No wonder guys are so scared of water damage because of horror stories like this.
I have over 500 pieces of equipment and yes can have upwards of 200000 sitting in receivables but I’d rather have that income at some point incoming than have it to go out everyday trying to fetch 1000 Per day cleaning carpet.
My biz carries zero debt and it wasn’t carpet cleaning that bought the three
vortex’s, box trucks, vans and pickup trucks, it was the water damage.
I don’t encourage anyone to take a loan to get into the biz as that is what will sink you fast as you stress to make that additional payment while you might be in a water damage loss drought.
a buddy of mine has a phrase that goes like
“ water damage is a feast or famine kind of biz”
So in the times of feast I put up enough for the time of famine.
Hopefully, God willing, we will be completely personally debt free in 2019 and again this wasn’t by cleaning carpet.