Your Business Is Going To Fail | Here's Why | THE HANDYMAN BUSINESS
HTML-код
- Опубликовано: 31 май 2019
- Some one asked about these tools on instagram today. Do you have a set? How do you like them? amzn.to/2W4DjeZ Follow me on instagram / the_hand_e_man
No truer words have been said. I have been in the remodeling business for 30+ years and got to the point I had about 25 employees and thought that I was living big but, I hated it. I had gotten away from what I loved to do and became a babysitter. So when the bottom fell out I saw and opportunity to down size. I had a meeting told everyone after the last of the jobs were done I was closing the doors. That gave everybody 9 months to find another job. Now I have one guy that works with me when I need help and I am much happier these days. The most important thing to do is plan for your future.
Your lucky to find 25 guys. these days its hard to find even one person who is willing ot both show up and work on a daily basis
I had a gardening route for a few years, sold it in June of this year, mainly sold the clients which where all month to month, to a new Gardener who wanted to expand his client base, it was basically a $5k/ mo. income and I sold it for $10k. It was originally $6k/mo. Income but the two guys I had it running for me while I was seeking other ventures (for my transition) were a disaster LOL they lost me $1k/mo. of business and not to mention my decent reputation. Anyway, glad I sold it, it was fun while it lasted, but my problem was ambition, I couldn't enjoy the work because I was always pushing myself to do the Max amount of houses and little extras that come with it, planting, sprinkler repairs, tree trimming etc. I built it from nothing too, you really get to meet some successful people and you can learn from them, so I definitely would say it has its perks. In LA a Gardener is pretty much the lowest life form, at least that's how people see you lol. But gardeners out here are very valuable, wether people want to admit it or not, because we do the work the other tradesmen won't do even if it had nothing to do with gardening.
Getting serious about getting out of the rat race and doing my own thing. Tired of donating my time to make somebody else rich. I plan on doing handyman work for 2-3 years, buying rental or flipping properties for 10-15 years while taking jobs for my best clients, and retiring on rental income. Looking forward to not having a boss to answer to, and making as much money as I choose to make. Love the content, and I always clean out my sprayer when the job is over. Much easier than after it dries.
It’s been 2 years, hope it’s going well. Would you recommend other’s do the same today?
@@caffy65432 It's had its ups and downs, but I wouldn't trade it for a corporate job. I still love what I do, and continue to learn better ways of being profitable. The local property values have priced me out of acquiring anything in my area, but all that's done to the plan is change the timetable slightly. The values will come back down as material costs lower, and new builds resume. If you have the skills, discipline, tools, and capital to survive, there are few better feelings than working for yourself.
I am reminded of someone I know who was a professional chef. What drove him from the business was the fact that he wasn't cooking any more; he was managing people who cooked.
One of your best. Thanks for the encouragement. 10 years a landlord but only 11 months working for the public. Its coming along.
i'll be content staying self-employed, even though my boss would be an asshole
One of the most challenging parts of my new Handyman business is the amount of time it takes to learn how to do so many very different projects. Obviously it is normal for projects to take longer the first time we do them. It makes me want to specialize, but there isn’t enough work around to specialize.
You're on the steeper part if the learning curve, keep at it, it will get easier as more common repairs begin to be second nature. Every once in a while a difficult challenge will come up. The next time that happens you'll have it covered. You never stop learning new things, however small. Good luck!
Great video. Someone finally says the truth on utube. I am retired and do handyman work. I have the ability to turn down work i don't want to do or won't make much money on. I live in a rural town of 900 people and i still have plenty of work. I have some things going for me others don't. I am over 50, i speak english, i don't have tattoos and i do excellent work. Treat customers right and do good work and they will pay well and tell others about you. Sometimes it is better to turn down work or a customer. You just have to know which ones. Beware of the low budget house flippers.
I have a day job doing data analysis. Working with my hands keeps me sane.
I did marketing for a year. The culture drove me crazy. Glad I left.
My employer had a desk job for YEARS before it drove him insane. He wanted a business he could run himself. So he took House Doctors on. Only thing is he has NO experience. Neither does the CSR, aka phone answerer. So we get stuck with A LOT of bs. And we can see the business heading downhill. Fast. Problem is, the owner doesn't like giving anyone bad news, or dealing with problems. So. Yeah. And I have a car payment to make for at least 6 months (yeah, it pays that good).
