Many large companies have recognized the importance of hiring professional service providers to help them run their business. This means that more and more people are outsourcing staff and resources that can help them improve their brand. No wonder, then, that the service industry continues to grow.
In 2018, professional service-based businesses in the U.S. generated an estimated $2 trillion in revenue. It also opened over 9 million job opportunities. Aside from these, research reveals that the professional service industry has a projected trend growth of 5.4% from 2016 to 2020. With this in mind, starting your own service-based business may be a great idea.
With the steady growth of the industry, many people are tempted to grab commercial cleaning franchise opportunities, for one. If you are among those who are still thinking about whether it is best to start your own service-based business, read on for some inspiration.
Affordable Start-up Costs
Unlike selling or manufacturing products, you do not need to spend a lot of time and money in a service-based business. You do not need to learn about complicated factors like shipping, packaging, and quality maintenance, too. You can simply partner up with a franchise company or build your own freelance company. There is no need to shell out a large amount of money for starting your business.
There are tons of business owners who are looking for professional assistance to help them run their operations. CEOs are too busy creating business strategies and making huge decisions for their company that they no longer have the time to handle small tasks such as maintaining the cleanliness of the workplace.
As a result, they find a quick solution, which is to hire professional cleaning services. They tend to rely on outsourced staff and resources to lessen their concerns. So, you can expect not to have a tough time tapping a specific target market because there are many existing companies and businesses that can be your next customer.
Service companies can always customize their offers depending on their clients’ needs. You can offer basic services, which are also provided by your competitors. But, you can always add other services, especially if your clients have unique demands. You can even tailor packages, such as monthly or annual service plans if you want.
Another advantage of running a service-based business is that you can get real-time customer feedback and adjust immediately. You cannot do this with product-based businesses because changing your products will require a lot of planning, strategy, and budget.
With service-based businesses, you can ask your clients what they think about your offers. You can address their concerns immediately by ensuring that you provide better services in the future.
If you want to succeed in the professional service industry, you need to take the basics seriously. Do thorough research about the industry and try to find ways to stand out from the competition. Do not forget to focus on providing high-quality services for your clients rather than just earning more income from your business. Strive to continue improving your services offering customized packages for your clients.