how to start a repair business

Start an electronics repair business by following these 10 steps:

1. Plan your business. A clear plan is essential for success as an entrepreneur. ...
2. Form a legal entity. The most common business structure types are the sole proprietorship, partnership, limited liability company (LLC), and corporation.
3. Register for taxes. ...
4. Open a business bank account & credit card. ...
5. Set up business accounting. ...

More items...

Full Answer

How to start a computer repair business from home?

What You’ll Need to Start Fixing Computers From Home Decide what and how you'll offer your computer repair service. Will you include computer setup along with repair... Set up a workspace that has the tools and equipment you need to work efficiently. Write a business plan and marketing plan, ...

Should you start your own car repair shop?

Most drivers now have cars that are at least 10 years old, which means that the need for an auto mechanic is growing for more consumers. Starting your own car repair shop can give you control over your own hours and allow you to reap the benefits of owning your own business. Define the scope of your business.

Should you start a computer repair business or pay off debt?

You want to focus the majority of your efforts on building your business, not repaying debt. A computer repair business offers a certain degree of flexibility when it comes to structuring your work environment.

What is the best way to advertise a home repair business?

So, whenever you aren’t working for a customer, you should be working on your marketing. What’s the best way to advertise a home repair business you ask? Well, the quickest way to get customers is probably Thumbtack or Angie – but these options are also expensive and frustrating.

How do repair techs make money?

Here are four awesome steps to help you start making money by repairing electronics.Repair Other People's Phones. ... Buy Broken Phones / Repair & Resell Online. ... Managing a Successful Online Electronics Repair Business. ... Teach People How To Repair Phones. ... Buy & Resell Parts To Repair Stores. ... To Wrap Everything Up.

Is electronic repair business profitable?

How much profit can an electronics repair business make? An electronics and computer repair business owner can earn from between $27,000 to over $100,000 per year, depending on knowledge and experience. With additional employees specializing in different types of popular devices, profits can increase substantially.

How do I start an auto repair shop?

Start a car repair shop by following these 10 steps:Plan your Car Repair Shop.Form your Car Repair Shop into a Legal Entity.Register your Car Repair Shop for Taxes.Open a Business Bank Account & Credit Card.Set up Accounting for your Car Repair Shop.Get the Necessary Permits & Licenses for your Car Repair Shop.More items...•

How profitable is cell phone repair business?

How much profit can a cell phone repair business make? An average cell phone repair business could net profits in the range of $50-65,000, with greater earning potential, as you continue to become more well-known and successful.

How do I learn to repair electronics?

2:011:15:14How to repair electronics for dummies part 1 - YouTubeYouTubeStart of suggested clipEnd of suggested clipBut you do have to understand how the components work what their job is. And you kind of have toMoreBut you do have to understand how the components work what their job is. And you kind of have to know a little bit about electricity. You know and you also have to end up taking responsibility.

What is the name of a person who repairs electronics?

Electronics techniciansElectronics technicians help design, develop, test, manufacture, install, and repair electrical and electronic equipment such as communication equipment, medical monitoring devices, navigational equipment, and computers.

What is the most profitable auto repair?

Brake jobs A car's brakes are one of the most critical. A full-service repair shop that offers brake adjustment, repair, and replacement services will never run out of brake job customers.

How profitable is a auto repair shop?

Average Profit of a Auto Body Shop In general, a larger auto body shop can earn $100,000 per year, and mechanics themselves can make between $30,000 and $50,000 per year. BizStats offers a breakdown of costs vs revenues. This, of course, will vary depending on your location and area of expertise.

How do you organize a repair shop?

5 Ways to Organize Your Auto Shop for Productivity#1 Embrace Technology. You don't have to (and shouldn't) remember everything about every car and every customer. ... #2 Invest in Time-Saving Equipment. ... #3 Keep Your Shop Floor Clear. ... #4 Standardize Common Repairs. ... #5 Minimize Wasted Trips.

How do I get customers to fix my computer?

