The following items are very important to the successful execution of this business plan for Spotless Homes:
- Licensing: In order to be able to conduct business in the target market of Cobb county, Georgia, it is imperative that the company successfully receive their corporate license from the State of Georgia. Given that Anthony, Christine and Sofia have held their individual cleaning service business license for many years, we don't anticipate any problem in being able to successfully obtain a similar license for the company.
- Bonding: Getting the appropriate amount of surety bonding is critical for an cleaning contractor. Bonding make sure that the client's property is insured from theft and damage. Spotless Homes will be looking to secure bonding in the amount of $1,000,000 to be able to start doing small sized jobs in the company name.
- Financing: Green Lawn Landscaping will be applying for a 4 year term loan to a large lender. Given the assurances that they have received after their initial consultation with the bank, the owners feel that they should be able to secure this financing successfully. Clearly if they are not able to secure the entire amount of financing, they will have to add additional equity into the business.
- Sub-Contracting Alliances: We feel that it is critical for a small house cleaning service like Spotless Homes to be able to get as much work as possible in the first and second years of business to meet its sales goals. Being able to create new alliances with Realtors and Property managers should go a long way to getting new business.
- Market Condition: While we have planned for three different market scenarios ranging from slow, good to great - it is always possible that the greater economy faces a substantial slow down. The cleaning business has a very high co-relationship with the local economy. While Anthony, Christine and Sofia are not worried about an imminent recession, they know only too well given the challenges they faced between 2008 to 2010, that business can slow down dramatically in the event of a significant downturn in the economy.
- Go to the Corresponding Questionnaire section for this industry.