business plan for a handyman

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Handyman Business Plan Sample

NOV.11, 2016

Handyman business plan for starting your own business

Apartment renters and homeowners often need professionals for small maintenance tasks like installing curtains and shelves, pre-fabricated furniture installation, hanging artwork, changing lighting fixtures, AC repair, plumbing, and so on. It is not easy to find qualified experts who can provide such handyman services. If you are interested in starting a handyman business and offering the above services, you should come up with a well-analyzed and written business plan for handyman to seek financing from investors and banks.

Executive Summary

The business.

Handyman Next Door is a professional and licensed handyman repair company established with a well-positioned and maintained office space in LA, California. We are the professional handyman service providers who are aimed to compete in this highly competitive market in our home market Los Angeles and across the US.

Management of Handyman Service

If you are wondering how to start a handyman business , consider adding professional team to your business. Our professional team will include a talented pool of highly experienced and certified tradesmen and technicians with skills in different trades in and across Los Angeles and other parts of the US.

All our team members will be selected with proper trainings and they will be hired to meet the needs of our company and will lead us to stand out as the leading handyman service providers and we will be engaged in maintenance, installation and repair throughout the country.

Customers of Handyman Service

The sample handyman business plan includes the general repair and maintenance services for commercial and residential clients, such as electrical repairs, plumbing, AC repair and installation, carpentry, painting, etc.

Business Target

At Handyman Next Door, we are aimed to come out as one of the top handyman service providers in the US and we will ensure doing everything possible to compete with industry leaders.

Company Summary

Maintenance tasks like AC repair and installation, furniture repair, electrical works, plumbing, etc. have high demands among residential customers all the year round. In this part of handyman business plan examples , explain that you have professionally trained handymen and professionals who are bonded and trained by your company. Also describe how you are networked with third-party vendors like plumbers, electricians, computer techs and others.

Company Owner

When writing a business plan for handyman service , you need to describe who the owner of the company is.

Handyman Next Door has been owned and formed by Cal Wardin. He will be the sole owner of the company with a vast team of professionals. The company is going to incur some start-up costs and basic tools detailed below.

Why the handyman business is being started?

Handyman Next Door is a startup aimed to offer complete handyman service to the residents of Los Angeles and California. Cal Wardin was also engaged in offering such types of services with other organization. With vast and proven knowledge and experience, Cal is aimed to launch his family business as a reasonably priced, trusted, and qualified service provider. If you are wondering how to start a successful handyman business , having a strong base of repeat customers and generating market penetration are the keys.

How the handyman business will be started?

Handyman Next Door is going to build a solid web presence as part of our handyman marketing ideas . The following table includes detailed start-up summary along with needed capital to start operations. Cal is going to start with his own tools for jobs, but he will also need to acquire the following tools and equipments –

• Plumbing tools like snakes, slip wrenches, Teflon tape, nuts, caps, and bolts.
• Electrical tools like wire cutters, gauge meters, several wires, soldering iron, and wire caps.
• Painting materials like paint rollers, paint brushes, air compressor, pneumatic paint sprayer, spackle tools, sand papers, and masking tape.
• Some general tools.
• Pressure washer.
• Power tools like sander, drill, saw, etc.
• Laptop with portable printer for printing invoice

Services for Customers

In order to run a successful handyman business , we are aimed to compete well with top handyman service providers and maintenance, installation and repair companies in the country.

We have put an excellent quality assurance team in place to ensure every installation, repair, and service is provided well to meet and exceed customers’ needs. We will strive hard to ensure Handyman Next Door will not just be renowned in Los Angeles, but also across the US. Here are the following services we have included in our handyman business plan template –

• Drywall installation/repair
• Plumbing repair
• Electrical installations
• Rooting repairs
• Appliance installation and repair
• Flooring installation and repair
• Kitchen remodeling
• Attic insulation
• Bathroom and shower remodeling
• Deck repair
• Fence repair
• Door installations
• Gardening and building service
• Power tool and yard repair and maintenance
• Exterior and interior painting
• Other installation, repair and maintenance services

Marketing Analysis of Handyman Business

If you want to know how to start a renovation company , be sure to analyze the market segment and trends related to it. For example, Handyman Next Door will focus on both online and offline advertising. We will use direct mail campaigns and email marketing to notify all the tenants and homeowners living in our target areas. We will distribute our pamphlets in local newspapers across the major geographic regions of the city. We will also use other marketing techniques, such as posting flyers, online ads, and ads on radio or cable TV in future.

