Easy start up. Unlike many businesses, you don’t need much equipment or industry to start this business. Maybe a few cleaning supplies will do the job and you can invest in more or different types of cleaning equipment as you go, rather then setting up and finding out what you do and don’t need.
Low investment cost. Along with easy start up, there is very little money that you need to invest in the business to start. You won’t need to purchase a state license, in most case, and can operate from the back of your car. You also only have to spend money on equipment and supplies when you do the work, so you don’t have to involve yourself in “speculative spending”.
A valuable service. Cleaning services are widely used. Both business and homes may use these services to save time. Many individuals that use these services may also be incapable of doing the work themselves, such as the elderly or the disabled, which makes this a irreplaceable service for some.
Steady work. If you are able to obtain either commercial or residential cleaning contracts, you are able to obtain steady work and often can provide a reasonable income with only a few contracts. As cleaning is something that is done periodically, you can see a steady flow of work.
CONS
Highly competitive. During these economic times, many people are seeking to start their own business. Many decide to go into the cleaning industry because it does not require that many start-up costs. This can saturate the market and provide very few open opportunities.
Liability. As a service that requires you to go into others’ homes, you may run into the issue of liability and insurance. This can increase the costs of your business.
Relatively low demand. This is one of those services that many people often do not require because they can do it themselves. You may yourself having to aggressively advertise or promote your business more so than usual just to get a few calls. It is very difficult to convince people to use services they feel they don’t need. Also, customers may only be willing to use your services at a charge that wouldn’t make you much money.
Transportation and other extraneous costs. As stated earlier, you may have trouble providing your services at your intended price, because of the low demand. Even still, you will have transportation costs for driving to the customer as well as heavy advertising costs. This may result in an unprofitable business.
Starting a cleaning business can be relatively risky because of the low demand. You may have costs that may not cover you if you have to charge low prices in order to get business. However, this is also a relatively low start-up business and can be done on a very low budget. So if you are willing to make the advertising, promotional and financial commitments, it may be worth it.