Why Start a Handyman-Business?

If you love working with your hands, work as a Repairman for someone else handyman-business, or are looking for a great business to start, the market for a handyman-business is larger than you can imagine. According to market research the average home owner spends over $10,000 a year in home repairs and over 70% of the homes in the United States are more than 20 years old.

I read an article in the Wall Street Journal which said, and I’m paraphrasing, that “the cost of home-maintenance over 30 years will be more than 3 times the purchase price of the house.” Wow! Not only are you paying double for the house via your mortgage…but on repairs as well.

Houses fall apart over time and need maintenance just like a boat, manufacturing equipment, car, or bicycle. Think of your car’s engine, its oil needs changing, tires rotated, batteries charged, headlamps replaced… I’m sure you get the point.

Houses are the same...

Wood expands and contracts causing doors to stick or bind, weather stripping dry-rots, holes are accidentally put in drywall or a garbage disposal needs replacing. Not to mention the people that want to update old light fixtures, put in a ceiling fan or garage door opener, install a glass shower door, put up crown molding or paint a room.

More likely is that they wouldn’t have a clue how to fix it anyway! They could go to a home improvement store and get advice, buy a book, then spend the entire weekend (or weekends) trying to fix something. Chances are the experience will be painful enough that they will just call a handyman-business next time. Another demographic reality is that Baby Boomers are aging. The largest single demographic of people is in the 40 – 60 year old age range and they simply can’t do the work they need done to their homes.

You may be asking yourself… “Who are my customers?

They are your neighbors, property management companies, real estate agents, local small businesses, or even another contractor. There are a lot of customers out there!

If you’re good at only one or two specific skills, you can even start a specialty service company, limiting the type of service you offer like installing lament or ceramic tile floors. You can focus on commercial versus residential. You can focus on a small geographic area to limit travel time. You could even tweak this business model to start a specialty painting company.

This business is also recession proof since 90% of your business is coming to the rescue of a home owner with a problem. Your typical bill is $200 or less for a problem that couldn't wait. I mean, if the toilet won’t flush… that’s a problem.

A woman calls to have a leak under her sink repaired prior to her dinner party… that starts in less than 6 hours! Now that’s a problem. The good news for you is she called a plumber first who probably didn’t answer his phone. If he did answer his phone, his minimum charge of $295 and the fact that he couldn’t show up for two more days created a problem. In case you forgot, her dinner party begins in less than 6 hours! The plumber could show up today but he’d charge you time and a half, or even double, since it’s an emergency!

Handyman-Business Considerations