Market Trends

Before opening a handyman business , you need to start doing proper economic analysis to reduce the threats and risks associated with investing in handyman business ideas or starting a business.

When it comes to how to market a handyman business , it is not all about acquiring a well-furnished office space and getting the place equipped. You also need to figure out how to attract customers and how to retain them so they can keep coming back for your services.

Basically, running and starting a handyman service is cost effective, especially when you have well-qualified, well trained and experienced team members. With the quality of work conducted for your customers, you can easily retain your customers and your company should do all the good work which will be spread by words of mouth. Customers will definitely want to recommend your services to their friends and families once you can get the job done well on their properties.

Your ability to provide quality services at competitive prices to the customers will be a major factor considered in the industry. This way, it will be easier for you to retain customers and attract new ones to get more business. The handyman market seems to be viable considering the existing competition in the industry.

Marketing Segmentation

There are basically two different customer groups to segment the market –

Home Owners

• Value of their homes generally range from $150,000 to $650,000
• Around 47% home owners prefer DIY small repairs. They often start the repair themselves and then realize that it’s not their cup of tea. Rests of 53% don’t even start to repair it on their own. They simply call a professional for every small repair.
• Around 62% of homeowners have been the owners for over 2 years.
• Rests of 73% of customers wait until a lot of small problems come ahead before calling a handyman. The reason is simple. They don’t want to bear a huge upfront cost just for small fixes.

Property Managers

• These types of customers usually manage 3 to 20 household units.
• They usually don’t have their in-house team for repair and maintenance to cut down on overhead costs.
• Their monthly rental ranges from $350 to $650.

We conducted a feasibility study and market survey before starting our handyman services in Los Angeles. Hence, we understand that there is a huge range of individual and corporate clients who need handyman services on daily basis. With that in mind, we have come up with certain strategies which would help us to reach out to several households and corporate organizations we know that they would need our services. Here are some of the individuals and organizations who we can target –

• Blue chip companies
• Insurance companies, banks, and other financial institutions
• Corporate clients
• Real estate developers, owners, and contractors
• Government organizations
• High schools, universities, colleges and other educational institutions
• Sports facilities
• Households and individuals
• Religious organizations

Product Pricing

Customers usually prefer who they know. They either call a contractor or handyman they know or they ask their neighbors or friends for recommendation. They often stay with their service provider until they get dissatisfied with their service. Cal is planning to dominate the market with words of mouth referrals which is done usually by exceeding the expectations of every customer.

Considering the economies, larger contracting companies are expected to offer better rates on hourly basis. But most of the large companies offer different specialized services, which need a lot of skilled workers and tools, which also increase their overhead and billable rates.

Highly Efficient Service

I am incredibly happy with the outcome! Alex and his team are highly efficient professionals with a diverse bank of knowledge!

Marketing Strategy

Our website will serve our customers as a basic catalog of services. We would list different skills our team has, and a range of referrals and testimonials on our site. It will be effective to help unsure visitors who haven’t heard about Handyman Next Door.

In order to attract traffic, Search Engine Optimization would be the cost-effective way to organically grow our web business. We can help people who are looking for a nearby handyman. It will also include searches of people who know about our organization but want to know more.

Competitive Analysis

Our competitive edge is offering best services at reasonable prices. So, our target customers would be more inclined to call Handyman Next Door whenever any problem occurs.

Sales Strategy

Our sales business strategy would be planned well to convert customers looking for temporary services to the ones choosing Handyman Next Door for different repairs. We would do the same in different ways. We will put a level of professionalism in each repair job. We will also focus on problem areas in home and provide the best solutions.