When i started 5 years ago as a handyman buisness a wanted to hire hire hire .... then after 2 years sat down, did the numbers and was not impressed. I make as mutch now as when i had 3 employees working for me.
And you are right, don't forget to invest !! I buy a property every 2 years approx. And all the work you do yourself. Win win IMO .
Great vids,
Matt
Yeah I know all that. I'd be happy to have steady work mostly yr round. And make upward's of a $1,000 bucks a wk. I'd be happy with that. An I know I'm not as good as some. But I'm atleast as good or better than alot the guys I come across or some of the work that I see. I've done framing, roofing, tile, drywall, painting, remodeling.
An I've got no insurance, a torn rotator cuff, a hernia, a constant head ache. And I just wanna work for Shaun by Shaun. Goto work when Shaun wants. Come home when shaun wants. An give my customers a product they like and I'm proud of.
Hey there Handyman....like these life lessons, nuggets of knowledge, from you & the ppl who comment. Thought I’d share little story myself (sorry if not short enough☺️).
When I was young, right out of college... I was fortunate enough to go into business with 2 other ppl(3 partners total). The biz was worth (not counting the building, land, equipment etc....that we owned as well) around 1.5M & had offers from other companies wanting to buy the biz, brand, land, etc....for around 7M. At the board meetings, we voted no, over & over (kinda wish we sold it....continue reading to find out why😉).
I learned a very important, hard lesson, a few years later.
The Enbridge oil pipeline break in MI in July 2010 (if curious, just google Enbridge Kalamazoo River in MI, oil pipeline break 2010 or something similar) happened really close to our front door.... Was absolutely a horrible mess, & for the surrounding homes, businesses, etc...it pretty much ruined them. Our business sat roughly 200-300ft from Kalamazoo River, & when that pipeline burst open spilling out all that oil; well, let’s just say, trying to run a biz while breathing, working, etc....isn’t fun (it’s almost impossible)! Customers/clients, staff, etc....started getting sick from the smell. The air quality was being monitored by the “Alphabet Soup” of Gov’t Agencies that were involved with protecting us, evacuation, cleanup, etc... Monitoring towers, air quality testing monitors, & other devices were set up in the biz, on the biz, & the surrounding homes/businesses. Trying to keep the doors open & lights on was becoming harder & harder. Ended up having to close up shop (shut the front doors, turn off them there lights......you all know the puns 🤣) & sell everything off & leave that biz behind. Took a big hit from [it] (the once 7M biz was now worth almost nothing); but also gained valuable life lessons. In the end, we did fail. Was it “our” fault, NO, but the biz failed nonetheless.
What I took away from that experience; was that even though your successful (making it rain w/ money), things can change in an instant....that failing in a business, doesn’t necessarily mean that you, yourself, are a failure.....and that IT IS POSSIBLE TO RECOVER & BUILD your life back up! Investing & saving your money is very important as well, especially, if you don’t want to work hard till the day you die.
Cheers💪🏻
Hopefully ppl get the point of this comment. If not....sorry & I’m not trying to make anyone mad, as this is my experience & opinions.
What was the nature of the business?
Man I ill tell you ....your like my best friend and don't even know me.your channel has done more for me in an hour than everybody I've come in contact with in the last 10 years. Please keep making content .my wife and I both love your Chanel
WOW. Thanks. I'm glad they help you.
I’m just getting started with my own handyman business, worked and was a commercial framing and drywall foreman managing , projects, a budget, small and large crews, client relations etc. I did that as well as worked on the side as a handyman. I love the management aspect over the hands on, putting people in positions to succeed I feel is my talent. Looking to build slowly making sure I have all my ducks in a row and be in a position where I’m able cover the up front/long term costs taking on employees. Definitely looking to create my own empire! But it’s baby steps for now... Rome wasn’t built in a day!
I love your motivation. I hope it all works out for you
Do what you love, the money will follow. "Follow your heart - it somehow already knows what you want to become" - Steve Jobs
Good topic, I struggle with these questions in many ways. In both my full time job and my side business. My full time job pays a decent wage, I live comfortably and half my insurance is paid, so anything I am making on the side is all gravy for me. Because of my bosses age I get asked all the time by carpenters we work with why I don't buy him out. I really don't want the multiple hassles that would bring. Than I am not ready to take my side business full time for a couple of different reasons. So right now I not pushing to do either just yet, just taking care of my self and doing what I do.
