Service Business Plan Template
Over the past 20+ years, we have helped over 10,000 entrepreneurs and business owners create business plans to start and grow their service businesses. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through a service business plan template step-by-step so you can create your plan today.
Download our Ultimate Business Plan Template here
Before we get into how to write a service business plan, here are links to several service business plan templates:
- Beauty Salon Business Plan
- Car Detailing Business Plan
- Car Wash Business Plan
- Catering Business Plan
- Cell Phone Repair Business Plan
- Child Care Business Plan
- Cleaning Services Business Plan
- Computer Repair Business Plan Template
- Construction Business Plan
- Consulting Business Plan
- Day Care Business Plan
- Dog Daycare Business Plan
- Dog Grooming Business Plan
- Financial Advisor Business Plan
- Hair Salon Business Plan
- Indoor Playground Business Plan
- Insurance Business Plan
- Janitorial Business Plan
- Landscaping Business Plan
- Massage Therapy Business Plan
- Nail Salon Business Plan
- Photography Business Plan
- Plumbing Business Plan
- Salon Business Plan
- Spa Business Plan
- Staffing Agency Business Plan
- Tutor Business Plan
What Is a Service Business Plan?
A service business plan provides a snapshot of your service company as it stands today, and lays out your growth plan for the next five years. It explains your goals and your business strategy for reaching them. It also includes market research to support your company plans.
Why You Need a Business Plan
If you’re looking to start a service business or grow your existing business you need a good business plan. A business plan helps you attract investors to satisfy your funding requirements, and plan out the growth of your entire business in order to improve your chances of success. Your service business plan is a living document that should be updated annually as your company grows and changes.
How to Secure Funding for a Services Business
With regards to funding, the main source of funding for a services business are personal savings, credit cards, bank loans, and angel investors.
With regards to bank loans, banks will want to review your service business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable, but they will want to see a professionally written plan. Such a plan will give them the confidence that you can successfully and professionally operate a business.
Angel investors are wealthy individuals who will write you a check. They will either take equity in return for their funding or, like a bank, they will give you a loan.
How to Write a Business Plan for a Service Business
The traditional service business plan format includes these 10 key elements:
Your executive summary provides an introduction to your business plan in 1 – 2 pages, but it is normally the last section you write because it provides a summary of each key section of your plan.
The goal of your executive summary is to quickly engage the reader. Explain to them the type of services business you are operating and the status. For example, are you a startup, do you have a services business that you would like to grow, or are you operating a chain of services businesses?
Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the service industry trends. Discuss the type of service business you are operating. Detail your direct competitors and your competitive advantage. Give an overview of your ideal customers. Provide a snapshot of your marketing plan. Identify the key members of your team, and offer an overview of your financial plan.
In your company description, you will detail the type of service business you are operating.
In addition to explaining the type of service business you operate, the company analysis section of your service business plan needs to provide background on the business.
Include answers to questions such as:
- When and why did you start the business?
- What milestones have you achieved to date? Milestones could include sales goals you’ve reached, new store openings, etc.
- Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.
In your industry analysis, you need to provide an overview of the service business.
While this may seem unnecessary, it serves multiple purposes.
First, researching your specific niche of the service market educates you. It helps you gain insights and understand the market in which you are operating.
Secondly, market research can improve your strategy particularly if your research identifies market trends. For example, if there was a trend towards more eco-friendly services, your company might want to emphasize its environmentally friendly initiatives.
The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.
The following questions should be answered in the industry analysis section of your service business plan:
- How big is the service business (in dollars)?
- Is the market declining or increasing?
- Who are the key competitors in the market? What is your market share?
- Who are the key suppliers in the market?
- What trends are affecting the industry?
- What is the industry’s growth forecast over the next 5 – 10 years?
- What is the relevant market size? That is, how big is the potential market for your service business. You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.
The customer analysis section of your service business plan must detail the target market you serve and/or expect to serve.
The following are examples of customer segments in the service industry:
- Businesses in need of a specific service, such as computer repair or consulting
- People who have a need for a service that is not currently being met
- People who are price conscious and are looking for the best deal on a service
- People who want to support businesses with social responsibility values
As you can imagine, the customer segment(s) you choose will greatly depend on the type of service business you operate. Some of your clients may want different pricing and product options and would respond to different marketing promotions compared to other target customer segments.
Try to break out your target market in terms of their demographic and psychographic profiles. With regards to demographics, including a discussion of the ages, genders, locations, and income levels of the customers you seek to serve. Because most service businesses primarily serve customers living in the same city or town, such demographic information is easy to find on government websites.
Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your existing clients.
Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.
Direct competitors are other businesses that provide similar services.
Indirect competitors are other options that customers have to purchase from that aren’t direct competitors. This includes businesses that provide an alternative solution to the services that you provide, but not the exact service. Think do-it-yourself and public options for similar services. You need to mention such competition to show you understand that not everyone who needs the specific services will engage your service business.
With regards to direct competition, you want to detail the other service businesses with which you compete. Most likely, your direct competitors will be service businesses located very close to your location.
For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:
- What types of customers do they serve?
- What products and services do they offer?
- What is their pricing (premium, low, etc.)?
- What are they good at?
- What are their weaknesses?
With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to stand outside your competitors’ locations and ask customers as they leave what they like most and least about them.
The final part of your competitive analysis section is to document your competitive advantages. For example:
- Will you provide superior services?
- Will you provide services that your competitors don’t offer?
- Will you make it easier or faster for customers to book your services?
- Will you provide better customer service?
- Will you offer better pricing?
Think about ways you will outperform your competition and document them in this section of your plan.
Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a service business plan, your marketing plan should include the following:
Product : in the product section, you should reiterate the type of service business that you documented in your Company Analysis. Then, detail the specific services you will be offering. For example, in addition to a lawn care business, you may offer to trim trees, bushes, and hedges.
Price : Document your business’s pricing strategy including the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the services you offer and their prices.
Place : Place refers to the location of your service business. Document your location and mention how the location will impact your success. Discuss how your location might provide a steady stream of customers.
Promotions : the final part of your service business marketing strategy is the promotions section. Here you will document how you will drive new customers to your location(s). The following are some promotional methods and marketing materials you might consider:
- Advertising in local papers and magazines
- Reaching out to local bloggers and websites
- Social media advertising
- Local radio advertising
- Pay per click advertising
- Banner ads at local venues
Your service business plan should discuss not just how you will find clients, but how you’ll hold on to them and discourage them from switching to one of your competitors. After all, it should be much less expensive to keep a client than to market and sell services to a new one. Some methods of retaining customers involve creating the perception of switching costs; that is, that they will lose money and time when switching to a new service company. Others involve fine-tuning your customer service skills into a system designed around retention.
Creating a loyalty program is a positive way to retain customers. This could involve a punch card system where customers receive a free service after a certain number of visits, or it could involve a points system where customers accumulate points that can be redeemed for discounts or free services. Other loyalty programs offer exclusive deals and privileges to members, such as special access to new services before they are made available to the general public.
Premium Customer Levels
Another related retention strategy is to reward the frequency and/or the amount of money that customers spend with your service business. This is often done by creating different customer levels and providing perks to customers who reach a certain level. The higher the customer level, the more exclusive the perks. Common perks include discounts on services, express service, access to unique services or products, and early notice of promotional deals.
A referral program is a great way to keep customers happy and encourage them to refer their friends and family members. This could involve rewarding customers with a discount or free service for every new customer they refer, or it could involve giving customers a set amount of credit for each referral. Either way, the referral program should be designed to be as simple as possible for customers to participate in.
Finally, customer testimonials can be a powerful retention tool. As potential customers research your service business, they will likely come across your website and online profiles. Seeing positive customer testimonials on your website and across the internet will help convince them that you provide outstanding customer service. You can create a separate page on your website that is dedicated to client testimonials, or you could set up a separate social media profile that features client testimonials and allows customers to provide feedback through a special email address.
