Even before the COVID-19 pandemic started, economists were already predicting a global recession due to start sometime in the next few years. However, the free fall of the economy has only been accelerated by the COVID-19 virus pandemic, and there's no doubt that we do face tough economic times ahead.
A coronavirus-induced recession, however, doesn't mean that you can't continue to be entrepreneurial. Instead, you just have to be smart about how you do it. In this article, we'll teach you how to start a cleaning business even given the tough economic landscape we're looking at today.
Start with a Business Plan
In times of economic trouble, it's important that you get your ducks in a row and start with a business plan. You should be able to size your market, analyze your competition, and forecast financial projections in order to have a good idea of whether or not you'll succeed in the market.
Assemble Cleaning Equipment
Once you've got a business plan together, it's time to start assembling an arsenal of cleaning equipment. Many folks think that a good way to save money on a business is to make do with cheap equipment that doesn't get the job done as easy as higher-end equipment does.
However, look at it this way. Consider time to be a precious resource and not necessarily money. Let's say you can purchase carpet cleaning equipment used by professionals, which completes jobs in half the amount of time as cheaper machines. All of a sudden, you've doubled your hourly rate because you can serve twice the customers in the same amount of time.
Besides carpet cleaning equipment, you'll also need high-capacity vacuum cleaners (try to get a wet-dry combo), cleaning chemicals, trash receptacles, and disposables (paper towels and the like).
Find the Right Labor
The next step is to find the right labor. The good news is that during an economic recession, there's no doubt that plenty of people will be around who really need money. Thus, it shouldn't be too difficult to assemble a crew. The hard part will be assembling a competent crew.
Just remember that those who have experience will always be better than those who don't. Also, employees who show some ownership and responsibility will certainly be better at servicing clients.
Talk to Commercial Businesses
When you start a cleaning business, you shouldn't just target residential customers. Instead, you should also be shooting to work for commercial businesses. This is due to the fact that commercial businesses will be able to place you on large, lucrative projects.
Companies often don't pinch their pennies as direct consumers do, which makes it easier to win those big contracts. The result of that is you making more money. It isn't as hard as you might think to get a big company's business, either.
In times of economic recession, however, if you're able to undercut your competition while providing the same service, then there's a solid chance that a company will only be too happy to save some money.
How to Start a Cleaning Business, Made Simple
There's no doubt that there are some hard times economically ahead of us due to coronavirus and job losses. But, don't let this quench your entrepreneurial thirst. There's still plenty of business to go around and plenty of money to make.
With this quick guide on how to start a cleaning business, you'll be more than ready to face the coming recession. For more business advice like how to start a cleaning business or other business model, keep tabs on our Frugal Finance blog! Visit the Business section right now for new lean startup ideas!
