Use Your Handyman Skills for Profit
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Article by Katie Conroy
A large percentage of business owners don't have a degree in business. In fact, only 26% are college graduates. But what each one of these individuals shares is a desire to work for themselves — and you can do just that with your skills as a handyman. Read on for steps you can take to assist in the process.
Form a Limited Liability Company
Consider establishing a limited liability company or LLC. This business type ensures you, as well as any of your investors, are not personally liable in the event the company fails or is sued. You'll also benefit from the tax advantages that come along with owning an LLC and the decrease in paperwork.
Although you can hire a lawyer for this process, that can come with a hefty price tag. It's often more cost-efficient to file on your own or use a formation service. Before doing so, though, inquire about New York's laws. Each state has its own set of regulations regarding LLC formation.
Use Software to Simplify the Process
Most small business owners work at least 50 hours each week, and about one-quarter of them work over 60 hours. While these numbers may be off-putting, you can reduce the time spent on the management process and focus on the repair end by using software or apps for certain tasks. For instance, you may need construction estimating software. This will enable you to total the cost of your material and labor with little effort. You may also create a payment schedule to alleviate any discrepancies as to when payment is due. You can even figure in the taxes when you send an estimate and create it using a customized template, complete with your logo and other branding elements.
Know the Laws in Your State
Protect your Syracuse, NY handyman venture from any legal implications in the future by looking up New York regulations for your type of business. You don't need any licensing to be a handyman in the state of New York. For Syracuse and Onondaga County, you don't need a license to offer various handyman services, including painting, basic home repairs, and carpentry. But if you want to offer electrical, gas, or plumbing services, you'll need a license.
Understand How to Find Clients
Every dollar spent matters, so you want your marketing efforts to generate results. As a general rule, most people are going to search for a handyman service online. So, focus your efforts on digital marketing, including social media and web content. Sometimes it helps to hire a company for this process if you don't have a background in digital marketing. Take a look at Syracuse Web Design’s comprehensive services.
Choose Your Specialty Carefully
When choosing a specialty, consider your skills. Think about any educational background you have. You may want to further your education by completing an apprenticeship or entering a training program to be able to offer more. You could always open your business and add additional services later.
You Can Turn Your Skills Into Profit
When you have skills in completing home repairs and upgrades, you can turn them into a profitable business. Make sure you plan your business carefully and comply with state laws and regulations.
