Foreclosure Clean Up: Why It’s Still a Leading Small Business Opportunity for 2011

For the last few years, cleaning businesses have dominated the list of best small businesses to start, according to Entrepreneur, an authority website on entrepreneurship. And it’s looking like this is not going to change anytime soon. All of this makes foreclosure clean up a top small business opportunity for 2011 – and beyond.

4 Reasons Foreclosure Cleaning Remains a Hot Small Business Opportunity

If you’re willing to put in the work, you can grow a foreclosure clean up business as big, or keep it as small, as you want. It remains a very real opportunity for those who are serious about owning a business, for the following reasons:

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I. Commercial Cleaning in General is a Fast-Growing, Top-Rated Business Opportunity

In 2010, according to the above-mentioned website, Entrepreneur, six of the top 10 fastest growing franchises were some type of commercial cleaning firm. They are:

Jan-Pro, No. 1

Stratus Building Solutions, No. 3

Anago Cleaning Systems, No. 5

CleanNet USA Inc., No. 7

Bonus Building Care, No. 8; and

Vanguard Cleaning Systems, No. 10

And it gets even better, in 2010, two of the Top 10 franchises to start were some type of commercial cleaning company (Jani-King and ServPro).

Fluke? Or, are the numbers saying something? Commercial cleaning in general is an evergreen enterprise and the reason is simple: as long as real estate is bought and sold, it will need to be cleaned and maintained.

And, this is exactly what foreclosure cleanup companies do – they trash out, clean up and maintain properties for lenders until they can be sold or rented.

II. Shadow Inventory Represents Opportunity for Cleaning Foreclosed Properties

If you’ve never heard of shadow inventory, you may not realize just how big an opportunity it represents if you want to start a business cleaning foreclosures.

Shadow inventory is simply foreclosed properties, or those that are about to be foreclosed on, that are on a lender’s books that they haven’t listed for sale yet. The foreclosure crisis has banks drowning in foreclosed properties.

One of the main reasons banks keep shadow property is that they don’t

The “shadow inventory” of unlisted bank-owned homes and potential foreclosures increased to 2.1 million units in August [2010], up 10% from one year earlier, . . . That’s around eight months of supply, compared to a five-months’ supply one year ago.

III. Pretenders are Falling by the Wayside

What do I mean by this? Whenever there’s a “hot” small business opportunity, many jump on the bandwagon to make a quick buck. But, once the realize that no matter how sizzling an opportunity is, that running a business is work, many quickly fold up shop.

These are what I call “pretenders.” As long as they think it’s easy to open a business and have the money start to roll in, they’re interested. But, once they see that you have to market, deal with clients, do bookkeeping, etc., they quickly scuttle off to the next “hot” opportunity – always thinking that it’s going to be easier.

It never is.

Foreclosure cleanup is like any other business – you have to work at it to be successful And, a lot of times success means hanging in there – toughing it out longer than the next guy. That’s why being successful is easier the longer you’re in business.

You simply outlast the competition.

And who do the customers they had turn to when they fall by the wayside – you. The real deal. The foreclosure cleanup business owner who remains standing when all the pretenders fall by the wayside.

IV. Foreclosure Clean Up is an Evergreen Business

The beautiful thing about cleaning foreclosed properties is that it’s an evergreen business. As long as real estate is bought and sold, there will be a need for the type of services this type of business offers. For, you don’t have to work on “just” foreclosed properties.

You can with new home realtors who need properties to be maintained, short sale/REO realtors who need properties cleaned out, homeowners who need winterization and other services, etc.

When you own a foreclosure clean up business, you’re in the real-estate services business. And, this can mean everything from repairing sheetrock in homes for resale to replacing locks on homes where owners have been evicted.

And, you can work with realtors, city housing authorities, existing homeowners, short sale specialists, general contractors, etc.

The need for the types of services foreclosure cleaning businesses offer is endless – which makes bringing in the business that much easier.

Related Posts

Stop Foreclosure: The Secret Your Lender Won’t Tell You That Can Help Save Your Home

Foreclosure Cleaning: Why It’s a Leading Small Biz Opportunity for 2010

5 Reasons Foreclosure Cleaning Businesses are Ideal Startups for Realtors

Why Foreclosure Cleaning Companies Will Be Profitable for Years to Come

Learn more about what’s happening in the home foreclosure market right now (making foreclosure cleaning an excellent small business opportunity) in the video below.