Intro:
The outlook for the pressure washing business is positive according to several sources and the Bureau of Labor Statistics. Job growth in the industry means that opportunities lie ahead for entrepreneurs too.
Cleaning with pressurized water falls into the home improvement category. Homeowners, property managers, and property owners like the service since it delivers an efficient way of cleaning walls, streets, and other surfaces.
Municipalities also hire professionals in this niche to help them clear streets after the first rain of the season or heavy rainfall. The professionals use their equipment to clear the clogs. Then, they help remove the debris covering the grates.
Entrepreneurs interested in entering this business should consider a few factors. For example, all entrepreneurs who establish a service-oriented business must obtain the proper credentials, acquire insurance, and register it.
The following are seven things to keep in mind when starting a pressure washing business.
1. Explore the Market
The outlook for the pressure washing niche is positive on a national level. Plus, you can service residential, commercial, and municipal clients to increase business opportunities.
After you decide where you will base your venture, explore the local and regional markets.
How far are you willing to travel to service clients?
You might decide that it’s more cost-effective to service a 50-mile radius instead of 100. Once you narrow it down, look up your competitors. Then, become acquainted with them.
It’s possible to succeed in a location that has dense competition if you differentiate your operation. That’s why market research is important.
2. Invest in the Equipment
Professional pressure washing equipment costs start at $1,000 and climb to $10,000. Other entrepreneurs can start their companies with little to no upfront investments such as website developers, content writers, and tutors.
That’s not the case for professionals who will wash exterior walls, streets, decks, and fences with pressured water.
You’ll find commercial equipment in a few types including:
- Stationary
- Portable
- Roll cage
- Truck mount
Then, you want to pick the force per square inch. The PSI ranges from 1,000 to over 7,000. Plus, you need the nozzles and accessories.
To manage the upfront costs, start with the essentials. Once business picks up, add to the arsenal.
3. Register the Business
Before visiting your first client, register your company and obtain a business license. Most states require home improvement professionals to obtain an occupational license.
More importantly, registering your business validates your company. You’ll receive your employer’s tax identification number so you can open your business bank account too.
4. Obtain Insurance
All entrepreneurs must obtain business insurance for themselves and their companies. For example, self-employed pressure washing insurance exists. Start with some essential insurance policies such as:
- General liability
- Personal liability
- Business income protection
A cost-effective strategy for managing insurance costs is bundling policies. Business Owner’s Policy and Commercial Umbrella options are two bundle examples.
5. Market Your Venture
Once you have acquired the necessary business credentials, you can start marketing your venture.
In some states, customers will request your license number and insurance information; they want to work with legitimate service providers. Therefore, you put yourself in a position to advertise it.
Consider employing an offline and online digital marketing strategy. Offline marketing consists of television commercials, ads in the newspapers, and billboard advertising. Couple it with online marketing elements such as a:
- Website
- Social media accounts
- Search engine optimization
- Business listings
Since 80% of consumers look up product and service information online before committing to either, make it easy for clients to find your business by developing an online presence.
6. Organize the Finances
Industry insiders estimate that it takes $2,000 to $25,000 to start this business. Thus, organize the finances. You might have a portion of it in your savings. Your family might lend you the rest.
If you can’t purchase the equipment right away, it’s possible to lease it.
Once the business is up and running, keep an eye on the expenses and revenue so you can optimize each. Moreover, you must keep meticulous records for the taxing agencies such as the IRS.
7. Assess the Progress
Entrepreneurs benefit from reviewing their company’s business operations, costs, and revenue regularly.
You can assess your proposed budget against reality, especially in the first year. Insufficient financing is the main reason why companies fail in the first two years.
Conclusion
Homeowner demand for services from the home improvement sector will remain stable. In down economic times, it might decrease slightly. However, the years 2020 through 2021 proved that homeowners and property owners will invest in their properties. Once you navigate the bureaucracy and startup phase, entrepreneurs can establish a viable pressure washing business.
