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A Sample Handyman Business Plan Template

Are you about starting a handyman business? If YES, here is a complete sample handyman business plan template & feasibility study you can use for FREE.

Okay, so we have considered all the requirements for starting a handyman business. We also took it further by analyzing and drafting a sample handyman service marketing plan template backed up by actionable guerrilla marketing ideas for handyman businesses. So let’s proceed to the business planning section.

What is a Handyman Business?

A handyman business is one that provides a wide range of services needed for the maintenance of buildings and properties. The services provided by a handyman include plumbing, electrical works, carpentry, painting, heating and cooling services and other building and property maintenance and repair works.

The handyman business is becoming more popular in recent times and this is because of the fact that people are becoming creative with ways of making money and developing new business ideas so as to be able to make a living. The creation of this business has also been as a result of people losing their jobs and the increasing number of people who want to set up their own businesses.

This business has also been made popular because people are becoming busier by the day with work and their family and they have no time to do the odd-jobs which that needs to be done in their homes and on their property. They therefore need help to get these little jobs done.

A handyman business is one that can be set up by almost anyone. It is not only men that can be found in this industry, there are also a lot of women that are involved in the business and they are doing very well. Whether you are well versed in facility/ property management or you have no such experience, it is a business that can be conveniently done.

What Does It Take to Start a Handyman Business Successfully?

To set up your handyman business, you need to be familiar with different kinds of trades as this is an important factor that can enable you to get jobs. To succeed in the business, you should try as much as possible not to reject jobs from clients as some jobs might be seen as too small for you to accept. Doing the small jobs is what often opens the way for you as a handyman with your clients. When they have bigger jobs, they will remember you and call you to handle their bigger projects for them.

If you are just starting out in the business, you can start by handling simple and basic jobs and from there you can grow the business as you go on. This is because while some handymen businesses just have the technical know how to fix simple and basic jobs, a handyman business can be grown to the extent that it will be able to deal with more complex jobs. This is a factor that can enable your business to grow and expand as the client can trust you to handle just about any job in their homes and on their properties.

A Sample Handyman Business Plan Template

  • Industry Overview

The handyman industry is one that was affected adversely by the fall of the housing market. This resulted to a low demand for the services in this industry. When the demand for minor household repairs and maintenance rose, the revenue decline was moderated. The industry has now benefited from the acceleration house market and the increase in household income.

This industry provides general maintenance and repair services to residential and commercial customers, including plumbing and electrical repairs, appliance installation and repair, painting and carpentry.

The industry grew as a result of the shift in focus from do-it-yourself (DIY) to do-it-for-me (DIFM) as the eighties drew to a close. This was because time became more precious for the coming generation than money. By the mid-nineties handyman businesses began to appear all over the place to cater to people who did not have time to spare to fix little problems in their homes.

In 2003, the handyman industry was one of the fastest growing ones in the United States and the industry keeps expanding further. This sector is a resource for the growing number of aging homeowners and is also a source of business opportunity for entrepreneurs.

The Handyman services industry will continue to grow in the five years to 2019 due to the support it will get from the accelerating house market. Housing prices are also on the rise and the increase in the existing home sales will help to drive the demand for remodeling projects and repair works in homes and on properties. The sector employs about 9,180 people and the annual growth rate in the industry between 2009 -2014 is 3.5% and the revenue from the industry is $1 billion.

There is a growing need for home repair work and improvement that is reliable because of the emergence of vacation homes, second homes, commercial properties and rental units. Also the increase in the number of older people who wish to keep on living in their homes is a factor for the growth in the industry and younger families with children of school-age who chooses to renovate and remodel their homes, instead of moving out to look for new homes in the real estate market with its high price.

Statistics has it that the Handyman Services industry in the United States of America, is worth $1bn, with an estimated growth rate of 3.5 percent. There are about 882 registered and licensed handyman services businesses in the United States and they are responsible for employing about 9,180 people. It is important to state that there is no company with a dominant market share.

The Handyman services industry will keep on thriving in the coming decade especially if an entrepreneur in this line of business is committed to providing reliable and quality work for customers in the home repair and property services they render. The market is highly unsaturated and there is room for growth as the industry is expanding and maturing. The good news for would be entrepreneurs in this line of business is that there is an estimate of continued annual growth for the handyman industry for as high as 20 percent.

