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How would you spend $75k to start up
+3
ACpower1
milspec6
Devon07
7 posters
:: Forums :: Business/Management
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How would you spend $75k to start up
How would you spend $75k to start up your carpet company?...if you dont spend it you dont get it! just for the business!
What equipment? ...budget out this money....you can use an amount for advertising. Just want to see how we would all differ if at all. ready? ....go!
What equipment? ...budget out this money....you can use an amount for advertising. Just want to see how we would all differ if at all. ready? ....go!
Devon07- Expert & Trusted Member
- Posts : 1912
Join date : 2015-04-02
Age : 59
Location : Oklahoma
Re: How would you spend $75k to start up
From the outside inward.
Marketing first and working my way back to the equipment. I did it the other way around with 52k and wasted a lot of it before I realized what I really needed.....a ringing phone!
As for the specifics, something like this:
30k on marketing at the start
30k on truck and machine
15k on equipment
Marketing would include uniforms, van logos, website, and radio campaigns, bumper / window stickers.
We have a tattoo shop in this area that started out just getting teens to place their name on bumpers and back windows in exchange for services. I must have seen that name and logo for 6 months before ever finding out what the place really was.
The one thing it did was become a household name and in 2 years, he now owns 3 shops and large bar that has become a local favorite. Pretty well done.
Marketing first and working my way back to the equipment. I did it the other way around with 52k and wasted a lot of it before I realized what I really needed.....a ringing phone!
As for the specifics, something like this:
30k on marketing at the start
30k on truck and machine
15k on equipment
Marketing would include uniforms, van logos, website, and radio campaigns, bumper / window stickers.
We have a tattoo shop in this area that started out just getting teens to place their name on bumpers and back windows in exchange for services. I must have seen that name and logo for 6 months before ever finding out what the place really was.
The one thing it did was become a household name and in 2 years, he now owns 3 shops and large bar that has become a local favorite. Pretty well done.
Re: How would you spend $75k to start up
ya I would also focus a good amount of that on marketing but very carefully.
equipment matters but its nothing without the phone ringing.
I would buy a nice van that has a newer look to it, sprinter/nissan NV really helps with image. Ive been seeing some nice ones for around 17-20k.
Then a nice but not ridiculous TM, probably brand new for around 10-12k
I would buy a cimex probably used in good condition if possible
Then get a good HD camera and start producing some really nice videos, pictures speak a thousand words, videos are 100x pictures lol
I would spend probably 1500-2000 on a really nice website with some solid SEO work, this is super important
I would go clean and somewhat minimal on the van wrap but again a newer vehicle, probably a jet black mercedes sprinter... those looks so damn good, saw one for 20k here drool
Most of the advertising money I would spend very slowly, and do mostly free advertising at first.
I would charge a bit less in the beginning, many studies show that with service businesses 95% of your customers cant remember what exactly they paid you last year or last time.... Im not saying go hack prices, but you cant charge high end money without an already established reputation, just enough to make good money and not kill yourself but also not sitting on the couch waiting for the phone to ring
equipment matters but its nothing without the phone ringing.
I would buy a nice van that has a newer look to it, sprinter/nissan NV really helps with image. Ive been seeing some nice ones for around 17-20k.
Then a nice but not ridiculous TM, probably brand new for around 10-12k
I would buy a cimex probably used in good condition if possible
Then get a good HD camera and start producing some really nice videos, pictures speak a thousand words, videos are 100x pictures lol
I would spend probably 1500-2000 on a really nice website with some solid SEO work, this is super important
I would go clean and somewhat minimal on the van wrap but again a newer vehicle, probably a jet black mercedes sprinter... those looks so damn good, saw one for 20k here drool
Most of the advertising money I would spend very slowly, and do mostly free advertising at first.
I would charge a bit less in the beginning, many studies show that with service businesses 95% of your customers cant remember what exactly they paid you last year or last time.... Im not saying go hack prices, but you cant charge high end money without an already established reputation, just enough to make good money and not kill yourself but also not sitting on the couch waiting for the phone to ring
Re: How would you spend $75k to start up
I live in a large rural town with some small town close by. Population in the metro area is about 250k.
YP is dead. Internet searches is small for CC. I've talked with a few that are top listings here.
I would look for a used rig for less than 10k, prefer more like 7-8k.
With a rotovac, a square scrub being the special toys inside. Maybe other?
-I would not be spending a lot in the beginning for work van\equip.
*I would start with flyer insert in the newspaper...6,000 for $600. I would have that done weekly hitting different areas over 2 mo, then repeat. So about 2 years of 24,000 hits each month=$48,000yr. Wouldn't do much of this in the winter months. So 10 months out of the year.