Sales Monthly

This section of handyman maintenance business plan includes average monthly sales done by Handyman Next Door –

Sales Yearly

This section of our handyman services business plan includes average annual sales done by Handyman Next Door –

Sales Forecast

We have developed a sales forecast in a complete way to help us achieve our sales goals. The following table details the breakdown of sales on the basis of our activities –

Personnel plan

Company staff.

When it comes to start a handyman business , you would need experienced team including senior management staff with experience of over 5 years and competent and qualified experts on the following positions –

• Head, Technical Services
• Sales and Marketing Executive
• HR and Admin Manager
• Client Service Executive
• Handymen (with varied skill sets related to your business)

Average Salary of Employees

The following table describes the average annual salary of each employee and total payroll for the next 3 years –

Financial Plan

Include the following sections on your handyman business plan sample –

Important Assumptions

All the vital financial assumptions for the next three years are listed here in this table –

Brake-even Analysis

The following graph indicates what our company will need and project in monthly revenue to cross the breakeven point –

Projected Profit and Loss

The tables and charts listed below indicate the project profit and loss of our company –

Profit Monthly

It includes the projected profit per month from our services.

Profit Yearly

It describes the annual profit for the next three years.

Gross Margin Monthly

It describes the gross margin on monthly basis for the next one year.

Gross Margin Yearly

It includes the gross margin we are expecting for the next three years.

Projected Cash Flow

Projected Balance Sheet

The following table includes all the assets and liabilities in our projected balance sheet –

Business Ratios

In this table, we are going to explain the business ratios of Handyman Next Door along with industry ratios for household and personal repairs and maintenance.

Download handyman business plan sample in PDF

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Handyman Business Plan Template

Written by Dave Lavinsky

Handyman Business Plan

Over the past 20+ years, we have helped over 500 entrepreneurs and business owners create business plans to start and grow their handyman companies.

If you’re unfamiliar with creating a handyman business plan, you may think creating one will be a time-consuming and frustrating process. For most entrepreneurs it is, but for you, it won’t be since we’re here to help. We have the experience, resources, and knowledge to help you create a great business plan.

In this article, you will learn some background information on why business planning is important. Then, you will learn how to write a handyman business plan step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What Is a Business Plan?

A business plan provides a snapshot of your handyman business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategies for reaching them. It also includes market research to support your plans.  

Why You Need a Business Plan

If you’re looking to start a handyman business or grow your existing handyman company, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your handyman business to improve your chances of success. Your business plan is a living document that should be updated annually as your company grows and changes.  

Sources of Funding for Handyman Businesses

With regards to funding, the main sources of funding for a handyman business are personal savings, credit cards, bank loans, and angel investors. When it comes to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to ensure that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings and bank loans are the most common funding paths for handyman companies.

How to Write a Business Plan for a Handyman Business

If you want to start a handyman business or expand your current one, you need a business plan. The guide below details the necessary information for how to write each essential component of your handyman business plan.  

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your executive summary is to quickly engage the reader. Explain to them the kind of handyman business you are running and the status. For example, are you a startup, do you have a handyman business that you would like to grow, or are you operating a chain of handyman businesses?

Next, provide an overview of each of the subsequent sections of your plan.

• Give a brief overview of the handyman industry.
• Discuss the type of handyman business you are operating.
• Detail your direct competitors. Give an overview of your target market.
• Provide a snapshot of your marketing strategy. Identify the key members of your team.
• Offer an overview of your financial plan.

Company Overview

In your company overview, you will detail the type of handyman business you are operating.

For example, you might specialize in one of the following types of handyman businesses:

• Plumbing Handyman Business: Specializing in light plumbing services such as fixing a water leak or replacing a garbage disposal.
• Drywall Installation Business: Specializing in installation, drywall repair services, and re-finishing drywall.
• Fixture Replacement Business: Specializing in replacing fixtures including cabinetry, ceiling fans, lighting, and kitchen and bathroom faucets.
• Painting Business: Specializing in painting and patching interior and exterior walls.
• Tiling Business: Specializing in tile installation, replacement, and waterproofing.

In addition to explaining the type of handyman business you will operate, the company overview needs to provide background on the business.

