The biggest concern any aspiring business owner or a gig worker has is the amount of money they can earn. This is one of the key factors that determine the suitability of moving forward with that particular career path. We recognize that and hence we are going to thoroughly discuss the income your cleaning business can possibly generate.
Estimated Income If You Are an Individual Cleaning Professional or Sole Proprietor
The average hourly rate for a cleaning gig ranges from $25 to $40 and you can expect a 30-hour week. Based on these numbers you can expect an annual income of $30,000 to $50,000 if you are a sole proprietor or an individual cleaning professional. It is to be noted that this is your income before taxes. These are to be paid and any expenses might be deducted as well. This estimate can significantly increase if you work really hard and do aggressive marketing to secure new clients or gigs.
Estimated Income If You Run a Small Cleaning Service Business
If you manage to secure a significant number of clients then it is now time to expand and transition from a Sole Proprietor to a Small Business Owner. You can start off by hiring some cleaning professionals and constantly looking for new ways to get more clients. Hiring some employees may seem like an expense but you will see the benefit in it when you will look at the opportunity cost it will save in terms of the more free time you now have to close more clients.
Having more human resource means that your business can now have more work and you can bill more hours. So you can roughly expect an annual income from $50,000 to $70,000. You can further increase this number by having multiple crews of cleaning professionals. This will allow you to simultaneously address different cleaning projects and hence significantly increase your projected revenue.
Estimated Income If You Run a Large Cleaning Service Business
Once your business attains enough credibility, corporate and commercial clients might start reaching out to you. Since commercial buildings are much larger than residential buildings, the frequency of cleaning is higher. Once you start getting corporate clients, it is now time to further scale your business. You should now focus on hiring more cleaning professionals and branding your business. You should also consider repositioning your business to be solely targeted at commercial cleaning contracts because you will have to secure fewer corporate clients in comparison to residential clients to sustain your business in the long run.
Typically, a cleaning contract for a corporate building of 2-3 floors once every week usually goes for $1000-1500 per month. Based on these rates, you can expect an annual income of over $100,000. You need to make sure you consistently secure new corporate clients and retain old ones. This number can significantly increase if more of your cleaning contracts come from larger buildings with 5 or more floors. You should note that large businesses are taxed a bit differently. You have to factor in different expenses such as cost of acquiring per customer, scheduling software, employee pays, client relations initiatives, etc. These are ongoing part of running a large business. So how you manage this taxation and new expenses will also significantly impact the amount you get to take home.
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