Over and above, the handyman services industry is very open to any aspiring entrepreneur who has acquired the required trainings, skills and perhaps professional certifications to start his or her own business and of course make good money from the industry.

Handyman Business Plan – Executive Summary

Next Door Neighborhood® Handyman Services is a licensed and standard handyman services company. We have been able to secure a standard and well – positioned office facility in a central business district in Inglewood Los Angeles – California. We are a handyman services company that is set to compete in the highly competitive handyman services industry not only in Los Angeles – California, but also throughout the United States market.

Next Door Neighborhood® Handyman Services will provide general maintenance and repair services to residential and commercial customers, including plumbing and electrical repairs, appliance installation and repair, painting and carpentry services et al. Our business goal is to become one of the leading handyman service companies in the United States and we will make sure that we do all we can to compete favorably with leaders in the industry.

Our workers will be selected from a pool of certified and highly experienced technicians and tradesmen with different trade skills as it relates to our service offerings in and around Los Angeles – California and also from any part of the United States of America as the business grows.

We will make sure that we take all the members of our workforce through the required trainings that will position them to meet the expectation of the company and to compete with leading handymen service providers and installation, maintenance and repair companies in the United States and throughout the globe.

At Next Door Neighborhood® Handyman Services, our client’s best interest will always come first, and everything we do will be guided by our values and professional ethics. We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for all our partners, employees and for our clients.

Next Door Neighborhood® Handyman Services is founded by Drake Morrison a graduated from Illinois Institute of Technology (B.Tech.) and his friend and business partner for many years Fred Sugarland (B.Sc. Business Management). They have a combine experience that can help them build Next Door Neighborhood® Handyman Services to favorably compete with other leading handyman business and installation, maintenance and repair businesses in the United States of America.

  • Our Product and Services

Next Door Neighborhood® Handyman Services is established with the aim of maximizing profits in the handyman services cum installation, maintenance and repair services industry. We want to compete favorably with the leading handyman service companies and installation, maintenance and repair companies in the United States which is why we have but in place a competent quality assurance team that will ensure that every repairs, installations and services carried out or related services rendered meet and even surpass our customers’ expectations.

We will work hard to ensure that Next Door Neighborhood® Handyman Services is not just accepted in Los Angeles – California but also in other cities in the United States of America. Our service offerings are listed below;

  • Plumbing repair
  • Drywall installation and repair
  • Electrical installations
  • Carpentry services
  • Appliance installation and repair (TV wall mount installation)
  • Flooring installation and repair
  • Roofing repairs
  • Gutter cleaning
  • Kitchen makeover
  • Bathroom remodel and Shower remodel
  • Attic insulation
  • Deck repair
  • Door installations
  • Fence repairs
  • Interior and exterior painting services
  • Yard and power tool repair and maintenance
  • Building and gardening service
  • Other related installation, maintenance and repair services

Our Vision Statement

Our vision is to establish a standard and all – round handyman services company whose services and brand will not only be accepted in Los Angeles – California but also in other cities in the United States of America.

  • Our Mission Statement

Our mission is to provide professional installation, maintenance and repair services and other related services that will assist businesses, individuals, households and non-profit organizations in ensuring that their facility and equipment in good shape. We want to build a handyman service company that can favorably compete with other leading brands in the handyman services cum installation, maintenance and repair services industry.

  • Our Business Structure

Next Door Neighborhood® Handyman Services is a business that intends to start small in Los Angeles – California, but hopes to grow big in order to compete favorably with leading handyman business and installation, maintenance and repair companies in the industry both in the United States and on a global stage.

We are aware of the importance of building a solid business structure that can support the picture of the kind of world class business we want to own. This is why we are committed to only hire the best hands within our area of operations.

At Next Door Neighborhood® Handyman Services we will ensure that we hire people that are qualified, hardworking, creative, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders (the owners, workforce, and customers).

