Are you thinking of starting a handyman business in 2020? If so, read this blog post to learn everything you need to know to get started, including how to get licensed and insured, what tools and equipment you’ll need, and where to find customers.
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Overview
Introduction
There is a growing trend of people wanting to hire handymen to do odd jobs and repairs around the house, instead of hiring a large company. This is because people are looking for more personalized service and someone they can trust. If you’re thinking about starting your own handyman business, there are a few things you should know.
First, you need to be able to do the jobs that you’re advertising. There’s no use in starting a handyman business if you can’t actually do the work. Take the time to brush up on your skills or learn new ones if necessary.
Second, you need to make sure that you’re insured and licensed. This is important for two reasons: first, it will protect you from liability if something goes wrong while you’re working; and second, it will show your potential customers that you’re a professional who takes their business seriously.
Third, you need to create a marketing plan. Handyman businesses rely heavily on word-of-mouth advertising, so it’s important to get your name out there. You can do this by passing out flyers in your neighborhood, advertising in local papers or online, or by simply telling everyone you know that you’re in business!
Fourth, start building up a toolbox and supplies. You’ll need basic tools like hammers and screwdrivers, as well as specialized tools for specific jobs. It’s also a good idea to keep a stock of common repair items like light bulbs and fuses on hand so that you can make small repairs without having to go out and buy everything each time.
If you follow these steps, you’ll be well on your way to starting a successful handyman business in 2020!
The Handyman Business Opportunity
The handyman business is a great opportunity for those who are looking for a way to be their own boss and control their own destiny. It is also a great way to make a good living while helping others in your community.
There are many things to consider when starting a handyman business. The most important thing is to make sure that you are prepared for the work. This means having the right tools and equipment, as well as the knowledge and experience to do the job right.
It is also important to have a good business plan. This will help you determine what services you will offer, how much you will charge, and how you will market your business. Without a solid business plan, it will be very difficult to succeed in the handyman business.
Another important consideration is insurance. This is essential if you want to protect yourself and your customers from potential liability. There are many different types of insurance that you can purchase, so be sure to speak with an insurance agent to find out what would be best for your particular business.
Once you have all of these things in place, you are ready to start marketing your handyman business. There are many different ways that you can market your business, so be sure to explore all of your options before making a final decision. The most important thing is to make sure that you put yourself out there and let people know that you are available to help them with their home improvement needs.
The Handyman Business Plan
No matter what type of handyman business you want to start, you will need to have a business plan. This document will outline your business goals, strategies, and how you plan on making a profit.
Creating a business plan may seem like a daunting task, but it doesn’t have to be. You can use a tool like LivePlan to help you create a professional business plan in no time.
Once you have your business plan together, it’s time to start thinking about the other components of starting your handyman business. In the section below, we’ll cover some of the basics that you need to get started.
The Handyman Business Model
There are several business models that handymen can choose from when starting their business. The most common model is the sole proprietorship, where the handyman owns and operates the business by themselves. This is the simplest and most straightforward business model, but it comes with some risks, as the handyman is personally liable for any debts or liabilities incurred by the business.
Another common model is the partnership, where two or more people team up to start a handyman business. This can be a good way to spread the risk and amount of work required, but it’s important to have a clear partnership agreement in place to avoid disagreements down the road.
Finally, some handymen choose to form a limited liability company (LLC) or corporation. This protects the handyman’s personal assets from being seized if the business is sued, but it also comes with additional paperwork and tax responsibilities.
The Handyman Business Marketing Plan
There are a number of ways to market your handyman business. Below are some tips to get you started:
1. Make a list of your target customers. These are the people who are most likely to need your services.
2. Develop a marketing plan. This should include how you will reach your target customers and what kinds of message you will send them.
3. Create marketing materials. This could include business cards, flyers, and website content.
4. Get involved in your community. Attend local events and meetups, and join local business groups. This will help you get exposure for your business and meet potential customers.
5. Get listed in online directories. This will make it easier for people to find you when they’re searching for a handyman in their area
The Handyman Business Management Plan
Even if you’re a one-man show, you need to have a business plan in place to be successful. This document will guide your every decision related to your business, from start to finish. It should include sections on your business goals, target market, competitors, pricing strategy, marketing strategy, and organizational structure.
If you need help putting together a business plan, the [Small Business Administration](https://www.sba.gov/business-guide/launch-business/write-your-business-plan) has a [great template](https://www.sba.gov/sites/default/files/2020-03/Business%20Plan%20Outline_0.pdf) that you can use.
Additionally, there are a number of software programs that can help you create a business plan, like [LivePlan](https://www.liveplan.com/) and [BizPlanBuilder](https://www.bizplanbuilder.com/).
Regardless of how you go about it, make sure your business plan is comprehensive and gives you the information you need to make informed decisions about your handyman business.
The Handyman Business Financial Plan
Your handyman business financial plan should include three main components: your income statement, your balance sheet, and your cash flow statement.
Your income statement will show your revenues and expenses for the year, and will help you to calculate your net profit. Your balance sheet will show your assets and liabilities, and will help you to calculate your net worth. Your cash flow statement will show how much cash you have coming in and going out, and will help you to track your cash flow.
To create your handyman business financial plan, you can use a spreadsheet program like Microsoft Excel or Google Sheets, or you can use a business planning software like Business Plan Pro. Whichever method you choose, be sure to include all of the necessary information so that you can make informed decisions about your handyman business.
The Handyman Business Start-Up Checklist
Are you planning to start a handyman business in 2020? If so, you need to make sure that you have everything in place before you start. This handyman business start-up checklist will help you make sure that you haven’t missed anything important.
1. Choose your business structure.
The first decision you need to make is what legal structure your business will have. The most common options for handyman businesses are sole proprietorships, limited liability companies (LLCs), and S corporations. Each option has its own advantages and disadvantages, so you need to choose the one that makes the most sense for your business.
2. Get a business license.
In most states, you need to get a business license before you can start operating your handyman business. You can usually apply for a business license through your city or county clerk’s office.
3. Register your business name.
If you’re going to do business under a name other than your own, you need to register that name with your state government. This is typically called “doing business as” (DBA) registration. Registering your DBA allows you to open a bank account and enter into contracts under your business name. It also protects your personal assets from being used to pay for any debts or liabilities of the business.
4. Get a tax identification number (TIN). Many handyman businesses will also need to get a federal tax identification number, also known as an employer identification number (EIN). You can usually apply for an EIN online through the IRS website or by mail using Form SS-4.
5 Handy tip: You may also need to get a state tax identification number if your state has income taxes or sales taxes
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