Simply tracking the numbers and percentages involved in your customer retention can yield valuable information about what you’re doing right or wrong and how successful new initiatives are over time. Statistics to track may include client complaints, the average speed of complaint resolution, the percentage of customers in a given month who were using your services last month, 3 months ago, 6 months ago, a year ago, etc, and so on. When your staff is aware of these statistics and is given targets to work towards, the message that customer service and retention is a priority is heard loud and clear.
While the earlier sections of your service business plan explained your goals, your operations plan describes how you will meet them. Your plan should have two distinct sections as follows.
Everyday short-term processes include all of the tasks involved in running your service business such as serving customers, procuring supplies, etc.
Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to serve your 100th client, or when you hope to reach $X in sales. It could also be when you expect to hire your Xth employee or launch in a new city.
To demonstrate your service business’s ability to succeed as a business, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.
Ideally, you and/or your team members have direct experience in the service business. If so, highlight this experience and expertise, but also highlight any experience that you think will help your business succeed.
If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act as mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in a service business and/or successfully running small businesses.
Your plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet, and cash flow statements.
Income Statement : an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.
In developing your income statement, you need to devise assumptions. For example, will you serve 20 customers per week or 50? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.
Balance Sheets : While balance sheets include much information, to simplify them to the key items you need to know about, balance sheets show your assets and liabilities. For instance, if you spend $50,000 on building out your service business, that will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $50.000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.
Cash Flow Statement : Your cash flow statement will help determine how much money you need to start or grow your business, and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt. For example, let’s say a company approached you with a massive $100,000 damage restoration contract that would cost you $50,000 to fulfill. Well, in most cases, you would have to pay that $50,000 now for supplies, equipment rentals, employee salaries, etc. But let’s say the company didn’t pay you for 180 days. During that 180 day period, you could run out of money.
In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a service business:
- Cost of equipment to perform the service
- Cost of maintaining an adequate amount of supplies
- Payroll or salaries paid to staff
- Business insurance
- Taxes and permits
- Legal expenses
Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include any insurance company affiliations or remediation licenses.
Service Business Plan Summary
Writing a business plan for your service business is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will really understand the service business, your competition, and your potential customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful cleaning services business.
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Service Business Plan FAQs
What is the easiest way to complete my service business plan.
Growthink's Ultimate Business Plan Template allows you to quickly and easily complete your Service Business Plan.
What is the Goal of a Business Plan's Executive Summary?
The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of service you are providing and the status; for example, are you a startup, do you have a service that you would like to grow, or are you operating a chain of service locations?
Other Helpful Business Plan Articles & Templates
How To Start A Maintenance Business
If you’re thinking about starting your own maintenance or handyman business, you’re on the right track. Maintenance businesses are always in high demand, and with a little hard work and some planning, you can make your business a success. Here are a few tips to help get you started. First, be sure to target your market carefully. Identify who needs your services and figure out how to reach them. You’ll also need to have a strong branding strategy in place so that potential customers know what sets you apart from the competition. And finally, don’t forget to invest in good marketing materials that highlight your services and attract attention. With these tips in mind, you’re ready to start building your own successful maintenance business!
Learn property maintenance industry
The market for property upkeep is exploding. In 2012, the outsourced services industry was worth $143.1 billion in the United States, according to Statista. The market was predicted to rise to a $176.5 billion market in 2017 and would continue growing until at least 2022, according to forecasts at the time.
The housekeeping industry encompasses a wide range of employment. Residential maintenance work is one of the most significant revenue-generating tasks in the field. The average cost to maintain a home in 2018 was $3,067 per year. Portland, OR, and Fort Lauderdale, FL had the highest and lowest expenditures, respectively.
Non-residential property maintenance services are also in high demand. In 2012, these goods made up 55% of the overall industry income. Residential property maintenance income has most likely exceeded this figure, but nonresidential services continue to propel the market forward.
If you’re starting a business that provides property maintenance services, there are a few things you need to know about the industry. This includes understanding the different types of services that are commonly provided, the equipment and tools that are typically used, and the target market for this type of business.
When it comes to providing property maintenance services, there are two main types of businesses: those that focus on residential properties and those that focus on commercial properties. There are also businesses that provide both types of services.
The most common type of property maintenance service is lawn care. This can involve anything from mowing the lawn to trimming hedges and trees. Other common services include power washing, painting, and repairs.
To provide these services, businesses will need to invest in some basic equipment, such as lawnmowers, trimmers, and power washers. They may also need to purchase insurance to protect themselves from liability.
The target market for a property maintenance business is typically homeowners or businesses. Homeowners are often looking for someone to help them with yard work or minor repairs around the house. Businesses, on the other hand, may need someone to maintain their landscaping or handle any repair needs they have.
Choose the scope of your business
To get started in the maintenance business, you’ll first need to decide on the scope of your services. Will you be providing general maintenance and repairs, or will you specialize in a particular area like HVAC or electrical work? Consider your skill set and experience when making this decision.
Once you’ve decided on the scope of your business, you’ll need to create a business plan. This will help you map out the steps you’ll need to take to get your business up and running. Be sure to include information on your target market, pricing, and how you’ll promote your services.
Create a home maintenance business plan
If you’re thinking of starting your own home maintenance business, then you’ll need to create a solid business plan. This document will outline your business goals, strategies, and how you plan on achieving them. It’s important to have a detailed property maintenance business plan when starting any new business, as it will help keep you on track and ensure that your business is successful.
When creating your home maintenance business plan, there are a few key points to keep in mind:
1. Define your business goals and objectives. What do you want to achieve with your business? What are your long-term and short-term goals? Having a clear understanding of your goals will help you create a more focused and effective business plan.
2. Research your industry and target market. It’s important to have a good understanding of the home maintenance industry and who your target market is. This information will help you create marketing strategies that are more likely to be successful.
3. Create a detailed marketing plan. Once you know who your target market is, you can start creating a marketing plan that will reach them. Be sure to include both online and offline marketing techniques in your plan.
4. Develop a pricing strategy. Knowing how much to charge for your services is crucial to your success. Be sure to research your competition and develop a pricing strategy that will allow you to be competitive while still making a profit.
5. Create a financial plan. In order to make your home maintenance business successful, you’ll need to have a solid financial plan in place. This plan should include your start-up costs, operating expenses, and how you plan on generating revenue.
Calculate the necessary costs for your property maintenance business
In order to calculate the necessary costs for your property maintenance business, you will first need to determine how much money you will need to start and operate your business. To do this, you will need to consider the following factors:
- The cost of your equipment
- The cost of your supplies
- The cost of your labor
- The cost of your overhead
After you have considered all of these factors, you will then be able to determine how much money you will need to start and operate your business. Once you have this information, you can then begin to create a business plan and budget for your new venture.
If you need help getting started, there are many resources available to assist you. The Small Business Administration (SBA) is a great place to start. They offer counseling, training, and financing assistance to small businesses. In addition, your local chamber of commerce or economic development organization can also provide you with information and resources. Finally, don’t forget to speak with your accountant or financial advisor to get their input on how to start and operate your new business. With their help, you will be well on your way to success!
Register process for your maintenance business
First, you will need to decide on the business structure of your company. You can choose to be a sole proprietor, partnership, or corporation. Each type of business has its own advantages and disadvantages. Once you have chosen the business structure, you will need to obtain the necessary licenses and permits from the government. You will also need to open a business bank account and get insurance for your company.
Next, you will need to create a business plan. This document will outline your company’s goals, strategies, and how you plan on achieving them. The business plan should also include a marketing strategy. This is how you will let potential customers know about your company and what services you offer.
Once you have everything in place, you can start marketing your company and looking for customers. You can use various marketing channels such as online advertising, print ads, or even word-of-mouth.
