As I’ve said before, there are several ways to start a profitable handyman business. And while starting your business from scratch is typically the most profitable route, I’d be doing my readers and listeners a disservice if I didn’t explore the idea of handyman franchises. That’s why when a representative of Ace Handyman Services asked if I’d like to interview Colette Bell – VP of franchise development for Ace Handyman Services, I jumped at the opportunity. I immediately saw it as a chance to dig deeper into the costs, benefits, and profitability of becoming a franchisee. Then, when the interview finally came, I was not disappointed. Colette was very generous with her knowledge and time. She was also transparent, even sharing details about how much Ace Handyman Services franchise owners make in profit. And beyond the franchise information, Colette shares some best practices and strategies for any handyman business. So, even if you have zero interest in investing in a handyman franchise, I know you’ll find this interview insightful and motivating. I highly recommend giving it a listen. HS038 – Colette Bell of Ace Handyman Services: The Costs, Benefits, and Expected Profit of Investing in a Handyman Franchise About Colette Bell Colette is the VP of Franchise Development for Ace Handyman Services, a nationwide handyman franchise.  Colette has over 20 years of experience in the handyman business. For 18 years, she was the chairman and co-owner of Handyman Matters (a large handyman franchise) and grew that business from scratch with her husband, Andy Bell. In 2019, Handyman Matters was acquired by Ace Hardware and rebranded as Ace Handyman Services, which (at the time of recording this interview) has 378 territories in 46 states.  Colette is a wealth of knowledge about the handyman business, and I’m excited to have her on the show. What are the benefits of an Ace Handyman Services franchise? One of my focuses for this interview was to better understand what a handyman franchise can bring to the table. Here is a summary of what Colette mentioned in the interview (which you can listen to toward the top of this page).  Consolidation of Power – Having 378 franchises can bring some negotiation firepower because of the volume. She gave the example of getting better prices on software, but I can see how this could be helpful in many other areas. Consolidation of Knowledge – Colette explained that one of the franchise’s job is to continue improving systems and roll them out to the territories. While doing this, they benefit from learning from all of their franchisees. So instead of only learning from one business’s mistakes and successes, they can learn from hundreds of businesses to help them make better decisions. Keeping operating expenses low while expanding – Colette explained that one of the challenges of scaling a handyman business is that operating costs can balloon as well, but with Ace Handyman Services systems and software, these costs are limited – allowing a business to scale with lower costs. Emotional Support – Running a business can be lonely. With Ace Handyman Services, you have access to a dedicated business coach you can reach out to for counseling and advice. There are also regional groups where business owners get to meet with each other and discuss problems and opportunities. A Large women owners group – This can be a big plus for women looking to get into the home repair industry. A large group of Vets – Colette mentioned that many veterans get involved with the franchise.  How much does an ace handyman services owner make? One of the main things I was interested in during the interview was how much an Ace Handyman Services owner can expect to make. And as you may expect, the answer to that is more complicated than just giving a number. The region someone operates in, how many territories a franchisee owns, how long a territory has been operating, and the effectiveness of the franchise owner are just some of the factors that can influence the bottom line. But Collete was able to provide some numbers. She mentioned that the top 20 franchisees average roughly $852,000 in revenue and operate at about 22% profit. Once you remove about 6% of that profit for the franchise royalty fee and an additional 2% for the national marketing fund, a franchisee can expect profit to be 14% of total revenue. So, if we multiply $852,000 by 14%, you get $119,280. So, the top twenty Ace Handyman Franchise owners generate an average profit of about $120K. To put that into further context, some of these franchisees also collect a paycheck so that profit is in addition to what they pay themselves. Also, some of these franchisees have multiple territories, further complicating things. While this still doesn’t fully answer how much you can expect to make, it provides insight into the upside of becoming a handyman franchisee. Ultimately, further research and analysis will be necessary to estimate profit for the territory you live in. How much does it cost to buy an Ace Handyman Services franchise territory? The benefits that come with investing in a franchise are not free. Colette (VP of Franchising Development) mentioned that the initial cost to start an Ace Handyman Franchise is usually around $128,000 to $204,000, which covers the franchise fees, startup costs, and the first three months’ operating costs. That includes the franchise fee, photo shoots, website setup, in-person training, rent for a physical office (required), necessary computer and office equipment, business licensing, and other costs. However, there are more costs. There are also franchise royalties (where the franchise takes a percentage of the total revenue), the national marketing fund (which adds to the franchises marketing budget), a $499 monthly fee for software and website management, and of course, the monthly fixed and variable costs that come with running any local business. Here’s a quick summary of franchise costs:  $70K franchise fee – Covers first ten-year contract for a single territory. After ten years, it’s $5,500 for ten more years. 6% of revenue for franchise royalties. 2% of revenue for the national marketing fund – to invest in marketing for the franchise to further brand recognition. $499 per month for website and software  These costs do not include the other costs of starting a handyman business. Also, depending on the time you read this article, this may not be a comprehensive list of costs. What requirements must you meet to become an Ace Handyman Services franchisee? The financial requirements are that you have at least $75,000 liquid and your net worth is at least $250,000. But those are just financial requirements. To be a good fit for the company, Colette mentioned that candidates are what she calls “servant leaders,” meaning they operate from a position of service to their employees and the craftsman they hire. She mentioned that if it’s just about the money for someone, then they should “go somewhere else.” And that makes sense because, from my analysis, if you wanted to start a handyman business and optimize for profit, you’d be better off starting from scratch and doing it without the burden of franchise fees and royalties. However, if you prioritize the benefits of the franchise over pure profit, then I don’t see anything wrong with taking that hit on profit. How can you learn more about starting an Ace Handyman Franchise? Colette mentioned that for those interested, the best place to start is to head over to AceHandymanFranchising.com – where you can learn more, contact the franchise, and see if your territory is available. While there are 378 territories taken, Colette mentioned there are nearly 1,800 territories in the United States. So there are plenty still available. What do you think of handyman franchises? I’m curious to hear your thoughts on Ace Handyman Services and other franchises to help provide further insight to people considering this investment. The post Colette Bell of Ace Handyman Services: The Costs and Benefits of Investing in a Handyman Franchise appeared first on Handyman Startup.

As I’ve said before, there are several ways to start a profitable handyman business. And while starting your business from scratch is typically the most profitable route, I’d be doing my readers and listeners a disservice if I didn’t explore the idea of handyman franchises. That’s why when a representative of Ace Handyman Services asked if I’d like to interview Colette Bell – VP of franchise development for Ace Handyman Services, I jumped at the opportunity. I immediately saw it as a chance to dig deeper into the costs, benefits, and profitability of becoming a franchisee. Then, when the interview finally came, I was not disappointed. Colette was very generous with her knowledge and time. She was also transparent, even sharing details about how much Ace Handyman Services franchise owners make in profit. And beyond the franchise information, Colette shares some best practices and strategies for any handyman business. So, even if you have zero interest in investing in a handyman franchise, I know you’ll find this interview insightful and motivating. I highly recommend giving it a listen. HS038 – Colette Bell of Ace Handyman Services: The Costs, Benefits, and Expected Profit of Investing in a Handyman Franchise <h2>About Colette Bell</h2> Colette is the VP of Franchise Development for Ace Handyman Services, a nationwide handyman franchise.  Colette has over 20 years of experience in the handyman business. For 18 years, she was the chairman and co-owner of Handyman Matters (a large handyman franchise) and grew that business from scratch with her husband, Andy Bell. In 2019, Handyman Matters was acquired by Ace Hardware and rebranded as Ace Handyman Services, which (at the time of recording this interview) has 378 territories in 46 states.  Colette is a wealth of knowledge about the handyman business, and I’m excited to have her on the show. <h2>What are the benefits of an Ace Handyman Services franchise?</h2> One of my focuses for this interview was to better understand what a handyman franchise can bring to the table. Here is a summary of what Colette mentioned in the interview (which you can listen to toward the top of this page). <ul> <li>Consolidation of Power – Having 378 franchises can bring some negotiation firepower because of the volume. She gave the example of getting better prices on software, but I can see how this could be helpful in many other areas.</li> <li>Consolidation of Knowledge – Colette explained that one of the franchise’s job is to continue improving systems and roll them out to the territories. While doing this, they benefit from learning from all of their franchisees. So instead of only learning from one business’s mistakes and successes, they can learn from hundreds of businesses to help them make better decisions.</li> <li>Keeping operating expenses low while expanding – Colette explained that one of the challenges of scaling a handyman business is that operating costs can balloon as well, but with Ace Handyman Services systems and software, these costs are limited – allowing a business to scale with lower costs.</li> <li>Emotional Support – Running a business can be lonely. With Ace Handyman Services, you have access to a dedicated business coach you can reach out to for counseling and advice. There are also regional groups where business owners get to meet with each other and discuss problems and opportunities.</li> <li>A Large women owners group – This can be a big plus for women looking to get into the home repair industry.</li> <li>A large group of Vets – Colette mentioned that many veterans get involved with the franchise.</li> </ul> <h2>How much does an ace handyman services owner make?</h2> One of the main things I was interested in during the interview was how much an Ace Handyman Services owner can expect to make. And as you may expect, the answer to that is more complicated than just giving a number. The region someone operates in, how many territories a franchisee owns, how long a territory has been operating, and the effectiveness of the franchise owner are just some of the factors that can influence the bottom line. But Collete was able to provide some numbers. She mentioned that the top 20 franchisees average roughly $852,000 in revenue and operate at about 22% profit. Once you remove about 6% of that profit for the franchise royalty fee and an additional 2% for the national marketing fund, a franchisee can expect profit to be 14% of total revenue. So, if we multiply $852,000 by 14%, you get $119,280. So, the top twenty Ace Handyman Franchise owners generate an average profit of about $120K. To put that into further context, some of these franchisees also collect a paycheck so that profit is in addition to what they pay themselves. Also, some of these franchisees have multiple territories, further complicating things. While this still doesn’t fully answer how much you can expect to make, it provides insight into the upside of becoming a handyman franchisee. Ultimately, further research and analysis will be necessary to estimate profit for the territory you live in. <h2>How much does it cost to buy an Ace Handyman Services franchise territory?</h2> The benefits that come with investing in a franchise are not free. Colette (VP of Franchising Development) mentioned that the initial cost to start an Ace Handyman Franchise is usually around $128,000 to $204,000, which covers the franchise fees, startup costs, and the first three months’ operating costs. That includes the franchise fee, photo shoots, website setup, in-person training, rent for a physical office (required), necessary computer and office equipment, business licensing, and other costs. However, there are more costs. There are also franchise royalties (where the franchise takes a percentage of the total revenue), the national marketing fund (which adds to the franchises marketing budget), a $499 monthly fee for software and website management, and of course, the monthly fixed and variable costs that come with running any local business. Here’s a quick summary of franchise costs: <ul> <li>$70K franchise fee – Covers first ten-year contract for a single territory. After ten years, it’s $5,500 for ten more years.</li> <li>6% of revenue for franchise royalties.</li> <li>2% of revenue for the national marketing fund – to invest in marketing for the franchise to further brand recognition.</li> <li>$499 per month for website and software</li> </ul> These costs do not include the other <a href="https://www.handymanstartup.com/how-much-does-it-cost-to-start-up-a-handyman-business/" rel="nofollow" target="_blank">costs of starting a handyman business</a>. Also, depending on the time you read this article, this may not be a comprehensive list of costs. <h2>What requirements must you meet to become an Ace Handyman Services franchisee?</h2> The financial requirements are that you have at least $75,000 liquid and your net worth is at least $250,000. But those are just financial requirements. To be a good fit for the company, Colette mentioned that candidates are what she calls “servant leaders,” meaning they operate from a position of service to their employees and the craftsman they hire. She mentioned that if it’s just about the money for someone, then they should “go somewhere else.” And that makes sense because, from my analysis, if you wanted to start a handyman business and optimize for profit, you’d be better off <a href="https://www.handymanstartup.com/landing/start-handyman-business-course/" rel="nofollow" target="_blank">starting from scratch</a> and doing it without the burden of franchise fees and royalties. However, if you prioritize the benefits of the franchise over pure profit, then I don’t see anything wrong with taking that hit on profit. <h2>How can you learn more about starting an Ace Handyman Franchise?</h2> Colette mentioned that for those interested, the best place to start is to head over to <a href="https://www.acehandymanfranchising.com" rel="nofollow" target="_blank">AceHandymanFranchising.com</a> – where you can learn more, contact the franchise, and see if your territory is available. While there are 378 territories taken, Colette mentioned there are nearly 1,800 territories in the United States. So there are plenty still available. <h2>What do you think of handyman franchises?</h2> I’m curious to hear your thoughts on Ace Handyman Services and other franchises to help provide further insight to people considering this investment. The post <a href="https://www.handymanstartup.com/ace-handyman-services-franchise/" rel="nofollow" target="_blank">Colette Bell of Ace Handyman Services: The Costs and Benefits of Investing in a Handyman Franchise</a> appeared first on <a href="https://www.handymanstartup.com" rel="nofollow" target="_blank">Handyman Startup</a>.

Colette Bell of Ace Handyman Services: The Costs and Benefits of Investing in a Handyman Franchise

Unexpected challenges and setbacks are unavoidable when growing a business, and if not managed properly, can really fuck up your progress. One day you might feel on top of the world, then BAM, a customer gives you a bad review, you lose a job you quoted, and you find out that your sales are dropping. Or, maybe you are just starting your business, and your enthusiasm gets squashed by realizing there is a LOT more competition than expected. There are endless ways that setbacks can hit, but when these inevitable bad days happen, they can crush your spirit and leave you anxious and stressed. They’ll have you questioning yourself and your abilities and, in many cases, lead you to give up. Overcoming setbacks is one of the two things that make growing a business hard (the other one is showing up to do the work consistently). And, if you can learn how to overcome setbacks without letting them destroy your confidence, motivation, and momentum, then you are infinitely more likely to succeed. The Reality of Setbacks Setbacks are unavoidable in business and life. Period. I don’t care if your name is Elon Musk or Michael Jordan, you’re going to go through some shit at some point, and it will challenge your resolve. No amount of worrying, planning, list-making, mentoring, researching, practicing, investing, or experience will allow you to escape this reality of being alive. Life is fun and interesting, and sometimes it’s really hard. My purpose in highlighting this is not to be pessimistic. In fact, I find it liberating and motivating. It reminds me that I’m not the only one who hasn’t figured it all out. I’m not the only one who loses sleep when my income drops for a couple of months, when a marketing strategy that I relied on stops working, or when new competition enters the arena making my life harder. Embracing this reality is one of the things that helps me get through the struggle. It also allows me to turn my head toward dealing with the setbacks when they happen instead of beating myself up, bathing in anxiety, and spiraling downward. How to Overcome Setbacks and Unexpected Challenges Once you accept that they are inevitable, the obvious next step is to learn how to work through them. I’m 99% certain that there is no way to completely avoid the negative emotions and painful experiences of setbacks. They will always suck to a certain degree. However, I’m equally sure that how you process negative emotions that arise will determine the duration, intensity, and impact they have on you and your business. I’ve found that failing to process my struggles in a somewhat structured way will prolong the suffering, cause me to lose sleep, and lead to poor decisions that hurt myself or others. In the past, I’ve let setbacks destroy my peace of mind and productivity, but over time, I’ve learned strategies for overcoming them so I can move on within minutes or hours instead of days or weeks. So, in this podcast episode, I wanted to share strategies I’ve found effective for dealing with these mental struggles. I hope you find them helpful. Mastering the mental game of business is essential to your success. Listen to the full podcast to learn eight strategies for overcoming setbacks faster and while taking less damage. HS037 – Overcoming The Setbacks of Growing a Business Books Mentioned in This Podcast  The Wisdom of Insecurity by Alan Watts Zen and the Art of Motorcycle Maintenance by Robert Persig (I recommend the audiobook) The Obstacle is the Way by Ryan Holiday Cleaning Up Your Mental Mess by Caroline Leaf (useful journaling practice) The Art of Living by Thich Nhat Hanh  The post Overcoming Setbacks – Mastering the Mental Game of Business appeared first on Handyman Startup.

Unexpected challenges and setbacks are unavoidable when growing a business, and if not managed properly, can really fuck up your progress. One day you might feel on top of the world, then BAM, a customer gives you a bad review, you lose a job you quoted, and you find out that your sales are dropping. Or, maybe you are just starting your business, and your enthusiasm gets squashed by realizing there is a LOT more competition than expected. There are endless ways that setbacks can hit, but when these inevitable bad days happen, they can crush your spirit and leave you anxious and stressed. They’ll have you questioning yourself and your abilities and, in many cases, lead you to give up. Overcoming setbacks is one of the two things that make growing a business hard (the other one is <a href="https://welthmethod.com/" rel="nofollow" target="_blank">showing up to do the work consistently</a>). And, if you can learn how to overcome setbacks without letting them destroy your confidence, motivation, and momentum, then you are infinitely more likely to succeed. <h2>The Reality of Setbacks</h2> Setbacks are unavoidable in business and life. Period. I don’t care if your name is Elon Musk or Michael Jordan, you’re going to go through some shit at some point, and it will challenge your resolve. No amount of worrying, planning, list-making, mentoring, researching, practicing, investing, or experience will allow you to escape this reality of being alive. Life is fun and interesting, and sometimes it’s really hard. My purpose in highlighting this is not to be pessimistic. In fact, I find it liberating and motivating. It reminds me that I’m not the only one who hasn’t figured it all out. I’m not the only one who loses sleep when my income drops for a couple of months, when a marketing strategy that I relied on stops working, or when new competition enters the arena making my life harder. Embracing this reality is one of the things that helps me get through the struggle. It also allows me to turn my head toward dealing with the setbacks when they happen instead of beating myself up, bathing in anxiety, and spiraling downward. <h2>How to Overcome Setbacks and Unexpected Challenges</h2> Once you accept that they are inevitable, the obvious next step is to learn how to work through them. I’m 99% certain that there is no way to completely avoid the negative emotions and painful experiences of setbacks. They will always suck to a certain degree. However, I’m equally sure that how you process negative emotions that arise will determine the duration, intensity, and impact they have on you and your business. I’ve found that failing to process my struggles in a somewhat structured way will prolong the suffering, cause me to lose sleep, and lead to poor decisions that hurt myself or others. In the past, I’ve let setbacks destroy my peace of mind and productivity, but over time, I’ve learned strategies for overcoming them so I can move on within minutes or hours instead of days or weeks. So, in this podcast episode, I wanted to share strategies I’ve found effective for dealing with these mental struggles. I hope you find them helpful. Mastering the mental game of business is essential to your success. Listen to the full podcast to learn eight strategies for overcoming setbacks faster and while taking less damage. HS037 – Overcoming The Setbacks of Growing a Business <h2>Books Mentioned in This Podcast</h2> <ul> <li><a href="https://amzn.to/44eVEtn" rel="noopener nofollow" target="_blank">The Wisdom of Insecurity</a> by Alan Watts</li> <li><a href="https://amzn.to/3CJjwty" rel="noopener nofollow" target="_blank">Zen and the Art of Motorcycle Maintenance</a> by Robert Persig (I recommend the audiobook)</li> <li><a href="https://amzn.to/446g0oQ" rel="noopener nofollow" target="_blank">The Obstacle is the Way</a> by Ryan Holiday</li> <li><a href="https://amzn.to/3r1yJmS" rel="noopener nofollow" target="_blank">Cleaning Up Your Mental Mess</a> by Caroline Leaf (useful journaling practice)</li> <li><a href="https://amzn.to/3NoQ6Wi" rel="noopener nofollow" target="_blank">The Art of Living</a> by Thich Nhat Hanh</li> </ul> The post <a href="https://www.handymanstartup.com/overcoming-setbacks/" rel="nofollow" target="_blank">Overcoming Setbacks – Mastering the Mental Game of Business</a> appeared first on <a href="https://www.handymanstartup.com" rel="nofollow" target="_blank">Handyman Startup</a>.

Overcoming Setbacks – Mastering the Mental Game of Business

Few business mistakes are worse (or more common) than consistently undercharging. You’ve done all of the work to get the customer, they hired you, and then you did more work to complete the project for them. The only problem is that you don’t make enough money to justify the time and effort if you undercharge. You waste your time, and you don’t get that time back. Undercharging makes investing in growing your business, buying better tools, improving your marketing, and having free time to relax nearly impossible. It destroys all the fun and forces you to grind. Every. Single. Day. Even worse, undercharging can cause you to build a clientele based on having low prices, making it even more difficult to raise your rates in the future. The truth is that pricing your services is hard, and there are many pitfalls that are easy to fall victim to. So, in this podcast, I discuss nine pricing pitfalls that are guaranteed to kill your profits and enjoyment in this business IF you fall victim to them. I hope that by sharing these mistakes, I can help you avoid making some of them and, in turn, make more money. HS036 – 9 Pricing Pitfalls That Destroy Profits and Fun Pricing mistakes are common, and you’ll never avoid them completely, but you can avoid many of them most of the time and, in doing so, make more money and have more fun. Like, a LOT more money. Listen to the full podcast to learn what they are. The content in this podcast is taken from my handyman pricing course: “$100K Handyman Pricing.” If you find this helpful and want to learn how to price your services to maximize profits and customer satisfaction, I recommend checking that out. If you like this podcast, you’ll enjoy my article on how I lost over $52,000 by undercharging. The post Pricing Pitfalls – Nine Ways Handymen Leave Money on the Table appeared first on Handyman Startup.

Few business mistakes are worse (or more common) than consistently undercharging. You’ve done all of the work to get the customer, they hired you, and then you did more work to complete the project for them. The only problem is that you don’t make enough money to justify the time and effort if you undercharge. You waste your time, and you don’t get that time back. Undercharging makes investing in growing your business, buying better <a href="https://www.handymanstartup.com/handyman-tools/" rel="nofollow" target="_blank">tools</a>, improving your marketing, and having free time to relax nearly impossible. It destroys all the fun and forces you to grind. Every. Single. Day. Even worse, undercharging can cause you to build a clientele based on having low prices, making it even more difficult to raise your rates in the future. The truth is that pricing your services is hard, and there are many pitfalls that are easy to fall victim to. So, in this podcast, I discuss nine pricing pitfalls that are guaranteed to kill your profits and enjoyment in this business IF you fall victim to them. I hope that by sharing these mistakes, I can help you avoid making some of them and, in turn, make more money. HS036 – 9 Pricing Pitfalls That Destroy Profits and Fun Pricing mistakes are common, and you’ll never avoid them completely, but you can avoid many of them most of the time and, in doing so, make more money and have more fun. Like, a LOT more money. Listen to the full podcast to learn what they are. The content in this podcast is taken from my handyman pricing course: “<a href="https://www.handymanstartup.com/landing/100k-handyman-pricing/" rel="nofollow" target="_blank">$100K Handyman Pricing</a>.” If you find this helpful and want to learn how to price your services to maximize profits and customer satisfaction, I recommend checking that out. If you like this podcast, you’ll enjoy my article on <a href="https://www.handymanstartup.com/how-i-lost-52743-in-my-first-year-as-a-handyman/" rel="nofollow" target="_blank">how I lost over $52,000 by undercharging</a>. The post <a href="https://www.handymanstartup.com/pricing-pitfalls/" rel="nofollow" target="_blank">Pricing Pitfalls – Nine Ways Handymen Leave Money on the Table</a> appeared first on <a href="https://www.handymanstartup.com" rel="nofollow" target="_blank">Handyman Startup</a>.

Pricing Pitfalls – Nine Ways Handymen Leave Money on the Table

Handymen are well known for their “big or small, we do it all” approach, offering a wide range of services.  Many view us as “jacks of all trades, and masters of none.” And this generalist approach has its benefits. You need fewer customers to keep your schedule full, every day is different, and you get to build close relationships with clients. There’s also built-in job security when you can handle a wide variety of projects. However, from a purely business standpoint, it can be significantly more profitable and enjoyable to specialize and limit the services you provide. So in the rest of this article, I will explore the benefits of specializing and compare that to the typical MO of a pro handyman. You’ll find this concept motivating and intriguing, even if you enjoy being a generalist. Listen to the podcast version of this article, which includes extra content. Listen right here or on your favorite podcast app! HS035 – Make Your Business More Profitable By Specializing What does it mean to specialize? In most cases, it means you focus on one specific trade, such as plumbing, electrical, or HVAC. Most licensed contractors are specialists. However, you can specialize even further. For example, an electrician can specialize in home theater installation. A plumber can specialize in unclogging drains or emergency services. A carpenter can specialize in custom door installation or building decks. A handyman can specialize in power washing. With the internet now connecting you to virtually endless people, it’s possible to specialize in a very specific niche and still keep your schedule full. For example, I once met a guy who specialized in trampoline assembly and was making a killing. Here’s a picture of the work truck of a guy who specializes in picking up dog poop.  The options are endless when it comes to services you can specialize in. Do you have to limit yourself to that one service? No, not necessarily. Even if you offer a wide range of handyman services, it’s beneficial to choose one or two services to get good at and then promote those to customers. The benefits of specializing Benefit #1 – Expert Positioning When you specialize, you automatically position yourself as an expert, which is helpful for marketing. Being seen as an expert builds trust and helps you stand out. This is especially true when trying to attract wealthy clients. They often have refined tastes and aren’t looking for some weekend handyman who can “probably figure it out.” They want somebody that’s like, “This is what I do!” They want an expert. For example, one of the services I specialize in is TV wall mount installation, and it’s one of the primary services I promote to gain new clients. Simply promoting this service has positioned me as an expert. The funny thing is that customers who hire me to hang a TV will often ask me if I do anything else. I love when I hear this because I know that my marketing worked. Although I am a handyman and do all kinds of services, they see me as a TV wall mounting expert. Most handy people can wall-mount TVs, but customers hire me more often because I’ve chosen to promote it as my specialty. Benefit #2 – Higher Income Potential By specializing, you can make more money in less time. This is true for a few reasons.  Customers are willing to pay more for an expert. That’s because hiring an expert implies more certainty that the job will be done well. It’s a form of insurance. Additionally, customers often assume the job will be done better when a specialist is at hand. You become more proficient, allowing you to complete a project in less time and often with higher quality. This is especially important in a competitive area because it will enable you to make more money without raising your prices. You can package your services in more profitable ways. For example, instead of charging based on time, you can charge flat rates. You can also create packages, upsells, and even recurring services. There are all kinds of creative ways to package your services, and specializing gives you the time and focus to develop and test different offerings. You can avoid free quotes, which is an insidious practice that eats into your profits.  Of course, you can do all of these things without specializing in one service, but it’s more complex. You only have so much time and mental energy, after all. The simplicity of specializing allows you to get more creative. Benefit #3 – Higher Conversions Whether you are marketing with craigslist, your website, or Thumbtack, you will have higher conversions if you specialize. That means a higher percentage of people that see your ads will contact you. By promoting your specialty instead of general “handyman services,” you stand out from other handymen. Example: Let’s say a customer is looking for a fence repair on Craigslist. They come across a few posts with the following titles:  “Local Handyman – 30 Years of Experience” “$10/hr Handyman Services” “Professional Handyman” “Fence Repair Service”  Each ad offers fence repair, but which one would you click on? You’re most likely going to click on the most relevant ad, which is the one that says fence repair. This scenario plays out in countless ways on all marketing platforms. The more relevant your business is to the exact service someone needs when searching for a pro, the more likely you will grab their attention and turn them into a lead. Sometimes people are looking for a general handyman and a specialist ad will be less likely to convert, but I’ve found that most people are searching for the exact service they need when looking for a pro to hire. Benefit #4 – Easier to Hire Help As a professional handyman, you tackle various problems that require creative solutions and a broad spectrum of knowledge. Additionally, you need to understand your limits and which jobs to avoid. Hiring somebody who’s equally skilled and trustworthy is challenging. Typically, you will need to pay more for this level of skill. Becoming an all-around handyman takes years of experience or a certain type of person. But, if your business only offers one or two services, it’s much easier to train somebody with less experience. If you specialize in something basic, you can often train a complete newbie in a few days. For example, if you specialize in gutter installation, you could train an unskilled laborer in a matter of weeks, freeing your time to focus on other things. Benefit #5 – Simplified Pricing Quoting jobs can be a serious time-suck. As a new handyman, you’ll find yourself running all over town quoting jobs because you’re unsure which jobs you can handle or what each job entails. Additionally, pricing as a handyman is one of the hardest things to get right. You often have to perform a repair several times and make a few mistakes before you figure out how to price that project appropriately. And as a handyman, you handle many projects, which usually means lots of undercharging. Projects almost always take longer than you expect. Specializing eliminates much of this complexity. There’s still a learning curve, but it’s much shorter because there is less to learn in most cases. Specializing also makes it easier to quote jobs over the phone or email, eliminating the need to travel and quote in person. If you specialize, you will likely develop fixed pricing and easily quote over the phone without visiting customers’ houses. Simplified pricing also makes it easier to hire somebody to answer the phone for you, once again freeing you up to do more impactful things in your business, like marketing or creating systems. #6 – Streamlined Operations One of the downsides of being a handyman is that you need so many tools and supplies, and it’s a constant effort to manage them. Before heading to a job, you will likely need to load or unload certain tools from your vehicle. Unless you have a dedicated trailer, you probably can’t carry all your tools simultaneously. When you only offer one or two services, you can usually carry everything you need on you at all times. You never have to stop and think about which tools you need before leaving your house for a job. You can also have more specialized tools (usually overkill for a generalist) that can save you time and make jobs easier. And you can carry common supplies allowing you to make fewer trips to the store. This streamlines your business, making nearly every aspect of it more efficient. And when you are getting paid for your time, efficiency is a big deal. The Disadvantages of Specializing At this point, you’re probably thinking that specializing is a no-brainer. And it is. But just like everything, it does have some downsides. The first one is that specializing requires more marketing effort to keep your schedule full, and that’s because fewer customers will turn into repeat clients. Compare that with a traditional handyman business, where just a few good customers can keep your schedule mostly full. Your marketing will be more effective if you specialize, but you need more customers consistently. For someone starting their business who is new to marketing, this can make things more challenging. This isn’t necessarily a bad thing, though, especially if you’ve implemented what I teach in Handyman Marketing Machine and already have more customers than you need. Another downside of specializing is that you may find yourself getting bored. One of my favorite things about the handyman business is that I’m solving new challenges every day. One day I might be building a new gate. The next, I’m hanging pictures, fixing doors, and installing a stripper pole. The variety you get with a handyman business is not only stimulating for the mind, but it helps avoid repetitive stress injuries. I couldn’t imagine installing flooring every day, for example. And lastly, when you specialize, you are less likely to build close relationships with customers since many will only hire you once. If you like to get close to your clients and remember their dogs’ names, then specializing may not be for you. The best of both worlds Luckily, there is a third option. You can still offer a wide variety of handyman services while having a specialty or two. Those specialties can help you stand out from the competition with your marketing, and then you can promote your handyman services once you get in the door. You can also start offering every service you can, then find what you like most and dig deep into that. Then focus your marketing on that service, which will allow you to increase your profitability while still relying on the security of your general handyman services. You can start as a generalist (usually easier) and slowly develop a specialty or two (generally more profitable). Conclusion Choosing a service or two to specialize in is an excellent way to increase your profits, differentiate yourself from competitors, simplify your business, and make it easier to hire employees. Even if you continue to offer a wide range of handyman services, you can still experience many benefits, such as boosted profits and differentiation. The key to making it work is to invest your time and effort into marketing your specialty. As I’ve said before, good marketing makes everything in your business easier and more profitable. Of course, you’ll need to learn some new skills and buy some specialized tools as well, but that will inevitably happen when people consistently hire you for the same project. The post Specialist vs. Generalist: Six Reasons it Pays to Specialize appeared first on Handyman Startup.

Handymen are well known for their “big or small, we do it all” approach, offering a wide range of services. Many view us as “jacks of all trades, and masters of none.” And this generalist approach has its benefits. You need fewer customers to keep your schedule full, every day is different, and you get to build close relationships with clients. There’s also built-in job security when you can handle a wide variety of projects. However, from a purely business standpoint, it can be significantly more profitable and enjoyable to specialize and limit the services you provide. So in the rest of this article, I will explore the benefits of specializing and compare that to the typical MO of a pro handyman. You’ll find this concept motivating and intriguing, even if you enjoy being a generalist. Listen to the podcast version of this article, which includes extra content. Listen right here or on your favorite podcast app! HS035 – Make Your Business More Profitable By Specializing <h2>What does it mean to specialize?</h2> In most cases, it means you focus on one specific trade, such as plumbing, electrical, or HVAC. Most licensed contractors are specialists. However, you can specialize even further. For example, an electrician can specialize in home theater installation. A plumber can specialize in unclogging drains or emergency services. A carpenter can specialize in custom door installation or building decks. A handyman can specialize in power washing. With the internet now connecting you to virtually endless people, it’s possible to specialize in a very specific niche and still keep your schedule full. For example, I once met a guy who specialized in trampoline assembly and was making a killing. Here’s a picture of the work truck of a guy who specializes in picking up dog poop. <h2></h2> The options are endless when it comes to services you can specialize in. <h2>Do you have to limit yourself to that one service?</h2> No, not necessarily. Even if you offer a wide range of handyman services, it’s beneficial to choose one or two services to get good at and then promote those to customers. <h2>The benefits of specializing</h2> <h3>Benefit #1 – Expert Positioning</h3> When you specialize, you automatically position yourself as an expert, which is helpful for marketing. Being seen as an expert builds trust and helps you stand out. This is especially true when trying to attract wealthy clients. They often have refined tastes and aren’t looking for some weekend handyman who can “probably figure it out.” They want somebody that’s like, “This is what I do!” They want an expert. For example, one of the services I specialize in is <a href="https://www.handymanstartup.com/profitable-service-example-how-to-make-money-wall-mounting-tvs/" rel="nofollow" target="_blank">TV wall mount installation</a>, and it’s one of the primary services I promote to gain new clients. Simply promoting this service has positioned me as an expert. The funny thing is that customers who hire me to hang a TV will often ask me if I do anything else. I love when I hear this because I know that my marketing worked. Although I am a handyman and do all kinds of services, they see me as a TV wall mounting expert. Most handy people can wall-mount TVs, but customers hire me more often because I’ve chosen to promote it as my specialty. <h3>Benefit #2 – Higher Income Potential</h3> By specializing, you can make more money in less time. This is true for a few reasons. <ol> <li>Customers are willing to pay more for an expert. That’s because hiring an expert implies more certainty that the job will be done well. It’s a form of insurance. Additionally, customers often assume the job will be done better when a specialist is at hand.</li> <li>You become more proficient, allowing you to complete a project in less time and often with higher quality. This is especially important in a competitive area because it will enable you to make more money without raising your prices.</li> <li>You can package your services in more profitable ways. For example, instead of charging based on time, you can charge flat rates. You can also create packages, upsells, and even recurring services. There are all kinds of creative ways to package your services, and specializing gives you the time and focus to develop and test different offerings.</li> <li>You can <a href="https://www.handymanstartup.com/why-you-shouldnt-offer-free-quotes/" rel="nofollow" target="_blank">avoid free quotes</a>, which is an insidious practice that eats into your profits.</li> </ol> Of course, you can do all of these things without specializing in one service, but it’s more complex. You only have so much time and mental energy, after all. The simplicity of specializing allows you to get more creative. <h3>Benefit #3 – Higher Conversions</h3> Whether you are marketing with <a href="https://www.handymanstartup.com/craigslist-advertising-tips/" rel="nofollow" target="_blank">craigslist</a>, your <a href="https://www.handymanstartup.com/how-to-build-a-website/" rel="nofollow" target="_blank">website</a>, or <a href="https://www.handymanstartup.com/thumbtack-pro-reviews/" rel="nofollow" target="_blank">Thumbtack</a>, you will have higher conversions if you specialize. That means a higher percentage of people that see your ads will contact you. By promoting your specialty instead of general “handyman services,” you stand out from other handymen. Example: Let’s say a customer is looking for a fence repair on Craigslist. They come across a few posts with the following titles: <ul> <li>“Local Handyman – 30 Years of Experience”</li> <li>“$10/hr Handyman Services”</li> <li>“Professional Handyman”</li> <li>“Fence Repair Service”</li> </ul> Each ad offers fence repair, but which one would you click on? You’re most likely going to click on the most relevant ad, which is the one that says fence repair. This scenario plays out in countless ways on all marketing platforms. The more relevant your business is to the exact service someone needs when searching for a pro, the more likely you will grab their attention and turn them into a lead. Sometimes people are looking for a general handyman and a specialist ad will be less likely to convert, but I’ve found that most people are searching for the exact service they need when looking for a pro to hire. <h3>Benefit #4 – Easier to Hire Help</h3> As a professional handyman, you tackle various problems that require creative solutions and a broad spectrum of knowledge. Additionally, you need to understand your limits and which jobs to avoid. Hiring somebody who’s equally skilled and trustworthy is challenging. Typically, you will need to pay more for this level of skill. Becoming an all-around handyman takes years of experience or a certain type of person. But, if your business only offers one or two services, it’s much easier to train somebody with less experience. If you specialize in something basic, you can often train a complete newbie in a few days. For example, if you specialize in gutter installation, you could train an unskilled laborer in a matter of weeks, freeing your time to focus on other things. <h3>Benefit #5 – Simplified Pricing</h3> <a href="https://www.handymanstartup.com/quoting-tips-how-to-land-more-jobs-without-dropping-your-prices/" rel="nofollow" target="_blank">Quoting</a> jobs can be a serious time-suck. As a new handyman, you’ll find yourself running all over town quoting jobs because you’re unsure which jobs you can handle or what each job entails. Additionally, <a href="https://www.handymanstartup.com/landing/100k-handyman-pricing/" rel="nofollow" target="_blank">pricing as a handyman</a> is one of the hardest things to get right. You often have to perform a repair several times and make a few mistakes before you figure out how to price that project appropriately. And as a handyman, you handle many projects, which usually means lots of undercharging. Projects almost always take longer than you expect. Specializing eliminates much of this complexity. There’s still a learning curve, but it’s much shorter because there is less to learn in most cases. Specializing also makes it easier to quote jobs over the phone or email, eliminating the need to travel and quote in person. If you specialize, you will likely develop fixed pricing and easily quote over the phone without visiting customers’ houses. Simplified pricing also makes it easier to hire somebody to answer the phone for you, once again freeing you up to do more impactful things in your business, like marketing or creating systems. <h3>#6 – Streamlined Operations</h3> One of the downsides of being a handyman is that you need <a href="https://www.handymanstartup.com/handyman-tools/" rel="nofollow" target="_blank">so many tools</a> and supplies, and it’s a constant effort to manage them. Before heading to a job, you will likely need to load or unload certain tools from your vehicle. Unless you have a <a href="https://www.handymanstartup.com/best-handyman-vehicle/" rel="nofollow" target="_blank">dedicated trailer</a>, you probably can’t carry all your tools simultaneously. When you only offer one or two services, you can usually carry everything you need on you at all times. You never have to stop and think about which tools you need before leaving your house for a job. You can also have more specialized tools (usually overkill for a generalist) that can save you time and make jobs easier. And you can carry common supplies allowing you to make fewer trips to the store. This streamlines your business, making nearly every aspect of it more efficient. And when you are getting paid for your time, efficiency is a big deal. <h2>The Disadvantages of Specializing</h2> At this point, you’re probably thinking that specializing is a no-brainer. And it is. But just like everything, it does have some downsides. The first one is that specializing requires more marketing effort to keep your schedule full, and that’s because fewer customers will turn into repeat clients. Compare that with a traditional handyman business, where just a few good customers can keep your schedule mostly full. Your marketing will be more effective if you specialize, but you need more customers consistently. For someone starting their business who is new to marketing, this can make things more challenging. This isn’t necessarily a bad thing, though, especially if you’ve implemented what I teach in <a href="https://www.handymanstartup.com/landing/handyman-marketing-machine/" rel="nofollow" target="_blank">Handyman Marketing Machine</a> and already have more customers than you need. Another downside of specializing is that you may find yourself getting bored. One of my favorite things about the handyman business is that I’m solving new challenges every day. One day I might be building a new gate. The next, I’m hanging pictures, fixing doors, and installing a stripper pole. The variety you get with a handyman business is not only stimulating for the mind, but it helps avoid repetitive stress injuries. I couldn’t imagine installing flooring every day, for example. And lastly, when you specialize, you are less likely to build close relationships with customers since many will only hire you once. If you like to get close to your clients and remember their dogs’ names, then specializing may not be for you. <h2>The best of both worlds</h2> Luckily, there is a third option. You can still offer a wide variety of handyman services while having a specialty or two. Those specialties can help you stand out from the competition with your marketing, and then you can promote your handyman services once you get in the door. You can also start offering every service you can, then find what you like most and dig deep into that. Then focus your marketing on that service, which will allow you to increase your profitability while still relying on the security of your general handyman services. You can start as a generalist (usually easier) and slowly develop a specialty or two (generally more profitable). <h2>Conclusion</h2> Choosing a service or two to specialize in is an excellent way to increase your profits, differentiate yourself from competitors, simplify your business, and make it easier to hire employees. Even if you continue to offer a wide range of handyman services, you can still experience many benefits, such as boosted profits and differentiation. The key to making it work is to invest your time and effort into marketing your specialty. As I’ve said before, <a href="https://www.handymanstartup.com/good-marketing-makes-everything-easier/" rel="nofollow" target="_blank">good marketing makes everything in your business easier and more profitable</a>. Of course, you’ll need to learn some new skills and buy some specialized tools as well, but that will inevitably happen when people consistently hire you for the same project. The post <a href="https://www.handymanstartup.com/7-reasons-to-specialize-with-your-handyman-business/" rel="nofollow" target="_blank">Specialist vs. Generalist: Six Reasons it Pays to Specialize</a> appeared first on <a href="https://www.handymanstartup.com" rel="nofollow" target="_blank">Handyman Startup</a>.

