How Much Money Can You Make As a Handyman In 2023 (Complete Guide)
So, how much money can you make as a handyman? Can this be a business idea or a great side hustle idea? If you want to learn if the handyman business is for you, read on! We will discuss various ways for you to start up a small handyman business on the side and then scale it to a full-grown handyman company. One of the best and easiest ways to make money as a handyman is to start your business as a side hustle.
Did you know that I have loads of guides on how to make money with different tools? If you don’t, you should check them out! I recommend these guides because one of the easiest ways to start your handyman business is to begin with something small and scale it up to something big using various kinds of tools.
If you want to know more about “how much money can you make as a handyman,” you should keep on reading!
What Is a Handyman And What Do a Handyman Do
A handyman is a person who specializes in a business that takes care of the daily oversight of residential, commercial or industrial real estate. Usually you are hired by a landlord or a company that owns the property to help with different facilities and various smaller jobs regarding maintenance.
In general, a handyman takes responsibility for day today repairs, ongoing maintenance, security, and upkeep of properties.
A handyman knows several different skills that require working with their hands and tools.
They repair leaky faucets, garden work, install ceiling fans and light fixtures, snow shoveling, paint jobs, lay tiles or wood floors. Some can also do minor work on air conditioning or heating systems and may sometimes repair minor exterior building issues.
They usually sell their services to landlords, smaller companies and people who are in need of a helping hand.
Is a Handyman a Good Business To Start?
Short Answer: Yes! The economy is growing, our society is becoming less and less handy and people are outsourcing more of their lives every day.
I bet you came to this article because you wanted to know if there is money to be made as a handyman or you have read my guides about the different tools that can make you money!
With everything that is going on in the world and everything getting more and more expensive I bet you are starting to feel that the shortage of money is starting to affect you. That’s why you are looking for ways to get a few extra bucks in.
I do explain a lot in my guides so this will be some repetition but one of the best and easiest ways to earn money is actually to start a smaller side hustle where you offer your services to friends, neighbors and people in your community.
A handyman business is a really good way to do so, because people are short on time and always need a helping hand.
This business model I’m writing about is aimed towards doing services for clients such as outdoor maintenance like lawn mowing, snow clearing, cutting down bushes, yard cleaning, removing junk and keeping the yard clean and good looking.
But it also applies to any kind of handyman business.
Handyman Business Plan Step-by-Step
A lot of people don’t know where to start when it comes to a handyman business, and that’s why it is hard to start a company without any experience and that is why I made this step-by-step business plan for starting a handyman business:
- Research and Plan:
- Research the handyman industry and market in your area
- Identify your target market and target audience
- Develop a list of services you will offer
- Create a unique selling point and competitive advantage
- Set financial projections and revenue goals
- Develop a Business Structure:
- Decide on the legal formation and ownership of the business
- Obtain any necessary licenses and permits
- Obtain insurance to protect your business
- Create a Marketing and Sales Plan:
- Identify the most effective marketing strategies for your target market
- Develop a pricing strategy that is competitive but allows for profitability
- Create a website and social media presence
- Network with other businesses and professionals in your area
- Establish Operations and Management:
- Create a schedule for daily operations and tasks
- Assemble a management and leadership team
- Develop an organizational structure that will ensure efficient and effective operations
- Prepare Financial Projections:
- Create detailed sales and revenue projections
- Estimate operating expenses and costs
- Perform a break-even analysis to determine when your business will become profitable
- Create financial statements and cash flow projections
- Launch Your Business:
- Implement your marketing and sales plan
- Start providing services to your target market
- Continuously monitor and adjust your business plan as needed
- Seek funding or investment as needed.
- Evaluate and Expand:
- Continuously evaluate your business performance and make adjustments as needed
- Look for opportunities to expand and diversify your services.
This is a basic guide on how to do it, ofcourse this involves some kind of research on the field but this is a great checklist for you to work with when just starting up.
My recommendation for starting out is to start out as a side hustle, with a side hustle I mean that you should start offering smaller services like mowing lawns after working hours or weekends or even if you have other tools like cutters or wedges that would also be a great way to start earning money.
If you want to get started I suggest you check out my guide about different tools that can make you money becase this will give you a lot of great ideas on what you could do and how to get started but I also want to give you a short guide on how you could start out your handyman sidehustle.
Becoming a handyman as a side hustle can be a great way to earn extra income while also utilizing your skills and interests and here are some steps to take to become a handyman as a side hustle:
- Assess your skills: Identify the skills you have that can be used as a handyman. These may include carpentry, plumbing, electrical, painting, or general home repairs.
- Get familiar with your local regulations and permits: Many states and municipalities have regulations regarding handymen and home repairs. Make sure you understand the laws and regulations in your area so you can comply with them.
- Gather tools and equipment: As a handyman, you will need a basic set of tools to perform repairs and maintenance. Determine what tools you already have and what you will need to purchase.
- Network with other professionals in the industry: Building relationships with other professionals in the industry can help you get more work and learn more about the business.
