HANDYMAN BUSINESS PLAN SAMPLE
Do you wish to know how to start a handyman business and become a boss?
There are many advantages to having a handyman business, such as choosing the people you’ll work for and the kinds of jobs, setting your pay rates, having total control of your income, and setting a schedule of your own.
Do not think that you’ll need to perform the work all by yourself.
As a handyman business owner, you will have a crew that helps with labor, which will allow you to focus on maximizing profits, more sales generation, and growing the business.
Here is a sample business plan for starting a handyman maintenance business.
STEPS TO STARTING A HANDYMAN BUSINESS
Step I: Find A Niche
There are several niches you can choose to specialize in. Specializing in a niche will have you positioned as an expert in the niche, and clients will prefer to give you jobs in that specific field rather than give amateurs.
They don’t want to give their home jobs to handymen who are amateur in the business; but rather to experts who’ll complete their jobs in no time.
Here are some niches that you can simply specialize in as a handyman:
- Gardening and building service
- Plumbing and maintenance
- Wall repair
- Lock Repairs
- Shower niche and shower remodel
- Exterior and interior painting
- Gutter repairs
- Fence repairs
- Flooring repair works
- Door installations
- Deck repair
- Attic insulation
- Spray foam insulation
- Bathroom remodel
- Kitchen makeover
- Television wall mount installs
You can choose to specialize in more than one niche as far as you deliver the job perfectly. Aside from that, it also increases your income.
Step II: Get A License
Before you can go get a license for the business, you will first need to choose a good name and ensure it is not taken already. Register the business name in the state you are in, and then get a license within the city you will be operating your business in.
At first, this may seem confusing, but it’s pretty simple. All the forms are printed online, so it shouldn’t take more than two days to get everything done.
- Tip 1:
Search for “How to obtain a business license in [my state]” on Google and you will find what you are looking for.
- Tip 2:
Build a professional website for the business. Bluehost costs $2.99 monthly, and they’ll give you a free domain name! Your business needs to be found online even if the page isn’t standard.
It’s advisable to make your domain easy to think about when people search for your services on Google.
Step III: Get Business Insurance
Basic insurance policies cost about $800 yearly. It gives protection to you and the business if there is an emergency. Getting insurance is advisable – in fact, you can place an advertisement that you are “insured and licensed in [your state].”
Step IV: Advertise
If you have a low budget, you can use job listing websites that are free such as Craigslist. Many neighborhoods have got online neighborhood groups where your services can be listed, and you can respond to anyone who has jobs for you.
An excellent way of generating leads for people who have low or no budget is Craigslist.
Also, your business website is another advertisement platform since you will start ranking on Google hopefully.
Contact companies that are into rental properties within your area to know if they’ll need subcontractors/contractors.
You can also be involved in private residences, but the work is significantly less for rental companies because there is no chit-chatting or bidding.
Jobs will be sent your way, and you should be able to complete them before the deadline. Building up your business, gaining more experience, and contacting the companies within your area to know if the requirements are met by you are highly recommended.
Step V: Purchase Needed Tools
Rather than purchase all the tools at a time, buy them as the need arises. Also, you can check for tools that are used on Craigslist before buying new ones. You can check online to know the needed tools. You can also ask a handyman business owner to guide you on the important tools needed and how to go about the purchase.
You can purchase a paint sprayer from Craigslist at $150 (a new one costs about $500) that will still work great after an extended period of use.
Step VI: Report All Expenses, Income, and Mileage
A disadvantage (which is also an advantage as well) of having your own handyman business is that you must record and monitor EVERY expense.
Also, part of your home can be written off if you’ve got an office, work truck as well as all other expenses that come with having the business. Track everything by keeping a few various excel spreadsheets.
READ: Opening a Mr. Handyman Franchise
Each time you are paid, deposit 20-25% of the money in a different savings account. That will be for tax and a bonus to you – if you don’t owe the government everything – it’s either you reinvest the money into your business by purchasing new tools, spending more on advertising, or acquiring assets for the business.
Having a handyman business of your own seems like too much work, but its downsides are often outweighed by the benefits.