Monday, 16 April 2018

GOAL SETTING IN YOUR SERVICE BUSINESS

Setting goal's in your service based business is very important, Not only to lay the foundation of where you would like to be in the future but to also draw a map on how you are going to get there. Within my business Wash Rite i have set quarterly goal and yearly goals and 3 yearly goals.

These goals are broken down as follow's.

Quarterly Goal's

  • 5% min growth in revenue across all our franchise's while growing our net profit margin by at least 1.25% each quarter.
  • Raise our client referral rate each quarter by at least 2.5%
  • Lower or Accounts Recoverable payment days average by 2.5% each quarter
  • Average of 1.5 new franchise's launched each quarter
Annual Goal's
  • 20% min annual growth on year before
  • 5 New Franchise's to be launched within the year
  • Client referral to take over our largest client source 
  • Net profit grows by at least 5% but ideal target of 11%
3 Yearly Goal's
  • Be the largest exterior cleaning company within New Zealand, Currently the largest in the south island and second largest in the country.
  • Have a franchise network of 30 plus franchises within New Zealand.
  • Launch the first Wash Rite franchise outside New Zealand. 
As you can see our quarterly goals are very manageable and seem small, But that;s the point, Make your goals achievable and work towards them and soon you will notice your small goals are reached and soon so will be your larger goal's, The only think you have to do is the work required to achieve the goals.

At the moment we are well on the way to achieving our goal, This year alone we have opened up a franchise in Christchurch and they are doing very well servicing there house wash and roof wash clients in Christchurch and we have also started a franchise in New Plymouth who are doing exceptionally well and are almost close to be the market leader in there city.

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