A handyman business is a business that provides general maintenance and repair services to residential and commercial customers, including plumbing and electrical repairs, appliance installation and repair, painting, and carpentry.
Available statistics show that the revenue of the Handyman Service industry is expected to grow at an annualized 2.0% to $4.4 billion. There are over 91,120 handyman services in the United States. 6.6% of all handymen are women, while 93.4% are men.
How to Start a Handyman Business in Florida
Table of Contents
Conduct Market Research
The first step in the market research process for your handyman business is to develop market-based research questions in line with your overall business goal and objective. In this regard, you should source information that will help you maximize your business, help you know what your potential market will be looking out for from a handyman business, and also help you operate your handyman business with less stress and of course, build the business to profitability.
a. Who is the Target Market for a Handyman Business?
If you are thinking of opening a handyman business, then you should make target demographics all-encompassing. It should include all office facility owners, players in the real estate industry, homeowners, home staging companies, and households in the neighborhood where your handyman business will be located.
b. Is Handyman Business a Profitable Business in Florida?
Yes, the handyman business is profitable. Reports show that the industry is expected to grow at an annualized 2.0 percent to $4.4 billion.
c. Are There Existing Niches in the Industry?
Yes, there are existing niches when it comes to handyman businesses and they are;
- Plumbing Repair
- Drywall installation and repair
- Electrical installations
- Carpentry services
- Appliance installation and repair (TV wall mount installation)
- Flooring installation and repair
- Roofing repairs
- Gutter cleaning
- Kitchen makeover
- Bathroom remodel and Shower remodel
- Attic insulation
- Deck repair
- Door installations
- Fence repairs
- Interior and exterior painting services
- Yard and power tool repair and maintenance
- Building and gardening service.
d. Who are the Major Competitors?
- The Handyman Company Tampa
- J Luxury Handyman Services
- Andromeda Handyman Services
- Johnny Ray’s Handyman Services
- Ace Handyman Services Southwest Florida
- Exclusive Handyman Services
- Affordable Handyman Services Inc.
- JSR Handyman Service, Inc.
- Abbey’s Handyman Services
- TJ Handyman Home Repair & Remodeling Services LLC
- Jeshua’s Handyman Services LLC.
- Hansen’s Handyman Services & Construction
- Brad Curl’s Handyman Service, LLC
- Blevins Ltd Home Solution Inc.
- Universal Handyman Services, LLC
- Guy and Gals Handyman Services
- Martin’s Handyman Services Inc.
- Emrose Handyman Services LLC
- RDS Handyman Services
- George Barnes Handyman Services LLC.
e. Are There County or State Regulations or Zoning Laws for Handyman Business in Florida?
No, there are no county or state regulations or zoning laws for a handyman business in Florida, but players in this industry are expected to work with the existing regulations governing similar businesses in the county where their business is domiciled.
f. Is There a Franchise for Handyman Business?
Yes, there are franchise opportunities for the handyman business, and here are some of them;
- Handyman Int’l. LLC
- The Honey Do Service Inc.
- Handyman Pro
- Klappenberger and Son Painting & Handyman
- Mister Sparky® Electric
- Andy’s Sprinkler, Drainage & Lighting
- Schneider Shrub and Tree Care
- Handyman Matters Franchise Inc.
- Handyman Connection
- Yellow Van Handyman.
g. What Do You Need to Start a Handyman Business in Florida?
- A Feasibility Report
- Business and Marketing Plans
- Business Licenses and Permits
- Office Facility
- EIN (Employer Identification Number)/Federal Tax ID Number.
- A Corporate Bank Account
- Supplies and toolbox
- Employees
- Startup Capital
Choose a Memorable Business Name
When looking to start a business, before you can begin to file the necessary documents with the constituted authorities or start your website, it is necessary that you come up with a name that you will be recognized with. It is essential that the name you come up with can easily be pronounced, is unique and easily memorable.
Some of the catchy business name ideas suitable for a handyman business are;
Creative Handyman Business Name ideas
- Mike Amigos© Handyman Services Company, Inc.
- Your Call® Handyman Services Company, LLC
- Casio Daniel© Handyman Services Company, Inc.
- House Solutions® Handyman Services Company, Inc.
- Fix™ Handyman Services Company, Inc.
- Randel Morris™ Handyman Services Company, LLC.