It is important to always provide excellent customer service. This will ensure that your customers are happy and will continue to use your services. If you provide good value for their money, they will also be more likely to refer you to their friends and family.
Building a successful maintenance business takes time and effort. However, if you are organized and have a good business plan, it is definitely achievable. Just make sure to always put your customers first and deliver quality services.
Get the necessary permits and licenses
A property maintenance company requires a business license, as well as any additional permits and licenses that may be required by the state or local municipality. The business owner should check with their state’s Department of Business Regulation to determine what is required. In addition, the company will need insurance coverage for its employees and any vehicles used in the course of business. Finally, the company will need to have a solid business plan in place detailing how it plans to generate revenue and profit. With these key components in place, a property maintenance company can be up and running quickly and efficiently.
Employer identification number
You will need to obtain an Employer Identification Number (EIN) from the IRS in order to hire staff for your company.
You can apply for an EIN online, by mail, or by fax.
Open a business bank account
Opening a business bank account is a key step in starting any business, but it’s especially important for businesses that will be dealing with large amounts of cash, such as maintenance businesses. A business bank account can help you track your expenses and income, which is essential for tax purposes. It can also help you build business credit and establish a relationship with a financial institution that can provide funding for your business in the future. You’ll need to provide your business name, address, contact information, and tax identification number when you open the account. Sole proprietorships and partnerships can use their personal Social Security number as a tax ID.
While choosing a bank account for your own business, you should also decide how you will accept payments. You can use field complete property maintenance software for accepting your payments on site. This will save you time and money as you don’t have to go to the bank to deposit checks.
How to fund your own property maintenance business
You will need some start-up capital to get your property maintenance business off the ground. You can either save up the money yourself or apply for a loan from a bank. The amount of money you will need will depend on the size and scope of your business.
To start a small property maintenance business, you will need around $5,000. This will cover the cost of tools, equipment, and marketing. If you are starting a larger business, you will need more money to cover the costs of hiring staff and renting office space.
Purchasing your first piece of equipment
If you’re starting a maintenance business, there are some key pieces of equipment you’ll need to get started.
First, you’ll need a truck or van to transport your equipment and supplies. You’ll also need ladders, tools, and other equipment necessary for the type of maintenance work you’ll be doing.
Insurance for your property maintenance business
Another important consideration when starting a maintenance business is insurance. You’ll need to make sure you have the right insurance in place to protect your business from any potential risks.
You should speak with an insurance agent to determine the type of coverage you need for your business.
Getting the word out about your property maintenance business
Once you have your equipment and insurance in place, you’ll need to start marketing your business. There are a number of ways to market a property maintenance business, including online and offline methods.
Some offline marketing methods include distributing flyers and door hangers in neighborhoods where you’d like to work. You can also offer discounts or special promotions to attract new customers.
Choose a brand name
Your brand is how your customers will perceive you, so it’s important to choose a name that reflects the image you want to project.
You’ll also need to make sure the name you choose is available as a domain name (for your website) and as a business name with your state’s Secretary of State office.
Make the website
While you can start taking customers without a website, it’s important to have one as soon as possible so you can start building your brand online.
You can create a simple website yourself using a platform like WordPress, or you can hire a web designer to create something more sophisticated.
Hire staff for your property maintenance company
A successful property maintenance business consists of a team of professionals who can provide quality services to customers. When hiring staff , be sure to look for individuals who have experience in the field and who are knowledgeable about the latest trends in maintenance.
It’s also important to find employees who are reliable and trustworthy, as they will be working in people’s homes and businesses.
Perform background checks on all potential employees and make sure to verify references.
It’s also a good idea to have new hires sign a contract that outlines your expectations for their job performance.
Determine how many employees you need
The number of employees you need will depend on the size and scope of your business. A small business may only need two or three employees, while a larger operation may need ten or more.
Be sure to consider how much work you can realistically handle and how much you can afford to pay in wages.
Offer employee benefits
In order to attract and retain good employees, it’s important to offer competitive wages and benefits. Some benefits you may want to offer include health insurance paid vacation, and 401(k) plans.
If you can’t afford to offer all of these benefits, try to at least offer some type of health insurance plan. This will help you attract and retain quality employees.
Develop systems and procedures
In order to run a successful property maintenance business, you’ll need to develop systems and procedures for how things are done. This will help ensure that your employees are providing quality services and that work is being completed in a timely manner.
Some things you’ll need to develop procedures for include scheduling appointments, handling customer inquiries, and performing maintenance tasks.
Get a skilled manager for your projects
A skilled project manager is essential for any size property maintenance business. He or she will be responsible for coordinating the work of the staff, ensuring that projects are completed on time and within budget, and keeping customers updated on the status of their projects. He should also have a strong understanding of how to market the business and generate new leads.
Advertise your vacancies
There are a few key ways to get the word out about your maintenance business and to hire the best staff. Start by advertising your vacancies online and in local newspapers or job boards. You can also post flyers in public places or hand out business cards to people you meet. Make sure to list all of the requirements for the position and what the ideal candidate would be like.
Another great way to find qualified candidates is to ask for referrals from people you know and trust. If someone you know has a background in maintenance or running a business, they may be able to recommend someone who would be perfect for the job. You can also look for candidates through online job postings and websites like Indeed or LinkedIn. Once you’ve found a few candidates, take the time to interview them and see if they’re a good fit for your company.
By taking the time to hire the right staff, you’ll be setting your maintenance business up for success.
Market your business
Starting a maintenance business can be a great way to become your own boss and earn a good income. However, as with any business, there is a lot of work involved in getting started. The first step is to market your business. You will need to create a brand that potential customers can trust and feel confident using. This can be done by creating a strong online presence and developing marketing materials that highlight the benefits of your services.
In addition to marketing, you will also need to develop a business plan. This should include an overview of your business goals, how you intend to achieve them, and what expenses you anticipate incurring along the way. Maintenance businesses require significant start-up costs, so it is important to have a clear understanding of your financial needs before getting started.
Once you have a plan in place, the next step is to find customers. This can be done by networking with other businesses in your industry, or by advertising your services online or in local publications. You may also want to offer discounts or special promotions to attract new customers.
By taking the time to develop a strong business foundation, you will be well on your way to success as a maintenance business owner.
Use local SEO
As a maintenance business, one of the best ways to market your services is through local SEO. This involves optimizing your website and online content for relevant keywords related to your business. For example, if you are a plumbing company in Los Angeles, you would want to optimize your site for keywords such as “plumbing Los Angeles” or “Los Angeles plumbing.” By doing this, you will make it easier for potential customers to find you when they search for these terms online.
In addition to optimizing your website, you should also create profiles on popular directories and review sites. This will give you another platform to promote your business and attract new customers. Be sure to include accurate contact information and customer reviews on these profiles to give potential customers the most accurate picture of your business.
By taking advantage of local SEO, you can significantly increase your chances of success as a maintenance business.
Develop a social media presence
In today’s digital world, it is essential for businesses to have a strong social media presence. This is especially true for maintenance businesses, as potential customers are likely to search for these services online. As such, you should create profiles on popular social media sites and regularly post content that showcases your business. You should also make it easy for customers to contact you by including your contact information on your social media profiles.
In addition to creating a social media presence, you should also consider creating a blog. This can be a great way to share information about your business and attract new customers. Be sure to include keyword-rich content that is relevant to your business, as this will help you attract more visitors from search engines.
By taking advantage of social media and blogging, you can reach a wider audience of potential customers and significantly grow your maintenance business.
Consider using field service management software
There are a number of software programs available that can help you manage your property maintenance business. These programs can be used to schedule appointments, track invoices, and keep track of customer information.
By using field service management software, you can free up your time to focus on other aspects of running your business.
Create a free Field Complete account for on-site estimates, invoicing, dispatching, and payments. Automate your business with GPS-powered scheduling, automatic customer notifications, and online payments.
