Is a Cleaning Business Profitable in 2022?
Starting your own business can be a dream come true for entrepreneurs. The idea of being your own boss is very appealing to first-time business owners, but starting a business from the bottom up can be a daunting task. Starting a business is anything but simple, from the research and planning phases to the startup and loan processes.
The success of a new business is greatly dependent on profitability, and profitability is dependent on the type of industry you plan on entering. It’s critical to find a market that benefits from your business or where demand exists. For example, one of the most in-demand businesses right now is the commercial cleaning business. With the end of Covid-19 nowhere in sight, more and more business owners and industrial facilities are looking to professional commercial cleaning services for proper disinfection and sanitation. So, the question for entrepreneurs remains, is a cleaning business profitable in 2022? And if so, is there an opportunity for growth?
So whether you want to open your own business or franchise with an established name, we will review all of the reasons why an entrepreneur might consider a cleaning business.
Demand For Cleaning Businesses is High in 2022
Unless you are currently a business owner or are in the cleaning industry, you may not realize how high the demand for cleaning services is. Now more than ever, businesses require a clean, healthy, and safe environment for patrons and employees. And vice versa, employees and patrons need and expect a place of business or work to be appropriately cleaned and disinfected.
According to the Small Business Development Center Network(SBDCNet), the commercial cleaning industry brings in over 46 billion dollars annually– it’s expected to reach $74 billion by the end of 2022. The increase reflects the high demand for cleaning services in today’s society as we continue to fight Covid-19 and other illness-causing germs and bacteria. The demand for commercial and residential cleaning services will only continue to grow with each passing year.
Commercial Cleaning Offers Opportunity For Growth
Another significant factor to consider before starting any business is growth opportunity. In order to increase profitability, an entrepreneur must choose a business that has the potential to expand and grow. As demand increases for both commercial and residential cleaning services, growth opportunities will present themselves for business owners. Even cleaning businesses with established clients have the opportunity to book new clients. As more clients book services and business owners hire more employees, they can take on more business contracts and eventually expand their business.
Franchise Business Owner Vs. Independent Business Owner
So once you have made the decision to go ahead with your cleaning business, you must decide whether or not you want to start your own business from the ground up or whether you would like to open a company with an established brand as a franchise owner. There are pros and cons to both, and the right choice will depend on how you want to run your business.
Owning your own business gives you the freedom to choose your business name, slogans, products, supplies, and marketing strategies. However, it also comes with no instruction or guidance–this can be a good or bad thing depending on your expertise and level of experience.
However, franchising is often used as a cost-effective growth strategy for businesses. Here are some of the advantages of becoming a franchised business owner:
- No cleaning or business experience required
- Franchise saves on marketing and branding costs
- The potential to earn profits sooner
- Companies offer guidance and support to franchise owners
So, is a cleaning business profitable in 2022 and in the coming years? Yes! Although there are so many other factors that go into the profitability of a business, the potential for having a successful cleaning business is excellent.
Coverall is a trusted brand that has helped more than 8,000 people become business owners. When you invest in a Coverall commercial cleaning franchise business, you are instantly part of a respected company providing an in-demand service that businesses need more than ever. If you are interested in learning more about franchising with Coverall, contact us today for more information.