Include answers to questions such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include the number of clients served, the number of repeat clients, reaching $X amount in revenue, etc.
• Your legal business Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry or market analysis, you need to provide an overview of the handyman industry.

While this may seem unnecessary, it serves multiple purposes.

First, researching the handyman industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your marketing strategy, particularly if your analysis identifies market trends.

The third reason is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section:

• How big is the handyman industry (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential target market for your handyman business? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: homeowners, property managers, schools, and corporations.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of handyman business you operate. Clearly, individuals would respond to different marketing promotions than corporations, for example.

Try to break out your target market in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the ages, genders, locations, and income levels of the potential customers you seek to serve.

Psychographic profiles explain the wants and needs of your target market. The more you can recognize and define these needs, the better you will do in attracting and retaining your customers.

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Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other handyman businesses.

• What types of customers do they serve?
• What type of handyman business are they?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regard to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you make it easier for your customers to acquire your product or schedule handyman service?
• Will you offer products or handyman services that your competition doesn’t?
• Will you provide better customer service?
• Will you offer better pricing?

Think about ways to establish a competitive edge and document them in this section of your plan.  

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a handyman business, your marketing strategy should include the following:

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your plan, you are presenting the products and/or services you offer and their prices.

Place : Place refers to the site of your handyman company. Document where your company is situated and mention how the site will impact your success. For example, is your handyman business located in a busy retail district, an industrial district, a standalone office, or purely online? Discuss how your site might be the ideal location for your target market.

Promotions : The final part of your handyman marketing plan is where you will document how you will drive potential customers to your location(s). The following are some promotional methods you might consider:

• Advertise in local papers, radio stations and/or magazines
• Reach out to websites
• Distribute flyers
• Engage in email marketing
• Advertise on social media platforms
• Improve the SEO (search engine optimization) on your website for targeted keywords

Operations Plan

While the earlier sections explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your handyman business, including answering calls, scheduling appointments with clients, billing clients, and collecting payments.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to book your Xth client, or when you hope to reach $X in revenue. It could also be when you expect to expand your handyman business to a new city.  

Management Team

To demonstrate your handyman business’ potential to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally, you and/or your team members have direct experience in managing handyman businesses. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act as mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in managing a handyman business.  

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet, and cash flow statements.  

Income Statement

An income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenue and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you see 5 clients per day? Will you offer discounts for referrals? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.  

Balance Sheets

Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your handyman business, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a lender writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.  

Cash Flow Statement

Your cash flow statement will help determine how much money you need to start or grow your business, and ensure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.

When creating your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a handyman business:

• Cost of equipment and office supplies
• Payroll or salaries paid to staff
• Business insurance
• Other start-up expenses (if you’re a new business) like legal expenses, permits, computer software, and equipment

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your office location lease or a list of certifications you’ve obtained.  

Writing a business plan for your handyman business is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will understand the handyman industry, your competition, and your customers. You will develop a marketing strategy and will understand what it takes to launch and grow a successful handyman business.  

Handyman Business Plan Template FAQs

What is the easiest way to complete my handyman business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily write your handyman business plan.

How Do You Start a Handyman Business?

Starting a handyman business is easy with these 14 steps:

• Choose the Name for Your Handyman Business
• Create Your Handyman Business Plan
• Choose the Legal Structure for Your Handyman Business
• Secure Startup Funding for Your Handyman Business (If Needed)
• Secure a Location for Your Business
• Register Your Handyman Business with the IRS
• Open a Business Bank Account
• Get a Business Credit Card
• Get the Required Business Licenses and Permits
• Get Business Insurance for Your Handyman Business
• Buy or Lease the Right Handyman Business Equipment
• Develop Your Handyman Business Marketing Materials
• Purchase and Setup the Software Needed to Run Your Handyman Business
• Open for Business

Learn more about how to start your own handyman business .

OR, Let Us Develop Your Plan For You

Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.

Click here to see how a Growthink business plan writer can create your plan for you.  