- Nani Henry© Handyman Services Company, LLC
- Jeremy Wandel® Handyman Services Company, Inc.
- Promise Austin© Handyman Services Company, Inc.
- Stanley Fredrick© Handyman Services Company, Inc.
- Big Sam® Handyman Services Company, LLC
- Ante Group® Handyman Services Company, LLC
- West Ends™ Handyman Services Company, LLC
- Theo Fixer© Handyman Services Company, Inc.
- Rennes Boyle® Handyman Services Company, Inc.
- Nelson Franklin™ Handyman Services Company, Inc.
- Alder Group™ Handyman Services Company, Inc.
- Wayne Benson© Handyman Services Company, Inc.
- Borman Jones® Handyman Services Company, LLC
- Billy Tilton™ Handyman Services Company, Inc.
Register Your Business
a. What Type of Business Structure is Best for Handyman Business in Florida?
Even though there are several options when it comes to the business structure of a handyman business in Florida, the one that most players in this line of business consider is an LLC. It is common to consider an LLC because providers want to protect themselves from lawsuits.
Please note that an LLC will need an EIN if it has employees or if it will be required to file any of the excise tax forms listed below.
b. Steps to Form an LLC
- Choose a Name for Your LLC.
- File Articles of Organization.
- Choose a registered agent.
- Decide on member vs. manager management.
- Create an LLC operating agreement.
- Comply with other tax and regulatory requirements.
- File annual reports.
c. What Type of License is Needed to Open a Handyman Business in Florida?
- General Business License
- Health and Safety Permit
- Zonal Permits
- Signage Permit
- Operational State Facility Inspections
d. What Type of Certification is Needed to Open a Handyman Business in Florida?
You don’t need any certifications to open a handyman business in Florida. Although most handymen hold a trade qualification, often completed as part of an apprenticeship.
e. What Documents are Needed to Open a Handyman Business in Florida?
- DBA
- EIN
- Business and liability insurance
- Federal Tax Payer’s ID
- State Permit and Building Approval
- Certificate of Incorporation
- Business License
- Business Plan
- Employment Agreement (offer letters)
- Operating Agreement for LLCs
- Insurance Policy
- Online Terms of Use
- Online Privacy Policy Document
- Contract Document
- Company Bylaws
- Memorandum of Understanding (MoU)
f. Do You Need a Trademark, Copyright, or Patent?
If you are considering starting a handyman business in Florida, usually you may not have any need to file for intellectual property protection or trademark. This is so because the nature of the business makes it possible for you to successfully run it without having any cause to challenge anybody in court for illegally making use of your company’s intellectual properties.
Cost Analysis and Budgeting
a. How Much Does It Cost to Start a Handyman Business in Florida?
When it comes to starting a handyman business, the startup cost range from $10,000 to $100,000 and above depending on how much equipment the business owner decides to purchase, the number of employees, and the size of the office and storage facility.
b. What are the Cost Involved in Starting a Handyman Business in Florida?
- The total fee for registering a business in the United States of America – $750.
- Legal expenses for obtaining licenses and permits as well as the accounting services total – $1,200.
- Marketing promotion expenses – $700
- Insurance (general liability, workers’ compensation, and property casualty) coverage at a total premium – $2,400.
- The cost of accounting software, CRM software, and Payroll Software – $700
- The cost for payment of rent for 12 months at $1.76 per square foot in the total amount of – $35,600.
- The cost for office facility remodeling – $5,000.
- Other start-up expenses including stationery – $500
- Phone and utility deposits will cost – ($2,500)
- Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $20,000
- The cost for equipment and start-up inventory – $15,027
- The cost for the purchase of a utility truck: $15,000
- The cost of launching an official website – $600
- Miscellaneous – $2,500
c. What Factors Determine the Cost of Opening a Handyman Business in Florida?
- The size of a handyman’s business
- The choice of location
- The required licenses and permits
- The type of facility
- The cost of hiring and paying a business consultant and attorney
- The cost for branding, promotion, and marketing of the handyman business
- The cost of furnishing and equipping the facility
- The cost of the insurance policy covers
- The cost of registering the business
- Source of your supplies and ongoing expenses
- The cost of recruiting and training your staff
- The cost for the purchase and customizing of uniforms
- The cost of the grand opening of the handyman business
d. Do You Need to Build a Facility? If YES, How Much Will It Cost?
