Things to Consider Before Starting a Handyman Business
As a handyman, you're in a unique position to start your own business. You have the skills and experience to get the job done right, and you don't need a lot of start-up capital. However, you should consider a few things before starting your handyman business in Medford. Below, Stokhaus Media shares tips on how to begin.
How to Get Your Business Up and Running
First, research the competition and identify any potential customers in the area. Next, develop a business plan, and set realistic goals. Purchase insurance to protect the business from liability, and stock up on supplies and tools.
A business' structure can affect how taxes are paid and liabilities are incurred. One option is to form an LLC. Besides offering tax benefits, such as avoiding double taxation, an LLC involves far less paperwork and offers limited personal liability. File yourself or use a formation service to prevent expensive lawyer fees, but check your state's regulations before forming an LLC, as each state has its own procedures and rules.
Laws and Permit Requirements
Before starting any business, knowing the applicable laws and permit requirements is crucial. Failure to learn about these can result in significant fines and legal penalties. In Medford, for example, a handyman business must obtain a business license from the city clerk's office. The company must also have liability insurance to protect customers from accidents or injuries.
Choosing a Niche
When starting a handyman business, choosing a niche market is a good idea. Not only can it be more enjoyable, but it may also be more profitable. Specialization helps you focus your marketing efforts and attract the right kinds of customers. Some factors to consider when choosing a niche market include:
The needs of the community you're serving. What kinds of repairs are most needed?
Your skills and interests. What kinds of repairs are you most interested in doing?
Your competition. Who else is already serving this market, and what can you do differently?
By choosing the right niche market, you'll set your business up for success from the start.
Finding Clients
You can find clients in a few ways. Set up a website to promote your business, and use a well-designed logo on your site to convey your business' vision. Another option is to solicit referrals from your existing clients. They're likely to recommend you to their friends and family if they're happy with your work. Also, consider getting listed on online directories, such as Angi or HomeAdvisor.
Helpful Apps and Software You Can Use
Certain apps and software can help you optimize and grow your business. Here’s an option: use construction cost estimating software. This software lets you easily add material and labor costs and create customer payment schedules. Additionally, you can forward estimates directly from the job site and send automated email reminders if estimates aren't approved.
Plan for Success
As you can see, starting a handyman business isn't as difficult as it may seem. Just be sure to research, plan, and get the necessary licenses and permits. By following the steps outlined above, you can be well on your way to success.
Build your business brand with help from Stokhaus Media.