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How to Build a Service-Based Business

May 28, 2019 | 1 comment

Everyone needs to use a service-based business at one point or another. When you offer a service to people, it can be a great business model. It’s all about thinking outside of the box and doing plenty of research. Here are a few tips to help you with your success.

Pick a ‘Hot’ Industry

It’s important to get involved in an industry that’s experiencing a lot of growth. The pest control industry is expected to see over a 5.5% expansion through 2020. Mobile pet grooming, mobile locksmith, and diaper delivery are some of the other services that are growing considerably. You want to make sure you offer a service that’s useful and highly sought after. Much of this will depend on the area you live in. If there are a lot of families in your region, choose a service that’s family-oriented, such as a game truck. If you live in an area where there are many businesses, choose a B2B service, such as mobile massage or tax-form preparer.

Make a Plan

You need to have a plan in place as to how you’re going to build a business. For example, are you going to build from the ground up or are you going to invest in a franchise? There are a number of tips for starting a business. Choose an industry that you’re passionate about. Do your research to make sure that there isn’t too much competition within your locale. From there, establish a detailed business plan, complete with financials, so that you have a guide to help you. It may be necessary to show if you’re going to get a loan from the bank, too.

Become Customer-Centric

Particularly within a service-based business, you need to become customer-centric. Think about ways that you can set up your business so that it’s all about the customer. You want to make it as convenient for the client as possible. You might want to have a mobile or web app that allows them to book online. You’ll also want to invest in customer service training for all of your employees. By developing the culture early on, you can gain a positive reputation in the community.

With service-based businesses growing in popularity, it paves the way to amazing opportunities. Building a business doesn’t happen overnight, so be sure to do your research. Your hard work can end up paying off in big ways.