Tips for Starting a Profitable Handyman Business in Your City
If you enjoy fixing things and working with your hands, starting a handyman business could be a great move. Handyman services are frequently in high demand. Regardless of the time of year or state of the economy, people will always need to hire handymen to handle household repairs. A handyman tackles everything from fixing leaky plumbing to drywall repair. This type of business is well-suited to entrepreneurs who have a knack for solving problems, an eye for detail, and good time management skills. Here are some tips to help you get started!
Consider Forming an LLC
First, you need to register your new business. Registering a business involves choosing a business structure, so think about your options carefully before you begin the registration process. Sole proprietorships and LLCs make the most sense for new handyman businesses. Compared with a sole proprietorship, an LLC will designate your business as a separate legal entity and protect your personal assets from business debts and lawsuits. At the same time, LLC taxes function similar to a sole proprietorship, saving you from excessive paperwork and double taxation. Unless you’re well-versed in business law and know how to start an LLC in Illinois that’s legally compliant with all state requirements, it’s a good idea to recruit an online formation agency to file the paperwork for you.
Research Your Permit Requirements
Depending on your state, you may also need to acquire a handyman license before working on business projects. And if you plan on offering specific services like plumbing and HVAC repairs, you’ll also need specialized permits and possibly some additional training. Depending on the type of work you do and where you live, you may need to obtain a general contractor license even if you’re sticking with smaller household jobs.
Find Helpful Software and Apps
Running a one-person business is only getting easier thanks to the emergence of time-saving business software. As a handyman, you can use digital tools to track expenses, organize bills, manage clients, send invoices, and map out repair projects. Project estimating software will also make your life easier. With the help of a great estimating tool, you can create estimates faster. Look for an estimating app that includes effortless material cost estimations, local taxes and labor costs, automated client email reminders, and payment schedule options for customers.
Research Your Competitors
As a local handyman, it’s important that you know your competitors. Scoping out your competition will help you make decisions about your rates, marketing methods, business goals, and more. Identify your main competitors and find out exactly what it is they’re doing.
Researching competitors will also tell you what types of customers they service so you can carve out a niche for yourself. If, for example, there are already many “do it all” handyman services in your area, you may decide to specialize in a specific area like painting, ceiling fan installation, trampoline assembly, or pressure washing.
Learn How to Market Your Business
Marketing your handyman business starts with a solid online presence. Building a website and setting up social media accounts can help you capture customers searching for services online. Learn about search engine optimization (SEO) and how it can help you get ahead of your competitors. You should also create some branding materials for your business, including a logo to place on your website and social media pages. Online logo design tools make it easy to create professional logos, regardless of your existing design skills. All you have to do is choose a logo template and customize it with your own icons, fonts, and colors.
Working as a professional handyman can be very fulfilling. As long as you produce good work, your customers will be happy to pay your rates and thank you for a job well done. As your business grows and you take on more projects, you can start hiring help and building your freelance business into a full contracting company!
To connect with advocates and other great resources that will help you build your business in our community, join the Lincoln Square Ravenswood Chamber of Commerce!Photo via Pexels