For those who love working with their hands, the life of a handyman may be beckoning. This career continues to offer countless opportunities for entrepreneurs with a wide range of skills. In addition, the demand for general maintenance and repair services is also expected to grow through 2030. This translates into a sustainable career with great pay for those in the industry.
If you're debating whether you should trade in your jack-of-all-trades hat for that of a professional handyman, there are certainly plenty of reasons to support doing so. Between having control over your own career and enjoying the feeling of helping people in your community, there are countless pros to consider.
Of course, owning this type of business is also a learning curve. You'll need to figure out how to manage your finances, meet legal requirements, expand your business, manage employees, and so much more. Yet, despite these challenges, you may ultimately decide to join the ranks of the thousands of handymen in the U.S. today and create a lucrative business.
10 Reasons Why You'll Love Being a Handyman
To get a better idea of why so many individuals choose to run a business based on general maintenance, we've put together a list of the top reasons why:
1. The Risks are Manageable
Every business comes with its own unique risks and liabilities. In the handyman trade, on-the-job injuries pose a serious threat to the sustainability of your livelihood. As your company grows, you'll more than likely need to hire additional hands to meet service demands. This is an exciting milestone for your company because its revenue will increase, as does its risk. If one of your team members falls off a ladder while cleaning gutters at a client's home, how will you pay for their injuries?
Fortunately, several business insurance policies are designed to protect your company's best interests when things go wrong. A workers' comp policy will be your saving grace in this situation because it ensures your employee gets the medical care they need right away and replaces their lost wages while unable to work.
To understand workers' compensation insurance cost for your handyman business, speak with a knowledgeable representative for more details.
2. Initial Startup Is Low
One of the biggest barriers to starting any business is the initial upfront investment needed to get it off the ground. While it's true you'll need tools and equipment as a handyperson, the good news is you probably have many of them already. In addition, this instant resource allows you time to start earning and upgrading your toolbox later.
Of course, you still will have to spend on advertising, but even online platforms like Craigslist, Google My Business, and Facebook Marketplace offer low-cost ad options that only take a few minutes to set up.
Also, take advantage of local business directory listings in your area, like at your local Chamber of Commerce. These are generally affordable and will get you in front of potential clients in your service area even faster.
3. You No Longer Punch a Time Clock
The professional freedom of being your own boss can't be overstated. You have complete control over which days you work, the number of hours you'll spend on a job, and the type of work you'll perform. Imagine the direction you can take your business and the opportunities you can take advantage of. In a typical 9 to 5 job, you probably enjoy this level of control.
4. It's a Great Side Gig
Handyman work is a great option if you already have a day job that you enjoy but want to supplement your income with more flexibility. Families and businesses need repairs at all times of the day and night. Offering after-hour repair services can quickly pad your pockets without having to work too many hours! Plus, this is a great way to test out switching your side hustle into a full-time career.
5. Overhead Costs are Minimal
One challenge of owning a business is keeping overhead costs under control to maximize profits. As a handyman, this is less of an issue. Your clients will pay for the cost of materials and tool rentals. Of course, now and then, you'll need to replace a drill or screwdriver, but this should be a rare occurrence. Your biggest expenses will be any required licensing and insurance coverage.
6. Your Services are Always in Demand
Handyman services are essential, much like those of other blue-collar professionals. It doesn't matter what time of year it is or if the economy is in a downturn. When things break, people need them repaired. Having a recession-proof career like this creates an income you can always depend on as long as you have the ability to work.
7. It's Never a Dull Moment Being a Handyman
Having an enjoyable career can be challenging in some industries because things always stay the same. Day in and day out, your job duties remain the same, which can lead to stagnation and boredom. As a handyman, every day brings new challenges and opportunities to learn additional skills. This creates a new level of job satisfaction that many workers can only dream about.
8. Your Skills are Highly Appreciated
Having general repair knowledge may seem like a small accomplishment in your mind, but the average person couldn't figure out how to hang a door or repair a hole in their drywall. Your maintenance experience is a valued skill that helps someone get their home or business back to normal and solves a stressful situation.
Your clients will truly appreciate what you've done for them by fixing a broken window or leaking water heater. It can feel like the end of the world when things go wrong. But your services save their day.
9. You Won't Be a Couch Potato
Handymen have extremely active careers keeping them constantly on the move. So whether your flipping an apartment one day and installing carpet on another, you can be sure you will only need to work out at the gym sometimes.
Maintenance is physically demanding at times. However, you may be surprised how much activity this career adds to your life, which will help keep you looking and feeling fit. In addition, your cognitive skills will sharpen because you'll constantly troubleshoot repair issues.
10. The Pay is Amazing
As mentioned earlier, working as a handyman, even part-time, can be quite lucrative. The more skills you possess, the more you can charge for your work. Couple this with premium rates for after-hour emergencies, and it's not hard to imagine why entrepreneurs in this industry make such great profits off a few jobs a week.
If you want to boost your earnings, definitely develop additional skills in the following areas:
- Floor installation
- General Plumbing
The more services you offer, the more work you can get. So, definitely invest in yourself along the way.
After reading all about why working as a handyman is a smart career choice, it's easy to understand why so many have begun their entrepreneurial journeys in this field. If you plan to take the next step and plan your business in this field, make sure to perform your due diligence and understand the risks involved.
While customer dissatisfaction may be at the top of your list as a source of potential problems, remember safety. This career has a high demand for physical labor and the use of dangerous tools. It's not uncommon to work in hazardous environments that threaten your teammates' well-being, so protect their best interests accordingly with an end-to-end business insurance policy that includes workman's comp coverage. Taking this step will ensure the continuity of your company and avoid the financial devastation of work-related injuries.