Starting an apartment building maintenance business can be quite rewarding. The average annual revenue stands at approximately $100,000. However, the exact figure depends upon the number of sales you are able to close on.
As for what an apartment building maintenance business does, it takes care of the repairs within apartment buildings. There are some buildings that employ their own maintenance workers, but sometimes it is best to hire a firm, especially when the building is large or the owner owns multiple apartment complexes. This is the ideal profession for someone who likes to fix things and who has hands-on experience performing building maintenance.
Where to Begin
If you feel you need more experience, you can apprentice under another building maintenance business. You can also choose to work as an assistant to a building maintenance worker if you prefer. If you already possess the experience, you will need a van in order to carry all of your tools and equipment. If you do not already have the money to do so, you will most likely need to finance one.
You do not need a storefront like some businesses. You can use your home telephone or your cellular phone number as your method of contact. You may also wish to have a website created that will allow potential customers to review your services, track record, and to contact you via email or a contact form. In the meantime, you will need to actively market what you can do.
Purchases
The average cost to start an apartment building maintenance business is $25,000 to $50,000. The reason for the high cost is due to the van and the equipment that is required. If you do not have the money lying around in a bank account or in a safe, you will need to seek out a bank loan by presenting the bank with a business plan that highlights what you will be accomplishing, a breakdown of the cost of starting the business, and how they will receive their money. If you are unable to acquire the bank loan or you cannot secure the amount you need, you may wish to involve friends and family as investors in the business and reassure them that there will be a return on their investments within a specific period of time. Be sure to not promise them a few months because it can take a year to two years for your business to see a profit high enough to pay them back.
Market Your Skills
That first building owner is not going to be acquired unless you let them know you are available. You can do this through the following marketing activities:
- Advertise in telephone books, newspapers, and local magazines
- Directly contact apartment building owners and property managers
- Talk to other building maintenance professionals
- Send direct mail to building owners and property managers.
- Utilize free tools on the Internet, such as social networking
In your advertising, ensure that you tell potential customers that, while your business is not large, the personalized touch that you give your clients means that you are detail-oriented and will do a good job. When you fulfill your promises, then you will retain these building owners and property managers as clients and they will even tell their friends. There is no marketing more powerful than word-of-mouth marketing. At $200 to $500 per month per building for typical maintenance, you can make a great living with this profession.
Tips
You do want to ensure that you are properly insured so that you are not paying for mistakes out of your pocket. Paying for mistakes out of your pocket can sink you fast financially. You will also want to keep a handle on how fast your business grows. Growth is good, but growing too quickly can result in you being too overwhelmed and not able to fulfill promises. If you find that you cannot handle another job and there are prospects, hiring someone may suffice. Once the workload exceeds what you can do, you can most likely afford to hire an employee.
