If you’re a construction worker who enjoys working with homeowners then you may find starting a handyman business to be a profitable venture. But how exactly do you begin a handyman business?
This question has probably been running around in the mind of a number of construction workers for quite some time now. In the early 2000’s, we saw a housing boom and this led to the creation of a number of jobs related to construction. The selling prices were much higher than the costs and townhouses, condos, and houses weren’t coming up quickly enough.
Property values were rising every year and being successful at that time was not that difficult if you were willing to work hard and smart. Unfortunately, the luck ran out in 2008 when everything crashed (mainly because of the mismanagement of Fannie Mae and Freddie Mac done by Barnie Frank). When the housing market collapsed, most jobs that were created by the construction boom vanished. This left a large number of tradesman without a job. Many people from most other industries lost their jobs as well.
Making that Pivot
Contractors then started turning to home repair and home renovation projects. This was the only type of work available to help pay the bills. Most construction workers would prefer handling new construction or commercial work instead of dealing with small repair tasks. But you have to make do with what’s available, don’t you? Now, let’s discuss how to turn this into a business.
The beginning:
As far as starting a handyman business is concerned, you should know it isn’t too difficult. It’s just the first steps that are a little complicated. But once things are up and running, you may find that things come a little more easier to you. Every state has different requirements as far as home businesses are concerned.
There are a plenitude of resources on the net that can help you learn how to start a home business in your state. This is the best place for you to start. Save all the germane information you find and get started on fulfilling all the requirements right away. Do not get tired of using the Internet to help you at this. There is not one business that does not rely on the Internet nowadays (well perhaps a couple).
The main problem:
The biggest issue you are going to face is getting your state license. Now if you’re living in one of the states that don’t need you to be licensed, lucky you, otherwise you’ll need to get yourself licensed. If you do not have to be licensed, make sure you check the limit on the size of jobs which you can accept.
The structure:
Now comes your business structure. You’ll need to determine whether you are opening up a sole proprietorship, an LLC, or a corporation. Corporations are federal businesses, LLC’s are set up at a state level, and proprietorships are the simplest forms of business. If you’re alone or if you run a small operation, you should be okay running a sole proprietorship or an LLC.
Free advice:
Finally, you should never pass up on any free advice offered regarding your business. A simple online search should give you the details of a number of small business consultancies in your state that provide free advice. It is recommended that you speak to them before taking any decisions regarding your business. This will not only help ensure you meet all the legal requirements of your state, but may also give you some brilliant ideas on how you could promote your business going forward.