Home Repair Handyman Businesses: An Evergreen Business Opportunity
Home repair handyman businesses are evergreen work from home opportunities and hold much scope forever income, if performed correcly. They require low startup costs and they are high-growth, recession-proof businesses.
Today’s busy lifestyle plus the norm of both spouses working leave a lot of people with no time and energy to undertake minor repairs or small remodels, regardless of whether they have the skill-sets and tools needed to undertake tasks including installing a lock, hanging an easy fixture, fixing the leaky faucet, repairing scratches on wood panels, along with the like. This provides the handyman, somebody skilled in an array of home repairs and repair of minor nature, with numerous opportunities. Bigger contractors would not have the time for such minor works or maybe works for instance building a porch, providing ample scope for home repair entrepreneurs.
What helps to make the home repair handyman businesses doubly attractive is the fact nearly 75 percent of homes from the United States have ended 20 years old, and the majority of them require repairs and renovations. The Harvard University’s Joint Center for Housing Studies estimates that US households spend $126 billion on household repairs annually, while using figures growing four percent annually.
A small-scale home repair handyman business holds possible ways to earn $800-$1000 every week when done full-time with around a 25-hour billable schedule.
Image Credit: flickr.com/eyeofeinstein
The home repair and handyman business entrepreneur ought to be familiar with basic repair and maintenance tasks including repairing broken doorknobs, hanging towel racks, installing closet organizers, installing lights, installing ceiling fans, fixing small holes inside hole, fixing window panes, fixing dripping faucets, miscellaneous painting jobs as well as others.
The entrepreneur requires practical job knowledge even though planning to sub-contract the jobs, for that entrepreneur really has to guide, direct, supervise the project, and part of if the assigned sub-contractor doesn’t turn up at all. Success depends upon establishing a standing of tidy work and professionalism.
Another main factor driving success on the town repair handyman industry is the entrepreneur’s organizational skills. The entrepreneur should:
Continue to Page 2 for information about how to start your personal handyman business.
The concentration when starting any home based industry is securing legal registration. An at-home home repair handyman business would invariably become a sole Proprietorship that won’t require registration and is not thought to be a separate legal entity. The business however require license in the local county office. Some areas have zoning regulations that prevent or restrict home businesses.
Applying for your contractor’s license and also the handyman business license through the local county office provides legitimacy towards the business, increases a professional look, and enables if confronted with lawsuits. Several states require separate licenses and insurance for each individual handyman and bar them from major plumbing, electrical wiring or gas-fitting projects for safety reasons.
Insurance is necessary for that home repair handyman business. The best insurance coverage is a property damage liability policy that covers harm to client property on account of negligence or accidents. Sole proprietors can set-off the price of family health care insurance against business profits when filing taxation statements.
The tools necessary to get started include
The startup costs for home-based home repair handyman businesses cost approximately $1000 excluding the18 wheeler and tools.
Handymen charge either on hourly basis or on piece-rate basis, determined before the job starts. The entrepreneur can decide on either approach, but call for a fixed rate card to convince the customer. The entrepreneur, while fixing prices should neither excessive to become prohibitive for clients, or charge too less ensure it is difficult recouping capital and expenses. A good approach towards price fixing is benchmarking the rates of other providers within the area and offering some reduced premiums for repeat and regular customers.
The best advertisement to the handyman customers are satisfied customers who spread this company through person to person. Success in the early stages before establishing a person base however will depend on advertisements. Low cost advertisement options include recommendations advertising inside the neighborhood, placing notices at local grocers, within the car wipers at parking lots, making the most of free classified ads, pr releases, plus the like.
Finally, success depends upon perseverance to get rid of the odds and remaining motivated to take care of the challenges while they come.
Image Credit: flickr.com/publik15
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