Thinking of Selling Your Cleaning Service in Colorado? What You Need to Know in 2022
Americans started 2021 by cleaning house—literally. The COVID-19 pandemic kick-started worldwide hygiene awareness and majorly boosted demand for cleaning businesses. It wasn’t just about safety—it was about peace of mind. Residential cleaners, maids, janitors, and other sanitation professionals suddenly found themselves booked solid, with no end in sight. Today, in 2022, cleaning services continue to do brisk business…a trend that has many entrepreneurs considering their options.
Selling a cleaning business in 2022 is strategic and timely. There’s never been a better time for owners to find good buyers, get the best possible prices, and explore other avenues (if they so choose). With cleaning services in high demand, and growing interest in entrepreneurship, organizations that specialize in cleaning services can be extremely valuable investments.
Read on to learn what our advisors have to say about the outlook—and learn how Transworld - Colorado can help you sell when you’re ready.
Why Are Cleaning Services in Demand?
Early on during the COVID-19 pandemic, health officials advised citizens to sanitize their hands and their homes frequently to reduce chances of contracting the virus. Government officials were quick to codify these recommendations, and in many states, professional cleaning became a requirement for certain organizations and entities.
For example, before the pandemic, hospitals were obligated to contract with janitorial services for everyday (and specialty) sanitation and safety reasons. During the pandemic, hospital administrators saw the need for increased vigilance and ramped up cleaning practices. Other fields quickly followed suit, including restaurants, movie theaters, public transportation, and others.
Commercial entities weren’t the only people motivated to retain professional cleaning companies. Families, too, began to schedule maid services for their homes. Deep cleaning became a weekly, if not daily practice, especially for households with high-exposure workers and young children.
Cleaning Industry Projections
Thinking of selling your business? You’re not alone. Many entrepreneurs have read the market trends and sold their operations, making tidy profits during a period of critical growth and demand.
Long-term growth is projected for the professional cleaning industry. The pandemic greatly raised consumer awareness of hygiene. Cleanliness is now a major factor for large portions of the American populace, and businesses who want to capture those consumers have made cleaning a priority.
Even with the most turbulent parts of the pandemic behind us, businesses have not dispensed with their new-and-improved approach to sanitation. Hospitals and medical organizations continue to require rigorous cleaning. Other businesses prioritize their employees’ and customers’ safety, and therefore continue to retain professional cleaners as a function of new attitudes about due diligence.
The cleaning industry is also poised for major advancements in technology and efficiency. As with many industries, automation is looming large, with promises of AI window cleaners on the horizon. Green (eco-friendly and/or sustainable) products, services, and equipment are also popular due to increased climate change awareness.
Steps to Selling Your Cleaning Service
Now that you’ve learned that businesses like yours are selling fast, you may be interested in exploring your options. Good news: the advisors at Transworld – Colorado have already sold hundreds of cleaning services, and are well-equipped to help you sell yours. Even if you haven’t decided to sell yet, we’re happy to provide more information about the process so you can make the right decision.
Here’s what you need to know right now:
· Strike while the iron is hot! Demand for cleaning companies will continue for a while, but no one can say for sure how long it will last. Selling now is timely.
· Review your business’s policies. Look carefully at your approach to employment versus independent contractors, especially the pros and cons, before selling.
· Retain a business brokerage you trust. Selling can be a complicated process with many roadblocks and open-ended questions. Experienced advisors are an asset.
Selling now could be the best thing you ever did for yourself, your business, and your future endeavors, but there’s only one way to find out. Schedule a conversation with the cleaning industry specialists at Transworld – Colorado today to chat about your cleaning business and learn how we can help you sell!