* do an eddm hitting neighborhoods that the flyers didn't reach. 500 every other week. So about $500 a month if I've remember the cost of how much to do that.
*buy spotter bottles. And give them way. Use youth groups to sell as a fundraiser, they keep all the $. Cost...$2.50 ea. Have on the bottle a $ off when cleaning is done. And free refills of course. Cost-$1000-1500
*do a specific campaign mailer to Dr, dentist, chiropractors, lawyers, and other professional offices. And daycares!! Cost...$200 mo
I would avoid restaurants! Unlike what I actually did in my beginning.
* I would connect with the local schools and do a promotion with sporting events. I donate a prize that is given away for a contest promotion: kick a field goal, make a 3 pointer... Totally a support the kids\communuty kinda thing. Cost $500-1000yr.
*support local food drive by collecting can food items.
*support local ALS, Alzheimer's events... Already do. My brother-in-law and co scout leader hit with these conditions:(
+ wouldn't do billboards, shopping carts, golf hole signs, church newsletters, school sports caladers, and all that other cr** telemarketing kinda calls I get!
So after 2 years of heavy flyers, postcards, and professional office targeting I would have spent = $77,500 or so. Oops, I over spent!?
And I would hire women to do the work and gain an advantage over the CC in town!!!
YP is dead. Internet searches is small for CC. I've talked with a few that are top listings here.
I would look for a used rig for less than 10k, prefer more like 7-8k.
With a rotovac, a square scrub being the special toys inside. Maybe other?
-I would not be spending a lot in the beginning for work van\equip.
*I would start with flyer insert in the newspaper...6,000 for $600. I would have that done weekly hitting different areas over 2 mo, then repeat. So about 2 years of 24,000 hits each month=$48,000yr. Wouldn't do much of this in the winter months. So 10 months out of the year.
* do an eddm hitting neighborhoods that the flyers didn't reach. 500 every other week. So about $500 a month if I've remember the cost of how much to do that.
*buy spotter bottles. And give them way. Use youth groups to sell as a fundraiser, they keep all the $. Cost...$2.50 ea. Have on the bottle a $ off when cleaning is done. And free refills of course. Cost-$1000-1500
*do a specific campaign mailer to Dr, dentist, chiropractors, lawyers, and other professional offices. And daycares!! Cost...$200 mo
I would avoid restaurants! Unlike what I actually did in my beginning.
* I would connect with the local schools and do a promotion with sporting events. I donate a prize that is given away for a contest promotion: kick a field goal, make a 3 pointer... Totally a support the kids\communuty kinda thing. Cost $500-1000yr.
*support local food drive by collecting can food items.
*support local ALS, Alzheimer's events... Already do. My brother-in-law and co scout leader hit with these conditions:(
+ wouldn't do billboards, shopping carts, golf hole signs, church newsletters, school sports caladers, and all that other cr** telemarketing kinda calls I get!
So after 2 years of heavy flyers, postcards, and professional office targeting I would have spent = $77,500 or so. Oops, I over spent!?
And I would hire women to do the work and gain an advantage over the CC in town!!!
Matt; My carpet cleaner- Senior Member
- Posts : 1419
Join date : 2013-09-21
Age : 59
Location : Yakima, wa.
Re: How would you spend $75k to start up
Set aside 30K for a rookie tech
20K for Marketing sales and adverting
10K for used E3500
5k for additional toys I mean tools
10K in Reserves
Take a month vacation with all the extra income that 20k in advertising has generated
20K for Marketing sales and adverting
10K for used E3500
5k for additional toys I mean tools
10K in Reserves
Take a month vacation with all the extra income that 20k in advertising has generated
Re: How would you spend $75k to start up
No "reserves allowed"....have to spend it, but it looks like we were thinking in the same vein.
Re: How would you spend $75k to start up
Just deducted $10k from Mo (sorry Mo) you guys have interesting ways of doing things. One thing around here that really pulls is the image...I hate it but it's true! It's a small community and they talk.....everyone wants the guy with the goods. You need to back it up too...I'm fortunate to have old clients asking for my return....I already have a retirement home connection set up.....the guy owns 16 homes. So, already looking like I will have work out of the gate....could have done a water damage today too. I'm leaning more on equipment instead of advertising. I will do news paper and inserts here and there.....send out postcards etc....word of mouth should be big if you're good. Remember I'm not looking to become big. one thing I hate is to miss work because of lack of equipment.
