You’ve got the skills. The know-how. The hustle.
But are you getting paid what you’re worth?
Whether you’re a handyman just starting out or a contractor looking to level up, this guide is packed with tips — from building your brand to pricing for profit — designed to help your business thrive.
1. Be your own boss, but don’t try to do it all.
Leaving my staff job to go freelance was one of the scariest things I’ve ever done — but for me also the most rewarding. Becoming your own boss can be a promising first step if you’re aiming to increase your income. But don’t spread yourself too thin by trying to do it all.
To help maximize profits, identify services in high demand that match your expertise. Once you’ve established your niche, you can grow your reputation to become one of the top contacts for a specific task. Many homeowners will pay more for high-quality work. And specializing means you’ll be doing jobs you enjoy.
2. Teamwork makes the dream work.
No matter how much you increase your hourly wage, there’s only so much you can earn as a solo operator. So, if you want to make more money and have more work than you’re able to handle by yourself, it can help to hire some help.
Not sure how to find and keep great talent? We’ve got you covered with our helpful business owner’s guide full of tips on hiring, interviewing, onboarding, and training new employees.
3. Marketing is a must.
As a contractor or handyman, you share a skill set with countless others. To make more money, it can help to stand out from the crowd.
Old-school marketing tools like business cards and in-store flyers can let potential clients know what makes you special. But nowadays, many homeowners first turn to the internet for information and recommendations. Free online listings such as a Google Business Profile can be a powerful way to advertise your business. And sites such as West Hill and Thumbtack make it easy for clients to find pros like you.
For more ways to supercharge your marketing muscle, check out these helpful guides:
How to Use Digital Marketing to Grow Your Business’s Digital Footprint
How Email Marketing Can Really Grow Your Small Business
How to Make a Business Facebook Page
4. Create a website.
Don’t have a website yet? I know, it sounds time-consuming and costly. Before you panic, have a look at this straightforward article on how to create or optimize your website. Prefer some guidance? Our trusted partner, UENI, can help you build a website that works for you and your budget.
5. Network, network, network.
Let me guess — you hate networking. Me too! But my most lucrative jobs have come from conversations with colleagues, friends, and family. These are the people who know and trust you. Talk to them.
Networking can happen anywhere — it’s simply a matter of having a meaningful conversation with the right person at the right time. So get out there and share your story with everyone. And take a look at these networking tips for small business owners.
6. Create word-of-mouth referrals.
Perhaps the most powerful and cost-effective form of marketing is word-of-mouth referrals. This might sound easy, but it takes time and discipline. First, it’s helpful to develop a loyal client base. One potential way to gain loyalty is to under-promise and over-deliver.
If you’re just starting out, try to keep prices reasonable. But no matter what, always provide quality service. Not just on the job, but during the estimate and final billing process. Over time, you will likely build trust and loyalty — the key ingredients for growing your business.
Good customer service will make you stand out from the crowd. Send a thank you note to customers when a job is completed. And don’t hesitate to ask clients to recommend you to friends and family.
For more ideas on how to grow your business, check out our word-of-mouth marketing guide.
7. Bigger isn’t always better.
While it pays to be selective, don’t ignore small jobs. Under the right circumstances, small jobs can be very profitable, especially if you limit those jobs to a small area. It isn’t unusual for a contractor or handyman to earn $50+ an hour1 for specialized work. And if you have a loyal client base, you might be able to establish a higher minimum fee per job.
A series of 30-minute jobs can really add up over the course of a day. This is also an opportunity to expand your client base and develop more word-of-mouth referrals. No matter the size, quality work can lead to a big payout over time.
8. Choosing Mr. and Mrs. Right.
Business is about relationships. And finding clients willing to pay a premium for quality work will be key to your success. Part of assessing a job is getting to know what potential clients value. If someone cares only about price, it might be a sign to walk away from the job.
These customers typically go with the lowest bidder, wasting your valuable time and energy. Clients who seek quality might ask questions about you, your experience, and your process. These are the people who are more likely to help you grow your business. Treat them like gold.
9. Price for profit — you’re worth it!
Clients who value quality may gladly pay a higher fee for good customer service and quality work. If you’re ready to start charging more, take a look at these six steps to figure out your rate. Trust me, you’re worth it!
Not sure you’re ready to raise your rate? Here’s an article to help you set the right price, while ensuring your cherished clients stay aboard.
10. Streamline and cut out waste.
Pricing a project requires an accurate estimate of completion time. This can be tricky, especially when you’re just starting out. Here are a few strategies2 for improving accuracy:
- Track the average time it takes to complete projects to avoid underbidding.
- Next, look closely at how much material you’ve wasted on each job.
- Once you have that data, develop a plan to streamline your services and eliminate waste.
11. Don’t cut corners.
Saving a few dollars by purchasing cheap equipment and materials or relying on less expensive vendors can backfire. One slight misstep can erase years of hard work. Instead, invest in quality equipment, training, and employees.
12. Keep your business strong — even in a downturn.
What goes up must come down. And the same is true for the economy. Being prepared is your best defense against losses. Here are some great tips for how to plan ahead and grow your business during an economic downturn.
13. Be sure to get the right insurance.
Turbulent times demand extra care. And business insurance is one of the best ways to financially protect your growing venture. Business insurance doesn’t just protect you; it can also help reassure clients that if anything goes wrong, your insurance policy could potentially help cover their losses.
Get Insured in Under 10 Minutes
Get an affordable and customized policy in just minutes. So you can get back to what matters: Your business.
Here at Simply Business, we’re an online insurance platform specializing in helping contractors and handymen like you find affordable insurance coverage — all in just minutes. So whether you need general liability, tools & equipment, or workers’ comp insurance, let us help. Use our free quote comparison tool to get policy options from the nation’s top insurers.
Got questions? We can help there, too. Our licensed insurance pros can get you the answers you’re looking for and get you covered — often on the same call. You can reach them at 844-654-7272, Monday-Friday, 9 a.m.-6 p.m. (ET).
More Tips to Help You Build a Stronger Business
Looking for more ways to grow your business and boost your income? The Simply Business Resource Center is packed with practical guides and tools to help you market, protect, and turbocharge your small business.
Here are three resources we recommend: