How to start a Valet trash business
At one point or another, you have probably thought about starting your own business. The challenge however comes in when deciding what type of business to start and how to start it. When brainstorming on ideas, most people tend to lean towards ...
At one point or another, you have probably thought about starting your own business. The challenge however comes in when deciding what type of business to start and how to start it. When brainstorming on ideas, most people tend to lean towards common business ideas such as starting a cosmetic or jewelry business. Rarely will you hear someone say they want to start a valet trash business. Imagine that, starting a business that enables you to turn trash into cash. The waste collection industry is huge with many business opportunities available for budding entrepreneurs.
If this sounds like something you would be interested in, follow through to learn what the business is all about and how you can get your valet trash business started.
What is a Valet trash business
If you are not familiar with the term, valet trash service is a collection service that goes door to door picking up trash and disposing it off to waste landfills.
Owning a valet business means you work in partnership with property managers. These are the people who are going to contract your business to pick up trash at their properties be it apartment complexes, individual homes, or in business complexes.
How to start a valet trash business
Find your niche
Every industry that you can think of is crowded therefore, the secret of success to any business, regardless of the industry, is to find your unique area of specialization and be the best at it. This helps customers to choose your services over your competitors.
For instance, when choosing a niche for your valet trash services, you can choose to either provide services for apartment complexes only or you can expand your services to also cater to office buildings, student dorms, etc.
Also on specialization, you can decide to be specific about the trash to recycle be it household trash, electronics, plastics, or even furniture.
Register and fund your business
Once you have figured out your unique selling point, you are now ready to make your business official. The first step is to form a company and have it registered with the Local Secretary of State Office. Necessary permits and licenses will depend on the requirements of your city. With the green light to go ahead with your business, you can now source for funds to kick-start your venture.
Starting a business can be fairly expensive. If you do not already have the required amount, you can source for a loan from a local credit union. For a start-up valet trash business, you will need a few gears to get you started. These include; garbage and recycling bins that you will issue out to your clients. A reliable trash truck. Working gears for your employees such as working gloves, reflector jackets, and masks. Later on, as the business grows, you may need to invest in transportation tools such as dollies, that will ease up the pickup process and more pick up trucks.
Have a plan for your trash
It is no use collecting trash if you do not have a designated place to take it. Trash needs to be disposed of correctly to ensure that the environment remains clean. As such, you must locate a good landfill operator who will receive your trash. Landfills usually charge for all trash disposed of at their site, they mostly charge by the ton.
Pro tip: before disposing of trash off to a landfill, you might want to consider sorting through the trash. You might find a few things that can be sold for recycling. This not only helps you to make extra cash but also helps to save money.
Determine your rates
The cost of a valet trash business can vary from as little as $8 per month to as much as $35 per month. This is all dependent on several factors such as location, type of service being offered, and frequency of service (once, twice, or thrice per week) amongst other factors.
To determine your prices, you need to conduct market research. Find out how much other similar services are charging in your area and also get to know your clients. When starting, you can decide to start on monthly contracts at competitive rates. This will enable clients to test out your services and in the process, you will learn how best to conduct your business going forward. Later on, you can raise your prices and maybe decide to offer additional services to your clients at an added cost.
Marketing your services
It is not always that you find people looking around for valet trash service providers. You, therefore, have to put in a lot of work marketing your services to potential clients. Most people nowadays spend their time on social media therefore you can consider using platforms such as Facebook, Twitter, and Instagram to spread the word about your services.
Another way to market your services is by pitching to property managers, rental firms, and landlords. You can issue out business cards, put up posters, hand out flyers and you can as well as encourage people to spread the word about your services to friends.
Expanding your business
As soon as your business has started to pick, the next thing you should consider is the possibility of expansion. The first step towards this is the consideration to sign up more serious long term clients. This means that there will be more work to be done. You will therefore be required to hire more employees to enable your company to continue offering its services efficiently.
More work also means the need for more resources. With time you will find that you might need to bring in more trash trucks and provide more trash cans. With the right business strategy and commitment, you will be able to successfully run your valet trash business.
Valet trash services are considered essential services. Many people nowadays consider this as one of the best amenities an apartment complex can offer since it ensures the premises are always clean. This, therefore, means that there is a lot of potential in the valet trash industry.
Being able to sign up several complexes with long term valet trash service contracts is a sure way to ensure the growth of your business.