Handyman101 | MONEY | THE HANDYMAN

[@TonyV0125]

Loved the video. I went from a great paying healthcare job to handyman work. Money is one thing but being self employed and your own boss is what made it worth it.

[@James-lo5ne]

I was working retail, I remember sitting there waiting for customers. I was layaway and the rules were at the front door and in the hallway. A lady comes up with a cart full of stuff not allowed. I refused and she spit in my face and slapped me. Manager did nothing and apologize to the customer. Over the next few weeks I applied to schools and looked at ways to make money freelance. I bought a few cameras and lenses on the way out and just buillshitted my way to a full time wedding photographer. I don't think I could ever work for a manager again, even though bridezillas do make it through the screening process I can choose who I want to be around. it's not my full time work anymore but I still like to pull stuff from that experience. I'll sleep on the park bench again before I work for a derek again.

[@dks13827]

Let me guess... african ???

[@82camino96]

Awesome brother. I’ve been really looking forward to these videos. Quite appropriate as I am beveling baseboard.

[@GodGunsGills]

That's why I thank God I get military retirement on top of my tradesman projects. I respect you though for your full time grind

[@timothygarcia813]

Handyman you have a great attitude and business philosophy. Thank you for sharing them with us.

[@MonK3yzUnkL]

This information is so important. One might think it is just common sense, but really it is good business sense, which many people don't have. Good lesson!

[@jorgejimenez1877]

Great topic! I wish you would have gone a little deeper though. What type of liability insurance do you have? What does it cover? Are your tools insured? How do you have health insurance? Life insurance? Is there insurance that covers you as a self-employed person in case your injured either on or off the job and can't work for a period of time? Taxes: How do you handle taxes? Do you set a certain percentage away every time you do a job? What do you keep track of and how do you keep track of it for deductions? Gas? Mileage? Tools? Job materials? How is your business structured? Is it a sole proprietorship? An LLC? Do you pay yourself a salary or just keep the profit from every job? I could probably keep going...

[@TheHandyman1]

I will be sharing my experience with all these topics in up coming HM101 videos.

[@jorgejimenez1877]

Awesome! Looking forward to it.

[@survivalSC]

Jorge Jimenez if you need answers to all those questions you might want to just work for a company. I am not trying to be rude but what you just asked him for was a break down from accounting to how he is running his company. Just keep it simple. Use a account software and you can get a app on your phone that will keep up with mileage write offs. Get some jobs and money coming in before you worry about taxes.

[@careman71]

"I'm not good at teaching sales." I'll still listen, because I don't really care for the people that are professionals at "teaching sales." Most of them seem greasy and dishonest.

[@skrobo21]

Please keep more of these coming! How much of a factor did marriage weigh in on your ability and confidence to quit the formal job and go self employed? Or did you start the handyman before marriage? You have the backstop(or at least financial cushion) of your wife's salary, insurance, etc...

[@TheHandyman1]

I went full time self employed 3 years before meeting here. Once I got married I did focus more on the success of the business and making sure It it was sustainable

[@jakejones5991]

I run a small painting company and get lots of great advice from you! Keep it up!

[@fixerupperer]

I really dont understand those people who comment or write you saying you charge too much/ you're doing something wrong by charging what you do. You do high quality work, dont cut corners, give good customer service. It sounds like customers are happy to pay what you charge, its not as if youre forcing them to hire you. People really dont understand the basics of economics and how much different markets vary.

[@yoso585]

I’m 57 and just started back in the biz. And I’m in complete agreement with the Handyman. If you’re going to do good work, get paid good as well.

[@stang7043]

I would love to have my own business. But I'm 48 and have a family. I have a cushy job working for the state. I have medical coverage and a pension. At this stage in my life, the risk is greater than the possible return. Maybe when I retire I can start a small handyman service. Great video man. BTW - you need a Yeti Rambler. lol

[@GodGunsGills]

stang7043 start doing it on the side when you have time. You have to work on the trade to be skillful

[@stang7043]

I have a ton to learn. But from the contractors that have done work in my house, I think the biggest thing is doing it clean. I've had "electricians" run a wire over 10ft and not put one staple in the wire. Usually, I have to go back over the job and clean it up. But now I refuse to let anyone work in my house because most jobs they do I have to go back and do it right or clean it up. A lot of sloppy work. Friends I know own their own business, not handyman, and they say the biggest complaint they hear is the contractors don't show up when they say they are going to or never show up at all.

[@weighit]

I Just hired a electrican to do a job. He was on time for the estimate and was dressed nice and clean, wrote a estimate we could read and understand. He showed up on time and was neat and orderly. He said after the job was complete he wins just about every job he quotes, by being clean, ontime and nice. Collects zero money up front and gets paid before he leaves the job. Will use him again and reccommend him to others.

