If you’re an aspiring entrepreneur, the pressure washing business is no doubt on your radar, and rightfully so as it can be an extremely profitable business if done right. With low overhead costs and plenty of grime to clean, succeeding is certainly possible. However, before that happens, there are a few things you need to know. Thus the following includes a few pieces of advice when wanting to start a pressure washing business.
Choose the Right Business Structure for Your Company First
One of the first things you will need before working with any client is to choose a business structure for your company. If you’re going into this solo, you may want to look into forming either a sole proprietorship or an LLC (limited liability company). However, business owners often prefer forming an LLC as it offers you the ability to separate yourself from the business, which can come in handy if you are ever presented with a lawsuit. Although the cost of forming an LLC is a little more than a sole proprietorship, the peace of mind that comes from it is well worth the extra trouble.
Rent in the Beginning & Purchase Down the Road
In the beginning, your monthly budget is going to be tight. This is why it is so important to concentrate on production expenses and how to keep them as low as possible. One of the bests ways to do this is to rent your equipment. Renting equipment, in the beginning, allows you to keep costs down and even allows you to use the best models in the market. However, as you grow your clientele and thus your profits, purchasing your equipment outright is recommended as the cost of continuing to rent turns into a liability rather than a way to save money.
Decide and Agree on Your Target Market
Every building gets dirty, no matter if they’re residential or commercial. However, your branding, in the beginning, must be concentrated on one specific market. This allows you to build relationships and thus your brand. If you’re looking for a bigger payday, commercial properties may be your best bet, but they can also take longer and require a larger number of employees to clean. On the other hand, residential properties are much easier and can often be completed by one person but don’t often pay as much as a business.
As you can see from the information above, starting your very own pressure washing business is possible, but there are a few obstacles that need to be dealt with along the way. Utilize the information above so you can form a strong foundation and allow your company to grow in a healthy and effective manner.