Other Helpful Business Plan Articles & Templates

Handyman Business Plan Template & Guidebook

Owning your own handyman business gives you the freedom to control your schedule and make a livable wage while doing what you love. But it takes more than just having the right skills and tools to make it successful; you need to have a plan. The #1 Handyman Business Plan Template & Guidebook can provide the guidance and resources you need to get your handyman business off the ground and running smoothly. With its comprehensive template, helpful guidebook, and easy-to-follow steps, this invaluable tool is an essential resource for any budding entrepreneur looking to start a handyman business.

Get worry-free services and support to launch your business starting at $0 plus state fees.

• How to Start a Profitable Handyman Business [11+ Steps]
• 10+ Best & Profitable Handyman Business Ideas [2023]
• 25 Catchy Handyman Business Names:
• List of the Best Marketing Ideas For Your Handyman Service:

How to Write a Handyman Business Plan in 7 Steps:

1. describe the purpose of your handyman business..

The first step to writing your business plan is to describe the purpose of your handyman business. This includes describing why you are starting this type of business, and what problems it will solve for customers. This is a quick way to get your mind thinking about the customers’ problems. It also helps you identify what makes your business different from others in its industry.

It also helps to include a vision statement so that readers can understand what type of company you want to build.

Here is an example of a purpose mission statement for a handyman business:

Our mission at [Handyman Business Name] is to provide high-quality, convenient and affordable handyman services to our customers so they can enjoy the peace of mind that comes from knowing their home repairs and improvements are in good hands. We strive to achieve this by delivering professional, reliable, timely and friendly service that meets or exceeds expectations.

2. Products & Services Offered by Your Handyman Business.

The next step is to outline your products and services for your handyman business. 

When you think about the products and services that you offer, it's helpful to ask yourself the following questions:

• What is my business?
• What are the products and/or services that I offer?
• Why am I offering these particular products and/or services?
• How do I differentiate myself from competitors with similar offerings?
• How will I market my products and services?

You may want to do a comparison of your business plan against those of other competitors in the area, or even with online reviews. This way, you can find out what people like about them and what they don’t like, so that you can either improve upon their offerings or avoid doing so altogether.

3. Build a Creative Marketing Stratgey.

If you don't have a marketing plan for your handyman business, it's time to write one. Your marketing plan should be part of your business plan and be a roadmap to your goals. 

A good marketing plan for your handyman business includes the following elements:

Target market

• Who is your target market?
• What do these customers have in common?
• How many of them are there?
• How can you best reach them with your message or product?

Customer base 

• Who are your current customers? 
• Where did they come from (i.e., referrals)?
• How can their experience with your handyman business help make them repeat customers, consumers, visitors, subscribers, or advocates for other people in their network or industry who might also benefit from using this service, product, or brand?

Product or service description

• How does it work, what features does it have, and what are its benefits?
• Can anyone use this product or service regardless of age or gender?
• Can anyone visually see themselves using this product or service?
• How will they feel when they do so? If so, how long will the feeling last after purchasing (or trying) the product/service for the first time?

Competitive analysis

• Which companies are competing with yours today (and why)? 
• Which ones may enter into competition with yours tomorrow if they find out about it now through word-of-mouth advertising; social media networks; friends' recommendations; etc.)
• What specific advantages does each competitor offer over yours currently?

Marketing channels

• Which marketing channel do you intend to leverage to attract new customers?
• What is your estimated marketing budget needed?
• What is the projected cost to acquire a new customer?
• How many of your customers do you instead will return?

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4. Write Your Operational Plan.

Next, you'll need to build your operational plan. This section describes the type of business you'll be running, and includes the steps involved in your operations. 

In it, you should list:

• The equipment and facilities needed
• Who will be involved in the business (employees, contractors)
• Financial requirements for each step
• Milestones & KPIs
• Location of your business
• Zoning & permits required for the business

What equipment, supplies, or permits are needed to run a handyman business?

• Tools such as hammers, screwdrivers, wrenches, saws, drills, and ladders
• Protective eyewear and gloves
• Shop vac or wet/dry vacuum cleaner
• Safety signs and barricades
• General liability insurance
• Affidavits of completion
• Business licenses

5. Management & Organization of Your Handyman Business.

The second part of your handyman business plan is to develop a management and organization section.

