Many people have one question about starting a home-based business: is it worth the time and money? A handyman business is usually more profitable than most because it’s less expensive to start.
A lot of people who have a DIY spirit and like to stay busy with their hands will want to launch a handyman business. A handyman can fix, install, or maintain something in the home or office. They can also do small carpentry, plumbing, remodelling, or other minor construction projects outside of the home.
It costs less than $500 to purchase everything needed for starting a handyman business. Maintaining all of your equipment and tools will cost around $300 annually on average. If you are looking for handyman jobs in Conroe, you can ask around the corner for one.
Who is a handyman? What does he do?
A handyman is someone who can fix things around the house, be it installing a light fixture or changing a tire. This article will explore if it’s profitable to start your own handyman business.
The first thing to do is to decide on how big your service area should be. Some handyman businesses are city-wide and some are small, covering only a few streets in the neighbourhood. If you’re aiming for the big leagues, you may want to consider getting licensed as well.
For instance, if you’re looking to provide plumbing services and want to work with multiple builders in an entire city, then you’ll need an appropriate license from the relevant governing agency (the state’s Department of Consumer Affairs).
Franchises can be expensive but if you’re a handyman, starting a business is much more affordable. You can purchase the skills and tools required to run your own company at a fraction of the cost of buying a franchise.
Pros and cons of starting a handyman business:
PROS:
- The money you invest in the beginning is low if you already have the required tools and assets.
- You can continue your main job and become a part-time handyman, as it does not require you to give your full time.
- Instead of working alone, you can also join franchises and work for them for a regular payment.
CONS:
- Handyman work is mostly seasonal, which may result in several months without any work.
- You need to be in a constant good physical condition to operate as a handyman.
- Some regions have difficult requirements for licensing, as you will have to meet certain criteria.
- You will need proper knowledge of repairing, installation, and plumbing to start the job.