According to the Associated General Contractors of America, the construction industry brings in more than $1 trillion in revenue every year. If you want to get in on the potential profit opportunities of this industry, you can start your own handyman business. If you have experience in the field and some business know-how, you could build yourself a successful new company. Here’s how you can get started, presented by ProServices4Home.
Create a New Company
You have to start by officially creating your company. Register your business name with your state’s officials and if required by your location, apply for a federal Employer Identification Number with the IRS. You should also write out a business plan that maps out how you want to run your new company, where you will offer your services, and what kind of customers you plan to include in your strategy.
Structure as an LLC
A small handyman business could get the benefits of being structured as an LLC. An LLC helps you by limiting your personal liability, and it offers tax incentives, more flexibility, and simple paperwork. You can start an LLC using a formation service instead of contracting a lawyer. These agencies know the LLC Georgia rules and will ensure you’re legally compliant.
Choose Your Construction Focus
After finalizing the paperwork, the next thing to do is choose a focus for your handyman business. Aim to work in a specific area of construction that you have experience with, such as carpentry, plumbing, electrical work, HVAC, painting, or welding. This can help you differentiate yourself from your competitors. If you plan to add to your skills, consulting a resource like Welding Logic can be helpful. It’s always a good idea to get a good grasp of the fundamentals when attempting something new.
Acquire the Proper Licenses and Permits
Contractors may also be required to get a license or permit before operating as a business. Look up your state’s specific requirements for contractor licensing before starting your first job. In some states, you’ll need a license to do work. Other states require certification in the field or for the contractor to register with the state.
Market to Potential Clients
In today’s digital age, it’s more important than ever to have an online presence for your business. And one of the best ways to reach potential customers is through social media. Handyman businesses can benefit from using social media in a variety of ways. For example, you can use Facebook to create a business page and post regular updates about your services. Twitter is a great platform for sharing helpful tips related to home improvement, and Instagram is perfect for showing off photos of your work.
Use Industry-Recommended Apps and Software
Your new business can also benefit from industry-recommended apps and software. You can make use of home builder software, for example, to help you better manage and forecast your construction jobs. Using a fully integrated software solution can improve your customers’ satisfaction and increase your profits.
Recruit Talented Workers
Unless you plan on doing every job yourself, you’ll need a team of talented workers by your side. If you want to build repeat business with your customers, your team of workers needs to have excellent work habits and strong customer service skills. Focus on hiring the best and keeping them happy and motivated.
Perform Quality Work
A small business can make a name for itself if it performs quality workmanship. If you focus on one aspect of construction and do it well, you can experience more success. Take time to polish your building skills by taking classes and maintaining your certifications.
You can craft a solid, successful handyman business if you focus on excellent workmanship and customer service. Your business management skills also need to be on point to help your company build a profit. Choose the right business structure, invest in invoicing software, and start marketing your business!