Some industries are fun, inventive and inspiring while others are all about the nitty-gritty of doing what needs to be done. The not-so-pretty industry of commercial janitorial services probably falls into the latter category. Though the industry may not get a lot of attention, janitorial services and commercial cleaning enterprises generate an annual revenue of about $35 billion. This dollar amount is not too shabby for an often overlooked, glitz-free business. The commercial cleaning sector includes carpet cleaning, window cleaning, general floor cleaning and polishing, trash removal, air duct cleaning, and much more.
Such janitorial companies provide their services to a range of organizations including hospitals, medical facilities, warehouses, factories, distribution centers, and office buildings. When you think of it, just about every business out there needs to have their facility cleaned so though it may not be a glamorous undertaking, it is certainly one that is not going away anytime soon.
Get Payroll Factoring and Gain Peace of Mind Over Late-Paying Clients
Thin profit margins tend to plague the industry due to high payroll expenses, equipment and machinery costs, and costs of supplies and cleaning detergents. Workers must be bonded and insured and many use company trucks and other industrial-grade equipment to get the job done right and on time.
A commercial cleaning company in Las Vegas, NV was struggling to meet its payroll financing obligations due to office buildings’ clients unexpectedly paying their bills late. The delay negatively impacted the company’s cash flow and management was concerned about meeting payroll.
Fair-Priced Janitorial Services Financing Improves Cash Flow
Business Factors worked with the company to provide a $50,000 line of credit in the form of janitorial services factoring in less than 24 hours. With this fast Payroll Funding, the company didn’t have to worry about not being able to pay their workers on time.
Furthermore the incident made the company realize how susceptible it could be to late-paying customers. It decided to stay a step ahead by using janitorial services factoring on a monthly basis to ensure Payroll Financing would never be an issue again.