June 21, 2024
Side Hustles Home Business Ideas

Start a Profitable Handyman Side Hustle

handyman side hustle

Want to start a lucrative side business that allows you to be your own boss? A handyman service may be the ideal home-based business. Here’s a step-by-step guide to launching a handyman side hustle.

Handyman services are in increasingly high demand. According to a recent report by HomeAdvisor, demand for handyman services is expected to grow by 10% in the next five years. This growth is driven by factors like the aging population, more dual-income households lacking time for home repairs, and rising homeownership costs.

This rising demand, combined with the relative ease of starting a handyman business and its profit potential, make it an appealing side hustle option. Unlike other businesses, handyman services require relatively minimal startup costs for tools, equipment, and overhead.

By following key steps around planning, customer acquisition, and business management, you can launch and grow a thriving handyman business. This article will explore how to start your own handyman side hustle and set yourself up for success.

Key Takeaways: How To Launch a Handyman Side Hustle

  • Handyman services are enjoying strong industry growth and profit potential.
  • You don’t need experience to start. On-the-job learning and online resources can provide the skills you need.
  • Create a business plan defining your services, ideal customers, pricing, costs, and processes.
  • Market yourself effectively by leveraging online tools, neighborhood networking, promotions and past customer referrals.
  • Focus on providing reliable, high-quality service so customers hire you again and tell friends.
  • Manage finances meticulously. Tracking income/expenses accurately is vital.
  • Achieve sustainability via expanding service offerings, automation and continuing to build client base.

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Handyman Side Hustle Requirements

To start a handyman side business, you need:

Skills

While formal training isn’t required, basic competency in typical home repair skills helps:

  • Electrical repairs
  • Plumbing fixes
  • Basic carpentry
  • Drywall patching

Customer service abilities matter too. You’ll interact closely with clients, so communication and people skills are vital. Time management and organization skills help you juggle multiple jobs efficiently.

As you gain hands-on experience, you can specialize in higher-earning fields like HVAC, smart home tech, kitchen/bath remodels, etc.

Equipment

To handle common tasks, invest in:

  • Basic hand and power tools – e.g. hammers, wrenches, cordless drills, etc.
  • A reliable vehicle to transport you, tools, and materials to job sites
  • Safety gear – glasses, gloves, dust masks, and work boots
  • Admin supplies – invoices, forms, an online calendar, mileage tracker, etc.

As your business grows, you can add more extensive equipment per the jobs you take on.

Legal/Licensing Requirements

Related handyman licensing and certification prerequisites vary by location, so research your local county/city rules. Typical requirements may encompass:

  • General business licenses
  • Industry-specific licenses for electrical, plumbing, HVAC, etc.
  • Liability insurance – protects you if a client’s property is accidentally damaged

How To Start Your Own Handyman Side Hustle

Follow these key steps to launch your handyman services:

Develop a Handyman Business Plan

Plot out your mission, offerings, processes and finances by creating a basic business plan:

  • Define your services – What tasks will you offer? Consider your skills, interests and equipment/tool ownership.
  • Identify your customers – Typically homeowners needing help with basic repairs/installs/yardwork. You can niche down to a subset like seniors, busy parents, new homeowners etc.
  • Set pricing – Research local handyman rates. Price by project, by hour or by square footage. Include a minimum charge per visit.
  • Make financial projections – Estimate startup/operating costs. Project earnings based on competitive rates and how many clients you can realistically service.

Tip: Use the SCORE resources for handyman business plan templates.

Market Your Handyman Services

Effectively promoting your business is vital to attract clients. Tactics to boost visibility include:

  • Create a brand identity – Logo, slogan, uniform, truck signage and business cards help you look professional.
  • Set up a website – Showcase your services, experience, portfolio and contact options.
  • Register with online directories – Listings on sites like HomeAdvisor connect you to customers seeking handymen.
  • Build local community connections – Introduce yourself and leave business cards at neighborhood hubs like hardware stores, HOAs, etc.
  • Run promotions – Discounts, referral rewards and first-visit deals incentivize new customers.
  • Collect reviews – Positive offline and online customer reviews lend you credibility.

Tip: Download this handyman marketing checklist covering key tasks.

