The facilities management industry (including commercial cleaning) is forecast to reach $465 billion by 2024.
That’s why choosing to become a franchisee with a professional cleaning service is a great idea.
Read on to learn how to open a professional cleaning service.
Do Your Research
When considering starting your business, before anything else, you must complete market research.
It’s important to know if there is a need for a professional cleaning service. Are there already similar services in the area?
If so, how many? How successful have they been and why? Do these businesses specialize?
You also need to know if people are willing to pay for the service. A big chunk of market research involves asking businesses how much they are willing to pay for a cleaning.
As you do this, you will start to zero in on the demographic that is most interested in your service. This will be important later on when you decide to specialize.
The great thing about becoming a franchisee is that the leg work is already done for you. You will get a proven, turn-key business model that is sure to succeed.
Also, if you start your own cleaning business, you will likely be bogged down with doing the cleanings.
Yet, when you choose to become a franchisee, you get to be a business owner, not a cleaner. This way, you get to run and expand your business instead of using all your time doing the cleaning.
Speak to Other Franchisees
One of the best things you can do is speak to other franchisees. they will be able to tell you their experience in starting up a professional cleaning service as a franchisee.
You’ll want to find out if they are happy with the level of support they received from the franchisor. Also, does the reality of the business fit with the expectations they had before they started?
Speaking to other franshcisors is invaluable research that will help you see if this is the right move for you. You may also get tips that will help you as you get started.
Get Necessary Business Permits and Insurance
Regulations and requirements vary by city and state. Luckily, your franchisor will have a good understanding of the permits and insurance you need to operate.
You may also want to check with your local authorities so that you are compliant.
Obtain Funding for Your Small Business
Once you have your plan and your registration is taken care of, it’s time to look for funding.
One of the key benefits of investing in a cleaning franchise is that costs can be much lower than starting a business from scratch.
With the right franchise, you can get going for under $10,000. Compare that to the thousands you might need to get equipment, inventory, and commercial space.
There are various ways to get funding for your business. You can get a business loan from a bank, look for an investor, crowdfunding, and more.
Family and Friends
While family and friends may be willing to lend you money, do so with caution. You want to make sure that everyone is clear on the terms.
Will family expect to have a say in your company or get free cleanings? Do you expect them to be lenient with repayment?
If there’s a chance that your relationship could sour as a result of this loan, don’t do it. There are plenty of other avenues to explore.
SBA loans are often the best route for new businesses. These loans are partially guaranteed by the SBA but come from banks or other lenders.
SBA loans tend to have better rates and terms.
Business Lines of Credit
A flexible way to get funding for your professional cleaning business startup is through a line of credit.
With this type of funding, you get to take capital as needed up to your pre-approved amount. This is great if you don’t need all the money all at once.
When a person chooses to invest in your company, it is a trade. They are giving you money with strings attached.
Investors generally ask for a percentage of equity in your company. Or they may demand interest on the money they lend you.
Working with an investor can be wonderful or it can be a nightmare. Choose your investor wisely and be sure to have everything in writing.
Sign the Franchise Agreement
Now you are ready to sign the franchise agreement. Be sure to read the terms carefully to ensure you fully understand. Now is the time to ask questions if you have any.
You may want to get advice from a lawyer who specializes in franchise agreements.
Hire Staff and Attend Training
One of the most appealing aspects of opening a franchise is that the franchisor will provide training. You can avoid the trial and error that many small business owners have to go through.
A good franchisor will provide training to help you get your business up and running. They should also offer periodic training to keep you up to date on the latest trends and methods specific to your franchise.
Start Your Professional Cleaning Service the Right Way
There you have it! Now you know the essential first steps to get your professional cleaning service off the ground.
Remember, starting your business off correctly sets you up for success in the long run.
OpenWorks is a commercial cleaning franchise company that provides opportunities for home operators. Request information here.