Pros:
1. Potentially high profit margins – Many home repair businesses offer services that require minimal overhead costs, allowing them to charge competitive rates while still turning a healthy profit.
2. Flexible hours – As the owner of your own business, you’ll have the freedom to determine your own hours and work on your own schedule.
3. Satisfying work – The satisfaction of helping homeowners repair and improve their dwellings can be a powerful motivator for those wishing to enter this field.
Cons:
1. Competition – Home repair businesses require different skill sets than many other trades, but the competition for clients can be fierce.
2. Cost of equipment – Starting a home repair business requires that you have access to a wide range of tools and supplies in order to complete various jobs. This could prove costly if you are starting from scratch.
3. Risk of injury – The risk of serious injury is ever present when performing home repairs, meaning that you may need to take extra precautions when working in order to protect yourself.
4. Liability – As with any business, there is the potential for legal liabilities should something go wrong during a repair job. Homeowners have the right to seek compensation if they feel that a service was not properly provided or goods were damaged as a result of negligence.