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Projecting business growth for startups is not easy due to the numerous factors that influence it. In addition, growth can be defined differently depending on the goals of a particular business. A business owner that has aspirations of serving a huge area with multiple employees will view growth differently than one who intends to remain a one-person operation and serve a smaller area. Here are some generally accepted facts and figures that can help you project the growth of your business.
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Projecting Business Growth for Your Portable Restroom Rental Company
- A simple way to project when your business will become profitable is to compare your anticipated expenses (startup costs + monthly expenses) to your anticipated monthly revenue. The number of months it takes for the accumulated revenue to become larger than the accumulated expenses will give you an estimate of when you will start making money.
- The first 6 months are for working out the kinks — figuring out your business operations, customers, competitors, etc.*
- Small businesses should reach the break-even point in a year to 18 months*
- Once you own more than 100 units and are renting more than 75-85 of them at a time, it becomes time to hire an employee because it isn’t feasible to handle them all by yourself
- Companies should be running efficiently within 3 to 5 years*
* According to Entrepreneur.com
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