Get started today and see how Field Complete can help you grow your business!
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How to Start a Property Maintenance Business
If you're a property maintenance expert looking to take the next leap, you might want to start a business of your own. We've put together this detailed guide to walk you through the process from start to finish.
Start a Property Maintenance Business — Checklist Download
Use our free checklist in PDF format as a guide to starting your property maintenance business.
The property maintenance industry is booming. In 2012, the outsourced services sector was worth $143.1 billion. Forecasts at the time suggested that the industry would grow to become a $176.5 billion market in 2017 and that it would exhibit continued expansion until at least 2022.
Residential property maintenance work comprises a significant proportion of income-generating activities within the industry. In 2018, homeowners paid an average of $3,067 per year to have their properties maintained. Expenditure was highest in Portland, OR, and lowest in Fort Lauderdale, FL.
Non-residential property maintenance services are also highly sought after. In 2012, these accounted for 55% of the industry's total revenue. Income generated from residential property maintenance has likely superseded this figure, but nonresidential services continue to drive industry growth.
Considering the demand for property maintenance services, you may be wondering how to get your own business up and running within the industry. If so, read through the steps below to discover how to establish a successful property maintenance business.
Property Maintenance Business Plan — Free Template
Use our free template in Microsoft Word format to generate a property maintenance business plan.
How to Start a Property Maintenance Business:
If you're passionate about property maintenance and looking to turn your trade into a profitable business, you may want to branch out as a solopreneur or even a company with employees. Here's how to do just that.
- Decide whether starting a property maintenance business is for you.
Familiarize yourself with the industry, if needed.
Residential and non-residential properties need a range of upkeep services to function optimally. These include interior and exterior cleaning, groundskeeping, painting, carpentry, locksmith services, drywall repair, as well as HVAC, electrical, and plumbing work, and much more.
Evaluate your training and experience.
Training requirements depend on the types of services you'll offer and whether you'll conduct these yourself. Cleaning and groundskeeping, for example, do not require the completion of formal training. However, you'll need formal training to render HVAC, electrical, and plumbing services.
Those who lack the requisite educational requirements may need to hold off on starting a property maintenance business until they have received formal preparation. Alternatively, it may be possible to delegate these tasks to suitably qualified individuals.
Consider the risks and challenges.
Property maintenance often requires intense physical labor as well as exposure to potentially harmful environmental conditions . Both of these will render you and/or your employees vulnerable to a host of short-term and sustained bodily injuries, or worse.
In addition, you may need to conduct after-hours work . This is particularly important during the initial stages of establishing a property maintenance business; it gives companies a competitive edge. This may even be necessary if the demand for property maintenance shrinks, as was the case during the recession.
If you're willing to face these challenges, then a property management business could be the right fit for you.
- Define the scope of your business.
Think about your interests and expertise.
By now, you should have a good sense of what you're qualified to do and where your passions lie. Use these insights to inform the type(s) of services you'll be offering.
Consider whether you'd like to work alone or in a team.
Perhaps you don't have the skills or capacity needed to perform the range of property maintenance services you'd like to conduct. If this is the case, consider whether you'd be opening to hiring one or more employees.
- Choose a business name.
Consider your offerings.
Foregrounding your services will help convey information about your business, which could attract clients. Start by jotting down all the ideas that spring to mind when you think about your offerings.
Try using synonyms, where possible — particularly if you don't want your business's name to be too on the nose. Online resources such as thesaurus.com can help with this.
If you get stuck, use NameSnack to find thousands of property maintenance business name ideas.
Discard ill-fitting names.
Among other things, your business's name should be easy to spell and pronounce, and congruent with your desired brand identity. Go ahead and weed out any ideas that don't fit these criteria.
See what your target market thinks of the remaining names.
Potential clients should be able to give you a sense of which names are informative and, brandable. They'll also be able to indicate which options are easy to spell and pronounce.
Create and share an online poll via social media to reach potential clients.
If you intend to offer residential property maintenance services, you should consider targeting home improvement groups.
Check trademark availability.
Once you have a sense of which name is a crowd favorite, you should check for existing trademarks . If there are none, consider filing a trademark application of your own.
Secure a domain name.
Visit the website of an ICANN-accredited provider such as Namecheap to check if your preferred domain name is available. If it is, proceed to register it.
- Form your property maintenance business.
Formulate a business plan.
Your business plan should outline the core objectives of your company, as well as measurable steps you will take to achieve these aims. The document will serve as both a roadmap and a tool to hold you accountable to yourself. It could also help you to articulate your ideas to others and to secure financial backing.
Your business plan should contain the following:
- Executive summary.
- Company overview.
- Market analysis.
- Marketing strategy.
- Financial summary.
- Future goals.
We've created a free property maintenance business plan template to help. You'll find it near the start of this page.
Choose a legal structure.
Property maintenance businesses can be structured in various ways. Key options include sole proprietorships, partnerships, corporations, and limited liability corporations (LLCs).
Given the litigious nature of the industry, it may be worth forming an LLC or a corporation. These options ensure limited to no personal liability. Unsurprisingly, many U.S. property maintenance companies have opted for one of these structures.
Obtain an Employer Identification Number (EIN).
Some businesses are not required to have an Employer Identification Number (EIN). However, if you decide to operate as a corporation or partnership, or if you intend to hire employees, then an EIN is mandatory.
Having an EIN is a sign of legitimacy in the industry. It often makes it easier to open a business bank account and to secure financing. You'll also be able to use your EIN in lieu of your Social Security number when conducting business, which could prevent identity theft.
Open a business bank account.
A business bank account will allow you to easily distinguish between personal and professional finances. It'll also be a sign of professionalism when dealing with clients and vendors.
For some, a business bank account is more than just a nice-to-have. The IRS requires that all incorporated businesses have a dedicated business bank account.
Property maintenance businesses are susceptible to a range of risks. These include theft, accusations of negligence, and even accidental bodily harm to others. Thus, many business owners purchase general liability insurance, professional liability insurance, and commercial property insurance, at the very least. State regulations may require you to have workers' compensation coverage, even if you aren't an employer.
Obtain your licenses and permits.
Licensing requirements are contingent upon a number of factors. Typically, these include the region in which you intend to work, as well as the types of property maintenance activities that you will conduct.
View our list of the most salient, state-specific licensing information .
You'll notice that many states offer a minor work exemption — the ability to render services without a license if you don't exceed a specified dollar amount. Remember to inquire about this.
Note that the table doesn't account for local requirements. You should check in with your county clerk's office to obtain information about these.
For more detailed licensing information at the state level, be sure to contact your state's department of business regulation.
- Outline your funding requirements.
Calculate vehicle and related expenses.
Regardless of whether you're a sole proprietor or aiming to employ others, you'll likely need a vehicle to travel between work sites. This might mean using your own vehicle or leasing one, to begin with. Either way, you must be able to cover all associated costs.
Consider location-related costs.
Smaller businesses may be able to use a spare room, garage, or shed to store their supplies. Alternatively, you may wish to lease a warehouse with adequate storage space. While you don't need to sign any agreements just yet, it's important to have an idea of the applicable costs, if any, before attempting to secure funding for your business.
Determine the cost of supplies.
Regardless of which specific property maintenance services you intend to offer, you'll need a range of tools and equipment. We've rounded up some of the common ones for you.
Consider the nature of your work, as well as the guidelines prescribed by the Occupational Safety and Health Administration (OSHA) , when deciding what you'll need.
- Obtain funding.
- Ask family and friends.
Having formed your business and outlined your finding requirements, you'll need to get some cash. Consider asking loved ones, who might be personally invested in your success and thus, willing to back you financially. Loans from family and friends often present flexible payment terms as well as little to no interest.
- Try crowdfunding.
You'll be able to reach many potential investors by harnessing your friends' and family's networks.
