Starting a Cleaning Business in Illinois
If you're interested in starting a cleaning business in Illinois, there are many things working in your favor.3 min read
2. Should You Join a Franchise?
3. How to Buy a Cleaning Business
If you're interested in starting a cleaning business in Illinois, there are many things working in your favor. Service, manufacturing, exports, agriculture, and mining are the top industries in Illinois in terms of employment. According to the 2017 economic forecast, Illinois is growing at a faster pace than other states. It is comprised of many residential communities that average a high household income. Mix those two conditions, along with a booming service industry, and it's clear a house cleaning business is ideal for entrepreneurs.
Reasons to Open Your Own Cleaning Business
- Set your own hours.
- Be your own boss.
- Take on as many clients as you want.
- Ability to expand.
- Ability to join a franchise.
With very little upfront cost and the fact that owners can request their clients to provide the supplies, a cleaning company is often considered one the easiest businesses to start in the service industry.
The option to choose your own hours and your own clientele is equally appealing. When you are your own boss, you have the professional freedom to make the decisions on just about everything related to your company. In a negative light, you may find yourself competing with strong and existing businesses, so you will need a good marketing strategy.
Starting out as a part-time service provider is always an option, which allows you to bring in other income as you work to build your own clientele. Fortunately, an increase in clientele may come fairly easy. Millennials and post-millennials that work and are trying to raise kids and juggle busy schedules play a huge part in the boom seen in the home cleaning service industry.
For the most part, anyone can start a cleaning business. While no special training or educational background is required, it is beneficial to have management experience when opening a new business.
A $46 billion industry already, with a projected growth of 5.5 percent annually, a home cleaning business has the potential to earn high profits for business owners. This isn't surprising, considering we live in a world where workweeks seem to get longer. This leaves many professionals struggling to find time to clean. Even those who don't mind cleaning would rather spend their free time enjoying their home.
Many times, we say time is the one thing in life that can't be bought. However, when it comes to cleaning, homeowners can hire a cleaning service to make their lives easier. You will make good money as a home cleaning service provider because people are willing to pay top dollar to have their homes cleaned for them.
For those entering the home cleaning business, you will need to determine if you will provide residential or commercial cleaning services, or both. After choosing the clientele you will offer your services to, the next step will be to market your business through advertisements. Gather as many contacts as possible through your existing network of friends and family.
Should You Join a Franchise?
Starting any business from the ground up requires innovation and creation. If you find yourself wanting to offer unique services, starting as a new company is probably your best option instead of joining a franchise. On the other hand, for those who do not want to spend the time building a new cleaning business, purchasing an established company/franchise has many advantages.
A well-established business provides immediate cash flow to the new owner. A franchise with a reputable name will provide instant brand awareness as well.
How to Buy a Cleaning Business
Be aware that many existing businesses that are looking to sell have an extremely high asking price. As in buying a car, the price is usually negotiable. With a bigger purchase price, most often seen with a well-established franchise, it is common to enter into a purchase agreement.
Most purchase agreements involve a down payment with the balance to be financed over a set period of time. This could be months or years, depending on the purchase price and the agreement the parties enter into. This is beneficial to the new owner and allows the business to be paid for as it generates revenue.
If you need help with starting a cleaning business in Illinois, you can post your legal need on UpCounsel's marketplace. UpCounsel accepts only the top 5 percent of lawyers to its site. Lawyers on UpCounsel come from law schools such as Harvard Law and Yale Law and average 14 years of legal experience, including work with or on behalf of companies like Google, Menlo Ventures, and Airbnb.