As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of five years or more as agreed by the board of trustees of the company. In view of the above, we have decided to hire qualified and competent hands to occupy the following positions;

  • Chief Executive Officer
  • Head, Technical Services
  • Human Resources and Admin Manager
  • Sales and Marketing Executive
  • Accountant
  • Handymen (With Various Trade Skills as it relates to our Business)
  • Client Service Executive

Roles and Responsibilities

Chief Executive Officer – CEO:

  • Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
  • Responsible for providing direction for the business
  • Creating, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
  • Responsible for signing checks and documents on behalf of the company
  • Evaluates the success of the organization

Head, Technical Services:

  • Serve as project manager of the organization; works directly with employees
  • Develops strategic plan by studying technological and financial opportunities; presenting assumptions; recommending objectives.
  • Accomplishes subsidiary objectives by establishing plans, budgets, and results measurements; allocating resources; reviewing progress; making mid-course corrections.
  • Coordinates efforts by establishing procurement, production, marketing, field, and technical services policies and practices; coordinating actions with corporate staff.
  • Builds company image by collaborating with customers, government, community organizations, and employees; enforcing ethical business practices.
  • Maintains quality service by establishing and enforcing organization standards.
  • Maintains professional and technical knowledge by attending educational workshops; reviewing professional publications; establishing personal networks; benchmarking state-of-the-art practices; participating in professional societies.
  • Make certain that the technical department perform efficiently, coordinate employee efforts, and facilitate communications between management and handymen
  • Ensures that the organization work in line with international best practices.

Human Resources and Admin Manager

  • Responsible for overseeing the smooth running of HR and administrative tasks for the organization
  • Defines job positions for recruitment and managing interviewing process
  • Carries out staff induction for new team members
  • Responsible for training, evaluation and assessment of employees
  • Responsible for arranging travel, meetings and appointments
  • Oversees the smooth running of the daily office and factory activities.

Sales and Marketing Manager

  • Manages external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
  • Models demographic information and analyze the volumes of transactional data generated by customer
  • Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
  • Writing winning proposal documents, negotiate fees and rates in line with organizations’ policy
  • Responsible for handling business research, market surveys and feasibility studies for clients
  • Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
  • Develop, execute and evaluate new plans for expanding increase sales
  • Create new markets cum businesses for the organization
  • Empower and motivates the sales team to meet and surpass agreed targets

Accountant / Cashier:

  • Responsible for preparing financial reports, budgets, and financial statements for the organization
  • Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
  • Responsible for financial forecasting and risks analysis.
  • Performs cash management, general ledger accounting, and financial reporting for one or more properties.
  • Responsible for developing and managing financial systems and policies
  • Responsible for administering payrolls
  • Ensures compliance with taxation legislation
  • Handles all financial transactions for Next Door Neighborhood® Handyman Services
  • Serves as internal auditor for Next Door Neighborhood® Handyman Services

Handymen (With Various Trade Skills)

  • Provides general maintenance and repair services to residential and commercial customers, including plumbing and electrical repairs, appliance installation and repair, painting and carpentry services et al.
  • Handles Carpentry services, Appliance installation and repair (TV wall mount installation), Flooring installation and repair, Roofing repairs, Gutter cleaning, Kitchen makeover, Bathroom remodel and Shower remodel, Attic insulation, Deck repair, Door installations, Fence repairs, Interior and exterior painting services, Yard and power tool repair and maintenance

Client Service Executive

  • Welcomes clients and potential clients by greeting them in person or on the telephone; answering or directing inquiries.
  • Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
  • Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
  • Manages administrative duties assigned by the creative director in an effective and timely manner
  • Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make enquiries

Handyman Business Plan – SWOT Analysis

Next Door Neighborhood® Handyman Services engaged the services of a core professional in the area of business consulting and structuring to assist our organization in building a well – structured handyman business that can favorably compete in the highly competitive handyman services cum installation, maintenance and repair service industry in the United States and the world at large.

Part of what the team of business consultant did was to work with the management of our organization in conducting a comprehensive SWOT analysis for Next Door Neighborhood® Handyman Services. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Next Door Neighborhood® Handyman Services;

  • Strength:

Our core strength lies in the power of our team; our workforce. We have a team of certified and highly trained and experience technicians, plumbers, and carpenters et al, a team with excellent qualifications and experience in various niche areas in the handyman services cum installation, maintenance and repair service industry. Aside from the synergy that exists in our carefully selected workforce, our services will be guided by best practices in the industry.

