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A Detailed Look at How to Start a Handyman Company

Having another source of income these days is not a bad idea what with current economic conditions. It is also an excellent way to set yourself up with another income-producing job after retiring from your current career. Let us discuss how to start a handyman company. We will look at plans, licensing, record keeping, purchasing, specializing, rates, insurance, advertising, training, and guarantees.

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Planning

If you have handyman skills and can foresee setting up your own company as a viable option, then formulate plans and legalize it. Create a business plan or rough out your plans on paper for your future company. This overview should address hiring potential employees or independent contractors in the future, if they are needed. Listing your goals and how to attain them will make it possible to cover all the necessary basics for a viable business.

Licensing/State/Federal

Each state has different requirements and forms. They may require business licensing, a business name and safety certificates. A business needs to be registered as a LLC, sole proprietorship or a corporation. The IRS requires an EIN or social security number.

Record Keeping

Set up procedures for tracking bills, sales, expenses etc. Use notebook paper or preferably a spreadsheet software program such as Excel or Quicken. Make use of an appointment book where you note all jobs, dates, appointments and completed jobs.

Inventory/Equipment Purchases

List all tools and equipment including transportation that are currently at your disposal for running the business. Create another list of tools and equipment for future purchases with cost estimates for future growth and expansion.

Specialties/Services

Document current specialties or jobs that you wish to offer and any services. This list should include all the handyman jobs that you are proficient in and wish to market as part of your business. Key information from this documentation may be used for advertising, marketing, business cards and future training requirements.

Rates

Research your competition to see what rates they are charging for specific jobs if possible. Handyman services have many variables, which can make comparing rates difficult. Rates will also be determined around potential weekend and evening work as well. Be fair and competitive in pricing rates while still making a profit.

Insurance

As a business, it is imperative that you get insurance coverage for your business and customers. Working in a variety of environments leaves you open to accidents, which could occur and you want to make sure you are covered. Customers need to be assured that you have insurance and any damage occurring as a result of your work will be covered.

Advertising/Marketing

Advertising and marketing your company is critical to success. Providing quality work is at the top of your list, but advertising and marketing is almost as important. With no customers, there is no work. Sign up with the chamber of commerce. Market your skills and services on social networking sites on the internet.

Place advertisements in all the local newspapers and trade publications. Print up and distribute business cards. Contact local hardware stores and arrange to leave business cards and fliers at the checkout stand. Providing outstanding work will get you free advertising from happy customers recommending your services.

Training

Pursue additional training for new handyman services to be offered in the future. Learn from a tradesman, take a course at a community college or check out online courses.

Guarantees/Commitments

When you consider how to start a handyman company, you also need to consider guarantees. A guarantee usually makes potential customers think twice about hiring your services, because it indicates your sincerity for providing a good job. Do not make commitments, appointments or estimates that you cannot keep. Performing the best job possible and treating people with courtesy and respect is a good formula for success.

 

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