Jeff you make me laugh because every few minutes you explain things, then you take a deep breath! I been in business now for 45 years. I hear you loud and clear. I have a grade 8 education. I am self taught entrepreneur. Professional painter/expert and landscaper. Author of a painting book. Inventor of the Gooseneck paint brush. Just graduated at 62 years old, College Diplomat Small Business Consultant. You need to Set goals. Best tip! Hire a Business consultant in the trades. Cheers!
I started my business just because people asked what I did. I worked for a GC for years before I started doing side jobs. As soon as I started, I was swamped. Word of mouth, and doing quality work.
I work for a home remodeling company. About half of the homes that I do work in ask if I do work on the side. I always tell them they just need to get the approval from my employer to make sure none of the side work doesn't interfere with previous projects/future projects. I get tons of odd jobs on off hours and can charge double what I get paid at my employer. Everyone says it's impossible to find trustworthy and reliable people. Trust me. Just from word of mouth you'll easily find plenty of side work.
Jeff I'm down here in North Texas and worked apartment maintiance years ago. After watching all your videos, i started up my handy man side business for income supplement. Thank you for helping me be more willing to invest in my hands. Great stuff! Mike, Texas
Thank you, Jeff. I recently left the carpenter's union and got my own contractor's license as a handyman. However, I had to do the GC license in my state so I could sub out electric and plumbing. In my state, you have to be certified in electrical and plumbing just to "look" at those things! I love what I do, but starting out, I am not making much money. My biggest expenses are insurance/bonding and every tax imaginable!
@Home RenoVision DIY Washington State. My insurance/ bond is around $2k a year. There is a tax just for being a small business owner, I have to charge a sales tax, or bid a nice even number, and eat the tax, my book keeper has to charge me a tax, I have to see him quarterly, as an LLC, I now have a federal tax ID number in order to have a bank account registered to my LLC, even though I do not have employees, and materials these days are at inflated prices, although at least lumber and plywood are down in price. I at least have a contractors account with a local lumber yard, and recently, the Home Depot. I tend to underestimate the amount of time it will take to finish larger jobs. Truthfully, I learned more in my apprenticeship classes than I did in the field... and I was doing a lot of that stuff already before I got into my apprenticeship. Being on the road for 5 hours a day to get to and from work and being forced to pay dues that went towards political candidates, I could never support bc of my religious beliefs for a pension that could be dipped into and lost at any time by our union trusts, and our National General President, I had no real say in anything, and I was in a higher tax bracket when making those "union wages". It came time for me to take a chance on myself. I am 2 years in so far, and I never have to drive to Seattle ever again!
Your channels is amazing! My husband and I watched your video on ripping out a tub and installing a shower and we did that successfully for my aging father! I'm going to start a side hustle painting and stenciling....you've inspired me...great advice on business...and I'm tired of being a nail all the time...I wanna be the hammer
Jeff, I absolutely loved this Q&A Session with you and I learned a bunch. I love in the beautiful State of Washington, and I think that I will get off my derriere and start my Handyman business! Cheers and Well done, Jeff!
I agree , it's very difficult to find honest people that actually can do good work. But it's also amazing how many people want to pay next to nothing for workers. They try to negotiate with you. But would not negotiate with the dentist/doctor / or accountants lol. I have heard good things about jobber
Your tax construct is overstated in the US. You cannot write off 100% of household expenses unless you are able to prove to the IRS that you use your home 100% for that business. If you are able to carve out a space in your home that is used 100% for the business, it can be deducted from taxable income.
@@HomeRenoVisionDIY it is a complex topic for sure and your vid was a high level overview about getting into business. Not tax law tutorial. People who have the inclination to be in business should do it. And they should seek the advice of a CPA who is experienced in small business accounting and tax work. As an aside, I am not that person. My wife was in the horse business for 30 years and we have a lot of experience, including two full compliance IRS audits covering three years each. Lessons learned: 1) keep your business records organized so that you are prepared to prove your business expenses. This is easier with currently available software and apps. 2) If you are audited by the IRS, send a CPA to interact with your examiner. Lots of reasons for this. But bottom line is that it is a negotiation. The auditor has to find something wrong to write up. That’s for their career advancement. 3) Use your CPA’s guidance on the ‘home office deduction’. Your odds of being audited go up if you overplay your hand on this and you could end up owing IRS money, interest and penalties.