Perhaps offer free maintenance services to donors who make sizable contributions to your campaign.
- Search for angel investors.
In addition to financing, they'll be able to offer you guidance on establishing a successful business within the industry. Though this avenue presents an opportunity for flexible terms, you may need to relinquish some control of your business.
Apply for a loan.
Small Business Administration (SBA) loans are federally-backed lending options that include longer repayment periods, capped interest rates, and smaller down payments. However, they can be difficult to qualify for.
Another option is to apply for a conventional bank loan , which should be processed fairly quickly. Note, however, that the repayment terms tend to be shorter and you'll likely need to provide collateral.
- Use a business credit card.
Business credit cards are fairly easy to obtain, and many providers offer a 0% annual percentage rate (APR) plus no annual fees during the first year. However, business credit cards can turn out to be costly in the long haul.
- Select and set up your location.
Find the perfect location.
At this point, you'll have decided whether to establish a base station at home or if you'd prefer to lease a warehouse. If you choose to do the latter, consider enlisting the services of a real estate agent. Ultimately, your chosen space should have ample storage for your equipment and supplies, as well as sufficient parking space (for yourself and your employees, if applicable).
Purchase your equipment and tools.
Having obtained funding, you can go ahead and purchase the supplies you'll need to get started.
You don't have to purchase the most expensive supplies, but be sure to weigh the initial cost of each item against its projected lifespan when deciding what to buy.
Search for bundled deals, particularly for power tools and common supplies (screws, nuts, bolts, etc.).
Be sure to review shipping-related restrictions when shopping online. Items such as hacksaws may not be eligible for delivery.
Clients who require specialized materials may be billed separately for these. However, you should discuss payment-related expectations before commencing each project.
Observe all pertinent storage regulations.
The OSHA has promulgated many regulations that apply to the stowing of certain maintenance and construction-related supplies. These are outlined in 29 CFR Part 1910 and in 29 CFR Part 1926 . Be sure to review them along with local guidelines to ascertain how they may dictate the layout of your space.
Remain guided by safety considerations.
You should always be mindful of safety, even in the absence of industry-specific regulations. For example, even non-hazardous materials should be stored in a manner that prevents toppling, rolling, and the obstruction of spaces where people may walk. If you intend to store your supplies at home, be sure that the garage, shed, or room from which you work remains locked when it isn't in use.
Keep your space well-organized.
Supplies should be stored intuitively from the outset. Consider creating labels and maintaining an updated inventory management system to promote easy access to your gear. Not only will this spare time, but you'll have a good idea of when to replenish your items.
- Hire staff, if needed.
Determine how many employees you need.
Having thought about the services you'd like to offer, you should have a good idea of how many staff members you'll need, and the functions they ought to perform.
Revisit your business plan if you need a refresher, but don't feel pressured to stay bound to your initial intentions. It's completely normal for these to change over time.
Advertise your vacancies.
You'll want to attract as many suitably qualified candidates as possible to ensure that you find the best fit for each position.
Consider posting your advert(s) on free job boards and across all of your social media platforms.
It could be useful to use an applicant tracking system if you end up receiving a large volume of interest.
Review candidates' resumes.
Once applications have closed, you'll need to review candidates' resumes and other supporting documentation to narrow your pool of applicants.
Many applicant tracking systems include a resume parsing tool that can help you do just this. Go ahead and use it if you're dealing with a large group of candidates.
Remember to ensure that shortlisted candidates comply with the requisite state and local licensing requirements.
Having identified the top candidates, you can go ahead and arrange interview times with each of them.
Appoint the best candidate(s).
Once you've worked through each of the applicants' resumes and met with them, you should have sufficient information to extend job offers.
- Market your business.
Create and display your logo strategically.
In most instances, your logo will be the first point of contact between your business and prospective clients. Kick-off your marketing process by creating a visually interesting logo that encapsulates the purpose of your business. It should be displayed on all marketing materials including bumper stickers, uniforms, leaflets, etc.
If you need a hand, consider writing down (and possibly even sketching) your initial ideas and then taking these to a professional.
Create some leaflets.
Be sure to note the range of services that you offer, as well as important contact details. You could also include a few before and after photos of your best work.
Distribute your leaflets.
Be sure to focus on the neighborhood in which you'll be working. With permission, you could also leave these at local hardware and furniture stores.
- Build and maintain an updated website.
At this point, you should create a website that contains detailed information about your offerings. Also include contact information, as well as links to your social media accounts. As work comes in, you'll be able to include a photo gallery of completed projects.
Harness social media.
Both Facebook and Instagram are great platforms for sharing visual content, which you'll want to do. These also offer opportunities for direct engagement with prospective and existing clients.
Remember to include a link to your business's website wherever possible.
Forge strategic partnerships.
Perhaps your neighborhood supermarket or restaurant is in need of maintenance. Consider offering your services in exchange for advertising.
Use local SEO.
In 2018, 46% of searches were said to have "local intent." That is, searches were made with the aim of yielding location-specific information. In your case, clients are going to want to know about nearby property maintenance businesses — and you'll want to pop up in their search results.
Start by registering for Google My Business.
Next, create a Yelp Business Page.
Urge clients to post reviews of your work.
Continue to study and implement other techniques.
It might help to enlist the services of an experienced professional.
Take stock of your supplies.
Before you start tackling projects, you'll want to make sure that you've purchased everything you need. Property maintenance software can help you do just this.
If your preferred solution lacks the appropriate features, perhaps opt for dedicated inventory management software. There are free and paid options.
Prepare your schedule.
As maintenance requests roll in, you'll want to keep track of these.
Be sure to do the same for your employees, if applicable.
Try using scheduling software if a standard, online calendar doesn't suffice.
Shop for job-specific supplies.
Highly specific projects might require specialized supplies. Be sure to purchase these in anticipation of upcoming projects once they've been scheduled.
Review directions to worksites ahead of time.
This is something you'll want to do as a matter of course, particularly when you aren't familiar with the area you'll be working in. However, it's especially important when you're starting out and wanting to form a great reputation for your business.
Gather all the pertinent tools before seeing your first clients.
Finally, you'll want to round up all the supplies you'll need for your first week of operations. This should help avoid a last-minute scramble while also ensuring that you don't forget important supplies.
Tips from Property Maintenance Business Owners:
State-specific licensing information:.
Note that those who hold a particular license in one state may be eligible for the equivalent license in another state without having to pass an examination. This is called licensure by reciprocity. Be sure to inquire about existing reciprocity agreements if you hold a license that was not awarded by the state in which you intend to work.
As highlighted, the aforementioned table does not present an exhaustive account of state-level licensing requirements. Moreover, it does not account for local regulations. To learn more about all the applicable licensing and permitting requirements, be sure to contact your state's department of business regulation, as well as your county clerk's office. For peace of mind, you may even want to consult an attorney.
Common Supplies for Property Maintenance:
Property Maintenance Logos
What is a property maintenance company?
Property maintenance companies work to preserve and improve the condition of residential and/or non-residential premises, including buildings and the grounds on which they are situated. Some companies cover all aspects of property maintenance , while others specialize in one or more services.
How do I start my own property maintenance business?
- Get ready to open.
What does property maintenance include?
- Interior and exterior cleaning.
- Locksmith services.
- Drywall repair.
- Window replacement.
- Roof repair.
- Concrete patching.
- Pest control.
- HVAC services.
- Electrical work.
- Plumbing activities.
How much does it cost to start a property maintenance business?
Startup costs depend on factors like equipment and licensing needs, as well as business formation, banking, and insurance requirements. Some suggest that handymen can start a one-person business for $1,000 or less. However, many will likely pay between $2,000 and $4,000. Those who lease commercial premises and vehicles, and who hire staff, need significantly more funding; likely $15,000 or more.
How much do property maintenance companies make per year?
