Whether you're hurrying to beat the clock on a night shift or measuring the right portion of concentrated chemicals, you know how important hard numbers are to making a cleaning business successful. Here's a look at some of the less-known facts and figures that may affect your industry and revenue, along with a flowchart designed to cut through the noise and help you identify the insurance policies best suited to keep your business protected.
Which Insurance Policies Do You Need? A Flowchart for Cleaning Services Businesses
Not sure which insurance policies you'll need to protect your cleaning business? Not to worry. Follow this flowchart to get an idea of where your exposures are and which insurance products can keep you protected. Note: every business's needs are different. This chart is only meant to give you a general idea of what businesses in your industry typically need. To find out which policies will keep your business secure, consult with an insureon agent.
71% of Janitor injuries are caused by falling, overexertion, and chemical exposure
In 2010, janitors and cleaners experienced 46,000 work injuries that required them to take time away from their jobs, which means this industry has the 16th highest work-injury rate of all occupations. According to the Bureau of Labor Statistics, janitors and cleaners missed 38,610 workdays because of occupational accidents – a median of 11 days missed per case. For perspective, that’s 3.34 percent of all days away from work for all occupations. Overexertion and chemical reactions caused 41 percent of injuries; falls, slips, and trips contributed to 30 percent of nonfatal injuries. When one of your employees gets hurt on the job, their medical expenses and some of their missed wages can be covered by Workers’ Compensation Insurance.
It costs 8% of a janitor’s median wage to launch a cleaning business.
Entrepreneur magazine estimates that launching a cleaning services business can be done relatively inexpensively, usually for less than $2,000. Considering this profession can expect a median annual wage of $25,140, according to the Bureau of Labor Statistics, those startup costs account for just 7.9 percent of what the business owner can expect to earn in a typical year – an investment that can be recovered fairly easily.
Cleaning services opportunities are projected to grow 12% by 2022
As of 2012, there were more than 2.3 million janitorial and cleaning jobs in the United States, but the Bureau of Labor Statistics predicts that there will be 280,000 more cleaning professionals by 2022 – an increase of 12 percent. The rise in demand is likely thanks in part to the recovering economy: as vacancies in offices fall and families are more comfortable spending disposable income on cleaning services, work opportunities for cleaning businesses will increase. If you’re looking for states with the highest sales in cleaning services, California ($3.4 billion), New York ($2.2 billion), Texas ($2 billion), Illinois ($1.6 billion), and Florida ($1.2 billion) are the places to be.