As with any industry, it is inevitable in the portable restroom sector that there will be times when business is slower than usual. When it does happen, it’s important that you’re prepared to ensure you’re not standing around wondering where the next bit of work is coming from.
We’re here to help. Our
experts here at JohnTalk have experienced downturns themselves
and they’ve got the best tips to help you pull through.
Diversify Your Services
One of the best ways to avoid being hit by downturns is to have other services you can fall back on. Nowadays, many PROs are not limited to toilet units but are actively working in many other areas too. Here are some examples:
- Septic waste management – This is closely linked to the PRO industry so you may have some level of expertise already. If you’re not yet working in septic, it’s definitely worth considering. You’ll already have much of the equipment and your staff will be experienced in waste management, meaning your startup costs are low.
- Equipment rental services – PROs often use rental services as a backup industry. Why not look into renting out enerators and barricades, for example? They are sought after for different jobs and industries. You can also branch out into other popular equipment rentals, like dumpsters.
- Fencing rental – Lots of industries require temporary fencing and with flatbeds and other trucks at the ready, PROs are naturally equipped to work in this industry. You probably already have some fencing for your own jobs, but perhaps it’s time to think about investing in more.
- Other types of units – Finally, if your business is heavily reliant on one type of portable restroom unit (for example, standard units) try investing in others. Trailers and luxury units are increasingly popular for events like weddings and business conferences. Diversifying your stock can go a long way to diversifying your business.
For more on how to diversify your business, see our article here. And if you’re still unsure diversifying is a good idea, check out our comparison piece here.
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Last, But Not Least, Keep Some Profits for a Rainy Day
This one may seem obvious,
but you’d be surprised the number of
business owners who don’t put a portion of profits away for a rainy day. Having
a chunk of savings to rely on will help pull you through an industry downturn
if your other services still aren’t enough to keep you afloat.
The bottom line from us
- Plan wisely
- Don’t rely on just one area of
- Be careful with your profits
- Always think long-term
Follow these rules and you should be well prepared for any downturns. We just hope they’re few and far between!
Looking to Take Your Portable Restroom Business to the NEXT LEVEL? Download our FREE Guide: “Your Guide to Operating A Portable Restroom Business.”
Thinking About GETTING INTO the Portable Restroom Industry? Download our FREE Guide: “Your Guide to Starting A Portable Restroom Business.”