The hiring of employees can be a great way to increase your income as a handyman. In my area, handyman helpers would earn from $15 to $25 per hour. After figuring in payroll taxes and workman’s compensation insurance the cost per hour would be closer to $25 to $35 per hour. Marking up the employee cost to $40 to $50 per hour to the client would net a profit. Multiply this number by several workers at multiple locations and it starts adding up to some real money.
Besides hiring helpers to do some of the grunt work, workers can add flexibility to your scheduling. They will enable you to overlap jobs. This is particularly helpful when jobs take longer than expected or run into additional problems. Tuesday’s work can start on schedule while your worker picks up the loose ends of Monday’s job. Several jobs can be started at the same time and you can leave a job site to estimate new work or to pick up additional supplies. The pool of jobs that you can take on will be bigger because you can accept more labor intensive jobs that you wouldn’t normally do.
Employees create many challenges. Can you find any that are qualified? Will they be honest and dependable? Will the quality of their work be up to your standards? Will there be enough of the right type of jobs to keep them working? With the slim markups that you’ll be making on employee labor hours you can’t afford to have them sitting idle. Your job turns into a supervisory and a marketing position where you’ll be applying your skills to meeting with new clients, estimating work, marketing your business and managing employees.
When you get to the point where you are turning away work because your schedule is full, it’s time to hire some helpers and build your empire!