Nearly 850,000 companies providing janitorial/cleaning services are operating today in the U.S., and that number is on the rise. This $61 billion industry serves residential and commercial customers — providing an invaluable service that’s often taken for granted unless something goes awry.
Tasked with ensuring that living and working spaces are clean and in proper working condition, janitorial/cleaning companies make people feel more comfortable — something that’s especially important for businesses. They also help ensure environments are safer by eliminating clutter and potentially dangerous debris.
A Robust Market
For the past five years, the janitorial services industry has recorded an annual growth of almost 2 percent. Standard commercial cleaning services make up the lion’s share of the product offerings, reaping the benefits from rising corporate profits and an increase in office and retail space. Other segments experiencing healthy growth are residential cleaning, hospital and medical office cleaning, exterior window cleaning, floor care services, industrial cleaning and damage restoration cleaning.
The number of businesses in the U.S. positively correlates with demand for janitorial services. Business growth creates a larger potential client base for industry operators, so when the number of businesses strongly increases, demand for cleaning services generally rises. The number of businesses is expected to grow this year and in the foreseeable future, representing a potential opportunity for the industry.
The Need for Funding
With a relatively modest cost to entry, it can be attractive to start a janitorial/cleaning operation, but just like in any other business, there are plenty of roadblocks to success — most dealing with gaining access to funding.
New businesses may need capital to buy equipment and cleaning supplies, train new staff, and buy software or computer systems needed for recordkeeping, payroll, invoicing, and other administrative tasks. Growing businesses may need to buy more equipment and supplies, hire more staff, and open up a new location. Struggling businesses may need a bridge to cover expenses if they’re faced with lagging customer payments.
Two loan types, in particular, are often of interest to owners of janitorial/cleaning businesses:
- Working capital loans — Secure cash to pay for anything that helps you support your ongoing operations — expenses like payroll, taxes, equipment, and supplies.
- Lines of credit — Have access to cash when you need it, so you’re able to take advantage of growth opportunities and get through potential slow times.
Why Clear Skies Capital
Traditional funding sources like banks have lots of hoops to jump through and a lengthy application process that more often than not results in a “no.” At Clear Skies Capital (CSC), we focus on saying “yes,” helping janitorial/cleaning businesses get access to the funds they need instead of being stymied by the challenges presented by traditional financing.
Our streamlined funding process includes very little paperwork, and approval can occur within 24 hours, even for those with less than perfect credit. We offer 24-hour access to funding, flexible terms up to 48 months, and a fixed payment and interest rate — and don’t forget the interest on our loans is tax-deductible. It might sound too good to be true, but it’s not; we’ve been in this business for many years, helping many janitorial/cleaning businesses.
If you own a janitorial/cleaning business, you know it’s important to be able to fund your steady growth and evolve as necessary to stay competitive. Not having access to capital shouldn’t be the reason you remain stagnant. CSC has worked with many janitorial/cleaning businesses, so we’d love to share our expertise while investigating financing alternatives with you. Get started today!