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Archive for category: Starting a Business

Is it Worth Starting a Cleaning Company?

Blog, Starting a Business

Is it Worth Starting a Cleaning Company?

by Simplice Essou, CPA | August 2, 2022

Do you love looking around and seeing everything clean and sparkly? Do you love making a difference in someone’s life by providing them with a clean home? If this is you, then, a cleaning business might be for you.

Startup costs are relatively low and therefore it is relatively easy to get started.

Is a cleaning business profitable?

According to an article published by Cleaning Business Boss, the average one-person cleaning business has revenue between $30,000 and $50,000 per year. The revenue can vary depending on the following:

  • whether you offer commercial or residential cleaning
  • how much you charge for your services
  • whether you have employees or not
  • whether you offer specialty services such as green cleaning, COVID cleaning, carpet cleaning

While ZipRecruiter is seeing annual salaries as high as $138,000 and as low as $17,000, the majority of cleaning business owner salaries currently ranges between $27,000 (25th percentile) to $65,000 (75th percentile) with top earners (90th percentile) making $109,500 annually across the United States.

How much can cleaners make?

The average pay rate for a cleaner in the US is $12.58 per hour. The rates vary widely depending on the experience level and the average pay rate of the state. According to Indeed.com, the average rate in Florida is $14.62. So, as a business owner you should be looking at paying at least $14.62 per hour to attract workers. Please keep in mind that the competition for good labor being tight, you may have to pay more than the average pay rate.

How much can a residential cleaning company make?

Let’s look at the following example of a cleaning business that cleans five homes each week, charging a flat rate of $150–$500 per home. The cleaning business could earn $39,000–52,000 in a year before deductions and taxes.

The business can make more if they can charge a higher rate, offer additional services such as carpet cleaning, COVID-19 cleaning protocols, take on more jobs during the day and have more cleaners on the team. The more experienced the team members are, the more the business can charge for residential cleaning services.

Commercial cleaning companies

Commercial cleaning companies often charge per square foot. The national average rate as of 2020 was .11 cents per square foot, according to PriceItHere. So on a 5000-square-foot facility, the commercial cleaning business could earn $550 per visit.

How much profit can a cleaning company make?

Let’s assume a cleaning company charges a flat rate of $250 for a cleaning job. If 60% of that amount covers its labor, overhead, insurance, and cleaning equipment costs, the business’ profit margin is 40%, or $100.

So is a cleaning business profitable? Definitely! The business needs to charge the right rate and offer the right mix of services. To be successful the business owner needs to keep the following important considerations in mind:

  • Industry experience
  • Identifying the target market
  • Determining the service area
  • Marketing and branding efforts
  • Friendly, professional team
  • The right equipment.

Author

Simplice Essou

Simplice Essou, CPA

Certification Consultants, Consultants, Essou, Tampa

Florida SBDC at USF
Specialty: Accounting, Business Planning, Financial Management, Startup

Simplice Essou joined the Florida SBDC at University of South Florida in March 2020 as a business consultant, bringing almost two decades of experience in accounting, finance and entrepreneurship. Essou started and managed an international consulting firm in 2008, specializing in advising African government on issues related to small-to-medium-enterprise development. Previously, he has worked for large corporations, including Bank of America, BP-Amoco, General Electric, and Lehman Brothers. These roles gave him a wide breadth of experience, including the ability to handle forecasting, analyze revenue entries, actively communicate account receivable risks, and lead day-to-day analysis and reporting for credit losses. He earned an MBA in finance from the Wharton School at University of Pennsylvania and a bachelor’s in accounting from the University of Southern Mississippi.

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Can Starting a Business Help with My Taxes?

Blog, Starting a Business

by Simplice Essou, CPA | July 29, 2022 Starting a business can be an exciting endeavor. However, a lot of planning and preparation is needed before launching it. One of the issues the business owner needs to keep in mind is the tax implications of starting a business. Most people considering starting a business often […]

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Why is Starting a Business So Hard?

Blog, SBDC News, Starting a Business

by Kurt Forster | May 24, 2022 There is a public notion that starting a business is very hard. And there are a variety of common sayings used to reinforce that idea. You may have heard such things as, “It takes money to make money,” and “It’s not what you know, but who you know,” […]

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When Starting a Business, What Comes First?

Blog, Business Plans, Buying a Business, SBDC News, Starting a Business

by Kurt Forster | April 29, 2022 The question of what to do first when starting a business comes up a lot when aspiring business owners first contact the Florida Small Business Development Center. In most cases, new entrepreneurs already have a good business idea, some potential customers, plenty of planning – at least in […]

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Grand Opening Basics

Blog, Featured News, SBDC News, Starting a Business

by Debra Schweikowsky | February 18, 2020 Opening a business is not something that happens overnight. It takes a lot of thought, commitment and perseverance. Because of this dedication, for many business owners, opening a business is like having a child or another spouse. After putting in all of the time and effort to open […]

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Jumping the Hurdles of Obtaining a Business Loan

Blog, Featured News, Finance, Starting a Business

by Brad Owens | June 6, 2019 No matter how successful a business may be, there are many business owners who find themselves in situations where they need to obtain a business loan in order to take their business to the next level. Whether it’s going from renting to owning the business property or maybe […]

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Starting your Food Business: Execution, Consistency and Growth

Blog, Featured News, Starting a Business

by Kyle King | November 20, 2018 As we have discussed the research that goes into establishing your piece of the market, and the considerations in knowing your numbers along with how to manage them, it is time to determine how you and your team plan to execute service in your business. As you have […]

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Starting Your Restaurant: Know the Numbers and Manage Them

Blog, Featured News, Starting a Business

by Kyle King | November 20, 2018 Most entrepreneurs that are looking for their start in the food service have worked in the industry at some point in various positions. The food service industry is notorious for a lack of education in financial and operational skills needed to properly manage the numbers. This is but […]

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Starting Your Restaurant: Do the Research

Blog, Featured News, Starting a Business

by Kyle King | November 20, 2018 With the food industry being as vast as it is varied in terms of offerings and potential, it is crucial that you do your due diligence before you launch your brand. Passion for food is traditionally a key component of food service owners/operators. Passion is often the enemy […]

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6 Questions to Consider Before Selecting an Entity for Your Business

Blog, Featured News, SBDC News, Starting a Business

by Mitch Lairmore | August 17, 2018 One of the decisions new entrepreneurs need to make is the legal structure for their business. Of course, this is something that requires guidance from your attorney and accountant because every situation is unique. However, before you talk to your service providers, it is helpful to consider some […]

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