Seminar Recording: Zero Cost Advertising

LOW PROFIT MARGINS IN CLEANING

REQUIRE FREE ADVERTISING

WE ARE BLESSED THERE ARE LOTS OF OPPORTUNITIES IN THE CLEANING SERVICES FOR FREE ADVERTISING

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KEY FACTOR:

Profit margins are low in all industries, but especially the service industries. This challenge requires us to be very clever and bottom line conscience when reaching our base of prospects 17 times (always remember the 17 rule). There simply is not enough net profit to spend all of the money you would need to spend on advertising to bring your company past the $1M gross revenue level consistently, year in and year out. There is a small list of average profit margins per industry listed below. Many owners are unrealistic when it comes to what they think their profit margin benchmark is. It is important that you are realistic about what you can make in this industry. If you want to make more than $100,000 per year you will need to think in terms of $1M gross revenue per year and more.

ACTION ITEM:

Networking, free cleanings and building community relationships are the key to growth and making money in this industry. If you can keep your marketing costs low you will increase your profit margin. We are so fortunate to offer a service that everyone wants. When you give away a free cleaning at a silent auction you will probably have one of the few items that will pull full value. The only cost to you is your labor cost. Pretty cheap advertising cost to quality reach 200 or more people at one time. They see your company as a community sponsor company. They trust you or you wouldn’t be allowed to participate in a silent auction. They will trust you in their homes.

IMPLEMENTATION PROCESS:

Offer a free cleaning for every major event in your community that has a silent auction with at least 200+ attendees. Become involved in your local chamber and join an organization with upper middle class members who can afford your services. Don’t just join it but become involved in it. Learn how to network effectively. Watch our video on Zero Cost Advertising and learn how to get virtually free advertising for your cleaning service. Pick out a couple of ideas and then IMPLEMENT THEM.

PROFIT MARGINS:
Health Care Facilities 24.6%
Application Software 22.7%
Information Services 17.8%
Personal Products 12.3%
PERSONAL SERVICES 10%
Healthcare Info Svc 9.3%
Airlines 9.2%
Restaurants 7.5%
Cleaning Products 7.1%
Businesses Services 5.5%
Hospitals 3.6%
Home Furnishing Store 3.3%

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