That's exactly my point. I do target the wealthy, but when they're not in need of my services, the property managers give me steady work.I'm seeing a common thread here that's really the heart of the issue. It really all comes down to who your target market is. If your target market is nasty rental properties and lower income homeowners, you'll have a tough time making a decent living. This is for the simple reason that these people don't have the money to pay. They typically install the cheapest crap grades of carpet which have no life span, and indeed you'd be better off replacing it. You all know the challenges of just trying to keep it looking clean. You can't polish a dog turd and turn it into a Cadillac.
You are absolutely correct about my target market. My target market is mostly millionaires and billionaires. As I've mentioned previously, we are about 75% commercial. Our target market is law firm's and opulent office buildings in Washington, DC. These are the people that have the money to pay and are willing to pay top dollar for the best quality. In a sense they feel that they are treating themselves to a luxury by spending more money ( like driving a Tesla or Mercedes or paying top dollar for spa treatments). They have a certain standard of living and are willing to pay to maintain and preserve that. So for them it's more about image rather than just cleaning something because it looks filthy. So if these kind of people have a bleach spot on their carpet, they think nothing of paying $1,500.00 to have it repaired. These are opulent office spaces that overlook the White House. They entertain VIP guests, celebrities, and politicians in these places and can't afford to have the appearance (reputation) of their facilities compromised. I'll post a photo of a couple of bleached areas that I just fixed in a law firm that I charged $1,500.00 for. The job took me about 25 minutes to do. I had a few of my trainees with me to observe the process. I think a couple of them are here in this group and can chime in with their comments. This was in a law firm right next to the White House.
I certainly get it and understand that not everyone lives in a city. My wife is from rural Maine. A lot of the people there live in houses that are in great need of repair. It's common to see houses with peeling paint and sagging porch is because the people can't afford to keep them up. I get that. But as a business owner you should be targeting people who can afford to pay for your services.
Consider changing your target market. Market your services to people that have the money to pay for top quality.
Regarding polyester and Olefin carpets… We just about never encounter these types of carpets because high-end commercial and residential properties would never install these junk fibers. They will always have nylon and wool carpets. Some of the properties that we service even have silk carpets.
Please understand that I'm not knocking or criticizing anybody who lives in an area that's depressed. As a business owner you can only do your best to establish your business and deal with the market conditions that exist in your area. I have nothing but respect for business owners and wish each of you the best success. You will never see me get jealous or make negative comments about someone who is doing well and becoming phenomenally successful. I love seeing other people's success and enjoy helping other people to achieve that success. Do I make money doing this? Of course I do. I don't give away my services for free. But I'm making money by helping other people make money, not by training someone and abandoning them with a good luck wish. There are 219 people in The Dye Lot who will attest to this. I go out of my way to help others to ensure their success.
Anyway, happy to help anyone who would like advice on how they can develop their target market. Many of you are doing well and don't need any help. That's fine. Just making the offer to anyone who would like some help or advice.
Here are the pics of the law firm spots I mentioned earlier.
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It's rule #1 of being successful. You want to be profitable, but when the profitable jobs slow down...steady work is a NECESSITY to keeping your money flowing. And sad to say, the steady work is the majority of the work in my area. I've taken all the information over the years, and I've found that most of the business advice that comes from the mouths of businesses like yours, doesn't apply to the majority of businesses in our category.