Expanded Business

[topnotchman]

If you were GIVEN, $13,000 for your business only, what would you do with it? Get into water damage? Expand your water damage service with more equipment, marketing, etc? Ramp up more carpet cleaning with more advertising, possibly adding an employee or more? Goto more training, seminars, etc? get a small place to clean area rugs with equipment purchased?

I've been given a great opportunity and I'm overwhelmed what to do!

 

[sweendogg]

Unfortunatley that amount though a good lump sum, can be spent very quickly with out any real benefit to the business.

I'd ask yourself a few questions to help focus your goals:

How is my business doing now?

How effective is my Marketing?

How could I improve the services I offer now?

Am I carrying any excessive debt that could be paid off?

Where do I want my business to be in five year? 10 years?

Just a few thoughts!

 

[Doug Cox]

Without knowing how your business is doing currently, your question is somewhat hard to answer.

 

[rhino1]

If I weren't booked up I would spend 3K to 4K on some additional marketing/advertising. I don't know about your area, but here that much money goes a long way. The rest I would save for hard times/emergencies. Winter is only 10 months away.

 

[Johnny]

http://www.bmwmotorcycles.com

 

[KevinL]

It's hard to say what would be best for you. I'm not even sure what I would do. I just commented to the wife today about a building we saw. It would make a nice rug shop but after hearing Mikey's woes with the rug shop I think I'd spend the dollars on marketing water damage and some extra equipment for it.

 

[hogjowl]

I assume that you mean you can't use it to pay off personal debt, which is a very important thing to do. If you have to spend it on your business only, and by that you mean you can't pay off your business debt either, but that you have to spend it on equipment, advertising and such, I would concentrate on the business management and marketing portion of my business.

1) Do you have the equipment and programs in place to keep track of your numbers? I mean accounting and customer information and statistics. You can't run a business properly if you are unable to keep track of your money, expenses and your customers.

2) Do you have the programs in place to keep in contact with your customers? Thankyou cards, and reminders, newsletters, etc. are very important.

3) Do you have advertising plans in place and have you emplemented them?

In my opinion, start with number one and then take them in order.

 

[dealtimeman]

marty brings up a very good point. if you have any debt use it on that first. it is way easier on yourself when you have no debt.

 

[topnotchman]

Yeah should have been a little more clear. Yes Marty does make good points.

It can only be used for things to better the business, not just cash to pay down the van payment or truckmount, etc etc. It can be used for anything for the business. I'm thinking about expanding the water damage side, with way more marketing (ie. More Floods), and more equipment. Also a couple more things for the carpet cleaning business side, but I"m still thinking! hmmm

 

[The Preacher]

Read Ivan Turner's post on ICS about how to market yourself as a nonfranchised restoration biz.

as a matter of fact, contact Ivan and Show Me Marketing. i've never been a restorer, but Ivan seems to be on target and he's a great guy to gleen from.

 

[Brian R]

Use it in marketing.


Edit: What's your website look like? Logo? Image? Who knows who you are?
You can't build a better business without customers and a good image.
Get your name out there once it's worth getting out there.
If you buy a peice of equipment I will have Bill Yeadon pistol whip you.


PS. I don't know whether or not you have a great image ect.
I'm just sayin.

 

[RickL]

Get Harper to give me a TM and Van and Trade it in with the extra $13k get a killer TM with all the Accessories!!(jk this was low)

 

[rick imby]

It all depends on where you are now.

Have you already invested in your knowledge?

Have you been to one of the educational seminars? SFS? Parakeet? oops I mean Partridge? Fisheater? oops I mean Pirhana?


Have you gotten a 5 year business plan together? (I know the answer to this because you are asking this question.)

I would have no interest in going into restoration from carpet cleaning because I have no desire to be on call all 24/7 no matter how much money it makes. My 2 cents.

I also would have no interest in setting up a rug depot because one of the greatest joys of cleaning carpets is getting away and not being tethered to a retail location. another 2 cents.

If you decide to spend the money to buy out one of your competitors make sure they are not the Sharp Shepard and come back to your market when the time is up and uses the mailing list that he sold you.

Where do you see yourself in five years and what area of your business needs the capital that will get you there quicker.
All the basic business plan questions come up--what do you want to do, where do you see yourself in 5 years, 10 years etc.

Don't spend the money until you get your future roughed out.

Good Luck,
Rick

 

[Bjorn]

I can buy a ton of lottery tickets with that money

 

[renegade_cowboy]

You can take me to The Waffle House for some waffles. You know how many waffles you can buy with that money. Then after we eat some waffles and have a full belly only then can you truly decide what to do with the rest of the money. Maybe even buy some more waffles or flapjacks.

 

[ACE]

I was in a similar situation not too long ago. I had 35K to spend but I have to pay it back. There are some great deals to be had on used equipment right now. If you put the money into marketing make sure it’s something that has some shelf life (not a huge direct mailing campaign or YP ad that you can’t afford to do again). A good web site that you can easily update like mikey’s wordpress site might be a good investment.

 

[Aaron Richards]

My first choice would be to attend SFS as I haven't been yet. Then I would spend some on marketing and maybe a wrap for the ol' van. If at all possible I'd sneak in a new fishin pole, too!

 

[topnotchman]

Thanks for the input guys. I'd like to do more marketing for carpet cleaning. I could do a lot of ways with it, but trying to figure out the best way to spend the money so it brings back the money I'm spending on it, and allows my business to grow. Its actually quite hard to figure out what to do with this amount of money that I dont have to pay back, to use it wisely, and get the most out of it.

