A Brief Guide To Starting Your Own Handyman Business
You've been working as a handyman and have learned how profitable it can be. Starting your own business can be a great way to expand part-time work into your major source of income. The idea of starting a business might be scary, but it's a great way to take control of your work life.
Start Your Handyman Business
A well-thought-out business plan is the foundation of any successful business. Many small business owners think they can work without one, but it's not wise to ignore it. Business plans allow you to budget, forecast, and create a pathway to your goals. Spending the time it takes to anticipatestartup costs, for example, will leave you in a much better position. Identify which services will likely be in greatest demand in your area, and specialize in those.
Remember, your plan doesn't have to be book-length — every business differs in its level of detail. That said, it should at least include the following
• a business description
• an executive summary
• an overview of your competition
• a management plan
• a marketing strategy
• financial forecasts
Get Your Trade License
To make sure you're operating according to local regulations, you'll need to register your business. First, decide whether you want to be a sole trader (also known as being a sole proprietor) or to create a limited liability corporation (LLC). Each has its pros and cons. While being a sole trader may mean less paperwork, registering an LLC protects your assets and potential liability connected with your work. As an LLC, you'll only be liable for the amount you invest and your personal assets will be protected. You'll then get company identification documentation that allows you to do business.
The cost of registering your business as an LLC in Carson is $229.
Getting the Right Equipment
As a construction or repair specialist, you'll want a solid inventory of high-quality equipment. This expenditure should be factored into your business plan. Make sure you keep your receipts so you can file them as a company expense.
Using Software and Apps
There are plenty of useful apps available to help streamline your work process. For example, construction estimating software may help calculate the costs of materials and labor, manage payment schedules, and create customized templates for your brand. You can also use it to account for taxes and send estimates to your clients. All in all, it's a handy tool for a self-employed handyman.
Enabling your website or app to take client payments is another great way to boost efficiency. When you don't need to spend time manually creating invoices, you can focus on the continuity of business growth. It's also a step toward making your business scalable. Be sure to create accessible payment options for your clients. Test it out and ask for client feedback; for example, if your customers want to check their account balance before issuing payments, look for payment systems that allow you to add a balance API for this functionality. These types of APIs can also allow your customers to pre-fund their accounts.
Ready To Take the First Steps?
If you're setting up a handyman business, avoid the temptation to just "wing it." Having an effective business plan and making use of the right apps and software will contribute more than you can imagine. If you're in Carson and want to learn more, join your local chamber of commerce for additional resources.