We don’t say that apartment maintenance should be on your list of passions. Sometimes, passion is overrated. You do not need to have an undying love for any particular business idea. If it is a business idea, you shouldn’t think about whether it is your passion or not. If you have a workable plan, enough funds, and dedication, you could be building your business empire soon.
Business should be your primary passion; your passion need not be apartment maintenance or others all the time.
Now, let us study whether this business has the necessary demand or not. Of course, there is a surging requirement for apartment or building maintenance services. Everyone is busy out there; when they return from the office or after a long tiring day of meetings, they do not wish to get overwhelmed with the house cleaning tasks. They need a break and not another worry about cleaning all the nooks and corners of the house or the apartment.
Here, you come to the picture, and you save their day by providing apartment maintenance services that are the best and reasonable in the industry. There are plenty of tasks to be done, formalities to be completed, and plans to be formulated before you start this venture. Following is a short overview of how to create a similar business.
Visualise how your maintenance business would look like
As you create a mental picture of your venture, it will be capable of taking a physical form. Visualizing helps you to plan better and more effectively. In the case of the apartment maintenance business, you can lay down the scope of its operations. Do you want to specifically cater to the weekly or monthly cleaning packages or move-in and move-out cleaning tasks?
You can even adopt a business culture of providing building maintenance services as the margin is good, and you could be catering to multiple clients. It all depends on how you draft your strategy. Remember that even if it is about maintenance, there is a huge difference between each niche. Apartment cleaning will require you a few hours, but cleaning the whole building will need you to put in several hours and more staff to complete the said task.
You can start with a niche and change it over time. There is no problem with that. Many reputed maintenance service businesses have done that as no one is perfect initially. But it is better if you focus on a particular aspect at the start as the future marketing efforts are influenced by them.
Plan your business meticulously
Missing out the business plan part is a critical mistake. This does not imply that you can do it as a formality. You have to rack your brains along with your business partners in crafting out a realistic plan that is most appropriate for your venture. A business plan comprises sections such as the executive summary, short description of apartment maintenance services, market research, competitor analysis, funding alternatives, financial projections, and marketing plans.
Business planning is not a one-hour task. It will require brainstorming and putting down actual figures on paper. Remember that it need not be idealistic; your business cannot start fetching millions of dollars right from the first month of its launch. Just make the plan realistic and let the venture begin. If you can find better options to rent or lease equipment or to market your services to the target audience, you can mention them in your plan.
Generate a revenue model for your business. But before that, you will have to set up a pricing structure for your services. If you will include any discounts or launch offers, do they justify the income projections you have made?
Establish your venture legally
You know how your business would look; now, it is the time to provide it with a concrete and solid structure. You will need a business name, an easy-peasy yet unique name that people will recollect without effort. The next task is to select a business structure that is within your limits. A sole proprietorship is a great option, but if we do not want to be personally liable for the losses, you can choose a limited liability company.
Licensing differs from state to state and city to city. Hence, if you are in Chicago and prefer to start a maintenance business there, you need to check the licensing guidelines prevalent in Chicago and the relevant state of Illinois.
Apart from the name and business structure, licenses and approvals play a major role. Insurance is another crucial parameter you need to consider and obtain. As you hire staff for the routine maintenance activities, you will need Workers’ Compensation Insurance. Some apartment owners might require you to furnish copies of your license and insurance before you step in. Do not mind it; it shows how credible you are. Similarly, displaying these two vital credentials on your online profile is an effective way to seek clients.
Seek the right resources
First, you will need to recruit the right people for your business activities. Right people refer to skilled, talented, and reliable persons you can trust and represent your organization. Ensure that you have them recruited before you hunt for clients. You might receive an order for apartment maintenance, and you will wonder the whole day, “Where can I find my staff?” This situation will not arise if you hire human resources beforehand.
Build a recruitment process, schedule interviews, and run due diligence of each employee before handing over the offer letter to them.
Each team should be well-equipped when they reach their client’s destination. Vacuum cleaners, sponges, window cleaning brushes, towels and napkins, brushes, cleaning solutions, sanitizing solutions, and many more. Moreover, your staff should represent your organization in clean, ironed uniforms.
Some apartment owners prefer organic or cruelty-free cleaning products. You can add to your specifications even if it sounds like a hassle.
Create a solid marketing plan
Marketing depends on how much you can spend money. But apart from the money factor, it depends on how smartly you can arrange the marketing activities. For instance, you can contact your friends, relatives, and family and get in touch with the apartment managers they know. This is the simplest technique. But you will have to put effort into creating a striking impression on your prospective clients. Never forget the visiting cards and brochures, and try to maintain a healthy follow-up about your services.
You can run ads in the leading newspapers, but the digital medium is the most trusted and effective mode of marketing your services. Harness the SEO tactics, make your online profile look credible, and be active on social media. You can also create backup links for your services on websites such as Yelp. You never know someone would be checking for reviews or information and will come across your company.
It is daunting to find the first client, but believe in the process and go with the flow. Trust your instincts, and you will soon have a steady flow of clients.
Wrapping it up, initiating a building or an apartment maintenance service business is a challenging business venture, but it is equally profitable.