To the guy with the concrete with PVC pipe in his yard. That may be where someone had a flag pole or bird house. They would just stick the pole into the PVC pipe, and that with the concrete would hold it straight up. Then they could take it down for the winter. My grandfather had one for his birdhouse when I was a small child. Except that was a lead pipe.
Great Video Jeff, I’m a retired NYC Union tradesman (Tinknocker). But there was still too much month at the end of the money. So with no business skills at all a 9th grade education, I started a Handyman business, and it’s taking off, not 1k a day, but many weeks I make more than in the Union, no dues, no commute, no boss (except the wife) my only regret was that I didn’t do it sooner. Thanks again for all of your awesome content.
@@mattabeln Not much at all, honestly I made virtual business cards texted it to all of my friends and I've been growing from there. It's been a year and I work every day for almost a year now.
Small rectangle of concrete in the backyard with PVC pipe uncovered in the middle, I'm guessing for one of those like big square multi-layer clothesline drying things 🙂
And as a SBO you’re willing to pay time and a half for the additional 40 hours/week? When that $50/hr position hits ot at $75/hr and you realize you could be paying for another 1.5 employees (maybe even ones who haven’t already worked a full 40 hours in a week) why wouldn’t you just hire more people? Most employers do everything they can to screw their employees out of overtime with “salaried positions” and other bullshit employment tactics. It’s called wage theft, and is so prevalent it’s not even funny.
you are looking at the wrong culprit. If Gov't changed the law then employers would be happy to have staff work longer hours. It is the Law that needs to change...especially when everyone is looking to hire.
@Nathan Filz Well Nathan, you kind of missed the point. My OT hours are "free". I can't afford to hire more people, I'd have to raise prices to afford extra labor and then couldn't be competitive with other businesses. The economy has a lot to do with that. Also when budget is tight, people prioritize and buy only what they need most.
@@Nhfilz I think they mean is to BE a small business owner you work 80hours a week. Not that they’re trying to hire people to work that much. And to add to what you said, the quality of work starts to plummet as the hours get over 8 per day. We are not machines. Despite what the hustle culture wants to say.
@@CarlYota ahh I think you’re right. My apologies to the OP. But I agree 100% carlyota, anything over 8 hours and the employee is going to burn out, it’s not if but when.
Love the great info, I would’ve loved to have the comments more related to the topic of the video so that I could learn a little more. Maybe the questions can be more restrictive next time?
50:00 Hey Jeff, another option which has worked well for us is the Flair Smart Vent system. We have a basement unit in our bungalow (ontario), and only one furnace. Flair gives both spaces their own wireless thermostat, and works quite well!
You are very genuine and honest. That's why I'm here. My friend's sister needed a smoke detector installed and change a lightbulb. She said she was willing to pay 200 bucks BUT NOONE CAME. YOUR DRYWALL SKILLS ARE EXCELLENT THATS WHAT HOOKED ME .
So I charge $100 an hour and get $75 after taxes but write off %25 so I made $75 an hour. That's okay but I could just remodel my own house and effectively pay myself much more since contractors charge over$100 hour. And I have to pay the contractor with after tax dollars so it really costs me $125 hr. And to do my own work I don't have to advertise or deal with strangers. So I guess this is meant for people that don't hire out anything. The biggest problem right now is everyone is stoned and doesn't need your money so it's unlikely you'll get half decent work out of anyone for $100 an hour. Diyers save, save, save some more, then suddenly are standing on mountains of cash, living in their paid off dream home.
This construction industry is very dramatic you get 3 quotes but someone is always let down I just say thanks I will let you know , how do you let down people gently ?
right it is closer to 60,000 for homeowners. But then you are not trying to sell your services to house broke folks either. aim for average income areas of 70 or more.
This is misleading. You can’t just work one day a month and write off the entire cost of all your every day living.. only a percentage of your expenses in relation to the ratio of how much you do personal living to working. You CANNOT write off 30% of your home mortgage. You can ONLY write off the home relative to how much you use it for work, and only for a “home Office” exemption. Which means only the value of that room or garage is allowed to be deducted. On your phone, only the portion relative to how much you use it for work can be written off. This goes for everything, including your car if you don’t take a mileage deduction, but even then, only the miles you drive for the job, less the miles from your home to the first place of work. This is all self employed. If people follow the advice in the first 5 min, they will be committing tax fraud. Which is something many people do happily.
