The sad truth about new small businesses is that 30-50% fail within the first year. Either the business owner runs out of capital to build his business or loses interest in the business. Many times business owners will give up and move on because they underestimated the amount of work involved with running the business.
If you are considering starting your own pressure washing business, you need to weigh all the risks and benefits before you start. You must have a clear idea of what you are getting yourself into. One of the first things you should do before starting a pressure washing company is to create a business plan. A business plan will help you see the big picture for important information such as costs involved, marketing requirements, geographic location, and population. Not creating a solid business plan is the recipe for business failure.
One of the best ways to find out how profitable the market is in your area is to find out how well your competitors in your area are doing. You need to be very aware of who your competitors are and how threatening they are to your business. It may be a good decision to work as an employee of a competitor for a couple of months to gain important market information for the business. Also, this can be a great way to learn new and profitable methods of doing things you may not have thought of before.
If your competitor is having difficulty finding work and has been in business for a considerable period of time, perhaps you should reconsider starting the business. Of course, there are many other factors that could explain this, such as how the company markets the business, but regardless, indications like this should not be overlooked.
Your marketing plan is one of the most important aspects of your business. Without a solid marketing plan, his business is doomed from the start. You may have all the latest equipment and the best intentions, but without customers your business can’t get off the ground. If you have created a solid business plan, you should have a carefully designed marketing strategy for your business. You should know what advertising media is available for your area and what costs are involved in using those services.