  • Weakness:

As a new handyman services company in Los Angeles – California, it might take some time for our organization to break into the market and gain acceptance especially from top profile clients in the already saturated and highly competitive handyman services and installation, maintenance and repair services industry; that is perhaps our major weakness. Another weakness is that we may not have the required cash to pump into promoting our business the way we would want to.

  • Opportunities:

No doubt, the opportunities in the handyman services and installation, maintenance and repair services industry is massive considering the number of households and corporate organizations that are would always need one or more things to fix in their facilities. As a solar panel installation, maintenance and repair company, we are ready to take advantage of any opportunity that is available in the industry.

  • Threat:

Just like any other business, one of the major threats that we are likely going to face is economic downturn. It is a fact that economic downturn affects purchasing / spending power. Another threat that may likely confront us is the arrival of a new handyman business or even installation, maintenance and repair company in same location where our target market exist and who may want to adopt same business model like us.

Handyman Business Plan – MARKET ANALYSIS

  • Market Trends

To start a handyman business, there is need to carry out a critical economic analysis to ensure that the risks and threats that are associated with starting a business or investing in a business idea are reduced.

Starting the business is not just about getting a fancy office space and equipping the place. You should also be concerned with how to get customers for the business and how to keep existing customers coming back to use the services of your company.

On the average, starting and running a handyman business can be cost effective. This is especially so when you have highly trained, well qualified and experienced staff as members of your team. With the quality of work carried out by them for your customers, you will be able to retain your customers and the good work your company does will be well spread by word of mouth as customers will tend to recommend your services to their families and friends once you are able to do a good job in their homes and on their properties.

A company’s ability in providing its customers with quality service at affordable prices will also be a factor that will count in the industry. This way the company will be able to retain existing clients and get more business from new customers. The competition in the handyman industry shows that there is a viable market for the services of handymen.

As long as you are prepared to run a high quality business, you will have your own share of the market as some handyman business that exist take their customers for granted and offer them mediocre services. This gives you room as a new entrant into the business to come in and dominate if you are prepared to give quality service to your client.

  • Our Target Market

Before starting our handyman business in Los Angeles – California, we conducted a market survey and feasibility studies and we are certain that there is a wide range of both corporate and individual clients who would need the services of handymen on a regular basis.

In view of that, we have created strategies that will enable us reach out to various corporate organizations and households who we know can’t afford to do without our services. Below is a list of the people and organizations that we have specifically market our services to;

  • Banks, Insurance Companies and other related Financial Institutions
  • Blue Chips Companies
  • Corporate Organizations
  • Real Estate Owners, Developers, and Contractors
  • The Government (Public works department)
  • Schools (High Schools, Colleges and Universities)
  • Hotels
  • Sport Facilities
  • Religious Organizations
  • Individuals and households

Our Competitive Advantage

Surviving in the business world as a handyman business or installation, maintenance and repair company requires more than, your expertise, knowing how to deliver standard repairs and maintenance jobs but also how to network with key people that matters; decision makers that can decide who will get an installation, repair and maintenance contract.

There are favorable conditions for growth in the handyman services industry and as a result of this, survival in the industry will require that you build on existing knowledge of the services you offer to your customers and broaden your skill base in order to be able to compete favorably. More handymen companies are coming up and they are using the services of existing franchise in the business to boost their competitive edge and exposure in the industry.

We are quite aware that to be highly competitive in the handyman services industry means that you are not only expected to be able to deliver consistent and highly reliable installation, repair and maintenance jobs, but you must be able to meet set targets. No one would want to continue to hire your services if don’t always meet up with the target date of completion of projects.

Our competitive advantage lies in the power of our team; our workforce. We have a team of certified and highly trained and experience technicians, plumbers, and carpenters et al, a team with excellent qualifications and experience in various niche areas in the handyman services cum installation, maintenance and repair service industry. Aside from the synergy that exists in our carefully selected workforce, our services will be guided by best practices in the industry.

Lastly, all our employees will be well taken care of, and their welfare package will be among the best within our category (startups handyman services cum installation, maintenance and repair businesses in the United States) in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.