Devon07- Expert & Trusted Member
- Posts : 1912
Join date : 2015-04-02
Age : 59
Location : Oklahoma
Re: How would you spend $75k to start up
I wouldn't bother with print/mailing advo, it's dead.
Go with the internet stuff.
Go with the internet stuff.
Davey Cracker- Expert & Trusted Member
- Posts : 4796
Join date : 2013-09-20
Age : 57
Location : Long Beach CA
Re: How would you spend $75k to start up
How's Yelp or Angie's List used in your area?
Popular/used by many, or not so much?????
Popular/used by many, or not so much?????
Davey Cracker- Expert & Trusted Member
- Posts : 4796
Join date : 2013-09-20
Age : 57
Location : Long Beach CA
Re: How would you spend $75k to start up
Never in my life have I used yelp or Angie's so have no idea. I'm a little lost in this area because when I got out yellow pages where still raping everyone.
Devon07- Expert & Trusted Member
- Posts : 1912
Join date : 2015-04-02
Age : 59
Location : Oklahoma
Re: How would you spend $75k to start up
Glad I don't have YP ads anymore but not sure where to turn....I can FB and do a website but still don't know who or where to go for the replacement.
Devon07- Expert & Trusted Member
- Posts : 1912
Join date : 2015-04-02
Age : 59
Location : Oklahoma
Re: How would you spend $75k to start up
Davey.... Advertising is way less competitive here so when it's done there are measurable results. I suspect Long Beach can get crowded with ads competing? Or they are big on the yelp, Angie thing?
Devon07- Expert & Trusted Member
- Posts : 1912
Join date : 2015-04-02
Age : 59
Location : Oklahoma
Re: How would you spend $75k to start up
Sounds like you got some researching to do. Unless you just got money to throw at things until one works?
Hell, I had an 83 year old man find me on Yelp today (the kind of person you would expect to still use the YP), but no, thangs have changed!!
Hell, I had an 83 year old man find me on Yelp today (the kind of person you would expect to still use the YP), but no, thangs have changed!!
Davey Cracker- Expert & Trusted Member
- Posts : 4796
Join date : 2013-09-20
Age : 57
Location : Long Beach CA
Re: How would you spend $75k to start up
Oh I'll find what works! I guess I'm relaxed about it because I know key people to keep me busy.
It's interesting though.."what is everyone doing for making the phone ring?
It's interesting though.."what is everyone doing for making the phone ring?
Devon07- Expert & Trusted Member
- Posts : 1912
Join date : 2015-04-02
Age : 59
Location : Oklahoma
Re: How would you spend $75k to start up
Darn it I just lost 10K. Can we just call it positive working capitol? It just goes against my nature to blow all that money
Re: How would you spend $75k to start up
LOL...Mo! Thats funny....I am very entrepreneurial. My wife thinks im nuts. I have spent more money than I will ever admit to. Last year alone I have over $160k into something that I have worked on for 8 years and just now starting to see its returns. I thrive on what power money has....I love to see it create and build...so much so I have little if any fear...and ive lost a bunch of it.
But yes, you can keep the $10k but dont tell the others.
But yes, you can keep the $10k but dont tell the others.
Devon07- Expert & Trusted Member
- Posts : 1912
Join date : 2015-04-02
Age : 59
Location : Oklahoma
Re: How would you spend $75k to start up
Judging by your last post Devon, I'm going to guess you don't fish?
Small markets function on word of mouth...well, actually small towns operate like a phone booth. You can't do anything without people talking and word spreads fast, good and bad.
What really works in a small town market is an accent. You show up in a small Midwestern town with an Australian accent or Scottish and you will be made Mayor in a week.
Having that anchor is a huge help both in exposure and stability, everything else will follow it in quick fashion.
Small markets function on word of mouth...well, actually small towns operate like a phone booth. You can't do anything without people talking and word spreads fast, good and bad.
What really works in a small town market is an accent. You show up in a small Midwestern town with an Australian accent or Scottish and you will be made Mayor in a week.
Having that anchor is a huge help both in exposure and stability, everything else will follow it in quick fashion.
Re: How would you spend $75k to start up
I went deep sea fishing once and caught a pelican....not interested in fishing a bunch, I can at local ponds or lakes here and there and enjoy it, But my money is "ALL IN " on the entrepreneurial side. I know it sounds crazy but thats what I live for. I just picked up a huge dealer in Sweeden for my product. and one here in the states. after 4 or 5 dealers its going to snowball.