It depends on the type of business. Self-employed handymen, for example, tend to earn between $16.34 and $58.72 per hour , which roughly equates to between $34,00 and $123,00 per year. Businesses that offer more specialized services, and those who hire employees, likely have a much greater earning potential.
How can I fund my property maintenance business?
- Apply for an SBA loan.
- Apply for a conventional bank loan.
How can I market my property maintenance business?
- Design a logo and display it prominently on promotional materials.
- Create and disseminate leaflets.
- Harness social media platforms like Facebook and Instagram.
- Offer your services to established companies in exchange for free advertising.
- Register for Google My Business and Yelp.
- Ask clients to post reviews of your services once you get started.
How to start a property management company, how to start a real estate business, most profitable small businesses, how to start a publishing company, how to start a consulting business.
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Handyman Business Plan Sample
Handyman business plan for starting your own business
Apartment renters and homeowners often need professionals for small maintenance tasks like installing curtains and shelves, pre-fabricated furniture installation, hanging artwork, changing lighting fixtures, AC repair, plumbing, and so on. It is not easy to find qualified experts who can provide such handyman services. If you are interested in starting a handyman business and offering the above services, you should come up with a well-analyzed and written business plan for handyman to seek financing from investors and banks.
Handyman Next Door is a professional and licensed handyman repair company established with a well-positioned and maintained office space in LA, California. We are the professional handyman service providers who are aimed to compete in this highly competitive market in our home market Los Angeles and across the US.
Management of Handyman Service
If you are wondering how to start a handyman business , consider adding professional team to your business. Our professional team will include a talented pool of highly experienced and certified tradesmen and technicians with skills in different trades in and across Los Angeles and other parts of the US.
All our team members will be selected with proper trainings and they will be hired to meet the needs of our company and will lead us to stand out as the leading handyman service providers and we will be engaged in maintenance, installation and repair throughout the country.
Customers of Handyman Service
The sample handyman business plan includes the general repair and maintenance services for commercial and residential clients, such as electrical repairs, plumbing, AC repair and installation, carpentry, painting, etc.
At Handyman Next Door, we are aimed to come out as one of the top handyman service providers in the US and we will ensure doing everything possible to compete with industry leaders.
Maintenance tasks like AC repair and installation, furniture repair, electrical works, plumbing, etc. have high demands among residential customers all the year round. In this part of handyman business plan examples , explain that you have professionally trained handymen and professionals who are bonded and trained by your company. Also describe how you are networked with third-party vendors like plumbers, electricians, computer techs and others.
When writing a business plan for handyman service , you need to describe who the owner of the company is.
Handyman Next Door has been owned and formed by Cal Wardin. He will be the sole owner of the company with a vast team of professionals. The company is going to incur some start-up costs and basic tools detailed below.
Why the handyman business is being started?
Handyman Next Door is a startup aimed to offer complete handyman service to the residents of Los Angeles and California. Cal Wardin was also engaged in offering such types of services with other organization. With vast and proven knowledge and experience, Cal is aimed to launch his family business as a reasonably priced, trusted, and qualified service provider. If you are wondering how to start a successful handyman business , having a strong base of repeat customers and generating market penetration are the keys.
How the handyman business will be started?
Handyman Next Door is going to build a solid web presence as part of our handyman marketing ideas . The following table includes detailed start-up summary along with needed capital to start operations. Cal is going to start with his own tools for jobs, but he will also need to acquire the following tools and equipments –
- Plumbing tools like snakes, slip wrenches, Teflon tape, nuts, caps, and bolts.
- Electrical tools like wire cutters, gauge meters, several wires, soldering iron, and wire caps.
- Painting materials like paint rollers, paint brushes, air compressor, pneumatic paint sprayer, spackle tools, sand papers, and masking tape.
- Some general tools.
- Pressure washer.
- Power tools like sander, drill, saw, etc.
- Laptop with portable printer for printing invoice
Services for Customers
In order to run a successful handyman business , we are aimed to compete well with top handyman service providers and maintenance, installation and repair companies in the country.
We have put an excellent quality assurance team in place to ensure every installation, repair, and service is provided well to meet and exceed customers’ needs. We will strive hard to ensure Handyman Next Door will not just be renowned in Los Angeles, but also across the US. Here are the following services we have included in our handyman business plan template –
- Drywall installation/repair
- Plumbing repair
- Electrical installations
- Rooting repairs
- Appliance installation and repair
- Flooring installation and repair
- Kitchen remodeling
- Attic insulation
- Bathroom and shower remodeling
- Deck repair
- Fence repair
- Door installations
- Gardening and building service
- Power tool and yard repair and maintenance
- Exterior and interior painting
- Other installation, repair and maintenance services
Marketing Analysis of Handyman Business
If you want to know how to start a renovation company , be sure to analyze the market segment and trends related to it. For example, Handyman Next Door will focus on both online and offline advertising. We will use direct mail campaigns and email marketing to notify all the tenants and homeowners living in our target areas. We will distribute our pamphlets in local newspapers across the major geographic regions of the city. We will also use other marketing techniques, such as posting flyers, online ads, and ads on radio or cable TV in future.
Before opening a handyman business , you need to start doing proper economic analysis to reduce the threats and risks associated with investing in handyman business ideas or starting a business.
When it comes to how to market a handyman business , it is not all about acquiring a well-furnished office space and getting the place equipped. You also need to figure out how to attract customers and how to retain them so they can keep coming back for your services.
Basically, running and starting a handyman service is cost effective, especially when you have well-qualified, well trained and experienced team members. With the quality of work conducted for your customers, you can easily retain your customers and your company should do all the good work which will be spread by words of mouth. Customers will definitely want to recommend your services to their friends and families once you can get the job done well on their properties.
Your ability to provide quality services at competitive prices to the customers will be a major factor considered in the industry. This way, it will be easier for you to retain customers and attract new ones to get more business. The handyman market seems to be viable considering the existing competition in the industry.
There are basically two different customer groups to segment the market –
- Value of their homes generally range from $150,000 to $650,000
- Around 47% home owners prefer DIY small repairs. They often start the repair themselves and then realize that it’s not their cup of tea. Rests of 53% don’t even start to repair it on their own. They simply call a professional for every small repair.
- Around 62% of homeowners have been the owners for over 2 years.
- Rests of 73% of customers wait until a lot of small problems come ahead before calling a handyman. The reason is simple. They don’t want to bear a huge upfront cost just for small fixes.
- These types of customers usually manage 3 to 20 household units.
- They usually don’t have their in-house team for repair and maintenance to cut down on overhead costs.
- Their monthly rental ranges from $350 to $650.
We conducted a feasibility study and market survey before starting our handyman services in Los Angeles. Hence, we understand that there is a huge range of individual and corporate clients who need handyman services on daily basis. With that in mind, we have come up with certain strategies which would help us to reach out to several households and corporate organizations we know that they would need our services. Here are some of the individuals and organizations who we can target –
- Blue chip companies
- Insurance companies, banks, and other financial institutions
- Corporate clients
- Real estate developers, owners, and contractors
- Government organizations
- High schools, universities, colleges and other educational institutions
- Sports facilities
- Households and individuals
- Religious organizations
Customers usually prefer who they know. They either call a contractor or handyman they know or they ask their neighbors or friends for recommendation. They often stay with their service provider until they get dissatisfied with their service. Cal is planning to dominate the market with words of mouth referrals which is done usually by exceeding the expectations of every customer.
Considering the economies, larger contracting companies are expected to offer better rates on hourly basis. But most of the large companies offer different specialized services, which need a lot of skilled workers and tools, which also increase their overhead and billable rates.
Highly Efficient Service
I am incredibly happy with the outcome! Alex and his team are highly efficient professionals with a diverse bank of knowledge!
Our website will serve our customers as a basic catalog of services. We would list different skills our team has, and a range of referrals and testimonials on our site. It will be effective to help unsure visitors who haven’t heard about Handyman Next Door.
