Fear is the common reason some people stop pursuing their dream of starting a handyman business. They fear that they won’t make an income right away. Or worse, the business fails and end up losing everything.
But the truth is, starting a handyman business isn’t always as difficult as what most people think of. Everyone just needs to have the right knowledge on how to start the business to succeed. Here are the top tips on how to start a handyman business.
Tip #1: Have a positive attitude
It’s a requirement to have a great positive attitude in starting a handyman business. Simply because the attitude affects a person’s productivity at work and in building relationships with people.
Since fear is the primary hindrance in having a positive attitude, it’s a must to solve it first. One method to do this is by changing the perspective towards fear. Instead of worrying about the potential negative outcome that the business may get, use it as a challenge to oneself.
Tip #2: Prepare yourself
It’s undeniable that starting a handyman business, or any type of business, can be intimidating – emotionally and intellectually. So, it’s wise for everyone to prepare themselves first for the whole journey.
One good way to do this is by asking yourself the following questions:
Why do I want to start a handyman business?
Asking yourself this question will serve as your motivation when things don’t go as planned. Your reasons must be strong enough to endure all the hardships that may come your way.
The key here is honesty.
Am I a good communicator and listener?
Most of the handyman’s job is talking and listening to a lot of people – customer, employee, and supplier. Having good communication and listening skills will help you make everyone feel comfortable and relatable.
Do I possess a high level of energy to do all the work, including the hidden tasks?
Starting your own business means that you have to juggle all the tasks by yourself – bookkeeping, finding clients, registering your business, and advertising. To prevent getting overwhelmed, make a list of your tasks. This will help you plan an efficient schedule for each task, or find the right expert to help you.
Tip #3: Choose your services
After assuring to yourself that starting a handyman business is indeed the path you want to take, the next thing you need to do is choose the services you want to offer. You can do this by thoroughly evaluating your skills and interest.
Here are few of the jobs that a handyman can perform:
- Furniture Assembly
- Repair locks, door, and windows
- Odd jobs e.g. hanging of picture frames
Tip #4: Do market research
Upon finalising the services that you want to offer, you can start the search for the demand of jobs in your target location. This will help you determine if there are demands for the services you plan to offer.
This research will also identify all your potential customers in both commercial and residential properties.
Tip #5: Take a peek on your competitors as well
As a first-time business owner, it’s only wise to know the ins and out of the industry before starting. And the best people who can show you that are, of course, your competitors.
Studying the competitors will give you an idea on the current standing and trends in the marketplace. Research claims that the information that you must look at carefully are the following:
- Identify if they are direct competitors or indirect
- What they are known for?
- Prices per service
- Competitor’s strength and weaknesses
- Minor and major setbacks
- What do their customers like and dislike about the company?
The outcome of this research will benefit you in developing your business plan, learning the best practices to use (and bad practices to avoid), and communicating to your target customers.
Tip #5: Learn the laws enforced in your State
Every State created and enforced various laws to ensure the safety of the citizens and protect their rights. For the business, several laws are made to ensure they will not offer fraudulent practices. Also, to guide the handyman on what services they can and cannot perform without meeting the State’s requirement.
The main requirements that every handyman must obtain are licence, certification, and insurance.
Tip #6: Determine your rates (hourly, fixed and call-out)
Now that you have a better understanding of the business, you can easily determine a reasonable (and yet competitive) price for the services you are about to offer. This 2019, few of the handyman job rates are as follows:
- Furniture assembly: $80 to $200 per hour
- Window and door repairs: $40 to $60 per hour
- Painting: $100 to $200
You might also want to read: Handyman Price List Across Australia
Other prices that you have to set are the hourly, fixed, and call-out rates. For these rates, the basis will be your experience and skills. In general, the more experienced and skilled you are, the higher the rate you can set.
Tip #7: Create a business plan
The ‘how to start a handyman business?’ question will never be completed without creating an effective business plan.
A business plan is the reflection of your goals and mission in starting a handyman business. Some make it as a formal document or manual. This is advisable if you are planning to start a company with an office and hired employees. But if you are only planning to start a home-based business, you can make it like a checklist.
The business plan checklist will include all the goals you want to achieve for the first 6 months, a year and so on.
Tip #3 up to #6 are all included on the business. You just need to add your marketing, operating, and financial plans to complete it.
Tip #8: Equip your business
Upon learning everything on how to start a handyman business, you can confidently say that you are ready. The next step for you is to obtain a business
Also, buy all the tools and equipment you will need to properly perform the job.
The beginning is always the most difficult part of starting a handyman business. But upon learning all the ups and downs, common challenges and best practices to succeed – everything will process smoothly. When in doubt, don’t hesitate to ask for a professional’s advice.
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