Specialist vs. Generalist: Six Reasons it Pays to Specialize

The handyman business is surprisingly versatile. While many outsiders assume that all handymen businesses are identical, that couldn’t be further from the truth. Since starting my business over ten years ago, I’ve seen a wide array of business models in this industry and had the opportunity to speak with several handymen who have carved out interesting (and profitable) niches for themselves. Each model has some unique benefits and, of course, some disadvantages. Some are more profitable. Some are easier to set up. Some require minimal experience. And some of them might even surprise you. In this article, I’ll provide insight into each business model so you can pick the one that works the best for your goals, skills, and lifestyle. Listen to the podcast version of this article, which includes extra content and insights. Listen right here or on your favorite podcast app! HS034 – 7 Profitable Handyman Business Models #1 – The “Do It All” Handyman When I say do it all, I mean everything. I once spoke with a contractor from Atlanta who prides himself on serving all of the customer’s home needs. It doesn’t matter what it is. Whether it’s plumbing, electrical, bathroom remodels, a leaky faucet, or just mowing the lawn. His “We do it all” approach aims to provide the customer with the benefit of never having to call another contractor or handyman. That means he keeps them in his little web. This model often cashes in on bigger jobs like remodels and additions by providing small repairs and maintenance at very little or no charge. Although this was more common in the past, it’s rare now due to complexity and contracting laws. To pull this business model off legally in most states, you’d need to have dozens of different trade licenses, which would take decades to acquire for a single person. Of course, many people still do it; they just aren’t following the contracting laws 100%. Additionally, as homes get more advanced, many improvements require specialized knowledge to offer the highest quality products and services. Since it’s impossible to be an expert at everything, the quality of work will likely suffer with this model. But there are some advantages. The biggest one is that you’d have to invest far less in marketing because you can stay busy with just a few clients. So if you have an aversion to marketing, this might be a decent model for you. There’s also a lot of variety in the projects you take on, and you practically become family to those you serve. However, this model gets a big thumbs down from me. Other than the issues I mentioned, it’s far too complex and challenging to streamline with no added profit advantage. Plus, if I operated this way, I’d have to offer many services I hate providing to get the jobs I want. While this can be a profitable and enjoyable way to run a home repair business, it’s not my favorite. #2 – The To-Do List Handyman I didn’t know about this unique handyman business model until I interviewed Jim Copenhaver from Chicago. Since, I’ve tried it in my own business with success and have helped many others take this approach. This model takes advantage of the opportunities created by our overly busy lives. Busy working parents don’t have the time (or skills) to take care of simple repairs and maintenance, wealthy people simply don’t want to, and the elderly can’t or don’t want to either. The type of work with this model usually includes hanging pictures, small painting projects, hanging shelves, adjusting doors, furniture assembly, and countless other small things that homeowners don’t get around to. Since this model only requires basic handyman skills, the barrier of entry is pretty low from a skill perspective. A handy teenager could easily start this type of business. I’m a big fan of this business model. Even though there are more profitable models out there, this is a low-stress, simple, and reliable way to build a handyman business. It’s also easier on your body than many other models since you are doing a wide variety of small projects instead of repetitive and labor-intensive big projects. Of course, there are downsides as well. The work is often not very challenging and can be tedious at times. Secondly, while you can make a solid six-figure income doing these types of services, there are more profitable models out there (I’ll talk about those next). Making this business model work requires just four ingredients:  Good customer service and communication Attention to detail Good marketing to attract customers who are willing to pay higher rates for convenience and service. The right pricing model.  #3 The Specialist Don’t assume that to start a handyman business you have to do everything. In many cases, it can be more profitable to specialize. For example, you can start a business just mounting TVs. I’ve seen it done many times. Or a business that just installs trampolines. Or a business that just focuses on pressure washing. Of course, there are also the more common specialties like painting, window cleaning, Electrical, or plumbing. This business model has several advantages:  It’s efficient since you only need limited tools, and you’ll tend to get faster the more you do similar projects. It’s much easier to do flat-rate pricing, which can be more profitable than charging based on time. Many people want to hire the best of the best. By specializing, you’ll likely surpass the generalist in skill and knowledge for your specialty. It can be easier to scale and hire employees if that’s your goal. It can be more profitable.  However, this type of business will typically require better marketing skills to stay busy. Since you are only doing a particular service, you will need more customers than a To-Do-List or Do-It-All Handyman since you won’t have as much repeat business. Customers may only need your service once every few years as opposed to the previous two models, where some customers would hire you monthly or even weekly. I like this business model. If making a lot of money is your primary goal, then this is usually the best model to go with because once you dial in your systems and marketing, you can crank out jobs super fast, optimize your pricing to generate very high income per hour, and implement other strategies for boosting your profits. #4 The Cherry Picker Handyman This is the type of handyman business that cherry-picks jobs based on the skill set and interests of the handyman. It’s a mix between The Specialist, The Do-It-All, and The To-Do-List Handyman, except in this model, you only take on jobs you enjoy or are profitable. You can then recommend other contractors for the jobs you don’t want. I like this business model because it allows you to enjoy the higher profits of having a specialty service or two while still allowing you to enjoy the security and variety of general home repairs and maintenance. The key to making this work (as with many of these models) is to have good marketing systems. You want to get to the point where your schedule is booked out several weeks in advance so you can be picky about which jobs and customers you take on. Additionally, your marketing will help fill your schedule with your most profitable services. This is an excellent, low-risk way to transition from a general Do-It-All Handyman to a Specialist because you can rely on your repeat customers for security while moving your business in a more profitable direction. Another benefit is that this business model is enjoyable because of the variety and excitement of growing profits. The downsides are that this business is not as easily systemized or scaled and is more complex than The Specialist. But it’s important to note that it’s not all about making money. Personally, I’m happy to take a minor hit to my profits for a bit of variety in my day. #5 The Franchise Handyman The fifth handyman business model is investing in a handyman business franchise. If you prefer working in the office and still want to be in the handyman industry, here’s an option for you. You won’t be swinging a hammer, but you can take an established brand and run with it if you’re a good businessman. This is a higher-risk business to start because of the upfront costs, but handyman business franchises come with all of the business systems in place, plus some training, so you don’t need to figure it out by yourself. The downside of this model is that it’s expensive. According to this website, you’d need to invest at least $117,000 to get started. This model gets a big thumbs down from me because I don’t think the cost justifies the value. For fast-food restaurants, I think franchises are great because you get a well-known name, systems, and food that is consistent with what customers expect. With a handyman business franchise, you get the name and the systems, but the name isn’t that powerful. You’ll still need to invest in the same amount of marketing to get it going. It’s just too easy to set up a business yourself to justify the expense. In this interview, I discuss franchises with another handyman if you want to learn more about them. #6 – The Home Maintenance Membership If none of the other business models were new to you, perhaps this one is. The Home Maintenance Membership model is when you sell a monthly or quarterly maintenance package for a monthly or quarterly membership. Just like a lawn care company, you would ideally set up automatic billing and scheduling. Services might include changing air and water filters, changing light bulbs, inspecting fire and carbon monoxide alarms, winterizing irrigation systems, fertilizing lawns, trees, and shrubs, cleaning gutters, and inspecting areas of the house like a roof and crawlspace that aren’t accessed often. This is perfect for selling to second homeowners or other wealthy clients who want hands-off home maintenance and a bit of peace of mind. Another benefit often offered to members is a discounted rate on repairs and materials. This can be a great business model because you can lock in a consistent income month to month, there is minimal skill required for most of the tasks, and it would be easy to hire employees to tackle the easy stuff. The downsides are that unless you are hiring employees, the services may get boring. This model will also usually require more direct face-to-face sales since fewer people are proactively looking for this service. You’d have to sell it to your existing customers. If you don’t like to sell stuff, this wouldn’t work well. This business is a bit more complex as well. You’d need more sophisticated software to automate customer follow-up, billing, and scheduling. Dealing with membership payments can also get annoying when people fail their payments. However, if you’re a proactive, systems-based thinker, this is a great model that will increase customer retention and build a consistent income. The inspections you’d perform would often lead to bigger and more lucrative jobs. #7 The Weekend Warrior Let’s not forget the part-time handyman business. Maybe you don’t want to leave your cushy job with full benefits until you know you can make enough to support your family and lifestyle. If that’s the case, then starting a handyman business on the side is a great option. Many homeowners are happy to get their repairs done in the evenings or on the weekends. The advantages are all pretty evident with this model. The main benefit is minimal risk because you still have your day job to fall back on if things don’t work out. The only disadvantage is your business growth will be slowed because you won’t have as much time to work on it. But it’s better to get started slowly than not to get started at all! Final Thoughts As you can see from these examples, the handyman business is one of the most flexible businesses you can run. If you only want to work on the weekends, you can. If you get tired of doing certain repairs, you can stop doing them. If you only want to work in a small area within your city, you can do that, too. If you want to start as a Do-It-All Handyman and transition to a Specialist later and then dabble with memberships, you can do that. If you want to combine two or more of these business models, why not? If you want to run your business solo, that works great, but you can also hire employees and scale things up. Don’t make the mistake of thinking that if you start a handyman business, you will be stuck doing hard labor until you’re 75 (better than working at a desk). You can go in many directions, and if you stay consistent and work smart, profitability is unlimited. If starting a handyman business is something you are serious about, check out my step-by-step guide to starting a profitable handyman business here. From setting up your business to attracting customers, it will give you all of the information you need to start making money from your home repair skills – starting today. The post 7 Profitable Handyman Business Models That Can Replace Your Income appeared first on Handyman Startup.

The handyman business is surprisingly versatile. While many outsiders assume that all handymen businesses are identical, that couldn’t be further from the truth. Since starting my business over ten years ago, I’ve seen a wide array of business models in this industry and had the opportunity to speak with several handymen who have carved out interesting (and profitable) niches for themselves. Each model has some unique benefits and, of course, some disadvantages. Some are more profitable. Some are easier to set up. Some require minimal experience. And some of them might even surprise you. In this article, I’ll provide insight into each business model so you can pick the one that works the best for your goals, skills, and lifestyle. Listen to the podcast version of this article, which includes extra content and insights. Listen right here or on your favorite podcast app! HS034 – 7 Profitable Handyman Business Models <h2>#1 – The “Do It All” Handyman</h2> When I say do it all, I mean everything. I once spoke with a contractor from Atlanta who prides himself on serving all of the customer’s home needs. It doesn’t matter what it is. Whether it’s plumbing, electrical, bathroom remodels, a leaky faucet, or just mowing the lawn. His “We do it all” approach aims to provide the customer with the benefit of never having to call another contractor or handyman. That means he keeps them in his little web. This model often cashes in on bigger jobs like remodels and additions by providing small repairs and maintenance at very little or no charge. Although this was more common in the past, it’s rare now due to complexity and contracting laws. To pull this business model off legally in most states, you’d need to have dozens of different trade <a href="https://www.handymanstartup.com/handyman-licenses-and-laws/" rel="nofollow" target="_blank">licenses</a>, which would take decades to acquire for a single person. Of course, many people still do it; they just aren’t following the contracting laws 100%. Additionally, as homes get more advanced, many improvements require specialized knowledge to offer the highest quality products and services. Since it’s impossible to be an expert at everything, the quality of work will likely suffer with this model. But there are some advantages. The biggest one is that you’d have to invest far less in marketing because you can stay busy with just a few clients. So if you have an aversion to marketing, this might be a decent model for you. There’s also a lot of variety in the projects you take on, and you practically become family to those you serve. However, this model gets a big thumbs down from me. Other than the issues I mentioned, it’s far too complex and challenging to streamline with no added profit advantage. Plus, if I operated this way, I’d have to offer many services I hate providing to get the jobs I want. While this can be a profitable and enjoyable way to run a home repair business, it’s not my favorite. <h2>#2 – The To-Do List Handyman</h2> I didn’t know about this unique handyman business model until I interviewed <a href="https://www.handymanstartup.com/podcast-interview-with-jim-copenhaver/" rel="nofollow" target="_blank">Jim Copenhaver from Chicago</a>. Since, I’ve tried it in my own business with success and have helped many others take this approach. This model takes advantage of the opportunities created by our overly busy lives. Busy working parents don’t have the time (or skills) to take care of simple repairs and maintenance, wealthy people simply don’t want to, and the elderly can’t or don’t want to either. The type of work with this model usually includes hanging pictures, small painting projects, hanging shelves, adjusting doors, furniture assembly, and countless other small things that homeowners don’t get around to. Since this model only requires basic handyman skills, the barrier of entry is pretty low from a skill perspective. A handy teenager could easily start this type of business. I’m a big fan of this business model. Even though there are more profitable models out there, this is a low-stress, simple, and reliable way to build a handyman business. It’s also easier on your body than many other models since you are doing a wide variety of small projects instead of repetitive and labor-intensive big projects. Of course, there are downsides as well. The work is often not very challenging and can be tedious at times. Secondly, while you can make a solid six-figure income doing these types of services, there are more profitable models out there (I’ll talk about those next). Making this business model work requires just four ingredients: <ul> <li>Good customer service and communication</li> <li>Attention to detail</li> <li>Good marketing to attract customers who are willing to pay higher rates for convenience and service.</li> <li>The right <a href="https://www.handymanstartup.com/landing/100k-handyman-pricing/" rel="nofollow" target="_blank">pricing model</a>.</li> </ul> <h2>#3 The Specialist</h2> Don’t assume that to start a handyman business you have to do everything. In many cases, <a href="https://www.handymanstartup.com/7-reasons-to-specialize-with-your-handyman-business/" rel="nofollow" target="_blank">it can be more profitable to specialize.</a> For example, you can start a business just <a href="https://www.handymanstartup.com/profitable-service-example-how-to-make-money-wall-mounting-tvs/" rel="nofollow" target="_blank">mounting TVs</a>. I’ve seen it done many times. Or a business that just installs trampolines. Or a business that just focuses on pressure washing. Of course, there are also the more common specialties like painting, window cleaning, Electrical, or plumbing. This business model has several advantages: <ul> <li>It’s efficient since you only need limited tools, and you’ll tend to get faster the more you do similar projects.</li> <li>It’s much easier to do flat-rate pricing, which can be more profitable than charging based on time.</li> <li>Many people want to hire the best of the best. By specializing, you’ll likely surpass the generalist in skill and knowledge for your specialty.</li> <li>It can be easier to scale and hire employees if that’s your goal.</li> <li>It can be more profitable.</li> </ul> However, this type of business will typically require better <a href="https://www.handymanstartup.com/good-marketing-makes-everything-easier/" rel="nofollow" target="_blank">marketing skills</a> to stay busy. Since you are only doing a particular service, you will need more customers than a To-Do-List or Do-It-All Handyman since you won’t have as much repeat business. Customers may only need your service once every few years as opposed to the previous two models, where some customers would hire you monthly or even weekly. I like this business model. If making a lot of money is your primary goal, then this is usually the best model to go with because once you dial in your systems and marketing, you can crank out jobs super fast, optimize your pricing to generate very high income per hour, and implement other strategies for boosting your profits. <h2>#4 The Cherry Picker Handyman</h2> This is the type of handyman business that cherry-picks jobs based on the skill set and interests of the handyman. It’s a mix between The Specialist, The Do-It-All, and The To-Do-List Handyman, except in this model, you only take on jobs you enjoy or are profitable. You can then recommend other contractors for the jobs you don’t want. I like this business model because it allows you to enjoy the higher profits of having a specialty service or two while still allowing you to enjoy the security and variety of general home repairs and maintenance. The key to making this work (as with many of these models) is to have good marketing systems. You want to get to the point where your schedule is booked out several weeks in advance so you can be picky about which jobs and customers you take on. Additionally, your marketing will help fill your schedule with your most profitable services. This is an excellent, low-risk way to transition from a general Do-It-All Handyman to a Specialist because you can rely on your repeat customers for security while moving your business in a more profitable direction. Another benefit is that this business model is enjoyable because of the variety and excitement of growing profits. The downsides are that this business is not as easily systemized or scaled and is more complex than The Specialist. But it’s important to note that it’s not all about making money. Personally, I’m happy to take a minor hit to my profits for a bit of variety in my day. <h2>#5 The Franchise Handyman</h2> The fifth handyman business model is investing in a handyman business franchise. If you prefer working in the office and still want to be in the handyman industry, here’s an option for you. You won’t be swinging a hammer, but you can take an established brand and run with it if you’re a good businessman. This is a higher-risk business to start because of the upfront costs, but handyman business franchises come with all of the business systems in place, plus some training, so you don’t need to figure it out by yourself. The downside of this model is that it’s expensive. According to <a href="https://www.franchisedirect.com/directory/mrhandyman/ufoc/181/" rel="nofollow" target="_blank">this website</a>, you’d need to invest at least $117,000 to get started. This model gets a big thumbs down from me because I don’t think the cost justifies the value. For fast-food restaurants, I think franchises are great because you get a well-known name, systems, and food that is consistent with what customers expect. With a handyman business franchise, you get the name and the systems, but the name isn’t that powerful. You’ll still need to invest in the same amount of marketing to get it going. It’s just too easy to <a href="https://www.handymanstartup.com/landing/start-handyman-business-course/" rel="nofollow" target="_blank">set up a business yourself</a> to justify the expense. In <a href="https://www.handymanstartup.com/podcast-interview-with-jim-copenhaver/" rel="nofollow" target="_blank">this interview</a>, I discuss franchises with another handyman if you want to learn more about them. <h2>#6 – The Home Maintenance Membership</h2> If none of the other business models were new to you, perhaps this one is. The Home Maintenance Membership model is when you sell a monthly or quarterly maintenance package for a monthly or quarterly membership. Just like a lawn care company, you would ideally set up automatic billing and scheduling. Services might include changing air and water filters, changing light bulbs, inspecting fire and carbon monoxide alarms, winterizing irrigation systems, fertilizing lawns, trees, and shrubs, cleaning gutters, and inspecting areas of the house like a roof and crawlspace that aren’t accessed often. This is perfect for selling to second homeowners or other wealthy clients who want hands-off home maintenance and a bit of peace of mind. Another benefit often offered to members is a discounted rate on repairs and materials. This can be a great business model because you can lock in a consistent income month to month, there is minimal skill required for most of the tasks, and it would be easy to hire employees to tackle the easy stuff. The downsides are that unless you are hiring employees, the services may get boring. This model will also usually require more direct face-to-face sales since fewer people are proactively looking for this service. You’d have to sell it to your existing customers. If you don’t like to sell stuff, this wouldn’t work well. This business is a bit more complex as well. You’d need more sophisticated software to automate customer follow-up, billing, and scheduling. Dealing with membership payments can also get annoying when people fail their payments. However, if you’re a proactive, systems-based thinker, this is a great model that will increase customer retention and build a consistent income. The inspections you’d perform would often lead to bigger and more lucrative jobs. <h2>#7 The Weekend Warrior</h2> Let’s not forget the <a href="https://www.handymanstartup.com/make-1000-dollars-in-5-hours-per-week-with-part-time-handyman-business/" rel="nofollow" target="_blank">part-time handyman business</a>. Maybe you don’t want to leave your cushy job with full benefits until you know you can make enough to support your family and lifestyle. If that’s the case, then <a href="https://www.handymanstartup.com/how-to-start-and-grow-a-business-while-working-a-full-time-job/" rel="nofollow" target="_blank">starting a handyman business on the side</a> is a great option. Many homeowners are happy to get their repairs done in the evenings or on the weekends. The advantages are all pretty evident with this model. The main benefit is minimal risk because you still have your day job to fall back on if things don’t work out. The only disadvantage is your business growth will be slowed because you won’t have as much time to work on it. But it’s better to get started slowly than not to get started at all! <h2>Final Thoughts</h2> As you can see from these examples, the handyman business is one of the most flexible businesses you can run. If you only want to work on the weekends, you can. If you get tired of doing certain repairs, you can stop doing them. If you only want to work in a small area within your city, you can do that, too. If you want to start as a Do-It-All Handyman and transition to a Specialist later and then dabble with memberships, you can do that. If you want to combine two or more of these business models, why not? If you want to run your business solo, that works great, but you can also hire employees and scale things up. Don’t make the mistake of thinking that if you start a handyman business, you will be stuck doing hard labor until you’re 75 (better than working at a desk). You can go in many directions, and if you stay consistent and <a href="https://www.handymanstartup.com/double-income-consistent-growth/" rel="nofollow" target="_blank">work smart</a>, profitability is unlimited. If starting a handyman business is something you are serious about, check out my step-by-step guide to starting a profitable handyman business <a href="https://www.handymanstartup.com/landing/start-handyman-business-course/" rel="nofollow" target="_blank">here</a>. From setting up your business to attracting customers, it will give you all of the information you need to start making money from your home repair skills – starting today. The post <a href="https://www.handymanstartup.com/6-proven-handyman-business-models/" rel="nofollow" target="_blank">7 Profitable Handyman Business Models That Can Replace Your Income</a> appeared first on <a href="https://www.handymanstartup.com" rel="nofollow" target="_blank">Handyman Startup</a>.

7 Profitable Handyman Business Models That Can Replace Your Income

Naming a handyman business can be challenging since so many names have already been taken. I remember struggling for weeks to lock down a name that was professional and memorable when starting my business. However, in this article, I’ll share a quick and easy way to generate a unique and professional name for your new handyman business. I’ll also share some great examples. This process has helped thousands of people worldwide, so you’ve found the right place. Let’s start with some examples…  Now, listen to the podcast version of this article, which includes extra content. Listen right here or on your favorite podcast app! HS033 – Finding the Perfect Name for Your Handyman Business Contents  50+ handyman business name examples Best practices when naming your business How to come up with the perfect name Legal considerations when naming a handyman business   50+ Handyman Business Name Examples Catchy Handyman Business Name Ideas Handyman From Mars Odd Job Bob Mr. Handy Hands Punch-list Handyman Extra Hand Handyman Fix-It Professor Mr. Fix All Honey-Do Handyman HandyPro Home Services The House Dr. Mr. Handy Hands Handy Dan Blue Bear Home Repair Creative Names for a Handyman Business Oak Tree Handyman Silver and Blue Handyman Sunset Hills Handyman Wolfpack Handyman Blue Sky Home Repairs Whispering Oaks Handyman Cactus Jack Home Repair Franchise Handyman Business Names Mr. Handyman Handyman Connection Handyman Matters The Honey-Do Service House Doctors Handyman Services Andy OnCall Maintenance Made Simple Odd Job Bob Home Fixology Handy Pro Handyman Service Handyman Network Yellow Van Handyman Home Task Handyman Services Clever Business Names for Handyman Himalayan Handyman Medieval Home Solutions Odd Job Home Services TV Mounting Experts Smart Home Maintenance Rocky Mountain Home Repair Sierra Home Solutions Rowdy Creek Home Maintenance Professional Handyman Business Names Diamond Home Services Perry Construction Premiere Door and Window Paramount Builders Credible Construction More Handyman Business Name Ideas Kalamazoo Home Repair UpKeep Home Maintenance All Pro Fix It Handyman Service Professional Perfectionist Handyman DNA Handyman Copper Creek Handyman Overhaul Handyman 1st Service Handyman Harmony Improvements All Service Home Repair High-End Handyman Services Welcome Home Handyman The Handy Bee All American Handyman Power Pro Handyman To-Do List Handyman What a Useful Guy Gold Star Handyman Handyman Repair Guy JHJ Handyman Highlands Home Solutions Trinity River Handyman Long List Handyman  Tips and best practices for choosing the perfect name As you can see in the example above, handyman business names range from creative and catchy to direct and to the point. In many cases, pros will simply name their business after themselves. Mike’s Handyman Services or Paul Jones Home Repair are two examples. Regardless of the route you take, here are some essential things to keep in mind, so you avoid common naming mistakes and come up with a great name that helps, instead of hurts, your marketing efforts. #1 – Pick a name that is easy to say and spell. If people can’t pronounce your business name, it will be more difficult for them to recommend you to others. Not only will your name be less memorable, but people also don’t like to sound dumb, so they’ll just avoid saying your business name. Additionally, if your business name is hard to spell, it can confuse customers searching for your business online. Since online marketing is the most effective way to attract customers, having a name that is easy to spell can make a big difference in your marketing efforts. #2 – Pick a unique or catchy name (sometimes). If you plan on eventually scaling your handyman business into a nationally recognized brand, then choose a unique and catchy name. You want your business name to stick in your customers’ heads and be memorable. Odd Job Bob is a great example from above that does this well. Amazon, Facebook, Twitter, Apple, and Zoom are examples of large-cap companies that did this well. However, I don’t recommend modeling your name after these large tech companies because you won’t have the marketing budget to build brand recognition as they have. And that leads me to the third tip. Pro Tip If you never plan to hire employees, then having a memorable name is far less important. You’d be better off just being direct and to the point, or even naming your business after yourself. #3 – Your business name should tell people what services you offer. Being catchy or memorable is great for big businesses with a worldwide audience. But for a local handyman business, it’s typically better to simply communicate what you do with your name. You’ll never have the marketing budget to gain the recognition that bigger brands have. Catchy names may just confuse your potential customers unless the name also indicates what services you provide. You want your customers to know what services you provide by just reading your name. For a handyman business, that usually means including words like “home repair,” “handyman,” or “handyman services” in your name. However, you don’t have to be this obvious. Look at the name HandyPRO for example. It’s relatively clear what services are provided while being unique and catchy. Are you specializing in a particular niche? If so, try to work something in that says what you specialize in. A good example of this is the franchise Shelf Genie. It’s pretty obvious what they do. They install shelves. #4 – Choose an area-specific name. Are you planning to target a specific area or neighborhood in your city? Let’s say you live in San Antonio. San Antonio Handyman would be a great business name, but it’s probably already taken. But, let’s say you also live in the suburb Whispering Oaks, which is your target service area. Choosing a business name like Whispering Oaks Handyman would be a great name, and the chances of it being available are much higher. Of course, you can still offer services outside Whispering Oaks, and you probably will. But this would be an excellent way to attract customers who live in your ideal service area and choose a great name. #5 – Make sure the .com is available for your business name. Online marketing is where most of your new customers will come from, and your website is the hub of your online presence. Ideally, you’ll be able to get the domain name that matches your business name with a .com. Domain names that end in .com are always better than .net, .repair, or any other URL extension for business websites. This is because .com carries the most authority, it’s the most common (over 50% of websites use it), and it’s what customers are most likely to type in. I highly encourage you to read this guide (the part on choosing a domain name) before making a final decision on your business name. Finding a good URL is going to restrict your name options significantly. When brainstorming names for my business, I would fall in love with a name only to discover that the URL wasn’t available. I eventually found one I was happy with, and the URL was available, but it took some time. Patience is essential here. Pro Tip If you find a handyman business name that you aren’t willing to change and the .com is already taken, a .net is a good second choice. However, I would avoid any other domain extensions unless you have an excellent reason to choose them. #6 – Choose a business name that appeals to your ideal customers. Choosing a name that you think is cool may be fun, but your focus should be on the customer. Choose something that will increase their trust in you or resonate with them in another way. If you’re planning to target dual-income professional parents (a great market, by the way), make sure you pick a family-friendly name. You don’t want to scare them away with a name like “Hardcore Handyman.” Also, remember that you don’t have to appeal to everybody. Just make sure your name appeals to somebody. Read Targeting the right customers for tips on choosing profitable customers you want to work with.  How to come up with the perfect name for your handyman business Here, you’ll generate dozens of unique and professional name ideas (even if you aren’t creative). Then, you can follow the rest of this step-by-step process to choose the perfect name. Step #1 – Brainstorming questions As you answer these questions, write down your answers. Try not to filter your ideas. You can edit your list later, but for now, just write them down (even the bad ones).  What services will you be offering? Jim Copenhaver planned on handling customers’ to-do lists and came up with the name PunchList Handyman (click here to learn more about his business). Another great name I’ve seen is “The Door Man.” This business obviously focuses on door repairs and installs. What specific neighborhoods or suburbs will you be servicing? You may consider naming your business after one of those areas to be hyper-relevant to those customers. That’s exactly what Michael Rodriguez and it worked for him. List any words that describe you or your business. Some examples are professional, experienced, quality, fast, speedy, quick, advanced, and meticulous. Obviously, you’ll want to focus on adjectives that put you in a positive light with customers. What will you provide for your customers besides your services? This could include emotions, a state of mind, or more time. Examples might include comfort, less stress, peace of mind, more time, happiness, etc. What geological features do you have around your city or state? List all of the mountains, rivers, parks, valleys, landmarks, or anything else you can think of. You may come across something that sounds good and is meaningful to you and your customers. Are then any local plants, animals, trees, or flowers that you resonate with? Naming your business after a plant that demonstrates qualities that you will have as a handyman is a great way to imply benefits within your name and show relevance to your city. What college or professional teams do you have locally? If you’re a big fan, then consider naming your business after the team. For example, here in Reno we have the University of Nevada, Reno. Our colors are silver and blue, our mascot is the wolf, and the team and fans are referred to as the wolfpack. Some examples from this could be “Wolfpack Handyman” or “Silver and Blue Home Repair.”  Step #2 – Find synonyms Now that you have a long list of name ideas and words, run them through a thesaurus to discover more. Do a Google search with any word from your list and then the word “synonym” (for example: “repair synonym”). Write down any good synonyms that you come up with from the thesaurus. Step #3 – Combine words to generate name ideas Once you have a large list of words, start combining them and see if you can find something clever. Don’t be afraid to modify a word slightly or combine two words into a single word. If you get stuck, re-read the list of examples above for more ideas. From this exercise, try to come up with at least 20 decent names that you may consider using. Step #4 – Availability quick-check Now that you have a decent list of potential names, it’s time to quickly see which ones are already taken to widdle down your list. The easiest way to do this is to search in google for each business name. To help eliminate irrelevant search results, use the following search modifier: allintitle: “name idea #1” This will only show results for web pages with the business name in the title and exactly how you type it in. If a name is already taken by another business in your area, cross it off your list. If the name is taken by someone in another city or the .com is already taken, then consider crossing it off (unless it’s a perfect name that you want to investigate further). Go through all of your name ideas to widdle down your list. Step #5 – Get feedback Share your name ideas with friends and family. This is helpful for two reasons. One, it will give you feedback on the quality of your ideas. Two, your name ideas may inspire a friend to come up with a good name that you would have never thought of. Pro Tip Your handyman business name won’t make or break your business by itself, but it will have a small impact on your ability to attract customers. A great name will make advertising slightly easier, and a bad name will make it harder. Step #6 – Dig deeper into your favorite names After this process, you’ll likely have one or two favorites. Now it’s time to dig deeper, find a good URL to match, and make sure you can legally move forward with that name. It took me several weeks to decide on a name for my handyman business. I had plenty of excellent ideas, but most were taken. Don’t get discouraged by this because there are plenty of good names still out there.  Legal considerations when choosing a name for your handyman business Many handyman business names are already trademarked, or at risk of being trademarked, so you’ll want to ensure your choice is safe. In a perfect world, you would just go to a website, type in your desired business name, and it would tell you whether or not you could use that name. Unfortunately, this website doesn’t exist (that I know of), which makes this process a pain in the ass. I’ll try to make it as simple as possible for you. Please note that I’m not an attorney, and this is not legal advice. This is information from my experience.  Do a quick search on Google as I described above. If it passes #1, then check to see if your name is trademarked by going to the USPTO’s website here. If the name is trademarked, you are better off not using it. However, there are some situations where you can. If the company that trademarked that name has nothing to do with anything close to your industry, and you would not compete with them, spoil their brand, or have any other negative effect on their brand, you can cautiously proceed forward. However, there are always risks when doing this. Consult with an attorney to make sure. If you want to be sure, go to the county clerk’s office and have them search the fictitious name database for your state. I didn’t bother with this personally, but I was clear on the risk I was taking. You may choose to do an unregistered trademarks search by visiting thomasnet.com and other similar websites. However, these are likely incomplete and will only give you more assurance that your name isn’t taken.  If you have cleared all the checks on this list, you should be good to go! Congratulations! If you want to be extra safe, talk to a patent and trademark attorney and have them do a more extensive search. Have it trademarked if you want to lock down your new name and protect it. This is optional, though. If you will be running a single-person operation and never plan to expand, trademarking is a waste of time. Conclusion The name of your handyman business won’t make or break your business, but it can impact your ability to attract customers. It’s worth your time to put some effort into choosing the right name for your situation, but spending too much time here is just plain ineffective. If you never plan to sell or franchise your business, there’s nothing wrong with simply naming it after yourself or a local geological feature. Just keep it simple and easy to spell, make sure it tells people what services you offer, and that you can lock down a decent domain name related to it. Then move on to more important stuff, like building your website. The post Handyman Business Names: The Ultimate Guide appeared first on Handyman Startup.

Naming a handyman business can be challenging since so many names have already been taken. I remember struggling for weeks to lock down a name that was professional and memorable when starting my business. However, in this article, I’ll share a quick and easy way to generate a unique and professional name for your new handyman business. I’ll also share some great examples. This process has helped thousands of people worldwide, so you’ve found the right place. Let’s start with some examples… Now, listen to the podcast version of this article, which includes extra content. Listen right here or on your favorite podcast app! HS033 – Finding the Perfect Name for Your Handyman Business <h2>Contents</h2> <ul> <li><a href="#examples" rel="nofollow" target="_blank">50+ handyman business name examples</a></li> <li><a href="#tips" rel="nofollow" target="_blank">Best practices when naming your business</a></li> <li><a href="#howto" rel="nofollow" target="_blank">How to come up with the perfect name</a></li> <li><a href="#legal" rel="nofollow" target="_blank">Legal considerations when naming a handyman business</a></li> </ul> <a></a> <h2>50+ Handyman Business Name Examples</h2> <h3>Catchy Handyman Business Name Ideas</h3> Handyman From Mars Odd Job Bob Mr. Handy Hands Punch-list Handyman Extra Hand Handyman Fix-It Professor Mr. Fix All Honey-Do Handyman HandyPro Home Services The House Dr. Mr. Handy Hands Handy Dan Blue Bear Home Repair <h3>Creative Names for a Handyman Business</h3> Oak Tree Handyman Silver and Blue Handyman Sunset Hills Handyman Wolfpack Handyman Blue Sky Home Repairs Whispering Oaks Handyman Cactus Jack Home Repair <h3>Franchise Handyman Business Names</h3> Mr. Handyman Handyman Connection Handyman Matters The Honey-Do Service House Doctors Handyman Services Andy OnCall Maintenance Made Simple Odd Job Bob Home Fixology Handy Pro Handyman Service Handyman Network Yellow Van Handyman Home Task Handyman Services <h3>Clever Business Names for Handyman</h3> Himalayan Handyman Medieval Home Solutions Odd Job Home Services TV Mounting Experts Smart Home Maintenance Rocky Mountain Home Repair Sierra Home Solutions Rowdy Creek Home Maintenance <h3>Professional Handyman Business Names</h3> Diamond Home Services Perry Construction Premiere Door and Window Paramount Builders Credible Construction <h3>More Handyman Business Name Ideas</h3> Kalamazoo Home Repair UpKeep Home Maintenance All Pro Fix It Handyman Service Professional Perfectionist Handyman DNA Handyman Copper Creek Handyman Overhaul Handyman 1st Service Handyman Harmony Improvements All Service Home Repair High-End Handyman Services Welcome Home Handyman The Handy Bee All American Handyman Power Pro Handyman To-Do List Handyman What a Useful Guy Gold Star Handyman Handyman Repair Guy JHJ Handyman Highlands Home Solutions Trinity River Handyman Long List Handyman <a></a> <h2>Tips and best practices for choosing the perfect name</h2> As you can see in the example above, handyman business names range from creative and catchy to direct and to the point. In many cases, pros will simply name their business after themselves. Mike’s Handyman Services or Paul Jones Home Repair are two examples. Regardless of the route you take, here are some essential things to keep in mind, so you avoid common naming mistakes and come up with a great name that helps, instead of hurts, your marketing efforts. <h3>#1 – Pick a name that is easy to say and spell.</h3> If people can’t pronounce your business name, it will be more difficult for them to recommend you to others. Not only will your name be less memorable, but people also don’t like to sound dumb, so they’ll just avoid saying your business name. Additionally, if your business name is hard to spell, it can confuse customers searching for your business online. Since online marketing is the <a href="https://www.handymanstartup.com/best-way-to-advertise-handyman-business/" rel="nofollow" target="_blank">most effective way to attract customers</a>, having a name that is easy to spell can make a big difference in your marketing efforts. <h3>#2 – Pick a unique or catchy name (sometimes).</h3> If you plan on eventually scaling your handyman business into a nationally recognized brand, then choose a unique and catchy name. You want your business name to stick in your customers’ heads and be memorable. Odd Job Bob is a great example from above that does this well. Amazon, Facebook, Twitter, Apple, and Zoom are examples of large-cap companies that did this well. However, I don’t recommend modeling your name after these large tech companies because you won’t have the marketing budget to build brand recognition as they have. And that leads me to the third tip. Pro Tip If you never plan to hire employees, then having a memorable name is far less important. You’d be better off just being direct and to the point, or even naming your business after yourself. <h3>#3 – Your business name should tell people what services you offer.</h3> Being catchy or memorable is great for big businesses with a worldwide audience. But for a local handyman business, it’s typically better to simply communicate what you do with your name. You’ll never have the marketing budget to gain the recognition that bigger brands have. Catchy names may just confuse your potential customers unless the name also indicates what services you provide. You want your customers to know what services you provide by just reading your name. For a handyman business, that usually means including words like “home repair,” “handyman,” or “handyman services” in your name. However, you don’t have to be this obvious. Look at the name HandyPRO for example. It’s relatively clear what services are provided while being unique and catchy. Are you <a href="https://www.handymanstartup.com/7-reasons-to-specialize-with-your-handyman-business/" rel="nofollow" target="_blank">specializing in a particular niche</a>? If so, try to work something in that says what you specialize in. A good example of this is the franchise Shelf Genie. It’s pretty obvious what they do. They install shelves. <h3>#4 – Choose an area-specific name.</h3> Are you planning to target a specific area or neighborhood in your city? Let’s say you live in San Antonio. San Antonio Handyman would be a great business name, but it’s probably already taken. But, let’s say you also live in the suburb Whispering Oaks, which is your target service area. Choosing a business name like Whispering Oaks Handyman would be a great name, and the chances of it being available are much higher. Of course, you can still offer services outside Whispering Oaks, and you probably will. But this would be an excellent way to attract customers who live in your ideal service area and choose a great name. <h3>#5 – Make sure the .com is available for your business name.</h3> Online marketing is where most of your new customers will come from, and your website is the hub of your online presence. Ideally, you’ll be able to get the domain name that matches your business name with a .com. Domain names that end in .com are always better than .net, .repair, or any other URL extension for business websites. This is because .com carries the most authority, it’s the most common (over <a href="https://w3techs.com/technologies/overview/top_level_domain" rel="nofollow" target="_blank">50% of websites use it</a>), and it’s what customers are most likely to type in. I highly encourage you to read <a href="https://www.handymanstartup.com/how-to-build-a-website/" rel="nofollow" target="_blank">this guide</a> (the part on choosing a domain name) before making a final decision on your business name. Finding a good URL is going to restrict your name options significantly. When brainstorming names for my business, I would fall in love with a name only to discover that the URL wasn’t available. I eventually found one I was happy with, and the URL was available, but it took some time. Patience is essential here. Pro Tip If you find a handyman business name that you aren’t willing to change and the .com is already taken, a .net is a good second choice. However, I would avoid any other domain extensions unless you have an excellent reason to choose them. <h3>#6 – Choose a business name that appeals to your ideal customers.</h3> Choosing a name that you think is cool may be fun, but your focus should be on the customer. Choose something that will increase their trust in you or resonate with them in another way. If you’re planning to target dual-income professional parents (a great market, by the way), make sure you pick a family-friendly name. You don’t want to scare them away with a name like “Hardcore Handyman.” Also, remember that you don’t have to appeal to everybody. Just make sure your name appeals to somebody. Read <a href="https://www.handymanstartup.com/target-the-right-customers" rel="nofollow" target="_blank">Targeting the right customers</a> for tips on choosing profitable customers you want to work with. <a></a> <h2>How to come up with the perfect name for your handyman business</h2> Here, you’ll generate dozens of unique and professional name ideas (even if you aren’t creative). Then, you can follow the rest of this step-by-step process to choose the perfect name. <h3>Step #1 – Brainstorming questions</h3> As you answer these questions, write down your answers. Try not to filter your ideas. You can edit your list later, but for now, just write them down (even the bad ones). <ol> <li>What services will you be offering? Jim Copenhaver planned on handling customers’ to-do lists and came up with the name PunchList Handyman (<a href="https://www.handymanstartup.com/podcast-interview-with-jim-copenhaver/" rel="nofollow" target="_blank">click here to learn more about his business</a>). Another great name I’ve seen is “The Door Man.” This business obviously focuses on door repairs and installs.</li> <li>What specific neighborhoods or suburbs will you be servicing? You may consider naming your business after one of those areas to be hyper-relevant to those customers. That’s exactly what Michael Rodriguez and <a href="https://www.handymanstartup.com/hs-014-how-to-seriously-limit-your-service-area/" rel="nofollow" target="_blank">it worked for him</a>.</li> <li>List any words that describe you or your business. Some examples are professional, experienced, quality, fast, speedy, quick, advanced, and meticulous. Obviously, you’ll want to focus on adjectives that put you in a positive light with customers.</li> <li>What will you provide for your customers besides your services? This could include emotions, a state of mind, or more time. Examples might include comfort, less stress, peace of mind, more time, happiness, etc.</li> <li>What geological features do you have around your city or state? List all of the mountains, rivers, parks, valleys, landmarks, or anything else you can think of. You may come across something that sounds good and is meaningful to you and your customers.</li> <li>Are then any local plants, animals, trees, or flowers that you resonate with? Naming your business after a plant that demonstrates qualities that you will have as a handyman is a great way to imply benefits within your name and show relevance to your city.</li> <li>What college or professional teams do you have locally? If you’re a big fan, then consider naming your business after the team. For example, here in Reno we have the University of Nevada, Reno. Our colors are silver and blue, our mascot is the wolf, and the team and fans are referred to as the wolfpack. Some examples from this could be “Wolfpack Handyman” or “Silver and Blue Home Repair.”</li> </ol> <h3>Step #2 – Find synonyms</h3> Now that you have a long list of name ideas and words, run them through a thesaurus to discover more. Do a Google search with any word from your list and then the word “synonym” (for example: “repair synonym”). Write down any good synonyms that you come up with from the thesaurus. <h3>Step #3 – Combine words to generate name ideas</h3> Once you have a large list of words, start combining them and see if you can find something clever. Don’t be afraid to modify a word slightly or combine two words into a single word. If you get stuck, re-read the list of examples above for more ideas. From this exercise, try to come up with at least 20 decent names that you may consider using. <h3>Step #4 – Availability quick-check</h3> Now that you have a decent list of potential names, it’s time to quickly see which ones are already taken to widdle down your list. The easiest way to do this is to search in google for each business name. To help eliminate irrelevant search results, use the following search modifier: allintitle: “name idea #1” This will only show results for web pages with the business name in the title and exactly how you type it in. If a name is already taken by another business in your area, cross it off your list. If the name is taken by someone in another city or the .com is already taken, then consider crossing it off (unless it’s a perfect name that you want to investigate further). Go through all of your name ideas to widdle down your list. <h3>Step #5 – Get feedback</h3> Share your name ideas with friends and family. This is helpful for two reasons. One, it will give you feedback on the quality of your ideas. Two, your name ideas may inspire a friend to come up with a good name that you would have never thought of. Pro Tip Your handyman business name won’t make or break your business by itself, but it will have a small impact on your ability to attract customers. A great name will make advertising slightly easier, and a bad name will make it harder. <h3>Step #6 – Dig deeper into your favorite names</h3> After this process, you’ll likely have one or two favorites. Now it’s time to dig deeper, find a good URL to match, and make sure you can legally move forward with that name. It took me several weeks to decide on a name for my handyman business. I had plenty of excellent ideas, but most were taken. Don’t get discouraged by this because there are plenty of good names still out there. <a></a> <h2>Legal considerations when choosing a name for your handyman business</h2> Many handyman business names are already trademarked, or at risk of being trademarked, so you’ll want to ensure your choice is safe. In a perfect world, you would just go to a website, type in your desired business name, and it would tell you whether or not you could use that name. Unfortunately, this website doesn’t exist (that I know of), which makes this process a pain in the ass. I’ll try to make it as simple as possible for you. Please note that I’m not an attorney, and this is not legal advice. This is information from my experience. <ol> <li>Do a quick search on Google as I described above.</li> <li>If it passes #1, then check to see if your name is trademarked by going to the USPTO’s website <a href="http://www.uspto.gov/main/trademarks.htm" rel="noopener nofollow" target="_blank">here</a>. If the name is trademarked, you are better off not using it. However, there are some situations where you can. If the company that trademarked that name has nothing to do with anything close to your industry, and you would not compete with them, spoil their brand, or have any other negative effect on their brand, you can cautiously proceed forward. However, there are always risks when doing this. Consult with an attorney to make sure.</li> <li>If you want to be sure, go to the county clerk’s office and have them search the fictitious name database for your state. I didn’t bother with this personally, but I was clear on the risk I was taking.</li> <li>You may choose to do an unregistered trademarks search by visiting <a href="http://www.thomasnet.com" rel="noopener nofollow" target="_blank">thomasnet.com</a> and other similar websites. However, these are likely incomplete and will only give you more assurance that your name isn’t taken.</li> </ol> If you have cleared all the checks on this list, you should be good to go! Congratulations! If you want to be extra safe, talk to a patent and trademark attorney and have them do a more extensive search. Have it trademarked if you want to lock down your new name and protect it. This is optional, though. If you will be running a single-person operation and never plan to expand, trademarking is a waste of time. <h2>Conclusion</h2> The name of your handyman business won’t make or break your business, but it can impact your ability to attract customers. It’s worth your time to put some effort into choosing the right name for your situation, but spending too much time here is just plain ineffective. If you never plan to sell or franchise your business, there’s nothing wrong with simply naming it after yourself or a local geological feature. Just keep it simple and easy to spell, make sure it tells people what services you offer, and that you can lock down a decent domain name related to it. Then move on to more important stuff, like <a href="https://www.handymanstartup.com/how-to-build-a-website/" rel="nofollow" target="_blank">building your website</a>. The post <a href="https://www.handymanstartup.com/handyman-business-names/" rel="nofollow" target="_blank">Handyman Business Names: The Ultimate Guide</a> appeared first on <a href="https://www.handymanstartup.com" rel="nofollow" target="_blank">Handyman Startup</a>.

