24 Pros & Cons Of Starting A Handyman Business (2024)

Flexibility

You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.

Little startup costs required

The cost to start a handyman business costs significantly less money than most businesses, ranging anywhere from 62 to 40,565.

Rewarding work

Starting a handyman business can be really rewarding work. After all, you are solving an immediate issue for your customer and you're working on something you truly care about.

Meaningful business connections

You never know who you will meet as a handyman business. This could be the start of an incredible business opportunity!

High margins

The gross margins for your handyman business are typically around 65%, which is considerably high and allows you to grow your business and manage costs easily.

Quick build time

The average time it takes to build your product is quick - typically around 8 months. This will allow you to bring your product to market faster.

Daily physical activity

Handyman Business's typically involve a much greater degree of movement than other lines of work. Most days, you will spend your day walking, running errands for your business, and performing a multitude of tasks. This can have a positive impact on energy levels and your overall health.

You are your own boss!

With starting a handyman business, you are the one to make decisions for almost all of the operations. Calling the shots can be empowering and liberating!

Higher likelihood of getting referrals

This business is all about referrals, which can be a a very impactful way to attract and retain customers. It's critical that you have a great referral program in place that incentivizes your customers to tell their friends about your product.

Face to face interaction

If you are the type of individual that thrives on human interaction, then this is the business for you! With a handyman business, you will be hands-on with customers and or employees every day.

Simple business model

A handyman business has the advantage of a simple business model, which makes launching and building the business more seamless.

Greater Income Potential

With this business, the sky is the limit in regards to your income potential.

Strong Demand & Relatively Recession Proof

The demand for handyman business is increasing year over year and the business is known to be relatively recession proof.

Stressful work

This line of work can be stressful for both you and your clients. This type of transaction is a significant financial decision for your client, so expectations are very high for you. Although this career path can be very rewarding, it also comes with its challenges and stressful moments.

Work can be repetitive

You may find creating the same product over and over repetitive and tiresome. One way of avoiding this is to diversify product lines and revenue streams - this will keep things interesting!

Time commitment

With starting a handyman business, all responsibilities and decisions are in your hands. Although this is not necessarily a negative thing, work life can take over at times. This can place a strain on friends and family and add to the pressure of launching a new business.

Impatient customers

You may offer an engaging user experience for your customer, but customers expect a lot and may be impatient if they aren't pleased with your product or service.

You might struggle financially (at first)!

If you bootstrap your business or choose not to pay yourself (or pay yourself less than you were making at your corporate job), this can be financially taxing. It's important to adjust your lifestyle and set a plan for yourself so you don't find yourself in a stressful situation.

More of a challenge to run your business from home!

Running your business from the comfort of your own home is a big appeal for many entrepreneurs. With a handyman business, you are more likely to run your business out of your office or storefront space.

Work is not always glamorous

With starting a handyman business, you may need to get your hands a little dirty. Although it may seem glamorous from the outside to start this business, the work can require a lot of physical activity and repetition.

The job can be demanding

This is one of the major disadvantages starting a handyman business. It's important to understand that you may need to make yourself available on a 24/7 basis.

Answering Phones

The handyman business is still considered a traditional business, which means answering phones is a big part of the job. If you or your team miss phone calls, you could be missing out on potential revenue opportunities. If you are unable to attend to your phone throughout the day, it would be in your best interest to hire a call center or an employee dedicated to this.

You'll spend a lot of time in the car

Many handyman business offer their services outside of their office or home, which means you'll be spending quite a bit of time behind the wheel. You will also need to consider traffic and delays, which can be time consuming and take each job longer than expected.

The job can be dangerous

Your handyman business can have its dangerous moments, which puts you and your employees at risk. It's important to consider all liability and put processes and procedures in place that will prepare you and your team.