Many people in our corner of New York are likely looking for a handyman. Still, many people are frustrated because they find it challenging to hire reliable individuals to tackle simple building or repair tasks around their homes. Whether they need to install a faucet or assemble a grill, busy people would rather pay someone to do it than do it themselves. If you're looking for an entrepreneurial opportunity that pays well and allows you to work as much or as little as you like, you may find that a handyman business is a lucrative option.
Research opportunities and requirements to help you develop a business plan, which outlines your business goals and how you'll achieve them. Consider some questions to help you get started:
What handyman services do people need?
Who are your competitors?
What licenses or permits do you need to perform specific tasks?
How can you finance your business?
What legal structure do you need to operate?
A sound business plan is also necessary if you plan to borrow money to start your business.
Commingling personal and business finances puts your bank accounts and everything you own at risk. The right business structure keeps personal and business dealings separate. As one example, forming a limited liability company or LLC in NY helps protect your assets during events such as lawsuits or bankruptcy. Setting up an LLC can also help you comply with tax laws. If you’re after reduced self-employment taxes and the ability to claim tax deductions on your company’s financial losses, starting an S corp in NY might be the right move.
You can save money by filing LLC or S corp paperwork yourself without a lawyer’s help or using a formation service. Each state has its own rules for LLC and S corp formation, so check New York’s rules before proceeding.
If your handyman business includes renovations or other construction, you'll want software that calculates the supplies you need and estimates material and labor costs and taxes. A good construction estimating software should also enable you to send estimates from the job site and easily follow up to determine if the job has been approved.
Customer relationship management software helps you organize and update customer information. You can schedule payments and send reminders. You can also create customized templates and send automated messages for marketing purposes.
People can't find you if you run your business from home and don’t have a website. A well-designed, user-friendly website is like a virtual storefront for your business. Your customers can also link to your social media platforms through your website.
Social media platforms can be effective and low-cost marketing tools. If you specialize in outdoor work, such as landscaping or home repairs, posting before and after pictures on your social media site helps potential customers get a feel for your work. You can ask satisfied clients to write reviews or testimonials verifying the quality of your work. Additionally, giving homeowners tips on doing simple repairs around the house can position you as an expert.
Start with research and develop your business plan. Set up a legal structure for your business, create a web presence, and select software to help you stay organized and maintain contact with customers.
Are you looking for great local resources that will give your business a boost in our community? Join the Tompkins Chamber of Commerce!Image via Pexels