Be careful of the handyman that charge $50 for an estimate I’m not talking about a quote an estimate and then they give you an estimate that is triple the price because all they do is go around and charge $50 to give an estimate and that’s how they make their money and they don’t do their job!!!
The other details, I'm with you on. I don't charge for estimates and I should. 1) I have spent a lot of time on some of them, research also, only to have nothing happen. 2) I am very involved with the customer in the process and they do end up with (what I think is) a lot of valuable advice.
Jeff you make me laugh because every few minutes you explain things, then you take a deep breath! I been in business now for 45 years. I hear you loud and clear. I have a grade 8 education. I am self taught entrepreneur. Professional painter/expert and landscaper. Author of a painting book. Inventor of the Gooseneck paint brush. Just graduated at 62 years old, College Diplomat Small Business Consultant. You need to Set goals. Best tip! Hire a Business consultant in the trades. Cheers!
Great advice Donald. Cheers!
Thank you Mr. Sincennes for sharing your story. This will inspire people. Have you considered making a UA-cam Channel yourself?
I started my business just because people asked what I did. I worked for a GC for years before I started doing side jobs. As soon as I started, I was swamped. Word of mouth, and doing quality work.
I work for a home remodeling company. About half of the homes that I do work in ask if I do work on the side. I always tell them they just need to get the approval from my employer to make sure none of the side work doesn't interfere with previous projects/future projects. I get tons of odd jobs on off hours and can charge double what I get paid at my employer. Everyone says it's impossible to find trustworthy and reliable people. Trust me. Just from word of mouth you'll easily find plenty of side work.
as long as the boss is in the loop. Cheers!
Jeff I'm down here in North Texas and worked apartment maintiance years ago. After watching all your videos, i started up my handy man side business for income supplement. Thank you for helping me be more willing to invest in my hands. Great stuff! Mike, Texas
Thank you, Jeff. I recently left the carpenter's union and got my own contractor's license as a handyman. However, I had to do the GC license in my state so I could sub out electric and plumbing. In my state, you have to be certified in electrical and plumbing just to "look" at those things! I love what I do, but starting out, I am not making much money. My biggest expenses are insurance/bonding and every tax imaginable!
please let us know what state you are from and the actual insurance cost for our audience. Cheers!
@Home RenoVision DIY Washington State. My insurance/ bond is around $2k a year. There is a tax just for being a small business owner, I have to charge a sales tax, or bid a nice even number, and eat the tax, my book keeper has to charge me a tax, I have to see him quarterly, as an LLC, I now have a federal tax ID number in order to have a bank account registered to my LLC, even though I do not have employees, and materials these days are at inflated prices, although at least lumber and plywood are down in price. I at least have a contractors account with a local lumber yard, and recently, the Home Depot. I tend to underestimate the amount of time it will take to finish larger jobs. Truthfully, I learned more in my apprenticeship classes than I did in the field... and I was doing a lot of that stuff already before I got into my apprenticeship. Being on the road for 5 hours a day to get to and from work and being forced to pay dues that went towards political candidates, I could never support bc of my religious beliefs for a pension that could be dipped into and lost at any time by our union trusts, and our National General President, I had no real say in anything, and I was in a higher tax bracket when making those "union wages". It came time for me to take a chance on myself. I am 2 years in so far, and I never have to drive to Seattle ever again!
Your channels is amazing! My husband and I watched your video on ripping out a tub and installing a shower and we did that successfully for my aging father! I'm going to start a side hustle painting and stenciling....you've inspired me...great advice on business...and I'm tired of being a nail all the time...I wanna be the hammer
Jeff, I absolutely loved this Q&A Session with you and I learned a bunch.
I love in the beautiful State of Washington, and I think that I will get off my derriere and start my Handyman business!
Cheers and Well done, Jeff!
I agree , it's very difficult to find honest people that actually can do good work. But it's also amazing how many people want to pay next to nothing for workers. They try to negotiate with you. But would not negotiate with the dentist/doctor / or accountants lol. I have heard good things about jobber
the best rule of thumb is to make your rates public so every potential customer knows what they are getting into.
Your tax construct is overstated in the US. You cannot write off 100% of household expenses unless you are able to prove to the IRS that you use your home 100% for that business. If you are able to carve out a space in your home that is used 100% for the business, it can be deducted from taxable income.
that is what I was trying to get across. sorry if I was confusing. just a quick video and not a seminar. Cheers!