 

[Brian R]

Thanks for the input guys. I'd like to do more marketing for carpet cleaning. I could do a lot of ways with it, but trying to figure out the best way to spend the money so it brings back the money I'm spending on it, and allows my business to grow. Its actually quite hard to figure out what to do with this amount of money that I dont have to pay back, to use it wisely, and get the most out of it.

Do you have a website? We would like to see it.

 

[topnotchman]

www.topnotchcarpetcleaning.com



guess i should add it to my profile might be a good idea!

 

[tmdry]

http://www.topnotchcarpetcleaning.com



guess i should add it to my profile might be a good idea!

Contact Mark and Andrechelle and say you want to get as much business as Mikey.

 

[XTREME1]

SEO and some advertising an up front payment to full circle for about a year(unless you have another way of answerring your phones and concentrate on business

 

[Brian R]

http://www.topnotchcarpetcleaning.com



guess i should add it to my profile might be a good idea!

Wow! Really cool website...but who are you selling to?
Dude, I don't think Suzy homeowner will hang out at that site very long.
Maybe if you were selling something else...but not carpet cleaning.
Too much going on, way too dark and nothing to catch the eye of someone needing their carpet cleaned.
Again, really cool site but I would think a little more like a housewife (I can feel the digs) than a web designer when it comes to advertising carpet cleaning.

 

[Lee Stockwell]

How much will it cost you for me to click on it?

I hurt some slaw guy's feeling by clicking on his...

 

[Steve Toburen]

I'd listen to Aaron if I were you, Jared. Even though I wouldn't pay the 695.00 SFS registration fee.

My first choice would be to attend SFS as I haven't been yet. Then I would spend some on marketing and maybe a wrap for the ol' van. If at all possible I'd sneak in a new fishin pole, too!

Instead (if I could avoid a pistol whipping from Brian and/or Yeadon) I would look for 5,000.00 in equipment that would let me profitably diversify. (Maybe either a Cimex for 2,500 feet per hour commercial encapsulation or tile and grout tool, maybe both!) Either way investing this 5K in things that will return their cost many times over would qualify me for a free admission to SFS which means I'm getting an effective 15% discount up front.

What to do with the other 8K? I'd say Aaron is right on with investing in a van wrap and a quality website and SEO. This is the quickest and cheapest long term marketing out there. You'll also need a few bucks for lodging and meals at your SFS even though Papa Nick picks up the tab for most of the meals.

Combine your new production/profit capability with your new equipment, the additional long term advertising of the wrap and website and the new concepts and Business Infrastructure you bring back from SFS and I'd say you're good to go.

Steve "Island Boy" Toburen
http://www.StrategiesForSuccess.com

PS Now that new Cimex and T & G tool (both of which excel in commercial work) won't do anything except take up space in your living room unless you get out there and actually SELL SOME LONG TERM CONTRACTS. how ya gonna do this? Well, you need to "invest" three minutes to download this "How to Sell Commercial Work" report here: http://www.strategiesforsuccess.com/755 ... commercial I'm almost (but not quite) envious of your new start! Let us know what you decide and how you are doing.

 

[topnotchman]

Yeah good points Steve. Even though I attended SFS last year in Portland, I might just go again for a refresher, and help keep me focused!

I'd listen to Aaron if I were you, Jared. Even though I wouldn't pay the 695.00 SFS registration fee.

http://www.StrategiesForSuccess.com[/url]

PS Now that new Cimex and T & G tool (both of which excel in commercial work) won't do anything except take up space in your living room unless you get out there and actually SELL SOME LONG TERM CONTRACTS. how ya gonna do this? Well, you need to "invest" three minutes to download this "How to Sell Commercial Work" report here: http://www.strategiesforsuccess.com/755 ... commercial I'm almost (but not quite) envious of your new start! Let us know what you decide and how you are doing.[/quote:14bujuto]

 

[Steve Toburen]

You know, Jared, every single SFS member that comes back (even Chavez) tells me they learn more and implement much more when they return from their second SFS. (Of course, Mikey has never put this theory to the test.)

Seattle is on for August 16-20 and Yeadon has already said he is springing for the micro-brews for all returning SFS members. Remember that Seattle's meeting room is even smaller than Portlands and we sold out early in 2008 at the Seattle SFS.

Island Boy
www.StrategiesForSuccess.com

PS Think seriously about the Cimex encapsulation route, Jared. The beauty of this is you build a route and then hire part timers to run it. Properly sold (read the report) you should easily be grossing 150.00 to 200.00 per hour so you can afford to pay some quality help very well. I think I would limit my people to two or three shifts per week of 5 hours per night. Right now with the economy a lot of great people would LOVE to have 200.00-300.00 per week coming in for part time work and they would treasure the job.

 

[Dolly Llama]

Yeah good points Steve. Even though I attended SFS last year in Portland, I might just go again for a refresher, and help keep me focused!

no offense intended, I promise, but if you haven't implemented the valuable parts already..and STAYED with it, spending another 700 bones plus expenses isn't going to do you a damn bit of good.

it would be like buying another identical treadmill because the first one you bought last year wasn't working or you weren't motivated enough to use it




..L.T.A.

 

[hogjowl]

I don't see SFS suddenly making your business successful. I think it just helps you manage a successful business.

 

[Bjorn]

"Aaron Steinblock who is coming back for his 8th or 9th time! I lose track! If I didn't know better I would think Aaron was angling for my job. You aren't are you, Aaron? (I think he could teach SFS pretty well"