Being successful in the pool cleaning business takes more than just purchasing the right cleaning equipment. Before you start, arguably the most important thing you should do is write a thorough and well-thought-out business plan.
This helps you focus clearly on what it is exactly that you want to achieve and do with your business and how you are going to go about it. It forces you to think about all the steps you need to take to reach your goals. Conversely, not having a plan often means you end up directionless, unsure of how to service your customers, how to acquire customers in the first place, and then how to grow your business to secure long-term sustainability and profitability.
If you are unsure about where to start in creating your business plan, here are nine tips to help get you started:
1. Draft the Executive Summary
The executive summary outlines all the essential information about your business on one page. It’s the first thing that any interested party would look at when evaluating your business’s feasibility.
The key is to make it brief so that it provides an overview but be clear enough to explain what it is. Although it comes first in your business plan, it’s usually written last as it kind of summarizes all the other sections of the document. Your executive summary should include:
- A summary of the problem you intend to solve
- A short description of your team
- An outline of your target market
- A description of your product or service
- An overview of your financials and funding requirements
2. Describe Your Company
This is the part where you specify vital information about your business, like your name, the kind of services you offer, and how long you’ve been in business. Other information you may add here includes:
- Business structure
- Physical location
- Management team
- Mission statement
- Target market
Moreover, you may want to indicate what tools, equipment, and/or technology your company has or will adopt in order to operate. An example might be pool service business management software, such as that developed by Jobber.
Being able to consider this level of detail is very important in working out exactly how your business will operate on a day-to-day basis. It may be what gives you a competitive edge over your competitors or define your unique positioning in the market.
3. Present the Market Analysis
The market analysis primarily aims at proving the feasibility of your venture. First and foremost, state your target market by indicating your ideal clients.
You can also provide their demographic stats, including age, gender, and level of income. This gives you a rough idea of the size of your potential market, the cost of your services, and the marketing strategies you should use.
Additionally, you can research the demand for pool cleaning services in your locality and the factors that influence this need. Focus on showing how your services can satisfy the market needs.
4. Describe Your Operational Plan
This is where you’ll outline the activities and targets your company will work towards to achieve your goals. It comprises two sections:
- First, describe how you’re going to achieve your short-term goals, like scheduling workers and collecting payments. For instance, you may want to include the use of free automated pool service invoice template software to ensure you get paid promptly.
- Second, describe your long-term objectives for a defined number of years in the future. Examples here might include when you might consider hiring an employee, the amount of revenue you project to generate by the end of a particular year, or when you expect your business to break even.
5. Do the Competitive Analysis
Here, you need to identify other companies that provide similar pool cleaning services to you. Indicate whether they’re direct or indirect competitors. You can do this by looking into factors like:
- Their strengths and weaknesses
- The kind of services they provide and how they market them
- The cost of their services
- Their business location
- Estimated market share
- Size of the company
- Brand recognition
6. Give Details of Your Team
A strong and bold management team is necessary to prove that your pool cleaning business is capable of handling the types of contracts you want to manage. So, highlight the skills and experiences you want your workers to portray, the number you’ll need, their duties, and how you’ll enroll them.
Additionally, you may need to define your employees’ salary and prove whether or not it’s sustainable, particularly in the early months of working. Remember, you may not have enough contracts at first as you’re just getting started, but you’ll still need to pay your workers and yourself, or just you, if you’re starting out alone in the beginning.
Lastly, you may explain the measures you’ll take to enhance employee retention. This can save you from productivity losses because you’ll have a more engaged team that, in turn, are capable of greater efficiency. Also, diligent workers are more likely to enhance customer relationships.
7. Propose an Effective Marketing Strategy
The next step is to explain how you intend to reach your prospective clients and turn them into loyal customers. Ideally, you should cover the “4 Ps of marketing”. Some digital strategies you’d want to outline include:
- Social media marketing
- Influencer marketing
- Affiliate marketing
- Email marketing
- Content marketing
8. Make Financial Projections
In this section, you should include your five-year financial plan divided into quarterly or monthly for the first year, then yearly. Ensure you have your balance sheet, income, and cash flow statements.
The balance sheet outlines your assets and liabilities, while the income statement shows whether you’re making profits or losses. The cash flow statement will enable you to determine the amount of money you’ll need to start your pool cleaning business. This is also where you’ll indicate your source of capital.
9. Compile the Appendix
This is the last section of your pool cleaning business plan. Here, you incorporate all other supporting documents that make your project persuasive. For instance, you may include:
- Licenses and business permits
- Any contracts you’ve with clients or vendors
- Marketing materials
- Credit history
Writing a pool cleaning business plan won’t be a nerve-racking experience if you know the key elements to include. Follow the above steps, and you’ll surprise yourself with what you can produce and how useful it will be to kickstart your business and ensure that it’s successful.
As they say, failure to plan is planning to fail.