What elements are essential to include in a handyman business plan?

All business plans follow the same basic structure with only a few variations where needed. However, there are certain elements that just cannot be removed or left out of a handyman business plan template . These essential sections include: Executive summary Services Marketing plan Management Financial plan

What market analysis and financial projections are typically included in a handyman business plan?

When conducting a market analysis for a handyman business, you need to evaluate the target audience in your business location. Make sure that you understand their needs in order to understand the market. When it comes to financial projects for a handyman business, you need to include at least the income, cash flow, and balance sheet going forward a couple of years.

How does a handyman business plan demonstrate the feasibility and profitability of the business?

By evaluating financial projections for a few years in advance (typically five), business owners can have a much better idea of whether or not the business will be profitable. When setting your projections, make sure to look at current market conditions as well as conditions over the last few years in order to establish a trend that you can use when forecasting for the future.

Handyman Business Plan Template

Created by:

[Sender.FirstName][Sender.LastName]

[Sender.Company]

Prepared for:

[Recipient.FirstName][Recipient.LastName]

[Recipient.Company]

Executive Summary

[Sender.Company] is a new handyman business located in [Sender.StreetAddress][Sender.City][Sender.State][Sender.PostalCode] (Enter business location).

The company offers various residential handyman services, including plumbing, drywall service, carpentry, and door and window repair.

[Sender.City] will provide local residents and homeowners with a variety of services to help keep their homes in perfect condition. Some of these services include:

Plumbing
Painting
Door and window repair
(Add service)

[Sender.Company] will primarily serve the residents and homeowners of (Enter business location) and the surrounding area. The demographics of these customers are as follows:

85,235 residents
45% married
25% with children under 18
75% homeowners
Median age of 33

These demographics serve our company well. With such a large population of homeowners, many residents will need a local handyman to keep their homes in perfect condition.

Business Description

[Sender.Company] strives to be the best handyman service in the area that residents can trust for all of their home projects.

[Sender.Company] is led by [Sender.FirstName][Sender.LastName], who has been a handyman for (Enter number) years.

Since incorporation, the company has achieved the following milestones:

Found a commercial space and signed a Letter of Intent to lease it.
Developed the company’s name, logo, and website located at (website).
Planned the suite of services to be offered.
Determined equipment, supplies, and materials needed.
Begun recruiting key employees and experienced handymen

Mission Statement

Goals

The following are a series of steps that lead to our vision of long-term success. [Sender.Company] expects to achieve the following milestones in the following (Enter number) months:

Date	Milestone
(MM/DD/YY)	Finalize lease agreement
(MM/DD/YY)	Design and build out [Sender.Company] office
(MM/DD/YY)	Hire and train initial staff
(MM/DD/YY)	Kickoff of the promotional campaign
(MM/DD/YY)	Reach break-even

Audience

[Sender.Company] will primarily serve the residents and homeowners of (Enter business location) and the surrounding area. The demographics of these customers are as follows:

85,235 residents
45% married
25% with children under 18
75% homeowners
Median age of 33

Strengths

(List the strengths that make your business unique)

Services

[Sender.Company] will provide local residents and homeowners with a variety of services to help keep their homes in perfect condition. Some of these services include:

Plumbing
Painting
Door and window repair
Floor repair
Drywall installation and repair
(Add service)

Marketing Plan

[Sender.Company] seeks to position itself as a high-quality, friendly, and convenient handyman business.

The [Sender.Company] Brand

The [Sender.Company] brand will focus on the company’s unique value proposition:

Client-focused installation and repair services, where the company’s interests are aligned with the customer.
Service is built on long-term relationships and personal attention.

Promotions Strategy

[Sender.Company] expects its target market to be individuals within a 10-mile radius of its location. [Sender.Company]’s promotion strategy to reach these potential customers includes:

Referrals
Website/SEO
Social Media
Publications
Direct Mail
Billboards

Pricing Strategy

The pricing will be determined by the materials needed and the amount of labor required to finish the job. Pricing will be moderate and less expensive than our competitors but more expensive than lower-quality, efficiency-driven handyman and repair businesses.

Operations Plan

Functional Roles

[Sender.Company] will need to fulfill the following functional roles to execute its business plan and ensure the company’s success:

Service Functions

Installation services
Repair services
Customer service
(Add function)

Administrative Functions

Social media management
Website management
(Add function)

Management Organization

[Sender.Company] is led by [Sender.FirstName][Sender.LastName], who has been a handyman for (Enter number) years. Throughout this time, he has worked on a variety of installation and repair services, both while employed by local handyman businesses and while operating alone.

Hiring Plan

[Sender.FirstName][Sender.LastName] will serve as the Owner and Manager of [Sender.Company]. In order to launch, he needs to hire the following personnel:

Assistant Managers (1 to start)
Administrative Staff (1 to start)
Handymen (2 to start)

Financial Plan

Annual Income / Profit/Loss Statement

Income Statement / Profit/Loss Statement
	Year 1	Year 2	Year 3	Year 4	Year 5
Total revenue:
Cost of services sold:
Gross profit:
Operating income: Interest expense
Pretax income: Taxes:
Net income:

Cash Flow Statement

Cash Flow Statement
	Jan ‘23	Feb ‘23	Mar ‘23
Starting cash balance:
Cash received: Cash from operations: Cash from sales:
Subtotal cash received:
Additional cash received: (List sources)
Subtotal additional cash received:
Total cash received:
Expenditures: (List all expenditures)
Total cash spent:

Net cash flow:
Ending cash balance:

Balance Sheet

Assets and Liabilities
Current Assets:	Year 1	Year 2	Year 3	Year 4	Year 5
Cash
Accounts receivable
Inventory
Prepaid expenses

Fixed Assets:
(List all)


Total Assets:

Liabilities
(List all)


Total Liabilities:

Equity
(List all)


Total Equity:

Funding Requirements

Funding Requirements
Required for:	Value:

Confidentiality Statement

The confidential information and trade secrets described above shall remain the exclusive property of the Company and shall not be shared or removed from the premises of the Company under any circumstances whatsoever without the express prior written consent of the handyman business.

Addendums

Please find listed below any additional addendums related to [Sender.Company]:

(Add any relevant addendums)