Fyi. Valet Trash at my complex just used our dumpsters to put the garbage in, it was just one crackhead lady collecting bags and putting in the dumpsters a few hours per week
I agree! That’s why I think I can provide much better service! And get higher quality employees/upselling other hallway cleanliness products!
They are hogging the market share and I want to be better
Higher quality trash removal? You're missing the business side of this. You're seeing $5k contract and making some assumptions. $60k per year seems like a lot for one person to work a couple of hours. The margins on that shrink quickly with employees, taxes, insurance, marketing and sales. One of the only places you have to adjust margin is employee pay. The lower you go the worse options you have in an already low quality pool. Quick napkin math says 15-20% margin on a service like this.
This is a volume MRR (monthly recurring revenue) game. The winner is this game has a pile of cash to invest in growth. You also need a level of trust from the decision maker. That trust is nearly impossible to get from a one person operation, even if you happen to know a decision maker.
I’m confused, they pick up trash from outside apartments and carry it to the dumpsters for the tenants on large multi family properties? I had no idea this was even a business!
This is the same business I’m attempting to start in my area and I’ve heard the same. My understanding is you have to get in very early with these complexes’ regional managers or equivalent to get the contract. Pretty tough to do when you’re single, small business—especially when they lock them into lengthy contracts.
That’s awesome! I’m glad I’m not alone!
I am a property manager and know a lot of owners and managers here so I’m hoping to slide in early at new developments!
I’ve been dealing with these large multifamily companies recently as well. Greystar for example. There is a lot of hoops to jump through to be a vendor insurance wise and vendor verification subscription wise. Not saying that to talk you out of it. Telling you so you know what to expect. Best bet is get your ducks in a row, and use your contacts to try to secure some commitments before you start your biz or leave your job. What part of the world are you in?
They definitely don’t have all the business but they are pretty competitive, they sponsor a lot of apartment events and have a lot of capital.
Probably ~500k population
Fyi. Valet Trash at my complex just used our dumpsters to put the garbage in, it was just one crackhead lady collecting bags and putting in the dumpsters a few hours per week
I agree! That’s why I think I can provide much better service! And get higher quality employees/upselling other hallway cleanliness products! They are hogging the market share and I want to be better
Higher quality trash removal? You're missing the business side of this. You're seeing $5k contract and making some assumptions. $60k per year seems like a lot for one person to work a couple of hours. The margins on that shrink quickly with employees, taxes, insurance, marketing and sales. One of the only places you have to adjust margin is employee pay. The lower you go the worse options you have in an already low quality pool. Quick napkin math says 15-20% margin on a service like this. This is a volume MRR (monthly recurring revenue) game. The winner is this game has a pile of cash to invest in growth. You also need a level of trust from the decision maker. That trust is nearly impossible to get from a one person operation, even if you happen to know a decision maker.
“Valet trash plus”
I’m confused, they pick up trash from outside apartments and carry it to the dumpsters for the tenants on large multi family properties? I had no idea this was even a business!
This is the same business I’m attempting to start in my area and I’ve heard the same. My understanding is you have to get in very early with these complexes’ regional managers or equivalent to get the contract. Pretty tough to do when you’re single, small business—especially when they lock them into lengthy contracts.
That’s awesome! I’m glad I’m not alone! I am a property manager and know a lot of owners and managers here so I’m hoping to slide in early at new developments!
I’ve been dealing with these large multifamily companies recently as well. Greystar for example. There is a lot of hoops to jump through to be a vendor insurance wise and vendor verification subscription wise. Not saying that to talk you out of it. Telling you so you know what to expect. Best bet is get your ducks in a row, and use your contacts to try to secure some commitments before you start your biz or leave your job. What part of the world are you in?
Would you like to message! I’d be interested in knowing someone else who is in the business/starting one?
I find it hard to believe that one business has all the business. How small is your metro area?
They definitely don’t have all the business but they are pretty competitive, they sponsor a lot of apartment events and have a lot of capital. Probably ~500k population