Establishing a handyman service company can be a profitable venture. On average, a handyman without any employees can earn anywhere from $51,000 to $110,000 a year. While you should keep in mind that this figure is after expenses, it likely seems enticing. So, here are a few tips on how to get started.
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Consider Forming a Limited Liability Company
As you start your company, you must determine the most suitable business structure. For instance, you can choose to have a limited liability company. This business type provides you with limited personal responsibility if a lawsuit should arise. You also reap the reward of tax advantages and flexibility.
When you utilize the service of a lawyer, you pay the cost of the lawyer's time. You, however, can avoid this high cost by filing yourself or using a formation service when establishing your LLC. Before beginning, though, research your state's laws to avoid any legal implications in the future.
Invest in the Right Apps and Software
When you begin a handyman service, you have a great deal to focus on, from hiring employees to devising a marketing plan to acquiring enough funding. And long after you establish your business, you're still going to have a lengthy to-do list each day that oftentimes consists of providing estimates. Why not simplify as much of each process as you can from the beginning? This is when having the right apps and software come into play.
For instance, use construction-estimating software designed for construction and other service professionals. Knowing how much you spend on a project enables you to invoice customers for it accurately. You can also budget more precisely. The software allows you to simply and quickly add up the cost of labor and materials, saving you time and headache. You can use the program to figure out taxes whenever you send an estimate to a client. Some programs allow you to create templates using your brand's logo and color scheme to enhance your branding. The software may even offer a feature to send automated email reminders to nudge your client to approve the estimate if it's been overlooked by the client.
Use the Internet to Your Advantage
Nowadays, people frequently use the internet to search for home service professionals. Without a strong web presence, you might miss out. So, focus on digital marketing efforts as soon as you begin. For example, have a professional-looking website. Create social media pages that you update religiously to keep everyone in the loop as to when you'll be up and running. Also, present the services you provide and tell viewers why they should choose you over another handyman in your area.
Since you'll be doing business locally, geo-target your digital marketing efforts. That way, you can achieve a higher search engine rank than other handymen.
Use Traditional Marketing Like Flyers
Flyers are a great way to market your handyman business. They are relatively inexpensive to produce and can be distributed in a variety of ways, such as through the mail, in local businesses, or by hand. When designing your flyer, be sure to include your contact information, a brief description of your services, and any special offers you may be running. You can design unique flyers quickly with an online flyer maker. Simply choose a template and customize it and then print it out.
Build a Solid Foundation for Success
If you want to open a handyman business, you must lay a solid foundation for your business. By registering your business, investing in software, and using digital and traditional marketing, you can build, grow, and achieve your desired success.
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