@@HomeRenoVisionDIY it is a complex topic for sure and your vid was a high level overview about getting into business. Not tax law tutorial.
People who have the inclination to be in business should do it. And they should seek the advice of a CPA who is experienced in small business accounting and tax work. As an aside, I am not that person. My wife was in the horse business for 30 years and we have a lot of experience, including two full compliance IRS audits covering three years each. Lessons learned:
1) keep your business records organized so that you are prepared to prove your business expenses. This is easier with currently available software and apps.
2) If you are audited by the IRS, send a CPA to interact with your examiner. Lots of reasons for this. But bottom line is that it is a negotiation. The auditor has to find something wrong to write up. That’s for their career advancement.
3) Use your CPA’s guidance on the ‘home office deduction’. Your odds of being audited go up if you overplay your hand on this and you could end up owing IRS money, interest and penalties.
To the guy with the concrete with PVC pipe in his yard.
That may be where someone had a flag pole or bird house. They would just stick the pole into the PVC pipe, and that with the concrete would hold it straight up. Then they could take it down for the winter.
My grandfather had one for his birdhouse when I was a small child. Except that was a lead pipe.
great thought. Cheers!
Must live in New York or California. Your numbers and pricing is over double what we see in the Midwest
Great Video Jeff,
I’m a retired NYC Union tradesman (Tinknocker). But there was still too much month at the end of the money.
So with no business skills at all a 9th grade education, I started a Handyman business, and it’s taking off, not 1k a day, but many weeks I make more than in the Union, no dues, no commute, no boss (except the wife) my only regret was that I didn’t do it sooner.
Thanks again for all of your awesome content.
What was your start? How did you do it and get off your feet? Looking to do the same thing!
@@mattabeln
Not much at all, honestly I made virtual business cards texted it to all of my friends and I've been growing from there. It's been a year and I work every day for almost a year now.
Small rectangle of concrete in the backyard with PVC pipe uncovered in the middle, I'm guessing for one of those like big square multi-layer clothesline drying things 🙂
Agree with all you said. I'm an SBO myself. The problem is that 90% of people do not want to work 80 hrs per week.
And as a SBO you’re willing to pay time and a half for the additional 40 hours/week?
When that $50/hr position hits ot at $75/hr and you realize you could be paying for another 1.5 employees (maybe even ones who haven’t already worked a full 40 hours in a week) why wouldn’t you just hire more people? Most employers do everything they can to screw their employees out of overtime with “salaried positions” and other bullshit employment tactics. It’s called wage theft, and is so prevalent it’s not even funny.
you are looking at the wrong culprit. If Gov't changed the law then employers would be happy to have staff work longer hours. It is the Law that needs to change...especially when everyone is looking to hire.
@Nathan Filz Well Nathan, you kind of missed the point. My OT hours are "free". I can't afford to hire more people, I'd have to raise prices to afford extra labor and then couldn't be competitive with other businesses. The economy has a lot to do with that. Also when budget is tight, people prioritize and buy only what they need most.
@@Nhfilz I think they mean is to BE a small business owner you work 80hours a week. Not that they’re trying to hire people to work that much. And to add to what you said, the quality of work starts to plummet as the hours get over 8 per day. We are not machines. Despite what the hustle culture wants to say.
@@CarlYota ahh I think you’re right. My apologies to the OP. But I agree 100% carlyota, anything over 8 hours and the employee is going to burn out, it’s not if but when.
Love the great info, I would’ve loved to have the comments more related to the topic of the video so that I could learn a little more. Maybe the questions can be more restrictive next time?
I believe you are correct
Each state has a default insurance provider. In MD it is Chesapeake. They have to give you a policy. Check what the equivalent is in Florida
Cheers!
Some good general comments, but most handymen just charge cash, so no reported income or need for expense tracking or write-offs.
How much deposit on future projects should you take?
Jeff, love the content. Can you provide which toilet you buy that you referenced on the plumbing show with Roger?
Thanks Jeff !
ممنونم میثم خان بابت این اطلاعات خوب، ای کاش این ویدیو رو بر اساس تجربیات جدیدت آپدیت کنی😉
50:00 Hey Jeff, another option which has worked well for us is the Flair Smart Vent system. We have a basement unit in our bungalow (ontario), and only one furnace. Flair gives both spaces their own wireless thermostat, and works quite well!
very nice if you can design an updated system before closing for sure. Cheers!
sorry i missed the live stream. i’ll pick it up asap
Cheers!
