MOLD REMEDIATION BUSINESS PLAN SAMPLE TEMPLATE
There are various requirements for starting a mold removal company, a mold removal company can only be fully functional when it has met a valid educational, training and licensing demand.
The main criterion for a successful mold remediation company is its ability to ensure safety of workers, its elementary assessment during mold removal, its ability to contain contamination, to determine and remove the source of the mold issue.
Here is a sample business plan for starting a mold removal business.
What is mold remediation business? Remediation is an English word which means remedying a situation. Mold is a fungus, and it is known for growing in the form of a multicellular filament also called hyphae. So mold remediation deals with the procedure for controlling the effect of mold.
Mold spores can be seen almost everywhere both indoor and outdoor and they cause damage to properties and can be very irritating, hence the need for removal.
In this article, we would be discussing how you can start mold inspection and remediation business, the likely problems and the best way to solve them. At the end of the discussion, you will have enough information on how to start and run a successful mold business.
Before you then start the business you need to:
Step by Step Guide to Starting a Mold Removal Company
- Become Certified as a Mold Remediation Specialist
This is one of the first steps to be taken when preparing to start mold remediation business. True you may have the idea of what mold remediation is and how to conduct the mold remediation process, but certification is very important.
After getting the required training, from a recognized body, certification will be done. This will enable you to be able to receive reasonable projects from industries and company, and this will help you become a registered business setting.
- Financial Information
Do you have enough funds required to start up a mold removal business? Funding a mold company is not expensive, but your personal funds might not be enough, considered the purchase of a location equipment, worker’s salaries etc.
Acquiring a loan from a commercial bank is not an easy task as banks would not grant loans to small companies who do not have a reasonable proven extent of experience in their field. It still remains difficult even with a proven experience and a personal guarantee.
If securing a bank loan doesn’t work out, you should consider the Small Business Administration (SBA). This organization grants loans to companies who have been unable to secure a commercial bank loan.
In starting a mold remediation business, other sources of finance include Home Equity loans, investors and loans from relatives.
Writing a financial budget of your business is also part of planning, your budget should contain the cost of starting a mold inspection business and maintaining it within a year or two.
- Business Structure and Registration
Carefully pick out the most favorable business structure for your mold removal company startup, your business structure would influence the documentation of assets tax.
If you have a hard time deciding, employ the services of a professional business consultant who would assist you in figuring out what’s best for the company. Most mold removal companies start up with a sole proprietorship, or you may prefer partnership, a corporation or a Limited Liability Company.
After picking out your preferred business structure, choose a suitable name and register with your regional Secretary of States.
- Business Situation
The location of your mold company should be one which would grant easy access to your customers. If you’ve decided solely on home services, a large space may not be required. You’ll need a space for storing equipment and an office space for employees.
- Get the Appropriate Tools
Here are the equipment or tools one must get before or when planning to start mold remediation business:
- Testing kits and report: You need to at first get kit for testing the type of mold you will be dealing with, and get a comprehensive report to help make your work easier.
- Air scrubbers: This is used for removing spores in the air.
- Drying equipment: this is used for the purpose of drying the surface of the previously affected area which is now cleaned.
- Dehumidifier: This mold remediation equipment is used to remove excess moisture present in the air.
What Mold Remediation Process Involves
4 steps will help you understand what the business is all about and they are highlighted below:
- Sealing of Mold: The first thing to do is to contain the existing mold so as to prevent it from spreading to other areas. After spotting the affected areas, the area will then be contained. This is done by opening the building envelope which is the separation between the contained and the not contained part of a building. Packing out of infected furniture will also be done.
- Control Humidity: A humid environmental condition helps the breeding of molds, so the best way to start remedying the situation is to kill the environment they survive most in. drying plan is created to ensure the safe removal of moisture as much as possible. Standing water will be extracted using some specialized tools e.g. air movers, dehumidifier etc. until the required level is reached.
- Mold Removal: After having a dry space, a vacuum called HEPA (High Efficient Particulate Air) is used on the surface. The HEPA vacuum can remove even small and tiny particle due to its fine filters. After vacuuming then washing the surface with detergent is done and any visible contamination is further cleaned with the vacuum.
- Clean up: After undergoing this step the technicians will do a completely clean and sealing of the furnace and duct system. And negative air and containment system will be removed.
Get a Unique Mold Business Plan
For a good business, you need a unique business plan for mold remediation company. A business plan is a document containing the basic information and plan for the business. For a mold remediation business, the important points to be included:
- The business name
- Mission and vision statement
- Your SWOT (Strength, Weakness, Opportunities, and Threat) analysis
- Your competitor and your financial plans.
Getting all this information will help know the best way to run the business.
- Who Need Mold Remediation Business Services
Mold affects virtually everyone needs mold removal as mold affect any surface seen.
- Homes: Especially in the areas where water is frequently used like the toilet and kitchen, molds are seen in such areas and the owners will need your help in solving the problem.
- Industries: Mold can also affect even big industries, so your help might be needed to help contain this problem.
- Schools: Schools can also be affected and this may affect their student if not properly and quickly taken care of.
Advertising your Mold Company
- Write a Newsletter
Newsletters have an orientation focus which is a better approach to advertising than flyers, banners and other mediums. Good newsletters advice customers to progress forward without asking for a sale.
Writing a newsletter when starting a mold company would give a little advantage over competitors.
- Create a Website
A website is important in starting a mold company as it gives the public information on the mold company and its services. Creating promotional ads for your company would also attract customers.
Monitoring the profit of your mold company is very mandatory. When starting up a mold company, your records should contain all the daily incomes from the business which should be compiled to give you a total annual estimate of your profit each year.
Account keeping is a fundamental activity to be carried out. When starting a mold company, the services of an accountant should be employed if account keeping is tedious.
Good Investment or Bad Investment?
The mold remediation business is now becoming so popular that most people who formerly don’t take not of its effect means now paying close attention to it. To start though, you will need a large initial investment.
Staffing must also be done reasonably and can be very expensive. Since mold can affect health most don’t really want to do such work. You need to get a trainer to regularly train the newly recruited ones and as much as your business increases, you will need more workers.
But the pay for your services is very expensive based on the effect of what you are cleaning and a large number of people needed to do the cleaning. So overall, the mold cleaning business is a good investment.
- Seek Good Business Advice
Consult a professional for business advice, might be one who has a successful mold inspection company or a business advisor. Your local competitors might not give you the advice you need, it’s a competition after all.
Every industrialist dreams about starting a company which would be highly successful. However, starting a mold removal company from the ground might not be easy if you just want to wing it.
Starting Mold remediation business is not for your financial benefits alone but for helping the lives of those using your services. As long as you are good and have enough experience, you can survive well as a specialist providing remedies for mold treatment.