In order to attract traffic, Search Engine Optimization would be the cost-effective way to organically grow our web business. We can help people who are looking for a nearby handyman. It will also include searches of people who know about our organization but want to know more.
Our competitive edge is offering best services at reasonable prices. So, our target customers would be more inclined to call Handyman Next Door whenever any problem occurs.
Our sales business strategy would be planned well to convert customers looking for temporary services to the ones choosing Handyman Next Door for different repairs. We would do the same in different ways. We will put a level of professionalism in each repair job. We will also focus on problem areas in home and provide the best solutions.
This section of handyman maintenance business plan includes average monthly sales done by Handyman Next Door –
This section of our handyman services business plan includes average annual sales done by Handyman Next Door –
We have developed a sales forecast in a complete way to help us achieve our sales goals. The following table details the breakdown of sales on the basis of our activities –
When it comes to start a handyman business , you would need experienced team including senior management staff with experience of over 5 years and competent and qualified experts on the following positions –
- Head, Technical Services
- Sales and Marketing Executive
- HR and Admin Manager
- Client Service Executive
- Handymen (with varied skill sets related to your business)
Average Salary of Employees
The following table describes the average annual salary of each employee and total payroll for the next 3 years –
Include the following sections on your handyman business plan sample –
All the vital financial assumptions for the next three years are listed here in this table –
The following graph indicates what our company will need and project in monthly revenue to cross the breakeven point –
Projected Profit and Loss
The tables and charts listed below indicate the project profit and loss of our company –
It includes the projected profit per month from our services.
It describes the annual profit for the next three years.
Gross Margin Monthly
It describes the gross margin on monthly basis for the next one year.
Gross Margin Yearly
It includes the gross margin we are expecting for the next three years.
Projected Cash Flow
Projected Balance Sheet
The following table includes all the assets and liabilities in our projected balance sheet –
In this table, we are going to explain the business ratios of Handyman Next Door along with industry ratios for household and personal repairs and maintenance.
Download handyman business plan sample in PDF
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Home Maintenance and Repair
Startup Costs: Under $2,000 Home Based: Can be operated from home. Franchises Available? Yes Online Operation? Yes
If you're the type who can (and likes to) do just about anything around the house--mend a leaky faucet, nail down those sagging shingles, paint a wall, unstick a sticking door, repair a broken cabinet or build a garbage can enclosure, then this might be just the business for you. You'll be on-call in your neighborhood for all those jobs that aren't quite big enough to hire an expensive contractor but are beyond the homeowner's expertise or time constraints. This is a business with room for growth: According to the U.S. Census Bureau, Americans spent nearly $43 million on home maintenance and repairs in a single recent year. The advantages to this business are that you can work from home, you can start on a shoestring, you're always doing something different, and it's gratifying. People are delighted when you can save them money by doing the job yourself and appreciative of skills that they don't possess. You'll need a variety of home-repairs skills--everything from minor plumbing to minor electrical to painting and carpentry. You'll want people skills because you'll be dealing with a variety of personalities on their home turf, and a good sense of logistics to help you determine which jobs to schedule in what order.
Your customers will be mostly homeowners, but you can also target owners or managers of small apartment buildings or condominium complexes who don't have a maintenance person on staff, and small shopkeepers and real estate agents who may need help with a vacant property. Deliver fliers detailing your services to potential customers by tucking them under doormats or making them into door hangers. (Don't place them in mailboxes--the U.S. Postal Service gets very upset about this.) Place ads in your local newspaper and in your neighborhood Yellow Pages. For small-business commercial customers, hand-deliver fliers or brochures and explain your services. You may not get any takers the first time you visit, but don't get discouraged. A repeat visit or two can often seal a deal.
In some states, you'll need a contractor's license, so be sure to check with your local contractor's board or commerce department before you start. You'll want to be bonded. And you'll need the handyperson's stock-in-trade: hammers, screwdrivers, pliers, wrenches, grip vises, flashlights, a cordless saw, a stepstool and ladder, and paint brushes and rollers. You should also have a pager so customers can reach you during the day and a pickup truck for making house calls.
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How to Write a Business Plan for a Service Business
10 min. read
Updated November 13, 2023
Free Download: Sample Administrative Services Business Plan Templates
If you’re starting a business that sells a service, writing a business plan is one of the first steps you need to take. Whether you are starting a consulting business, a car repair shop, or a construction firm, a business plan will help you figure out your strategy, develop your marketing plan and figure out the all-important financial forecasts so that you can be successful.
Writing a business plan can seem complicated at first. There are multiple topics you have to cover and you want to impress your readers with a complete plan. Whether it’s a loan officer reading your business plan or a potential business partner, you need to make sure you get your plan right.
That’s why we put this guide together. Business planning doesn’t have to be intimidating and we’ll guide you through the process of pulling everything together for your new service business.
- What is a service business?
A service business typically focuses on selling services to customers instead of products. For example, a consultant or lawyer typically sells their time and expertise to customers. A repair business typically is selling the service of fixing broken equipment and appliances. Event planners are selling the service of planning and managing events such as weddings and corporate retreats.
Service businesses don’t just have to sell services. Many service businesses sell a mix of products and services. Take a car repair shop, for example. They’ll sell the service of repairing your car in addition to the parts required to get your car serviced. Even though the repair shop sells parts, it’s different from an auto parts store that only sells parts and doesn’t sell any repair services.
- Why you should write a business plan for a service business
It’s tempting to just dive right in and start building your business. A business plan can seem like a waste of time and it’s certainly more fun to start working on things like logos, business cards, and finding office space. But, it’s important to remember that a business plan is a vital step in the process that will prevent you from wasting precious time and money as you get your business up and running.
Taking a little time to plan now can save you from making critical mistakes and prevent you from wasting thousands of dollars. Even though it may not be as “fun”, it’s worth every minute. Here’s why you’ll want to plan:
1. Clearly define your offering
Although you may have a good idea in your head for the services you’ll be offering, it’s important to write down exactly what you plan to offer to your customers and what you plan to charge. Especially for service businesses where you may be selling your time, it can be tempting to take on any job. That can lead to distractions and lead you away from your core business. You also want to ensure that business partners are on the same page as you and that you agree on the services you are providing, what you’re going to charge, and how you are going to deliver those services.
2. Create a marketing plan
A clear marketing plan is crucial for getting your service business up and running. You’ll need to know not only how you plan on landing your first customers, but also your hundredth customer. Taking the time to describe your ideal customer and craft a marketing plan to reach them in a smart and cost-effective way is the key to a business that can grow efficiently over time.
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3. Know your numbers
Before you start any business, understanding what it’s going to take to make money is a crucial first step. As you create a sales forecast and expense budget, you’ll be able to see what it will take to become profitable. Understanding how much it’s going to cost to start your business is also a critical number to know. For some service businesses, startup costs can be high. Looking back at our car repair service business example, startup costs may be significant. This business will need to purchase a workspace, tools, and other equipment before it can offer any services. In contrast, a consulting business may not have many startup costs. You may be able to simply work from home and offer your services online , avoiding the need for any physical overhead costs. Regardless of whether your startup costs are low or high, understanding what level of sales you’ll need to make money is something a business plan will tell you.
4. Build your business strategy
A business plan helps you outline your business strategy . Knowing your strategy before you start helps you focus on building your business the right way from the beginning. Figuring out your strategy while you’re trying to build your business is somewhat like building an airplane while you’re headed down the runway. It’s potentially possible but very difficult to do.
Your business plan will force you to think through and answer the questions you need to answer to have a successful business.
- How is a business plan for a service business different from a product business plan?
Although business plans for service businesses are fairly similar to plans for product businesses, there are a few key differences.
