How to Start Your Own Valet Trash Business
Looking for information regarding valet trash business plan, or how to start your own valet trash business? You are at the right place. Keep on scrolling down to learn more about some tips you can put to use while building your own valet trash business plan and could smoothly start your own valet trash business.
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Let us first begin by understanding what is a valet trash business?
A valet trash is a trash collection service where a service valet goes to door to door to pick up trash and take it down to the dumpsters and from there this is forwarded to trash processing plan or site for final disposal.
This service is usually provided in apartment complexes where the residents can easily set out their trash for servicing.
Know how Valet Trash works before you start your own Valet Trash Business
- You will be providing each apartment with a company-branded trash container.
- The apartment residents will use the trash container.
- When the trash will be filled, the residents can set out the trash with the tide garbage bag in it outside their door in the hallway.
- The Service Valet will show up on the property around 8 pm.
- The Service Valet will use the proper equipment to start servicing the trash bags left outside.
- The Service Valet usually starts at the furthest end away from the community dumpster.
- They will repeat picking up trash bags until full property has been serviced.
- They will also notate any valet trash violations and let the management know.
- They will do this same service Sunday to Tuesday night starting at 8 pm and finishing up no later than midnight.
- Once, all the trash bags will be properly serviced, the Service Valet will leave the property.
You can clearly see why most property management complains about choosing this service over any other. It is no doubt effortless, efficient, and can be done with maximum professionalism.
For the residents, it is getting rid of their everyday trash much easier. The days are gone where you had to walk your own trash to the dumpsters.
Now the process has become so simple. All you have to do is open your apartment door, and throw your trash in the provided trash can.
You can also offer to take the recycling down to the necessary on-site bins if the community already offers it.
How much do Valet Trash Companies make & how much is the Trash Removal for an Apartment?
It is to note that starting a valet trash business can be rewarding on many levels.
If you look at the financial side, it can be a relatively cheap way to make money. Also, it can open many doors for your business to grow since it is almost always in demand.
If you look at the personal level, being your own boss can be quite satisfactory. You will get to choose your daily schedule while working the portion of your job that will make you happy.
It can be stressful because of responsibilities, however after a while, you should be able to handle everything as you create your own systems that work for you. It will surely be easy to find a balance between your mental health and your business.
Professionally, being a business owner will teach you a lot of things. With the right experience in contracts, services, and sales, and marketing, you should be able to move ahead into the business world with confidence.
It will all depend on how hard you work to achieve your goals. The more you will put into your business, the more rewarding it will be.
Normally property & asset management companies do the job and they like valet trash service contract for fulfilling two purposes:
1) it makes their lives significantly easier by making their properties cleaner and their residents happier, and
2) they generate a good amount of revenue by providing the service.
According to a Property Manager Insider, the costs which incur in hiring valet trash service provider contractor to provide this trash valet service is finally charged from the residents of the apartments and it is part of the lease agreement.
Let us see an example here:
Consider a 100 unit property/apartments is contracted for $15 per unit per month for trash valet service company. The manager of property pays $1,500 per month for the service to company.
Residents of apartment are required to pay by their lease agreement to pay $30 per month for the service (this much should you charge for valet trash).
Property managers collect trash removal for an apartment $3,000 per month from residents of apartments.
Property managers make $1,500 per month off their residents trash.
A property manager with a 1,000 unit portfolio could earn $15,000 per month off their residents trash. This is over $180,000 annually. Since it came onto the scene in the last decade, valet trash has exploded in use as a result of the financial impact it can have for property managers.
Now, that you have come to a conclusion, whether to start your own valet trash business, or not, it is time to look at the basic steps you have to follow, if you want to start you own valet trash services in the future.
Find your Business Name before you start your own Valet Trash Business
If you want to run a successful business, you should definitely have a clear identity. This attracts the customers and helps them in picking you over any other company in the same field.
Keep in mind that your company should have its own unique selling proposition or USP.
If you wish to determine your USP, you should do the following:
- Review your experience and skills
- Do your market research/competitor research
- Narrow down your options for services to offer
- Come up with your business name
- Create your USP and define what your company will truly offer
The most crucial part about forming your identity is to choose in what area you want to specialize in.
For example, if your company provides services only for the apartment complexes, or will you try to expand your net and look at student dorm buildings, or care facilities?
You can also choose to pick certain types of materials to recycle. Some companies prefer to work with regular household trash, while others can pick more complicated items like electronic appliances.
Now that you have created a proper identity for yourself, it should be easier for you to promote your services and start your marketing campaign.
Begin writing your Valet Trash Business Plan
A very important part of starting any business is beginning with writing a business plan. This is where everything meets together. Writing a valet trash business plan will make you research your potential competitors, estimate your revenue, create a SWOT Analysis, and gives you directions as to where your business will be going.
Your business plan is like a blueprint for your success. It will make you answer some questions about your business to make sure it will be active in the market. As an added bonus, if at any point you will require additional funds or a bank loan, this will surely come into play.
Your business plan will inform them if investing in your business will be worthwhile for them, or not.
Start your own Valet Trash Business Company & get Registered to form your Entity
In this following step, you should collect all the paperwork, so that your business will be recognized as an entity.
This step includes forming an LLC or any suitable corporate entity as well as getting your company registered if required.
If you want to make this happen, you will have to pay your local county business office a visit and see what forms need to be filled or submitted.
