Using a handyperson is cheap, right? Well, "cheap" is probably not the right word you are looking for when finding a professional to work on your home. But, handypersons tend to be more economical and more available than general or special trades contractors.
According to Home Advisor, homeowners should expect to spend $60 to $125 per hour plus materials when quoted hourly rates by a handyperson.
Bob Vila says typical hourly handyman rates are between $60 and $70 for independent workers and around $125 per hour for a handyman who works for a company.
Angie's research indicates handymen charge about $83 per hour.
The handyman business finance equation is Labor = Profit. Right?
Occasionally when people get an estimate or research handyman prices, they are baffled that they aren't $20 per hour.
So what are Bob and Angie thinking? How do we get from $20 to maybe $100 per hour? A professional handyman has expenses related to their profession, other than just an hourly wage. And just because they are not licences contractors, it does not mean they aren't highly skilled, very good at what they do, and in high-demand.
It is possible that you can find someone today for $20 to $30 per hour, but it is likely they are not a registered handyman business, as those rates usually come from someone doing handyman work as a side-job to make extra income or as a hobby. In most areas, that is not a living wage for a handyman relying on their handyman job as a business and as a way to provide for their family.
You may be wondering what a self-employed small business owner is responsible for besides paying employees a salary. The list is long, but the most common operational expenses are liability insurance, healthcare insurance, business licenses, tools, vehicles, gas, maintenance on equipment and so on. This is the cost of doing business as a handperson and only unavoidable if you stop working.
"In this world nothing can be said to be certain, except death and taxes." — Benjamin Franklin 1789
Taxes and the IRS: Self-employment taxes, workman's comp, social security, and medicare, must be paid by self employed handymen and are only unavoidable if you stop making money.
So, the handyman finance business equation actually works out something like this:
Labor + Business Fees + Business Development Costs + Taxes + Profit = Handyman Prices
It is my experience in life that the cheapest option, is cheap for a reason.