Handyman Business Names: The Ultimate Guide

The handyman business is a perfect side hustle. The overhead is low, and it only takes a few hours per week to generate a profit as long as you charge enough for your services. So in this article, I’m going to break down the numbers to show you exactly how much you would need to charge to make an extra one thousand big ones each month while only working five hours per week total. If you’re starting your business while working full-time, this is a great initial goal to have because if you can accomplish it, then you have a proven formula for a six-figure income as a pro handyman. Plus, $1,000 extra each month is nice. You can buy all kinds of fun stuff and experiences with that much moola. Let’s dive into the math and get a realistic view of how to do this. Listen to the podcast version of this article, which includes extra content. Listen right here or on your favorite podcast app! HS032 – Make $1,000 per month in five hours per week with a part-time handyman business. How to Make $1,000 Per Month In Just 5 Hours Per Week To make $1,000 per month in just five hours per week, you’ll need to average about $95 per hour when providing services and then work about 3.5 hours per week in billable hours. That doesn’t mean you should charge by the hour, it just means you need to average that much for each hour you work. Let’s talk more about how I got to this number. The Math First, we need to figure out how many hours per month five hours per week equates to. So, let’s take 5 hrs and multiply that by 52 since there are 52 weeks in the year. Then, we’ll divide that number by 12 since there are 12 months in the year. That means that five hours per week is 21.7 hours per month. Now, many people might be tempted just to take $1,000 and divide it by 21.7, but it’s not that easy. If you did this, you would get ~$46 per hour. But if you charge that much, you’d actually make much less than $1,000 per month because you aren’t accounting for taxes or expenses – a mistake I see happening way too often. Just because your business generated $1,000 doesn’t mean you get to keep $1,000. I know that’s obvious to anybody who has been in business, but those who haven’t often don’t realize this. So let’s do some better math that includes these basic expenses. Since you are just operating part-time on a small scale, there’s a good chance you can keep your expenses lower than you would if you went full-time. Let’s say you already have your own tools and a vehicle you can use. At a minimum, you would still have the following expenses. Very basic expenses for a lean part-time handyman business:  Liability Insurance: $70-$100 per month (optional but a good idea) Vehicle Mileage and Gas: $75 per month Tools and Supplies: $40 per month City Business License: $300 per year = $25 per month Marketing Budget: $50 per month  Total Expenses: ~$260 per month. You’d also need to pay self-employment taxes – which, at the time of writing, are 15.3% of your gross profits. So assuming your expenses are $260 and you are, in fact, going to pay your taxes, how much would you need to charge? Well, the math gets slightly more complicated, so I’m not going to break it down here. I’ll just tell you. (You can go to this article to see the math.) After accounting for expenses, you’d have to charge $66.39 per hour to hit $1,000 per month in five hours per week. But…that still isn’t 100% correct. That’s because if all you have is five hours per week to dedicate to your business, then there is zero chance that you will get paid for all five hours. You’ll have to spend time driving, picking up supplies, following up with customers, quoting jobs, and doing things like accounting – all things you don’t get paid for. A good estimate is that those business admin tasks take an average of 1.5 hours per week. That only leaves 3.5 hours per week to actually make money – which is 15.2 hours per month. So if you spent a total of 21.7 hours working in your handyman business, you’d only bill customers for about 15.2 hours. Obviously, that will vary, but it’s a good estimate to start with. And, since you are working fewer hours, you’ll need to charge more to hit the $1k per month mark. After factoring in the time for various admin tasks, your rate bumps up from $66.39 to $94.78. So just to round up and keep things simple, that puts your target hourly rate at about $95 per hour.  How to Make $95 Per Hour Doing Basic Handyman Services To many who read this, $95 per hour sounds like a lot, and it is. There are many handymen out there who make nowhere near that much – and as much as I try to teach them how, many still haven’t found me yet. But I assure you it is totally doable. The key to making $95 per hour isn’t just charging $95 per hour. You’d probably get some resistance from customers with this rate depending on where you live and the type of services you are offering. Instead, you’ll want to charge a flat rate for as many services as possible. Or, use my favorite pricing strategy, which I share in detail in my pricing course. Here are a couple of examples of common jobs where you can make $100 or more per hour. #1 – TV wall Mount – You can easily charge $100+ to mount a TV, and it usually takes 45 minutes to an hour. #2 – Fence Repair – Bu using the method I demonstrate in this video, I have made up to $200 per hour. #3 – Door Repairs – Several small door repair jobs are easy to quote and can easily help you hit the $100 per hour mark. For more examples, download this free report: Honestly, $95 per hour really isn’t unusual once you get a handle on your pricing and marketing. And the best way to increase your rates even further is to specialize, as I talk about in this post. That allows you to become more efficient and able to provide more value to your customers in less time. What Would a 5-Hr Work Week Actually Look Like? To make $1,000 each month, you’d need to make about $332 per week in income from labor. That could be accomplished with just one fence repair on the weekend. Or by doing two or three TV wall mount installs throughout the week after work. Or a simple door repair on a Saturday morning. This would allow you to start your business and still have a life outside work. Huge bonus. Reality Check I’m not here to sugarcoat things or make them look easier than they are. So here’s a reality check. First, to reach this point, you’ll need to invest some time and effort in setting up your business. While there may be some people who will fill their 5 hours per week by simply throwing up a few craigslist ads or posting to their friends on Facebook, for most people, it won’t happen instantly. Second, to hit the $100 per hour range, you’ll almost certainly have to do some decent marketing. At a minimum, you’ll want to build a website and get some reviews on websites like Thumbtack or Yelp. And third, you’ll want to have a strong enough lead flow (jobs coming in) to where you could be picky about the kind of jobs you take on. Otherwise, you might find yourself driving too far or doing unprofitable jobs like painting – which would reduce your profits substantially and waste your time. I think these are minor inconveniences, but I want to mention them since they will take time and effort to solve. A Recipe for a Six-Figure Income The great thing about starting your business part-time is that when you’re ready to go full-time, it’s just a matter of scaling up what you’ve already created. So here’s how the math will likely work out once you go full-time. Hours invested might go from 5 to 40 hours per week, where you’ll provide handyman services for approximately 28 hours per week. Monthly expenses would likely jump from $260 to ~$1700 per month. Here’s the cool part. If you can maintain the same hourly rate of ~$95 per hour, your income will jump from $12,000 per year to $100,000 per year. So by starting with the goal of making $1,000 per month in 5 hours per week, you will essentially create the foundation for a six-figure handyman business. That amount will easily replace the income from most desk jobs. If you’ve been thinking of starting a business for a while now and just haven’t pulled the trigger, hopefully, this article will nudge you in the direction to give it a try. And when you’re ready to start a profitable handyman business, my complete step-by-step course is right here waiting for you. The post Make $1,000 Per Month in 5 Hours Per Week with a Part-Time Handyman Business appeared first on Handyman Startup.

The handyman business is a perfect side hustle. The overhead is low, and it only takes a few hours per week to generate a profit as long as you charge enough for your services. So in this article, I’m going to break down the numbers to show you exactly how much you would need to charge to make an extra one thousand big ones each month while only working five hours per week total. If you’re starting your business while working full-time, this is a great initial goal to have because if you can accomplish it, then you have a proven formula for a six-figure income as a pro handyman. Plus, $1,000 extra each month is nice. You can buy all kinds of fun stuff and experiences with that much moola. Let’s dive into the math and get a realistic view of how to do this. Listen to the podcast version of this article, which includes extra content. Listen right here or on your favorite podcast app! HS032 – Make $1,000 per month in five hours per week with a part-time handyman business. <h2>How to Make $1,000 Per Month In Just 5 Hours Per Week</h2> To make $1,000 per month in just five hours per week, you’ll need to average about $95 per hour when providing services and then work about 3.5 hours per week in billable hours. That doesn’t mean you should charge by the hour, it just means you need to average that much for each hour you work. Let’s talk more about how I got to this number. <h2>The Math</h2> First, we need to figure out how many hours per month five hours per week equates to. So, let’s take 5 hrs and multiply that by 52 since there are 52 weeks in the year. Then, we’ll divide that number by 12 since there are 12 months in the year. That means that five hours per week is 21.7 hours per month. Now, many people might be tempted just to take $1,000 and divide it by 21.7, but it’s not that easy. If you did this, you would get ~$46 per hour. But if you charge that much, you’d actually make much less than $1,000 per month because you aren’t accounting for taxes or expenses – a mistake I see happening way too often. Just because your business generated $1,000 doesn’t mean you get to keep $1,000. I know that’s obvious to anybody who has been in business, but those who haven’t often don’t realize this. So let’s do some better math that includes these basic expenses. Since you are just operating part-time on a small scale, there’s a good chance you can keep your expenses lower than you would if you went full-time. Let’s say you already have your own tools and a vehicle you can use. At a minimum, you would still have the following expenses. <h3>Very basic expenses for a lean part-time handyman business:</h3> <ul> <li><a href="https://www.handymanstartup.com/handyman-insurance/" rel="nofollow" target="_blank">Liability Insurance</a>: $70-$100 per month (optional but a good idea)</li> <li>Vehicle Mileage and Gas: $75 per month</li> <li>Tools and Supplies: $40 per month</li> <li>City Business License: $300 per year = $25 per month</li> <li>Marketing Budget: $50 per month</li> </ul> Total Expenses: ~$260 per month. You’d also need to pay self-employment taxes – which, at the time of writing, are 15.3% of your gross profits. So assuming your expenses are $260 and you are, in fact, going to pay your taxes, how much would you need to charge? Well, the math gets slightly more complicated, so I’m not going to break it down here. I’ll just tell you. (You can <a href="https://www.handymanstartup.com/figure-hourly-rate/" rel="nofollow" target="_blank">go to this article to see the math</a>.) After accounting for expenses, you’d have to charge $66.39 per hour to hit $1,000 per month in five hours per week. But…that still isn’t 100% correct. That’s because if all you have is five hours per week to dedicate to your business, then there is zero chance that you will get paid for all five hours. You’ll have to spend time driving, picking up supplies, following up with customers, quoting jobs, and doing things like accounting – all things you don’t get paid for. A good estimate is that those business admin tasks take an average of 1.5 hours per week. That only leaves 3.5 hours per week to actually make money – which is 15.2 hours per month. So if you spent a total of 21.7 hours working in your handyman business, you’d only bill customers for about 15.2 hours. Obviously, that will vary, but it’s a good estimate to start with. And, since you are working fewer hours, you’ll need to charge more to hit the $1k per month mark. After factoring in the time for various admin tasks, your rate bumps up from $66.39 to $94.78. So just to round up and keep things simple, that puts your target hourly rate at about $95 per hour.  <h2>How to Make $95 Per Hour Doing Basic Handyman Services</h2> To many who read this, $95 per hour sounds like a lot, and it is. There are many handymen out there who make nowhere near that much – and as much as I try to teach them how, many still haven’t found me yet. But I assure you it is totally doable. The key to making $95 per hour isn’t just charging $95 per hour. You’d probably get some resistance from customers with this rate depending on where you live and the type of services you are offering. Instead, you’ll want to charge a flat rate for as many services as possible. Or, use my favorite pricing strategy, which I share in detail in my <a href="https://www.handymanstartup.com/landing/100k-handyman-pricing/" rel="nofollow" target="_blank">pricing course</a>. Here are a couple of examples of common jobs where you can make $100 or more per hour. #1 – TV wall Mount – You can easily charge $100+ to <a href="https://www.handymanstartup.com/profitable-service-example-how-to-make-money-wall-mounting-tvs/" rel="nofollow" target="_blank">mount a TV</a>, and it usually takes 45 minutes to an hour. #2 – Fence Repair – Bu using the method I demonstrate in <a href="https://www.diywithdan.com/wood-fence-post-repair-ez-mender/" rel="nofollow" target="_blank">this video</a>, I have made up to $200 per hour. #3 – Door Repairs – Several small door repair jobs are easy to quote and can easily help you hit the $100 per hour mark. For more examples, download this free report: Honestly, $95 per hour really isn’t unusual once you get a handle on your pricing and marketing. And the best way to increase your rates even further is to <a href="https://www.handymanstartup.com/7-reasons-to-specialize-with-your-handyman-business/" rel="nofollow" target="_blank">specialize, as I talk about in this post</a>. That allows you to become more efficient and able to provide more value to your customers in less time. <h2>What Would a 5-Hr Work Week Actually Look Like?</h2> To make $1,000 each month, you’d need to make about $332 per week in income from labor. That could be accomplished with just one fence repair on the weekend. Or by doing two or three TV wall mount installs throughout the week after work. Or a simple door repair on a Saturday morning. This would allow you to start your business and still have a life outside work. Huge bonus. <h2>Reality Check</h2> I’m not here to sugarcoat things or make them look easier than they are. So here’s a reality check. First, to reach this point, you’ll need to invest some time and effort in setting up your business. While there may be some people who will fill their 5 hours per week by simply throwing up a few <a href="https://www.handymanstartup.com/craigslist-advertising-tips/" rel="nofollow" target="_blank">craigslist ads</a> or posting to their friends on Facebook, for most people, it won’t happen instantly. Second, to hit the $100 per hour range, you’ll almost certainly have to do some decent <a href="https://www.handymanstartup.com/best-way-to-advertise-handyman-business/" rel="nofollow" target="_blank">marketing</a>. At a minimum, you’ll want to <a href="https://www.handymanstartup.com/how-to-build-a-website/" rel="nofollow" target="_blank">build a website</a> and get some reviews on websites like <a href="https://www.handymanstartup.com/thumbtack-pro-reviews/" rel="nofollow" target="_blank">Thumbtack</a> or Yelp. And third, you’ll want to have a strong enough lead flow (jobs coming in) to where you could be picky about the kind of jobs you take on. Otherwise, you might find yourself driving too far or doing unprofitable jobs like painting – which would reduce your profits substantially and waste your time. I think these are minor inconveniences, but I want to mention them since they will take time and effort to solve. <h2>A Recipe for a Six-Figure Income</h2> The great thing about starting your business part-time is that when you’re ready to go full-time, it’s just a matter of scaling up what you’ve already created. So here’s how the math will likely work out once you go full-time. Hours invested might go from 5 to 40 hours per week, where you’ll provide handyman services for approximately 28 hours per week. <a href="https://www.handymanstartup.com/how-much-does-it-cost-to-start-up-a-handyman-business/" rel="nofollow" target="_blank">Monthly expenses</a> would likely jump from $260 to ~$1700 per month. Here’s the cool part. If you can maintain the same hourly rate of ~$95 per hour, your income will jump from $12,000 per year to $100,000 per year. So by starting with the goal of making $1,000 per month in 5 hours per week, you will essentially create the foundation for a six-figure handyman business. That amount will easily replace the income from most desk jobs. If you’ve been thinking of starting a business for a while now and just haven’t pulled the trigger, hopefully, this article will nudge you in the direction to give it a try. And when you’re ready to start a profitable handyman business, <a href="https://www.handymanstartup.com/landing/start-handyman-business-course/" rel="nofollow" target="_blank">my complete step-by-step course is right here waiting for you</a>. The post <a href="https://www.handymanstartup.com/make-1000-dollars-in-5-hours-per-week-with-part-time-handyman-business/" rel="nofollow" target="_blank">Make $1,000 Per Month in 5 Hours Per Week with a Part-Time Handyman Business</a> appeared first on <a href="https://www.handymanstartup.com" rel="nofollow" target="_blank">Handyman Startup</a>.

Make $1,000 Per Month in 5 Hours Per Week with a Part-Time Handyman Business

Starting a business while working full-time is totally doable, and it even has some unique advantages that, if leveraged properly, can make building your business enjoyable. I’ve helped hundreds of people start their businesses while working full-time jobs, and in this guide, I’m going to share how you can do the same without over-working yourself. Here’s what I’m going to cover:  Why starting your business while working full-time is advantageous, and how to leverage the benefits of your day job to accelerate your business growth. A step-by-step process for growing your business with limited time. The #1 reason people fail to start a business while working full-time.  Quick Tip If you’d prefer to listen instead of reading, you can listen to the podcast at the bottom of this page.  The Advantages of Starting a Business While Working Full-Time Starting a side hustle may seem daunting because you’re probably busy. You may even think you’re at a disadvantage. But there are some pretty sweet benefits. Personally, I quit my job before starting my first business. While this gave me a lot more time and energy to grow my business, it also made me realize that having a job can be a powerful tool if leveraged. So before I walk you through the process of starting step-by-step, I’ll reveal how to leverage the advantages of your job to accelerate your business growth. Advantage #1 – Cash flow The first advantage is obvious: when you have a job, you have more money! You’re forced to live off of your savings if you quit your job before starting. That means you have a tighter budget and less to invest in your business. But if you continue to collect a paycheck, you can instead use your savings to grow your business. That means you can do things like hire consultants and freelancers to help you get your business off the ground. You can also invest in online courses, mentorship, and other learning experiences to accelerate your success and make starting your business more enjoyable. This can actually help you reach your goals faster than having more time because utilizing these resources can 10x your effectiveness. Four hours of informed and guided work can easily exceed 40 hours of guesswork. I remember I had to bootstrap the whole process while starting my handyman business. Because of this, progress was slow, and I spent a lot of time learning things that I could have hired freelancers to do. So when time is short, and cash is plentiful, use that money to accelerate your business growth. This can also make the process a lot more fun. Advantage #2 – Low risk There is minimal risk involved when starting a side business. Even if you spend $10K and things don’t work out, that’s a relatively small loss. Compare that to quitting your job; you could easily blow through $10K in a couple of months on living expenses alone. If you choose a proven business model like a home repair business or another type of service business, the risk of failure is even lower. This limited risk relieves a lot of stress and pressure, allowing you to have a more zen approach to business and life. Lower stress can boost your creativity and help you grow your business more effectively. The key to keeping stress low is to be OK with slower progress. Since you have a job, you will have less time to work on your business, and it will take longer to build. Accept that fact so you don’t burn yourself out by pushing beyond your limits. Advantage #3 – Time is on your side By keeping that full-time job, you’re also relieved of the time pressure. There’s no need to stress and worry about turning a profit immediately. Because of this, you can think long-term. Instead of taking on customers or projects you don’t like because you need the money, you can afford to turn some jobs down and patiently build your business while only working for clients you enjoy. You can also focus your time on building systems and marketing that form a foundation for a profitable and enjoyable business. Of course, you can do this whether you have a job or not, but it’s far more difficult to invest in activities that will make next year more profitable when you are struggling to pay the bills today. So as you can see, there are some great advantages to starting a side hustle, and as long as you leverage these advantages, you can grow your business faster, easier, and with less stress than you can without your full-time job.  How to Start a Business While Working Full-time (Step-by-Step) Step 1 – Conserve your energy. Starting a business will take energy (and lots of it), so managing this limited resource is important. Don’t assume you can pack more activities on your plate without consequences. That’s how people burn out. Since much of your energy is being taken by your current job, you’ll want to scale back your efforts. Give up the competitive-overachiever attitude and just do your job. Stop trying to impress your boss. Stop worrying about office politics. You’re not going for a promotion. You aren’t trying to get a raise. You’re trying to build a business.  Now, I’m not saying to stop doing your job altogether. There’s no integrity in that. I’m just saying there’s no need to stay late or pick up that extra project. There’s no reason to worry about who’s getting promoted or if your boss is impressed with your work. The moment you decide to start a business, you change the definition of success. So just do your job, smile, and watch the stress lift away. Not only will this help you conserve energy for working on your new business, but it can also make your job more tolerable. Step 2 – Carve out time in your schedule (and protect it). The most obvious challenge to growing your business is that you will have less time. You’ll just have to make the time you have count. And one powerful method that can help here is to block out uninterrupted time in your schedule to focus on your next step. Ideally, you’ll want to block out at least one hour of uninterrupted time a couple of times per week. More is better, but even working two hours per week adds up surprisingly fast when done consistently. It’s absolutely critical that you schedule this time every week and stick to it. Nothing will kill a dream faster than losing momentum, and momentum is easy to lose. If you need more help with staying consistent, read this article for more tips on getting yourself to take consistent action. Step 3 – Choose a proven business model. Starting an innovative and disruptive new company while working part-time is unrealistic. Sure, some people have pulled it off, but they are rare exceptions. That’s like trying to be a star basketball player in the NBA while practicing less than everyone else. Unless you have a crazy amount of talent, it’ll never happen. The best way to reliably build a successful business is to find something that’s already working and then duplicate that. Your best bet is a non-sexy service-based business, as I discuss here. Even if you had all the time in the world, I still recommend starting a proven business because the odds of success are astronomically higher. However, this is even more critical when you have limited time. Step 4 – Find a mentor. If you want the highest chances of success, utilize the advice of those who have come before you. They’ve already solved the problems you’re working on. Since they’ve already been where you are, they know the answers to questions you don’t even yet have. They can see a path in front of you that is unknowable to you. Failing to utilize mentors’ experience, knowledge, and training is a waste of the most powerful resource you have available. Remember, one of the advantages of starting a business while working full-time is that you have cash flow. Leverage that advantage by investing in mentorship and training. Investing your time and money to learn from others will dramatically accelerate your startup timeline and help you make more money. Step 5 – Turn down customers until you’ve built a solid foundation. Let’s say you take my advice and start a proven service-based business such as a home repair business. One thing many are tempted to do is try to find work right away. They want to skip all of the boring stuff like forming an LLC, building a website, or setting up scheduling, quoting, and invoicing systems so they can get straight to making money. However, when you have such limited time, this is a huge mistake. You don’t have time to provide services and build your business. You need to be more strategic. So instead, take it one step at a time. Set up your online marketing and the systems you need to run an efficient business before accepting side jobs. Turn down most customers until you’re ready to switch on the faucet. Once your systems are in place, then focus on making money. Turning down customers won’t hurt your reputation, either. Customers won’t give you bad reviews. In fact, the only downside is the money you miss out on in the short term, which will come back to you tenfold if you invest your time wisely. Step 6 – Stay in Test Mode. Since you still have the income from your day job, now is the time to test risky ideas – especially when it comes to pricing. If you overbid a job and don’t get it, it’s no big deal. If you try and promote a service that doesn’t resonate with customers, try something else. There is no rush or pressure. Stay in the mindset that you are trying to replace your income. Only test ideas that support that reality. For example, if your pricing model isn’t going to generate enough money to replace your current income, what’s the point of using it? Test a more profitable one. Instead of putting a cap on your income based on your own assumptions, test! Use this opportunity to learn as much as possible so that when you quit your job, you have the skills, insight, and confidence to really dominate.  Avoiding Mistakes – Why People Fail to Start a Business While Working Full-time The #1 biggest challenge you will face on this journey is the temptation to give up. Starting a business is hard because you’ll inevitably run into roadblocks along the way. You’ll also be forced outside of your comfort zone. You have to put yourself in front of people. And you will be judged by your friends and family. When you don’t have a compelling reason to push through that resistance, it’s easy to give up. The pain of continuing overwhelms the pleasure of pursuing your goal, you lose perspective, and you quit. When I started my handyman business, I wanted to give up several times along the way. I would have given up, too, if I didn’t have a powerful reason to keep going. But, since I had already quit my job, I had to keep trying because I didn’t have a better option. When you have the safety of that full-time income, it’s much harder to keep going when things get tough. The good news is this challenge has a solution. To overcome the temptation to give up, you have several options. You can create self-imposed negative consequences for not following through, develop a visualization practice, or surround yourself with others who are already running a business you want to build. I recommend all three if you can. At a minimum, create an accountability contract. It might seem backward to focus on this, but success is an indirect result of your environment. If your current environment hasn’t led you where you want to go yet, it’s probably not going to. Craft your environment to pull you up instead of holding you down. Your Next Step If you are ready to start your business while working full-time, do this now. Schedule at least one hour within the next two days to work on your business. In that block of time, your goal is to lock down a schedule that you can stick to and identify your next action step. The amount of time you have matters less than how consistently and effectively you work. Don’t focus on everything you need to do; just focus on scheduling time to do something. Knock down one task, then the next, then the next. Before you know it, you’ll have a profitable business you can be proud of. If you’d like to follow a proven, step-by-step system for starting a profitable home repair business, check out Turn Your Skills Into Profit. You’d be surprised how profitable a simple home service business can be. Now, listen to the podcast version of this article, which includes additional content and insights. Listen right here or on your favorite podcast app! HS031 – How to Start a Business While Working Full-Time The post How to Start a Business While Working Full-Time appeared first on Handyman Startup.

Starting a business while working full-time is totally doable, and it even has some unique advantages that, if leveraged properly, can make building your business enjoyable. I’ve helped hundreds of people start their businesses while working full-time jobs, and in this guide, I’m going to share how you can do the same without over-working yourself. Here’s what I’m going to cover: <ul> <li><a href="#advantage" rel="nofollow" target="_blank">Why starting your business while working full-time is advantageous, and how to leverage the benefits of your day job to accelerate your business growth.</a></li> <li><a href="#howto" rel="nofollow" target="_blank">A step-by-step process for growing your business with limited time.</a></li> <li><a href="#mistake" rel="nofollow" target="_blank">The #1 reason people fail to start a business while working full-time.</a></li> </ul> Quick Tip If you’d prefer to listen instead of reading, you can listen to the podcast at the bottom of this page. <a></a> <h2>The Advantages of Starting a Business While Working Full-Time</h2> Starting a side hustle may seem daunting because you’re probably busy. You may even think you’re at a disadvantage. But there are some pretty sweet benefits. Personally, I quit my job before starting my first business. While this gave me a lot more time and energy to grow my business, it also made me realize that having a job can be a powerful tool if leveraged. So before I walk you through the process of starting step-by-step, I’ll reveal how to leverage the advantages of your job to accelerate your business growth. <h3>Advantage #1 – Cash flow</h3> The first advantage is obvious: when you have a job, you have more money! You’re forced to live off of your savings if you quit your job before starting. That means you have a tighter budget and less to invest in your business. But if you continue to collect a paycheck, you can instead use your savings to grow your business. That means you can do things like hire consultants and freelancers to help you get your business off the ground. You can also invest in online courses, mentorship, and other learning experiences to accelerate your success and make starting your business more enjoyable. This can actually help you reach your goals faster than having more time because utilizing these resources can 10x your effectiveness. Four hours of informed and guided work can easily exceed 40 hours of guesswork. I remember I had to bootstrap the whole process while starting my handyman business. Because of this, progress was slow, and I spent a lot of time learning things that I could have hired freelancers to do. So when time is short, and cash is plentiful, use that money to accelerate your business growth. This can also make the process a lot more fun. <h3>Advantage #2 – Low risk</h3> There is <a href="https://www.handymanstartup.com/handyman-business-risk/" rel="nofollow" target="_blank">minimal risk involved</a> when starting a side business. Even if you spend $10K and things don’t work out, that’s a relatively small loss. Compare that to quitting your job; you could easily blow through $10K in a couple of months on living expenses alone. If you choose a <a href="https://www.handymanstartup.com/how-to-start-a-business-that-cant-fail-5-simple-steps-to-freeing-yourself-from-the-9-5/" rel="nofollow" target="_blank">proven business model</a> like a home repair business or another type of service business, the risk of failure is even lower. This limited risk relieves a lot of stress and pressure, allowing you to have a more zen approach to business and life. Lower stress can boost your creativity and help you grow your business more effectively. The key to keeping stress low is to be OK with slower progress. Since you have a job, you will have less time to work on your business, and it will take longer to build. Accept that fact so you don’t burn yourself out by pushing beyond your limits. <h3>Advantage #3 – Time is on your side</h3> By keeping that full-time job, you’re also relieved of the time pressure. There’s no need to stress and worry about turning a profit immediately. Because of this, you can think long-term. Instead of taking on customers or projects you don’t like because you need the money, you can afford to turn some jobs down and patiently build your business while only working for clients you enjoy. You can also focus your time on building systems and marketing that form a foundation for a profitable and enjoyable business. Of course, you can do this whether you have a job or not, but it’s far more difficult to invest in activities that will make next year more profitable when you are struggling to pay the bills today. So as you can see, there are some great advantages to starting a side hustle, and as long as you leverage these advantages, you can grow your business faster, easier, and with less stress than you can without your full-time job. <a></a> <h2>How to Start a Business While Working Full-time (Step-by-Step)</h2> <h3>Step 1 – Conserve your energy.</h3> Starting a business will take energy (and lots of it), so managing this limited resource is important. Don’t assume you can pack more activities on your plate without consequences. That’s how people burn out. Since much of your energy is being taken by your current job, you’ll want to scale back your efforts. Give up the competitive-overachiever attitude and just do your job. Stop trying to impress your boss. Stop worrying about office politics. You’re not going for a promotion. You aren’t trying to get a raise. You’re trying to build a business.  Now, I’m not saying to stop doing your job altogether. There’s no integrity in that. I’m just saying there’s no need to stay late or pick up that extra project. There’s no reason to worry about who’s getting promoted or if your boss is impressed with your work. The moment you decide to start a business, you change the definition of success. So just do your job, smile, and watch the stress lift away. Not only will this help you conserve energy for working on your new business, but it can also make your job more tolerable. <h3>Step 2 – Carve out time in your schedule (and protect it).</h3> The most obvious challenge to growing your business is that you will have less time. You’ll just have to make the time you have count. And one powerful method that can help here is to block out uninterrupted time in your schedule to focus on your next step. Ideally, you’ll want to block out at least one hour of uninterrupted time a couple of times per week. More is better, but even working two hours per week adds up surprisingly fast when done consistently. It’s absolutely critical that you schedule this time every week and stick to it. Nothing will kill a dream faster than losing momentum, and momentum is easy to lose. If you need more help with staying consistent, read this article for more tips on <a href="https://www.handymanstartup.com/6-strategies-for-taking-action-everyone-should-know/" rel="nofollow" target="_blank">getting yourself to take consistent action</a>. <h3>Step 3 – Choose a proven business model.</h3> Starting an innovative and disruptive new company while working part-time is unrealistic. Sure, some people have pulled it off, but they are rare exceptions. That’s like trying to be a star basketball player in the NBA while practicing less than everyone else. Unless you have a crazy amount of talent, it’ll never happen. The best way to reliably build a successful business is to find something that’s already working and then duplicate that. Your best bet is a non-sexy service-based business, as I discuss <a href="https://www.handymanstartup.com/plan-replace-income-quit-job/" rel="nofollow" target="_blank">here</a>. Even if you had all the time in the world, I still recommend starting a proven business because the odds of success are astronomically higher. However, this is even more critical when you have limited time. <h3>Step 4 – Find a mentor.</h3> If you want the highest chances of success, utilize the advice of those who have come before you. They’ve already solved the problems you’re working on. Since they’ve already been where you are, they know the answers to questions you don’t even yet have. They can see a path in front of you that is unknowable to you. Failing to utilize mentors’ experience, knowledge, and training is a waste of the most powerful resource you have available. Remember, one of the advantages of starting a business while working full-time is that you have cash flow. Leverage that advantage by investing in mentorship and training. Investing your time and money to learn from others will dramatically accelerate your startup timeline and help you make more money. <h3>Step 5 – Turn down customers until you’ve built a solid foundation.</h3> Let’s say you take my advice and start a proven service-based business such as a home repair business. One thing many are tempted to do is try to find work right away. They want to skip all of the boring stuff like forming an LLC, building a website, or setting up scheduling, quoting, and invoicing systems so they can get straight to making money. However, when you have such limited time, this is a huge mistake. You don’t have time to provide services and build your business. You need to be more strategic. So instead, take it one step at a time. Set up your online marketing and the systems you need to run an efficient business before accepting side jobs. Turn down most customers until you’re ready to switch on the faucet. Once your systems are in place, then focus on making money. Turning down customers won’t hurt your reputation, either. Customers won’t give you bad reviews. In fact, the only downside is the money you miss out on in the short term, which will come back to you tenfold if you invest your time wisely. <h3>Step 6 – Stay in Test Mode.</h3> Since you still have the income from your day job, now is the time to test risky ideas – especially when it comes to pricing. If you overbid a job and don’t get it, it’s no big deal. If you try and promote a service that doesn’t resonate with customers, try something else. There is no rush or pressure. Stay in the mindset that you are trying to replace your income. Only test ideas that support that reality. For example, if your <a href="https://www.handymanstartup.com/landing/100k-handyman-pricing/" rel="nofollow" target="_blank">pricing model</a> isn’t going to generate enough money to replace your current income, what’s the point of using it? Test a more profitable one. Instead of putting a cap on your income based on your own assumptions, test! Use this opportunity to learn as much as possible so that when you quit your job, you have the skills, insight, and confidence to really dominate. <a></a> <h2>Avoiding Mistakes – Why People Fail to Start a Business While Working Full-time</h2> The #1 biggest challenge you will face on this journey is the temptation to give up. Starting a business is hard because you’ll inevitably run into roadblocks along the way. You’ll also be forced outside of your comfort zone. You have to put yourself in front of people. And you will be judged by your friends and family. When you don’t have a compelling reason to push through that resistance, it’s easy to give up. The pain of continuing overwhelms the pleasure of pursuing your goal, you lose perspective, and you quit. When I started my handyman business, I wanted to give up several times along the way. I would have given up, too, if I didn’t have a powerful reason to keep going. But, since I had already quit my job, I had to keep trying because I didn’t have a better option. When you have the safety of that full-time income, it’s much harder to keep going when things get tough. The good news is this challenge has a solution. To overcome the temptation to give up, you have several options. You can create self-imposed negative consequences for not following through, develop a visualization practice, or surround yourself with others who are already running a business you want to build. I recommend all three if you can. At a minimum, create an <a href="https://www.mindbydesign.io/personal-accountability-contract/" rel="noopener nofollow" target="_blank">accountability contract</a>. It might seem backward to focus on this, but success is an indirect result of your environment. If your current environment hasn’t led you where you want to go yet, it’s probably not going to. Craft your environment to pull you up instead of holding you down. <h2>Your Next Step</h2> If you are ready to start your business while working full-time, do this now. Schedule at least one hour within the next two days to work on your business. In that block of time, your goal is to lock down a schedule that you can stick to and identify your next action step. The amount of time you have matters less than how consistently and effectively you work. Don’t focus on everything you need to do; just focus on scheduling time to do something. Knock down one task, then the next, then the next. Before you know it, you’ll have a profitable business you can be proud of. If you’d like to follow a proven, step-by-step system for starting a profitable home repair business, check out <a href="https://www.handymanstartup.com/landing/start-handyman-business-course/" rel="nofollow" target="_blank">Turn Your Skills Into Profit</a>. You’d be surprised how profitable a simple home service business can be. Now, listen to the podcast version of this article, which includes additional content and insights. Listen right here or on your favorite podcast app! HS031 – How to Start a Business While Working Full-Time The post <a href="https://www.handymanstartup.com/how-to-start-and-grow-a-business-while-working-a-full-time-job/" rel="nofollow" target="_blank">How to Start a Business While Working Full-Time</a> appeared first on <a href="https://www.handymanstartup.com" rel="nofollow" target="_blank">Handyman Startup</a>.