It is not compulsory to build a new facility for your handyman business.
e. What are the Ongoing Expenses of a Handyman Business in Florida?
- Supplies (inventory expenses)
- Utility bills (fuel, internet subscriptions, phone bills, signage and software renewal fees et al)
- Fueling
- Salaries of employees
f. What is the Average Salary of Your Staff?
- Chief Executives Officer (Owner) – $45,000 Per Year
- Admin Officer (Cashier) -$30,000 Per Year
- Handymen – $29,630,000 Per Year
- Truck Driver – $26,100 Per Year
g. How Do You Get Funding to Start a Handyman Business in Florida?
- Raising money from personal savings and sale of personal stocks and properties
- Raising money from investors and business partners
- Source for soft loans from your family members and friends.
Write a Business Plan
a. Executive Summary
Billy Tilton™ Handyman Services Company, Inc. is a licensed handyman services company that will offer a wide range of handyman services. We have been able to secure a standard and well-positioned office facility in a central business district in Inglewood Winter Haven, Florida.
We are set to compete in the highly competitive handyman services industry not only in Winter Haven but also throughout the Florida market. Our workers are going to be selected from a pool of certified and highly experienced technicians and tradesmen.
We will take our workforce through the required training that will position them to meet the expectation of the company and also compete with leading handymen service providers in the United States.
b. Products and Service
- Plumbing Repair
- Drywall installation and repair
- Electrical installations
- Carpentry services
- Appliance installation and repair (TV wall mount installation)
- Flooring installation and repair
- Roofing repairs
- Gutter cleaning
- Kitchen makeover
- Bathroom remodel and Shower remodel
- Attic insulation
- Deck repair
- Door installations
- Fence repairs
- Interior and exterior painting services
- Yard and power tool repair and maintenance
- Building and gardening service
- Other related installation, maintenance, and repair services.
c. Mission Statement
Our mission is to establish a world-class handyman business whose brands will become a household name in Winter Haven, Florida, and throughout the United States.
Vision Statement
Our vision is to become the ‘go-to’ handyman services company in Winter Haven, Florida.
d. Goals and Objectives
The goals and objectives of a handyman business are to provide general maintenance and repair services to residential and commercial customers, including plumbing and electrical repairs, appliance installation and repair, painting, and carpentry.
e. Organizational Structure
- Chief Executives Office (Owner)
- Admin Officer (Cashier)
- Handymen
- Truck Driver
Marketing Plan
a. SWOT Analysis
Strength:
- Excellent operational history
- Attention to detail
- Accurate estimates with no hidden costs
- Experience and trained professionals
- Diverse service offerings
- Excellent customer testimonials.
Weakness:
- Not enough clientele to run at full capacity immediately
- The owner is new to large-scale marketing
- We will need a loan to build our facility and to purchase trucks and equipment
- The owner is currently running the business solo
- Lack of economies of scale.
Opportunities:
- Growing real estate market in Florida
- Build upon existing clientele
- Online market, new services, new technology, and of course the opening of new markets.
Threat:
- Loans diminish profitability until they are paid off
- The first year will be financially tight while we gain customers and pay off loans
- Competition in the area could increase
- Management of employees requires time, money, and efforts
- The transport department could change its regulatory status and decide to enforce strict regulations that can strangulate new businesses.
b. How Do Handyman Businesses Make Money?
Handyman businesses make money by;
- Plumbing Repair
- Drywall installation and repair
- Electrical installations
- Carpentry services
- Appliance installation and repair (TV wall mount installation)
- Flooring installation and repair
- Roofing repairs
- Gutter cleaning
- Kitchen makeover
- Bathroom remodel and Shower remodel
- Attic insulation
- Deck repair
- Door installations
- Fence repairs
- Interior and exterior painting services
- Yard and power tool repair and maintenance
- Building and gardening service
- Other related installation, maintenance, and repair services.
c. Payment Options
- Payment via bank transfer
- Payment with cash
- Payment via credit cards
- Payment via online bank transfer
- Payment via check
- Payment via mobile money transfer
d. Sales & Advertising Strategies
- Introduce your business by sending introductory letters alongside your brochure to households, construction companies, home staging companies, and players in the construction and real estate industry
- Advertise your services in community-based newspapers, local TV and radio stations
- List your business and products on yellow pages ads (local directories)
- Leverage the internet to promote your handyman services company
- Engage in direct marketing and sales
- Encourage the use of word-of-mouth marketing (referrals)
- Leverage the internet to promote your business (when you blog regularly on key issues as it relates to your business, people will consider you an expert in the field)
- Join local chambers of commerce and industries around you with the main aim of networking and marketing your services; you are likely going to get referrals from such networks.
