5 Factors that Make Handyman Franchises Good Investments

Rob Lancit

Date

Jul 01, 2019

Is a handyman franchise a wise investment? For many people, the answer to that question is, “yes”. But why? Of all of the many franchises you could buy, why a handyman franchise? This article will look at five factors that make handyman franchises good investments. But before we do that, please note that the term “handyman” just denotes a person who does various handy work around houses and buildings. You don’t actually have to be a man to be a “handyman” and indeed many women are finding success as “handymen” or running “handyman” franchises.

1. There will always be work

You might think of handyman work as a bit of a luxury service; something that people won’t pay for in hard economic times. If you think that then, congratulations, you’re probably fairly handy yourself. It might be true that 100 years ago, maybe even 50, many more people knew more basic handyman skills than they do now. But fixing door knobs, replacing floor tiles, or installing shower bars, are not skills that a lot of people learn now. Our society has been trending toward people being hyper focused and excellent in one discipline (their job) and not much else. And that’s OK, because there are handyman franchises. And indeed, sometimes economic downturns necessitate more work for handymen, either because people have decided to stay in their current house and want to spruce it up or to spruce it up to get more value for it on the market.

2. There are newer avenues of work for handyman franchises

Not only are handyman franchises not running out of work, they are actually finding more work in new places. The large baby boomer generation are now entering their senior years and seniors have more mobility issues than do younger people. This means the houses they’ve navigated for years can become difficult and even dangerous. Some handyman franchises specialize in making modifications and installations to keep seniors safe in their houses.

3. Handyman franchises offer flexibility

If you’re working as a handyman, you can make your own schedule to a degree that many others in other occupations cannot. Let’s say your daughter is in her school play on a Friday afternoon. Well you can probably take the afternoon off and if there’s work to be done, you can do it Saturday. You’re in charge of a lot of your own schedule. And you can have a new work setting every week, so there’s no boring office to trudge to everyday.

4. Handyman franchises don’t cost a lot

Handyman franchises are on the lower end of the franchise cost list. You can buy a handyman franchise for as little as $50,000 of investment. This is largely because of the very few overhead costs associated with handyman franchises. Most handyman franchises are operated out of the home. Or, more specifically, the home or place of business the handyman happens to be working at that day. There’s no office or shop that you need to pay for. Furthermore, many handyman franchises have small staffs; as small as one, sometimes. So you don’t have to pay a lot in wages if you can do the work yourself.