Well established for twenty years with many long term customers. The company has been resilient regardless of the economy. Well fragmented customer concentration with the largest customer only accounting for less than 10% of revenue. Large amount of government and private contracts with all AR collected in less than 45 days every month. Predictable business which is relocatable and easy to grow. Reduction in revenue was due to the removal of several accounts that were losing money.
Per First Research Reports, "Industry Growth Rating (IDR) is high and is expected to remain in high demand beyond 2023."
Per IBIS World, "The Janitorial Services industry will grow over the five years to 2024 due to the continued expansion and growth of the US economy."
"Businesses always need a clean office to operate from" (BRG).
Main office is located in a professional office building. Business was home based for many years and could be run as such.
Current owner has not been able to invest enough time towards gathering new work. A dedicated owner can easily add more work by simply knocking on doors. Additional advertising or using social media would help greatly in promoting the business. There is no social media being leveraged at this time.
Competition is high since the barrier to entry is low, although most startups won't invest in the floor equipment. Since floor work is usually part of janitorial duties, this company can keep more business under it's roof. Being a government contractor gives the Company another competitive edge. Good business practices and responsiveness with customers is another way this company sets itself apart from the competition.
Owners second business demands more attention.
Will train for 4 weeks @ no cost No licenses needed. Management and business acumen, staff performs all cleaning.