Market Size for Cleaning business?
My wife and I own a residential cleaning business in Longview Texas. We have been plugging away for about 4.5 years now. And after this time we are starting to question the validity of having this kind of a business in a market where incomes and home prices just are not very good.
The reason we started the business thinking we could really own the market since MM was the ONLY actual service (insured, bonded etc) here. Well, we held the number 1 rank on Google for 2.5 years for "House Cleaning Longview Texas" and all the variations of that. Ran various newspaper ads. Even have a colorful car that can be seen from 450 feet away (not kidding).
After this time. We are starting to think there is not enough "target" demographic here to support the business. As in not having to do our own labor. Which is about the business we got. Enough for 2 people. Us. But, of course the point was to grow and have crews. We have never come close to doing that. We even won the 2013 Angie's List Award for quality.
After crunching the numbers there are only about 8500 homes in the area (within about 30 miles) valued at $200,000 or more (that's a lot here). And about that many people making $75,000 or more. And only 800 people making $200,000 or more income in Longview. Yeah. 800.
At what point do we realize this market in general does not support this kind of business? At least at actual residential cleaning prices ($45, $50, $60 a hour).
Oh. On a side note. Several franchises have come. Lasted 6 months. And left since 2011.
Larry and Debi