Starting a pressure washing company is a good idea if you have everything carefully planned. If you have only just come up with the idea, the chances are that you are interested in a breakdown of the costs involved. To help you understand how to financially prepare for a successful pressure washing business, this article looks into the cost of starting up your business as well as the steps required to get your business off the ground.
Cost of Pressure Washer
To start a pressure washing business, the first thing that comes to mind is the pressure washer cost. A pressure washer is one of the most important pieces of equipment needed to get your business up and running.
Pressure washers are available in different sizes and specifications. As a start-up business, a basic-level commercial pressure washer can cost you about $1,000 or more. If you are interested in starting on a high note, you may choose to invest in a high-end commercial pressure washer with at least $00.
Truck or Van
As a pressure washing business, you’ll rely on mobility to meet your customer’s needs. Mobility requires your business to have a truck or van. Whether you are buying a pre-owned or new vehicle for your business, you’ll require capital. A van or truck for your pressure washing business can cost anywhere between $20,000 and $40,000. The overall cost of your purchase will depend on the state of the vehicle and its features. If you choose to invest in advertising, you may spend anywhere between $300 and $1,000 to get vehicle wraps done.
Various Other Equipment
Your pressure washing business cannot thrive only on a van and a pressure washer. You need various other equipment to get the job done. Some of the other purchases you’ll make include nozzles, high-pressure water hoses, cleaning agents and chemicals, and more. The cost of these items depends on the quantity you are purchasing. The overall cost may easily amount to between $200 and $1,500.
A business without proper advertisement is losing out on potential customers and hurting its revenue. As a new business, you rely on adverts to get the word out about your business. Advertisements may be the source of your first set of clients. Advertising can be through signs and signage, vehicle wraps, billboards, and more. Depending on your budget, you may also take your business online via paid ads and sponsored social media posts. Advertising costs can easily run between $100 and $10,000 or more.
Business Setup Expenses
Now that you have the essentials in place, you also need to consider the cost of setting up your business. Your business requires an office where you will store your van and equipment. The office will also require phones and relevant electronic gadgets for invoicing, attending to business inquiries, and more. You will also be required to pay for business liability insurance when an accident happens on the job. Registering and filing to set up a corporation or a limited liability company also requires certain fees. All of these can easily cost you between $4,000 and $10,000, depending on your taste and choices.
After getting the idea of how much the entire business setup will cost, you can decide what next. If you choose to go ahead with the plan, you need a checklist. Below is a list to help you put your pressure washing business together.
Plan Your Business
The first step is to plan your business by researching the industry. Having understood the cost implications of starting a business like this, you also need to decide who your target market is. Based on this, you can choose how to operate your business and where to locate it. The choice of your business location can affect sales. You should also decide on the name that works best for your business. While choosing a business name, be sure to check with appropriate authorities to ensure that the business name hasn’t already been registered. You should also formulate a pricing strategy based on the average market price for the same service.
Register Your Business
Speak to a lawyer or research into the types of business entities and what each one offers you in terms of growth and expansion. Choose between a corporation, sole proprietorship, limited liability company, or a partnership.
Register for Taxes and Open a Business Account
As a business and individual, your taxes are important. Register for taxes to take advantage of tax rebates and other perks. You will be issued an EIN upon registration. Your EIN will be required as part of the business account registration process. Opening a business bank account will help you to monitor your finances better.
Obtain Necessary Permits and Licenses
Your business requires proper state and local licenses and permits to operate. Ask to know what is needed and the steps involved at your local government offices.