By establishing a recession-proof pool business, you can maintain profits and continue to scale despite an economic downturn.
Discover some of the top expert strategies to develop a recession-proof pool business by:
When you develop a recession-proof pool business, you can secure your business’ long-term success to continue growing and increasing profits in the middle of a recession.
Maximizing your budget and minimizing spending allows you to stretch spending farther to make the most of a limited budget.
By focusing on the important areas with the highest ROI (i.e. return on investment), you can maximize profits during a recession.
Consider these areas when evaluating your budget:
Also, meeting with a trusted CPA (i.e. certified public accountant) can provide expert financial advice to help you make the most of a limited budget and continue to scale.
In order to develop ambitious, realistic goals to establish a recession-proof pool business, you’ll have to take inflation into consideration.
Inflation peaked in June 2022 at 9.1%. In other words, if you didn’t account for inflation in your goals during this time, then you could hemorrhage profits out of your business.
Consider these elements when accounting for inflation:
Remember, taking inflation into account allows your pool service business to offset increased costs to continue scaling with maximized profits.
As always, consult your CPA to confirm these goals.
After adjusting your goals to account for inflation, you’re ready to recalculate prices.
To start, you’ll want to reassess every client’s price to ensure they’re meeting your new profit goals.
However, instead of spending endless hours manually calculating each client’s price, you can quickly view every client’s individual profitability using Service Autopilot.
As always, check with your trusted CPA before performing a price increase. They’ll be able to ensure you properly price services for the most profit.
Then, you’ll want to raise prices on clients who aren’t meeting your new profit goals.
Although, it’s important to avoid a price increase during peak selling season. If possible, it’s best to raise prices during the off-season.
Manage your clients and employees all in one system
Staying current on the latest industry trends is one of the best ways to build a recession-proof pool business during a rough economy.
Use these top strategies to keep up with the latest industry trends:
Ignite new ideas, troubleshoot problems, and discover innovative strategies by connecting with like-minded pool industry entrepreneurs.
One of the best ways to build a recession-proof pool business is by utilizing the #1 pool service software to:
Additionally, Service Autopilot gives you the opportunity to:
Access limitless growth and success when you choose Service Autopilot. Use Service Autopilot to establish a recession-proof pool business today!
Knowing how to create a recession-proof pool business allows you to:
Start utilizing these pro strategies to develop a recession-proof pool business for long-term success and future growth!
Related: How to Successfully Complete a Pool Service Price Increase
Originally published May 5, 2023 11:42 AM CT
Tags: Business Operation, Featured Post
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