Quickly spending your capital.
November 24th, 2009
Quickly spending your capital. Most business owners will underestimate the amount of money they need to get their business up and running. Your janitorial business needs more than just cleaning equipment and supplies. You’ll need office supplies, phone services, vehicles (or money for mileage expenses), uniforms, marketing materials (brochures, business cards, etc.), insurance, and professionals (lawyer, accountant) to get your business off on the right foot. As a commercial cleaning service, you will most likely bill at the end of the month and on top of that, some customers may drag their feet when paying their invoice. That means that you’ll be providing cleaning services well before you receive any payment so you need to have cash on hand to pay the bills. Develop a personal and business budget that can sustain your company and then add at least 50 percent to cover unforeseen expenses.
Entry Filed under: Business