The portable toilet business is growing across the world, despite the millions of them that are currently in operation. This is because the world continues to need more portable toilets. From an outdoor event, to a construction site and everything in between, there are many reasons someone will seek this business out. Continue reading to learn how to start your own portable toilet business and find out if it is right for you.
There is more to starting a business than just registering it with the state. We have put together this simple guide to starting your Portable Toilet Business. These steps will ensure that your new business is well planned out, registered properly and legally compliant.
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A clear plan is essential for success as an entrepreneur. It will help you map out the specifics of your business and discover some unknowns. A few important topics to consider are:
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You will need a large amount of cash up front to start your portable toilet business. Tools, equipment, and a storage facility are essential. Additionally, cleaning chemicals, cleaning supplies, toilet paper, soap, and deodorizer will be needed for toilet maintenance. It would be best if you also had a truck to haul portable toilets.
You need a constant supply of cleaning chemicals, which is a large expense for your business. You also need a deodorizer for the portable toilets. In addition, you need to maintain all of your toilets, as well as whatever vehicles you have transporting them. You may also need special cleaners to remove graffiti from the portable toilets.
One of the great things about a portable toilet business is you have many different target markets. You want to know which market is yours so that you can appeal directly to that market. In addition, there may be a few target markets that are closely related, which can allow you to hone in on that group. Some obvious target markets are construction workers and construction sites, those creating fundraising events, concert venues, food festivals, trade shows, and event planners for outdoor events and venues.
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The main way you will make money in the portable toilet business is by renting out toilets for a certain period of time.
The average rate is about $175 to $225 for a 24-hour rental of a portable toilet. If you want to offer a monthly service, you can expect to charge anywhere from $175 to $500 per month for each portable toilet. The price varies based on the type of toilet you are providing.
While most of your money is made by renting portable toilets, there are other ways you can bring some extra revenue into the business. You can offer pumping and cleaning for portable toilets, even if they are not your toilets. Furthermore, consider partnering with event planners who will use your business while they plan large events for clients.
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Choosing the right name is very important. Read our detailed guide on how to name your business. We recommend checking if the business name you choose is available as a web domain and securing it early so no one else can take it.
Establishing a legal business entity such as an LLC or corporation protects you from being held personally liable if your Portable Toilet Business is sued.
You can form an LLC yourself and pay only the minimal state LLC costs or hire one of the Best LLC Services for a small, additional fee.
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Recommended: You will need to elect a registered agent for your LLC. LLC formation packages usually include a free year of registered agent services. You can choose to hire a registered agent or act as your own.
You can acquire your EIN for free through the IRS website, via fax, or by mail. If you would like to learn more about EINs and how they can benefit your LLC, read our article, What is an EIN?.
Learn how to get an EIN in our What is an EIN guide or find your existing EIN using our EIN lookup guide.
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Depending on which business structure you choose, you might have different options for how your business will be taxed. For example, some LLCs could benefit from being taxed as an S corporation (S corp).
There are specific state taxes that might apply to your business. Learn more about state sales tax and franchise taxes in our state sales tax guides.
When your personal and business accounts are mixed, your personal assets (your home, car, and other valuables) are at risk in the event your business is sued. In business law, this is referred to as piercing your corporate veil.
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Additionally, learning how to build business credit can help you get credit cards and other financing in your business's name (instead of yours), better interest rates, higher lines of credit, and more.
Net 30 accounts are used to establish and build business credit as well as increase business cash flow. With a net 30 account, businesses buy goods and repay the full balance within a 30-day term.
NetMany net 30 credit vendors report to the major business credit bureaus (Dun & Bradstreet, Experian Business, and Equifax Business Credit). This is how businesses build business credit so they can qualify for credit cards and other lines of credit.
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Recording your various expenses and sources of income is critical to understanding the financial performance of your business. Keeping accurate and detailed accounts also greatly simplifies your annual tax filing.
Just as with licenses and permits, your business needs insurance in order to operate safely and lawfully. Business Insurance protects your company’s financial wellbeing in the event of a covered loss.
There are several types of insurance policies created for different types of businesses with different risks. If you’re unsure of the types of risks that your business may face, begin with General Liability Insurance. This is the most common coverage that small businesses need, so it’s a great place to start for your business.
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Another notable insurance policy that many businesses need is Workers’ Compensation Insurance. If your business will have employees, it’s a good chance that your state will require you to carry Workers' Compensation Coverage.
Your brand is what your company stands for, as well as how your business is perceived by the public. A strong brand will help your business stand out from competitors.
If you aren't feeling confident about designing your small business logo, then check out our Design Guides for Beginners, we'll give you helpful tips and advice for creating the best unique logo for your business.
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If you already have a logo, you can also add it to a QR code with our Free QR Code Generator. Choose from 13 QR code types to create a code for your business cards and publications, or to help spread awareness for your new website.
Once you have decided on your market, you can determine what type of portable toilet works best for that group. If your target market is construction workers, then the basic, no-frills portable toilet is the best choice. If your target market is outdoor weddings, then you want to consider an outdoor restroom. You want to market and appeal to each particular market differently. While the form of communication can be the same, such as emails or flyers, you want to change the messaging for each group.
You want to retain customers by providing quality service and sparkling clean portable toilets. You can attract customers by word of mouth. If you can get in with a particular venue that has a large number of outdoor events, you may be able to provide portable toilets for all events. You want to remain professional and provide excellent customer service.
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Still unsure about what kind of business you want to start? Check out the latest Small Business Trends to help inspire you.
While creating a website is an essential step, some may fear that it’s out of their reach because they don’t have any website-building experience. While this may have been a reasonable fear back in 2015, web technology has seen huge advancements in the past few years that makes the lives of small business owners much simpler.
Using our website building guides, the process will be simple and painless and shouldn’t take you any longer than 2-3 hours to complete.
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Getting a phone set up for your business is one of the best ways to help keep your personal life and business life separate and private. That’s not the only benefit; it also helps you make your business more automated, gives your business legitimacy, and makes it easier for potential customers to find and contact you.
There are many services available to entrepreneurs who want to set up a business phone system. We’ve reviewed the top companies and rated them based on price, features, and ease of use. Check out our review of the Best Business Phone Systems 2023 to find the best phone service for your small business.
Phone.com is our top choice for small business phone numbers because of all the features it offers for small businesses and it's fair pricing.
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