Buying Pool Routes: Tips, Tricks, and Lessons Learned
Are you looking to get ahead in the pool service industry? Buying a pool route can be a great way to jumpstart your business and gain a competitive edge. However, it’s important to be smart about who you buy from and how you buy it. In this blog post, we’ll cover some advice, mistakes, and lessons learned when it comes to buying pool routes.
What is a pool route?
A pool route is a list of clients that a pool service company services on a regular basis. When you buy a pool route, you’re essentially buying a list of clients that you can service and earn income from.
Tips for buying a pool route
- Do your research: Before buying a pool route, research the market and the competition in your area. Look for routes that are in areas with high demand and low competition.
- Buy from a reputable source: Whether you’re buying from an individual or a brokerage company, make sure you’re buying from a reputable source. Check reviews and ask for references.
- Assess the value: When evaluating a pool route, consider factors such as the number of pools, the monthly service revenue, and the location. The industry standard is a sliding scale based on a multiple of the monthly service revenue.
- Consider financing: When buying a pool route, you can either buy it outright or finance it. Financing can be a good option if you don’t have the capital to buy it outright.
Mistakes to avoid
- Buying from an unreliable source: Don’t buy a pool route from someone you don’t know or trust. You could end up with a list of clients that are difficult to service or don’t pay on time.
- Overpaying: Don’t pay more than the route is worth. Make sure you assess the value and negotiate a fair price.
- Not doing your due diligence: Before buying a pool route, do your due diligence. Research the market, the competition, and the seller. Make sure you’re making a sound investment.
- Sales skills are important: Even if you buy a pool route, you still need to sell yourself and your services to the clients. Don’t underestimate the importance of sales skills in the pool service industry.
- Organic growth takes time: If you choose to grow your business organically, be prepared for it to take time. It can be difficult to get a bunch of accounts overnight, especially in a saturated market.
- Swapping accounts can be efficient: Consider swapping accounts with other pool service companies to build efficiency and minimize travel time between stops.
In conclusion, buying a pool route can be a great way to get ahead in the pool service industry. However, it’s important to be smart about who you buy from and how you buy it. Do your research, assess the value, and avoid common mistakes. With the right approach, buying a pool route can be a smart investment that pays off in the long run.
Contact Sealey Business Brokers to learn more about how we can help you make a splash in the world of Pool Routes!