Though the long-term market for cleaning services is reliable, the business of providing them is rife with pitfalls like high overhead, fluctuating demand and drawn-out payment timelines. Servpro is the independent Twin Ports location of a national franchise offering cleaning services – from carpet cleaning and pet-stain remediation to biohazard and post-disaster cleanup. In the early years of the business, sufficient demand for growth was present, but realizing that growth was proving difficult.
How can an emerging business overcome the hurdles of operational complexity and high overhead to achieve growth?
Creative financing and ongoing strategic advisory services from the Entrepreneur Fund gave Servpro the capacity to:
- Invest in facility improvements to reduce operational costs in the long term
by increasing energy efficiency
- Streamline financial management
- Initiate the purchase of a building, thus expanding capacity and adding an asset
Servpro has achieved 25% annual sales growth and is working on new initiatives to expand their market presence and geographic reach.
We can issue loans up to $250k, with more flexible lending requirements and usage terms than those offered by a traditional bank.