I like being self employed having the freedoms every time I try to have somebody work with me or for me ends up biting me i* t** a** but I'm from Florida so it's a little different down here but I enjoy what I do I enjoy spending time with my kids in the freedom If I had our always stay a one man band may be a helper You know I worked for a construction company for 20 years before I realized I could do this on my own I'm glad I did
I'm a fireman and i do the handyman thing because of all the other things i have done in my life and on my days off it is the most rewarding, mind challenging thing i do. I was an insurance agent for 4 years ( ugh ) mowed grass, truck accessories. I've tried it all and to be honest the building trades class i took in HS back in 87-88 was the greatest class i ever took in school. I will always be a 1 or 2 man operation and thats how i want it. I really hope to show my kids a work ethic and how easy it is to make extra money if needed or a career.
Good stuff man. Paramedic here and am starting my own handyman gig. I work a 9 day rotation, so I have 5 days every week I can do this.
If you're interested in this subject, read "The E-Myth Revisited". Great book which goes into detail on what you need to do if you want to become a business owner instead of an employee in your company. If you don't want to do that though, Handyman is correct to point out there's nothing wrong with staying an employee! One is not objectively better than the other.
That's what I was thinking while watching this.
E-Myth book is perfect for this.
3:20 WTF? Did huffing acetone bring back memories of construction management college, Handyman? LOL That aside, thanks for being real with us, Handyman.
Haven't cleaned my painting Homeright Super for a while, either, but have still been using it from time to time. I think I use the same water based paint you have on the workbench you have. All I have to do is scrape away at the painting tip with a razor blade, and make sure to shake up the paint with the water in the reservoir or the tip will start dripping white water when I release the trigger.
Handyman, I want to thank you for all the videos you post on starting a business and sharing your insight. You've been my go-to guy here on youtube for a while now...pretty much since day I saw your vids. Anyhow, I do not want to run a huge company. I like working with my hands and building things that make people feel like they got something in life. People really like my work from what I can tell. Personally I just want to make enough money to feel like I got something in life as well. I don't want to struggle to pay bills with a 9 to 5, or a 1 to 1, or 2x4 lol. I just want to be comfortable and I have worked many different factory jobs that tore my body up, worked commercial roofing (loved it) but it didn't pay shit either. I started working on residential home improvements and like it more than anything before it but partly because my father tricked my at a very young age into thinking this shit is fun lol To me it is fun to do all residential stuff. Anyhow, I just recently got insured, after your advice on another vid, to do roofing, electrical, and plumbing so hopefully being out on my own starts to pay off soon. Im gonnna have to read the books you mentioned in your vids though. ANyhow, thx again for your content. I appreciate it.
Dude, you're an inspiration.
Thanks Handyman for your wise, pragmatic comments. I see too many young men and women who don’t realize how well one can provide for one’s family, while building up a sizeable retirement nest egg, by being self employed like you are. It takes discipline, patience, and realistic expectations, but learning a skill set that you can sell to others is very rewarding.
BTW, I encourage people to read The Millionaire Next Door to gain insight into how to build that nest egg.
Best wishes to you and your family for the Holiday Season.
The Millionaire Next Door is a life changing book! It opened my eyes
I know of 1 handyman franchise. “Mr Handyman” I dont know how many states they’re currently in, but there are 3 in Pittsburgh alone. I think if you have an extremely detailed business model you can franchise. I never see their vans on the road. You would think quality control would be an issue, but they actually have decent reviews.
There was actually a repair franchise named "Handy Andy" in our town. Called them once or twice but they were always booked solid.
I just started my handyman business thanks to you.. a few months of watching all your videos, I also was an electrician for about 4 years
(IBEW 613) it really gave me an advantage and Tomorrow is my first day where I have 4 jobs lined up, it’s insane I just started a few weeks ago, bro you’re changing lives. Hope you get what you want out of life!
How are things going for you? I am going on my second year as an electrician, but I’m not sure if that’s what I want to do for the rest of my life. Being a handyman and starting a business really intrigues me, but I only have some electrical and drywall experience. Any advise you could give me?
