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4 Ways to Utilize a Loan for Your Pool Cleaning Business
July 03, 2018
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4 Ways to Utilize a Loan for Your Pool Cleaning Business

Summer is here, and that likely means that your pool cleaning business is experiencing a surge in sales. However, even if your business is generating enough revenue to remain operational, you might need additional financing to make enhancements to your business. If you’ve recently applied for a loan, or are considering one, it’s important that you determine how you’ll use it. These decisions can make or break your business’s future.

In this blog post, we’ll reveal four examples of beneficial ways to use a business loan to grow your pool cleaning business!

1. Market Your Services

To gain new customers, you’ll need to promote your pool cleaning business. As you already know, it can be costly to do this. That’s why we suggest utilizing your business loan for these types of expenses. Below, you’ll find examples of marketing efforts that will allow you to reach new clients.

  • Pay for business listings in relevant service directories.
  • Publish sponsored social media posts that reach people in your target demographics.
  • Invest in direct mail campaigns that promote your summer services.
  • Increase your email marketing efforts.

2. Hire More Employees

Having more customers is great, but if you don’t have enough staff members to meet the demand, your business likely won’t grow. Due to this, you should consider using your business loan for payroll. Recruiting, onboarding, and paying employees can be expensive, so having a loan to afford these costs will enable you to hire new staff members without having to make cuts from other areas of your budget.

3. Expand Your Services

If you offer basic pool cleaning business services, that’s great; but there’s always room for growth! Using your business loan, you could start providing landscape services, or add additional pool cleaning options to your repertoire. The more diverse that your services are, the more likely it will be that you’re able to stand out from nearby competitors. If you offer service options that competitors don’t, you’ll probably win over new customers.

4. Upgrade Equipment

The equipment that you use to complete your pool cleaning services can greatly affect the quality of your business. If you’re using outdated or broken equipment, your services will suffer, and customers will likely take their business elsewhere.

Instead of trying to use old equipment, you should invest in new pieces. You could buy or lease equipment using your business loan, depending on your equipment needs. Although equipment can be a considerable investment, having a loan can allow you to remain financially stable.

Next Steps

Now that we’ve covered four of the best ways that you can utilize your loan, it’s time to determine how you can improve your pool services business. Perhaps you want to expand your client base, and spending your loan on marketing costs makes the most sense, or you’re understaffed and could use financing to pay additional employees. Regardless, every business is different, and you should take time to consider the areas of your business that could be developed after receiving a loan!

Fora Financial

Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved, or otherwise endorsed by any of these entities.

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Fora Financial is a working capital provider to small business owners nationwide. In addition, the Fora Financial team provides educational information to the small business community through their blog, which covers topics such as business financing, marketing, technology, and much more. If you’d like to see a topic covered on the Fora Financial blog, or want to submit a guest post, please email us at marketing@forafinancial.com.
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