[@stang7043]

My brother in law was actually a general contractor at one time. He ended up building a custom house for someone fronted the money and at the end of the job the customer refused to pay. They were dragged through court and he ended up losing his business from it. I heard it's a scam that people play each way. Contractor and customer. They refuse to pay and take you to court. This way they usually don't pay the original cost. Sometimes it's not worth the court cost. Sometimes you win in court but end up losing money because of court cost and you only get your original cost back.

[@GodGunsGills]

stang7043 yes sir! Some customers will do that and it's just not the contractor. I do half pay after first day and the other half upon completion. I hate to say this, but if anyone did that to me I would kindly undo half my work!

[@Twelvegoldteeth]

I have a great job right now but the more I watch your video’s, the more I begin to learn the trade and am desperately looking to try to do handyman work on the side. Like you said in a earlier video, most handymen on the market now are lazy and incompetent. I am self taught and watching your videos have taught me to respect the work I perform.

[@jonnymountain8211]

Very informative and an intelligent place where to start. All of these items are what make up a typical burden rate of a company, or some blanket the term overhead to cover all of these things. Typical overhead is calculated by adding the expenses (typically found on Income Statement) of the items it takes to run a business which is not directly related to building the product or service (which is exactly what he listed). Starting backwards with knowing what the income level needs to be in order to cover all listed expenses is smart because instead of looking at job A, B, and C will pay this, it’s more like Job A, B, and C must equate to this.

[@bigsmallblock9480]

Thanks, this is great insight for anyone starting a small business.

[@SIAFU]

more please....loved this insight...great job.

[@peterjanis7491]

All so true. And add in retirement and no match from the employer. dental insurance is another "cost"

[@jfrostcvl5]

I've been in the same line of work as you for 14 years, 5 have been self employed. I'm just learning how to comfortably price my own jobs. I agree with you, a lot of the way I price is based upon what I need to make, want to make, ect. How do you value your time! That's what you have to ask yourself.

[@TheHandyman1]

I get a lot of questions every day from guys that really need help with pricing. They always ask what web site I get my pricing from. Most guys are not "selling" there work and simply trying to charge a random number for the work and hope it sticks. There are apps and programs that help do this but the pricing is a lot less than the true potential . Thanks for watching

[@chrischandler7930]

If I missed something then ignore this comment but what was the sales technique you used to increase your sales to each customer? Great videos, really enjoy watching them!

[@davidgibson9866]

I remember once back in the day Tommy Silvia and Norm Abrams made mention of a 7% price padding to cover the unforeseen ....

[@slicktype001]

David Gibson | All materials I buy on an hourly based job, is marked up 50%. No mater how cheap or expensive it may be. On proposal jobs, I mark up 100%. As crazy as that may sound, I land more jobs than not. Solid “word of mouth” reputation is king! However, I need to figure out my overall pricing as I’m leaving too much money on the table.

[@brandong6244]

keep em coming! really helpful

[@b_aleman]

Can’t wait to hear your insight on the matter

[@congerzak1]

Great video; I think of you more as a mentor than content creator/KZbinr. Thanks for your down to earthness.

[@martinescoto1599]

How did you get started how do you know so much? I been taking a couple of courses on hvac/elec/plumbing and carpentry but I know nothing beats field experience, am a retired vet, I used to be an engineer with the corps, I retired with a with disability am going to therapy and group therapy, but over the years I found that I just like fixing things. I want to be a handyman I feel at peace when I work with my hands, and realized college is not for me, I want to go work for someone whos willing to teach but most people I come in contact are scum and cheat on customers I want to do it the right way. what can you recommend for someone who really just likes the job and looking to get started? I been told to start with interior carpentry.

[@philsbbs]

Once I went to quote for a IT job "configuring cisco router" but did not want to do the job so over quoted £1000 for a day rate. They agreed i was shocked, dont get many chances like that in life. lol.

[@sergioramos734]

Awesome video.. Infirmative and may be even an eye opener for peopple thi king handyman work costs an arm and a leg... I also would like to add or factor in besides all the sales skills, of course handy man related Si lls and knowlege... The fact of learning or developing some level of managing skills.. Otherwise you start charging money left and right and spending or investi g out of time and go broje as soo. As yoy start self employed... Self employed equals self administrator, ... Thank you and keep up the good work

[@TheHandyman1]

You have a very good point. A lot of highly skilled guys try to got to work for themselves and fail miserably because they have no project management or business management skills.

[@WhiteEyes25]

Keep these coming!

[@dks13827]

Where I live, a good guy who can install ceiling fans, faucets, things like that, could do well as a part time guy.