Handyman Business Plan – SALES AND MARKETING STRATEGY

We are mindful of the fact that there is stiffer competition in the handyman services industry; hence we have been able to hire some of the best marketing experts to handle our sales and marketing.

Our sales and marketing team will be recruited based on their vast experience in the handyman services cum installation, maintenance and repair services industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall business goal of Next Door Neighborhood® Handyman Services

Our corporate goal is to grow Next Door Neighborhood® Handyman Services to become one of the top 10 handyman services brands in the United States of America which is why we have mapped out strategy that will help us take advantage of the available market and grow to become a major force to reckon with not only in Los Angeles – California but also in other cities in the United States of America.

Next Door Neighborhood® Handyman Services is set to make use of the following marketing and sales strategies to attract clients;

  • Introduce our business by sending introductory letters alongside our brochure to individuals, households, corporate organizations, religious organizations and key stake holders.
  • Promptness in bidding for installation, repair, and maintenance contract from the government and other cooperate organizations
  • Advertise our business in relevant business magazines, newspapers, TV stations, and radio station.
  • List our business on yellow pages ads (local directories)
  • Attend relevant international and local expos, seminars, and business fairs et al
  • Create different packages for different category of clients in order to work with their budgets and still deliver excellent services
  • Leverage on the internet to promote our business
  • Engage direct marketing approach
  • Encourage word of mouth marketing from loyal and satisfied clients

Sources of Income

Next Door Neighborhood® Handyman Services is established with the aim of maximizing profits in the handyman (repair) services industry and we are going to go all the way to ensure that we do all it takes to meet and surpass the expectations of all our clients.

Next Door Neighborhood® Handyman Services will generate income by offering the following services;

  • Plumbing repair
  • Drywall installation and repair
  • Electrical installations
  • Carpentry services
  • Appliance installation and repair (TV wall mount installation)
  • Flooring installation and repair
  • Roofing repairs
  • Gutter cleaning
  • Kitchen makeover
  • Bathroom remodel and Shower remodel
  • Attic insulation
  • Deck repair
  • Door installations
  • Fence repairs
  • Interior and exterior painting services
  • Yard and power tool repair and maintenance
  • Building and gardening service
  • Other related installation, maintenance and repair services

Sales Forecast

One thing is certain, there would always be corporate organization, government agencies, households and individual who would need the services of handymen cum installations, maintenance and repair companies.

We are well positioned to take on the available market in the handyman services industry and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow our company to enviable heights.

We have been able to critically examine the handyman services cum installation, maintenance and repair market and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projection is based on information gathered on the field and some assumptions that are peculiar to similar startups in Los Angeles – California.

Below is the sales projection for Clean Energy Technologies®, LLC, it is based on the location of our business and of course the wide range of our services and target market;

  • First Year-: $100,000
  • Second Year-: $250,000
  • Third Year-: $500,000

N.B: This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor offering same installation, maintenance and repair services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

  • Our Pricing Strategy

At Next Door Neighborhood® Handyman Services we will keep the prices of our services below the average market rate for all of our customers by keeping our overhead low and by collecting payment in advance from corporate organizations who would hire our services. In addition, we will also offer special discounted rates to all our customers at regular intervals.

We are aware that there are some one – off jobs or government contracts which are always lucrative, we will ensure that we abide by the pricing model that is expected from contractors or organizations that bid for such contracts.

  • Payment Options

At Next Door Neighborhood® Handyman Services our payment policy will be all inclusive because we are quite aware that different people prefer different payment options as it suits them. Here are the payment options that we will make available to our clients;

  • Payment by via bank transfer
  • Payment via online bank transfer
  • Payment via check
  • Payment via bank draft
  • Payment via mobile money
  • Payment with cash

In view of the above, we have chosen banking platforms that will help us achieve our plans with little or no itches.

Handyman Business Plan – Publicity and Advertising Strategy

We have been able to work with our brand and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market. We are set to become the number one choice for both corporate clients and households in the whole of Inglewood – Los Angeles and beyond which is why we have made provisions for effective publicity and advertisement of our handyman services company.