Manage Handyman Business Finances

Staying financially organized is imperative for profitability. Be diligent about:

  • Tracking income/expenses – Using accounting software or spreadsheets to capture every penny flowing in and out.
  • Billing/collecting – Invoice clients promptly after completing work. Follow up on overdue payments. Accept common payment methods – cash, checks, credit cards, digital wallets.
  • Filing taxes – Keep records to handle quarterly estimated income taxes, self-employment tax, W-2s (if you hire), 1099s (for subcontractors), etc.

Tip: Have a separate business bank account and credit card to simplify paperwork.

Grow & Sustain Your Handyman Side Hustle

To build an enduring handyman business, focus on:

Expand Your Services

Over time, broaden the services you offer to attract more clients and revenue streams:

  • Take relevant online classes to add in-demand skills
  • Invest in equipment needed for new task categories
  • Hire subcontractors to deliver specialized services you don’t handle

Increase Capacity

When juggling multiple jobs, bring on support:

  • Employ helpers to take on administrative tasks
  • Use subcontractors to handle work overflow so you can take on more jobs

Streamline Operations

Work smarter, not more:

  • Use consultant scheduler apps to book appointments
  • Create checklists/processes to systematize tasks
  • Set up automatic payment collection for recurring service contracts

Continue Marketing

Consistently market your services via:

  • Ongoing website optimization
  • Active social media engagement
  • Regular email newsletters with helpful home care tips & promotions
  • Door-to-door flyers to new neighborhood residents
  • Yard signs and car magnets advertising your services

Handyman Side Hustle Challenges

When launching any small business, obstacles arise. Arm yourself to tackle typical handyman hurdles like:

1. Unpredictable Income

Workload and paychecks may fluctuate seasonally based on:

  • Home improvement activity slowing in winter months or during economic declines
  • Income surges occurring in spring/summer with higher demand

2. Long Hours

Meeting customer needs often involves working nights and weekends. Institute boundaries around your availability to avoid burnout.

3. Physically Demanding

If you primarily handle labor-intensive tasks like cabinet installations or roof repairs, this can take a physical toll long-term. Focus on developing expert-level skills in less back-breaking areas.

4. Problematic Clients

You’ll inevitably encounter unreasonable customers. Have policies in place addressing payment issues, unrealistic expectations about what work you will/won’t perform or liability for pre-existing defects.

5. Safety Risks

Use proper protective gear, follow security protocols entering homes, and get certified on equipment/chemical handling to steer clear of hazards.

Handyman Business Success Tips

Handyman Business Success Tips

Follow these tips to boost chances of earning solid profits over the long-haul:

  • Track your metrics – Quantify jobs completed, customer acquisition costs, projects by type, busiest months, etc. Use data-driven insights to make strategic business decisions.
  • Request online reviews – Positive website testimonials and NextDoor app comments lend you credibility.
  • Prioritize service quality – Exceeding expectations means repeat and referral business.
  • Return every call/text quickly – Being responsive builds customer loyalty even if you can’t take a job.
  • **Set your rates
  • Set your rates fairly – Don’t undervalue your time, but keep rates reasonable within your market so clients hire you over competitors.
  • Offer senior and volume discounts – Special pricing can clinch jobs when bidding against other handymen.
  • Create ongoing maintenance contracts – Establish relationships as clients’ go-to repair person via quarterly HVAC tune-ups, gutter cleanings etc. These generate predictable revenue.
  • Leverage word-of-mouth referrals – Earned testimonials are the best promotion. Wow each customer so they spread the word about your services.

Ready To Begin Your Own Handyman Side Hustle?

Starting a handyman business allows you to be your own boss, tap into a growing market, and leverage your skills into profits.

This complete guide summarizes all the key steps – from assessing capabilities to launching well to sustaining growth long-term. Pay special attention to distinguishing your business via exceptional service and proactive communication.

Arm yourself to maneuver typical handyman challenges like dealing with fickle workloads or problem clients. Stay vigilant against safety mishaps.

Rather than getting overwhelmed, simply break required tasks down into achievable milestones. Begin developing your brand identity and website while amassing needed tools.

Progress steadily from first customers to streamlining operations. Over time, you can build a thriving handyman enterprise that provides fantastic income.

Ready to take the entrepreneurial leap? Let the handy tips above pave your path to lucrative self-employment. With diligence and passion, your handyman side hustle can be a gateway to both financial and personal fulfillment.

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