[@GodGunsGills]

Nice and pimping thumbnail brother

[@Desert2GardenLV]

I get LOTS of profit sharing being self employed hahaha

[@ryanbrockley7463]

Love your videos

[@argospaintinganddecorating3639]

Thank you for videos.

[@phyllisstein1837]

Hahaha, who does your artwork? That thumbnail is too much. Hahaha. 😆😅🤣😂

[@meqt172005]

Great job with the thumbnail!

[@thetdiguy3140]

I started at my job in January 2020. They started me off with 3 weeks payed vacation. It's getting harder for employers to find skilled labor and it's starting to show.

[@yoso585]

“God Damn! The Handyman.” Who can tell me what song I’m hearing in my head? It goes back to when music was cool.

[@nojsub]

God damn the pusher man

[@jase5415]

your right its about selling yourself and your skills...projection and not just in business

[@andy-jac]

Nice things to review when you are tempted to have "invoice mercy" on a Property Manager. Today, I'm wrapping up a normal day (now that's a perk!) Then an urgent phone call. "Can I please go by a new move in and fix a Hunter ceiling fan and clean out a shed?" Now, I don't mind the ceiling fan (needs light kit), but I hate "clean outs." I tried to opt out of it, but no dice. They are desperate. So I charged them $100 to clean out and haul the shed stuff to my dumpster. I could care less that it was only an hour's total work and I got two free antique pick axes and a bunch of brass in a box as a bonus. Tomorrow, PM wants me to drive 20 miles to a nearby burb. Fix a leak and move a W&D to storage. My invoice will knock his hat into the creek because it's basically half a day. I've found that pricing is like the accelerator on a car. The more I charge PM's the less of that kind of work I get. It's funny though. I quote $39 custom made window screens and hardly ever get any takers. I just can't do it for less than 50% profit. On the other hand, I charged $74 to install a garage door lock, and it's less work and more profit and I get tons of garage door work. Go figure. Thanks for posting these videos! You Da Man!

[@sethbracken]

You’ve mentioned in two different videos that you watched lots of how-to videos for sales. Could you make a playlist with the most memorable ones? Thanks for all you share.

[@ig33ku]

That money, teach me sensei!!!

[@jklworkshop5886]

Looks like you have someone at your door that's very interested...so says the silhouette...could just be paint on cardboard though...hard to tell.

[@quentinsherratt7969]

Excellent 🎯💯

[@abelandau7629]

I really appreciate your encouragement I currently have a full time job working for a contractor and I started taking small Jobs on my own time and just made my first $1000 it's so cool when someone calls you for a small job and start adding more stuff one after each other I'm hoping to be fully on my own in the next few months

[@jeffreyweaver782]

Another company benefit that should be factored in the decision before they make the leap of self-employment: % of matching your 401K contributions once vested. Please cover some of the advantages of being self employed to counter what is given up in the corporate world. Tax benefits? surely there must be something.

[@RES_Plumbing-Drain]

Make some videos on sales techniques, will be interesting and helpful.

[@hotrodhog2170]

Handyman Pimpin'!!!

[@CerealKillerGT]

When you buy supplies for a job, and you wind up having extra. Do you leave them with the customer or do you keep them yourself and use on other projects if needed? If you keep them, do you still charge the customer the full price of the material? Example, didn't use all the wood you bought for a project or didn't use all the paint and so on.

[@jesterraj]

Great insight.....

[@davecarroll9904]

What do you think of Home Advisor

[@Dragon90815a]

Your the richest handyman in the world. $500 limit here, been doing it since 2002

[@TheHandyman1]

You must be in California

[@psicopatalucifer]

Nice.

[@mainmast8955]

i've always hated the word "handyman", it's almost pejorative. i call it skilled labor at least. i love to do perfect work on anything from slabs to roof caps. don't tell anyone but i'd probly work for free, and i have, and not always on purpose. thing that gets me is hardly anyone can tell the difference between La Pieta and a sand castle. i was told by one contractor that there is good and then there is good enough. one thing for sure, i shouldn't be making out my own bills or be in charge of collecting. should have retired to south of France 30 yrs ago. spend all my time reviving a 15th century chateau. labor of love.

[@asinger261]

Do you have an everyday tool bag video?

[@TheHandyman1]

I don't use a tool bag.

[@gailnext]

People don't retire comfortable unless there executives or have outside assets. Anything else, pensions, SS, 401k, IRA are all to get by. Don't rely on others to soften your retirement. Or work till the wheels fall off.

[@josephchianelli3623]

Man you keep dangling the carrot. What's the dang technique you tried? Mind tricks, up sell, spill the besns!

[@JordanYager16]

Do you ever have to turn down work due to skill/know-how restraints or do you figure out how to do those tasks? If so how do you go about it?