@@danielvargas6694 jump in the water bro and go for it
haha love you bro, so relatable and accurate. True wisdom here. Following in your footsteps.
I think this information is very valuable to both those who want to start a business and those who own it and are running it to the ground. We need a life balance of being able to enjoy friends and family, but also enjoy what we do so that when we wake up in the morning we are excited to do the next project. I think managing a business is second nature for some, and nearly impossible for others. Nothing wrong with the handyman that does one job that takes him a month and earns 5k profit from it versus the business owner who does 4 jobs a month but pays 4 people to get things does 4x as fast and still only nets 5k profit at the end of the month. I'd rather be the handyman who has less stress and focuses on one client instead of the 4 clients and 4 employees.
I am newly a remodel foreman for great owner.(golf claps!) So I kinda see myself as the craftsman character. But from my position, as we create these crews and systems of operation, I kinda see my functions changing to a beginner CEO mindset. I also feel like getting a crew to make money is the easier part. Its weird, and cool. Im enjoying it. Ive always had the 'zoom in zoom out mentality', so I believe I think more CEO-like a bit more naturally. The company owner is more the CEO type, but I dont think he knows it yet. He a young guy that enjoys working hard. He owns a couple other small businesses. One of which is a small commercial boat, that he captains. So he likes to work hard and make money.And I love the craftsman aspect, while also learning actual business mindsets.
I just started my own plumbing comp. What you say around 4:35 IS THE TRUTH! Being a plumber is one thing and being a business is another thing different. I want my daughter to own the comp. and I will be the Plumber. Until then "stay small, keep it all.
RMO (coo) of an s Corp, you nailed it. We have 18 employees after three years and hit 7 digits. Never commented, but been watch you since before I partnered up and started to business. Did it cuz my law and management skills exceed my hands on skill
Thanks handyman ! Yeah I see what your saying, I plan to stay small as a business and keep it simple , I do plan to open that vanguard account as soon as possible for my future . Hey have a great weekend and week !😎👍👍
What's that vanguard account for?
webtheweb Vanguard account is for purchasing mutual funds
I'm running my own handy man business right now. Working a full time job and using my spare time to do side jobs for my business. In a few years I'm planning to focus more on residential renovations. Once I have established myself more with my customers and have made more connections with people who specialize in other trades I.E. plumbing, drywall and taping, electrical, carpentry etc. I plan on taking on larger scale renovations in the future. Basically I want to organize the renovation with the customer, deal with the designs of the renovations, scheduling, quality control, and payments. So I would be facilitating the job while being on the job site with the other tradesmen that I hire onto that specific job. Making sure everything goes smoothly while helping the subcontractors with moving material or picking up coffee and such while I'm there. I would make my profit by charging the customer more than what I'm paying for the materials and the crew that I hire on to complete the renovation. Any thoughts on this idea?
Thank you, Michael
I used to want to be the CEO then I started dealing with people! Now I’m looking forward to tip and trick for crown molding. So times when I listen to this channel I really wonder what your library looks like? This savvy shared here didn’t all come from OJT and observation. There’s some study been happenin up in here!
Perfectly worded. Truth. 👍
You have to read all these fricken books! I love this guy.
Squirrel! Good to see Polly back on camera.
Excellent truth video
Great video brother. A mentor of mine a retired HVAC guy. He talked about how he had 10 trucks at one point. He downsized to him, secretary, and a good journeyman. He said those were his most profitable years. Always tells me “it’s not how much you make, it’s how much you hold on to.”
I’m at me, an apprentice, and the guy that runs my website.
I’d love to grow one of my businesses to be hands off.
The other I want to be just me building the custom furniture and cabinetry I want to build.
Wise words.
I’m happy right where I’m at as a one man band. Wouldn’t mind a helper, but that’s the max.
Heck, I can’t even find a decent helper anymore
My DIY Adventures exactly. I’d LIKE a helper, but there are none 😂
I had another carpenter with me for almost 15 years, when he went to a different job, I blew through like 3 helpers in a couple months then I decided to just do it all alone!
I roll solo, if I need the help, I have other solo carpenter friends around, it's kind of nice, we hire and fire each other all the time,😀
😂
Very underrated content, good sir.
Every business is good if you have all machines and equipment and know how to use it efficiently.
