October 09, 2023

10 Things I Wish I Knew When I Started as a Handyman

49 minutes

We have been seeing a lot of videos and articles about how easy it is to become and make money as a handyman. We thought we would put out a few thought provoking ideas for you to investigate if you are contemplating changing

careers and becoming a handyman.

SHOW NOTES:

Starting a handyman business can be a rewarding venture, but there are several important lessons and pieces of advice that many entrepreneurs in this field wish they had known when they first started. We broke this into three categories.

Before Starting

Marketing Budget: Allocate

a portion of your earnings to marketing and advertising. Consistently promoting

your services can help maintain a steady flow of clients

Networking: Build a network of other

professionals in related fields, such as plumbers, electricians, and

contractors. Collaborating with them can lead to referrals and partnerships.

Pricing Strategies: Develop

a clear pricing strategy. Consider factors like your expenses, competition, and

the local market when setting your rates. Underpricing can be as detrimental as

overpricing.

Customer Feedback:

Encourage feedback from your customers and use it to improve your services.

Positive reviews can be powerful marketing tools, and constructive criticism

can help you grow.

Customer Service:

Excellent customer service is key to building a successful handyman business.

Communicate effectively, be punctual, and exceed customer expectations to build

a solid reputation.

Your up and running

Documentation: Keep

detailed records of your projects, expenses, and income. This will simplify tax

preparation and help you track the financial health of your business.

Tools and Equipment: Invest

in high-quality tools and equipment. While they may be expensive upfront, they

will save you time and money in the long run. Consider leasing or renting

specialized tools for occasional use.

Time Management:

Efficient time management is crucial. Plan your schedule, prioritize tasks, and

avoid overcommitting. Balancing work and personal life is essential for

long-term sustainability.

Continuing Education: Stay

up-to-date with industry trends and techniques. Consider attending workshops,

courses, or trade shows to enhance your skills and knowledge.

Business

Expansion and Growth

Business Growth:

Be prepared for business growth. As your reputation spreads, you may need to hire additional staff, expand your services.

Fiscal responsibility: Savings and Emergency

Fund: Set aside money for emergencies and savings. The handyman business can have its ups and downs, so having financial reserves can provide peace of mind.

10.

Changing legal entity: Contact

your business professionals (accountant, lawyer) and see if there is advantage to changing business entities (from sole proprietor to LLC or Corporation)

Starting a handyman business requires careful planning and

ongoing effort. Learning from the experiences and insights of others who have walked the same path can help you navigate the challenges and build a

successful enterprise.

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By Larry and John

4.9

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