There’s money to be made for skilled and talented handymen! If you’re good with your hands and know a lot about home maintenance, starting your own small business could be a wise career step. The job outlook for these workers is solid, and there may already be many handyman job opportunities in your area.
Let’s take a closer look at the current handyman job outlook, including the average handyman’s salary and ways to earn even more in the field.
How much does a handyman make?
According to the Bureau of Labor Statistics (BLS), the average handyman’s salary in the United States is $44,920 as of May 2021. This is an hourly rate of $21.60 across all states and industries.
A handyman’s salary can vary depending on where they live and work. Areas where handymen earn the highest annual salaries are:
- Alaska – $53,370
- Washington, D.C. – $53,270
- Massachusetts – $51,190
- Hawaii – $51,710
- New York – $51,530
The industry you work in also impacts how much you can expect to earn. Handymen that work in elementary and secondary schools make nearly $47,000 on average. Local government, colleges and universities, real estate, and hotels and resorts also pay well.
What is the job outlook for handymen?
The BLS presents a positive picture for aspiring handymen and handywomen (classed as General Maintenance and Repair Workers in their database). As of 2020, there were over 1.4 million handyman jobs in the United States. This number is projected to grow by 8% by 2030, translating to 117,000 new positions.
States with the highest employment rates for handymen are California, New York, Texas, Florida, and Illinois.
How to Earn More as a Handyman?
While you might be able to make more as a handyman by moving to another area or switching industries, these are not always practical options. You may need to think outside the box to find ways to boost your income.
Popular ways to earn more as a handyman include:
- Learning new skills – Education and training in areas such as HVAC installation or carpentry could help you find new customers and build your repeat business. You may be able to increase your handyman hourly rate as you become more skilled and gain additional experience.
- Getting licensed – Having a handyman license is not required in many states if you are only doing minor repairs and small jobs. However, getting licensed could allow you to accept bigger jobs that pay more. It could also help you set a higher hourly rate, particularly if your competition is not licensed.
- Focusing on a specialty – Are there jobs that you not only do well but can do quickly? You might consider advertising this service if it is particularly profitable. Creating a niche market based on your talents could position you as an expert in that area and help you increase your handyman hourly rate.
- Offer basic home repair classes – Teaching homeowners how to DIY simple home repairs could be a money maker. You will earn an instruction fee per student while empowering them to take care of small jobs that may not be as profitable for you. Your students may appreciate you sharing your knowledge and might be more likely to call you when they have a big job that they cannot do themselves.
Insurance for Handymen
No matter what your handyman salary is, you’ll probably want to protect the small business that helps you earn it. Business insurance designed to fit the needs of handymen and handywomen could provide an important safety net for what you are building.
Handymen frequently interact with third parties, such as your customers or other contractors. This exposes your small business to liability risks that could be very expensive to resolve. Insurance coverage can remove the financial burden of legal fees and compensation from your shoulders and help ensure your business’ success.
There are many types of insurance that handymen consider, including:
- General Liability – This coverage protects your business against bodily injury or property damage lawsuits from outside (third) parties.
- Business Owner’s Policy (BOP) – These policies protect businesses against several of their most common exposures in an affordable and convenient way. A BOP combines General Liability insurance with other types of coverage, such as business interruption and equipment breakdown.
BizInsure makes it simple and easy for handymen to compare insurance options and buy policies online. With just a few clicks, you could be covered and focusing on ways to increase your handyman salary!
Compare insurance for handymen with BizInsure today!