Two or three people is best handyman business I have seen but I knew a guy who could build houses by just hiring teams simultaneously.
Depends how your skills evolve and how quickly business takes good direction
Good video you and I are, of the same frame of mind. The handyman business is built on the reputation of the owner. If you and I wanted to sell our business, what would we sell? Selling the name, if it's a trade mark, sell the accounts if their renewable each year commercial, or industrial accounts. Sell the equipment, vans, trucks, tools, etc. Sell all the accounts, phone numbers, and customers if they are repeats accounts. Then how would one put a value on these accounts? This is where a CPA comes into play. The business has a dollar value, based on the year end profit and loss statements. So it very important to have 10 years worth of tax returns on the business, and bookkeeping on all the accounts. Also social media can play a big role in the, value of the business. The name of the business is as important, as the work that is done. If you hire someone , and that person doesn't have the same selling skills, or personality to go with the reputation you created. Then over time the business never be the same, as when you the original owner established.
I like where you are going with this i feel like it is all about being able to recognizing your strengths and weekness. I personally enjoy being a handyman love chopoing it up with my clients and fixing there broken whatever and seeing them smile when I finish doing something that i enjoy. I hated being a boss runnig any number of employees from 1 to as many as 5 just not for me. If you want to be successful know your limitations, stay in your lane and hire the right person to do the jobs you don't accell at. I have an accounting person, tax person, lawyer, marketing guru, why I hate those jobs but they love them and thats why i like working with them. I chage enough to pay them and my self and my customer's don't mind paying it because at the end of the day we are all smilling including the most important piece of the equation the client. If you have never read it check out Rich Dad Poor Dad by Robert Kiosaki great way to look at any business.
Great sense of humor!
Would you think trim carpentry is a good start for this field of work? Not going to get my license for HVAC, Eletrician, etc.... but I feel that trim carpentry is a good way to begin, get to know others in construction / handyman work, earn money with little startup cost. What is your take on it? (If you answer)
Hey!
I’ve been doing some handyman projects for a while now and have started buying lots of my own power tools.
I definitely strive to achieve more than self-employment, I want to own businesses and make strategic investments.
I’ve always been passionate about acquiring the skills and resources to invent and market a product so I can retire on royalties!
You nailed it!
Honest Lee Should Watch This. The handyman is a dying breed I don't think there are enough of us to go around to even create a franchise. If you know what you are doing you didn't get there overnight.
One rule for money management is to pay yourself first (this is the owner's payment.) Then pay yourself for your own depreciation - gradually you will lose the ability to do those things that were once easy. Then pay your salary equivalent and finally pay your expenses of doing business - cost of materials, depreciation of tools, transportation costs, marketing, etc. If you can and will do all those things in that order, life will be good. Sounds like you are doing all of it - great job.
Always clean tools before putting them up, especially paint tools!
Really?
Yeah, the paint will harden
Too real, bro.
I'm about to try and start a small handyman business. I work 40 hours a week in 4 days and will perform work on my day off. I have electrical and plumbing knowledge. I have done all the work to my house and feel comfortable doing some easier jobs in other peoples houses like switching out outlets, switches, fans, new can lights fixing leaks, switching bad garbage disposals, painting a room, even working on a car as i fix all of my vehicles.
for me there is little risk. If it fails, I havent lost my job. If it takes off and I'm getting way more work than I can do and I see ill be making more then I may switch over. I'm going to advertise with signs on telephone poles in ricb neighborhoods and hope a few call me and I can land a job or two, and incentive them into recommending me to their neighbors by getting a $50 credit if the new customer mentions you recommended me. 1/4 of these houses are summer and vacation houses so I may try and do some home check ups, winterizing etc. I may charge a 100 fee to drive out there and walk around the property and into the house if they want. Ill definitely have a camera on me and let the customer know I will be filming so there is no question what happened inside the house while I was there alone.
I’m growing my handyman business. I do know I will need to outsource managers and workers to do everything I have planned
Good man
No thanks to having employees. The guy that gave me most of my work for several years got tired of guys who wouldn’t show up, wouldn’t treat customers right, and would steal money from him. Now he works by himself, and he was a much better manager than I could ever be.
People don’t plan to fail ::: they simply fail to plan.
