The sad truth about new small businesses is 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 onto something else because they underestimated the amount of work involved with the business.
If you are considering starting your own pressure washing business you should weigh all of the risks and benefits before starting. You should have a clear idea about what you are getting yourself into. One of 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 full picture for important information such as the costs involved, marketing requirements, geographic location, and population. Failure to create 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 are doing in your area. You need to be well aware of who your competitors and how much of a threat they are to your business. It can be a good decision to work as an employee for a competitor for a couple months to find out important information about the market for the business. Also this can be a great way to learn new, cost effective methods of doing things that you may not have thought of before.
If your competitor is struggling to find work, and has been in business for a considerable length of time, maybe starting the business should be reconsidered. Of course there are many other factors that could explain this such as how the company is marketing the business, but regardless, indications such as this should not be overlooked.
Your marketing plan is one of the most important aspects of your business. Without a solid marketing plan your business is doomed to fail from the start. You can have all of the latest equipment and the best intentions, but without the clients your business will be unable to get off the ground. If you created a solid business plan, you should have a carefully laid out marketing strategy for your business. You should be aware of what advertising mediums are available for your area and what costs are involved to use those services.