- Engage the services of marketing executives and business developers to carry out direct marketing for you.
Financial Projection
a. How Much Should You Charge for your Product/Service?
There is no fixed cost when it comes to the amount you can charge because there are unique factors that will determine it. But is important to note that a handyman charges $50 to $80 per hour or $320 to $600 per day on average, plus the cost of materials. Common services may have flat-rate pricing, including both the labor and materials.
b. How Much Profit Do Handyman Business Owners Make a Year in Florida?
It depends, but the available report shows that a handyman business owner makes over $44,134 annually in profit.
c. What Factors Determine the Amount of Profit to Be Made?
- The capacity of the handyman’s business
- The types of handyman services they are specialized in
- The location the handyman business is covering
- The management style of the handyman business
- The business approach of the handyman business
- The advertising and marketing strategies adopted by the handyman business.
- The number of years the handyman service is in business
d. What is the Profit Margin of a Handyman business?
The profit margin of a handyman business is not fixed. It could range from 45 percent to 60 percent depending on the size of the contract and the materials needed.
e. What is the Sales Forecast?
Below is the sales forecast for a Handyman business. It is based on the location of the business and other factors as it relates to such startups in Florida;
- First Fiscal Year: $220,000
- Second Fiscal Year: $300,000
- Third Fiscal Year: $350,000
Set Up your Shop/Office
a. How Do You Choose a Perfect Location for Handyman Business?
- The demography of the location especially as it relates to activities in the real estate market
- The demand for services of handymen in the location
- The purchasing power of businesses and residents of the location
- Accessibility of the location
- The number of handyman businesses in the location
- The local laws and regulations in the community/state
- Traffic, parking and security et al
b. What City is Best to Open a Handyman Business in Florida?
- Orlando, Florida
- Lakeland, Florida
- Maimi, Florida
- Lake Wales, Florida
- Lake Butler, Florida
- Tampa, Florida
- Winter Haven, Florida
- Titusville, Florida
- Wildwood, Florida
- Leesburg, Florida.
c. What Equipment is Needed to Operate a Handyman Business?
When it comes to starting a standard handyman services company, you will need a truck (vans), toolbox, and other related equipment that will aid you in carrying out your job. It is important to state that this equipment can be purchased as fairly used if you are operating on a low budget.
Hire Employees
When it comes to hiring employees for a standard handyman business, you should make plans to hire a competent chief executive offer (you can occupy this position), handymen, and truck drivers.
Launch the Business Proper
In recent times, no handyman business opens its door for business without first organizing an opening party to officially launch the business. You can choose to do a soft opening party if you are operating on a low budget or you can go for a grand opening party.
The bottom line is that with a proper launching of the handyman business, you will officially inform people in your city that your handyman service is open for business.
a. What Makes a Handyman Business Successful?
- Choose a good location and office facility to launch the business
- Make sure you offer a variety of services
- Be deliberate with your marketing sales approach
- Encourage the use of word of mouth to promote your handyman business
- Leverage all available online and offline platforms to promote your handyman business
b. What Happens During a Typical Day at a Handyman Business?
- The office is open for the day’s work
- The jobs to be done for the day are reviewed and all the needed materials are put together
- Handymen, materials, and tools are transported to the site where the job will be carried out
- Accounting and admin duties are carried out
- Staff return back to the office and reports for the day are written and submitted
- The business is closed for the day.
c. What Skills and Experience Do You Need to Build a Handyman Business?
- Excellent technical (fixing and repair) skills
- Ability to pay attention to details
- Excellent tools handling skills
- Excellent designing skills
- Excellent project managing skills
- Customer services skills
- Interpersonal skill
- Accounting and bookkeeping skills
- Business management skills
- Bargaining skill
- Work experience in a handyman services company
- Experience in managing people
- Experience in business administration
- Experience in handling projects.