Guide to Starting a Handyman Business

People would rather spend time doing things they enjoy than fixing things around the home. That is where a handyman can benefit them. From repairing a leaky faucet, appliance plug or drywall, a handyman can be a great solution to the problem. A handyman business can be lucrative if you have the qualifications and experience.

Guide to Starting a Handyman Business

• Anyone starting a handyman business should have a business plan. This will help the business last longer. The plan should include your objective, marketing strategies, costs, services you will offer and fees.

• Contractor's licenses and permits are required before starting a handyman business. Contact the Board of Contractors in your state to find out which licenses and permit you will need. If you fail to obtain them, you could end up paying enormous fines or face criminal penalties.

• Make sure that you have insurance for your business. Contact your local insurance agent to find out about which insurance policies will benefit your business. The insurance can protect you, your business and clients.

• Come up with an attractive name that people will remember and register it with your state, if it is required. Contact your Secretary of State to learn about registering your business.

• If you have to register your business, you will also have to determine the entity for your business. You may want to consider a Limited Liability Corporation. Contact a certified public accountant for more information on which entity to choose.

• Open a business bank account. You want to keep your personal and business accounts separate for tax purposes. It is also easier to keep track of your business operating costs and profits.
  

• Learn how to use a computer so you can keep track of your expenses and invoices. Using spreadsheets and invoices will be used regularly in your business. You should also consider using accounting software if you are not going to use an accountant for the business.

• See what other handyman businesses are charging in the area. You do not want to set your prices too high to keep customers from contacting you or too low that you do not make money.

• Market your handyman business. Leave fliers and business cards on bulletin boards in home improvement and hardware store. Publish an ad in the local newspaper and phone directory.

• Purchase all of the tools you will need for your handyman business, which will vary according to the projects you will complete. See what tools and supplies other handyman businesses use. You should be able to obtain all of your equipment in home improvement and hardware stores.