9 Unique and Professional Ways to Promote your Computer Repair BusinessReach your Customers. ... Experience Matters. ... Introduce Free Pick and Drop Service. ... Reasonable Pricing. ... Surprise your Customers with Free Services. ... Get Enough Time for Business Marketing. ... Networking is Also Important. ... Add on More Professionalism.More items...•

How do I start a phone repair business in Kenya?

Getting initial requirement to start a Phone Repair businessBusiness plan.Legal law documents, e.g., licenses and insurance.Tools used for phone repair.Know the best supplier for actual phone repairing parts.Know the cost of the phone parts.

What are the costs involved in opening a general home repair business?

A general home repair company can start with and retain a low overhead operating cost. You’ll first need to get your contractor’s license, form an...

What are the ongoing expenses for a general home repair business?

Most expenses will pertain to materials, equipment costs, internet, cell phone, website services, fuel and vehicle maintenance, and annual insuranc...

Who is the target market?

Local and regional homeowners of all ages.

How much can you charge customers?

Charging for work will depend on the type of work being performed. Your hourly rate for labor should be relative to other contractors in your area....

How much profit can a general home repair business make?

Home repairs businesses can be lucrative, especially if you’re able to work in an area with more homeowners than renters. Work to retain low overhe...

How can you make your business more profitable?

Offer deck and gazebo construction, as a service, if you have the experience and knowledge. Smaller construction projects can still keep your overh...

Is this Business Right For You?

If you are an experienced carpenter or trade worker looking for an independent business with low overhead, general home repair may be an excellent...

What happens during a typical day at a general home repair business?

A general repair business focuses on servicing customers and generating new leads for future jobs. Calling and communicating with customers will co...

What are some skills and experiences that will help you build a successful general home repair busin...

As a home repair professional, you’ll need to have knowledge and experience in a wide variety of construction and machinery work. You’ll need a gen...

What is the growth potential for a general home repair business?

General home repair businesses can do well. Since many of the jobs you are completing are of a smaller scale, your materials costs will be minimal....

Why Start a Repair Business?

Before we even reach that point, we have to survive through the hard financial times which will bring our nation to its knees. For some of us, that will most likely mean the loss of our jobs, our cars and our homes; in fact, it could mean the loss of everything that’s important to us, if we lose our jobs.

Why are repair businesses not making money?

Keep in mind that some repair businesses may not generate a lot of money right now, simply because people aren’t accustomed to repairing things, but rather replacing them.

Why do repair businesses have little investment in parts?

Information. Parts. Many repair businesses have little investment in parts, because they buy the parts for each repair that they do. But even then, there are common parts that need to be stocked, just to prevent the necessity of having to run to the store or parts house to buy them for every job.

What keeps people from starting a business?

One of the things that keeps many people from starting a business of any sort is the cost . We tend to think in terms of needing to rent a storefront and build a complete business. But in reality, many businesses, like repair businesses, can be started out really small.

What is the second thing you should do for your marketing?

The second important thing you should do for your marketing is have a website. Here in the information age, just about everyone checks out a business online, before doing business with them.

What to do if playback doesn't begin?

If playback doesn't begin shortly, try restarting your device.

What is the key to financial success?

The key to financial success has always been the same, find a need and fill it. That’s true in times of plenty and it’s true in times of lack. So, what you need to do is find something that will be an area of need in that time, and prepare to fulfill that need.

15. Start an electric car repair & servicing garage business

Examples of a successful electric car repair & servicing garage business:

17. Start an ATM machines repair, servicing and maintenance business

Examples of a successful ATM machines repair, servicing and maintenance business:

46. Start an electric car batteries refurbishing business

Examples of a successful electric car batteries refurbishing business:

Is it good to start a home computer repair business?

While there are many advantages to starting a home-based computer repair service, there are a few downsides, too. Attracting customers can be a challenge in the beginning, whether you’re cold-calling potential clients, touting your computer repair skills at tech fairs, or handing out flyers at small businesses and residences.

Can you subcontract repair work?

More elaborate and complicated repairs will require an investment in tools, hardware, software, and supplies, but you can subcontract this work out or charge a little more to repair serious issues.

What is a home repair business?

A general home repair business focuses on small to medium-sized home repair needs. From appliances and plumbing, to electrical, windows, and doors, a home repair handyman has to be able to wear many different hats.