How to Start a Business While Working Full-Time

Unfortunately, we handymen can’t just go out, buy a few tools, and start building houses. That’s illegal without a contractor’s license, and for a good reason. Without these laws in place, the quality of our homes would be seriously compromised. People with no business in construction would be scamming and endangering homeowners (more than they already do). Despite my issues with the contractor’s board, I understand that law enforcers are a necessary evil. However, many home services can still be offered without a contractor’s license.  In fact, I’ve run a very profitable handyman business without one. For me, getting licensed in a trade just doesn’t make sense, at least not yet. But the real question is should you get a contractor’s license? Many of my readers have asked me this same question, and the answers I give might surprise you. Read on to learn what you should consider before studying and applying for a contractor’s license. Disclaimer:  Construction law varies significantly in every country and state. Make sure to check your local regulations to help you make and informed decision. Benefits of getting a contractors license Obtaining a contractor’s license can make your business more profitable by offering a few benefits. #1 – A boost in credibility – Credibility can help to build trust with your customers. It’s important to note that there are other, arguably easier, ways to gain credibility, but any way you can position yourself as a pro rather than cheap labor is beneficial. However, I wouldn’t expect that getting a contractor’s license will bring you a significant amount of new business. You still need to do some good marketing. #2 – Ability to tackle larger projects – Having a license allows you to tackle larger and potentially more profitable jobs. Assuming you bid jobs appropriately, can sell your services, and then work efficiently, large projects such as kitchen and bath remodels can be more profitable than small repairs for several reasons. #3 – Ability to tackle certain higher-paying projects – Speciality services like plumbing, electrical, HVAC, mold remediation, and many other projects can only be provided by contractors. That means there are usually fewer qualified people able to do these services, which allows you to demand a higher rate. As an unlicensed handyman, you are offering services that anyone can do, so in many cases, there is more competition. #4 – Ability to hire subcontractors – Let’s say you were overly busy and needed to hire some help but didn’t want to bring on a permanent employee. You may consider subbing out jobs to other pros. That means you still get a chunk of the profits from each job you sell, but you don’t have to perform the labor. Having a contractor’s license allows you to do this legally. You can also hire subcontractors to help you complete parts of a project you are hired for. While these benefits make getting a license seem like a no-brainer, here are some other things to consider before deciding. How much contracting experience do you have? If you are like me when I first started, meaning you have no experience bidding jobs, then a contractor’s license is probably the wrong choice. For example, if you have never quoted a job, what are the chances that you are going to quote it accurately? Close to zero. And you’ll probably quote too low, which means you’ll lose money. Trust me on this one. I’ve bid too low on way too many jobs. In fact, I lost over 50 grand in my first year to underbidding small jobs. If I had to learn my lesson on $10,000 jobs, I’d be out of business begging for food on the streets. Regardless of how skilled at home repairs and improvements you may be, there are several business skills you must develop before quoting big jobs. And these business skills are arguably more important than your handy skills when it comes to making money.  What services do you plan on providing? Before getting a license, make sure you will still be able to offer all of the services you are planning to offer. In many states, like Nevada, where I live, getting a contractor’s license can limit the services you can legally provide. For example, without a license, I can do just about anything as long as it’s under $1,000 and doesn’t include plumbing, electrical, or HVAC. This leaves a lot open. If I was to get a contractor’s license, I would technically be limited to only performing jobs within that license. Meaning if I got a carpenters license, I would no longer be able to legally offer painting, tile, drywall repair, and several other services that I occasionally provide for my customers unless I also go licensed as a general contractor or for each trade. Even a general contractor’s license would limit my services because be limited to projects that require at least three trades. Since I like smaller jobs and quick repairs while doing a wide range of trades, a contractor’s license doesn’t make sense for my business model. Are you sure you want to provide those services? People often get licensed in a trade for the wrong reasons. Maybe because that is the trade they know how to do, or that is the trade they think they can make the most money. I recommend against this. I’m a strong believer that you should enjoy what you do. Without a lot of experience, it’s hard to even know the types of projects you enjoy. I didn’t know what types of jobs I liked doing until I had a couple of years of experience. I’ve talked to many contractors that don’t like what they are doing. I even received an e-mail from a plumber saying that he hated plumbing! Too bad he put all that effort into getting a license. So before getting a contractor’s license, you should be sure you like offering services related to that specific trade. Even though you may enjoy plumbing in your own home, this doesn’t mean you’ll like fixing other people’s toilets! Here’s what I recommend Before running out and getting a license immediately, get some experience offering several services first. Starting as a handyman is a great way to expose yourself to various projects while learning key business skills. Not only will acquiring experience help you to choose a path you enjoy, but it will also help you uncover profitable services that you didn’t even think of. Your handyman business experience will also teach you the business skills you need before risking your ass on huge jobs. After a while, you’ll know what you enjoy, what is profitable, how to get customers, and how to run a business. At that point, you can graduate to the next level and go big with a contractor’s license. Regardless of what you decide, make sure you understand your state laws by visiting your local contractor’s board website. Now, listen to the podcast version of this article, which includes extra content. Listen right here or on your favorite podcast app! HS030 – Should you get a contractor’s license? What do you think?  Is a contractor’s license right for you? The post Should You Get a Contractors License? appeared first on Handyman Startup.

Unfortunately, we handymen can’t just go out, buy a few tools, and start building houses. That’s illegal without a contractor’s license, and for a good reason. Without these laws in place, the quality of our homes would be seriously compromised. People with no business in construction would be scamming and endangering homeowners (more than they already do). Despite <a href="https://www.handymanstartup.com/handyman-licenses-and-laws/" rel="nofollow" target="_blank">my issues with the contractor’s board</a>, I understand that law enforcers are a necessary evil. However, many home services can still be offered without a contractor’s license. In fact, I’ve run a very profitable handyman business without one. For me, getting licensed in a trade just doesn’t make sense, at least not yet. But the real question is should you get a contractor’s license? Many of my readers have asked me this same question, and the answers I give might surprise you. Read on to learn what you should consider before studying and applying for a contractor’s license. <blockquote>Disclaimer:  Construction law varies significantly in every country and state. Make sure to check your local regulations to help you make and informed decision.</blockquote> <h2>Benefits of getting a contractors license</h2> Obtaining a contractor’s license can make your business more profitable by offering a few benefits. #1 – A boost in credibility – <a href="https://www.handymanstartup.com/building-profits-through-customers-trust/" rel="nofollow" target="_blank">Credibility can help to build trust</a> with your customers. It’s important to note that there are other, arguably easier, ways to gain credibility, but any way you can position yourself as a pro rather than cheap labor is beneficial. However, I wouldn’t expect that getting a contractor’s license will bring you a significant amount of new business. You still need to do some good <a href="https://www.handymanstartup.com/good-marketing-makes-everything-easier/" rel="nofollow" target="_blank">marketing</a>. #2 – Ability to tackle larger projects – Having a license allows you to tackle larger and potentially more profitable jobs. Assuming you <a href="https://www.handymanstartup.com/handyman-estimate/" rel="nofollow" target="_blank">bid jobs appropriately</a>, can sell your services, and then work efficiently, large projects such as kitchen and bath remodels can be more profitable than small repairs for several reasons. #3 – Ability to tackle certain higher-paying projects – Speciality services like plumbing, electrical, HVAC, mold remediation, and many other projects can only be provided by contractors. That means there are usually fewer qualified people able to do these services, which allows you to demand a higher rate. As an unlicensed handyman, you are offering services that anyone can do, so in many cases, there is more competition. #4 – Ability to hire subcontractors – Let’s say you were overly busy and needed to hire some help but didn’t want to bring on a permanent employee. You may consider subbing out jobs to other pros. That means you still get a chunk of the profits from each job you sell, but you don’t have to perform the labor. Having a contractor’s license allows you to do this legally. You can also hire subcontractors to help you complete parts of a project you are hired for. While these benefits make getting a license seem like a no-brainer, here are some other things to consider before deciding. <h2>How much contracting experience do you have?</h2> If you are like me when I first started, meaning you have no experience bidding jobs, then a contractor’s license is probably the wrong choice. For example, if you have never quoted a job, what are the chances that you are going to quote it accurately? Close to zero. And you’ll probably quote too low, which means you’ll lose money. Trust me on this one. I’ve bid too low on way too many jobs. In fact, <a href="https://www.handymanstartup.com/how-i-lost-52743-in-my-first-year-as-a-handyman/" rel="nofollow" target="_blank">I lost over 50 grand</a> in my first year to underbidding small jobs. If I had to learn my lesson on $10,000 jobs, I’d be out of business begging for food on the streets. Regardless of how skilled at home repairs and improvements you may be, there are several business skills you must develop before quoting big jobs. And these business skills are arguably more important than your handy skills when it comes to making money. <h2>What services do you plan on providing?</h2> Before getting a license, make sure you will still be able to offer all of the services you are planning to offer. In many states, like Nevada, where I live, getting a contractor’s license can limit the services you can legally provide. For example, without a license, I can do just about anything as long as it’s under $1,000 and doesn’t include plumbing, electrical, or HVAC. This leaves a lot open. If I was to get a contractor’s license, I would technically be limited to only performing jobs within that license. Meaning if I got a carpenters license, I would no longer be able to legally offer painting, tile, drywall repair, and several other services that I occasionally provide for my customers unless I also go licensed as a general contractor or for each trade. Even a general contractor’s license would limit my services because be limited to projects that require at least three trades. Since I like smaller jobs and quick repairs while doing a wide range of trades, a contractor’s license doesn’t make sense for my business model. <h2>Are you sure you want to provide those services?</h2> People often get licensed in a trade for the wrong reasons. Maybe because that is the trade they know how to do, or that is the trade they think they can make the most money. I recommend against this. I’m a strong believer that you should enjoy what you do. Without a lot of experience, it’s hard to even know the types of projects you enjoy. I didn’t know what types of jobs I liked doing until I had a couple of years of experience. I’ve talked to many contractors that don’t like what they are doing. I even received an e-mail from a plumber saying that he hated plumbing! Too bad he put all that effort into getting a license. So before getting a contractor’s license, you should be sure you like offering services related to that specific trade. Even though you may enjoy plumbing in your own home, this doesn’t mean you’ll like fixing other people’s toilets! <h2>Here’s what I recommend</h2> Before running out and getting a license immediately, get some experience offering several services first. Starting as a handyman is a great way to expose yourself to various projects while learning key business skills. Not only will acquiring experience help you to choose a path you enjoy, but it will also help you uncover profitable services that you didn’t even think of. Your handyman business experience will also teach you the business skills you need before risking your ass on huge jobs. After a while, you’ll know what you enjoy, what is profitable, how to get customers, and how to run a business. At that point, you can graduate to the next level and go big with a contractor’s license. Regardless of what you decide, make sure you understand your <a href="https://www.handymanstartup.com/handyman-licenses-and-laws/" rel="nofollow" target="_blank">state laws</a> by visiting your local contractor’s board website. Now, listen to the podcast version of this article, which includes extra content. Listen right here or on your favorite podcast app! HS030 – Should you get a contractor’s license? What do you think?  Is a contractor’s license right for you? The post <a href="https://www.handymanstartup.com/should-you-get-a-contractors-license/" rel="nofollow" target="_blank">Should You Get a Contractors License?</a> appeared first on <a href="https://www.handymanstartup.com" rel="nofollow" target="_blank">Handyman Startup</a>.

Should You Get a Contractors License?

When starting a small business like a handyman service, HVAC business, or other local service business, one of the first things you must do is choose between a Sole Proprietorship or an LLC for your legal business structure (aka business entity). This is an important decision because it affects how much you pay in taxes, your personal liability, and how much boring paperwork you have to deal with. Unfortunately, it can be a tough decision because most articles out there give you vague advice and speak far too generally. So in this article, I’m going to keep things specific to home-based service business, so I can make this decision easy for you. What’s the best business entity for a small service business? There are several types of business entities you can choose as your legal business structure, including Sole Proprietorship, Partnership, C Corporation, or LLC. However, only two of these make sense for 99% of local service businesses: LLC or Sole Proprietorship. Let’s talk about the differences and benefits of each.I am not an attorney or accountant, and this is not legal advice. This article is for informational purposes only. Please consult with a qualified professional when making important business decisions.Sole Proprietorship vs. LLC: A quick comparison Sole Proprietorships are great if you’re running a side business and have no employees and just want to keep things simple. They are free to set up, require no paperwork, and are simple to manage. LLCs are slightly more complicated and expensive to set up but have some advantages as your business becomes established. Generally speaking, the benefits of an LLC are that it provides more legal protection for your personal assets and potential tax savings. The downside is that an LLC is slightly more expensive and complicated to set up and maintain. What is a Sole Proprietorship? This is the most common business structure. In fact, Sole Proprietorships make up 87% of non-employer small businesses (source). Sole Proprietorships are easy to set up and provide you with complete control over your business. Many handymen, consultants, freelancers, and other small businesses choose this structure for its simplicity. Owners of a sole proprietorship are responsible for taxes on the net business income, which is taxed at individual rates on their personal tax returns. This is referred to as pass-through taxation because all of the business income simply passes onto the owner’s tax return and is added to other income the owner may have. Owners are responsible for paying self-employment taxes (social security and medicare) as with all business entities. In a sole proprietorship, the owner is generally liable for all debts and financial obligations of the business. This essentially means that your business is looked at as an extension of your person by the IRS and the law. If the business is in debt, the owner is in debt. If the business gets sued, the owner is essentially getting sued. Unlike a corporation, a sole proprietorship is NOT a separate entity. If you have employees working for you, then you are liable for any mistakes they make, so businesses with employees typically choose a different structure. Here’s a quick breakdown of the pros and cons of a Sole Proprietorship. Advantages  It’s easy to set up. There is no state registration required unless you plan on using a fictitious name (any name other than your own). You do this by filing a DBA. If you work from home and use your own name for the business, you may have no startup costs at all. Much less paperwork and record keeping when compared to a corporation. Tax preparation is very straightforward and less costly when outsourced.  Disadvantages  Since a sole proprietorship is not a separate entity, the owner is responsible for all debts and financial obligations incurred by the business. The structure provides no legal protection for the owner’s assets. You can’t take advantage of tax-saving strategies that are available for an LLC or Corporation (more about this later).  How to Setup Up a Sole Proprietorship A Sole Proprietorship is by far the easiest business entity to set up because it requires you to do nothing with the state. All you have to do is NOT form your business as an LLC or Corporation, and you will automatically be considered a Sole Proprietor. You will, however, need to obtain any local licenses or permits that are required to operate in your city. And, if you want to name your business anything other than your name, you’ll need to file a DBA with the state. What is an LLC (Limited Liability Company)? LLCs are also very popular as they provide business owners with many of the benefits of a corporation without most of the downsides. Like a corporation, an LLC can provide a financial and legal barrier for the personal assets of its members. A business owner who files under an LLC has basic liability protection from having his or her personal assets seized for debts or obligations of the business. This is especially valuable if you have employees and do not want to be held liable for their mistakes. In addition to providing protection to personal assets, an LLC also works the other way around. It prevents the business’s assets from being seized from personal creditors trying to settle a personal debt. A creditor can only go after the portion of the profits that the partner who was indebted has allocated to him or her. Put simply; an LLC protects you from your business’s and partner’s debts and financial obligations. That’s a very good thing if you have a business partner or take on a lot of debt with your business. By default, an LLC is taxed just like a Sole Proprietorship. The earnings pass through to the individual members (owners). The members are then responsible for income tax and self-employment taxes. This is known as a pass-through entity. However, members of an LLC can elect to be taxed as an S corp, saving big time on self-employment taxes. Advantages of an LLC  Member’s personal assets are protected from business debts and financial obligations. Not subject to corporate tax or double taxation. Taxes function similarly to a sole proprietorship. Limited paperwork and record-keeping when compared to a corporation. Fairly simple to set up. Has the ability to elect S Corp status, which can save a lot on Self-Employment taxes (see below). Boost in credibility to potential customers.  LLC Disadvantages  More expensive to maintain than a sole proprietorship or partnership (usually a few hundred dollars per year). It takes slightly more work to set up than a sole proprietorship.  Additional Considerations for an LLC To gain the legal and financial protection that forming an LLC has to offer, there are certain things you must do. The most important is to keep everything in your business separate from your personal assets. That means having separate bank accounts and credit cards and having all invoices and receipts have your LLC name on them. Make sure customers write out checks to the business and not you personally. Also, there are very few legal protection benefits for a single-member LLC with no employees. That’s because if you make a mistake due to negligence, a customer can still sue you personally vs. the business. Often times the courts will “pierce the corporate veil” and consider you and the business as the same entity. The primary benefit of an LLC is that you can build up credit in your business’s name and take out loans based on that credit. In the event that your business failed for some reason, then creditors would most likely not be able to go after your personal assets to settle that debt. This is why obtaining the proper insurance for your service business is essential. And finally, in many states, in order to be considered a separate entity from your business, you must have a partner with at least a 2% share of the business. Here’s a good article that explains this clearly. How to Save Big on Self-Employment Taxes with an LLC Despite having few legal benefits for a one-person handyman business, LLCs do have one huge benefit, which is that you can elect to be taxed as an S Corp. You may have heard of the S corp and how it can save you a lot of money in taxes. And it’s true. When I elected S Corp status for my business, I saved over ten thousand dollars each year in taxes. This is why I recommend filing as an LLC to most full-time handymen, consultants, and freelancers. You cannot have a Sole proprietorship elect S Corp status. The best part is that the more money you make, the more you save. Here’s an article that will give you an idea of how much money you can save with an S corp. Which business structure is right for you? There isn’t any single business structure that fits all handyman businesses. I recommend speaking with an accountant and potentially an attorney before making your decision. Every state has slightly different laws pertaining to business structures. That being said, I typically recommend an LLC to most self-employed handymen, consultants, and freelancers who want to generate a full-time income or eventually hire employees. A Sole Proprietorship is great if you operate part-time and never plan to hire employees or build your business into a full-time income. I structured my handyman business as an LLC, and it was the right choice for me. This allowed me to later be taxed as an S corp and gave my business a boost in credibility. It wasn’t difficult to set up, either. I simply went to the secretary of state’s website and filled out some online forms. Four hundred dollars in fees later, and I was the proud owner of an LLC. If you need help applying for an LLC, then here is a place that can help you sort through the confusing documents. There is a fee involved, but it will save you some time. Can you Convert a Sole Proprietorship to an LLC? Yes, but it may lead to some headaches with any local business licenses that you’ve already attained. Converting your Sole Prop to an LLC with the state is easy. Just file your articles of incorporation and list of members, just like when setting up an LLC (see link above). However, the problem comes with your city business license or permits. Those are most likely registered in your name and not your LLCs. So, you’ll likely have to jump through some hoops and pay some fees in order to change those licenses. Quick Recap  There are two main business structures a local service business should consider: Sole Proprietorship and LLC. A Sole Proprietorship is great for a part-time business with no employees or plans of growing. An LLC is the best business structure for most self-employed handyman businesses (and most self-employed people in general) because of the potential tax savings. Once you set up your LLC and start generating a full-time income, you can elect S Corp status to save a significant amount of money on self-employment taxes.   Now, listen to the podcast version of this article, which includes extra content. Listen right here or on your favorite podcast app! HS029 – Sole Proprietorship vs. LLC – What’s the best entity for a service business? If you found this article helpful and want to learn more about how to build a profitable handyman business, join over 10,000 people and sign up for my e-mail newsletter. You’ll get insider information, tips, and strategies that I don’t share anywhere on this blog. Sign up below, and you’ll also get a FREE ebook. The post Sole Proprietorship vs LLC – The Best Entity for Service-Based Businesses appeared first on Handyman Startup.

When starting a small business like a handyman service, HVAC business, or other local service business, one of the first things you must do is choose between a Sole Proprietorship or an LLC for your legal business structure (aka business entity). This is an important decision because it affects how much you pay in taxes, your personal liability, and how much boring paperwork you have to deal with. Unfortunately, it can be a tough decision because most articles out there give you vague advice and speak far too generally. So in this article, I’m going to keep things specific to home-based service business, so I can make this decision easy for you. <h2>What’s the best business entity for a small service business?</h2> There are several types of business entities you can choose as your legal business structure, including Sole Proprietorship, Partnership, C Corporation, or LLC. However, only two of these make sense for 99% of local service businesses: LLC or Sole Proprietorship. Let’s talk about the differences and benefits of each.I am not an attorney or accountant, and this is not legal advice. This article is for informational purposes only. Please consult with a qualified professional when making important business decisions. <h2>Sole Proprietorship vs. LLC: A quick comparison</h2> Sole Proprietorships are great if you’re running a side business and have no employees and just want to keep things simple. They are free to set up, require no paperwork, and are simple to manage. LLCs are slightly more complicated and expensive to set up but have some advantages as your business becomes established. Generally speaking, the benefits of an LLC are that it provides more legal protection for your personal assets and potential tax savings. The downside is that an LLC is slightly more expensive and complicated to set up and maintain. <h2>What is a Sole Proprietorship?</h2> This is the most common business structure. In fact, Sole Proprietorships make up 87% of non-employer small businesses (<a href="https://cdn.advocacy.sba.gov/wp-content/uploads/2020/11/05122043/Small-Business-FAQ-2020.pdf" rel="noopener nofollow" target="_blank">source</a>). Sole Proprietorships are easy to set up and provide you with complete control over your business. Many handymen, consultants, freelancers, and other small businesses choose this structure for its simplicity. Owners of a sole proprietorship are responsible for taxes on the net business income, which is taxed at individual rates on their personal tax returns. This is referred to as pass-through taxation because all of the business income simply passes onto the owner’s tax return and is added to other income the owner may have. Owners are responsible for paying self-employment taxes (social security and medicare) as with all business entities. In a sole proprietorship, the owner is generally liable for all debts and financial obligations of the business. This essentially means that your business is looked at as an extension of your person by the IRS and the law. If the business is in debt, the owner is in debt. If the business gets sued, the owner is essentially getting sued. Unlike a corporation, a sole proprietorship is NOT a separate entity. If you have employees working for you, then you are liable for any mistakes they make, so businesses with employees typically choose a different structure. Here’s a quick breakdown of the pros and cons of a Sole Proprietorship. <h4>Advantages</h4> <ul> <li>It’s easy to set up. There is no state registration required unless you plan on using a fictitious name (any name other than your own). You do this by filing a DBA.</li> <li>If you work from home and use your own name for the business, you may have no startup costs at all.</li> <li>Much less paperwork and record keeping when compared to a corporation.</li> <li>Tax preparation is very straightforward and less costly when outsourced.</li> </ul> <h4>Disadvantages</h4> <ul> <li>Since a sole proprietorship is not a separate entity, the owner is responsible for all debts and financial obligations incurred by the business. The structure provides no legal protection for the owner’s assets.</li> <li>You can’t take advantage of tax-saving strategies that are available for an LLC or Corporation (more about this later).</li> </ul> <h3>How to Setup Up a Sole Proprietorship</h3> A Sole Proprietorship is by far the easiest business entity to set up because it requires you to do nothing with the state. All you have to do is NOT form your business as an LLC or Corporation, and you will automatically be considered a Sole Proprietor. You will, however, need to obtain any <a href="https://www.handymanstartup.com/license-your-business/" rel="nofollow" target="_blank">local licenses</a> or permits that are required to operate in your city. And, if you want to name your business anything other than your name, you’ll need to file a DBA with the state. <h2>What is an LLC (Limited Liability Company)?</h2> LLCs are also very popular as they provide business owners with many of the benefits of a corporation without most of the downsides. Like a corporation, an LLC can provide a financial and legal barrier for the personal assets of its members. A business owner who files under an LLC has basic liability protection from having his or her personal assets seized for debts or obligations of the business. This is especially valuable if you have employees and do not want to be held liable for their mistakes. In addition to providing protection to personal assets, an LLC also works the other way around. It prevents the business’s assets from being seized from personal creditors trying to settle a personal debt. A creditor can only go after the portion of the profits that the partner who was indebted has allocated to him or her. Put simply; an LLC protects you from your business’s and partner’s debts and financial obligations. That’s a very good thing if you have a business partner or take on a lot of debt with your business. By default, an LLC is taxed just like a Sole Proprietorship. The earnings pass through to the individual members (owners). The members are then responsible for income tax and self-employment taxes. This is known as a pass-through entity. However, members of an LLC can elect to be taxed as an S corp, saving big time on self-employment taxes. <h4>Advantages of an LLC</h4> <ul> <li>Member’s personal assets are protected from business debts and financial obligations.</li> <li>Not subject to corporate tax or double taxation. Taxes function similarly to a sole proprietorship.</li> <li>Limited paperwork and record-keeping when compared to a corporation.</li> <li>Fairly simple to set up.</li> <li>Has the ability to elect S Corp status, which can save a lot on Self-Employment taxes (see below).</li> <li>Boost in credibility to potential customers.</li> </ul> <h4>LLC Disadvantages</h4> <ul> <li>More expensive to maintain than a sole proprietorship or partnership (usually a few hundred dollars per year).</li> <li>It takes slightly more work to set up than a sole proprietorship.</li> </ul> <h2>Additional Considerations for an LLC</h2> To gain the legal and financial protection that forming an LLC has to offer, there are certain things you must do. The most important is to keep everything in your business separate from your personal assets. That means having separate bank accounts and credit cards and having all invoices and receipts have your LLC name on them. Make sure customers write out checks to the business and not you personally. Also, there are very few legal protection benefits for a single-member LLC with no employees. That’s because if you make a mistake due to negligence, a customer can still sue you personally vs. the business. Often times the courts will “pierce the corporate veil” and consider you and the business as the same entity. The primary benefit of an LLC is that you can build up credit in your business’s name and take out loans based on that credit. In the event that your business failed for some reason, then creditors would most likely not be able to go after your personal assets to settle that debt. This is why obtaining the <a href="https://www.handymanstartup.com/handyman-insurance/" rel="nofollow" target="_blank">proper insurance</a> for your service business is essential. And finally, in many states, in order to be considered a separate entity from your business, you must have a partner with at least a 2% share of the business. Here’s a <a href="https://www.myllc.com/single-member-llc.aspx" rel="noopener nofollow" target="_blank">good article</a> that explains this clearly. <h2>How to Save Big on Self-Employment Taxes with an LLC</h2> Despite having few legal benefits for a one-person handyman business, LLCs do have one huge benefit, which is that you can elect to be taxed as an S Corp. You may have heard of the S corp and how it can save you a lot of money in taxes. And it’s true. When I elected S Corp status for my business, I saved over ten thousand dollars each year in taxes. This is why I recommend filing as an LLC to most full-time handymen, consultants, and freelancers. You cannot have a Sole proprietorship elect S Corp status. The best part is that the more money you make, the more you save. Here’s an article that will give you an idea of <a href="https://www.handymanstartup.com/s-corp-tax-savings/" rel="nofollow" target="_blank">how much money you can save with an S corp</a>. <h2>Which business structure is right for you?</h2> There isn’t any single business structure that fits all handyman businesses. I recommend speaking with an accountant and potentially an attorney before making your decision. Every state has slightly different laws pertaining to business structures. That being said, I typically recommend an LLC to most self-employed handymen, consultants, and freelancers who want to generate a full-time income or eventually hire employees. A Sole Proprietorship is great if you operate <a href="https://www.handymanstartup.com/part-time-handyman-business/" rel="nofollow" target="_blank">part-time</a> and never plan to hire employees or build your business into a full-time income. I structured my handyman business as an LLC, and it was the right choice for me. This allowed me to later be taxed as an S corp and gave my business a boost in credibility. It wasn’t difficult to set up, either. I simply went to the secretary of state’s website and filled out some online forms. Four hundred dollars in fees later, and I was the proud owner of an LLC. If you need help applying for an LLC, then <a href="https://www.govdocfiling.com/llc/?ref=danielperry1" rel="sponsored nofollow" target="_blank">here is a place that can help you sort through the confusing documents</a>. There is a fee involved, but it will save you some time. <h2>Can you Convert a Sole Proprietorship to an LLC?</h2> Yes, but it may lead to some headaches with any local business licenses that you’ve already attained. Converting your Sole Prop to an LLC with the state is easy. Just file your articles of incorporation and list of members, just like when setting up an LLC (see link above). However, the problem comes with your city business license or permits. Those are most likely registered in your name and not your LLCs. So, you’ll likely have to jump through some hoops and pay some fees in order to change those licenses. <h2>Quick Recap</h2> <ul> <li>There are two main business structures a local service business should consider: Sole Proprietorship and LLC.</li> <li>A Sole Proprietorship is great for a part-time business with no employees or plans of growing.</li> <li>An LLC is the best business structure for most self-employed handyman businesses (and most self-employed people in general) because of the potential tax savings.</li> <li>Once you set up your LLC and start generating a full-time income, you can elect S Corp status to save a significant amount of money on self-employment taxes.</li> </ul> Now, listen to the podcast version of this article, which includes extra content. Listen right here or on your favorite podcast app! HS029 – Sole Proprietorship vs. LLC – What’s the best entity for a service business? If you found this article helpful and want to learn more about how to build a profitable handyman business, join over 10,000 people and sign up for my e-mail newsletter. You’ll get insider information, tips, and strategies that I don’t share anywhere on this blog. Sign up below, and you’ll also get a FREE ebook. The post <a href="https://www.handymanstartup.com/llc-vs-sole-proprietorship/" rel="nofollow" target="_blank">Sole Proprietorship vs LLC – The Best Entity for Service-Based Businesses</a> appeared first on <a href="https://www.handymanstartup.com" rel="nofollow" target="_blank">Handyman Startup</a>.

Sole Proprietorship vs LLC – The Best Entity for Service-Based Businesses

Learn how to start or grow a handyman business

Ready to start your handyman business and want to know the best way to get started? Like most people in your shoes, you probably have one or more of the following questions: “What’s the first step?” “How much experience do I need?” “What kind of licensing do I need?” “How much money can I actually make?” I’ll answer them all here. But regardless of what questions you have or how much experience is under your belt, starting a handyman business the smart way should always consist of the same steps. And in this article, I will walk you through the first five steps to starting a profitable and enjoyable handyman business. By completing these first steps, you will create a clear business plan that will bring you profit, freedom, and satisfaction. Step #1 – Choose Your Services The first step is to evaluate your current skills and decide on the services you will provide. You may be thinking, “Don’t I need to be able to do everything?” The short answer is no; you don’t. In fact, you can generate large profits by offering a limited range of services. In fact, in some cases, it can be more profitable to specialize. For example, I cannot do any plumbing, electrical, or HVAC work without a license in my state. This limits my services significantly, yet I still have more business than I could possibly handle. Additionally, think about all of the other handyman-like service businesses out there, such as garage door repair companies, lawn care companies, locksmiths, home security installers, masons, and many others. These businesses all focus on a specific service and can be very lucrative. As a handyman, you will have a much broader range of services that will span several trades, but you can certainly get started by offering what you know how to do and grow from there. That’s how I started my handyman business, and I’m still learning new skills every day. So the first thing you need to do is make a list of all of the possible services you can offer right now. To get some ideas, I recommend reading the free report below. In it, I share ten profitable handyman services you can offer without a contractor’s license.  Step #2: Learn the Handyman Laws in Your State One of the best ways to ruin your day is to start a business as a handyman, only to realize later you need a contractor’s license to provide the services you want to provide. Hopefully, you don’t find this out the hard way as I did. Before you get too excited about the services list that you just made, it’s time to do some reading on the contracting laws in your state (every state is different). You need to find out which services you can and can’t offer without a license, or you need to figure out what license you need to provide the service you want to provide. In many cases, you won’t need a special license at all. For example, in my state, I can’t do any electrical, plumbing, or HVAC without a license in those specific trades. Also, I can’t do jobs over $1,000 without a contractor’s license. So basically, I can do anything under $1,000 that isn’t plumbing, electrical, or HVAC without a license. That may sound very limiting, but it’s actually totally fine. There are plenty of jobs that fit within those limits – more than enough to run a profitable home repair business. Although I could do bigger jobs and potentially make more money with a license, not having a license actually works better for my business model since I focus on small repairs anyway. You can get a pretty good idea of the laws in your state by going to your state’s contractors’ board website and reading there. Typically they will have a FAQ section for handymen, which will outline laws related to small repairs and maintenance. To learn more about handyman licenses and laws, read this article. Step #3 – Define Your Ideal Customer Not everyone is your customer. When I first started my handyman business, I didn’t really understand this concept and I worked for anybody I could. I’d lower my prices to get jobs, take on jobs I wasn’t good at, and try to serve everyone who would hire me. Because of this, I ended up getting some bad reviews and selling myself short. Finally, I learned my lesson. Never lower your rates to get customers. Design your business around helping a specific type of customer and focus on helping them. Your services simply aren’t a good fit for everybody who needs a handyman. Some customers just want the lowest prices or can’t afford to pay a professional rate. Other customers don’t mind paying higher rates as long as you provide good service. Some customers live forty miles away, while others are just a short five-minute drive away. Some customers only want the best of the best, and others just want the job done so they can move on with their lives. There is profit to be made with all of these customers, but deciding on the kind of service you want to offer is essential. I can’t stress this enough. Targeting the right customers will have a dramatic impact on both your enjoyment and your profits as a pro handyman. This is true for any business, and it’s especially true for a handyman, plumber, electrician, or contractor because you’ll be dealing with your customers face to face. If you are targeting customers you actually enjoy working for and who are willing to pay decent rates for your services, you’ll be happier, they’ll be happier, you’ll get more referrals and repeat business, and you’ll make more money. If you try to work for everybody, you’re going to struggle financially or emotionally – probably both. By spending some time figuring out who would benefit most from your service and who you actually want to work for, you can avoid this frustration, and your success will be accelerated. Step #4: Set Your Pricing It’s time to figure out how much to charge. But first, let’s answer the bigger question on your mind. How much can you make as a pro handyman? It may surprise you, but it’s not uncommon for pro handymen to generate a six-figure income while providing basic handyman services. Personally, I’ve made up to $200 per hour and typically average just under $100 per hour. The handyman business can be surprisingly profitable IF you set it up properly. And as with any business, having a good grasp on the financial side of things is essential, especially when setting your handyman rates. Deciding how much to charge is one of the most difficult parts of starting a handyman business because of the psychology and limiting beliefs involved. This is where I see the most mistakes with my readers. Not only do you need to consider things like your experience level, work efficiency, ability to sell, reputation, and professionalism, but you also need to understand what you must charge to actually turn a profit. Then, you need to have the balls to charge that much! It’s no easy task when you probably have some self-doubt about your skills and abilities to start with. (Don’t worry, most people do.) But here’s the deal. This problem has already been solved. You don’t have to just pick a number out of thin air or base your rates on what your friends or family think. You don’t have to undercharge, waste time, and leave money on the table while you learn pricing the hard way. Instead, you can follow a proven system for setting your pricing that guarantees you generate a healthy profit. (Nothing against your friends and family, but they probably aren’t your ideal customers, so their opinions don’t matter.) Step #5 – Develop a Marketing Strategy At this point, you should have a good idea of the services you are going to offer, who will buy them, and how much you are going to charge. The next step is to figure out how you will reach your ideal clients and then convince them to hire you. That’s right. It’s time to form a marketing plan. The good news for you is that people are actively searching for your services every single day of the year. Handyman services are in high demand, and the demand is growing. The bad news is that there are many other handymen out there with the same thing in mind. Don’t worry. There’s more good news. Most handymen are terrible marketers, and by putting a little extra effort into your marketing, you can make a killing. The fact that you are reading this website puts you way ahead of the pack. Your goal in this step is to determine which marketing methods will be most effective and have the highest ROI (return on investment). So sit down and study your ideal clients’ behaviors, desires, and frustrations so you can come up with the best methods for promoting your handyman business and gaining those customers. Or, you can simply  download this free handyman marketing report, where I share the most effective method for attracting high-paying customers. Either way, you’ll want to spend some time on marketing because it will have a big impact on your income and enjoyment. Don’t fall for the lie that word of mouth is all you need. That only works if you are either undercharging or have been in business for several years. Now, listen to the podcast version of this article, which includes extra content. Listen right here or on your favorite podcast app! HS028 – The First 5 Steps To Starting a Profitalbe Handyman Business Bonus Q&amp;A Is starting a handyman business a good idea? If you enjoy working with your hands and helping people, the handyman business can be fun, fulfilling, and profitable. It’s a high-demand service, so job security is high. Also, every day is different, and it’s healthy to move your body all day long. For me personally, it has been the most enjoyable career I’ve had so far, and the vast majority of my students who use my programs to get started absolutely love the businesses they create. There aren’t many careers out there where you get to move your body, solve interesting problems, and then have customers happily pay you with money and gratitude after a job well done. However, to be successful, you must be self-motivated. Just like running any business, it requires you to manage yourself. Sure, you get unlimited control over your schedule, but that also means it’s far easier to slack off. What do I need to start my handyman business? In most states, all you need is a local business license to offer home repairs, which is easy to obtain. Although not technically required, I also recommend the following at a minimum:  Create an LLC Get an EIN Set up a business checking account Get handyman liability insurance Download a handyman app or software to run your business Get a contractor’s license (optional depending on the type of work you want to do)  Of course, ensure you follow the steps above and invest an hour or two learning the laws in your state. Conclusion Once you take the five steps listed above, you’ll have a solid plan for dominating as a pro handyman. You’ll have a new feeling of excitement, a boost in motivation, and you’ll be ready to claim your freedom and finally start a business. Obviously, you won’t get this all done in one sitting. So take your time and knock out each step one at a time (and don’t forget to take advantage of the training products I’ve created to help you.) P.S. Ready to jump-start your business? If so, save yourself time, accelerate your results, and avoid common mistakes by following my complete step-by-step system for starting a profitable handyman business. Click here to learn more. The post The First 5 Steps to Starting a Profitable Handyman Business in 2023 appeared first on Handyman Startup.

