See if starting a handyman business is worth it! We highlight key pros and cons so you can make the best decision with all the facts at hand before starting a handyman business.
Table of contents
- Pro: Startup Costs Are Low
- Con: Work is Sometimes Seasonal
- Pro: It Doesn’t Have to be Full Time
- Con: There is a Lot of Red Tape
- Pro: You Can Find Partners to Give You Business
- Con: Jobs Come with Short Notice
- Pro: Expansion and Franchise Opportunities
- Con: You Need to Stay Fit and Healthy
- Pro: You Work For Yourself
- Con: Pricing Can be Challenging
- Ensure Business Success With A Digital Solution
- Bottom Line On Starting A Handyman Business
For any person with the required talents and skills, starting a handyman business can be a lucrative and rewarding venture. After all, not that many people are particularly good at fixing things around the house, especially big projects that tend to be a little complicated.
Of course, just because you know how to start a handyman business and have the skills to succeed doesn’t mean that it’s the kind of life you want.
There are plenty of pros and cons to starting a handyman business.
Whether you make that leap or not will often come down to whether it fits what you want out of your life and career. To give you a better idea of whether this is for you, let’s take a closer look at some of the pros and cons of starting a handyman business.
Pro: Startup Costs Are Low
Depending on the circumstances, the startup costs for starting a handyman business can be relatively low. Presumably, you will already have many of the tools and equipment you need to be a handyman in your possession. You should already have the know-how and experience to use these tools, so you won’t need to invest in a lot of equipment.
Likewise, the overhead expenses for a handyman business are typically low. You’ll be performing most of your work at the homes of other people, so you don’t need a big office space.
If you know how to start a handyman business, you might be able to run it out of a home office and a truck where you keep your equipment, which means you can get a business off the ground relatively quickly and without a massive financial investment.
Con: Work is Sometimes Seasonal
Depending on your skills and expertise, you may only be starting a handyman business that runs seasonally. Work can sometimes be part-time, at least for some handymen. For instance, if you fix air conditioners, you’re not going to get a lot of business in the winter.
There are plenty of other specialties that will only be in high demand for part of the year. That means you need to perform enough work while your specialty is in-season to support yourself for the entire year. Otherwise, you either need to expand your skillset or find another job in the off-season.
Pro: It Doesn’t Have to be Full Time
Of course, something that could be a con for some is actually a benefit for others. It’s possible to start a handyman business with the intention of it being a part-time job for you. Some people will even start a handyman business when they retire as a way to make money and stay busy without having to work full time.
As long as you don’t take too many jobs and know-how to manage your growth, your handyman business doesn’t have to dominate your life. You can make it whatever you want it to be.
Con: There is a Lot of Red Tape
There are some handymen out there who enjoy doing the work but don’t want to worry about all of the other aspects that come with running a business. Those that fall into this category; understand that starting a handyman business takes a lot of work. In addition to managing schedules and worrying about payments and bank statements, there is a lot of red tape.
Depending on the city and state where you’re operating, you might need to obtain certain licenses or permits in order to work. You also have to worry about getting insurance to protect your business from any mistakes or accidents. For some folks, these issues are too much and not worth the effort. Rather than starting a handyman business to run by themselves, they can just get a job working for someone else.
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Pro: You Can Find Partners to Give You Business
With the right connections and a little bit of luck, some handymen have no difficulty in starting a handyman business and bringing in work. At times, they almost have too much work. But that just means the money is going to keep coming in, and they just need to keep working.
Handymen can sometimes work with real estate agents on homes that need a lot of remodeling, or they’ll work with a certain homeowners association and take care of the needs of a certain neighborhood of homeowners.
While there are no guarantees that they can find a situation like this right off the bat, with a little networking, it becomes easy to find enough business to support yourself and perhaps even hire a few people who can work for you and increase revenue.
Con: Jobs Come with Short Notice
Again, something that seems like a good thing to one person can be a burden for another. Part of the problem that some handymen find is that they are too much in demand. Some jobs can come on short notice because a homeowner has an emergency that needs immediate attention. This can force you to reorganize your entire schedule, even pushing back jobs that you had scheduled in advance.
Of course, it’s usually a good thing to be in demand and have people that want or require your services.
However, customers can get upset if you have to move things around and can’t always make time for them, which can create another problem that can make starting a handyman business a little more complicated.
Pro: Expansion and Franchise Opportunities
It may not happen overnight, but competent and successful handymen often have an opportunity to expand their business. It starts with hiring others to work under you but can easily expand to having a presence throughout an entire state or region. By that point, you become more businessman than a handyman, which often comes with plenty of perks.
Con: You Need to Stay Fit and Healthy
The physical demands of owning and operating your own handyman business are nothing to scoff at. The work can be demanding at times, especially if you have to work long hours while performing physical labor. It can take a toll on your body after a while, potentially impacting your health and quality of life down the line.
It’s also a necessity to keep yourself in good physical shape, which can mean exercising and maintaining a healthy diet. In other words, you have to be fully committed to a certain lifestyle that allows you to run a successful handyman business.
Pro: You Work For Yourself
There’s always something to be said when you get to work for yourself. It’s freeing answering to yourself, and of course, your customers. When you start your own handyman business, you get to choose everything. You can pick the jobs that you want to work and pass on any jobs that aren’t worth the hassle.
There will be challenges along the way because owning a business is far different from being employed by one. But there’s something special about a situation when the buck stops with you.
Con: Pricing Can be Challenging
One of the biggest challenges that handymen face when they start their own business is coming up with the right pricing model.
All of your customers will want quality work done, but they’ll also want it done as cheaply as possible. At the same time, you need to worry about your overhead costs and put a price on the time and skill it takes to perform certain jobs.
There are fees like mileage, insurance, and equipment upkeep that customers don’t always recognize as an added cost to you that causes you to charge higher fees.
If you don’t charge enough, you may not make enough to support yourself and keep your business running. In the beginning, it’s a thin tightrope to walk, but it’s all part of the fun of starting a handyman business.
Ensure Business Success With A Digital Solution
If the pros outweigh the cons, then it’s key that you use the right digital solution to ensure business success.
Why? It allows you to go paperless, automate day-to-day procedures, create clearer processes, enhance compliance, boost internal communication, and generally scale your business. What’s the best digital solution in the market? Connecteam! Here’s why.
- Easily create shifts with drag and drop
- Add shift information like tasks, maps, notes, PDF, etc.
- GPS stamps every time you clock in and out – easily avoid buddy punching and time theft
- Track and manage employee work hours, time spent on jobs, driving or buying supplies
- Digital checklist and forms on the go – safety checklist, hazard reports, etc.
- Seamless integration with Quickbooks Online and Gusto payroll
- 1:1 or group chat to keep everyone on the same page
- Easily find contacts with an in-app directory
- Get feedback with surveys, live polls, or suggestion box
- Store company policies, regulations, equipment manuals, safety procedures, etc. in the app for easy, direct access
- Desktop and mobile access
With the Connecteam software, you can rest easy knowing that your crew has everything they need right in the palm of their hand! It’s that much easier for them to optimize their day-to-day operations and do the best job possible!
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Bottom Line On Starting A Handyman Business
At this stage, you have all of the information you need to know if starting a handyman business is the right choice. Weigh the pros and cons before making your decision.
And if you decide to take the plunge, don’t forget about implementing efficient technology to help you get the job done. After all, it’s the 21st century!
Streamline Daily Operations With Connecteam
All the features you need in a single solution