Starting a Handyman Business is NOT Risky - Here's Why

Starting a Handyman Business is NOT Risky – Here's Why

if you're considering starting a handyman business or any service business really you probably have some fears holding you back the idea might seem risky and that actually makes sense on an emotional level your brain is designed to fear the unknown but I'd like to share why there's actually very little if no risk at all not only is starting a service business not risky it's likely more risky to continue relying on your day job instead of starting a service business like a handyman business for example now that's because the consistent pay and benefits that comes with a typical job give a false sense of security we confuse consistency with actual security which is only obvious to those who've been laid off or made obsolete in some way but that's actually not what I want to focus on in this video okay now despite the fact that I quit my job a few years back to start a business I'm actually very risk-averse I like to keep a large chunk of cash in the savings I tend to overthink money decisions and I eat a very restrictive diet to reduce the risk of future health problems even when I feel healthy in fact the inherent low risk of starting a handyman business is exactly what drew me in before the idea of a handyman business was even on my radar I had my sights set on starting an internet business I even invested in a mentor to help me get started but after a few weeks I realized my chances of success online were really low so I gave up a while later I decided to start a handyman business even though an internet business is more scalable and has a higher income potential the handyman business was more appealing the first reason is that it only took a small investment to get started since so I'd be doing most of my marketing myself I already had a few tools and a truck to work out of all I needed was a few hundred bucks to get up and running the second reason was that I could generate cash flow almost immediately many businesses may take months or years before you start seeing a profit forcing you to go into debt just to get started okay with the handyman business since costs are so low you could start generating income immediately and since I had already quit my job this was important for me okay the third reason is I didn't need employees or a place to rent even after the business was up and running I wouldn't have to worry about my overhead I could operate out of my house completely by myself no pressure to keep employees busy and I love this feature especially when I want to take a few weeks off to go on a vacation so there's low initial investment quick cash flow and low overhead all signs point to low risk okay but there's one more feature of the handyman business that further reduces the risk and that is that success can actually be expected okay of course nothing is guaranteed but the handyman business is about as close as the sure thing is you can get assuming you follow best practices okay so why is that because it's hard to scale okay now this is really interesting because one of the business's biggest faults is also one of its biggest benefits the very fact that it's difficult to scale makes the business more reliable and predictable ok compare this to many other industries and the reason becomes clear okay for example many people think they just need a big idea to make their business dreams come true okay probably from watching too much Shark Tank but 99% of those big ideas they actually fail miserably costing the entrepreneur his or her life savings if you looked at the tech industry the book published in the industry or most entrepreneurial endeavors you will notice that they're all winner-take-all industries okay that means that out of the thousands of people who try to succeed in these industries only a few companies take all the profit and the rest will fail okay a few of the tech companies will experience massive success while the vast majority will fade into obscurity take smartphone apps as an example there are over 2 million apps in Apple's App Store but only 1% of those are actually a financial success ok a few apps are making over a billion dollars per year while most are lucky to make a few sales per day now that's an example of winner-take-all or look at JK Rowling the author of the Harry Potter series who has sold over 400 million books okay that's insane considering there are tens of thousands of other highly talented authors who will only sell a few dozen books you'll never hear them and they'll never make any real money those are all risky professions to get into because the odds of success are dismal at best skill is important but luck plays a far bigger role the handyman business on the other hand is mostly immune to these winner-take-all effects if you simply follow it works and show up you can actually expect to succeed the odds of success are much higher and if you're smart and talented you'll quickly rise to become a top earner even if there are a hundred other handyman in your city already who are more skilled than you those 100 handyman can only fix so many things in a day that leaves plenty of customers for you and for other people okay unlike books or apps that only have to be written or created once for millions to enjoy each time a room needs to be painted the painter needs to show up and do the work each time a faucet breaks a handyman needs to show up and fix it there's no way one handyman can fix all that work even if he is the best in the world and because of this the rewards are get more evenly distributed instead of a few handyman making millions while the rest starve everyone can generate a healthy income in this industry now of course there are those who make 20k per year and those that make 150 thousand dollars each year but at least the difference between the two doesn't rely solely on luck okay the $20,000 per year handyman can move closer to the $150,000 per year mark with the willingness to learn and with some strategic effort okay so basically because a handyman business is hard to scale it leaves opportunity for a greater than of a number of people and makes it much less risky to get started again success can actually be expected as long as you follow best practices then add all this to the fact that you can start a handyman business on the side to get it established before you ever quit your job and it becomes one of the least risky decisions I've ever seen so if you like fixing stuff or with your hands and helping people and you think the handyman business might be a good fit for you why not just go for it

21 thoughts on “Starting a Handyman Business is NOT Risky – Here's Why

  1. I started working as a handyman calling at my side business. at first it was just a few hundred dollars a month but it quickly morphed into enough income to replace my day job.
    I love working for myself, helping people, in making a lot more money. The biggest part of being a handyman and growing your business is the referral customers you will get. Some of my clients have referred me to a half a dozen other people. That alone makes you feel that you're doing something right.
    No matter where you live in this country there is not a house that doesn't have a door that squeaks or a toilet that you have to jiggle the handle. In other words no matter where you go there will be a job waiting for you as a handyman.

  2. Please also do Lyft and Uber. Use that business FOR your business. Cuz everyone who gets in is a client. Tell them that you're a handyman or that u cut hair on the side. If you bake, carry some goodies as samples. Help guys like this dude promote his site cuz it's good karma since he's doing what he does to help all of you.

  3. Lovely video content! Sorry for chiming in, I would love your thoughts. Have you heard about – Rozardner Successful Handyman Reality (Have a quick look on google cant remember the place now)? It is a good one off product for how to start a handyman business minus the hard work. Ive heard some super things about it and my close friend Aubrey finally got amazing success with it.

  4. I just sat here and calculated the potential of lawn care – a simple business. You would have to work 70-plus hours a week to make a good living.

  5. Handyman is a good one for sure, but most services businesses kind of suck to be honest and I would rather take the risk for a product/brand business.

  6. I recently became a CPA. How hard would you say it would be to start successfully a tax and bookkeeping services firm compared to starting a handyman services business? Is the difficulty comparable? I would probably need an office to meet with clients. I seriously can't handle working for people anymore. Office politics is killing me.

  7. I have been doing this type of work for most of my life. I am now retiring. I like your video. You make some good points. One way you can effectively scale up your business is to expand your definition a bit. Buy some rental properties. My specialty was buying basket cases that most other people did not want. I recently finished a house that a neighbor just told me "There were others who looked at this house, they all said it was a tear down and only worth the price of the lot."
    I indeed got if for the price of the lot but used my skills to completely remodel it. I have made the most money on rehabs like this- and it has been the most rewarding in other ways. On those jobs I have NO boss and can do things the way that I want. Best of luck to you, you are on a good track.

  8. I'm going to quit my job as a Facilities manager Monday. I started it as a side business and it exploded.

  9. Good advice, go for it ! Takes a while to get established and get the word out ,but if you do good work and are reliable you will succeed

Leave a Reply

Your email address will not be published. Required fields are marked *