Home Repair Business Idea
Strange as it may seem, now is an ideal time to start a home repair business (the housing market was in a slump when this article was written).
As home sales stagnate, people are rethinking their decision to put their homes on the market, and are looking at what home repairs are needed to make their home suitable for a longer period.
Likewise, those who must sell their homes need to make their homes especially enticing for reluctant buyers, so everything must be in tiptop shape.
If you’re handy with tools, home remodeling or repair can make a great home based business.
Getting Started in the Business
To start a handyman business, (or handywoman business), you’ll of course need to be skilled in carpentry, painting and maintenance and have some electrical and plumbing experience. If you’re focusing on a home remodeling business, you may work on home improvements such as enclosing decks, finishing basements, or adding ceiling fans.
If you’re focusing on repairs, you may do more maintenance jobs, i.e., painting rooms, fixing leaky faucets, and replacing tiles or flooring.
Depending on the size of the projects you take to start a home repair business, you may need to be licensed. State regulations vary, but typically if you charge more than a few hundred dollars, you’ll need a contractor’s license. You can check Contractors-license.org to find out the regulations in your state.
In addition, you may want to get bonded. Bonding is a financial guarantee that you will honor the business contract, i.e. that you will do the work you’ve agreed to complete. You can buy this kind of surety bond from bonding agencies.
Keep learning: attend classes at home repair centers or local community colleges for both technical and business knowledge. Network where you can to find out who may need your services.
Marketing Your Home Repair Business
Because your business will be locally based, start a home repair business right around your neighborhood. Create flyers and tie them to mailboxes. If you have a neighborhood association, make sure they know you’re available to do repairs for the neighborhood, and also ask them to list you as a resource.
Make magnetized cards for people to put on their refrigerator. Advertise in local newspapers, especially the free ones. Add a coupon to local coupon books, and make sure your information and coupon is included in your town’s new neighbor welcoming basket.
Start a website that includes before and after pictures of your work, as well as testimonials from your customers.
One of the major complaints about people in the construction industry is timeliness. Be the exception: make sure you are on time for your appointments, show up as agreed, and work as long as expected. Be realistic with your clients on how long a project will take, and update them frequently if there are any changes.
Reliability and good customer service will help spread your good name.
Start A Home Repair Business – Handyman Franchise
Instead of building your business from the ground up, you may want to look into a handyman franchise. You can invest in a company that already has a proven structure, and run it locally.
In addition to basic tools, you’ll need a cell phone or pager and reliable transportation. You’ll also need an accounting system to keep track of payments, and an organizational system to keep track of jobs and orders.
A home repair business could be your tool for financial security.