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It might not actually be a precious metal but in some parts of the world snowfall is a sight that is very welcome if you run a snow removal business and because it can be such a profitable service, this is why it has earned the nickname of “white gold”.
If you are in an area where there are some opportunities to harvest this so-called white gold and offer a valuable snow removal business, here are some of the pointers for profiting out of what falls out of the sky.
Many strings to your bow
Unless you are somewhere near the Arctic Circle you are not going to be able to offer snow removal all year round, but in terms of building a series of profitable revenue streams, if you have a vehicle like the RAM 3500 pick-up truck, for example, snow removal is just area where there is money to be made when you get behind the wheel.
On average, you might expect to earn about 30% of your annual revenue from snow removal, which can add up to a significant chunk of cash.
The key to building a profitable business is to be able to adapt to customer needs and offer a range of services that can keep you and your truck busy all year round. You will probably find that you can make a natural progression from offering services like lawn care and general maintenance to offering a lot of those same customers a snow removal service when they need it.
If you are already a green industry professional you are already well positioned to jump into the snow plowing business and enjoy a potentially lucrative income from snow removal.
Tools of the trade
You have several options when it comes to how you tool up for offering a snow removal service and it depends on whether you are going to be serving homeowners who need their driveway clearing or commercial customers who need parking lots cleared.
A snow blower and shovel are essential items if you are going to be serving residential customers but you will need to rig your truck with a snow plow if you are going to be tackling larger jobs.
You will also need an open-top trailer for your truck if you are going to be offering a complete snow removal service which includes taking away the snow you have gathered up with your plow.
Get all the paperwork done
If you are already running a business you will already have your registration and licensing requirements sorted but it is a good idea to check whether you have to add extra coverage on your insurance or extend your permits for doing this sort of work in your area.
Liability insurance is a priority if you are going to be offering a snow removal service.
You don’t want to mistakenly damage a customer’s property and discover you don’t have the right insurance coverage in place to deal with any subsequent claim.
If you follow these simple steps you will be ready to run a snow removal business and all it needs now is some of that “white gold” to start falling.