- Start advertising your services: Create flyers, business cards, and a website to promote your services. Also, you can use social media platforms to advertise your services and reach more potential clients.
- Get insurance: Get insurance coverage to protect yourself and your clients in case of accidents or injuries that may occur during your work.
- Get reliable references: Ask satisfied customers to provide references and testimonials that you can use to promote your business.
- Keep learning: Keep up with the latest techniques and trends in the handyman industry to stay competitive and provide the best services to your clients.
Can You Make Money Being a Handyman
Short answer: Yes you can make money as a handyman!
There actually are quite a few ways to make money as a handyman but you have to be able to offer those products and be aware of them when you talk with your clients.
Ways To Make Money And what Services Do a Handyman Offer
Here is a good list of different kinds of services and jobs you can do and offer as a handyman.
These are the most profitable handyman jobs.
- Leaking plumbing is a common problem most people have and that’s something you could easily help out with, usually you just have to get your hands dirty.
- Garden work is a customer service people often want help with.
- Light fixture installations is something you could do if you have certain knowledge in this, but remember that you need an electrician to check up on your work if you don’t have a license.
- Rent out equipment that helps house owners take care of their properties by themselves.
- Drywall repair is a common thing people want help with in their homes.
- Paint jobs are a great job for a handyman, both on the outside and inside.
- Exterior repairs and upgrades is usually a fairly easy job, why hire a carpenter when you can use a handyman!
- Deck repairs is a popular handyman job, over 25% of American homes have a deck.
- Floor repairs might be a complex task but not for a handyman. These jobs are popular jobs that people try to do themselves but end up hiring a handyman for.
- Tile replacement can be tricky to do yourself especially if you have a water resistant layer underneath so it’s a perfect job for a handyman.
- Old door repairs are not something to take lightly, more than often you need to be good with detailed work.
- Services like lawn mowing, snow clearing, cutting down bushes and trees, yard and driveway cleaning, removing old junk, taking care of flowers and doing outside renovating on houses.
As you can see there are a lot of ways that a handyman can operate on. You literally could help out with anything that regular repair workers do in a person’s life.
How Much Money Can You Make As a Handyman
So how much money can you make as a handyman and how much should you charge your customers when you do your handyman work and let me tell you that I have done some studying in this field and there is no exact match on how much you should charge so you have to start out alittle lower than what I recommend and work your way up, se what people can accept ant work out a price that way.
Here are my generall directions when pricing our work.
The average income for the handyman job is $44,920 per year.
This is $21.60 per hour or $172.80 per day for eight hours of work.
The top 10% of handymen earn more than $62,400 annually.
This is money you can earn if you have a handyman business.
But What If You Start a Handyman Side Hustle?
First the average salary for a handyman is $44,920 per year.
So now when you have the answer to the average wage for a handyman let’s dive into the side hustle part of the handyman job.
Now if you start your handyman side hustle mowing lawns, doing snow shoveling, doing gardening work or helping out cutting down bushes and trees you might want to know how much you should ask for that kind of job.
The average hourly rate for handyman side hustle it’s something like this.
$15 for light garden work like planting flowers, raking leaves, shoveling snow.
$20 to cut a lawn (using our company mower)
$25 an hour for heavy work like moving shrubbery, major pruning, ladder work, heavy tools, landscaping.
Pros and Cons Starting a Handyman Business
Are you asking yourself what are the pros and cons of starting a handyman business and want help in deciding if it is something for you? Keep Reading!
Here is a list of pros and cons!
- It’s fun and you work for yourself!
One of the most appealing things about this job is that it’s fun. You get to do a lot of things, you meet a lot of nice people and you breathe fresh air every day!
- Learning of essential real estate skills
If you start and master a successful handyman it will give you great experience in what kind of problems real estate owners might face and that is a valuable lesson if you want to start a real estate business yourself.
- It’s relatively easy to start out!
Handyman is a business that can be started with very little to no cash. Often you already have the equipment for the job or the initial investment is low if you offer a few services to begin with.
- Business is growing
There is a high demand for a handyman across the world and with people getting older the market is in more need of people to take care of their properties than before.
- You can earn a good salary
You might not think that there is good money being a handyman but it is. With the right tools and mindset you will earn a good wage each month.
- Work is sometimes seasonal
In the winter it might be harder to find gardening jobs and jobs related to that.
- There is a lot of work
There usually is a lot of work to be done and a lot to know so be ready to be challenged everyday.
- Pricing can be challenging
Most people want help with a lot of different things so it’s hard to know what price range you should be in for different tasks.
- Jobs come with short notice
You have to be able to handle stress really well, jobs come fast and you have to be a flexible person.
- You need to stay fit and healthy
This really isn’t a con but you should be aware that being a handyman is a lot of bodywork. So be ready to be moving all day.
I hope this information about how much money can you make as a handyman has provided that with a better understanding of the earning potentia has helped you make a decision on whether or not to pursue this as a business or side hustle!
If you want to learn more about different types of equipment or how to make money with different tools I recommend checking out my other articles here.