It takes an incredible amount of work to start a business, and it takes a lot more to keep an existing business afloat in an unpredictable market. Many resources are dedicated to helping entrepreneurs start their business dreams by providing the proper knowledge and structure on how to write a business plan and secure a business loan. Those resources become limited once you actually start the business and now have to maintain your newfound venture. According to data collected from the U.S. Bureau of Labor Statistics, roughly 20% of small businesses fail within their first year of operation. By the end of their fifth year, that number rises to 50%.
In a report by Investopedia, the four most common reasons why small businesses fail are a lack of sufficient capital, poor management, inadequate business planning, and overestimating marketing budgets. In a survey reported by Fundera, founders of startup ventures cite running out of capital or failure of an established audience that fulfills the demand for your product.
For this Texas-based business owner, he managed to beat the odds and make his business thrive while further expanding his reach.
Dajadt Azakytu is the owner of DAZ Plumbing & Locating based in Waxahachie, Texas. The family-run business has also been focused on providing quality service to its customers with its fleet of 12 service vehicles. The company has now announced that it will be expanding its service area to include the entire Dallas-Fort Worth metropolitan area in addition to Ellis and Tarrant. Its services include sewer line repairs to basic bathroom repairs for commercial and residential buildings.
“We understand that plumbing problems are more than an inconvenience,” Azakytu told Black Business. “They can also be a health and safety hazard, and can do serious damage to your property. Our goal is to provide solutions that protect customers’ safety, health, property, time and money.”
The plumbing company will also now offer services 24 hours a day, seven days a week.