Ready to start your handyman business and want to know the best way to get started? Like most people in your shoes, you probably have one or more of the following questions: “What’s the first step?” “How much experience do I need?” “What kind of licensing do I need?” “How much money can I actually make?” I’ll answer them all here. But regardless of what questions you have or how much experience is under your belt, starting a handyman business the smart way should always consist of the same steps. And in this article, I will walk you through the first five steps to starting a profitable and enjoyable handyman business. By completing these first steps, you will create a clear business plan that will bring you profit, freedom, and satisfaction. <h2>Step #1 – Choose Your Services</h2> The first step is to <a href="https://www.handymanstartup.com/assessing-handyman-skills-and-creating-a-services-list/" rel="nofollow" target="_blank">evaluate your current skills and decide on the services you will provide.</a> You may be thinking, “Don’t I need to be able to do everything?” The short answer is no; you don’t. In fact, you can generate large profits by offering a limited range of services. In fact, in some cases, <a href="https://www.handymanstartup.com/7-reasons-to-specialize-with-your-handyman-business/" rel="nofollow" target="_blank">it can be more profitable to specialize</a>. For example, I cannot do any plumbing, electrical, or HVAC work without a license in my state. This limits my services significantly, yet I still have more business than I could possibly handle. Additionally, think about all of the other handyman-like service businesses out there, such as garage door repair companies, lawn care companies, locksmiths, home security installers, masons, and many others. These businesses all focus on a specific service and can be very lucrative. As a handyman, you will have a much broader range of services that will span several trades, but you can certainly get started by offering what you know how to do and grow from there. That’s how I started my handyman business, and <a href="https://www.handymanstartup.com/how-to-learn-any-skill-and-get-paid-to-do-it/" rel="nofollow" target="_blank">I’m still learning new skills</a> every day. So the first thing you need to do is make a list of all of the possible services you can offer right now. To get some ideas, I recommend reading the free report below. In it, I share ten profitable handyman services you can offer without a contractor’s license. <h2>Step #2: Learn the Handyman Laws in Your State</h2> One of the best ways to ruin your day is to start a business as a handyman, only to realize later you need a contractor’s license to provide the services you want to provide. Hopefully, you don’t <a href="https://www.handymanstartup.com/handyman-licenses-and-laws/" rel="nofollow" target="_blank">find this out the hard way</a> as I did. Before you get too excited about the services list that you just made, it’s time to do some reading on the contracting laws in your state (every state is different). You need to find out which services you can and can’t offer without a license, or you need to figure out what license you need to provide the service you want to provide. In many cases, you won’t need a special license at all. For example, in my state, I can’t do any electrical, plumbing, or HVAC without a license in those specific trades. Also, I can’t do jobs over $1,000 without a <a href="https://www.handymanstartup.com/should-you-get-a-contractors-license/" rel="nofollow" target="_blank">contractor’s license</a>. So basically, I can do anything under $1,000 that isn’t plumbing, electrical, or HVAC without a license. That may sound very limiting, but it’s actually totally fine. There are plenty of jobs that fit within those limits – more than enough to run a profitable home repair business. Although I could do bigger jobs and potentially make more money with a license, not having a license actually works better for my business model since I focus on small repairs anyway. You can get a pretty good idea of the laws in your state by going to your state’s contractors’ board website and reading there. Typically they will have a FAQ section for handymen, which will outline laws related to small repairs and maintenance. To learn more about handyman licenses and laws, <a href="https://www.handymanstartup.com/handyman-licenses-and-laws/" rel="nofollow" target="_blank">read this article</a>. <h2>Step #3 – Define Your Ideal Customer</h2> Not everyone is your customer. When I first started my handyman business, I didn’t really understand this concept and I worked for anybody I could. I’d lower my prices to get jobs, take on jobs I wasn’t good at, and try to serve everyone who would hire me. Because of this, I ended up getting some bad reviews and selling myself short. Finally, I learned my lesson. Never <a href="https://www.handymanstartup.com/service-pricing-mistake/" rel="nofollow" target="_blank">lower your rates to get customers</a>. Design your business around helping a specific type of customer and focus on helping them. Your services simply aren’t a good fit for everybody who needs a handyman. Some customers just want the lowest prices or can’t afford to pay a professional rate. Other customers don’t mind paying higher rates as long as you provide good service. Some customers live forty miles away, while others are just a short five-minute drive away. Some customers only want the best of the best, and others just want the job done so they can move on with their lives. There is profit to be made with all of these customers, but deciding on the kind of service you want to offer is essential. I can’t stress this enough. <a href="https://www.handymanstartup.com/target-the-right-customers/" rel="nofollow" target="_blank">Targeting the right customers</a> will have a dramatic impact on both your enjoyment and your profits as a pro handyman. This is true for any business, and it’s especially true for a handyman, plumber, electrician, or contractor because you’ll be dealing with your customers face to face. If you are targeting customers you actually enjoy working for and who are willing to pay decent rates for your services, you’ll be happier, they’ll be happier, you’ll get more referrals and repeat business, and you’ll make more money. If you try to work for everybody, you’re going to struggle financially or emotionally – probably both. By spending some time figuring out who would benefit most from your service and who you actually want to work for, you can avoid this frustration, and your success will be accelerated. <h2>Step #4: Set Your Pricing</h2> It’s time to figure out <a href="https://www.handymanstartup.com/figure-hourly-rate/" rel="nofollow" target="_blank">how much to charge</a>. But first, let’s answer the bigger question on your mind. <h3>How much can you make as a pro handyman?</h3> It may surprise you, but it’s <a href="https://www.handymanstartup.com/how-much-handyman-make/" rel="nofollow" target="_blank">not uncommon for pro handymen to generate a six-figure income</a> while providing basic handyman services. Personally, I’ve made up to $200 per hour and typically average just under $100 per hour. The handyman business can be surprisingly profitable IF you set it up properly. And as with any business, having a good grasp on the financial side of things is essential, especially when setting your handyman rates. Deciding how much to charge is one of the most difficult parts of starting a handyman business because of the psychology and limiting beliefs involved. This is where I see the most mistakes with my readers. Not only do you need to consider things like your experience level, work efficiency, ability to sell, reputation, and professionalism, but you also need to understand what you must charge to actually turn a profit. Then, you need to have the balls to charge that much! It’s no easy task when you probably have some <a href="https://www.handymanstartup.com/fears-starting-your-business/" rel="nofollow" target="_blank">self-doubt about your skills</a> and abilities to start with. (Don’t worry, most people do.) But here’s the deal. This problem has already been solved. You don’t have to just pick a number out of thin air or base your rates on what your friends or family think. You don’t have to undercharge, waste time, and leave money on the table while you learn pricing the hard way. Instead, you can follow a <a href="https://www.handymanstartup.com/landing/100k-handyman-pricing/" rel="nofollow" target="_blank">proven system for setting your pricing that guarantees you generate a healthy profit</a>. (Nothing against your friends and family, but they probably aren’t your ideal customers, so their opinions don’t matter.) <h2>Step #5 – Develop a Marketing Strategy</h2> At this point, you should have a good idea of the services you are going to offer, who will buy them, and how much you are going to charge. The next step is to figure out how you will reach your ideal clients and then convince them to hire you. That’s right. It’s time to form a marketing plan. The good news for you is that people are actively searching for your services every single day of the year. Handyman services are in high demand, and the demand is growing. The bad news is that there are many other handymen out there with the same thing in mind. Don’t worry. There’s more good news. Most handymen are terrible marketers, and <a href="https://www.handymanstartup.com/good-marketing-makes-everything-easier/" rel="nofollow" target="_blank">by putting a little extra effort into your marketing, you can make a killing</a>. The fact that you are reading this website puts you way ahead of the pack. Your goal in this step is to determine which marketing methods will be most effective and have the highest ROI (return on investment). So sit down and study your ideal clients’ behaviors, desires, and frustrations so you can come up with the best methods for promoting your handyman business and gaining those customers. Or, you can simply <a>download this free handyman marketing report,</a> where I share the most effective method for attracting high-paying customers. Either way, you’ll want to spend some time on marketing because it will have a big impact on your income and enjoyment. Don’t fall for the lie that word of mouth is all you need. That only works if you are either undercharging or have been in business for several years. Now, listen to the podcast version of this article, which includes extra content. Listen right here or on your favorite podcast app! HS028 – The First 5 Steps To Starting a Profitalbe Handyman Business <h2>Bonus Q&amp;A</h2> <h3>Is starting a handyman business a good idea?</h3> If you enjoy working with your hands and helping people, the handyman business can be fun, fulfilling, and profitable. It’s a high-demand service, so job security is high. Also, every day is different, and it’s healthy to move your body all day long. For me personally, it has been the most enjoyable career I’ve had so far, and the vast majority of my students who use my programs to get started absolutely love the businesses they create. There aren’t many careers out there where you get to move your body, solve interesting problems, and then have customers happily pay you with money and gratitude after a job well done. However, to be successful, you must be self-motivated. Just like running any business, it requires you to manage yourself. Sure, you get unlimited control over your schedule, but that also means it’s far easier to slack off. <h3>What do I need to start my handyman business?</h3> In most states, all you need is a local business license to offer home repairs, which is easy to obtain. Although not technically required, I also recommend the following at a minimum: <ul> <li>Create an <a href="https://www.handymanstartup.com/llc-vs-sole-proprietorship/" rel="nofollow" target="_blank">LLC</a></li> <li>Get an <a href="https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online" rel="nofollow" target="_blank">EIN</a></li> <li>Set up a business <a href="https://www.handymanstartup.com/save-time-business-paperwork/" rel="nofollow" target="_blank">checking account</a></li> <li>Get <a href="https://www.handymanstartup.com/handyman-insurance/" rel="nofollow" target="_blank">handyman liability insurance</a></li> <li>Download a <a href="https://www.handymanstartup.com/run-handyman-business-from-smartphone/" rel="nofollow" target="_blank">handyman app or software</a> to run your business</li> <li>Get a contractor’s license (optional depending on the type of work you want to do)</li> </ul> Of course, ensure you follow the steps above and invest an hour or two learning the laws in your state. <h2>Conclusion</h2> Once you take the five steps listed above, you’ll have a solid plan for dominating as a pro handyman. You’ll have a new feeling of excitement, a boost in motivation, and you’ll be ready to claim your freedom and finally start a business. Obviously, you won’t get this all done in one sitting. So take your time and knock out each step one at a time (and don’t forget to take advantage of the training products I’ve created to help you.) P.S. Ready to jump-start your business? If so, save yourself time, accelerate your results, and avoid common mistakes by following my complete step-by-step system for starting a profitable handyman business. <a href="https://www.handymanstartup.com/landing/start-handyman-business-course/" rel="nofollow" target="_blank">Click here to learn more</a>. The post <a href="https://www.handymanstartup.com/starting-home-based-handyman-business/" rel="nofollow" target="_blank">The First 5 Steps to Starting a Profitable Handyman Business in 2023</a> appeared first on <a href="https://www.handymanstartup.com" rel="nofollow" target="_blank">Handyman Startup</a>.

The First 5 Steps to Starting a Profitable Handyman Business in 2023

The cost to start a profitable handyman business will usually fall somewhere between $2,000 and $6,000, depending on how much of the process you outsource vs. do yourself.  However, that doesn’t mean you have to spend that much upfront. These costs can be paid over the first several months in business while you are making money. While this may seem expensive, the start-up costs for a handyman business are low compared to most businesses, especially if you already have the tools and a work vehicle. Additionally, I don’t like to think of them as costs but as investments since you are investing in a business that will bring you freedom, high income, and fulfilling work. Of course, you can start a handyman business for just a few hundred bucks, but that means you’ll be cutting corners that will cost you in the long run. Here’s a more detailed explanation of costs.Some of the links on this page are affiliate links. That means I receive a small commission if you click on them and buy. This is at no additional cost to you and helps me to continue publishing free content.List of Handyman Business Start-Up Costs This list assumes that you already have a lot of the necessary tools and a work vehicle. If you don’t have either of those, then the cost will be significantly higher, of course. Business Licensing: $100-$1,000 This expense will vary depending on the city and state in which you plan to run your business, the business structure you choose (LLC, S Corp, or Sole Proprietor), and whether or not you pay somebody to help you submit the forms. If you go with an LLC and file the forms yourself, expect to spend about $400-$500 here. However, that is the cost for filing with the state, you’ll also need to consider other business licenses such as a city business license. But, those are usually less expensive and should only be around $100-200 for each city you plan to work in. Contractor’s License (optional in most situations): $0 – $1,000 In most states, you won’t need a contractor’s license to start offering home repairs. However, if you want to tackle large projects such as kitchen or bath remodels and don’t want to be limited to only small repairs, then a contractor’s license is usually necessary. The cost to obtain that license can vary significantly depending on where you live and other factors. This is something you’ll want to look into for your state. Liability Insurance: $30 – $200 per month Getting general liability insurance as a pro handyman isn’t required by law unless you have a contractor’s license, but it’s still a good idea and something I recommend. Here’s a guide to getting the right coverage at the right price. Tools and Equipment: $0 – $3,000 Typical handyman services only require basic hand tools and a few power tools. Usually, no expensive specialized equipment is necessary. If you already have most of the essential handyman tools, this will be a small expense. However, if you possess very few tools, then you’ll obviously spend more. Either way, it’s best to avoid throwing a bunch of money at fancy tools during the first few months. Instead, buy tools as you need them. Software: $0 – $75 There are two types of software most handymen will need: accounting software and estimating software. There are excellent free options for both, as I mention here. However, these are usually “freemium” models where you will have to pay for certain optional features. Logo Design: $0 – $1,000 You can design your own or have a pro do it for you. I’d recommend the latter. Crowdsourcing your handyman logo is probably the easiest way to get a great logo designed for about $500. But in a pinch, you could use a service like Fiverr to get one for much cheaper. Build a Website: $200 – $8,000 If you build your own website (easier than you think), you can save a LOT of money here. To have a decent website designed by a professional will usually cost a few grand. If you hire somebody who can both design and understands marketing, you can easily pay $8,000 or more. Or, you can go through my Handyman Marketing Machine course and learn how to do it yourself the right way, so your website actually generates leads for you. Uniforms: $100 – $500 Investing in a professional uniform (which can be as simple as a nice polo shirt with your logo on it) will help you build trust with customers and sell your services. This is obviously not required but will make a big difference in how customers perceive you and, therefore, how much they will pay for your services. Business Cards: $20-$100 You can get 100 basic cards for just under $20, or you can get nicer cards and spend considerably more. Truck Decals: $0 – $3,000 Branding your work vehicle is a great way to look more professional and get your name out there. I spent about $250 and applied them myself. But if you do a vehicle wrap or have somebody else design them for you, the price will be much higher. Initial Advertising: $0 – $1,000 This will cover things like paying for leads or priority placement in search engines. The cost to attract customers will vary based on the advertising method, the effectiveness of your ads, and how aggressively you approach advertising. If you have a large network of friends and family to promote your services to, or if you are smart with your online marketing, you may never have to pay for ads to keep your schedule filled. However, for most new handymen getting started, you can expect to spend at least $500 over the first few months paying for leads or ads on various websites. Bank Account: $529 It usually doesn’t cost anything to set up a business checking account, but there is usually a minimum balance of $500 plus $29 for the first checks. Bookkeeping services: $0 – $1,000 If you hire someone to handle your bookkeeping, they will often charge an initial setup fee. Of course, this is optional, and you can do your bookkeeping yourself. Business consulting and Education: $1,000 – $10,000 Paying other people for their knowledge is the best way to shortcut your path to success in business. Online courses, books, and even one-on-one consulting are all recommended because what you learn will often pay for itself within months, give you the best chance for success, and make the process of getting started more enjoyable. Different strokes for different folks Ultimately, everyone has a different style when starting a business. Some people are comfortable dropping ten grand because they know this is what they’re going to do, and they know they have the skills to make it work, and others may want to slowly dip their toes into the pool before going all-in with their startup. Below is a table that demonstrates the expected start-up costs depending on how you approach starting your business. Table 1: Estimated Start-Up Expenses for a Solo Handyman Business On the left column, you have what I call the “cheap labor” approach. This is when you don’t invest anything into looking professional or into marketing and just rely on word-of-mouth. This usually results in a poor experience, low profits, and becoming cheap labor. The next column is the “luxury startup,” which is the opposite extreme. This is what you can expect if you outsource everything and hire experts to handle everything from marketing to accounting. While this spare-no-expense approach will certainly help you get started faster, it is prohibitively expensive for most. The third column is the “Instant Pro” version, which is what I recommend. This is a good combo between frugality and investing in things that have a high return on investment, such as marketing yourself as a professional and investing in your business education. And finally, you have the fourth column, which is what you can expect to invest if you DIY almost every step of the process, from designing your own logo to doing your own accounting. It will save you money in the short term but will take significantly longer to get your business going. Conclusion The cost to start a handyman business is low compared to most businesses, or even career changes for that matter, but it still requires a financial investment. Being too frugal can cost you in the long run, but that doesn’t mean you need to have $6,000 in savings to be successful. A lot of the startup-up expenses aren’t necessary right away and can be dispersed over several months. I certainly didn’t go out and spend $6,000 in my first month in business. Not even close. Regardless of how much money you have to invest, you can start a profitable handyman business with the right approach and consistent effort. If you’re ready to take control of your time and start a profitable handyman business, check out my complete startup guide here. Now, listen to the podcast version of this article, which includes insights into where to invest your start-up capital for the highest ROI. Listen right here or on your favorite podcast app! HS027 – How much does it cost to start a handyman business? The post How Much Does it Cost to Start a Handyman Business? appeared first on Handyman Startup.

The cost to start a profitable handyman business will usually fall somewhere between $2,000 and $6,000, depending on how much of the process you outsource vs. do yourself. However, that doesn’t mean you have to spend that much upfront. These costs can be paid over the first several months in business while you are making money. While this may seem expensive, the start-up costs for a handyman business are low compared to most businesses, especially if you already have the tools and a work vehicle. Additionally, I don’t like to think of them as costs but as investments since you are investing in a business that will bring you freedom, high income, and fulfilling work. Of course, you can start a handyman business for just a few hundred bucks, but that means you’ll be cutting corners that will cost you in the long run. Here’s a more detailed explanation of costs.Some of the links on this page are affiliate links. That means I receive a small commission if you click on them and buy. This is at no additional cost to you and helps me to continue publishing free content. <h2>List of Handyman Business Start-Up Costs</h2> This list assumes that you already have a lot of the necessary <a href="https://www.handymanstartup.com/7-power-tools-to-never-leave-the-shop-without/" rel="nofollow" target="_blank">tools</a> and a <a href="https://www.handymanstartup.com/best-handyman-vehicle/" rel="nofollow" target="_blank">work vehicle</a>. If you don’t have either of those, then the cost will be significantly higher, of course. <h4>Business Licensing: $100-$1,000</h4> This expense will vary depending on the city and state in which you plan to run your business, the business structure you choose (<a href="https://www.handymanstartup.com/hs023-business-and-accounting-advice-from-construction-accountant-randal-dehart/" rel="nofollow" target="_blank">LLC, S Corp, or Sole Proprietor</a>), and whether or not you pay somebody to help you submit the forms. If you go with an LLC and file the forms yourself, expect to spend about $400-$500 here. However, that is the cost for filing with the state, you’ll also need to consider <a href="https://www.handymanstartup.com/license-your-business/" rel="nofollow" target="_blank">other business licenses</a> such as a city business license. But, those are usually less expensive and should only be around $100-200 for each city you plan to work in. <h4>Contractor’s License (optional in most situations): $0 – $1,000</h4> In most states, you won’t need a <a href="https://www.handymanstartup.com/should-you-get-a-contractors-license/" rel="nofollow" target="_blank">contractor’s license</a> to start offering home repairs. However, if you want to tackle large projects such as kitchen or bath remodels and don’t want to be limited to only small repairs, then a contractor’s license is usually necessary. The cost to obtain that license can vary significantly depending on where you live and other factors. This is something you’ll want to look into for your state. <h4>Liability Insurance: $30 – $200 per month</h4> Getting general liability insurance as a pro handyman isn’t required by law unless you have a contractor’s license, but it’s still a good idea and something I recommend. Here’s <a href="https://www.handymanstartup.com/handyman-insurance/" rel="nofollow" target="_blank">a guide to getting the right coverage at the right price</a>. <h4>Tools and Equipment: $0 – $3,000</h4> Typical handyman services only require basic hand tools and a few power tools. Usually, no expensive specialized equipment is necessary. If you already have most of the <a href="https://www.handymanstartup.com/handyman-tools/" rel="nofollow" target="_blank">essential handyman tools</a>, this will be a small expense. However, if you possess very few tools, then you’ll obviously spend more. Either way, it’s best to avoid throwing a bunch of money at fancy tools during the first few months. Instead, buy tools as you need them. <h4>Software: $0 – $75</h4> There are two types of software most handymen will need: accounting software and estimating software. There are excellent free options for both, as I mention <a href="https://www.handymanstartup.com/handyman-business-software/" rel="nofollow" target="_blank">here</a>. However, these are usually “freemium” models where you will have to pay for certain optional features. <h4>Logo Design: $0 – $1,000</h4> You can design your own or have a pro do it for you. I’d recommend the latter. <a href="https://www.handymanstartup.com/5-tips-to-successfully-crowdsourcing-your-logo/" rel="nofollow" target="_blank">Crowdsourcing your handyman logo</a> is probably the easiest way to get a great logo designed for about $500. But in a pinch, you could use a service like Fiverr to get one for much cheaper. <h4>Build a Website: $200 – $8,000</h4> If you <a href="https://www.handymanstartup.com/how-to-build-a-website/" rel="nofollow" target="_blank">build your own website</a> (easier than you think), you can save a LOT of money here. To have a decent website designed by a professional will usually cost a few grand. If you hire somebody who can both design and understands marketing, you can easily pay $8,000 or more. Or, you can go through my <a href="https://www.handymanstartup.com/landing/handyman-marketing-machine/" rel="nofollow" target="_blank">Handyman Marketing Machine</a> course and learn how to do it yourself the right way, so your website actually generates leads for you. <h4>Uniforms: $100 – $500</h4> Investing in a professional uniform (which can be as simple as a nice polo shirt with your logo on it) will help you build trust with customers and sell your services. This is obviously not required but will make a big difference in how customers perceive you and, therefore, how much they will pay for your services. <h4>Business Cards: $20-$100</h4> You can get <a href="https://vistaprintna.pxf.io/rnKmV5" rel="noopener nofollow" target="_blank">100 basic cards for just under $20</a>, or you can get nicer cards and spend considerably more. <h4>Truck Decals: $0 – $3,000</h4> <a href="https://www.handymanstartup.com/branding-your-vehicle/" rel="nofollow" target="_blank">Branding your work vehicle</a> is a great way to look more professional and get your name out there. I spent about $250 and applied them myself. But if you do a vehicle wrap or have somebody else design them for you, the price will be much higher. <h4>Initial Advertising: $0 – $1,000</h4> This will cover things like paying for leads or priority placement in search engines. The cost to attract customers will vary based on the advertising method, the effectiveness of your ads, and how aggressively you approach advertising. If you have a large network of friends and family to promote your services to, or if you are smart with your online marketing, you may never have to pay for ads to keep your schedule filled. However, for most new handymen getting started, you can expect to spend at least $500 over the first few months paying for leads or ads on various websites. <h4>Bank Account: $529</h4> It usually doesn’t cost anything to set up a business checking account, but there is usually a minimum balance of $500 plus $29 for the first checks. <h4>Bookkeeping services: $0 – $1,000</h4> If you hire someone to handle your bookkeeping, they will often charge an initial setup fee. Of course, this is optional, and you can do your bookkeeping yourself. <h4>Business consulting and Education: $1,000 – $10,000</h4> Paying other people for their knowledge is the best way to shortcut your path to success in business. <a href="https://www.handymanstartup.com/landing/" rel="nofollow" target="_blank">Online courses</a>, books, and even one-on-one consulting are all recommended because what you learn will often pay for itself within months, give you the best chance for success, and make the process of getting started more enjoyable. <h2>Different strokes for different folks</h2> Ultimately, everyone has a different style when starting a business. Some people are comfortable dropping ten grand because they know this is what they’re going to do, and they know they have the skills to make it work, and others may want to slowly dip their toes into the pool before going all-in with their startup. Below is a table that demonstrates the expected start-up costs depending on how you approach starting your business. Table 1: Estimated Start-Up Expenses for a Solo Handyman Business On the left column, you have what I call the “cheap labor” approach. This is when you don’t invest anything into looking professional or into marketing and just rely on word-of-mouth. This usually results in a poor experience, low profits, and becoming cheap labor. The next column is the “luxury startup,” which is the opposite extreme. This is what you can expect if you outsource everything and hire experts to handle everything from marketing to accounting. While this spare-no-expense approach will certainly help you get started faster, it is prohibitively expensive for most. The third column is the “Instant Pro” version, which is what I recommend. This is a good combo between frugality and investing in things that have a high return on investment, such as marketing yourself as a professional and investing in your business education. And finally, you have the fourth column, which is what you can expect to invest if you DIY almost every step of the process, from designing your own logo to doing your own accounting. It will save you money in the short term but will take significantly longer to get your business going. <h2>Conclusion</h2> The cost to start a handyman business is low compared to most businesses, or even career changes for that matter, but it still requires a financial investment. Being too frugal can cost you in the long run, but that doesn’t mean you need to have $6,000 in savings to be successful. A lot of the startup-up expenses aren’t necessary right away and can be dispersed over several months. I certainly didn’t go out and spend $6,000 in my first month in business. Not even close. Regardless of how much money you have to invest, you can start a profitable handyman business with the right approach and consistent effort. If you’re ready to take control of your time and start a profitable handyman business, check out my complete startup guide <a href="https://www.handymanstartup.com/landing/start-handyman-business-course/" rel="nofollow" target="_blank">here</a>. Now, listen to the podcast version of this article, which includes insights into where to invest your start-up capital for the highest ROI. Listen right here or on your favorite podcast app! HS027 – How much does it cost to start a handyman business? The post <a href="https://www.handymanstartup.com/how-much-does-it-cost-to-start-up-a-handyman-business/" rel="nofollow" target="_blank">How Much Does it Cost to Start a Handyman Business?</a> appeared first on <a href="https://www.handymanstartup.com" rel="nofollow" target="_blank">Handyman Startup</a>.

How Much Does it Cost to Start a Handyman Business?

Last updated: July 11, 2022 Having a career as a pro handyman can be surprisingly lucrative. In fact, I’ve made up to $200 per hour doing basic home repairs, and typically average just under $100 per hour. How did I do it? I explain exactly how in this step-by-step guide here, but for now, let’s focus on how much an average handyman makes each year, so you can get a good idea of how much you can make as a handyman. Contents  What is the average handyman salary? What is the average income for a self-employed handyman? How much can you make as a self-employed handyman? Employee vs. Self-Employed handyman. Which is more lucrative? How much is health insurance for a self-employed handyman?   Average handyman salaries I hunted for relevant stats regarding handyman salaries. Here are the important ones I dug up: According to Zip Recruiter:  The annual salary for a pro handyman in the U.S. ranges from $20,000 to $69,500. The national average annual income for a handyman is $42,394. 68% of handymen make between $29,000 and $51,500.  Here are a few handyman-type careers and their annual median pay in 2021, according to the U.S. Bureau of Labor and Statistics:  Construction laborers and helpers: $37,520 ($18.04 per hour) General maintenance and repair workers: $43,180 ($20.76 per hour) Carpenters: $48,260 ($23.20 per hour) Plumbers: $59,880 (28.79 per hour) Electricians: $60,040 ($28.87 per hour) Construction managers: $98,890 ($47.55 per hour) Construction and building inspectors: $61,640 ($29.63 per hour)  Figure 1: National Average Salary For Handyman Type Jobs   Again, these numbers are the median. Some handyman workers make more, and others make less. A highly skilled handyman with a decade of experience will make more than someone less experienced or knowledgeable. Location plays a significant role in how much you can make as well. To get a better estimate of potential income in your specific area, check out a website like Zip Recruiter. As you can see from the numbers above, employed handymen tend to make more than construction helpers do, but neither is rolling in cash. Plumbers and electricians make quite a bit more, but if you want to make six figures in this industry as an employee, your best bet is to land a job as a construction manager. Now, let’s look at how much you can make with a handyman business because this is much more fun and interesting.  How much can you make as a self-employed handyman? The average self-employed handyman can expect to make between $51,000 and $110,000 per year in income (after expenses). This is for a handyman working solo with no employees. So if you’re wondering if the handyman business is profitable, the answer is YES. Like I said, operating a handyman business can be pretty lucrative if you set up your business correctly and provide an excellent service to customers. Take a look at this table, which I’ve created to give you an estimate of your potential income as a self-employed handyman, based on how much you charge and how many billable hours you work each week. Table 1: Estimated Self-Employed Handyman Income  Table 1 is based on the following assumptions: $7,020 yearly fixed overhead expenses, $6.21 per billable hour for variable costs (gas, vehicle, supplies, and tools), self-employment taxes of 15.3% already paid from net earnings, 49 weeks per year worked. This table represents actual income. Typical handyman business expenses (insurance, licensing, tools, marketing, etc.) and self-employment taxes are already factored into the equation. This means it provides a near apples-to-apples comparison with an employee’s salary. As you can see from the table, two main variables will affect your yearly income as a pro handyman:  Your rates (how much you generate per billable hour, regardless of if you charge by the hour or not). The number of billable hours worked per week.  Of course, other things will affect your income as well, such as variation in expenses, but these tend to be similar for most self-employed handyman businesses. Since I’ve been nerding out about the handyman business for nearly a decade, I can estimate typical expenses with enough precision to be valid.  How much can you expect to make, given your unique circumstances? To answer this question, you’ll need to estimate your rates and how many hours you will bill for, on average, each week. Here’s one way to figure that out. Estimating your self-employed handyman rates As I demonstrated in my article about setting handyman hourly rates, pro handymen in the U.S. average between $40 to $125 per hour, with the majority of them making $60 to $85 per hour. That’s a pretty decent range, and what you can charge will depend on where you live, the services you provide, and how good you are at what you do (just like for employees). However, as a business owner, your income will also be affected by your business skills. If you learn how to market your business effectively, sell your services, and manage yourself and your expenses well, it will have a dramatic impact on your profits and income. But, assuming you become average at those business skills, it’s safe to assume you can get between $60 and $85 per billable hour for your time (and much more if you master the business skills). Adjust a bit higher if you live in a major metropolitan area, and a bit lower if you live in a rural area. Estimating your billable hours As a self-employed handyman, you won’t be paid for every hour that you work. Unlike an employee, you’ll have to answer the phone, follow up with customers, manage your bookkeeping, shop for tools and supplies, market your services, and do other admin tasks that you will not be paid for (at least not directly). So, unless you want to work 60+ hours per week, you won’t bill for 40 hours per week. A reasonable estimate for a typical handyman is to work somewhere between 25 and 35 billable hours per week. That allows time for driving to and from jobs, following up, and other day-to-day tasks. Of course, this also assumes you can keep your schedule full in the first place. So, if you look at the table above and then match your estimated hourly rate with the number of billable hours you will be working, you can get a pretty good idea of your income. If you assume 25 billable hours per week at $60 per hour, then you will make about $50,000 in a year. Figure 2: Estimated self-employed handyman annual income (If working 30 billable hours per week on average) If you can average over 32 billable hours per week at a rate of $85 per hour or more, then you can make over $100,000. Not too bad!  Get a job or start a business? Which is better for a handyman? If you only look at income potential, this is a no-brainer. Starting a handyman business is by far the better option. As an employee with lots of experience, you are only looking at an income ceiling of $79,000, whereas the same skills and experience could earn you well over $100K with your own business. Being self-employed has other benefits as well. You have more control over your schedule. You have more control over which customers you work for and what kind of jobs you take on. If you build your business well, you are creating an asset that has value. And, owning your own business is more secure than being an employee. But, there are downsides to being self-employed. You have to manage your marketing, pricing, and yourself. This can be stressful, and if you don’t manage your business well, you can end up making a lot less than you would as an employee. It also takes time to get your business up and running (time that you aren’t paid for). As an employee, you have the benefit of making money right away. Every hour that you work, you are guaranteed to receive compensation. You also don’t have to decide how much to charge or where to invest your marketing dollars. You just get to show up and fix stuff. Being an employee is often less stressful. However, as an employee, you don’t have control over your schedule. You have to work when, where, and for who you are told. You may have to take on jobs that you hate doing. And, of course, your income potential is significantly lower. For me, starting a business is a clear choice, and the benefits far outweigh the downsides. But, if you are looking for on-the-job training, a faster route to payday, or a more consistent income, and you don’t mind following orders, then getting a job may be a better choice for you.  What about the cost of health insurance for self-employed handymen? Many self-employed pros are covered under their spouse’s health benefits. But, what if you aren’t? Are you better off just getting a job with benefits instead of starting a business? Probably not. Let’s take a look at some numbers. According to ehealthinsurance.com:  The average monthly premium for an individual in 2021 was $484 ($5,808 per year). The average monthly premium for a family was $1230 ($14,760 per year).  Paying health insurance is a huge bummer, but it’s probably not expensive enough to force you to get a job. Let’s retake a look at the numbers. Above, I said that the average self-employed handyman could expect to make between $51,000 and $110,000. If we factor in health insurance, here’s how things change. Estimated self-employed handyman income after paying for health insurance:  $45,000 to $104,000 if paying for individual coverage. $36,000 to $95,000 if paying for a family health insurance premium.  Those income ranges are still significantly higher than the $29,000 to $52,000 range that 68% of employee handymen earn. So even if you include insurance into the equation, you can still make more as a self-employed handyman. Conclusions The handyman business can be quite profitable, especially if you are willing to work hard and focus some time and effort on learning business skills. An effective self-employed handyman can earn significantly more than they could as an employee. If you are a self-driven person with the confidence that you can solve problems, starting your own handyman business is your best bet. And lastly, as a self-employed handyman, it’s worth it to invest time and money to learn how to raise your rates or schedule jobs more efficiently. Doing so will have a significant impact on your income.  Now, listen to the podcast version of this article, which includes extra content with deeper insights. Listen right here or on your favorite podcast app! HS026 – How much money can you make as a pro handyman? The post How much can you make as a pro handyman? appeared first on Handyman Startup.

Last updated: July 11, 2022 Having a career as a pro handyman can be surprisingly lucrative. In fact, I’ve made up to $200 per hour doing basic home repairs, and typically average just under $100 per hour. How did I do it? I explain exactly how in this step-by-step guide <a href="https://www.handymanstartup.com/landing/start-handyman-business-course/" rel="nofollow" target="_blank">here</a>, but for now, let’s focus on how much an average handyman makes each year, so you can get a good idea of how much you can make as a handyman. <h2>Contents</h2> <ul> <li><a href="#employed" rel="nofollow" target="_blank">What is the average handyman salary?</a></li> <li><a href="#self" rel="nofollow" target="_blank">What is the average income for a self-employed handyman?</a></li> <li><a href="#howmuch" rel="nofollow" target="_blank">How much can you make as a self-employed handyman?</a></li> <li><a href="#vs" rel="nofollow" target="_blank">Employee vs. Self-Employed handyman. Which is more lucrative?</a></li> <li><a href="#insurance" rel="nofollow" target="_blank">How much is health insurance for a self-employed handyman?</a></li> </ul> <a></a> <h2>Average handyman salaries</h2> I hunted for relevant stats regarding handyman salaries. Here are the important ones I dug up: According to <a href="https://www.ziprecruiter.com/Salaries/Handyman-Salary" rel="noopener nofollow" target="_blank">Zip Recruiter</a>: <ul> <li>The annual salary for a pro handyman in the U.S. ranges from $20,000 to $69,500.</li> <li>The national average annual income for a handyman is $42,394.</li> <li>68% of handymen make between $29,000 and $51,500.</li> </ul> Here are a few handyman-type careers and their annual median pay in 2021, according to the <a href="https://www.bls.gov/ooh/construction-and-extraction/home.htm" rel="noopener nofollow" target="_blank">U.S. Bureau of Labor and Statistics</a>: <ul> <li>Construction laborers and helpers: $37,520 ($18.04 per hour)</li> <li>General maintenance and repair workers: $43,180 ($20.76 per hour)</li> <li>Carpenters: $48,260 ($23.20 per hour)</li> <li>Plumbers: $59,880 (28.79 per hour)</li> <li>Electricians: $60,040 ($28.87 per hour)</li> <li>Construction managers: $98,890 ($47.55 per hour)</li> <li>Construction and building inspectors: $61,640 ($29.63 per hour)</li> </ul> Figure 1: National Average Salary For Handyman Type Jobs Again, these numbers are the median. Some handyman workers make more, and others make less. A highly skilled handyman with a decade of experience will make more than someone less experienced or knowledgeable. Location plays a significant role in how much you can make as well. To get a better estimate of potential income in your specific area, check out a website like Zip Recruiter. As you can see from the numbers above, employed handymen tend to make more than construction helpers do, but neither is rolling in cash. Plumbers and electricians make quite a bit more, but if you want to make six figures in this industry as an employee, your best bet is to land a job as a construction manager. Now, let’s look at how much you can make with a handyman business because this is much more fun and interesting. <a></a> <h2>How much can you make as a self-employed handyman?</h2> The average self-employed handyman can expect to make between $51,000 and $110,000 per year in income (after expenses). This is for a handyman working solo with no employees. So if you’re wondering if the handyman business is profitable, the answer is YES. Like I said, operating a handyman business can be pretty lucrative if you set up your business correctly and provide an excellent service to customers. Take a look at this table, which I’ve created to give you an estimate of your potential income as a self-employed handyman, based on how much you charge and how many billable hours you work each week. Table 1: Estimated Self-Employed Handyman Income Table 1 is based on the following assumptions: $7,020 yearly fixed overhead expenses, $6.21 per billable hour for variable costs (gas, vehicle, supplies, and tools), self-employment taxes of 15.3% already paid from net earnings, 49 weeks per year worked. This table represents actual income. Typical handyman business expenses (insurance, licensing, tools, marketing, etc.) and self-employment taxes are already factored into the equation. This means it provides a near apples-to-apples comparison with an employee’s salary. As you can see from the table, two main variables will affect your yearly income as a pro handyman: <ol> <li>Your rates (how much you generate per billable hour, regardless of if you charge by the hour or not).</li> <li>The number of billable hours worked per week.</li> </ol> Of course, other things will affect your income as well, such as variation in expenses, but these tend to be similar for most self-employed handyman businesses. Since I’ve been nerding out about the handyman business for nearly a decade, I can estimate typical expenses with enough precision to be valid. <a></a> <h2>How much can you expect to make, given your unique circumstances?</h2> To answer this question, you’ll need to estimate your rates and how many hours you will bill for, on average, each week. Here’s one way to figure that out. <h3>Estimating your self-employed handyman rates</h3> As I demonstrated in my <a href="https://www.handymanstartup.com/figure-hourly-rate/" rel="nofollow" target="_blank">article about setting handyman hourly rates</a>, pro handymen in the U.S. average between $40 to $125 per hour, with the majority of them making $60 to $85 per hour. That’s a pretty decent range, and what you can charge will depend on where you live, the services you provide, and how good you are at what you do (just like for employees). However, as a business owner, your income will also be affected by your business skills. If you learn how to market your business effectively, sell your services, and manage yourself and your expenses well, it will have a dramatic impact on your profits and income. But, assuming you become average at those business skills, it’s safe to assume you can get between $60 and $85 per billable hour for your time (and much more if you master the business skills). Adjust a bit higher if you live in a major metropolitan area, and a bit lower if you live in a rural area. <h3>Estimating your billable hours</h3> As a self-employed handyman, you won’t be paid for every hour that you work. Unlike an employee, you’ll have to answer the phone, follow up with customers, manage your bookkeeping, shop for tools and supplies, market your services, and do other admin tasks that you will not be paid for (at least not directly). So, unless you want to work 60+ hours per week, you won’t bill for 40 hours per week. A reasonable estimate for a typical handyman is to work somewhere between 25 and 35 billable hours per week. That allows time for driving to and from jobs, following up, and other day-to-day tasks. Of course, this also assumes you can keep your schedule full in the first place. So, if you look at the table above and then match your estimated hourly rate with the number of billable hours you will be working, you can get a pretty good idea of your income. If you assume 25 billable hours per week at $60 per hour, then you will make about $50,000 in a year. Figure 2: Estimated self-employed handyman annual income (If working 30 billable hours per week on average) If you can average over 32 billable hours per week at a rate of $85 per hour or more, then you can make over $100,000. Not too bad! <a></a> <h2>Get a job or start a business? Which is better for a handyman?</h2> If you only look at income potential, this is a no-brainer. Starting a handyman business is by far the better option. As an employee with lots of experience, you are only looking at an income ceiling of $79,000, whereas the same skills and experience could earn you well over $100K with your own business. Being self-employed has other benefits as well. You have more control over your schedule. You have more control over which customers you work for and what kind of jobs you take on. If you build your business well, you are creating an asset that has value. And, <a href="https://www.handymanstartup.com/handyman-business-risk/" rel="nofollow" target="_blank">owning your own business is more secure than being an employee</a>. But, there are downsides to being self-employed. You have to manage your marketing, pricing, and yourself. This can be stressful, and if you don’t manage your business well, you can end up making a lot less than you would as an employee. It also takes time to get your business up and running (time that you aren’t paid for). As an employee, you have the benefit of making money right away. Every hour that you work, you are guaranteed to receive compensation. You also don’t have to decide how much to charge or where to invest your marketing dollars. You just get to show up and fix stuff. Being an employee is often less stressful. However, as an employee, you don’t have control over your schedule. You have to work when, where, and for who you are told. You may have to take on jobs that you hate doing. And, of course, your income potential is significantly lower. For me, starting a business is a clear choice, and the benefits far outweigh the downsides. But, if you are looking for on-the-job training, a faster route to payday, or a more consistent income, and you don’t mind following orders, then getting a job may be a better choice for you. <a></a> <h2>What about the cost of health insurance for self-employed handymen?</h2> Many self-employed pros are covered under their spouse’s health benefits. But, what if you aren’t? Are you better off just getting a job with benefits instead of starting a business? Probably not. Let’s take a look at some numbers. According to <a href="https://www.ehealthinsurance.com/resources/individual-and-family/how-much-does-individual-health-insurance-for-self-employed-people-cost" rel="noopener nofollow" target="_blank">ehealthinsurance.com</a>: <ul> <li>The average monthly premium for an individual in 2021 was $484 ($5,808 per year).</li> <li>The average monthly premium for a family was $1230 ($14,760 per year).</li> </ul> Paying health insurance is a huge bummer, but it’s probably not expensive enough to force you to get a job. Let’s retake a look at the numbers. Above, I said that the average self-employed handyman could expect to make between $51,000 and $110,000. If we factor in health insurance, here’s how things change. Estimated self-employed handyman income after paying for health insurance: <ul> <li>$45,000 to $104,000 if paying for individual coverage.</li> <li>$36,000 to $95,000 if paying for a family health insurance premium.</li> </ul> Those income ranges are still significantly higher than the $29,000 to $52,000 range that 68% of employee handymen earn. So even if you include insurance into the equation, you can still make more as a self-employed handyman. <h2>Conclusions</h2> The handyman business can be quite profitable, especially if you are willing to work hard and focus some time and effort on learning business skills. An effective self-employed handyman can earn significantly more than they could as an employee. If you are a self-driven person with the confidence that you can solve problems, <a href="https://www.handymanstartup.com/starting-home-based-handyman-business/" rel="nofollow" target="_blank">starting your own handyman business</a> is your best bet. And lastly, as a self-employed handyman, it’s worth it to invest time and money to <a href="https://www.handymanstartup.com/landing/100k-handyman-pricing/" rel="nofollow" target="_blank">learn how to raise your rates or schedule jobs more efficiently</a>. Doing so will have a significant impact on your income. Now, listen to the podcast version of this article, which includes extra content with deeper insights. Listen right here or on your favorite podcast app! HS026 – How much money can you make as a pro handyman? The post <a href="https://www.handymanstartup.com/how-much-handyman-make/" rel="nofollow" target="_blank">How much can you make as a pro handyman?</a> appeared first on <a href="https://www.handymanstartup.com" rel="nofollow" target="_blank">Handyman Startup</a>.