Below are the platforms we intend to leverage on to promote and advertise Next Door Neighborhood® Handyman Services;

  • Place adverts on both print (newspapers and magazines) and electronic media platforms
  • Sponsor relevant community based events / programs
  • Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, YouTube, Google + et al to promote our services
  • Install our Bill Boards on strategic locations all around Los Angeles – California
  • Engage in road show from time to time in targeted neighborhoods
  • Distribute our fliers and handbills in target areas
  • Contact corporate organizations and households by calling them up and informing them of Next Door Neighborhood® Handyman Services and the services we offer
  • List our company in local directories / yellow pages
  • Advertise our company in our official website and employ strategies that will help us pull traffic to the site.
  • Ensure that all our staff members wear our branded shirts and all our vehicles are well branded with our company logo et al.

Handyman Business Plan – Financial Projections and Costing

In setting up any business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting a place, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.

This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business. The tools and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked.

As for the detailed cost analysis for starting a standard handyman company; it might differ in other countries due to the value of their money. However, this is what it would cost us to set Next Door Neighborhood® Handyman Services in the United of America;

  • Business incorporating fees in the United States of America will cost – $750.
  • The budget for Liability insurance, permits and license will cost – $3,500
  • Acquiring an office space that will accommodate the number of employees for at least 6 months (Re – Construction of the facility inclusive) will cost – $100,000.
  • The amount required to purchase the needed tool box and repair equipment – $10,000
  • Equipping the office (computers, printers, projectors, markers, servers / internet facility, furniture, telephones, filing cabinets, and electronics) will cost – $10,000
  • Amount required to purchase the needed software applications to run our business – $ 3,500
  • Launching an official Website will cost – $500
  • Amount need to pay bills and staff members for at least 2 to 3 months – $70,000
  • Additional Expenditure such as Business cards, Signage, Adverts and Promotions will cost – $1,000

Going by the report from the market research and feasibility studies conducted, we will need about two hundred thousand (200,000) U.S. dollars to successfully set – up a standard handyman company in the United States of America.

Generating Funding / Startup Capital for Next Door Neighborhood® Handyman Services

Next Door Neighborhood® Handyman Services is a business that will be owned and managed by Drake Morrison and his friend and business partner for many years Fred Sugarland. They are the sole financial of the business which is why they decided to restrict the sourcing of the start – up capital for the business to just three major sources.

These are the areas we intend generating our start – up capital;

  • Generate part of the start – up capital from personal savings and sale of his stocks
  • Generate part of the start – up capital from friends and other extended family members
  • Generate a larger chunk of the startup capital from the bank (loan facility).

N.B: We have been able to generate about $100,000 (Personal savings $70,000 and soft loan from family members $30,000) and we are at the final stages of obtaining a loan facility of $100,000 from our bank. All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.

HANDYMAN BUSINESS GROWTH: Sustainability and Expansion Strategy

The future of a business lies in the numbers of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.

One of our major goals of starting Next Door Neighborhood® Handyman Services is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running. We know that one of the ways of gaining approval and winning customers over is to offer our installation, maintenance and repair services a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.

Next Door Neighborhood® Handyman Services will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List / Milestone

  • Business Name Availability Check: Completed
  • Business Incorporation: Completed
  • Opening of Corporate Bank Accounts various banks in the United States: Completed
  • Opening Online Payment Platforms: Completed
  • Application and Obtaining Tax Payer’s ID: In Progress
  • Securing a standard office facility: Completed
  • Application for business license and permit: Completed
  • Purchase of All form of Insurance for the Business: Completed
  • Conducting Feasibility Studies: Completed
  • Generating part of the start – up capital from the founders: Completed
  • Writing of Business Plan: Completed
  • Drafting of Employee’s Handbook: Completed
  • Drafting of Contract Documents: In Progress
  • Design of Logo for the business: Completed
  • Purchase of repair and installation tools and equipment: Completed
  • Graphic Designs and Printing of Packaging Marketing / Promotional Materials: Completed
  • Recruitment of employees: In Progress
  • Purchase of the Needed furniture, office equipment, software applications, electronic appliances and facility facelift: In Progress
  • Creating Official Website for the business: In Progress
  • Creating Awareness for the business: In Progress
  • Health and Safety and Fire Safety Arrangement: In Progress
  • Establishing business relationship with vendors and key players in various industries: In Progress
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