Ah! Trash is so disgusting! This is most people’s thought about starting a business that involves gross or messy situations like trash, but I’m here to tell you that those jobs can be very rewarding and pay extremely well.
This is where starting a valet trash business comes into play. Yes, you are dealing with trash on a nightly basis, but I want to show you why a valet trash business can be one of your best options when going out on your own to become a business owner.
Create Unlimited Revenue Potential
Any time you take a job or start a business you always want to know, how much money can I really make? Well, when you start a valet trash business the opportunity for an unlimited revenue stream is achievable.
Each contract that you get with an apartment complex will become revenue that your business generates. This is the same whether it’s one, two or ten apartment complexes. Once you have your contract in place, you are able to predict your gross revenue for the length of that contract.
To get an idea of how much revenue can be generated at a property, be sure to check out our NTV Pricing Calculator. This is an easy tool to see what can be made at up to 5 properties.
Have Job Stability
Let’s talk about the stability of starting a valet trash business. No matter where you live there will always be trash or recycling. Everyday apartment residents are throwing out trash, so naturally this opens the door for your service since trash and recycling will always need to be serviced.
Additionally, the overall goal is to get a contract with a property management company on one or multiple properties. The job stability is built into the contract length. You can offer a month-to-month contract to entice property managers, but your bread and butter contracts will be 3-years or even 5-years, depending on what the property wants.
Do you see the job stability now? It’s right there in the contract length. Signing one contract at a multi-year term automatically secures having a job for the next few years. Now when you stack a few of these contracts on top of one another and renew them with the properties when they are about to expire, it can really set you up for quite a while.
Be Your Own Boss
You knew this reason was coming. That’s part of the American Dream, to own your own business. Everyone wants to be that person on the top making the decisions and receiving all of the benefits. While this can be great, I’m going to honest with you, it’s a lot of hard work.
When you start your valet trash business you are wearing a lot of different hats from accounting to sales and even servicing the properties. Once you get going though and sign a few contracts, this can all change. It now gives you the ability to hire the right sales team, service valets, and even a CPA to do your books.
There is no easy path to the top, but hard work and perseverance with a valet trash business can pay off ten-fold and help you achieve part of that American Dream.
Affordable Startup Costs
With every business, there are costs to get started. The same goes for a valet trash business, but some expenses are required while others can be delayed. When you start you will need to spend some money on forming a business entity, marketing materials (business cards, flyers, etc.), a website (at least one-page with your info), and I would suggest a collared shirt or polo with your logo on it. Those are the main must-have items. All the other expenses can be delayed until you get a contract on an apartment complex.
Once you get your first contract, then you’ll need to purchases some recurring or larger priced items. This would include your supplies to service a community, insurances, accounting software and the largest item, trash containers for a property. The trash containers are the most expensive item but are a necessity for you to operate your business as efficiently as possible.
With all of these startup costs, you can still break into a market relatively cheap. This will give you a good sense of how quickly you can expect to get a property under contract and when those larger purchases will come down the road.
Strong Market Demand
Whether you’re starting in a market that already has the valet trash amenity or an area that doesn’t know about this service yet there is strong market demand. Let’s take a look at these statistics, just so you can get an idea of how many people rent apartments.
- There are 20.8 million apartments in the United States
- 34% of U.S. households reside in rental housing
- This equates to 43.3 million families
- The most renters are is in California at 6.5 million multifamily residents, which is 17% of the state population
- The least amount of renters in the U.S. reside in Wyoming at 28,326
Source: National Multifamily Housing Council – 2017 Statistics
Now that you’ve seen that there is an abundance of people renting apartments, let’s look at why apartment complexes want the service. Your valet trash business solves a problem for them. It keeps their community clean and frees up time for their maintenance staff to do the items they actually need to do, but most importantly it brings them revenue.
One of the big selling points of any valet trash business owner is the fact that you are offering an amenity that actually makes a property management company money. There are so many additional benefits, but this is usually the factor when an apartment is making its decision. The fact that money can be made by the complex helps create a strong market demand because when one apartment brings on the service a neighboring one will as well to stay competitive.
To sum it up, a lot of people rent, apartment complexes want more money, they use your valet trash business to add more revenue, everyone is happy in that the apartment makes money, you get the business and residents don’t have to take out the trash!
Well, those are the main reasons why you should start a valet trash business. In the end, you might be dealing with someone else’s trash, but you can create a well-paying recession-proof business. Now get out there and turn trash into cash!