Devon07- Expert & Trusted Member
- Posts : 1912
Join date : 2015-04-02
Age : 59
Location : Oklahoma
Re: How would you spend $75k to start up
I can really flourish in my smaller market with my background, passion for marketing and the fact Im OCD. not even kidding....this cleaning gig feeds my disorder. lol
Devon07- Expert & Trusted Member
- Posts : 1912
Join date : 2015-04-02
Age : 59
Location : Oklahoma
Re: How would you spend $75k to start up
It does sound like you still have a great deal of passion for it.....that alone will drive success.
Don't forget us little people when you get there, I might need a job pulling hoses by then.
Don't forget us little people when you get there, I might need a job pulling hoses by then.
Re: How would you spend $75k to start up
I would find a used van and TM for about $ 30 k, no toys yet, a couple hundred bucks for chemicals and the rest on advertisements, if no reserves allowed, yes that's a boat load of $$ for advertisements, I used to spend over $ 10 k / month in advertisements to keep 3 vans busy back in the days when I had a partner, gotta have enough jobs / business to feed 2 families.
dp1- Moderator
- Posts : 3966
Join date : 2013-09-19
Location : california
Re: How would you spend $75k to start up
I am an advertising nut, but with my market and all the usual same ole guys cleaning here with run down equipment and lack of service it wont take any real advertising(not being mean but its true)....my thoughts were to have the equipment to do what it takes to "WOW" my customer and word will travel fast. My reputation, although only 7 here, is good in my area ....when its understood Im back, I should have the phone ringing. With this being said.....how would you get the new phone number accessable?
My thoughts are to....run a display ad in the news paper even though its not very big here.
Do some inserts in the news paper a few times in select areas.
And as in the past I mail out postcards daily....maybe only 10 a day to homes I see while driving.....people working on homes, painting truck or work of some sort going on.
I have contacts with several Realtors and have friends in big businesses. I already have work but still waiting for equip.
My marketing efforts are needed to expose my phone number and show that im back and with new equipment of today. Im not even kidding when I say a local guy is using one of my old TM units from 10 years ago and it was beat up then.....I know it can be rebuilt BUT i know its not....he will run it till it breaks then fix whats broke. It was a smaller unit too...not much for power but was a slide in with ample heat.
Thoughts?
My thoughts are to....run a display ad in the news paper even though its not very big here.
Do some inserts in the news paper a few times in select areas.
And as in the past I mail out postcards daily....maybe only 10 a day to homes I see while driving.....people working on homes, painting truck or work of some sort going on.
I have contacts with several Realtors and have friends in big businesses. I already have work but still waiting for equip.
My marketing efforts are needed to expose my phone number and show that im back and with new equipment of today. Im not even kidding when I say a local guy is using one of my old TM units from 10 years ago and it was beat up then.....I know it can be rebuilt BUT i know its not....he will run it till it breaks then fix whats broke. It was a smaller unit too...not much for power but was a slide in with ample heat.
Thoughts?
Devon07- Expert & Trusted Member
- Posts : 1912
Join date : 2015-04-02
Age : 59
Location : Oklahoma
Re: How would you spend $75k to start up
Devon do you still have your client list or did you sell your company the last time you were in biz? Are you keeping the same name? Can you get your old phone number back?
What would be a good way to let your service area know your back? Newspaper insert, billboard, cable tv, EDDM???
What would be a good way to let your service area know your back? Newspaper insert, billboard, cable tv, EDDM???
Re: How would you spend $75k to start up
I would be careful in notifying your old customers if you sold your business back then, if the current owner found out, you may end up in court, if you only sold your equipment and phone number, that would be different, but then again you don't live in sue happy state like we do, lol.
Personally my preference of notifying your old clients would be phone calls to your most loyal ones, personalized mail in an envelope to the rests. Post cards would just be too easy to miss or thrown out because they have a reputation of "junk mail" types, only cheap customers would go through them imo.
Personally my preference of notifying your old clients would be phone calls to your most loyal ones, personalized mail in an envelope to the rests. Post cards would just be too easy to miss or thrown out because they have a reputation of "junk mail" types, only cheap customers would go through them imo.
dp1- Moderator
- Posts : 3966
Join date : 2013-09-19
Location : california
Re: How would you spend $75k to start up
I sold the whole thing but he went under about a year after because he had some issues and is currently living in California....so, I can use anything I want....technically he still owes me $10k...so, Im not worried at all. Yes, I have my client base still and should be easy to get back in touch with diest mailings to them.
Devon07- Expert & Trusted Member
- Posts : 1912
Join date : 2015-04-02
Age : 59
Location : Oklahoma
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