How much can you make as a pro handyman?

I used to wake up every day with one single question on my mind, “how many days are there before the weekend?” I was counting down the days because I, like millions of people, hated my 9-5 job. And this wasn’t just a mild dislike of my job either. I really, truly, deep down, despised almost everything about it. Waking up each day and realizing that I had to go to work was torture. I felt my stomach drop every Sunday when I realized Monday was soon to be here. But since I’m not a trust fund baby, I needed the money. I also wasn’t aware of a better option. So I stuck it out. That was in 2011. Today is a completely different story. Now I like what I do most of the time. I get to enjoy the freedom and free time that comes with owning a profitable business. I wake up without an alarm clock and often take time off in the middle of the week to go mountain biking. I work fewer hours, enjoy that work more, and I make more money. But in order to get to this point, I had to learn a few lessons. A lot, actually. It turns out that many of my assumptions about starting and running a business were completely wrong. One of my biggest lessons came from having to wade through all of the get-rich-quick schemes. Everywhere I looked, someone was revealing a “secret” strategy for making easy money online or generating passive income with real estate. The people sharing this information made it look like they are living the dream because they figured out some secret that you don’t know and that once you pay for them to reveal that secret, money will fall into your lap. SPOILER ALERT: If it were that easy, everybody would do it! But thankfully, there is a reliable way to escape your day job. And in this article, my goal is to help you see through that bullshit, so you can actually start a business and eventually quit your job, and do it all without risking your savings or overworking yourself. Let’s start with a few of the major success-killing mistakes to avoid so you can one day give your boss the finger. Avoid “Winner-Take-All” Businesses I’ve been reading Nassim Taleb a lot lately, which seems to be helping me avoid stupid mistakes in life. That seems to be essential to succeed in business these days. It’s not about being smart. It’s about NOT being what Taleb calls a “sucker.” And one of the biggest sucker moves is to start a business where the odds are stacked against you so heavily that you only have a sliver of a chance to succeed. So what is “winner-take-all”? It’s characterized by any business or event where only a small percentage of people enjoy the lion’s share of the rewards while everyone else goes home empty-handed. Take the book publishing industry, for example. A few dozen authors sell millions of books, while 98% of books and authors only sell a few hundred copies (if any at all). Or take a look at evolution. One species wins the genetic lottery, and the rest vanish forever. Some historians believe that we actually co-existed with Neanderthals at one point until we humans decided we didn’t want to share our planet anymore. Now there are billions of us, and none of them. Or look at the tech industry, where you have a few companies that dominate the market. Take Amazon, for example. It’s long been, by far, the largest bookseller on earth. Now, it continues to disrupt entire industries and accounted for 49% of all e-commerce spending in 2019. Amazon is a giant among ants, and while it does have some competitors, they are few and far between. The same phenomenon applies to anything where a small advantage leads to disproportionate results. And more often than not, that advantage has to do with luck and circumstance. No matter how skilled you are, how prepared you are, or how hard you work, you still need a healthy dose of luck to win in an industry that is “winner-take-all.” Sure, Jeff Bezos is a smart dude, but plenty of others are just as smart and creative. They just didn’t win the business lottery. Winners like Jeff get to buy giant yachts while other smart, hard-working, and very talented losers go get a job. So you want to start an internet business? Create the next big app? Or, get a patent on some great idea you have for an invention? I wish you the best of luck. But if you want to guarantee your freedom in the next year, those are all terrible choices. Sure, you may have recently heard a story of another guy getting rich from the app store. But what about the other ten thousand people who spent thirty grand to have their app developed and didn’t even make their money back? You didn’t hear about them because they’re not writing blog posts about how to get rich creating apps. They’re stuck in a day job trying to piece together their confidence. Unfortunately, it’s hard to see things clearly when you only hear about the winners. So if you want to escape your day job anytime soon, don’t be a sucker and play a game where the odds are stacked in your favor. Avoid “Passive Income” Opportunities There’s no shortage of experts out there teaching you how to make easy money, whether that is through real estate, YouTube, drop shipping, or selling niche products on Amazon. These can all be amazing ways to create freedom in your life. Even though there are some “winner-take-all” effects in these businesses, the odds are actually pretty good if you stick it out long enough. But there’s the problem! You must stick with it for long enough. How long is long enough? It’s impossible to say. But, you should ask yourself… Are you willing to work your day job for (at least) 3-5 more years while spending all of your nights and weekends building a passive income business? If so, great. Stop reading and get to work. But if you’re like I was, you want the light at the end of the tunnel to at least be visible. It’s hard to imagine three years from now in enough detail to actually get motivated. After I quit my job, I started listening to podcasts, and pretty soon, I stumbled on the idea of starting an internet business. The experts made it sound so easy, like I could just put in some hard work for a few months and coast out the rest of my life cashing big checks and working just a few hours per week. “Life was going to be amazing!” I thought to myself. “Why isn’t everybody doing this!?” So I got started, and I worked hard. REALLY HARD. I started learning how to build a website, wrote dozens of blog posts, and worked on my business with every free second I had. Luckily, I didn’t put all of my eggs into that basket and started another business at the same time (more on that later) because all that hard work didn’t pay off until four years after getting started. It’s funny, too, because every year, I’d tell my girlfriend, “it’s going to be so nice next year when this work starts paying off.” Then the next year would come, and success would still be just around the corner. Are there people who do it faster? Yep. But they’re the exceptions. The outliers. The ones in the right place at the right time in the right niche with the right mentors. That’s called luck, my friend. You can’t replicate luck. The truth is that it takes a LOT of time, effort, dedication, failure, and learning to create passive income. Much more than you’ll be lead to believe. Despite what the guru online says about his “new” strategy for growing businesses fast, making real money is not easy. Is it worth it? Hell yes, it is. But if you’re looking to quit your job anytime soon, there are much faster and easier paths. Here’s how to quit your job in the next six months OK, so starting a business with a new, innovative idea is a bad choice. The odds of success are dismal. And, trying to aim for the fences with passive income isn’t ideal either. The odds are better, but it takes way too long. We need something faster. Something with better odds. What if I told you there was a low-cost, low-risk, fast, and nearly guaranteed way to build a business that frees you from your job within this year? There is, and it’s a straightforward concept…drumroll, please… …Start offering a service and charge money for it! That’s it! It doesn’t really matter what service either, as long as it pays well. You could build websites for small businesses. You could do wedding photography, video editing, manage social media, or even build excel spreadsheets if that’s what you’re good at. Check out this guy. He drives around and shovels dog poop and makes a six-figure income doing it! It’s not glamorous, but at least he has his freedom. Personally, I started a handyman business to replace my income (thus the reason for the name of this website). It wasn’t glamorous. But it was fun, and engaging, and it taught me many of the business skills I still use today. Plus, it gave me my freedom fast. Why starting a service business is the fastest, easiest, and most reliable way to replace your income First, let me make something clear. I’m not recommending you try to invent some new service. That would give you a low probability of success. I’m talking about taking a common service that there are probably hundreds of competitors for and offering that service. The less sexy the service, the better. What, there are already 25 wedding photographers in your area? Great! That means there is demand. When I started my handyman business, do you think I was among the first? Not even close. There were dozens, if not hundreds, in my city, but my business flourished anyway because there was plenty of demand. Now, you’d think that if there were so much competition, it would be hard to compete. But, here’s a little secret about the service industry…most service providers suck! The good ones are busy all the time, and the ones with availability are either just getting started or are terrible to work with. Or, they simply aren’t motivated to advertise and grow. That leaves a lot of opportunities for any driven newcomer to succeed (that’s you). You don’t need any skills Ok, we both know that’s not completely true. But you need a lot less skill than you think you do. You don’t have to be a world-class photographer to get paid to take pictures. All you need is a good camera and the ability to use it. If you bought a camera today and spent the next two weeks watching YouTube videos about photography and then practicing what you learned, you’d be more than good enough to charge for your services. Then, over time you’d get better, your service would improve, and you’d be able to make more money in less time. Service businesses are low risk Offering a service is about as low-risk as it gets. You don’t need employees. You can work from your home, your office, or wherever makes sense. And, it costs almost nothing to start. You will need some tools, of course. But my guess is you already have some of the tools necessary for whatever service you have in mind. But here’s the best part. If it doesn’t work and nobody hires you (which is unlikely if you do it right), just try something else! The only thing you lost was some time, and hopefully no more than a week or two. Cash flow comes quickly After leaving my job, I actually started two businesses simultaneously. One was HandymanStartup.com (this website), and the other was my actual handyman business. Within weeks of starting my handyman business, I already had a $900 job. Within six months, I generated over $5,000 per month in revenue doing basic handyman services and almost replaced my old income! Keep in mind this was my first business, and I made a lot of mistakes. Had I known what I do now, that would have happened much sooner. Now compare that to starting an online business. It took me exactly three years and two months to break $5k in a single month in my online business. Then, it took me another two years before that happened consistently. So it took me over five years to hit the revenue that my handyman business was generating in a matter of six months. Would you rather wait six months or five years to quit your job? Once you quit your job, you can use your newfound free time to go after bigger ideas Maybe you want to have a bigger impact on the world. I’m not saying to run a service business for the rest of your life. I’m just saying that it’s a really effective 9-5 escape tool. The beautiful thing about running a service business is you can work as much or as little as you want (assuming you have your marketing in order.) You can also increase your rates and find ways to make more money in fewer hours. As you increase your rates, you are able to make more money in less time. That allows you to work fewer hours and gives you more time to invest toward other dreams. After being in business for over a year as a handyman, I started scheduling jobs more efficiently, and I increased my rates. Because of this, I was able to generate a full-time income while working just three days per week. That gave me the time to learn new things, grow this business, or just go snowboarding and camping more often. Maybe you’d want to use that extra time to play your luck at riskier business opportunities. Maybe you’d want to travel the world. Maybe you’d just want more time with your kids. Whatever it is, you first need to take control of your time because you’ll never get that kind of freedom as an employee. This isn’t supposed to be glamorous, it’s supposed to work The ideas I share in this article aren’t sexy. I’m not promising you fancy cars, rubbing shoulders with celebrities, or even a beach house. And for some, that’s a deal-breaker. We all want fast, easy money. We all love the idea of sipping drinks on a beach while the chips keep stacking in the bank. That’s why all of the so-called “experts” promise these things. They know that’s what gets you to buy their stuff. But if you’re serious about quitting your job anytime soon, avoid that stuff like the plague and start a proven business model. In just a few weeks, you’ll be generating a healthy side income of $1,000 or more. A few months later and you’ll be faced with a much better problem to have – how to tell your boss you quit. Then, once you have your freedom and some actual business skills, you can go after bigger dreams. Or, you can just sleep in for a while.  Now, listen to the podcast version of this article, which includes extra content and example businesses. Listen right here or on your favorite podcast app! HS025 – The fastest and most reliable way to escape your day job The post Quit Your Job In 6 Months Or Less – The Ultimate 9-5 Escape Plan appeared first on Handyman Startup.

I used to wake up every day with one single question on my mind, “how many days are there before the weekend?” I was counting down the days because I, like millions of people, hated my 9-5 job. And this wasn’t just a mild dislike of my job either. I really, truly, deep down, despised almost everything about it. Waking up each day and realizing that I had to go to work was torture. I felt my stomach drop every Sunday when I realized Monday was soon to be here. But since I’m not a trust fund baby, I needed the money. I also wasn’t aware of a better option. So I stuck it out. That was in 2011. Today is a completely different story. Now I like what I do most of the time. I get to enjoy the freedom and free time that comes with owning a profitable business. I wake up without an alarm clock and often take time off in the middle of the week to go mountain biking. I work fewer hours, enjoy that work more, and I make more money. But in order to get to this point, I had to learn a few lessons. A lot, actually. It turns out that many of my assumptions about starting and running a business were completely wrong. One of my biggest lessons came from having to wade through all of the get-rich-quick schemes. Everywhere I looked, someone was revealing a “secret” strategy for making easy money online or generating passive income with real estate. The people sharing this information made it look like they are living the dream because they figured out some secret that you don’t know and that once you pay for them to reveal that secret, money will fall into your lap. SPOILER ALERT: If it were that easy, everybody would do it! But thankfully, there is a reliable way to escape your day job. And in this article, my goal is to help you see through that bullshit, so you can actually start a business and eventually quit your job, and do it all without risking your savings or overworking yourself. Let’s start with a few of the major success-killing mistakes to avoid so you can one day give your boss the finger. <h2>Avoid “Winner-Take-All” Businesses</h2> I’ve been reading Nassim Taleb a lot lately, which seems to be helping me avoid stupid mistakes in life. That seems to be essential to succeed in business these days. It’s not about being smart. It’s about NOT being what Taleb calls a “sucker.” And one of the biggest sucker moves is to start a business where the odds are stacked against you so heavily that you only have a sliver of a chance to succeed. So what is “winner-take-all”? It’s characterized by any business or event where only a small percentage of people enjoy the lion’s share of the rewards while everyone else goes home empty-handed. Take the book publishing industry, for example. A few dozen authors sell millions of books, while 98% of books and authors only sell a few hundred copies (if any at all). Or take a look at evolution. One species wins the genetic lottery, and the rest vanish forever. Some historians believe that we actually co-existed with Neanderthals at one point until we humans decided we didn’t want to share our planet anymore. Now there are billions of us, and none of them. Or look at the tech industry, where you have a few companies that dominate the market. Take Amazon, for example. It’s long been, by far, the largest bookseller on earth. Now, it continues to <a href="https://www.cbinsights.com/research/report/amazon-disruption-industries/" rel="noopener nofollow" target="_blank">disrupt entire industries</a> and accounted for <a href="https://www.repricerexpress.com/amazon-statistics/" rel="noopener nofollow" target="_blank">49% of all e-commerce spending in 2019</a>. Amazon is a giant among ants, and while it does have some competitors, they are few and far between. The same phenomenon applies to anything where a small advantage leads to disproportionate results. And more often than not, that advantage has to do with luck and circumstance. No matter how skilled you are, how prepared you are, or how hard you work, you still need a healthy dose of luck to win in an industry that is “winner-take-all.” Sure, Jeff Bezos is a smart dude, but plenty of others are just as smart and creative. They just didn’t win the business lottery. Winners like Jeff get to buy giant yachts while other smart, hard-working, and very talented losers go get a job. So you want to start an internet business? Create the next big app? Or, get a patent on some great idea you have for an invention? I wish you the best of luck. But if you want to guarantee your freedom in the next year, those are all terrible choices. Sure, you may have recently heard a story of another guy getting rich from the app store. But what about the other ten thousand people who spent thirty grand to have their app developed and didn’t even make their money back? You didn’t hear about them because they’re not writing blog posts about how to get rich creating apps. They’re stuck in a day job trying to piece together their confidence. Unfortunately, it’s hard to see things clearly when you only hear about the winners. So if you want to escape your day job anytime soon, don’t be a sucker and play a game where the odds are stacked in your favor. <h2>Avoid “Passive Income” Opportunities</h2> There’s no shortage of experts out there teaching you how to make easy money, whether that is through real estate, YouTube, drop shipping, or selling niche products on Amazon. These can all be amazing ways to create freedom in your life. Even though there are some “winner-take-all” effects in these businesses, the odds are actually pretty good if you stick it out long enough. But there’s the problem! You must stick with it for long enough. How long is long enough? It’s impossible to say. But, you should ask yourself… Are you willing to work your day job for (at least) 3-5 more years while spending all of your nights and weekends building a passive income business? If so, great. Stop reading and get to work. But if you’re like I was, you want the light at the end of the tunnel to at least be visible. It’s hard to imagine three years from now in enough detail to actually get motivated. After I quit my job, I started listening to podcasts, and pretty soon, I stumbled on the idea of starting an internet business. The experts made it sound so easy, like I could just put in some hard work for a few months and coast out the rest of my life cashing big checks and working just a few hours per week. “Life was going to be amazing!” I thought to myself. “Why isn’t everybody doing this!?” So I got started, and I worked hard. REALLY HARD. I started learning <a href="https://www.handymanstartup.com/how-to-build-a-website/" rel="nofollow" target="_blank">how to build a website</a>, wrote dozens of blog posts, and worked on my business with every free second I had. Luckily, I didn’t put all of my eggs into that basket and started another business at the same time (more on that later) because all that hard work didn’t pay off until four years after getting started. It’s funny, too, because every year, I’d tell my girlfriend, “it’s going to be so nice next year when this work starts paying off.” Then the next year would come, and success would still be just around the corner. Are there people who do it faster? Yep. But they’re the exceptions. The outliers. The ones in the right place at the right time in the right niche with the right mentors. That’s called luck, my friend. You can’t replicate luck. The truth is that it takes a LOT of time, effort, dedication, failure, and learning to create passive income. Much more than you’ll be lead to believe. Despite what the guru online says about his “new” strategy for growing businesses fast, making real money is not easy. Is it worth it? Hell yes, it is. But if you’re looking to quit your job anytime soon, there are much faster and easier paths. <h2>Here’s how to quit your job in the next six months</h2> OK, so starting a business with a new, innovative idea is a bad choice. The odds of success are dismal. And, trying to aim for the fences with passive income isn’t ideal either. The odds are better, but it takes way too long. We need something faster. Something with better odds. What if I told you there was a low-cost, low-risk, fast, and nearly guaranteed way to build a business that frees you from your job within this year? There is, and it’s a straightforward concept…drumroll, please… …Start offering a service and charge money for it! That’s it! It doesn’t really matter what service either, as long as it pays well. You could build websites for small businesses. You could do wedding photography, video editing, manage social media, or even build excel spreadsheets if that’s what you’re good at. Check out this guy. He drives around and shovels dog poop and makes a six-figure income doing it! It’s not glamorous, but at least he has his freedom. Personally, I started a <a href="https://www.handymanstartup.com/landing/start-handyman-business-course/" rel="nofollow" target="_blank">handyman business</a> to replace my income (thus the reason for the name of this website). It wasn’t glamorous. But it was fun, and engaging, and it taught me many of the business skills I still use today. Plus, it gave me my freedom fast. <h2>Why starting a service business is the fastest, easiest, and most reliable way to replace your income</h2> First, let me make something clear. I’m not recommending you try to invent some new service. That would give you a low probability of success. I’m talking about taking a common service that there are probably hundreds of competitors for and offering that service. The less sexy the service, the better. What, there are already 25 wedding photographers in your area? Great! That means there is demand. When I started my handyman business, do you think I was among the first? Not even close. There were dozens, if not hundreds, in my city, but my business flourished anyway because there was plenty of demand. Now, you’d think that if there were so much competition, it would be hard to compete. But, here’s a little secret about the service industry…<a href="https://www.handymanstartup.com/neil-gaiman-keeping-customers/" rel="nofollow" target="_blank">most service providers suck</a>! The good ones are busy all the time, and the ones with availability are either just getting started or are terrible to work with. Or, they simply aren’t motivated to advertise and grow. That leaves a lot of opportunities for any driven newcomer to succeed (that’s you). <h3>You don’t need any skills</h3> Ok, we both know that’s not completely true. But you need a lot less skill than you think you do. You don’t have to be a world-class photographer to get paid to take pictures. All you need is a good camera and the ability to use it. If you bought a camera today and spent the next two weeks watching YouTube videos about photography and then practicing what you learned, you’d be more than good enough to charge for your services. Then, over time you’d get better, your service would improve, and you’d be able to make more money in less time. <h3>Service businesses are low risk</h3> Offering a service is about <a href="https://www.handymanstartup.com/handyman-business-risk/" rel="nofollow" target="_blank">as low-risk as it gets</a>. You don’t need employees. You can work from your home, your office, or wherever makes sense. And, it costs <a href="https://www.handymanstartup.com/how-much-does-it-cost-to-start-up-a-handyman-business/" rel="nofollow" target="_blank">almost nothing to start</a>. You will need some tools, of course. But my guess is you already have some of the tools necessary for whatever service you have in mind. But here’s the best part. If it doesn’t work and nobody hires you (which is unlikely if you do it right), just try something else! The only thing you lost was some time, and hopefully no more than a week or two. <h3>Cash flow comes quickly</h3> After leaving my job, I actually started two businesses simultaneously. One was <a href="http://HandymanStartup.com" rel="nofollow" target="_blank">HandymanStartup.com</a> (this website), and the other was my actual handyman business. Within weeks of starting my handyman business,<a href="https://www.handymanstartup.com/my-monthly-report-december-2011/" rel="nofollow" target="_blank"> I already had a $900 job</a>. Within six months, I generated over $5,000 per month in revenue doing basic handyman services and almost replaced my old income! Keep in mind this was my first business, and I made a lot of mistakes. Had I known what I do now, that would have happened much sooner. Now compare that to starting an online business. It took me exactly three years and two months to break $5k in a single month in my online business. Then, it took me another two years before that happened consistently. So it took me over five years to hit the revenue that my handyman business was generating in a matter of six months. Would you rather wait six months or five years to quit your job? <h2>Once you quit your job, you can use your newfound free time to go after bigger ideas</h2> Maybe you want to have a bigger impact on the world. I’m not saying to run a service business for the rest of your life. I’m just saying that it’s a really effective 9-5 escape tool. The beautiful thing about running a service business is you can work as much or as little as you want (assuming you have your marketing in order.) You can also increase your rates and find ways to<a href="https://www.handymanstartup.com/landing/100k-handyman-pricing/" rel="nofollow" target="_blank"> make more money in fewer hours</a>. As you increase your rates, you are able to make more money in less time. That allows you to work fewer hours and gives you more time to invest toward other dreams. After being in business for over a year as a handyman, I started scheduling jobs more efficiently, and I increased my rates. Because of this, I was able to generate a full-time income while working just three days per week. That gave me the time to learn new things, grow this business, or just go snowboarding and camping more often. Maybe you’d want to use that extra time to play your luck at riskier business opportunities. Maybe you’d want to travel the world. Maybe you’d just want more time with your kids. Whatever it is, you first need to take control of your time because you’ll never get that kind of freedom as an employee. <h2>This isn’t supposed to be glamorous, it’s supposed to work</h2> The ideas I share in this article aren’t sexy. I’m not promising you fancy cars, rubbing shoulders with celebrities, or even a beach house. And for some, that’s a deal-breaker. We all want fast, easy money. We all love the idea of sipping drinks on a beach while the chips keep stacking in the bank. That’s why all of the so-called “experts” promise these things. They know that’s what gets you to buy their stuff. But if you’re serious about quitting your job anytime soon, avoid that stuff like the plague and start a proven business model. In just a few weeks, you’ll be generating a healthy <a href="https://www.handymanstartup.com/make-1000-dollars-in-5-hours-per-week-with-part-time-handyman-business/" rel="nofollow" target="_blank">side income of $1,000 or more</a>. A few months later and you’ll be faced with a much better problem to have – how to tell your boss you quit. Then, once you have your freedom and some actual business skills, you can go after bigger dreams. Or, you can just sleep in for a while. Now, listen to the podcast version of this article, which includes extra content and example businesses. Listen right here or on your favorite podcast app! HS025 – The fastest and most reliable way to escape your day job The post <a href="https://www.handymanstartup.com/plan-replace-income-quit-job/" rel="nofollow" target="_blank">Quit Your Job In 6 Months Or Less – The Ultimate 9-5 Escape Plan</a> appeared first on <a href="https://www.handymanstartup.com" rel="nofollow" target="_blank">Handyman Startup</a>.

Quit Your Job In 6 Months Or Less – The Ultimate 9-5 Escape Plan

“I am an old man and have known a great many troubles, but most of them never happened.” – Unknown Fear nearly stopped me from starting my business and made me want to give up along the journey several times. One of my biggest fears was related to fixing someone else’s property. I had the confidence to fix just about anything in my own home. Yet, the idea of fixing another person’s home (and charging them money to do it) was a completely different animal. It was a scary thought. What if I made a mistake or broke something I couldn’t fix? What if they asked me to do something and I didn’t know how? What would I say? What if I wasn’t fast enough or the level of quality wasn’t high enough? What if I got over my head on a project? I know I’m not alone with these fears because I’ve received dozens of e-mails from other aspiring handymen who are concerned with the same scenarios. That’s why in this article, I’m breaking down the most common fears and providing you with the strategies and perspectives to overcome them so you can start building a thriving business. Fear #1 – Looking stupid What if a customer asks you to do something and you don’t know how to do it? What if it’s something you are “supposed” to know as a handyman? Solution 1 – Understand that you don’t need to know everything. I know I didn’t when I first started, and I still don’t a full decade later. In fact, I gained most of my home repair experience while growing my handyman business. And I can still remember one of the first quotes I gave to a customer. The customer’s six-foot wood fence had blown over in the wind, and a fence post was broken. You can say I was NOT a fence repair expert. I had never fixed a fence before. I had never built a fence before. I didn’t even know fence posts were set in concrete. So here’s what I did. First, I told the customer I’d be happy to come out and provide a quote. She said, “OK.” When I got there, I looked over the situation thoroughly, took some pictures and measurements, let her know that I’d get back to her with a quote, and went home. Then I spent the next few hours researching how to fix a fence post. I watched YouTube videos, found the materials to repair the fence, read contractor forums, and learned what tools I’d need to get the job done. I soon realized that I’d done more challenging projects at home, and it wasn’t rocket science. I’d have to buy a few tools and work with materials I’d never worked with before, but I was confident I could handle it. So, I created an estimate. I estimated how long it would take me, how much materials would cost, and called the customer back with a quote. She said yes, and I landed my first real job! Of course, the job ended up taking about twice as long as I expected, and I ran into a few unexpected challenges, but I learned a skill that would make me a lot of money in the following years. I also gained confidence. This wasn’t the only time I learned a new skill on the job. I did this same process dozens of times with other customers. I’d get called for a quote, go out and inspect the job thoroughly, and head back to my home office to research the process – teaching myself home repair through YouTube videos. I always had some fear to contend with, but a bit of research and effort would usually put my mind at ease. Solution 2: Embrace the words “I don’t know.” One of the surest ways of looking stupid is to pretend you know how to do something when you don’t. So don’t do that. Instead, just say you don’t know if you don’t know. Honesty can be freeing. And I’ve noticed that saying “I don’t know” gains trust from customers. That’s because most people are used to dealing with businesses who say or do anything to get our money. When you admit your ignorance in a way that potentially costs you the job, it signals they can trust what you have to say in the future. Now, the next time you answer one of their questions, they’ll trust that you aren’t just blowing smoke. Customers don’t expect an all-knowing handyman. They just want to deal with somebody they can trust, and when they find that, they will hire you again and again. Many repeat customers know I’m not the foremost expert with home repairs, but they still prefer to hire me because they trust me. Fear #2 – Making a mistake What if you make a mistake on a repair or break something you can’t fix? Solution – Stay in your lane As long as you aren’t taking on jobs that are over your head or outside of your legal abilities, these situations will be rare. But, let’s say you do make a mistake on the job (like when I dropped a customer’s brand new 60″ TV on the ground and broke it). It’s not the end of the world. The police don’t show up and make you shut down your business and throw you in jail. In fact, there are only two people who will notice: you and the customer. Everybody makes mistakes. Plus, most mistakes are minor and will only take some time to make them right. And as long as you are willing to fix your mistakes and take responsibility for them, you’ll find customers can be pretty forgiving. Suppose you make a BIG mistake. Well, that’s why you should carry some liability insurance. Most likely scenario: your profits take a minor hit, and that one customer never hires you again. Sure, that’s not ideal, but it’s not the end of your business either. Fear #3 – Getting in over your head on a project What if you take on a project that ends up being much harder than you expected, and you can’t handle it? Solution #1 – Never commit or give a price on the spot. Never commit to a project without thinking it through. If a customer puts you on the spot, let them know you’ll get back to them, then go sit in your truck and think it through. You always have the final say over which jobs you take on. That simple fact should eliminate some fear for you. If you do commit to a project that you can’t handle (which will probably never happen), kill the project as soon as you realize it’s over your head. Explain to the customer that you made a mistake or ran into an unexpected hiccup and can’t finish. As long as you are honest and don’t take advantage of customers, they will understand. Solution #2 – Stick with small jobs It’s important to start small with handyman services because it will allow you to get the hang of quoting jobs. You’ll quickly learn that things always take longer than you expect and other valuable lessons. You’ll also get a feel for your work capacity and allow your body to acclimate to working with your hands all day. Going from a desk job to working 8-10 hours per day remodeling kitchens will be a shock to your body. So instead, do small repairs. There is plenty of demand for them. There’s nothing wrong with starting small then slowly upgrading to bigger projects if you want to. Or you can keep it simple and stick with small repairs long-term. Fear #4 – Disappointing your customers If you had an unforgiving parent or guardian that made you pay emotionally for disappointing them, you might have an irrational fear of disappointing people. Or, if you care what people think of you in general (which is pretty much everyone), then this fear may get in your way. On one side of the coin, this fear is an asset. The fear of disappointing your customers will motivate you to work hard and over-deliver. You may pay extra attention to detail and do a better job than other pros. You may answer your phone more often and go above and beyond to make your customers happy. Many homeowners are willing to pay a premium for quality and service. However, this fear may also lead you to allow people to take advantage of you. In your effort to avoid disappointing people, you will likely undercharge for your time, be overly accommodating with your schedule, and even take on jobs you don’t enjoy. It isn’t easy to set healthy boundaries when putting others’ needs ahead of your own. Solution – ?? Honestly, I’m not sure there is a great solution to this fear. It’s something that many of us need to get better at. Some kind of therapy is likely the answer if this fear can be eliminated at all. However, I can say that many of my students find my course $100K Handyman Pricing helpful for this because it provides unique perspectives and tools to avoid undervaluing your time. So, you may still have this fear, but it won’t get in your way as much. Fear #5 – Your Business Failing Nobody wants to dive into a business only to waste time, lose money, and watch it fail. How could you not be scared when you read stats like only half of all small businesses fail within the first five years. But, when it comes to starting a handyman business, that statistic shouldn’t scare you. Here’s why. The handyman business is a proven business model. It’s proven to work in nearly every city in the U.S. and every country in the world. There are thousands of pro handymen out there making six-figure incomes doing basic home repairs. In fact, enough people are doing this successfully that there are even some reliable statistics about how much you can expect to make as a pro handyman. As I describe in detail in my article “Why starting a handyman business isn’t risky,” the risk of failing as a self-employed handyman is very low. If you are worried about your business failing, I recommend reading that article. Solution – Start your business on the side. To completely eliminate this fear, get started on the side while you maintain your current income. The handyman business is the perfect side hustle. You can offer services after work, on the weekends, or whenever you are available. You can even offer services just one day a week to get started, then slowly build up your clientele until you feel more comfortable diving in full-time. Your customers don’t care or even need to know how many days per week you work, either. For all they know, the rest of your week is booked with other jobs. Starting part-time is a perfect way to test the waters before going full-time and risking a big failure. Here’s an article on how to test the handyman business part-time, so you know it can deliver the profits you need to sustain your lifestyle before taking significant risks. Fear #6 – Imposter Syndrome Imposter syndrome is when you doubt your abilities and feel like a fraud, even when you are qualified and capable. It’s often what drives many fears I’ve already listed above. You may have imposter syndrome if you find yourself asking this question: “What if I’m not fast enough while providing services, or the level of quality I provide isn’t high enough?” Many new pros experience imposter syndrome. I certainly did when I got started, and I even struggle with it to this day (usually when posting content online). In addition to stopping you from getting started, feeling a sense of imposter syndrome can lead you to undercharge for your services. Since perfectionism is often associated with imposter syndrome, it can also slow you down because you are worried about getting everything perfect. You’ll tend to invest unnecessary time and effort into details that don’t matter. Solution #1 – Understand that the competition isn’t as good as you think. Realizing this was a massive breakthrough for me. When I first got started, I always thought that the competition was so much better than me. I assumed they knew everything, worked more efficiently, rarely made mistakes, had sophisticated tools, always answered the phone, and gave better service. After working for a few customers, I quickly realized this wasn’t the case. Customers were constantly telling me how nice it was that I simply showed up on time, explaining that other handymen they hired didn’t even show up. The bar is set pretty low when it comes to home service pros. Sure, I wasn’t the fastest, most skilled, or most knowledgable handyman. Still, by simply caring, being reliable, and doing my best, I eventually charged a premium and maintained a full schedule. If you’re still unsure, find out for yourself. Hire a couple of handymen in your area so you can experience being the customer. It might be the single best thing you can do to boost your confidence. Solution #2 – Focus on your strengths I had imposter syndrome for a good reason. Compared to most handymen, I had minimal experience. However, I knew I had some valuable strengths to make up for my inexperience. For example, due to my engineering background, I was an excellent problem solver. I solved every home repair I had faced in the past as long as I took the time to try. Additionally, I knew I was good at working with my hands. Whether in middle school woodshop, art class, or while I worked at Circuit City installing car audio, I always excelled when It came to building, drawing, fixing, or creating. And lastly, I knew I wasn’t afraid to get dirty and work hard. I had painted the exterior of my house by hand, installed a vapor barrier in my crawlspace, and even installed granite countertops. So, even though I had a lot to learn about home repairs, I felt that my strengths could compensate for what I lacked in knowledge and experience. It turns out I was right. Maybe your strengths are different than mine, and that’s OK. Whatever they are, try to focus on them whenever this fear creeps up. How to take action in the face of fear You may never conquer your fear, but you can learn to act anyway. Maybe your goal is to start a business, and that seems overwhelming to you right now. Instead of letting fear and overwhelm stop you, take one small step at a time doing something that feels safe. Maybe that is coming up with a business name, figuring out how much to charge, or even investing in one of my courses that will walk you through getting started step-by-step. You don’t have to quit your job immediately and commit the next ten years to your business to make progress. But you do have to do something. Don’t focus on how big the steps you are taking are. Just take actions that are comfortable for you. You’ll be surprised what you can accomplish by this time next year. Conclusion Starting a business can bring up all kinds of fear and doubts, regardless of how capable you may be. In some cases, all it takes is a fresh perspective to help you overcome those fears. In other cases, you may never conquer your fears. However, if you want to start a handyman business, you must take action and get to work. That could mean diving in full-time, or it could mean taking one small step today. So, I’ll end this article with a question that you find helpful. What is one small step you can take today that will move you just a tiny bit closer to your business dreams? The post How to Overcome The Fears of Starting a Business appeared first on Handyman Startup.

<blockquote>“I am an old man and have known a great many troubles, but most of them never happened.” – Unknown</blockquote> Fear nearly stopped me from starting my business and made me want to give up along the journey several times. One of my biggest fears was related to fixing someone else’s property. I had the confidence to fix just about anything in my own home. Yet, the idea of fixing another person’s home (and charging them money to do it) was a completely different animal. It was a scary thought. What if I made a mistake or broke something I couldn’t fix? What if they asked me to do something and I didn’t know how? What would I say? What if I wasn’t fast enough or the level of quality wasn’t high enough? What if I got over my head on a project? I know I’m not alone with these fears because I’ve received dozens of e-mails from other aspiring handymen who are concerned with the same scenarios. That’s why in this article, I’m breaking down the most common fears and providing you with the strategies and perspectives to overcome them so you can start building a thriving business. <h2>Fear #1 – Looking stupid</h2> What if a customer asks you to do something and you don’t know how to do it? What if it’s something you are “supposed” to know as a handyman? Solution 1 – Understand that you don’t need to know everything. I know I didn’t when I first started, and I still don’t a full decade later. In fact, I gained most of my home repair experience while growing my handyman business. And I can still remember one of the first quotes I gave to a customer. The customer’s six-foot wood fence had blown over in the wind, and a fence post was broken. You can say I was NOT a fence repair expert. I had never fixed a fence before. I had never built a fence before. I didn’t even know fence posts were set in concrete. So here’s what I did. First, I told the customer I’d be happy to come out and provide a quote. She said, “OK.” When I got there, I looked over the situation thoroughly, took some pictures and measurements, let her know that I’d get back to her with a quote, and went home. Then I spent the next few hours researching <a href="https://www.diywithdan.com/wood-fence-post-repair-ez-mender/" rel="nofollow" target="_blank">how to fix a fence post</a>. I watched YouTube videos, found the materials to repair the fence, read contractor forums, and learned what tools I’d need to get the job done. I soon realized that I’d done more challenging projects at home, and it wasn’t rocket science. I’d have to buy a few tools and work with materials I’d never worked with before, but I was confident I could handle it. So, I created an <a href="https://www.handymanstartup.com/handyman-estimate/" rel="nofollow" target="_blank">estimate</a>. I estimated how long it would take me, how much materials would cost, and called the customer back with a quote. She said yes, and I landed my first real job! Of course, the job ended up taking about twice as long as I expected, and I ran into a few unexpected challenges, but I learned a skill that would make me a lot of money in the following years. I also gained confidence. This wasn’t the only time I learned a new skill on the job. I did this same process dozens of times with other customers. I’d get called for a quote, go out and inspect the job thoroughly, and head back to my home office to research the process – teaching myself home repair through YouTube videos. I always had some fear to contend with, but a bit of research and effort would usually put my mind at ease. <h3>Solution 2: Embrace the words “I don’t know.”</h3> One of the surest ways of looking stupid is to pretend you know how to do something when you don’t. So don’t do that. Instead, just say you don’t know if you don’t know. Honesty can be freeing. And I’ve noticed that saying “I don’t know” gains trust from customers. That’s because most people are used to dealing with businesses who say or do anything to get our money. When you admit your ignorance in a way that potentially costs you the job, it signals they can trust what you have to say in the future. Now, the next time you answer one of their questions, they’ll trust that you aren’t just blowing smoke. Customers don’t expect an all-knowing handyman. They just want to deal with somebody they can trust, and when they find that, they will hire you again and again. Many repeat customers know I’m not the foremost expert with home repairs, but they still prefer to hire me because they trust me. <h2>Fear #2 – Making a mistake</h2> What if you make a mistake on a repair or break something you can’t fix? <h3>Solution – Stay in your lane</h3> As long as you aren’t taking on jobs that are over your head or outside of your legal abilities, these situations will be rare. But, let’s say you do make a mistake on the job (like when I dropped a customer’s brand new 60″ TV on the ground and broke it). It’s not the end of the world. The police don’t show up and make you shut down your business and throw you in jail. In fact, there are only two people who will notice: you and the customer. Everybody makes mistakes. Plus, most mistakes are minor and will only take some time to make them right. And as long as you are willing to fix your mistakes and take responsibility for them, you’ll find customers can be pretty forgiving. Suppose you make a BIG mistake. Well, that’s why you should carry some liability <a href="https://www.handymanstartup.com/handyman-insurance/" rel="nofollow" target="_blank">insurance</a>. Most likely scenario: your profits take a minor hit, and that one customer never hires you again. Sure, that’s not ideal, but it’s not the end of your business either. <h2>Fear #3 – Getting in over your head on a project</h2> What if you take on a project that ends up being much harder than you expected, and you can’t handle it? <h3>Solution #1 – Never commit or give a price on the spot.</h3> Never commit to a project without thinking it through. If a customer puts you on the spot, let them know you’ll get back to them, then go sit in your truck and think it through. You always have the final say over which jobs you take on. That simple fact should eliminate some fear for you. If you do commit to a project that you can’t handle (which will probably never happen), kill the project as soon as you realize it’s over your head. Explain to the customer that you made a mistake or ran into an unexpected hiccup and can’t finish. As long as you are honest and don’t take advantage of customers, they will understand. <h3>Solution #2 – Stick with small jobs</h3> It’s important to start small with handyman services because it will allow you to get the hang of <a href="https://www.handymanstartup.com/quoting-tips-how-to-land-more-jobs-without-dropping-your-prices/" rel="nofollow" target="_blank">quoting jobs</a>. You’ll quickly learn that things always take longer than you expect and other valuable lessons. You’ll also get a feel for your work capacity and allow your body to acclimate to working with your hands all day. Going from a desk job to working 8-10 hours per day remodeling kitchens will be a shock to your body. So instead, do small repairs. There is plenty of demand for them. There’s nothing wrong with starting small then slowly upgrading to bigger projects if you want to. Or you can keep it simple and stick with small repairs long-term. <h2>Fear #4 – Disappointing your customers</h2> If you had an unforgiving parent or guardian that made you pay emotionally for disappointing them, you might have an irrational fear of disappointing people. Or, if you care what people think of you in general (which is pretty much everyone), then this fear may get in your way. On one side of the coin, this fear is an asset. The fear of disappointing your customers will motivate you to work hard and over-deliver. You may pay extra attention to detail and do a better job than other pros. You may answer your phone more often and go above and beyond to make your customers happy. Many homeowners are willing to pay a premium for quality and service. However, this fear may also lead you to allow people to take advantage of you. In your effort to avoid disappointing people, you will likely undercharge for your time, be overly accommodating with your schedule, and even take on jobs you don’t enjoy. It isn’t easy to set healthy boundaries when putting others’ needs ahead of your own. <h3>Solution – ??</h3> Honestly, I’m not sure there is a great solution to this fear. It’s something that many of us need to get better at. Some kind of therapy is likely the answer if this fear can be eliminated at all. However, I can say that many of my students find my course <a href="https://www.handymanstartup.com/landing/100k-handyman-pricing/" rel="nofollow" target="_blank">$100K Handyman Pricing</a> helpful for this because it provides unique perspectives and tools to avoid undervaluing your time. So, you may still have this fear, but it won’t get in your way as much. <h2>Fear #5 – Your Business Failing</h2> Nobody wants to dive into a business only to waste time, lose money, and watch it fail. How could you not be scared when you read stats like only <a href="https://cdn.advocacy.sba.gov/wp-content/uploads/2021/12/06095731/Small-Business-FAQ-Revised-December-2021.pdf" rel="nofollow" target="_blank">half of all small businesses fail within the first five years</a>. But, when it comes to starting a handyman business, that statistic shouldn’t scare you. Here’s why. The handyman business is a proven business model. It’s proven to work in nearly every city in the U.S. and every country in the world. There are thousands of pro handymen out there making six-figure incomes doing basic home repairs. In fact, enough people are doing this successfully that there are even some reliable statistics about <a href="https://www.handymanstartup.com/how-much-handyman-make/" rel="nofollow" target="_blank">how much you can expect to make as a pro handyman</a>. As I describe in detail in my article “<a href="https://www.handymanstartup.com/handyman-business-risk/" rel="nofollow" target="_blank">Why starting a handyman business isn’t risky</a>,” the risk of failing as a self-employed handyman is very low. If you are worried about your business failing, I recommend reading that article. <h3>Solution – Start your business on the side.</h3> To completely eliminate this fear, get started on the side while you maintain your current income. The handyman business is the perfect side hustle. You can offer services after work, on the weekends, or whenever you are available. You can even offer services just one day a week to get started, then slowly build up your clientele until you feel more comfortable diving in full-time. Your customers don’t care or even need to know how many days per week you work, either. For all they know, the rest of your week is booked with other jobs. Starting part-time is a perfect way to test the waters before going full-time and risking a big failure. Here’s an article on <a href="https://www.handymanstartup.com/make-1000-dollars-in-5-hours-per-week-with-part-time-handyman-business/" rel="nofollow" target="_blank">how to test the handyman business part-time</a>, so you know it can deliver the profits you need to sustain your lifestyle before taking significant risks. <h2>Fear #6 – Imposter Syndrome</h2> Imposter syndrome is when you doubt your abilities and feel like a fraud, even when you are qualified and capable. It’s often what drives many fears I’ve already listed above. You may have imposter syndrome if you find yourself asking this question: “What if I’m not fast enough while providing services, or the level of quality I provide isn’t high enough?” Many new pros experience imposter syndrome. I certainly did when I got started, and I even struggle with it to this day (usually when posting content online). In addition to stopping you from getting started, feeling a sense of imposter syndrome can lead you to undercharge for your services. Since perfectionism is often associated with imposter syndrome, it can also slow you down because you are worried about getting everything perfect. You’ll tend to invest unnecessary time and effort into details that don’t matter. <h3>Solution #1 – Understand that the competition isn’t as good as you think.</h3> Realizing this was a massive breakthrough for me. When I first got started, I always thought that the competition was so much better than me. I assumed they knew everything, worked more efficiently, rarely made mistakes, had sophisticated tools, always answered the phone, and gave better service. After working for a few customers, I quickly realized this wasn’t the case. Customers were constantly telling me how nice it was that I simply showed up on time, explaining that other handymen they hired didn’t even show up. The bar is set pretty low when it comes to home service pros. Sure, I wasn’t the fastest, most skilled, or most knowledgable handyman. Still, by simply caring, being reliable, and doing my best, I eventually charged a premium and maintained a full schedule. If you’re still unsure, find out for yourself. Hire a couple of handymen in your area so you can experience being the customer. It might be the single best thing you can do to boost your confidence. <h3>Solution #2 – Focus on your strengths</h3> I had imposter syndrome for a good reason. Compared to most handymen, I had minimal experience. However, I knew I had some valuable strengths to make up for my inexperience. For example, due to my engineering background, I was an excellent problem solver. I solved every home repair I had faced in the past as long as I took the time to try. Additionally, I knew I was good at working with my hands. Whether in middle school woodshop, art class, or while I worked at Circuit City installing car audio, I always excelled when It came to building, drawing, fixing, or creating. And lastly, I knew I wasn’t afraid to get dirty and work hard. I had painted the exterior of my house by hand, installed a vapor barrier in my crawlspace, and even installed granite countertops. So, even though I had a lot to learn about home repairs, I felt that my strengths could compensate for what I lacked in knowledge and experience. It turns out I was right. Maybe your strengths are different than mine, and that’s OK. Whatever they are, try to focus on them whenever this fear creeps up. <h2>How to take action in the face of fear</h2> You may never conquer your fear, but you can learn to act anyway. Maybe your goal is to start a business, and that seems overwhelming to you right now. Instead of letting fear and overwhelm stop you, take one small step at a time doing something that feels safe. Maybe that is coming up with a business name, figuring out how much to charge, or even investing in one of my courses that will walk you through getting started step-by-step. You don’t have to quit your job immediately and commit the next ten years to your business to make progress. But you do have to do something. Don’t focus on how big the steps you are taking are. Just take actions that are comfortable for you. You’ll be surprised what you can accomplish by this time next year. <h2>Conclusion</h2> Starting a business can bring up all kinds of fear and doubts, regardless of how capable you may be. In some cases, all it takes is a fresh perspective to help you overcome those fears. In other cases, you may never conquer your fears. However, if you want to start a handyman business, you must take action and get to work. That could mean diving in full-time, or it could mean taking one small step today. So, I’ll end this article with a question that you find helpful. What is one small step you can take today that will move you just a tiny bit closer to your business dreams? The post <a href="https://www.handymanstartup.com/fears-starting-your-business/" rel="nofollow" target="_blank">How to Overcome The Fears of Starting a Business</a> appeared first on <a href="https://www.handymanstartup.com" rel="nofollow" target="_blank">Handyman Startup</a>.

