Business Idea of the Day: Handyman

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Startup Costs: $2,000 – $10,000
Home Based: Can be operated from residence.
Part Time: Can be operated part-time.
Franchises Available?
No

Online Operation?
No

THE BRIEF

Handymen (and handywomen, too — we’re utilizing “handyman” and not using a gender distinction) go to folks’s houses to repair a variety of issues. Is a kitchen cupboard off its hinges? Electric shops shorting out? Cracks showing in thewalls after final evening’s storm? Who you gonna name? Answer: A handyman — or girl.

“They paint, repair flooring, and work on plumbing, electrical, and air-conditioning and heating systems, among other tasks,” the Bureau of Labor Statistics studies of this occupation. In 2018, provides the BLS, the median pay for a “handyman” was $38,300, or $18.32 an hour (which can be a low estimate; see our handyman’s quotes under.)

Clearly, there may be an never-ending want for handyman providers; people on this section are restricted solely by the extent of their coaching and the state certifications they maintain (i.e., you have to have a plumber’s license to legally work on plumbing points).

ASK THE PROS

How a lot cash are you able to make?

“The lowest, you’d probably make the same as someone working in a fast food restaurant — if you’re just a guy jumping around on a bus or bicycle and they don’t have vehicles. Once they reach a level like mine or higher they’re definitely in the six figures”  — Alan McNair, licensed contractor/handyman and proprietor (doing enterprise in the 5 boroughs of New York underneath the title Got Work?).

What are the startup prices?

“There’re different levels: you’re looking at $100,000 minimum. At my level I have vehicles, I have equipment, supplies, warehouses, manpower, a payroll, licenses. For someone smaller the mandatory legal part is  you have to have half a million dollars of insurance; workers compensations — ar least $2 million — you should have a membership with the Better Business Bureau, not to mention social media and paying somebody to do that for you as well. There’s lots of overhead; you can’t start by just handing out flyers anymore” — Alan McNair

What form of expertise do it is advisable have?

“I would say a school like Apex Technical School or DeVry University’s technical engineering school or a journeyman’s license, which is a license you get for certification by working for a plumbing or electrical supply company; they can certify you as a journeyman” — Alan McNair, licensed contractor/handyman

What’s the most vital factor to learn about this enterprise?

“Having hands-on experience because books don’t teach you anything. The most important thing is expertise: knowing what the problems are, the solutions arae before you get the job” — Alan McNair, licensed contractor/handyman

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