Often, service businesses have fairly low cost of goods sold . This is how much it costs you in parts, products, or other tangible items to make a sale. Most service businesses have low costs to deliver the service and therefore have fairly high-profit margins. Software-as-a-service businesses are a perfect example of this because the incremental cost of a new customer is so low.
Service businesses often have little or no inventory as they are focused on selling their service, not a product. That said, this isn’t always the case. Any kind of repair service usually has to have replacement parts on hand. But, lawyers and accountants almost never have any kind of physical inventory.
For some service businesses, overhead expenses can also be very low. Many service businesses don’t need storefronts, warehouses, or other expensive real estate.
- What you should include in your business plan
A good business plan includes six key chapters. Following this business plan outline will ensure that you have a complete and effective business plan.
1. Executive Summary
Every business plan should have a short executive summary . Your executive summary is an overview of your entire business and a preview of the rest of your plan. Ideally, your executive summary can be used as a stand-alone document that you can use to introduce your business to investors who don’t have the time to read a complete business plan. Your executive summary should describe the services that you are offering, who your target market is, and provide a snapshot of your sales goals and profit projections for the coming year. If you’re raising money to launch your business, be sure to include how much money you need to get the business launched. Write your executive summary last, after you’ve written the rest of your plan. Because it’s just a brief summary – two or three pages at most – writing it last will ensure that you cover all the key points in the rest of your plan.
2. Problem and Solution
The first major chapter of your business plan will cover the problem that you solve for your clients and describe the services that you provide. If you’re starting a landscaping service, the problem you’re solving is your customers’ desire for a well maintained, beautiful lawn and garden when they don’t have the time to do it themselves. A headhunting firm helps businesses find and recruit new employees without having to have a large HR department. When you describe the services you provide, make sure to describe your pricing and how you stack up against the competition. What makes your services better than other businesses that provide similar services? What sets you apart?
3. Target Market
The target market chapter of your business plan focuses on the customers that you are selling to. A good business plan describes your business’s ideal customer very specifically. No business sells to “everyone”. Instead, good businesses know the type of customer that they are after and where to find them. For example, a financial planning service business might target millennials that work in technology companies who like to communicate mostly online. When you describe your target market, make sure to indicate how large the market is . You’ll want to make sure that there are enough potential customers for your services out there so that you can grow your business.
4. Marketing and Sales
Once you’ve defined the problem you are solving for people, how you solve that problem for them and described exactly who your customer is, you’ll have a great platform for creating a marketing and sales plan . With your target market information, you should know where and how to reach your ideal customer so that you can come up with a marketing plan to reach them. If your business is local, focusing on local advertising and social media groups might be a good idea. If your services are expensive, you’ll also want to describe your sales plan since customers most likely won’t just sign up for your services immediately after hearing about you. You’ll most likely need to deliver information about your services, create bids, and have a follow-up strategy for closing deals. Use this chapter of your business plan to create your marketing and sales roadmap so that you can start executing on your marketing plan when your business is up and running and have sales processes in place so you make sure that you maximize your marketing efforts.
5. Company & Team
Your idea is surprisingly not the most important part of your business. It’s actually the people that build the business and run it that are the most important. Even the best idea that’s poorly executed is likely to fail, so it’s critical that you assemble the right people to make your business a success. In this chapter of your business plan, describe who is behind the business and why this team is the right team to build it. Investors often focus more on the team than the idea because they assume that a smart and motivated team will adjust and refine an idea to make it successful, even if the first iteration isn’t perfect.
6. Financial Plan
Finally, your business plan needs a financial plan . This plan should include:
- Sales forecast
- Profit and Loss
- Cash Flow Forecast
- Balance Sheet
If you’re starting a subscription service, include a forecast for subscriptions, renewals, and cancellations — otherwise known as “churn”. Your Profit and Loss statement will show your sales and expenses so that you can calculate your predicted profits. The Cash Flow Forecast will predict how cash moves in and out of your business and will help you identify potential cash flow problems that may occur in the future. The Balance Sheet will detail the assets and liabilities that your business is predicted to have over time.
- Free business plan examples & templates
It might be helpful to explore how other service-based businesses have written their business plans. Check out our free library of sample plans and templates for service businesses . You can download any of these documents in Word form and get some structure for your own plan.
See why 1.2 million entrepreneurs have written their business plans with LivePlan
Noah is currently the COO at Palo Alto Software, makers of the online business plan app LivePlan.
Table of Contents
5 Min. Read
How to Write a Growth-Oriented Business Plan
3 Min. Read
How to Write an Effective Marketing Plan
16 Min. Read
How to Write a Mission Statement + 10 Great Examples
How to Use TAM, SAM, SOM to Determine Market Size
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Start A Home Maintenance And Repair Business - Business Ideas
Please note that the data provided in this article are estimates and may vary depending on various factors, and should not be considered as perfect or definitive.
Are you looking for a business opportunity within the home maintenance and improvement industry? A home repair and maintenance business is a low barrier to entry, hence a great way to get your feet wet as an entrepreneur.
If you are handy and possess most of the skills required or at least basic skills to start home improvement, you can earn profits from the home improvement business.
To start, choose the customer base that needs home improvement and repair services. For example, you may focus on house flippers or choose 50+ women living alone. Then, set up your shop and market the business to your target audience.
Ensure high-level customer care and focus on delivering to customers’ requirements.
Starting a home maintenance and repair business requires a great deal of effort, dedication, and most importantly passion .
If you're interested in how to sell home maintenance and repair services, or selling home maintenance and repair services online, you can use this page as a guide for everything you'll need to know.
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Home Improvement And Repair Services Business Plan
People in the home renovation business can use this free, printable business plan to break into the custom renovation housing sector and draw in more clients for safe and affordable buildings.
Sample text from Home Improvement And Repair Services Business Plan:
1.0 Executive Summary
In addition to diligently following this Business Plan to maintain the safeguards for successful business operations and achieve the financial projections herein, the current financial plan of [Company Name] includes obtaining a capital injection through one of many financing programs in the amount of $311,000. The Company hopes to secure the requested funds sometime in the second or third quarter of 2011. It will use the funding to purchase long-term assets, expand the business, and hire employees. The Company's revenue is projected to increase during the next three years, from $125,118 to $226,776, while its monthly break-even stands at $6,912.
[Company Name] has three main objectives:
1. To provide quality housing for the handicapped, elderly, and poor.
2. To provide good jobs for several quality employees as well as provide excellent training to improve employee's ability.
3. To rebuild a derelict house into a loving home.
[Company Name]'s mission is to provide safe and affordable housing customized for each and every customer without regard to income, race, or disability. The Company thrives on making once derelict properties into newly renovated homes for those who need them.
1.3 Keys to Success
[Company Name]'s philosophy is that "no job is too small or too large". The Company will gladly do any job as small as installing a door stop or switch plate, or as large as the customer may need. With the Company's experience and training, it can resolve any issue that needs to be resolved. Additionally, [Company Name]'s prices are lower than its competition, the quality of its materials is much higher, and its workmanship is always above code.
2.0 Company Summary
Company: [Company Name]
[City, State ZIP]
Email: [Email Address]
[Company Name] is a multi-faceted company formed in 1979 (listed on [ADDRESS]). The Company began as a basic home repair business. Over the past 32 years, [Company Name] has also moved into the home renovations arena by purchasing abandoned properties and converting these properties into affordable housing for families. [Company Name] operates as a sole proprietorship and presently includes advanced services including; architectural design, structural design, disaster recovery, property management, plumbing, carpeting, electrical, and mold and mildew restoration.
With the demand for affordable rental housing increasing in the present economy, [Company Name] is intent on expanding the home renovation portion of its business. Specifically, [Company Name] is planning on purchasing vacant, structurally sound, plumb, level and square properties that will be renovated for low-income and special needs families including; the poor, handicapped, and the elderly. Along with this undertaking, [Company Name] desires to hire and train additional employees as the Company grows in the renovation portion of its business.
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