How to Overcome The Fears of Starting a Business

Randal DeHart

Need help with your bookkeeping or accounting? Good news! In this episode, I interview Randal DeHart, the leading expert in outsourced construction bookkeeping and accounting services for small construction companies across the USA. And,Randal isn’t just an accountant, he’s also a former plumbing contractor with twenty years of experience. Not only does he understand handyman businesses from a accounting perspective, he understands it from the contractor’s perspective. Randal’s been involved in the construction industry pretty much since he was born as his dad was a contractor. After going to school to become an accountant, he decided, like many of us, that he didn’t want to work in an office. So he changed his direction and set out to become a plumber. After very successfully starting, growing, and selling his plumbing company, he got back into accounting and now does it full time, focusing solely on helping contractors, handyman, and other tradesman grow their businesses through an intelligent and strategic approach. I’m honored to have Randal on the show and I’ve personally gained a lot of highly valuable business knowledge from him. Here’s what we discuss in this episode:  The biggest mistake new handymen make when choosing a business structure and how to avoid it. Randal’s definition of a quality service (it’s more simple than you think.) How focusing on the right target customer (and he shares which ones) took his plumbing company to the next level. Why you should never have your bookkeeper do your taxes. and a whole lot more!  Resources mentioned in the podcast:  Get a free Contractor Services Bookkeeping Guide. Think and Grow Rich by Napolean Hill (affiliate link) $100K Handyman Pricing Guide (Has since been upgraded to an online course called “$100K Handyman Pricing“) Learn how much you’ll save in taxes by filing as an S corp in this article.  To learn more about Randal DeHart:  Listen to his podcast:  Contractor Success Map Visit his website:  FastEasyAccounting.com  Thanks for listening and I hope you enjoyed this podcast!  If you did, and you’d like to hear more, please take a couple of minutes and leave a review on iTunes! The post HS023 – Business And Accounting Advice From Construction Accountant Randal Dehart appeared first on Handyman Startup.

Need help with your bookkeeping or accounting? Good news! In this episode, I interview Randal DeHart, the leading expert in outsourced construction bookkeeping and accounting services for small construction companies across the USA. And,Randal isn’t just an accountant, he’s also a former plumbing contractor with twenty years of experience. Not only does he understand handyman businesses from a accounting perspective, he understands it from the contractor’s perspective. Randal’s been involved in the construction industry pretty much since he was born as his dad was a contractor. After going to school to become an accountant, he decided, like many of us, that he didn’t want to work in an office. So he changed his direction and set out to become a plumber. After very successfully starting, growing, and selling his plumbing company, he got back into accounting and now does it full time, focusing solely on helping contractors, handyman, and other tradesman grow their businesses through an intelligent and strategic approach. I’m honored to have Randal on the show and I’ve personally gained a lot of highly valuable business knowledge from him. Here’s what we discuss in this episode: <ul> <li>The biggest mistake new handymen make when choosing a business structure and how to avoid it.</li> <li>Randal’s definition of a quality service (it’s more simple than you think.)</li> <li>How focusing on the right target customer (and he shares which ones) took his plumbing company to the next level.</li> <li>Why you should never have your bookkeeper do your taxes.</li> <li>and a whole lot more!</li> </ul> Resources mentioned in the podcast: <ul> <li>Get a free <a href="http://www.fasteasyaccounting.com/hs" rel="nofollow" target="_blank">Contractor Services Bookkeeping Guide</a>.</li> <li><a href="http://www.amazon.com/gp/product/1585424331/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=390957&amp;creativeASIN=1585424331&amp;linkCode=as2&amp;tag=handystart-20&amp;linkId=7VF4Z3J4ED2A7XDJ" rel="nofollow" target="_blank">Think and Grow Rich</a> by Napolean Hill (affiliate link)</li> <li>$100K Handyman Pricing Guide (Has since been upgraded to an online course called “<a href="https://www.handymanstartup.com/landing/100k-handyman-pricing/" rel="nofollow" target="_blank">$100K Handyman Pricing</a>“)</li> <li>Learn how much you’ll save in taxes by filing as an S corp in <a href="https://www.handymanstartup.com/s-corp-tax-savings/" rel="nofollow" target="_blank">this article</a>.</li> </ul> To learn more about Randal DeHart: <ul> <li>Listen to his podcast:  <a href="https://itunes.apple.com/us/podcast/contractor-success-map-randal/id882018353" rel="nofollow" target="_blank">Contractor Success Map</a></li> <li>Visit his website:  <a href="http://www.fasteasyaccounting.com" rel="nofollow" target="_blank">FastEasyAccounting.com</a></li> </ul> Thanks for listening and I hope you enjoyed this podcast!  If you did, and you’d like to hear more, please take a couple of minutes and leave a review on iTunes! The post <a href="https://www.handymanstartup.com/hs023-business-and-accounting-advice-from-construction-accountant-randal-dehart/" rel="nofollow" target="_blank">HS023 – Business And Accounting Advice From Construction Accountant Randal Dehart</a> appeared first on <a href="https://www.handymanstartup.com" rel="nofollow" target="_blank">Handyman Startup</a>.

HS023 – Business And Accounting Advice From Construction Accountant Randal Dehart

Justin Terrill

Are you still on the fence with whether or not a handyman business can actually work?  Or, are you hesitant to get started?  If so, you’re going to get inspired by this episode where I share a great interview with brand new Australian handyman business owner, Justin Terrill. This is the first time I’ve had a handyman on the show who is just getting started, and it turned out amazing. Justin started his handyman business only a couple of months ago and is already booked out two weeks in advance while charging a premium for his services.  He was previously a teacher, when he realized that he enjoyed working with his hands much more.  So, he put his skills that he learned from working on a farm to good use and got started with his handyman business in Sydney, Australia. I got in touch with Justin when he contacted me to thank me for helping him get started.  As a member of the Handyman Web Academy (Now called Handyman Marketing Machine) and a reader of this blog, he took action on the knowledge that he learned and has had amazing results. It was inspiring to talk with Justin, and even though he’s just getting started, I learned a lot from him.  Whether you are just getting started or have been in business for a while, Justin’s got some great insights to share. Here’s what we cover in this episode:  The marketing methods Justin used to jumpstart his business. Why customers aren’t just looking for the highest skilled handyman and what they want instead. How a handyman business is surprisingly profitable. Challenges of going from employee to business owner. Talking money with customers and tips for getting more comfortable. The importance of choosing your clients. Simple and effective tips for getting more referrals. The importance of a professional image.  Resources mentioned in the Podcast  The Handyman Web Academy (Has been updated and is now called “Handyman Marketing Machine“) Turn Your Skills Into Profit – Referred to as “the startup guide” in the podcast. Justin’s Website:  Prime Handyman Solutions  Thanks for listening.  I hope you enjoyed this podcast.  If so, please do me a favor and leave a short written review on iTunes.  Also, be sure to subscribe so you don’t miss an episode! The post HS 022 – How to Jumpstart Your Handyman Business – Interview With Brand New Handyman Justin Terrill appeared first on Handyman Startup.

Are you still on the fence with whether or not a handyman business can actually work?  Or, are you hesitant to get started?  If so, you’re going to get inspired by this episode where I share a great interview with brand new Australian handyman business owner, Justin Terrill. This is the first time I’ve had a handyman on the show who is just getting started, and it turned out amazing. Justin started his handyman business only a couple of months ago and is already booked out two weeks in advance while charging a premium for his services.  He was previously a teacher, when he realized that he enjoyed working with his hands much more.  So, he put his skills that he learned from working on a farm to good use and got started with his handyman business in Sydney, Australia. I got in touch with Justin when he contacted me to thank me for helping him get started.  As a member of the Handyman Web Academy (Now called Handyman Marketing Machine) and a reader of this blog, he took action on the knowledge that he learned and has had amazing results. It was inspiring to talk with Justin, and even though he’s just getting started, I learned a lot from him.  Whether you are just getting started or have been in business for a while, Justin’s got some great insights to share. Here’s what we cover in this episode: <ul> <li>The marketing methods Justin used to jumpstart his business.</li> <li>Why customers aren’t just looking for the highest skilled handyman and what they want instead.</li> <li>How a handyman business is surprisingly profitable.</li> <li>Challenges of going from employee to business owner.</li> <li><a href="https://www.handymanstartup.com/tips-for-bidding-handyman-jobs/" rel="nofollow" target="_blank">Talking money with customers</a> and tips for getting more comfortable.</li> <li>The importance of choosing your clients.</li> <li>Simple and effective tips for <a href="https://www.handymanstartup.com/5-tips-for-getting-more-referrals-without-asking-for-them/" rel="nofollow" target="_blank">getting more referrals</a>.</li> <li><a href="https://www.handymanstartup.com/how-to-brand-a-handyman-business/" rel="nofollow" target="_blank">The importance of a professional image</a>.</li> </ul> Resources mentioned in the Podcast <ul> <li>The Handyman Web Academy (Has been updated and is now called “<a href="http://www.handymanmarketingmachine.com" rel="nofollow" target="_blank">Handyman Marketing Machine</a>“)</li> <li><a href="https://www.handymanstartup.com/landing/start-handyman-business-course/" rel="noopener noreferrer nofollow" target="_blank">Turn Your Skills Into Profit</a> – Referred to as “the startup guide” in the podcast.</li> <li>Justin’s Website:  <a href="http://www.primehandymansolutions.com.au/" rel="nofollow" target="_blank">Prime Handyman Solutions</a></li> </ul> Thanks for listening.  I hope you enjoyed this podcast.  If so, please do me a favor and leave a short written review on iTunes.  Also, be sure to subscribe so you don’t miss an episode! The post <a href="https://www.handymanstartup.com/jumpstart-your-handyman-business-handyman-interview/" rel="nofollow" target="_blank">HS 022 – How to Jumpstart Your Handyman Business – Interview With Brand New Handyman Justin Terrill</a> appeared first on <a href="https://www.handymanstartup.com" rel="nofollow" target="_blank">Handyman Startup</a>.

HS 022 – How to Jumpstart Your Handyman Business – Interview With Brand New Handyman Justin Terrill

When I started my handyman business 3 years ago, I didn’t look like the typical handyman.  I didn’t have much experience, I didn’t have a reputation to help spread the word, and I looked like I was 18. Let’s just say customers weren’t sprinting to their phones in a mad dash to call me. That’s why I knew I’d have to go through extra steps to make myself look professional.  I had to find a way to look like I was actually an established business.  Otherwise, what reason would a customer have to even trust me? So, I spent some time branding my business.  I did all the things necessary to make it appear as if I’d been doing this for a while.  I went out of my way to differentiate myself from other handymen. As it turns out, overcompensating for my weakness ended up helping my business tremendously. Not only did the extra time branding my business convince customers I was worth hiring, but it increased my perceived value in their minds. The fact that I looked like I was a kid didn’t matter anymore.  I presented myself as if I had my shit together, and that was enough to convince them to at least give me a shot. Of course, haveing a pretty logo designed and putting on a uniform didn’t get me customers by itself.  I still had to put effort into generating leads.  But it certainly helped close the deal on many occassions and it continues to do so. That’s why in this podcast, I discuss the power of branding and tips for creating your brand.  Whether you are just getting started or have been in business for a while, a great brand can take your business to the next level. Here’s A Sample Of What I Cover in This Episode:  5 questions you must ask yourself before even naming your business. The steps I took and recommend to building a great brand on a budget. What a brand can do for your business. Tips for creating a brand that you are proud of and enjoy for years to come.  Here are some resources mentioned:  Free video training to help you generate leads 24/7 Fiverr.com – Get a decent log for just $5 A logo design you love, or 100% of your money back at 99designs.com  (affiliate link)  As always, thanks for listening!  Be sure to subscribe in iTunes or Stitcher and leave me a review in iTunes! The post HS 021 – The Power of Branding Your Handyman Business (plus tips for success) appeared first on Handyman Startup.

When I started my handyman business 3 years ago, I didn’t look like the typical handyman.  I didn’t have much experience, I didn’t have a reputation to help spread the word, and I looked like I was 18. Let’s just say customers weren’t sprinting to their phones in a mad dash to call me. That’s why I knew I’d have to go through extra steps to make myself look professional.  I had to find a way to look like I was actually an established business.  Otherwise, what reason would a customer have to even trust me? So, I spent some time branding my business.  I did all the things necessary to make it appear as if I’d been doing this for a while.  I went out of my way to differentiate myself from other handymen. As it turns out, overcompensating for my weakness ended up helping my business tremendously. Not only did the extra time branding my business convince customers I was worth hiring, but it increased my perceived value in their minds. The fact that I looked like I was a kid didn’t matter anymore.  I presented myself as if I had my shit together, and that was enough to convince them to at least give me a shot. Of course, haveing a pretty logo designed and putting on a uniform didn’t get me customers by itself.  I still had to put effort into generating leads.  But it certainly helped close the deal on many occassions and it continues to do so. That’s why in this podcast, I discuss the power of branding and tips for creating your brand.  Whether you are just getting started or have been in business for a while, a great brand can take your business to the next level. <h3>Here’s A Sample Of What I Cover in This Episode:</h3> <ul> <li>5 questions you must ask yourself before even naming your business.</li> <li>The steps I took and recommend to building a great brand on a budget.</li> <li>What a brand can do for your business.</li> <li>Tips for creating a brand that you are proud of and enjoy for years to come.</li> </ul> <h3>Here are some resources mentioned:</h3> <ul> <li><a href="https://www.handymanstartup.com/getcustomers" rel="noopener noreferrer nofollow" target="_blank">Free video training</a> to help you generate leads 24/7</li> <li><a href="http://www.fiverr.com" rel="noopener noreferrer nofollow" target="_blank">Fiverr.com</a> – Get a decent log for just $5</li> <li>A logo design you love, or 100% of your money back at <a href="http://www.dpbolvw.net/click-5671673-10792371?cm_mmc=CJ-_-3639855-_-5671673-_-Logo%20Design%20-%20Text" rel="noopener noreferrer nofollow" target="_blank">99designs.com</a>  (affiliate link)</li> </ul> As always, thanks for listening!  Be sure to subscribe in iTunes or Stitcher and leave me a review in iTunes! The post <a href="https://www.handymanstartup.com/how-to-brand-a-handyman-business/" rel="nofollow" target="_blank">HS 021 – The Power of Branding Your Handyman Business (plus tips for success)</a> appeared first on <a href="https://www.handymanstartup.com" rel="nofollow" target="_blank">Handyman Startup</a>.

HS 021 – The Power of Branding Your Handyman Business (plus tips for success)

Linda Stanfield

Have you ever thought about becoming a franchisee? If so, you’re going to love this Interview. In this episode of the Handyman Startup podcast, I talk with Linda Stanfield, owner of Benjamin Franking Plumbing in Chandler, Arizona. Linda has worked with her husband to grow their own Benjamin Franklin Plumbing and has had a lot of success doing it.  She’s also a great person who is interested in improving the home service industry and is willing to share what she’s learned to help others. With over 15 years as a business owner, Linda has a lot of valuable lessons to teach and it was a pleasure having her on the show. Regardless of whether you are buying a plumbing franchise, or starting a handyman business, the insights that Linda shares are extremely valuable. Here are some of the topics we cover in this episode:  How the home service industry is changing and what you need to do to adapt. The secret to giving amazing service. Benefits of becoming a franchisee. What to consider when purchasing a franchise. The power of simply wearing a uniform. The importance of learning your financials. The key metrics to focus on in your business.   Recommended Resources Mentioned:  The Handyman Web Academy – Online marketing made easy for the home service industry (Now called “Handyman Marketing Machine”). Linda’s personal website – LindaStanfield.com Linda’s book recommendation – “Where Did the Money Go?“  Thanks for listening!  And, if you haven’t yet done so, please leave a review on iTunes and let me know how I’m doing!  You may even get featured on the next episode. Comments or Questions? Have any thoughts on a topic for the next show?  Know somebody I should interview?  Or, just want to share your thoughts on this episode.  Let me know in the comments below!  The post HS020 – An Inside Look At A Plumbing Franchise – Interview With Linda Stanfield appeared first on Handyman Startup.

Have you ever thought about becoming a franchisee? If so, you’re going to love this Interview. In this episode of the Handyman Startup podcast, I talk with Linda Stanfield, owner of Benjamin Franking Plumbing in Chandler, Arizona. Linda has worked with her husband to grow their own Benjamin Franklin Plumbing and has had a lot of success doing it.  She’s also a great person who is interested in improving the home service industry and is willing to share what she’s learned to help others. With over 15 years as a business owner, Linda has a lot of valuable lessons to teach and it was a pleasure having her on the show. Regardless of whether you are buying a plumbing franchise, or starting a handyman business, the insights that Linda shares are extremely valuable. Here are some of the topics we cover in this episode: <ul> <li>How the <a href="https://www.handymanstartup.com/future-handyman-business/" rel="nofollow" target="_blank">home service industry</a> is changing and what you need to do to adapt.</li> <li>The secret to giving amazing service.</li> <li>Benefits of becoming a franchisee.</li> <li>What to consider when purchasing a franchise.</li> <li>The power of simply wearing a uniform.</li> <li>The importance of learning your financials.</li> <li>The key metrics to focus on in your business.</li> </ul> Recommended Resources Mentioned: <ul> <li><a href="https://www.handymanstartup.com/landing/handyman-marketing-machine/" rel="nofollow" target="_blank">The Handyman Web Academy</a> – Online marketing made easy for the home service industry (Now called “Handyman Marketing Machine”).</li> <li>Linda’s personal website – <a href="http://LindaStanfield.com" rel="nofollow" target="_blank">LindaStanfield.com</a></li> <li>Linda’s book recommendation – “<a href="http://www.amazon.com/gp/product/0984587608/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=390957&amp;creativeASIN=0984587608&amp;linkCode=as2&amp;tag=handystart-20&amp;linkId=UIQBXC6Y3KFRYKHO" rel="nofollow" target="_blank">Where Did the Money Go?</a>“</li> </ul> Thanks for listening!  And, if you haven’t yet done so, please leave a review on iTunes and let me know how I’m doing!  You may even get featured on the next episode. <h2>Comments or Questions?</h2> Have any thoughts on a topic for the next show?  Know somebody I should interview?  Or, just want to share your thoughts on this episode.  Let me know in the comments below! The post <a href="https://www.handymanstartup.com/inside-look-at-a-plumbing-franchise-interview-with-linda-stanfield/" rel="nofollow" target="_blank">HS020 – An Inside Look At A Plumbing Franchise – Interview With Linda Stanfield</a> appeared first on <a href="https://www.handymanstartup.com" rel="nofollow" target="_blank">Handyman Startup</a>.

HS020 – An Inside Look At A Plumbing Franchise – Interview With Linda Stanfield

Rick Mulready

Time for another episode of the Handyman Startup Podcast!  In this session, I sit down with social media expert, Rick Mulready. We’ve all been hearing the buzz about social media over the last couple years, and there is no doubt it can be a powerful marketing strategy for businesses of all sizes.  Just take a look at Dollar Shave Club, who built a business based on social media marketing almost exclusively. Social sites like Facebook, Twitter, Pinterest, YouTube, Instagram, and the like are reshaping how we think about promoting our businesses and as far as I can tell, they aren’t going away any time soon. That’s why I asked Rick Mulready of the Inside Social Media Podcast to join me to discuss how us handymen and other home service providers can take advantage of social media to get more customers. Rick  has over 12 years of corporate internet marketing experience gained from working for companies like AOL, Yahoo!, and Funny or Die. Now, he shares big brand social media strategies with small business owners on his podcast.  Social media is what he does.  Beyond that, he’s just a good dude.  So, I figured who better to share some valuable marketing advice with you! Here’s what we cover in this episode:  What social media can do for your business. Which social media platforms YOU should be using. How to get the most from your social media efforts with a limited time investment. How to get more Facebook likes without shelling out your cash. Best practices for gaining traction on Facebook.  Additional Resources:  To Learn more from Rick, visit his site and podcast here:  RickMulready.com Lowe’s is doing a great job with Social Media.  Check out this article to learn from them.  Thanks for listening! If you enjoyed the podcast, I’d be really thankful if you’d share it or reviewed it on iTunes.   Click here to share a pre-populated tweet.   Comments or Questions What’s your preferred social media platform?  Where do you hang out on the internet?  Let me know in the comments below!  The post HS 013 – Social Media For The Handyman Business (Interview With Rick Mulready) appeared first on Handyman Startup.

Time for another episode of the Handyman Startup Podcast!  In this session, I sit down with social media expert, Rick Mulready. We’ve all been hearing the buzz about social media over the last couple years, and there is no doubt it can be a powerful marketing strategy for businesses of all sizes.  Just take a look at <a href="http://www.dollarshaveclub.com/" rel="nofollow" target="_blank">Dollar Shave Club</a>, who built a business based on social media marketing almost exclusively. Social sites like Facebook, Twitter, Pinterest, YouTube, Instagram, and the like are reshaping how we think about promoting our businesses and as far as I can tell, they aren’t going away any time soon. That’s why I asked Rick Mulready of the Inside Social Media Podcast to join me to discuss how us handymen and other home service providers can take advantage of social media to get more customers. Rick  has over 12 years of corporate internet marketing experience gained from working for companies like AOL, Yahoo!, and Funny or Die. Now, he shares big brand social media strategies with small business owners on his podcast.  Social media is what he does.  Beyond that, he’s just a good dude.  So, I figured who better to share some valuable marketing advice with you! Here’s what we cover in this episode: <ul> <li>What social media can do for your business.</li> <li>Which social media platforms YOU should be using.</li> <li>How to get the most from your social media efforts with a limited time investment.</li> <li>How to get more Facebook likes without shelling out your cash.</li> <li>Best practices for gaining traction on Facebook.</li> </ul> Additional Resources: <ul> <li>To Learn more from Rick, visit his site and podcast here:  <a href="http://rickmulready.com" rel="noopener noreferrer nofollow" target="_blank">RickMulready.com</a></li> <li>Lowe’s is doing a great job with Social Media.  Check out <a href="http://econsultancy.com/blog/64133-how-lowe-s-nails-social-media-through-vine-pinterest-and-facebook" rel="noopener noreferrer nofollow" target="_blank">this article</a> to learn from them.</li> </ul> Thanks for listening! If you enjoyed the podcast, I’d be really thankful if you’d share it or reviewed it on iTunes.   <a href="http://ctt.ec/60cAb" rel="nofollow" target="_blank">Click here to share a pre-populated tweet. </a> <h2>Comments or Questions</h2> What’s your preferred social media platform?  Where do you hang out on the internet?  Let me know in the comments below! The post <a href="https://www.handymanstartup.com/social-media-for-the-handyman-business-interview-with-rick-mulready/" rel="nofollow" target="_blank">HS 013 – Social Media For The Handyman Business (Interview With Rick Mulready)</a> appeared first on <a href="https://www.handymanstartup.com" rel="nofollow" target="_blank">Handyman Startup</a>.

HS 013 – Social Media For The Handyman Business (Interview With Rick Mulready)

Awesome podcast, sorry to see it end, lets tag together and starat again. Been in construction for 40 plus years, Semi retired and moved half way across the United States to Kansas Im in the process of opening a one man handyman business.
Stumbled on your website as well. Nice job!
Chip-

Podcast

Dan had a great podcast, sorry I found it so late. Full of great advice, tips and tricks. I downgraded my rating to 3 stars because he abandoned the podcast in favor of monetizing his web classes. I’m sure that’s good too but I cant speak from experience there. Unfortunately this is abandoning his own advice, in one of his podcasts he cites the importance of doing website content like blogs to lure in paying customers and build credibility. Perhaps if he continued podcasting about his business, he would draw in more people like me and continue to build credibility.

Would be 5 stars if it was still active

The Handyman Startup Podcast:  Small Business | Marketing | Lifestyle | Home Improvement

Have you ever wondered why some handymen are booked solid at $75/hour while others are struggling while only charging $25/hour?  Sure, level of skill plays a major role, but there is  much more to the equation. In this episode of the Handyman Startup Podcast, I discuss strategies that you must implement in order to demand a solid hourly rate.  There are 5 things that have allowed me to go from charging $25/hour to demanding $60/hour and having customers be more than happy to pay that.  I discuss each in detail so you can start making more money with your handyman business. Here’s what to expect in this podcast:  Why your appearance plays a major role in how much you can charge. How targeting the right customers will make or break your business. How the types of services you offer effects your profits. How to re-assure customers and increase the likelihood of being hired. Why quality should be integrated into every aspect of your business.  Thanks for listening and don’t forget to put these strategies into action right away. If you find this information helpful, be sure to subscribe so you can receive my podcasts as soon as they are released.  Also, a quick review on iTunes is very much appreciated! How to subscribe:  Go to iTunes (if you’re on a mobile device, you’ll need to download the podcast app) Click Subscribe.  It’s that easy. Now you can get all of my best advice on the go!  The post HS 003 – 5 Strategies To Increase Your Hourly Rate appeared first on Handyman Startup.

Have you ever wondered why some handymen are booked solid at $75/hour while others are struggling while only charging $25/hour?  Sure, level of skill plays a major role, but there is  much more to the equation. In this episode of the Handyman Startup Podcast, I discuss strategies that you must implement in order to demand a solid hourly rate.  There are 5 things that have allowed me to go from charging $25/hour to demanding $60/hour and having customers be more than happy to pay that.  I discuss each in detail so you can start making more money with your handyman business. Here’s what to expect in this podcast: <ul> <li>Why your appearance plays a major role in how much you can charge.</li> <li>How targeting the right customers will make or break your business.</li> <li>How the types of services you offer effects your profits.</li> <li>How to re-assure customers and increase the likelihood of being hired.</li> <li>Why quality should be integrated into every aspect of your business.</li> </ul> Thanks for listening and don’t forget to put these strategies into action right away. If you find this information helpful, be sure to subscribe so you can receive my podcasts as soon as they are released.  Also, a quick review on iTunes is very much appreciated! How to subscribe: <ol> <li>Go to iTunes (if you’re on a mobile device, you’ll need to download the podcast app)</li> <li>Click Subscribe.  It’s that easy.</li> <li>Now you can get all of my best advice on the go!</li> </ol> The post <a href="https://www.handymanstartup.com/hs-003-5-strategies-to-increase-your-hourly-rate/" rel="nofollow" target="_blank">HS 003 – 5 Strategies To Increase Your Hourly Rate</a> appeared first on <a href="https://www.handymanstartup.com" rel="nofollow" target="_blank">Handyman Startup</a>.

HS 003 – 5 Strategies To Increase Your Hourly Rate

In this episode of the Handyman Startup Podcast I share 7 of the most valuable lessons I’ve learned in the last 3 years in business.  These are lessons that have changed my mindset and the way I view business, people, and the world in general. Today marks exactly three years since I quit my engineering job and decided to venture out on my own in an attempt to control my own destiny and design a better life for myself. Deciding to quit on that day was the best (and hardest) decision I’ve ever made for myself.  Because of that decision I was able to start a successful handyman business, create this website, and enjoy the entire experience (well, most of it). That’s pretty cool considering that while working as an engineer I was depressed, out of shape, and really unhappy.  Things have pretty much made a 180 degree turn for the better. While quitting my job was a great decision, it wasn’t always easy.  There were a lot of struggles over the last three years and many times where I wanted to give up and just go get another job.  There’s a steep learning curve as a beginning entrepreneur.  But, with the support of my readers, friends, and family I was able to stick it out. Through those struggles I learned a LOT, often times things that I didn’t even know I needed to learn.  That’s what this latest podcast is all about – those major lessons I’ve learned along the way. I’m excited to share these with you today because they are things I think about all the time.  It’s great to share my story with the hope that it may help you along your journey to dominate life and start a successful handyman business. Here is a sneak peak of what you can expect in this episode:  Why you shouldn’t care if a customers say your too expensive. Why saying no is such a valuable skill. Why you shouldn’t even worry about your competition. How to learn what you don’t know you don’t know. My best tips and secrets on how to enjoy this business to the fullest and design it exactly how you want.   Related Resources:  How to get more customers – Handyman Marketing Machine The Ultimate Handyman Pricing Guide Michael Port – Book Yourself Solid JamesAltucher.com  (I don’t mention this in the podcast, but I think his blog is worth mentioning.  Check it out.)  Thanks for listening and if you get a chance, please leave a written review on iTunes.  It helps the show gain more exposure and you may even get featured on the next podcast. Comments or Questions What is the most valuable lesson you’ve learned since starting your business?  Or, if you haven’t started yet, which one of my lessons hit home the most?  Let me know in the comments below!  The post HS 016 – 7 Lessons Learned From 3 Years In Business appeared first on Handyman Startup.

In this episode of the Handyman Startup Podcast I share 7 of the most valuable lessons I’ve learned in the last 3 years in business.  These are lessons that have changed my mindset and the way I view business, people, and the world in general. Today marks exactly three years since I quit my engineering job and decided to venture out on my own in an attempt to control my own destiny and design a better life for myself. Deciding to quit on that day was the best (and hardest) decision I’ve ever made for myself.  Because of that decision I was able to start a successful handyman business, create this website, and enjoy the entire experience (well, most of it). That’s pretty cool considering that while working as an engineer I was depressed, out of shape, and really unhappy.  Things have pretty much made a 180 degree turn for the better. While quitting my job was a great decision, it wasn’t always easy.  There were a lot of struggles over the last three years and many times where I wanted to give up and just go get another job.  There’s a steep learning curve as a beginning entrepreneur.  But, with the support of my readers, friends, and family I was able to stick it out. Through those struggles I learned a LOT, often times things that I didn’t even know I needed to learn.  That’s what this latest podcast is all about – those major lessons I’ve learned along the way. I’m excited to share these with you today because they are things I think about all the time.  It’s great to share my story with the hope that it may help you along your journey to dominate life and start a successful handyman business. Here is a sneak peak of what you can expect in this episode: <ul> <li>Why you shouldn’t care if a customers say your too expensive.</li> <li>Why saying no is such a valuable skill.</li> <li>Why you shouldn’t even worry about your competition.</li> <li>How to learn what you don’t know you don’t know.</li> <li>My best tips and secrets on how to enjoy this business to the fullest and design it exactly how you want.</li> </ul> Related Resources: <ul> <li>How to get more customers – <a href="https://www.handymanstartup.com/landing/handyman-marketing-machine/" rel="noopener noreferrer nofollow" target="_blank">Handyman Marketing Machine</a></li> <li><a href="https://my.leadpages.net/leadbox/145dd0173f72a2%3A16405ac46b46dc/5700019675987968/" rel="noopener noreferrer nofollow" target="_blank">The Ultimate Handyman Pricing Guide</a></li> <li>Michael Port – <a href="http://www.bookyourselfsolid.com/?utm_source=MP&amp;utm_medium=BYS&amp;utm_campaign=Navbar" rel="noopener noreferrer nofollow" target="_blank">Book Yourself Solid</a></li> <li><a href="http://www.jamesaltucher.com/" rel="noopener noreferrer nofollow" target="_blank">JamesAltucher.com</a>  (I don’t mention this in the podcast, but I think his blog is worth mentioning.  Check it out.)</li> </ul> Thanks for listening and if you get a chance, please leave a written review on iTunes.  It helps the show gain more exposure and you may even get featured on the next podcast. <h2>Comments or Questions</h2> What is the most valuable lesson you’ve learned since starting your business?  Or, if you haven’t started yet, which one of my lessons hit home the most?  Let me know in the comments below! The post <a href="https://www.handymanstartup.com/lessons-learned-from-3-years-in-business/" rel="nofollow" target="_blank">HS 016 – 7 Lessons Learned From 3 Years In Business</a> appeared first on <a href="https://www.handymanstartup.com" rel="nofollow" target="_blank">Handyman Startup</a>.

HS 016 – 7 Lessons Learned From 3 Years In Business

Chuck Solomon

In this episode of the Handyman Startup Podcast I’ve got a special guest – Chuck Solomon.  Chuck is a former handyman business owner, an author of multiple books, and a business consultant. He’s literally written the book on how to start and grow a handyman business.  (See resources below for a link.)  He’s also just an all around nice guy who’s looking to help tradesmen like you grow your business. Just like most handymen, Chuck kind of fell into the business and before he knew it had a list of customers asking him to do all kinds of work.  He capitalized on the opportunity, offered excellent service, and soon enough he was running a successful biz. After 10 years, Chuck decided to hang his hat and sell his business and became a consultant.  He’s now using the valuable knowledge he gained during his own journey to help others. Back in episode #10, Jim Copenhaver talks about the importance of mentors.  Chuck was one of the mentor’s he was speaking of who helped him build his business. Talking to Chuck in this episode is very humbling as it makes me realize that there is still a lot I can learn about this business. Here are a few things we cover in this episode:  Why you shouldn’t give free quotes and what to do instead. How to build instant credibility with customers. Who you should hire first if you’re looking to grow. How to find and hire skilled labor step by step. How to qualify customers and avoid tire kickers before they waste your time.  Resources mentioned in the podcast:  Chuck’s books:  “Building Your Successful Handyman Business” &amp; “Upkeep“ Chuck’s website:  ChuckSolomon.com (Want help growing your business?  Chuck offers consulting services.  Contact him through his website.) The Handyman Web Academy – Learn how to generate your own leads online. (Now called “Handyman Marketing Machine”)  Thanks for listening!  And if you get a chance, be sure to leave a written review on iTunes.  It helps me tremendously and you may even get a shout-out on the next episode.  The post HS017 – Grow Your Handyman Business With Chuck Solomon appeared first on Handyman Startup.

In this episode of the Handyman Startup Podcast I’ve got a special guest – Chuck Solomon.  Chuck is a former handyman business owner, an author of multiple books, and a business consultant. He’s literally written the book on how to start and grow a handyman business.  (See resources below for a link.)  He’s also just an all around nice guy who’s looking to help tradesmen like you grow your business. Just like most handymen, Chuck kind of fell into the business and before he knew it had a list of customers asking him to do all kinds of work.  He capitalized on the opportunity, offered excellent service, and soon enough he was running a successful biz. After 10 years, Chuck decided to hang his hat and sell his business and became a consultant.  He’s now using the valuable knowledge he gained during his own journey to help others. Back in <a href="https://www.handymanstartup.com/podcast-interview-with-jim-copenhaver/" rel="nofollow" target="_blank">episode #10</a>, Jim Copenhaver talks about the importance of mentors.  Chuck was one of the mentor’s he was speaking of who helped him build his business. Talking to Chuck in this episode is very humbling as it makes me realize that there is still a lot I can learn about this business. Here are a few things we cover in this episode: <ul> <li>Why you <a href="https://www.handymanstartup.com/why-you-shouldnt-offer-free-quotes/" rel="nofollow" target="_blank">shouldn’t give free quotes</a> and what to do instead.</li> <li>How to build instant credibility with customers.</li> <li>Who you should hire first if you’re looking to grow.</li> <li>How to find and hire skilled labor step by step.</li> <li>How to qualify customers and avoid tire kickers before they waste your time.</li> </ul> Resources mentioned in the podcast: <ul> <li>Chuck’s books:  “<a href="http://www.amazon.com/gp/product/1448633524/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=390957&amp;creativeASIN=1448633524&amp;linkCode=as2&amp;tag=handystart-20&amp;linkId=NZGEECNY6M2VDWGB" rel="nofollow noopener noreferrer" target="_blank">Building Your Successful Handyman Business</a>” &amp; “<a href="https://www.smashwords.com/books/view/342363" rel="nofollow noopener noreferrer" target="_blank">Upkeep</a>“</li> <li>Chuck’s website:  <a href="http://www.chucksolomon.com/" rel="noopener noreferrer nofollow" target="_blank">ChuckSolomon.com</a> (Want help growing your business?  Chuck offers consulting services.  Contact him through his website.)</li> <li><a href="https://www.handymanstartup.com/landing/handyman-marketing-machine/" rel="nofollow" target="_blank">The Handyman Web Academy</a> – Learn how to generate your own leads online. (Now called “Handyman Marketing Machine”)</li> </ul> Thanks for listening!  And if you get a chance, be sure to leave a written review on iTunes.  It helps me tremendously and you may even get a shout-out on the next episode. The post <a href="https://www.handymanstartup.com/chuck-solomon-interview/" rel="nofollow" target="_blank">HS017 – Grow Your Handyman Business With Chuck Solomon</a> appeared first on <a href="https://www.handymanstartup.com" rel="nofollow" target="_blank">Handyman Startup</a>.