Ceers
Jeff, you are a true Renaissance man. I'm 67 and working full time but I'm very interested in My own home and a handyman business. Geezer Handyman
You are very genuine and honest. That's why I'm here. My friend's sister needed a smoke detector installed and change a lightbulb. She said she was willing to pay 200 bucks BUT NOONE CAME. YOUR DRYWALL SKILLS ARE EXCELLENT THATS WHAT HOOKED ME .
Awesome !
What if you living with your mother, do the housing write off still works?
We farm and own a restaurant. We have never seen a 40 hour week lol.
No Farmer ever has. Cheers!
@@HomeRenoVisionDIY you too! Best channel on UA-cam.
Hello, do we have any licensed contractors that watched live from Peoria IL?
How do you quote jobs??
this
T&M
best to just have an hourly rate to start. once you get efficient then you can quote by the project to increase income.
@@HomeRenoVisionDIY yes. The more jobs you do the better feel you will get on how to bid. Just don't over complicated it.
Hello
I'm sorry but I don't know people in my state of Delaware ( normal everyday people) don't make but 30 to 40,000 if lucky.
that equals 15 to 20 bucks an hour. you should be pricing yourself at double that rate. Cheers!
So I charge $100 an hour and get $75 after taxes but write off %25 so I made $75 an hour. That's okay but I could just remodel my own house and effectively pay myself much more since contractors charge over$100 hour. And I have to pay the contractor with after tax dollars so it really costs me $125 hr. And to do my own work I don't have to advertise or deal with strangers. So I guess this is meant for people that don't hire out anything. The biggest problem right now is everyone is stoned and doesn't need your money so it's unlikely you'll get half decent work out of anyone for $100 an hour. Diyers save, save, save some more, then suddenly are standing on mountains of cash, living in their paid off dream home.
Jeff! How do I become a member! Help!!!
simply hit the join button or use the link in the video description. Cheers!
Thanks Jeff! Now I gotta find the join button 😬😆😊
300,000??? for a house?? here in Canada there at least double!!
GEORGE Corpus Christi Tx iF MY FIBERGLASSS SHOWER ICLOSURE IS FLUSH how should I FINISH
use pvc trim to bridge the gap. Cheers!
@@HomeRenoVisionDIY Thank you got some edge trim and some siliconeblessyou
1000 for one days work?
yup 8 hrs at $120 and hour. Cheers!
This construction industry is very dramatic you get 3 quotes but someone is always let down I just say thanks I will let you know , how do you let down people gently ?
Yea…the average person does not make no 70k a year
right it is closer to 60,000 for homeowners. But then you are not trying to sell your services to house broke folks either. aim for average income areas of 70 or more.
The “Safety 2nd” guy can’t find insurance to work in peoples homes while filming every move for a UA-cam channel? Shocker!
How much to charge for materials?????
We mark up materials 125% at my employer. think about the acquiring of materials and not just the cost.
great advice.
I charge shopping time .
Credit score is not impacted by changing jobs.
This is misleading. You can’t just work one day a month and write off the entire cost of all your every day living.. only a percentage of your expenses in relation to the ratio of how much you do personal living to working.
You CANNOT write off 30% of your home mortgage. You can ONLY write off the home relative to how much you use it for work, and only for a “home Office” exemption. Which means only the value of that room or garage is allowed to be deducted.
On your phone, only the portion relative to how much you use it for work can be written off.
This goes for everything, including your car if you don’t take a mileage deduction, but even then, only the miles you drive for the job, less the miles from your home to the first place of work.
This is all self employed.
If people follow the advice in the first 5 min, they will be committing tax fraud. Which is something many people do happily.
❤
who needs Andrew Tate? This guy is the real top G
Be careful of the handyman that charge $50 for an estimate I’m not talking about a quote an estimate and then they give you an estimate that is triple the price because all they do is go around and charge $50 to give an estimate and that’s how they make their money and they don’t do their job!!!
The other details, I'm with you on. I don't charge for estimates and I should. 1) I have spent a lot of time on some of them, research also, only to have nothing happen.
2) I am very involved with the customer in the process and they do end up with (what I think is) a lot of valuable advice.