How to Start a Handyman Business

Keeping up with home repairs and maintenance is challenging. Not only do property owners need to have the time to make repairs and improvements, but they also need the skill that each task requires. In many cases, they turn to handymen. If you’re skilled in maintenance and repairs, you can turn those talents into a business. With 38% of Brits turning to the handyman trade for employment, it is a hugely popular choice.

Owning your own handyman service means you can work part-time, start slowly and grow that business into a full-time venture. Wondering how to start a handyman business? Find out what skills you need, the different paths you can take, important considerations to keep in mind and how to legally establish your business.

What Is a Handyman?

Handyman businesses offer a variety of maintenance and repair services, encompassing everything from very small tasks to much larger projects. In 2018, the handyman industry was worth over £12.8 billion in the UK.

Handymen are often regarded as being talented in multiple areas of building repair and maintenance — a single handyman may be able to put up drywall, install a tile floor, fix a leaky faucet and much more. When compared to professional contracting services, plumbers and electricians, handymen typically have lower rates, but they also lack the licensing required to do larger projects in these areas. Instead, they’re sought out as an affordable solution when a project doesn’t require a specialist or when a building owner can’t wait for a specialist to become available. Handymen are typically hired by homeowners, but they may also work for property managers.

What Qualifications Do You Need to Be a Handyman?

Starting a handyman service doesn’t require a business degree, but certain skills and experiences can increase the chances of the business becoming a success.

First-hand experience in building repair and maintenance is one of the most valuable assets that a handyman can have. Formal training or apprenticeship in the home-repair trades is another great advantage that will leave a handyman well-prepared for some of the challenges of this career.

• Customer service skills: Handymen need to be able to interact with customers professionally and address customer concerns. Experience or skills in customer service can help to retain returning customers.
• Problem-solving skills: Handymen work on many different projects, and they can never know just what to expect from a job. Thinking on their feet and identifying and solving problems can help them impress customers and do quality work.
• Management experience: If business owners plan to hire a team of handymen or apprentices, previous experience in hiring, training and managing employees will help.

How Much Does It Cost to Start a Handyman Business?

Handyman services are relatively affordable to start, especially since handymen can invest in additional tools and supplies when they are needed. If you’re starting from scratch with no existing supply of tools, you should plan to spend about £5,000 plus the cost of a vehicle.

Common startup costs for a handyman service include:

• Basic tools and equipment, such as tape measures, ladders, drills, saws, pliers, socket wrenches, screwdrivers, utility knives, hammers, stud finders, vacuum cleaners, etc.
• Inventory and supplies for each job.
• Business supplies like invoices and business cards.
• A website.
• A truck or van and possibly a trailer.

How to Start a Handyman Business

If you want to start your own business, you’ll need to create a solid business plan. Establishing a sustainable and successful handyman business means setting the groundwork early on.

Here are several other aspects to consider when writing your business plan:

• Who Is the Target Market?: In this industry, you have a large pool of potential customers to choose from. Most consumers don’t have the knowledge, time or desire to perform home maintenance and repairs. Identify your target audience by considering the type of jobs you plan to take on and the customer base you feel drawn to work with.
• How Much Will You Charge?: Your fees will vary, depending upon the location, size and scope of each project. Some handymen charge a standard hourly rate, while others set their fees on a per-job basis. You will want to outline the price of your services in your business plan so that you can ensure you will be making enough money to cover all your costs.
• Define Your Brand: Your brand is what your company stands for, as well as how your business is perceived by the public. A strong brand and brand name will help your business stand out from competitors.
• Research What Insurance You Need: Just as with licenses and permits, your business needs insurance to operate safely and lawfully. Business insurance protects your company’s financial wellbeing in the event of a covered loss. There are several types of insurance policies created for different types of businesses with different risks. You will need to find out which insurance will be required to cover your business.
• How Will You Market Your Business?: There are a few ways to get maximum visibility for your handyman business, and creating a website can be one of the easiest. It’s a great way for people to find you and examples of the work you can provide for them. Ensure your branding and name is clear so they know who to contact if they like your work.

Other aspects to consider for your business plan are your business model and legal structure, where you will be offering your services, organising a budget plan and designing your recruitment strategy for hiring employees.

Ready to Form Your Handyman Company?

If you are ready to start a handyman business, it’s time to form your company. You can either form a limited company or go the sole-trader route. Deciding and completing your company formation can be the most challenging part of starting a business, but it’s crucial to your success.

Are you ready to start a handyman business? At Mint Formations , we help you form your limited company or self-employed business and take away all the stress that comes with starting a business. We’ll secure your brand name and get your company registered fast so that you can start doing what you love.

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