[@TheHandyman1]

The only sill I don't have and haven't pursued to learn is air conditioning repair. I turn down jobs that don't pay enough for it to be worth my time.

[@JordanYager16]

The Handyman you bet. Keep up the good videos. I'd like to learn a bit more about wiring a plug or any electrical if you get the chance to film it sometime. Thanks

[@sectorT-dv8mc]

I would like to know maybe in a video is how you collected the payment for the $9000 job you had. Did you have the client provide some money up front? I really like this way of thinking of setting the target and backing-it into your pricing. My other question is how do handle a competitive offer situation in that another competitor is racing to the bottom?

[@TheHandyman1]

I don't really have any competition. My customers recommend me to their friends and family. They do a good job of doing all my marketing and selling me. I haven't bid against another person in 4 years. On jobs over $1500 to $2000 I get 50% upfront.

[@slicktype001]

sectorT2018 | You’re in business to make $$. Don’t EVER sell yourself short in the pricing war. If you have potential clients asking you to meet or go lower than someone’s else’s proposal, that’s someone you DO NOT want to work for in the first place. That’s like asking for a discount on a slab of beef at a steak house. That won’t happen. Figure out your rate (obviously based on skill level) and stick to it! Only go up from there..... Don’t ever go backwards... If you do, you’re better off working for a company as apposed to working for yourself.

[@abm2958]

I'm in the same situation, no advertising or lettered vehicles these days and the calls never stop. There's such a market for people who do quality work, show up on time, will assist a homeowner in a time of crisis, and will take responsibility. Like you said just the referrals can be more than you can handle at times.

[@bsm6776]

It seems like the the labor intensive jobs the guys are on disability by 55. Id rather work smarter than harder.

[@slicktype001]

What sales techniques did you use to profit $14k in 14 days? Also, re your sales technique, what have you learned from the time you profited the $14k to nowadays? I have been to querying w pricing recently and have yet to find a descent sweet spot. I own and operate a residential management and maintenance company in the Boston area. 35 yrs old - 1st year in business, but over 20 yrs worth of knowledge in the building, remodeling and repair field(s). My knowledge base is quite extensive. Thx for sharing ....

[@TheHandyman1]

It was $9k in 14 days.

[@1decks]

did you blur out the dog?

[@James-lo5ne]

Are you going to still reply to stuff? I enjoy back and forth chat on videos.

[@TheHandyman1]

I always replay to comments but some people don't want to communicate out in the open for all to see.

[@jtsdeals]

I know you are pointing out some of the expenses/budget considerations of self employment, but with a traditionally employed spouse, you are able to take advantage of your spouse's healthcare, while taking advantage of a SEP IRA with your income, right?

[@ItsAdventureTime1]

FMLA! Stressed out? Take FMLA. Being asked to do something you don't feel like doing? Take FMLA. Don't want to meet goals or targets? Take FMLA. FMLA is destroying a lot of the benefits for hard working people because so many people are abusing it. I had a guy on FMLA that could call out whenever he wanted with little to no warning and without consequences. I couldn't replace him and the rest of the team had to make up all his work. Eventually they all said screw it, the anxiety and stress from the extra work by having the one guy on FMLA caused several of them to go on FMLA... LOL... Obviously I'm not a fan of FMLA

[@benspens]

thanks for the tips....i'm finally at the crossroad to becoming a full time general contractor... Going to quit my "career" job to make my own future without the limitations/security of a regular gig. Would you recommend starting as a sole proprietorship or LLC? or start as a sole proprietorship then convert to an LLC?

[@TheHandyman1]

SCorp

[@slicktype001]

Benspens | You can set up your business as an LLC and Scorp for taxes. At least this is what I’ll be looking into this year. Your best bet is research, research and more research on the matter. There’s no one right answer here... Good luck.

[@asiagreen5658]

Easy - do the price you think worth it - location, location

[@Kippaxx61]

Thousand bucks for a day the jobs you done were easy what’s wrong with the people who ask you to come to there house and fix these simple jobs

[@TheHandyman1]

Wealthy people who value free time more than money.

[@radby]

$50k a year won't cut it? lol ... you want to make more than an airline pilot. That's the reason why those who can, WILL DIY any handyman jobs they need. You guys just charge too much. People are not dumb, they pay because they have no choice... they know they are being ripped off. In the end you get the cash and the lifestyle you want, but the handyman industry as a whole gets a very bad reputation.

[@TheHandyman1]

I would not be able to survive off $50k a year. I easily make over $200,000 a year and my wife makes over $100,000 per year.

[@JohnDoe-jq3qf]

Strange question-are u a Christian?

[@GodGunsGills]

Thumbs down hater alert! If you don't like it get off of it!!! Simple...