The wife has a licensed in home cake business. People are constantly hammering her to get a storefront. Plain and simple , she's happy and doesn't want the hassle.
Doing business and owning a business are two very different things. If you want to own a business, do it on the side: let it grow organically, keep it separate from personal assets, and bootstrap for as long as possible.
I work for a general contractor and am starting to build a “handyman” side job. Once it is to a point I can do it full time I still have no desire to have employees. I’ve seen too many people run a business and deal with all that comes with having employees. I’d rather be self employed and invest for my future.
Does anyone know the title of the video where he talks about his investments?
Im reading the other comments! And I guess Im just too young n dumb to feel similar yet. But u all r still my teachers. Thanx guys! Lets just hope I dont get knocked the f@*& out as I take my licks in the coming years. Lol.
Gonna comment first cause it’s the cool
Thing to do
Got me
"This and That" I saw THAT hahaha
After watching your finger staying off of the trigger I can tell you own guns. Its funny how it transfers from fire arms to everyday life. I do the same thing all of the time
Do handymans have a dollar menu?
One thing to keep in mind is that you don't have to try a full time business. I have a full time weekday job and just do it on the weekends for money i mostly squirrel away for old age. There's some perks to it in that you can pick and choose what jobs u want and if they don't like the price it's not a big deal.
If your thinking about starting you own business, for example a plumber starting a plumbing business - do yourself a BIG favor and read the book "The E-Myth Manager" by Michael Gerber. The "E" is for Entrepreneur. In a nut shell, just because you're a good plumber, doesn't mean you will be good at running a plumbing business. The difference is that you have to work "on your business, not in your business" which is the big difference. You're welcome.
Newbies, lf you got mad skills and go to work for yourself dont ever call yourself a handyman. Just the name alone is suicide. Most people cant do all the things this cat can do. Thirty years in the business You need to to specialize. Dont make the same mistake l did. Homeowners think oh a handyman cheap cheap cheap. I started speacializing in drywall repairs make alot more money in a large city.lets get for real this guy is smart and got skills. Hes top 5 percent in the industriy Thanks for your videos. l doubled my rates because of you!
Some people have bigger goals and of course you will need help from outside Specialists that's business. You can expand your handyman business in a small way by taking on employees.
It depends upon your objective when you start your handyman business. My goal has always been to make, and sock away, a massive amount of cash money and other liquid assets continuously. I'm actually surprised at how much cash I have accumulated in 12 handyman years and I live a nice lifestyle. When, and if, I decide to do something else, my handyman business will have succeeded beyond my wildest dreams back in 2007 with a 1997 S10 pickup truck and a hundred dollars in tools.
The key was getting hooked up contracting in the Residential Home Rental Property Management industry. The vagaries of Realtors, Commercial, and individual homeowners kept me barely alive in the beginning. Getting rid of all but the best of them, and going Property Management Contracting, was the greatest thing I ever did for myself.
/
Just like a murder-once you involve someone else in your business-it will fail.
If you take someone on or employ multiple employees, your reputation will sink. No-one has your best interest at heart whether it be quality of work or customer service. If it's not their business, there'll always be that day when they say 'sod it' I'll use inferior product or ignore a problem to avoid further work. I've worked in partnership with other trades, picking better tradesmen than me but would never employ someone.
Handyman is singular!
And I never murdered anyone either!
I have that sprayer and that is something that I want to do and that I can do.
I think the trick to growth may be combing the haystack to find the "right" people. Then to find them in excess. Always being looking for someone worth giving work. I could be naive and wishful thinking or we've found out how to find our cornerstones. And dealing with people should never be a deterent to make more money.
I started a business years and years ago. My fist year I walked away with 168 k profit. Then I got a 1.4 milllll contract with Florida to pick stumps up off the road for the hurricane clean up. My friends and family thought I was making it up. Lol, never laughed so much in my life. Being a millionaire at 28 with 4 kids and owning everything is priceless. For everything else there is master card. Screw debt. Your mind is what limits you. I will never consider working for a company again unless I get a lobotomy. And to think I’m just learning. I’ve just begun. Also, I average 2 to 3 days a week….lol. It’s kind of a joke how simple this is.
Thanks for all your insight the best man for crown molding installation is Spencer Lewis from Inside Carpenters, this guy is the best for Crowns and Trims look him up on his Tube You Channel thanks again Geoff
It's not a squirrel it's the acetone. Remember that they smell hundreds of times better than us. Anyways I love your videos! You are telling it as it is with great insight.