HS017 – Grow Your Handyman Business With Chuck Solomon

I’m taking the entire week off from my handyman services to celebrate Independence Day, and I couldn’t be more thankful for the opportunity. This excitement about the ability to control my schedule and take time off at will has my brain turning with all of the benefits of owning a small business, specifically, a handyman business.  You see, two years ago, I was still working at an office job that I, for lack of a better word, hated. I don’t mean to be negative, but it’s true. I had been working at this desk job for the previous three and a half years, and every day seemed like a little bit more of my soul was draining away. I sat at my desk feeling imprisoned from 8 am to 6 pm every. Single. Day. I was 28, unhappy, unhealthy, and clawing desperately to gain the courage to turn things around and improve my life. Finally, I mustered up the courage to say, “screw a good paycheck and full benefits, I’m unhappy, and something needs to change.” So on Monday, May 3rd of 2011, I put in my notice, and two weeks later, I was free! On that day, I decided I would never live a life suppressed by “the man.” Quitting my job and starting my handyman business was one of the best decisions. So in this podcast episode, I discuss the many benefits of owning a handyman business and some of the disadvantages. This podcast is meant to help you decide if the handyman business is right for you. And if you’ve already started a home repair business, it will make you happy you did! Here are some of the key points:  The many financial benefits of starting a handyman business. The many Lifestyle benefits of starting a handyman business. The financial and lifestyle drawbacks of the handyman business. The must-have personal characteristics of a good handyman business owner.  Why I chose to start a handyman business in the first place It took me a long time and some deep soul searching before I finally decided to start a handyman business. I had so many questions before getting started. Like… How much does a handyman make? What skills do you need? Is there too much competition already? Are there better business opportunities out there? But ultimately, when I stepped back to analyze what I wanted from a career, the decision became clear. Instead of trying to compare the infinite options of careers available, I defined the things that were most important to me in a career. I started with a lifestyle design approach. You may have heard of lifestyle design before, but maybe not. Either way, I believe deliberately designing your life is one of the keys to being happy. Unfortunately, most of us spend our time submitting to society and letting the masses force their values upon us. We constantly think that we “need” to do something based on whatever influences we’ve had along the way. It’s important to break away from this thought process and figure out what you want and what makes you happy on a day-to-day basis. Otherwise, your only chance at satisfaction is to get lucky. The practice of lifestyle design starts with one simple question. What do you want? Pretend for a minute that you have Bill Gates’s bankroll and zero responsibilities. How would you fill your time? Seriously, take two minutes to think about this. You could travel the world on your own yacht, buy the Laker’s franchise, and own every sports car you can get your hands on. But I seriously doubt this will provide you with long-term fulfillment. So, think for a while about what you really want in life. What makes you happy? When do you feel best? At what point in your life were you the happiest, and why? Hopefully, these questions will give you insight into whether a handyman business is right for you. If you are like me, you’ll realize that it’s not about the end goal. It’s about enjoying yourself as much as possible along the way. I can honestly say that if I didn’t have to work, I would still want to be help people. It just makes me feel good. When I asked myself the questions above, I came up with a list of benefits that I wanted from a career. Some of these benefits are absolute must-haves, and others would be nice but unnecessary. Here’s the list I came up with.  Freedom – I have a bit of a problem with authority and don’t like being told what to do. Business ownership was the only choice. I have the freedom of taking time off when necessary and not a measly two weeks per year. Working in the physical world. Computers are amazing, but they’ll drain your soul if you let them. Plus, I just feel way better when I’ve been up and moving all day. Challenge. If I’m comfortable, I’m bored. Life’s too short to be boring. Take risks and leave your comfort zone. It’s the best way to learn and the only way to accomplish great things. Options. I like having several doors to choose from. If you reach a point where you only have one option to move forward, move back instead. Then choose a different door. When you are self-employed, there are always multiple doors. Control – I like to call the shots and can’t stand when I’m working for someone I know is making poor decisions. To be necessary. It’s important to me to matter, even if it is just to an old lady that needs her curtains hung. Last but not least, good money. Money is necessary because it enables me to do the things I enjoy and provide for my kids. If I could go back and live with the Native Americans 300 years ago, I would and wouldn’t give a shit about money. But let’s face it, I can’t do that.  When I considered everything else, I finally decided that a handyman business was one of the few careers that fit the bill. And it turns out I was right. Starting a handyman business has allowed me to choose when I work, what I work on, and how hard I work. I get to work with my hands every day instead of sitting behind a desk. I get to be challenged both mentally and physically to keep my mind a body strong. And I have a sense of purpose because I’m providing a necessary service that customers thank me for as they pay me (the pay is nice, too). There are several other careers or service businesses that could potentially provide the same fulfillment, but other factors pushed me toward a handyman service. The fact that it’s low-cost to get started was a big factor. It’s also very low-risk. Plus, I already had many of the skills required and didn’t need to go back to school to get started. Of course, there are some downsides to running a handyman business. One is that it can be hard work, and If I’m not working, I’m not making any money. Another con is that the handyman business is difficult to scale. Employees need to be well-rounded, very knowledgeable, reliable, and willing to work hard. So if you want to hire employees and build a big business, I think there are better business opportunities (like picking a specialty). Another disadvantage is that you have to do everything and make all the tough decisions yourself. This often means tedious paperwork and slightly higher stress levels while making bigger business decisions. So yes, there are cons, but there are disadvantages to everything. If you choose your career based on avoiding the bad, you’ll never find interesting work that you enjoy. Everything sucks part of the time. I hope you’ve found this helpful, and it has illuminated some of the benefits that being a pro handyman can bring. If you want to learn more, I recommend listening to the podcast episode further up the page or on iTunes or your favorite podcast player. The post Why You Should (or Shouldn’t) Start a Handyman Business appeared first on Handyman Startup.

I’m taking the entire week off from my handyman services to celebrate Independence Day, and I couldn’t be more thankful for the opportunity. This excitement about the ability to control my schedule and take time off at will has my brain turning with all of the benefits of owning a small business, specifically, a handyman business. You see, two years ago, I was still working at an office job that I, for lack of a better word, hated. I don’t mean to be negative, but it’s true. I had been working at this desk job for the previous three and a half years, and every day seemed like a little bit more of my soul was draining away. I sat at my desk feeling imprisoned from 8 am to 6 pm every. Single. Day. I was 28, unhappy, unhealthy, and clawing desperately to gain the courage to turn things around and improve my life. Finally, I <a href="https://www.handymanstartup.com/quit-job-to-start-business/" rel="nofollow" target="_blank">mustered up the courage</a> to say, “screw a good paycheck and full benefits, I’m unhappy, and something needs to change.” So on Monday, May 3rd of 2011, I put in my notice, and two weeks later, I was free! On that day, I decided I would never live a life suppressed by “the man.” Quitting my job and starting my handyman business was one of the best decisions. So in this podcast episode, I discuss the many benefits of owning a handyman business and some of the disadvantages. This podcast is meant to help you decide if the handyman business is right for you. And if you’ve already started a home repair business, it will make you happy you did! Here are some of the key points: <ul> <li>The many financial benefits of starting a handyman business.</li> <li>The many Lifestyle benefits of starting a handyman business.</li> <li>The financial and lifestyle drawbacks of the handyman business.</li> <li>The must-have personal characteristics of a good handyman business owner.</li> </ul> <h2>Why I chose to start a handyman business in the first place</h2> It took me a long time and some deep soul searching before I finally decided to start a handyman business. I had so many questions before getting started. Like… <a href="https://www.handymanstartup.com/how-much-handyman-make/" rel="nofollow" target="_blank">How much does a handyman make</a>? What <a href="https://www.handymanstartup.com/assessing-handyman-skills-and-creating-a-services-list/" rel="nofollow" target="_blank">skills</a> do you need? Is there <a href="https://www.handymanstartup.com/handyman-business-competition/" rel="nofollow" target="_blank">too much competition</a> already? Are there <a href="https://www.handymanstartup.com/plan-replace-income-quit-job/" rel="nofollow" target="_blank">better business opportunities</a> out there? But ultimately, when I stepped back to analyze what I wanted from a career, the decision became clear. Instead of trying to compare the infinite options of careers available, I defined the things that were most important to me in a career. I started with a lifestyle design approach. You may have heard of lifestyle design before, but maybe not. Either way, I believe deliberately designing your life is one of the keys to being happy. Unfortunately, most of us spend our time submitting to society and letting the masses force their values upon us. We constantly think that we “need” to do something based on whatever influences we’ve had along the way. It’s important to break away from this thought process and figure out what you want and what makes you happy on a day-to-day basis. Otherwise, your only chance at satisfaction is to get lucky. The practice of lifestyle design starts with one simple question. <h2>What do you want?</h2> Pretend for a minute that you have Bill Gates’s bankroll and zero responsibilities. How would you fill your time? Seriously, take two minutes to think about this. You could travel the world on your own yacht, buy the Laker’s franchise, and own every sports car you can get your hands on. But I seriously doubt this will provide you with long-term fulfillment. So, think for a while about what you really want in life. What makes you happy? When do you feel best? At what point in your life were you the happiest, and why? Hopefully, these questions will give you insight into whether a handyman business is right for you. If you are like me, you’ll realize that it’s not about the end goal. It’s about enjoying yourself as much as possible along the way. I can honestly say that if I didn’t have to work, I would still want to be help people. It just makes me feel good. When I asked myself the questions above, I came up with a list of benefits that I wanted from a career. Some of these benefits are absolute must-haves, and others would be nice but unnecessary. Here’s the list I came up with. <ul> <li>Freedom – I have a bit of a problem with authority and don’t like being told what to do. Business ownership was the only choice. I have the freedom of taking time off when necessary and not a measly two weeks per year.</li> <li>Working in the physical world. Computers are amazing, but they’ll drain your soul if you let them. Plus, I just feel way better when I’ve been up and moving all day.</li> <li>Challenge. If I’m comfortable, I’m bored. Life’s too short to be boring. Take risks and leave your comfort zone. It’s the best way to learn and the only way to accomplish great things.</li> <li>Options. I like having several doors to choose from. If you reach a point where you only have one option to move forward, move back instead. Then choose a different door. When you are self-employed, there are always multiple doors.</li> <li>Control – I like to call the shots and can’t stand when I’m working for someone I know is making poor decisions.</li> <li>To be necessary. It’s important to me to matter, even if it is just to an old lady that needs her curtains hung.</li> <li>Last but not least, good money. Money is necessary because it enables me to do the things I enjoy and provide for my kids. If I could go back and live with the Native Americans 300 years ago, I would and wouldn’t give a shit about money. But let’s face it, I can’t do that.</li> </ul> When I considered everything else, I finally decided that a handyman business was one of the few careers that fit the bill. And it turns out I was right. <a href="https://www.handymanstartup.com/starting-home-based-handyman-business/" rel="nofollow" target="_blank">Starting a handyman business</a> has allowed me to choose when I work, what I work on, and how hard I work. I get to work with my hands every day instead of sitting behind a desk. I get to be challenged both mentally and physically to keep my mind a body strong. And I have a sense of purpose because I’m providing a necessary service that customers thank me for as they pay me (the pay is nice, too). There are several other careers or service businesses that could potentially provide the same fulfillment, but other factors pushed me toward a handyman service. The fact that it’s low-cost to get started was a big factor. It’s also very <a href="https://www.handymanstartup.com/handyman-business-risk/" rel="nofollow" target="_blank">low-risk</a>. Plus, I already had many of the skills required and didn’t need to go back to school to get started. Of course, there are some downsides to running a handyman business. One is that it can be hard work, and If I’m not working, I’m not making any money. Another con is that the handyman business is difficult to scale. Employees need to be well-rounded, very knowledgeable, reliable, and willing to work hard. So if you want to hire employees and build a big business, I think there are better business opportunities (like <a href="https://www.handymanstartup.com/7-reasons-to-specialize-with-your-handyman-business/" rel="nofollow" target="_blank">picking a specialty</a>). Another disadvantage is that you have to do everything and make all the tough decisions yourself. This often means tedious paperwork and slightly higher stress levels while making bigger business decisions. So yes, there are cons, but there are disadvantages to everything. If you choose your career based on avoiding the bad, you’ll never find interesting work that you enjoy. Everything sucks part of the time. I hope you’ve found this helpful, and it has illuminated some of the benefits that being a pro handyman can bring. If you want to learn more, I recommend listening to the podcast episode further up the page or on iTunes or your favorite podcast player. The post <a href="https://www.handymanstartup.com/should-you-start-a-handyman-business/" rel="nofollow" target="_blank">Why You Should (or Shouldn’t) Start a Handyman Business</a> appeared first on <a href="https://www.handymanstartup.com" rel="nofollow" target="_blank">Handyman Startup</a>.

Why You Should (or Shouldn’t) Start a Handyman Business

Ed Padilla

In this episode of the Handyman Startup Podcast, I sit down with Ed Padilla, founder of ACHP (Association of Certified Handyman Professionals). Ed has a really interesting story.  After being trapped in the corporate rat race for several years, he realized that he wanted something else.  So, he quit his job and capitalized on the demand he could see present for home repairs. In 2006 he started Padilla Home Inspection and Handyman Services.  Soon after getting started, he noticed that handymen had a terrible reputation in the eyes of homeowners.  Tired of getting the stink-eye every time he entered a home, he had the urge to change this perspective. Three years later, he took action and created ACHP, a non-profit, member based organization  to help handymen all over the country appear more reputable to homeowners.  Now, ACHP is growing and offering benefits to it’s members such as great insurance rates. I’m honored to have Ed on the podcast.  He’s doing great things for the handyman industry and by listening to him you get the sense that he really cares about our industry. Here’s what we cover in this episode:  Where to go for your general liability insurance and what to consider. Insights into the home inspection industry. How to limit liability as a home inspector and handyman business. The importance of confidence when starting your own business. The most important skills you need as a handyman. Quality over quantity.  The benefit of taking your time on your jobs. What is the ACHP and why is it important?  Resources mentioned in the podcast:  ACHP website (go here for general liability quotes and more) ACHP LinkedIn Group (Great place to interact with other handymen even if you’re not a member of ACHP) Handyman Web Academy – Learn the best strategies for getting customers. (Now called “Handyman Marketing Machine”)  The post HS018 – Interview With Ed Padilla:  Home Inspector, Handyman, and Founder of ACHP appeared first on Handyman Startup.

In this episode of the Handyman Startup Podcast, I sit down with Ed Padilla, founder of ACHP (Association of Certified Handyman Professionals). Ed has a really interesting story.  After being trapped in the corporate rat race for several years, he realized that he wanted something else.  So, he quit his job and capitalized on the demand he could see present for home repairs. In 2006 he started Padilla Home Inspection and Handyman Services.  Soon after getting started, he noticed that handymen had a terrible reputation in the eyes of homeowners.  Tired of getting the stink-eye every time he entered a home, he had the urge to change this perspective. Three years later, he took action and created ACHP, a non-profit, member based organization  to help handymen all over the country appear more reputable to homeowners.  Now, ACHP is growing and offering benefits to it’s members such as great insurance rates. I’m honored to have Ed on the podcast.  He’s doing great things for the handyman industry and by listening to him you get the sense that he really cares about our industry. Here’s what we cover in this episode: <ul> <li>Where to go for your general liability insurance and what to consider.</li> <li>Insights into the home inspection industry.</li> <li>How to limit liability as a home inspector and handyman business.</li> <li>The importance of confidence when starting your own business.</li> <li>The most important skills you need as a handyman.</li> <li>Quality over quantity.  The benefit of taking your time on your jobs.</li> <li>What is the ACHP and why is it important?</li> </ul> Resources mentioned in the podcast: <ul> <li><a href="http://www.handymanassociation.org/" rel="noopener noreferrer nofollow" target="_blank">ACHP website</a> (go here for general liability quotes and more)</li> <li><a href="https://www.linkedin.com/groups?home=&amp;gid=1940057" rel="noopener noreferrer nofollow" target="_blank">ACHP LinkedIn Group</a> (Great place to interact with other handymen even if you’re not a member of ACHP)</li> <li><a href="https://www.handymanstartup.com/landing/handyman-marketing-machine/" rel="nofollow" target="_blank">Handyman Web Academy</a> – Learn the best strategies for getting customers. (Now called “Handyman Marketing Machine”)</li> </ul> The post <a href="https://www.handymanstartup.com/ed-padilla-interview-achp/" rel="nofollow" target="_blank">HS018 – Interview With Ed Padilla: Home Inspector, Handyman, and Founder of ACHP</a> appeared first on <a href="https://www.handymanstartup.com" rel="nofollow" target="_blank">Handyman Startup</a>.

HS018 – Interview With Ed Padilla:  Home Inspector, Handyman, and Founder of ACHP

Christy Webber

In this episode of the Handyman Startup Podcast, I’ve got something special for all you landscaping contractors out there. I bring on Christy Webber of Christy Webber Landscapes in Chicago, IL and uncover her story and how she went from a small town lady mowing lawns, to running one of the largest Landscaping companies in Chicago. I know this isn’t the typical type of guest I bring on the show and Christy isn’t a handyman, but the lessons she shares are applicable to all trades. Christy’s story is incredible, especially considering that she didn’t graduate with a business degree.  In fact, her education was in physical education.  She knew nothing about operating a business and just got started mowing lawns.  And that’s the key to her success, she just got started. Her determined attitude and love for her job helped her build a business that currently employs roughly 400 people!  Listen in to find out how. Here’s what we cover in this episode:  Why some companies fail in bad economic times and others succeed. How to scale a service business even if business isn’t your strong suit. How integrating your story into your business can get your customers working to help you. Struggles with employees and how to deal with them. How to overcome fear and finally get started with your business. How brutal honesty with your customers can take your business to the next level. The importance of letting go and allowing others to help you.  Links and Resources  Check out Christy’s website here. Handyman Web Academy Info (Now called Handyman Marketing Machine)  As always, thanks for listening!  And a special thanks to Christy Webber for joining me on the podcast and sharing her story to help others succeed. CLICK HERE to subscribe to the podcast on iTunes. Comments or Questions Did you find Christy’s story inspiring?  If so, let me know in the comments below.  Then, sign up for my e-mail newsletter to get updates when future episodes are released.  The post HS 015 – How To Go From Mowing Lawns to $32 Million In Revenue With Christy Webber appeared first on Handyman Startup.

In this episode of the Handyman Startup Podcast, I’ve got something special for all you landscaping contractors out there. I bring on Christy Webber of Christy Webber Landscapes in Chicago, IL and uncover her story and how she went from a small town lady mowing lawns, to running one of the largest Landscaping companies in Chicago. I know this isn’t the typical type of guest I bring on the show and Christy isn’t a handyman, but the lessons she shares are applicable to all trades. Christy’s story is incredible, especially considering that she didn’t graduate with a business degree.  In fact, her education was in physical education.  She knew nothing about operating a business and just got started mowing lawns.  And that’s the key to her success, she just got started. Her determined attitude and love for her job helped her build a business that currently employs roughly 400 people!  Listen in to find out how. Here’s what we cover in this episode: <ul> <li>Why some companies fail in bad economic times and others succeed.</li> <li>How to scale a service business even if business isn’t your strong suit.</li> <li>How integrating your story into your business can get your customers working to help you.</li> <li>Struggles with employees and how to deal with them.</li> <li>How to overcome fear and finally get started with your business.</li> <li>How brutal honesty with your customers can take your business to the next level.</li> <li>The importance of letting go and allowing others to help you.</li> </ul> Links and Resources <ul> <li>Check out Christy’s website <a href="http://www.christywebber.com/" rel="noopener noreferrer nofollow" target="_blank">here</a>.</li> <li><a href="https://www.handymanstartup.com/landing/handyman-marketing-machine/" rel="nofollow" target="_blank">Handyman Web Academy</a> Info (Now called Handyman Marketing Machine)</li> </ul> As always, thanks for listening!  And a special thanks to Christy Webber for joining me on the podcast and sharing her story to help others succeed. <a href="https://itunes.apple.com/us/podcast/handyman-startup-podcast-small/id626614764?mt=2" rel="noopener noreferrer nofollow" target="_blank">CLICK HERE</a> to subscribe to the podcast on iTunes. <h2>Comments or Questions</h2> Did you find Christy’s story inspiring?  If so, let me know in the comments below.  Then, sign up for my e-mail newsletter to get updates when future episodes are released. The post <a href="https://www.handymanstartup.com/mowing-lawns-to-32-million-in-revenue-with-christy-webber/" rel="nofollow" target="_blank">HS 015 – How To Go From Mowing Lawns to $32 Million In Revenue With Christy Webber</a> appeared first on <a href="https://www.handymanstartup.com" rel="nofollow" target="_blank">Handyman Startup</a>.

HS 015 – How To Go From Mowing Lawns to $32 Million In Revenue With Christy Webber

As a home service professional, developing new skills to keep up with the competition is necessary.  For handymen, learning new skills is basically our job description. Not only is learning new skills important, but learning how to learn new skills efficiently is getting ever more important.  We are now in what is commonly known as the information age.  That means it is easier than ever to get starting with your business, but it also means that more people have access to quality information.  That means more competition. This tells me that in order to get ahead and pull away from the pack, developing a system for learning rapidly could mean the difference between success and failure. In this podcast, I discuss:  4 methods for developing your home repair skills. How I gained my handyman experience and skill set. My method for developing new skills (while getting paid). 3 Tips to accelerate your learning process.  This podcast was designed to help you develop your home repair skills, but the methods described are applicable to any skill. Enjoy! The post How To Learn Any Skill And Get Paid To Do It appeared first on Handyman Startup.

As a home service professional, developing new skills to keep up with the competition is necessary.  For handymen, learning new skills is basically our job description. Not only is learning new skills important, but learning how to learn new skills efficiently is getting ever more important.  We are now in what is commonly known as the information age.  That means it is easier than ever to get starting with your business, but it also means that more people have access to quality information.  That means more competition. This tells me that in order to get ahead and pull away from the pack, developing a system for learning rapidly could mean the difference between success and failure. In this podcast, I discuss: <ul> <li>4 methods for developing your home repair skills.</li> <li>How I gained my handyman experience and skill set.</li> <li>My method for developing new skills (while getting paid).</li> <li>3 Tips to accelerate your learning process.</li> </ul> This podcast was designed to help you develop your home repair skills, but the methods described are applicable to any skill. Enjoy! The post <a href="https://www.handymanstartup.com/how-to-learn-any-skill-and-get-paid-to-do-it/" rel="nofollow" target="_blank">How To Learn Any Skill And Get Paid To Do It</a> appeared first on <a href="https://www.handymanstartup.com" rel="nofollow" target="_blank">Handyman Startup</a>.

How To Learn Any Skill And Get Paid To Do It

Welcome to my May 2013 monthly income report!  I’ve been writing these reports each month since I started my business and this marks my 18th month in business as a handyman.  1.5 years baby! For those of you that enjoy my podcast, good news!  This month, you can listen to my monthly report as I’ve featured it on the Handyman Startup Podcast.  You can find it in the itunes store or listen to it directly from this page (bottom of page).  Enjoy, and don’t forget to subscribe and leave a review! In these reports I share my income for each month, how I made that money, how much it cost to make that money, and anything interesting that happened along the way.  I also share tips to help you dominate the home service industry. If you are first time reader of the blog, I’m not rich (yet :)).  In fact, this is my first business and I still have a lot to learn.  However, I’ve successfully created an income stream that supports my lifestyle doing something that I enjoy and have complete freedom over.    I used to work as a mechanical engineer and absolutely hated what I did.  Somehow, I mustered up the courage to quit and start something on my own.  It was the best career decision I’ve ever made.  Now, I’d like to help you create the same level of freedom that I’ve created.  May was an awesome month for my handyman business.  I continued to grow my client list despite the fact that I limited my schedule to only 3 days a week and have put zero effort into advertising in the last several months.  Not only did I gain customers, but I was more profitable than I have been since January of this year.  Old customers that I thought I’d lost were even calling me for more service. Schedule Upgrade – Part 2 I’m really exciting about this… In last month’s income report, I discussed limiting my workdays to only 3 days a week.  I did this so I could pack my schedule into less days giving me more time to work on this website and a product that I’m working on.  My goal was to only schedule customers on Monday through Wednesday while answering the phone the rest of the week.  Now that I’ve been doing this for over a month, I’d like to share my results, which are pretty awesome. Previously, I’d been scheduling jobs throughout the week and even work an occasional weekend.  When I did this, I’d leave a ton of time in between jobs just in case one of my jobs ended up taking longer.  Additionally, I would usually schedule one job a day until I filled up a week and then start stacking jobs up once I had a job for each day booked.  This naturally led to a lot of downtime in between jobs where I wasn’t making money or doing anything else productive.  I was wasting a LOT of time. Now, with my new schedule, I only schedule jobs Mon-Wed and pack the jobs much closer together.  This takes a little more finesse to avoid scheduling mis-haps, but it’s way more efficient.  I’ve scheduled up to 5 customer in a single day so far – a significant increase over the the 2 I’d have scheduled before.  Take a look at the pictures below to see the difference between the two schedules. Example of a weeks schedule using my old scheduling method. (16.5 Billable Hours) A weeks schedule using my new method. (21 Billable Hours) As you can see, my old scheduling method wasted a lot of time in between jobs and took up the entire week.  My new method of scheduling doesn’t waste much time between jobs and packs the same amount of work into just three days!  So I’ve managed to work less days and make just as much money. Another benefit of this is that I’m now consistently scheduled out at least one week.  That means I know exactly what I’m doing for the entire next week and allows me to make fewer trips to Home Depot.  If I do everything right and plan accordingly, this could reduce my trips to the hardware store by half. Sound enticing?  Why not apply this to your business and have more free time to spend doing other things you enjoy? It’s The Busy Season Spring is THE time for home improvement projects.  Just go to Home Depot next Saturday and you’ll see what I mean. With my handyman business it was no different.  Sometimes it felt like I couldn’t get away from the phone for 5 minutes without it ringing.  Since I’m only working 3 days a week, I ended up turning down a lot of business.  In fact, I could have easily done another 2 to 3 grand in work if I was as hungry as I was last year. While constantly answering the phone can get annoying at times, there are some good side effects of being too busy. One, I could be much more selective about jobs.  If a customer lived too far away or was asking for work that I don’t like to do, I would just turn them down.  I’d either say that I didn’t service their area or that I didn’t do that kind of work.  Existing customers are an exception to this, however.  If a customer is willing to hire me over and over, I’ll do my best to help them whenever I can. Secondly, I could bid a little higher on jobs without having to worry about losing the business.  If I didn’t get a job, I was sure I could fill my time with another.  If I did get the job, I made good money doing it. Last year, I also did very well in the month of May.  Even though it was only my 6th month in business, I was able to bring in $5,300.  It had to work a whole lot more than I do now to get make that, but I was still able to make really good money because there is so much business during spring time. Times may be good now, but… Don’t Get Too Cocky Even though things are going awesome right now, I can’t let myself get too confident. When business is going this good, it’s really easy to think you have everything figured out and that it will always be this way.  Just like when things are really slow and you wonder if they’ll ever pick up.  Like I’ve said before, it’s a roller coaster of emotional highs and lows. And just like not letting the slow times get to you, it’s also important not to get too cocky when business is flourishing.  This could lead to getting sloppy with customer service or not treating clients the way they should be treated.  This has happened to me in the past and trust me, I regretted it during the slower periods. I’ve found that if somebody is your ideal client, you should do whatever you can to service them to a high standard.  But, this doesn’t mean you should serve everybody.  Wasting your time on the wrong customers will lead to failure just as fast as not treating the good clients well. Either way, it’s important to realize that there are other people that are willing and able to swoop in and take your best clients.  No matter how busy you are, always provide the same quality of service and treat everyone with respect. Income and Expenses Income:  Existing Customers:  $2,457.25 Search Engines:  $2,640 Referrals:  $489  Expenses:  Direct Job Costs: $999.35 Phone:  $69.82 Mileage:  $245.78 Insurance:  $94 Tools:  $39.62  Total Income:          $5,586.25 Total Expenses:        $1448.57 Net Profit:            $4,137.68  (last month:  $2,882.19) Billable Hours:  70.5 Income from Labor:  $4,486.97 Average Hourly Rate:  $63.64 I’m not sure it can be any more ideal than this (other than making more per hour).  I was able to stick to my 3 day a week schedule and still have the second most profitable month of the year. Sure, I could have made more money if I work all 5 days, but like I’ve said a thousand times before, money is not my only goal.  I can always make more money, time is the one thing I can’t make more of. Some of the numbers that I find really interesting here are my income numbers compared to my vehicle mileage.  By reducing the number of days I work, It looks like I’ve also been able to reduce the ratio between driving and working.  Not really sure how, but the numbers don’t lie.  This was the cheapest month in terms of vehicle mileage out of the whole year. In addition to the fact that packing jobs closer together is more efficient, I think that turning down jobs that were too far away was a contributor to the decrease in driving.  Also, I turned down jobs that seems like they were a waste of time (even if they were close) instead of driving out, quoting, and then not getting the job. Overall, I think the change I’ve made to my schedule was a great choice and I plan to continue with this schedule to see how it works out. Monthly Goals This month I met both of my goals – To maintain a $60/hour rate and to only work 3 days a week.  Feels good when it works out that way. But, how can I make this business even better and more enjoyable? I’m thinking the next step is to limit my service area for new clients.  I figure that by making my service area smaller and smaller I will save a ton of time and will be more profitable.  I’ll always continue to service my existing clients even if they live outside of that area, but maybe I can filter out new clients with this method?  I guess it’s worth a try. I don’t think it’s a smart move to just jump into this big of a change head first.  So, my goal for this month is to investigate the possibility. The post My Monthly Report – May 2013 appeared first on Handyman Startup.

Welcome to my May 2013 monthly income report!  I’ve been writing these reports each month since I started my business and this marks my 18th month in business as a handyman.  1.5 years baby! <blockquote>For those of you that enjoy my podcast, good news!  This month, you can listen to my monthly report as I’ve featured it on the Handyman Startup Podcast.  You can find it in the itunes store or listen to it directly from this page (bottom of page).  Enjoy, and don’t forget to subscribe and leave a review!</blockquote> In these reports I share my income for each month, how I made that money, how much it cost to make that money, and anything interesting that happened along the way.  I also share tips to help you dominate the home service industry. If you are first time reader of the blog, I’m not rich (yet :)).  In fact, this is my first business and I still have a lot to learn.  However, I’ve successfully created an income stream that supports my lifestyle doing something that I enjoy and have complete freedom over.    I used to work as a mechanical engineer and absolutely hated what I did.  Somehow, I mustered up the courage to quit and start something on my own.  It was the best career decision I’ve ever made.  Now, I’d like to help you create the same level of freedom that I’ve created.  May was an awesome month for my handyman business.  I continued to grow my client list despite the fact that I limited my schedule to only 3 days a week and have put zero effort into advertising in the last several months.  Not only did I gain customers, but I was more profitable than I have been since January of this year.  Old customers that I thought I’d lost were even calling me for more service. <h2>Schedule Upgrade – Part 2</h2> I’m really exciting about this… In last <a href="https://www.handymanstartup.com/my-monthly-report-may-2013/" rel="nofollow" target="_blank">month’s income report</a>, I discussed limiting my workdays to only 3 days a week.  I did this so I could pack my schedule into less days giving me more time to work on this website and a product that I’m working on.  My goal was to only schedule customers on Monday through Wednesday while answering the phone the rest of the week.  Now that I’ve been doing this for over a month, I’d like to share my results, which are pretty awesome. Previously, I’d been scheduling jobs throughout the week and even work an occasional weekend.  When I did this, I’d leave a ton of time in between jobs just in case one of my jobs ended up taking longer.  Additionally, I would usually schedule one job a day until I filled up a week and then start stacking jobs up once I had a job for each day booked.  This naturally led to a lot of downtime in between jobs where I wasn’t making money or doing anything else productive.  I was wasting a LOT of time. Now, with my new schedule, I only schedule jobs Mon-Wed and pack the jobs much closer together.  This takes a little more finesse to avoid scheduling mis-haps, but it’s way more efficient.  I’ve scheduled up to 5 customer in a single day so far – a significant increase over the the 2 I’d have scheduled before.  Take a look at the pictures below to see the difference between the two schedules. Example of a weeks schedule using my old scheduling method. (16.5 Billable Hours) A weeks schedule using my new method. (21 Billable Hours) As you can see, my old scheduling method wasted a lot of time in between jobs and took up the entire week.  My new method of scheduling doesn’t waste much time between jobs and packs the same amount of work into just three days!  So I’ve managed to work less days and make just as much money. Another benefit of this is that I’m now consistently scheduled out at least one week.  That means I know exactly what I’m doing for the entire next week and allows me to make fewer trips to Home Depot.  If I do everything right and plan accordingly, this could reduce my trips to the hardware store by half. Sound enticing?  Why not apply this to your business and have more free time to spend doing other things you enjoy? <h2>It’s The Busy Season</h2> Spring is THE time for home improvement projects.  Just go to Home Depot next Saturday and you’ll see what I mean. With my handyman business it was no different.  Sometimes it felt like I couldn’t get away from the phone for 5 minutes without it ringing.  Since I’m only working 3 days a week, I ended up turning down a lot of business.  In fact, I could have easily done another 2 to 3 grand in work if I was as hungry as I was last year. While constantly answering the phone can get annoying at times, there are some good side effects of being too busy. One, I could be much more selective about jobs.  If a customer lived too far away or was asking for work that I don’t like to do, I would just turn them down.  I’d either say that I didn’t service their area or that I didn’t do that kind of work.  Existing customers are an exception to this, however.  If a customer is willing to hire me over and over, I’ll do my best to help them whenever I can. Secondly, I could bid a little higher on jobs without having to worry about losing the business.  If I didn’t get a job, I was sure I could fill my time with another.  If I did get the job, I made good money doing it. Last year, I also did very well in the month of May.  Even though it was only my 6th month in business, I was able to bring in $5,300.  It had to work a whole lot more than I do now to get make that, but I was still able to make really good money because there is so much business during spring time. Times may be good now, but… <h2>Don’t Get Too Cocky</h2> Even though things are going awesome right now, I can’t let myself get too confident. When business is going this good, it’s really easy to think you have everything figured out and that it will always be this way.  Just like when things are really slow and you wonder if they’ll ever pick up.  Like I’ve said before, it’s a roller coaster of emotional highs and lows. And just like not letting the slow times get to you, it’s also important not to get too cocky when business is flourishing.  This could lead to getting sloppy with customer service or not treating clients the way they should be treated.  This has happened to me in the past and trust me, I regretted it during the slower periods. I’ve found that if somebody is your ideal client, you should do whatever you can to service them to a high standard.  But, this doesn’t mean you should serve everybody.  Wasting your time on the wrong customers will lead to failure just as fast as not treating the good clients well. Either way, it’s important to realize that there are other people that are willing and able to swoop in and take your best clients.  No matter how busy you are, always provide the same quality of service and treat everyone with respect. <h2>Income and Expenses</h2> Income: <ul> <li>Existing Customers:  $2,457.25</li> <li>Search Engines:  $2,640</li> <li>Referrals:  $489</li> </ul> Expenses: <ul> <li>Direct Job Costs: $999.35</li> <li>Phone:  $69.82</li> <li>Mileage:  $245.78</li> <li>Insurance:  $94</li> <li>Tools:  $39.62</li> </ul> Total Income:          $5,586.25 Total Expenses:        $1448.57 Net Profit:            $4,137.68  (last month:  $2,882.19) Billable Hours:  70.5 Income from Labor:  $4,486.97 Average Hourly Rate:  $63.64 I’m not sure it can be any more ideal than this (other than making more per hour).  I was able to stick to my 3 day a week schedule and still have the second most profitable month of the year. Sure, I could have made more money if I work all 5 days, but like I’ve said a thousand times before, money is not my only goal.  I can always make more money, time is the one thing I can’t make more of. Some of the numbers that I find really interesting here are my income numbers compared to my vehicle mileage.  By reducing the number of days I work, It looks like I’ve also been able to reduce the ratio between driving and working.  Not really sure how, but the numbers don’t lie.  This was the cheapest month in terms of vehicle mileage out of the whole year. In addition to the fact that packing jobs closer together is more efficient, I think that turning down jobs that were too far away was a contributor to the decrease in driving.  Also, I turned down jobs that seems like they were a waste of time (even if they were close) instead of driving out, quoting, and then not getting the job. Overall, I think the change I’ve made to my schedule was a great choice and I plan to continue with this schedule to see how it works out. <h2>Monthly Goals</h2> This month I met both of my goals – To maintain a $60/hour rate and to only work 3 days a week.  Feels good when it works out that way. But, how can I make this business even better and more enjoyable? I’m thinking the next step is to limit my service area for new clients.  I figure that by making my service area smaller and smaller I will save a ton of time and will be more profitable.  I’ll always continue to service my existing clients even if they live outside of that area, but maybe I can filter out new clients with this method?  I guess it’s worth a try. I don’t think it’s a smart move to just jump into this big of a change head first.  So, my goal for this month is to investigate the possibility. The post <a href="https://www.handymanstartup.com/my-monthly-report-may-2013/" rel="nofollow" target="_blank">My Monthly Report – May 2013</a> appeared first on <a href="https://www.handymanstartup.com" rel="nofollow" target="_blank">Handyman Startup</a>.

My Monthly Report – May 2013

In this session of the Handyman Startup Podcast, I share five of my most valuable time saving tips that I use every day in my business. As a handyman or other home service provider, you get paid for your time.  Time is a form of currency, with one major difference from other currencies – you can never get more time. That being said, it’s obvious why saving a few seconds, minutes, or even hours each day is extremely valuable – in fact, it’s priceless! That’s why I’ve decided to share these 5 tips with you so you can enjoy the many benefits of more time.  Who doesn’t want more time? Here are some of the highlights of this podcast:  5 easy to implement time saving tips that you can start using today. Why saving time is so important to not only your free time, but the growth of your business. BONUS TIP:  A tool I use everyday to literally save hours each week.  (hint:  It’s less than $20)  Mentioned in this podcast:  My marketing course for handymen.Click Here to learn more. Tim Ferriss blog post on saying no.  The post 5 Time Saving Tips That Will Shave Hours Off Your Work Week appeared first on Handyman Startup.

In this session of the Handyman Startup Podcast, I share five of my most valuable time saving tips that I use every day in my business. As a handyman or other home service provider, you get paid for your time.  Time is a form of currency, with one major difference from other currencies – you can never get more time. That being said, it’s obvious why saving a few seconds, minutes, or even hours each day is extremely valuable – in fact, it’s priceless! That’s why I’ve decided to share these 5 tips with you so you can enjoy the many benefits of more time.  Who doesn’t want more time? Here are some of the highlights of this podcast: <ul> <li>5 easy to implement time saving tips that you can start using today.</li> <li>Why saving time is so important to not only your free time, but the growth of your business.</li> <li>BONUS TIP:  A tool I use everyday to literally save hours each week.  (hint:  It’s less than $20)</li> </ul> Mentioned in this podcast: <ul> <li>My marketing course for handymen.<a href="https://www.handymanstartup.com/landing/handyman-marketing-machine/" rel="noopener noreferrer nofollow" target="_blank">Click Here</a> to learn more.</li> <li><a href="http://www.fourhourworkweek.com/blog/2013/07/31/why-and-how-creative-people-need-to-say-no/" rel="noopener noreferrer nofollow" target="_blank">Tim Ferriss blog post on saying no.</a></li> </ul> The post <a href="https://www.handymanstartup.com/5-time-saving-tips-that-will-shave-hours-off-your-work-week/" rel="nofollow" target="_blank">5 Time Saving Tips That Will Shave Hours Off Your Work Week</a> appeared first on <a href="https://www.handymanstartup.com" rel="nofollow" target="_blank">Handyman Startup</a>.

5 Time Saving Tips That Will Shave Hours Off Your Work Week

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