You will be given all the regulations of your city related to your business during your visit, so make sure to keep your focus there as well.
This step also consists all the necessary clearance and valet trash business license from EPA or pollution control/regulatory authorities who issues the business licenses as required by state law.
You may already know that, each state of city has its own rules and regulations when it comes to the pollution control, trash collection, transportation, disposal, statutory goods and service taxes.
Learn about the Startup Funds before you start your own Valet Trash Business
You should start with enough money, so that you can cover the basic expenses which are listed above to ensure that you look professional.
Depending on where you get services from, our team suggest you to have at least $500 to $3,000 budget for expenses.
If you already have the required funds in your personal account, yay! If you need to find them, there are a few avenues you can take to get them.
For acquiring more funds, you can go for these following startup fund resources, such as:
- Ask a friend for a loan
- Ask a family member for a loan
- Use resources like Lendio, Prosper, or Lending Club
- SBA Loan
- Other creatives ways like garage sales
- Trade (trade services for what you need)
How to market Valet Trash Business & go for a Marketing Strategy before you start your own Valet Trash Business
Now, it is time for you to start putting together your marketing materials with the correct visual appeal, messaging, and production level that will make you look presentable to companies.
You have to do this with some lead time before going out. Printable items could take a few days to prepare, while a website could take several months and prepare a valet trash business proposal to pitch your prospects, which are generally most of cases property managers or residents associations and estate managers and make a list of apartment looking for valet trash service and than approach them one by one for meeting personally for your valet trash service business presentation.
A business card is a must-have marketing material you will need. It should have your logo, phone number, email, company name, title and address.
A marketing flyer will describe what you do. You can think of it as an elevator pitch, a property manager would look at and instantly know what you did, and how it can benefit them.
Do not forget to add a unique gift to help differentiate you from the other vendors that come in.
You can also go for a sales kit. You will need your go-to informational items to take them through what you do, benefits to the community, benefits to the management company, how you handle violations and your pricing.
Your website will be your most important marketing piece. Your valet trash website will be the first thing that potential clients will go to and verify if your business is authentic, or not.
One of the great things about a website is that it is a 24-hour a day marketing tool for your company. No matter what time someone finds you, it is there to answer any questions or bring them in as a lead.
Know the Source Leads before you start your own Valet Trash Business
An important thing you should consider is to source the best leads possible before you go out. This is where your business plan will come into play.
You can find leads by these following ways:
You can go for Property Management Companies. This type of companies will take care of apartment complexes, or an independent company that focuses on complexes. You can search online to find these.
Google Search for exactly what you are looking for and you shall receive the relevant information.
You can also go for Yelp and search for apartment complexes. This will bring you info on all the local complexes in your area, and also the reviews with it. It is no doubt a great way to find out if the complexes would be fit for your services, or not.
Consider using ApartmentFinder.com or Rent.com to refine your search criteria. Do not forget to keep a notebook in your glove box or middle console and write down the name and address.
When you get home, you can do a little research and verify if they would be good to add to your leads list.
How to Market Valet Trash Business
An excellent marketing approach can change the game when it comes to business. If not done right, it can have negative effects on your business.
You do not need to hire a professional marketing team to promote your valet trash services. You can go for the simplest things yourself.
Some easy marketing ideas you can go for are given below:
Walk-Ins are one of the best ways to market your business. You can walk-in into the management office and speak with someone in charge. They will be usually receptive and take your information. If possible, you can schedule a meeting or follow up for later.
Email Marketing is another way to market your services. When someone will visit your site, you can set a pop-up asking for their email to get offers and newsletters.
This is no doubt a great way to get the clients on your list. Additionally, all of the business cards you collect can also be included in your list. Just make sure to email once a month.
Social Media is one of the best marketing methods. You can also create an account for your business on multiple platforms to be able to interact with a number of people.
You can also make your own Facebook business page, and a LinkedIn business page. It will shower you with instant credibility when speaking with a property manager about valet trash.
Now that you are clear about how to start your own valet trash business, it is time to look at some tips you can follow to run a successful valet trash business.
Tips to start your own Valet Trash Business
- Make your business plan in such a way that it is easy to read right from the very beginning.
- Use these 6 main categories, named as Executive Summary, Products & Services, Market Analysis Summary, Strategy & Implementation Summary, Company Management Summary, and a Financial Plan Appendix.
- It is always better to keep the plan in plain sight.
- It will be a good idea to write the plan in third person.
- Always focus on writing a good piece in which there is no grammar or spelling mistake.
- Always go for a One-Page plan, as it will help you to outline your plan to get started.
- Use bullet points, and break key areas down so that they are easy to find and read.
- Start with reading someone else’s plan.
- Do not overthink in any case, as it will lead to procrastination.
- You can go for colorful graphs or info graphics.
- Do what makes your business better and different than the competitors.
Is Valet Trash a good Business to start?
You should definitely start your own valet trash business as it can be very profitable for you in the future.
Property management companies love valet trash services for various reasons, such as it makes their lives significantly easier by making their properties clear and they make a good amount of money by providing these services.
A property manager with a 1,000 unit portfolio could easily earn $13,000 per month off their residents trash. This is over $150,000 annually.
Valet trash has exploded in use as a result of the financial impact it can have for property managers.
So, this was our article on how to start your own valet trash business. If you found our article informative, do comment down below and share the following article with your fellows.
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