Everyone I know that has sold businesses end up selling themselves with it, whether it be for only a few years after the sale or they end up being the manager. Some guys I know have sold their businesses and went into sales for larger companies within the same field, competing against the people who bought their business.
I'm actually wanting to go the other way. I just want to work for myself, more one on one with my customers, and really just not even get involved with real big jobs. I think in the fast moving world we live in today, people have forgotten that there is still a place for plain n simple everyday handyman, and I am definitely trying to be that person. If I even have to hire a hand for an hr, I am probably not going to take the job. There's just so much little job work out there it's ridiculous, and I'll gladly leave the bigger jobs for someone else.
Sometimes I wonder if I’m just the guy that makes good cabinets but somebody should be watching my pricing and helping me grow. Things are so expensive nowadays, who catches my drift? This sucks, let’s go back!
Bro... does it ever get warm where you live? 🥶 ❄️
So, great videos. But where is that chainsaw smashing explanation?
My goal is to work by myself. The closer I've gotten to managing employees the further away I want to be.
I want to the hamburglar of kin struction.
You can still incorporate and remain small and benefit from all the tax advantages.. i know many companies where the president actually goes on site to perform tasks and supervise his teams. It all depends what you want.. the thing about being self employed is you can only work so many hours in a day.
The one obstacle i would say about incorporating a business is recruiting. If you are able to recruit the right resources your business will scale. It is all about recruitment.
Fido 🐕. is sitting on top of the outfeed table? Nice 👍 interesting topic of how a handyman business succeeds or fails? True most small business do fail, the ones that succeed might not be as profitable as they could? There are a lot of hats to wear when it comes to running a business and that’s a job in itself, where you are working for free or loosing money, when you could be making money for your time?
a peanut butter and jelly restaurant hahaha too funny
3:21 “Woo!”
😝
Staying small is the way to go. It is what created the middle class.
I design and build recording studios. I work maybe 4-5 months out of the year and make as much money as I did when I worked 24/7 every single day of the year and had 3 trucks. I had about 4-5 of my guys and a few subs on any given day on multiple projects. That was a nightmare of babysitting and having to come back myself to fix all the issues. Also the time spent trying to keep everyone busy that you don't get paid for. Forget it. Never doing that again.
Watched it again..straighttalk👍🏼
#ronaldmcdonaldhandyman
Looking forward to the crown video!
Why not!?
Or a professional pressure washing dude/much more. Great customer service. Restoration of paver collapse big or small. Paver sanding and sealing. Roof washing. Concrete restoration and much more. 9 years. Change is coming... Superintendent on a 2.5 billion. Building an oil refinery in Tanzania here shortly. I'll always fall back on this great business that is worthless without me if I get board after 5 to 7 years building our refineries.
Handyman vs Remodeling vs GC your thoughts?
Thanks for the question. I will make a video on it.
Another good way is to be a handyman for a real estate agent. A really good real estate agent.
If I would have never went to college I could have had good credit and would have bought a side by side duplex. Its hard and of course I graduated college in the spring of 2008 when the economy was in the tank.Of course I had to trash my credit to get a degree. Oh well... maybe in the next life.
I’ve been in carpentry and construction for years. Never started my own business but considering it now and this video exactly explains why I don’t want to “start a business” but rather just simply be self employed with my own business. From what I understand if you want to make long term money you have to invest what you have not hope for some crazy “McDonald” dream like what he’s saying. I’d rather have the freedom to work for myself and live frugally to invest my money than try to build some crazy business and get in way over my head and all that.
while i dont survive on my side business,i do have one and is pretty profitable for the past 3 years.Im a fabricator in my side hustle and sell online.Past 3 years have sold $35-40k a year in product.Biggest mistake i believe people make is trying to get bigger than they really are to soon.buying this and that and need a retail space or an employee.....slow down and put the time and work in first. then there is the business side,receipts,taxes and.... yeah, taxes..good day
I managed people in the Air Force and after 20+ years, its nice not having to deal with employee problem. Keep it small and less is more in my book. As long as im making money and making my own hours. Im a pig in shit
No way I like my freedom to make my own schedule.