This section will cover all of the following:

• How many employees you need in order to run your handyman business. This should include the roles they will play (for example, one person may be responsible for managing administrative duties while another might be in charge of customer service).
• The structure of your management team. The higher-ups like yourself should be able to delegate tasks through lower-level managers who are directly responsible for their given department (inventory and sales, etc.).
• How you’re going to make sure that everyone on board is doing their job well. You’ll want check-ins with employees regularly so they have time to ask questions or voice concerns if needed; this also gives you time to offer support where necessary while staying informed on how things are going within individual departments too!

6. Handyman Business Startup Expenses & Captial Needed.

This section should be broken down by month and year. If you are still in the planning stage of your business, it may be helpful to estimate how much money will be needed each month until you reach profitability.

Typically, expenses for your business can be broken into a few basic categories:

Startup Costs

Startup costs are typically the first expenses you will incur when beginning an enterprise. These include legal fees, accounting expenses, and other costs associated with getting your business off the ground. The amount of money needed to start a handyman business varies based on many different variables, but below are a few different types of startup costs for a handyman business.

Running & Operating Costs

Running costs refer to ongoing expenses related directly with operating your business over time like electricity bills or salaries paid out each month. These types of expenses will vary greatly depending on multiple variables such as location, team size, utility costs, etc.

Marketing & Sales Expenses

You should include any costs associated with marketing and sales, such as advertising and promotions, website design or maintenance. Also, consider any additional expenses that may be incurred if you decide to launch a new product or service line. For example, if your handyman business has an existing website that needs an upgrade in order to sell more products or services, then this should be listed here.

7. Financial Plan & Projections

A financial plan is an important part of any business plan, as it outlines how the business will generate revenue and profit, and how it will use that profit to grow and sustain itself. To devise a financial plan for your handyman business, you will need to consider a number of factors, including your start-up costs, operating costs, projected revenue, and expenses. 

Here are some steps you can follow to devise a financial plan for your handyman business plan:

• Determine your start-up costs: This will include the cost of purchasing or leasing the space where you will operate your business, as well as the cost of buying or leasing any equipment or supplies that you need to start the business.
• Estimate your operating costs: Operating costs will include utilities, such as electricity, gas, and water, as well as labor costs for employees, if any, and the cost of purchasing any materials or supplies that you will need to run your business.
• Project your revenue: To project your revenue, you will need to consider the number of customers you expect to have and the average amount they will spend on each visit. You can use this information to estimate how much money you will make from selling your products or services.
• Estimate your expenses: In addition to your operating costs, you will need to consider other expenses, such as insurance, marketing, and maintenance. You will also need to set aside money for taxes and other fees.
• Create a budget: Once you have estimated your start-up costs, operating costs, revenue, and expenses, you can use this information to create a budget for your business. This will help you to see how much money you will need to start the business, and how much profit you can expect to make.
• Develop a plan for using your profit: Finally, you will need to decide how you will use your profit to grow and sustain your business. This might include investing in new equipment, expanding the business, or saving for a rainy day.

Frequently Asked Questions About Handyman Business Plans:

Why do you need a business plan for a handyman business.

A business plan for a handyman business is important for setting clear objectives and developing strategies to reach those objectives. It serves as a roadmap for goal achievement, identifies areas of opportunity and risk, and lays out the structure and resources that are needed to succeed. Additionally, it can be used to attract potential investors or lenders and provides an essential framework for measuring progress.

Who should you ask for help with your handyman business plan?

It is recommended to consult with a business coach or mentor who specializes in small business planning. A financial planner or accountant may also be able to offer assistance, as well as an attorney if legal advice is needed. Your local Small Business Administration (SBA) office may also have resources and information to help you create a solid business plan for your handyman business.

Can you write a handyman business plan yourself?

Yes, it is possible to write a handyman business plan yourself. You will need to do some research into the local market, create a financial model, and determine what services you will offer. Additionally, you should also consider creating a marketing plan, as well as outlining your target market and potential competitors. Ultimately, it is important to be detailed and thorough in order to create an effective plan.

