7 Businesses You Can Start Right Now, for Under $1000 by Elisabeth Miazello - HTML preview

Returns

Let’s talk about the financial side. Caleb Ingram, an entrepreneur who started his own handyman business, makes $250,000 a year. How? By charging $100 to $200 per hour for his services and keeping his costs low. Here’s a breakdown of what’s possible:

• Hourly Rate: $100 to $200

• Average Job: 2-3 hours

• Weekly Jobs: 10-15

With these numbers, you can easily see how Caleb reached his impressive income. And remember, you don’t have to do all the work yourself. By outsourcing to subcontractors, you can manage multiple jobs simultaneously, increasing your revenue.

Low Cost: Minimal Investment Starting a handyman business doesn’t require a significant investment. Most of the tools you need can be found in your garage or bought second-hand. Here’s what you’ll need:

• Basic Tools: $200-$500 (drill, hammer, screwdrivers, wrenches, etc.)

• Marketing: $100-$200 (flyers, business cards, online ads)

• Transportation: Use your own vehicle For less than $1,000, you can have everything you need to start offering handyman services. And as you earn, you can reinvest in more specialized tools to expand your services.

Leverage: Outsource and Expand

One of the keys to scaling a handyman business is leveraging your time. By outsourcing tasks to subcontractors, you can take on more jobs and focus on growing your business. This is how Caleb managed to build

a six-figure business without getting

overwhelmed.

Here’s how Caleb did it:

1. Niche Down to a Neighborhood: Caleb focused on Northern Seattle, his local area, to reduce travel costs and build a strong local reputation. This helped him rank on the first page of Google for local searches.

2. Obsess Over Reviews: Reviews are crucial for a service-based business. Caleb used a system like Jobber to encourage customers to leave reviews. Offering small bonuses to subcontractors for getting reviews also helped build his online presence.

3. Add Subcontractors: To scale, Caleb hired subcontractors to handle the physical work.

This allowed him to focus on marketing, client relationships, and expanding his service offerings.

Caleb’s story is a perfect example of turning everyday skills into a thriving business. By starting small, focusing on customer satisfaction, and leveraging subcontractors, he built a business that generates $250,000 a year. His success shows that with the right approach, you can achieve significant financial freedom.

Actionable Steps to Start Your Own Handyman Services Business

Ready to get started? Here’s a step-by-step guide: 1. Gather Your Tools: Start with basic tools that you likely already have. Invest in additional tools as needed based on the jobs you take on.

2. Create a Business Plan: Outline the services you’ll offer, pricing, and target market. A clear plan will help you stay focused and organized.

3. Market Your Services:

Use local

advertising, social media, and word of mouth to attract clients. Create a simple website and list your services on local directories like Yelp and Google My Business.

4. Focus on Customer Reviews: Encourage every customer to leave a review. Offer small incentives to subcontractors for getting reviews, and use a system like Jobber to streamline the process.

5. Hire Subcontractors: As demand grows, start outsourcing tasks to subcontractors.

This will allow you to handle more jobs and focus on growing your business.

6. Scale Up: As your business grows, invest in more tools and expand your service offerings.

Consider hiring a full-time team to handle larger projects and increase your capacity.

Starting a handyman services

business is a practical and profitable way to leverage your skills. With high demand, low startup costs, and the

ability to scale through outsourcing.

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