How do home repair businesses make money?

General home repair businesses make money by completing customer jobs around the house.

What does it mean to have a legal entity for home repair?

Establishing a legal business entity such as an LLC or corporation protects you from being held personally liable if your general home repair business is sued.

What is general repair?

A general repair business focuses on servicing customers and generating new leads for future jobs. Calling and communicating with customers will constitute some of your most important daily actions, as you need to keep current customers up to speed and inform future customers when you’ll be starting work.

How much does a home repair business make?

Work to retain low overhead costs, and your business could earn between $40,000 and $70,000, annually.

How to advertise your business in the community?

This consists of advertising in local magazines and papers, posting flyers, creating radio and TV ads, renting a billboard, creating a website for your business, and developing a social media presence for your business. Once you are working, ask your customers to become your advertising partners by referring your business to friends and family members.

How to advertise your business?

Advertise in hardware stores and lumber yards you use. Spread the word by talking with professionals and store associates you often see — they can recommend you to potential customers. Contractor service desks often let you post flyers for your business too.

Why is it important to open a car repair shop?

If you are interested in opening your own car repair shop, now is a great time because the market for mechanics is currently experiencing significant profit gains. Most drivers now have cars that are at least 10 years old, which means that the need for an auto mechanic is growing for more consumers.

How to get more customers for your business?

Consider advertising on TV or on the radio. TV commercials and radio ads may also help you to reach a wider audience and gain new customers.

What to do if you are denied a loan from the Small Business Administration?

If you are denied a loan from the Small Business Administration or your local bank, then you could consider other lenders like OnDeck and Kabbage if you need cash quickly. These lenders are meant for short-term loans because their interest rates are very high.

How much does it cost to join a Jiffy Lube franchise?

Do you plan to remain an independent repair shop or will you join a franchise like Jiffy Lube or Midas? You will generally need $30,000-$200,000 to join a franchise, but the advantage is that they will handle marketing and they often have a nationally trusted brand name for potential customers. If you do not have any existing customers in your current career that you know would follow you to a new business, joining a franchise might be worth the investment.

What happens if your shop is isolated?

If your shop is very isolated, it is unlikely customers will come to you, especially when towing costs are often tallied by the mile. Your location should also be able to accommodate an office for you to take care of your administrative needs and a waiting room area for your customers.

What is the scope of a business plan?

Opening your business plan with its scope provides a general idea of how many customers you will serve and on what scale you will serve them. How many cars do you plan to service in a day and how many staff members will you take on?

How much does it cost to open a franchise?

While the costs will be more on the business and administrative side than the equipment and resource side, you should still expect to spend $30,000-$200,000 to open your franchise. Guess again!

What degree do I need to repair a computer?

You don't need a degree to open a computer repair business, but there are several certifications you may want to obtain to prove that you have the necessary expertise and potentially gain a competitive advantage. Some of the more common ones include: 1 CompTIA A+ Technician 2 Cisco Certified Network Associate (CCNA) 3 Certified Information Systems Security Professional (CISSP) 4 Microsoft Certified Systems Engineer (MCSE) 5 ACMT (Apple) 6 BICSI Technician (BICISI)

How to get a business off the ground?

One option to consider is a loan through the Small Business Administration. The SBA partners with lenders, community development organizations, and micro-lending institutions to set guidelines and facilitate loans for small business owners. This reduces risk for lenders and makes it easier for small business to get approved – typically at lower rates than they might ordinarily qualify for through a traditional bank loan.

What type of insurance is used for computer repair?

Another policy that can benefit computer repair businesses is a business owner's policy, which combines general liability and commercial property insurance at a lower rate than if you purchased each policy separately.

What insurance do computer technicians need?

Computer repair technicians can also benefit from professional liability insurance, also known as errors and omissions insurance. This policy can pay for the cost of a lawsuit if a client sues claiming that you made a mistake or failed to provide a service you promised.

How to promote your business?

It's important to make marketing a part of your regular schedule. Set aside a few hours each week to touch base with current and potential clients, post on your social media accounts, and otherwise promote your business .

