How is the Economy Affecting Your Business?

[Krister]

Hi all,

New here. I am considering entering the power washing business. Did some of it quite a while ago. I have been writing a business plan, gathering lots of information, and trying to learn as much as I can. Some speed is essential since much of the cleaning season is rather short here (make hay while the sun shines - and is WARM), and that season is here.

Starting up would require a fair chunk of dollars on the table. I am interested to consider whether I should go ahead or not, especially with our economy in something of a recession right now. What are any of you experiencing: are sales up or down, how much, is it harder to close a sale right now, what other economic impact are you having?

Would appreciate any and all comments. Thanks

Krister Willette
Minneapolis, MN

 

[PressurePros]

If you know how to market (what to say and whom to say it to) and you know how to sell and you know how to price for growth, the economy will not affect your business. I am booked through the middle of May and this will be my most profitable April of all time.

 

[newbie pete]

i agree. this is my first year in business and i am already booked up for the next 3 weeks. I know that doesn't garauntee a good season but it's definitely a good start. if you keep your head in the game and stay hungry for more work, you should do good.

 

[5 Star Johnny]

What Ken said relates to your success, no matter what the current economic climate is. Our primary market is residential (85%+), and we don't expect a down turn. We, too, are having a great spring thus far, and are booked solid through the end of May. This is due to our annual deck maintenance program, with just under 200 decks to perform maintenance on this year. However, with minimal marketing so far this year, our inquiries have been consistent, and we haven't yet started our major marketing campaign yet. But again like Ken said, unless your marketing is effective, there's a tendency to blame poor market conditions or competition when you don't get the response you expected from marketing efforts.

In my opinion, I don't believe the economy is in as big a crisis as the media would lead to believe. Remember, it's an election year and stories must be told to sway your voting decision. However, in a down turn market, residential work should stay strong. History has always shown that remodeling and home improvements gain strength in this type of climate. People will cut out vacations and other discretionary spending, and focus on their most valuable asset....their homes. Especially retirees, most of whom have the money to do these types of projects.

My advice, form a complete marketing strategy with the focus of your business and service strengths in the fore front. Get help with this if its not your strength. Respond to all inquiries immediately. And most importantly, be sure you can provide the level of service you promote. Good Luck!

 

[FCPWLLC]

No affect here other than doing more work for realtors trying to sell homes. I love it when folks see half empty glass. Folks don't just lose money... It is just transferred to others. The key is to be the guy that the money is transferred to.