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Tools for a Handyman Business

It is easy to overspend on tools when you are starting a handyman business. For the first few jobs it is hard to tell whether you should rent equipment or buy it, and it is very easy to blow every dollar you have made in the last week buying the new, say, rotary saw you feel you have to have. That's okay, if you have the money, but if you need to be living on the money you earn from the start, there is going to have to be some very careful consideration made for every tool you buy, rent, borrow or make-do without for the first few months.

It does not take a lot of money to start a handyman business. You biggest business launch expense will probably be insurance, followed by the fees for a business license (which can range from $30 to $50) or business cards ($40 or less). So on that side of things, you can definitely be frugal. But with tools and supplies, there are some things you just have to have, and even a pared down list of those items may end up costing more than the total of everything you spent getting your business set up.

There are ways around this. For starters, doing a few handyman jobs on the side before you officially go into business will give you the experience you need to know which purchases have to happen now, and which can be postponed. It will also give you some extra cash so you can go out and buy whatever equipment you know you are going to need. For example, if you get a job putting up a fence, you'll rent that post hole digger the first time out. If you do a good job, and you like building fences, then get approached to do another fence, it sure looks like buying a post hole digger would be a prudent purchase. If you are have good experience painting houses, after a few jobs you may want to splurge on that nifty painting machine that you have wanted for the last two years.

Its also important to know that the tools you buy are tax-deductible. So keep your receipts and be ready to proof your purchases. Check with accountant about exactly what can be deducted, and how he or she wants you to track the purchases. Good record-keeping may save you a day's worth of tax preparation time.

Friends and even other handyman can be a real life-saver when you are starting out. If money is tight and you are not best-buddies with the guy who has, say, a concrete mixer you must have to do a job, offer to work a few hours for him in exchange for using the mixer for a few days. While other handymen are "the competition", having a good open relationship with them can really pay off. Handymen - the good ones - frequently have more work than they can do, so you might get a few job referrals in addition to getting the mixer for a few days, just by showing up and making yourself useful.

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More articles about starting a handyman business:

How to Start a Handyman Business

Are You Cut Out to Be a Handyman?

Tools for a Handyman Business

Payment Options for Handymen

How To Advertise a Handyman Business

Customer Service Tips for Handymen

Choosing a Name for a Handyman Business

Record Keeping Basics for Handymen

Being a Handyman Versus Having a Handyman Business or a Franchise

Getting a Website for Your Handyman Business

Getting Paid Upfront: Deposit Policies for Handymen

How Much To Charge Per Hour

Should You Charge by the Hour, or by the Job?

Insurance for Handymen

The Handyman Guide: How to Fix and Build 1000s of Things Around the House