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I'm Nick, co-founder of newfoundr.com, dedicated to helping aspiring entrepreneurs succeed. As a small business owner with over five years of experience, I have garnered valuable knowledge and insights across a diverse range of industries. My passion for entrepreneurship drives me to share my expertise with aspiring entrepreneurs, empowering them to turn their business dreams into reality.

Through meticulous research and firsthand experience, I uncover the essential steps, software, tools, and costs associated with launching and maintaining a successful business. By demystifying the complexities of entrepreneurship, I provide the guidance and support needed for others to embark on their journey with confidence.

From assessing market viability and formulating business plans to selecting the right technology and navigating the financial landscape, I am dedicated to helping fellow entrepreneurs overcome challenges and unlock their full potential. As a steadfast advocate for small business success, my mission is to pave the way for a new generation of innovative and driven entrepreneurs who are ready to make their mark on the world.

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Handyman Business Plan

Fixing small problems around the house, tinkering with stuff, and repairing things to make them work as well as new, might seem a simple job.

But it can only be done by someone who has the skill, eye for detail, and passion for it. After all, these small things can make life terribly inconvenient if not fixed the right way.

If you are planning to start a new handyman business, the first thing you will need is a business plan. Use our sample Handyman Business Plan created using upmetrics business plan software and write your business plan in no time.

Before you start writing your business plan, spend as much time as you can reading through some samples of Cleaning, Maintenance & Repair Business Plans .

Read on to find out more about the industry and important things to take care of before you start your business.

Industry Overview

The handyman services market stood at a global value of 281.65 billion dollars in 2018 and has continued to grow ever since due to the increase in the number of people who look for repair services online.

Handyman services are high in demand due to their multipurpose nature. Most of the services are charged either on a per-hour basis or based on how challenging the job is.

From fixing curtains, and bulbs to maintenance services, a handyman can take care of everything, making their services in demand.

Things to Consider Before Writing a Handyman Business Plan

Find out the market for your services, research your competitors, have handy skills to take up unexpected tasks.

Handyman services are known for and sought after due to their multipurpose nature. Hence, you need to stay prepared for taking up unexpected tasks that come your way. It is necessary to have both the skill and the right equipment for such problems.

Get permits and insurance

Having the proper legal licenses ensures that you stay on the right side of the law. And having insurance is essential for a handyman business due to the nature of the work that brings about claims of accidents and property damage.

Write Your Business Plan

If you have the talent and skill for fixing such problems, you can make it your profession through a handyman business.

All you need to do is find a way to get customers and a handyman business plan.

Reading sample business plans will give you a good idea of what you’re aiming for and also it will show you the different sections that different entrepreneurs include and the language they use to write about themselves and their business plans.

We have created this sample handyman business plan for you to get a good idea about how a perfect handyman business plan should look like and what details you will need to include in your stunning business plan.

Handyman Business Plan Outline

This is the standard Handyman business plan outline which will cover all important sections that you should include in your business plan.

• Market Validation
• Short-Term (1 -3 Years)
• Long Term (3-5 years)
• Mission statement
• Keys to success
• Fixit – 3-Year Revenue Highlights
• Company Ownership/Legal Entity
• Interior Operating Facilities
• Hours of Operation
• Startup summary
• Fixit will offer the following services
• Customer Service
• Market segmentation
• Market Trends
• Fixit Market Distribution
• Competitive Advantage
• SWOT analysis
• Marketing and Promotion Programs
• Positioning Statement
• Marketing Channels
• Pricing strategy
• Organization chart
• Management Team
• Hiring plan
• Important Assumptions
• Brake-even Analysis
• Profit Yearly
• Gross Margin Yearly
• Projected Cash Flow
• Projected Balance Sheet
• Business Ratios

After getting started with Upmetrics , you can copy this handyman plan into your business plan and modify the required information and download your handyman business plan pdf or doc file. It’s the fastest and easiest way to start writing your business plan.

Download a sample handyman business plan

Need help writing your business plan from scratch? Here you go;  download our free handyman business plan pdf  to start.

It’s a modern business plan template specifically designed for your handyman business. Use the example business plan as a guide for writing your own.

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We have plenty of  free business planning resources  available to help you with your planning. You can download our resources to learn all about business planning.

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