If you are good with a hammer and already provide some handyman services to customers, you may be wondering if you should simply enjoy what you have built or if you should move on to the next stage of business. Becoming a licensed contractor can be that next stage, and it could result in more stability and a better business.
Why might licensure be right for you? Here are 5 reasons for any entrepreneur.
Why might licensure be right for you? Here are 5 reasons for any entrepreneur.
Take on Larger Jobs
In the state of California, handyman services are limited to $500. This limitation is designed to help ensure that experienced and regulated contractors perform large-scale work. But if you only do handyman work, it is obvious that you will be limited in what you can earn.
A licensed contractor, on the other hand, can bid on much larger and more complex jobs that bring in better earnings. They can oversee other contractors and thereby increase earnings as well. And those bigger jobs often lead to more work at the same level as you complete successful work for home builders and other contractors.
A licensed contractor, on the other hand, can bid on much larger and more complex jobs that bring in better earnings. They can oversee other contractors and thereby increase earnings as well. And those bigger jobs often lead to more work at the same level as you complete successful work for home builders and other contractors.
Hire Help
A handyman business is often run as a one-person operation. This keeps you on your toes, but the smaller budget of jobs generally prevents you from being able to hire much help. Becoming a contractor will make it much more likely that you can earn enough to hire assistance in the form of employees or subcontractors.
Hiring additional workers can be key to growing your business into something less taxing. So, if you ever want to be able to sit back and relax a little more, training some help now may be the best way to do it.
Hiring additional workers can be key to growing your business into something less taxing. So, if you ever want to be able to sit back and relax a little more, training some help now may be the best way to do it.
Get Focused
A handyman is often called on to be a jack-of-all-trades. And because he or she generally only do limited size jobs, it may mean that you do a wide variety of services.
For some people, this keeps things interesting. However, it can be tiring and prevent you from becoming a master of any particular subject. If you're more interested in a single field--such as electrical, flooring, or HVAC--it may make you happier to be able to focus your time on that skill. You will become better at it and also likely able to earn more for doing it.
Focusing on a specific field can also allow you to complete work more quickly, offer more specialized products or services, and avoid the types of jobs you find unappealing.
For some people, this keeps things interesting. However, it can be tiring and prevent you from becoming a master of any particular subject. If you're more interested in a single field--such as electrical, flooring, or HVAC--it may make you happier to be able to focus your time on that skill. You will become better at it and also likely able to earn more for doing it.
Focusing on a specific field can also allow you to complete work more quickly, offer more specialized products or services, and avoid the types of jobs you find unappealing.
Get In on the Boom
Construction in California and other states is seeing fantastic growth and opportunity.
But you can't participate in the building extravaganza if you do not get in the game. With a labor shortage in the industry, builders now more than ever are looking for quality, licensed contractors to complete jobs quickly and may be willing to pay more to get that.
But you can't participate in the building extravaganza if you do not get in the game. With a labor shortage in the industry, builders now more than ever are looking for quality, licensed contractors to complete jobs quickly and may be willing to pay more to get that.
You May Be Halfway There
As a handyman, you likely have a lot of experience that will help you pass the contractors’ license exam quickly and with less stress. Have you bid jobs and written contracts? Do you have insurance? Have you managed income taxes for a business? Have you dealt with state and local legal requirements?
If the answer to any of these questions is "yes", you may only need to fill in the blanks to complete your education before taking the exam.
It is clear that taking the time to invest in the future of your small business can have advantages both now and in the years to come. So, why not see what you need to get started on your contractor license today?
If the answer to any of these questions is "yes", you may only need to fill in the blanks to complete your education before taking the exam.
It is clear that taking the time to invest in the future of your small business can have advantages both now and in the years to come. So, why not see what you need to get started on your contractor license today?