Why limit repairs to house calls?

Limiting your repairs to house calls at your clients' homes or businesses eliminates the added expense of a storefront, and also creates a natural separation from your personal life at home. However, there are other factors to take into account. You will be at the mercy of your clients' schedules, and you also run the risk of jobs taking longer than anticipated, especially if clients ask you to complete extra work once you're there. Since you’ll be driving to your clients, you should also consider purchasing commercial auto insurance, since most personal auto policies don’t cover business-related driving.

What are the options for financing a home?

Other financing options to consider include finding investors, such as venture capitalists or angel investors; using credit cards; tapping into a 401 (k); crowdfunding; and borrowing money from family and friends.

How long does it take for a credit repair business to explode?

Starting a credit repair business can be extremely lucrative, especially in the aftermath of Covid-19 pandemics; the credit repair industry will explode within the next 18 to 36 months from those seeking help.

Who should consider adding this service to their current business practices?

Also, attorneys, real estate agents, mortgage brokers, car salespersons, tax professions, and financial planners should consider adding this service to their current business practices.

How much money can I make in credit repair?

It is important to know that you can make seven figures in the credit repair business and a great living of six figures or more. However, hyping a business, as I’m told it is called, to boost sales or brand is unnecessary, especially in the credit repair industry. This could bring more unwanted scrutiny from local state AG offices. Also, it can be embarrassing if a researcher gets involved and is unable to verify such claims.

How much does a credit repair company make?

A credit repair company can make from $500 to $8,500 per month for the average person working from home part-time, spending about 20 to 30 minutes per month for each client. However, you will spend more time on the intake process of initial contact with the client.

What are the two organizations that support credit repair?

There are two great associations that support credit repair industry standards: the Credit Consultants Association (CCA) and the National Association of Credit Services Organizations (NACSO). These organizations have two different approaches to certification.

Which is the oldest credit repair organization?

These organizations have two different approaches to certification. CCA is the oldest and has the largest membership. They have a very affordable annual fee, take complaints from consumers, certify individuals rather than companies, and go undercover to check and weed out bad credit repair companies.

Can I outsource credit repair?

Yes, you can outsource a credit repair business, but I do NOT recommend doing this when you first start. Why? Because you need to understand how this system works and know how to do the work yourself. What if something happens to your outsourcing service? Many of them may have one person who is the guru, and their virtual assistants just follow their instructions. There was a case where one person was doing outsource work for several small companies but became extremely ill. It was tragic because the credit consultants that hired them for outsourcing services went out of business. This was because they did not know how to do the work themselves. Why did they shut down? They had many requests for refunds because they did not have the skills to do the work themselves and couldn’t afford to hire another outsourcing firm in time. Also, the consultant could not hand it over to another source as they did not know what work had been done. However, If you are looking to outsource, there are several sources available. Trade associations can help you find a source.

Step 1: Decide if the Business Is Right for You

Starting a computer repair business has pros and cons to consider before deciding if it’s right for you.

Step 2: Hone Your Idea

Now that you know what’s involved in starting a computer repair business, it’s a good idea to hone your concept in preparation to enter a competitive market.

Step 3: Brainstorm a Business Name

Your business name is your business identity, so choose one that encapsulates your objectives, services, and mission in just a few words. You probably want a name that’s short and easy to remember, since much of your business, and your initial business in particular, will come from word-of-mouth referrals.

Step 4: Create a Business Plan

Every business needs a plan. This will function as a guidebook to take your startup through the launch process and maintain focus on your key goals. A business plan also enables potential partners and investors to better understand your company and its vision:

Step 5: Register Your Business

Registering your business is an absolutely crucial step — it’s the prerequisite to paying taxes, raising capital, opening a bank account, and other guideposts on the road to getting a business up and running.

Step 6: Register for Taxes

The final step before you’re able to pay taxes is getting an Employer Identification Number, or EIN. You can file for your EIN online or by mail or fax: visit the IRS website to learn more. Keep in mind, if you’ve chosen to be a sole proprietorship you can simply use your social security number as your EIN.

Step 7: Fund your Business

Securing financing is your next step and there are plenty of ways to raise capital: