5 Ways to Build a Recession-Proof Pool Business

By establishing a recession-proof pool business, you can maintain profits and continue to scale despite an economic downturn.

Discover some of the top expert strategies to develop a recession-proof pool business by:

• Stretch budgeting farther by minimizing spending
• Conquering ambitious goals and maximizing profits
• Offsetting profit loss by prioritizing essential services
• Accounting for inflation by reassessing goals and rising costs
• Streamlining operations by utilizing the #1 pool service software

When you develop a recession-proof pool business, you can secure your business’ long-term success to continue growing and increasing profits in the middle of a recession.

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1. Minimize Spending With Budget Cuts

Maximizing your budget and minimizing spending allows you to stretch spending farther to make the most of a limited budget.

By focusing on the important areas with the highest ROI (i.e. return on investment), you can maximize profits during a recession.

Consider these areas when evaluating your budget:

• Assess profitability issues
• Consider a remote workforce or downsized office
• Keep only essential employees and reduce payroll
• Minimize overhead costs (e.g. automate daily tasks with software)
• Decrease unproductive labor (e.g. long trips to the gas station, prolonged breaks, etc.)

Also, meeting with a trusted CPA (i.e. certified public accountant) can provide expert financial advice to help you make the most of a limited budget and continue to scale.

2. Create New Goals That Account for Inflation

In order to develop ambitious, realistic goals to establish a recession-proof pool business, you’ll have to take inflation into consideration.

Inflation peaked in June 2022 at 9.1%. In other words, if you didn’t account for inflation in your goals during this time, then you could hemorrhage profits out of your business.

Consider these elements when accounting for inflation:

• Maintain competitive compensation for crews to maintain retention
• Reevaluate goal setting based on the current state of the volatile economy
• Increased cost of chemicals and equipment (e.g. look into affordable alternatives)

Remember, taking inflation into account allows your pool service business to offset increased costs to continue scaling with maximized profits.

As always, consult your CPA to confirm these goals.

3. Maximize Profits By Raising Prices

After adjusting your goals to account for inflation, you’re ready to recalculate prices.

To start, you’ll want to reassess every client’s price to ensure they’re meeting your new profit goals.

However, instead of spending endless hours manually calculating each client’s price, you can quickly view every client’s individual profitability using Service Autopilot.

As always, check with your trusted CPA before performing a price increase. They’ll be able to ensure you properly price services for the most profit.

Then, you’ll want to raise prices on clients who aren’t meeting your new profit goals.

Although, it’s important to avoid a price increase during peak selling season. If possible, it’s best to raise prices during the off-season.

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4. Stay Current on the Latest Trends

Staying current on the latest industry trends is one of the best ways to build a recession-proof pool business during a rough economy.

Use these top strategies to keep up with the latest industry trends:

• Join an industry group of experts
• Utilize a growth-focused field service conference
• Connect with pool industry entrepreneurs at industry trade shows
• Become a member of an elite network of nationwide field service businesses

Ignite new ideas, troubleshoot problems, and discover innovative strategies by connecting with like-minded pool industry entrepreneurs.

5. Create a Recession-Proof Pool Business With the Best Software

One of the best ways to build a recession-proof pool business is by utilizing the #1 pool service software to:

• Automate daily tasks
• Maximize profits and time
• Streamline everyday operations
• Free up time to focus on higher level tasks
• Minimize double-data entry and reduce errors
• Push past your biggest bottlenecks and growth ceilings

Additionally, Service Autopilot gives you the opportunity to:

• Quickly bulk invoice
• Instantly optimize routes
• Track chemicals and assets
• Automate same-day payments
• Simplify and automate marketing
• Generate rapid, on-the-go estimates
• Track crews and job progress in real-time
• Find and fix profit holes with business reports
• View client accounts and notes from anywhere

Access limitless growth and success when you choose Service Autopilot. Use Service Autopilot to establish a recession-proof pool business today!

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Establish a Recession-Proof Pool Business Now

Knowing how to create a recession-proof pool business allows you to:

• Maximizing spending
• Meeting ambitious profit goals
• Increasing profits using current clients
• Focusing on essential services to offset profit loss
• Maintain scalability and continued growth using the #1 pool service software

Start utilizing these pro strategies to develop a recession-proof pool business for long-term success and future growth!

Related: How to Successfully Complete a Pool Service Price Increase

Originally published May 5, 2023 11:42 AM CT