Servicing Business

Transcription

1 Servicing Business Average Capital Requirement: Zero Capital Summary: Servicing business is a business you do not need large capital to start and you can make as much as N200,000/month, and even more depending on how you can market what you have to offer.

2 Introduction: The whole idea of servicing business is to sell your service to individuals, small firms and/or big corporations who are in need of it. Anyone can sell service, depending on your versatility, talent, competence or past experience. What comes to you naturally might be the same thing others find difficult to do, so you do it for them at a profitable price. Example of services you can sell includes: Procurement service: Helping people or organizations to buy things Supply service: Supply people or organizations with their needs and get paid Teaching or consulting service: Teaching people or company your special skill for money Errand service e.g. cleaning and facility management service, delivery service, proposal writing, business development service, tour packaging service etc. Entertainment service: e.g. Disc Jockey (DJ), life band service, Master of Ceremony (MC), event planning service etc. Marketing service: Setting up of marketing service outfit to help market or sell other people s products and services. Fashion service: Designing, tailoring, cresting, printing etc. Maintenance service: This include the generator, motor, air-condition, electrical maintenance and servicing. Nutrition Service: If you are a nutritionist, you can have nutrition service for children, aged, people with special needs etc. Security service: Security of houses and companies, security training on how to prevent cybercrimes etc. Required Resources Assets Having the service you want to sell Personnel You alone for a start Capital

3 Zero capital Required Skills Expertise in the chosen field of service (you may have to learn few things from an already established hand) Knowledge of business writings such as proposal writing, quotation writing and invoicing Good negotiation skill Full description of Operations Business operation Depending on the chosen field the business operation differs, however there are some basic service requirements. 1. Identify the service you want to offer: As earlier listed, there are different types of services you can render based on your core competence. So you have to decide which one you want to go for. For instance, if you are good at haggling and getting things fast, you can go for procurement or supplies; if you once had experience with training and development, you can sell consulting service etc. 2. Identify your target market: There are three main targets for servicing business; individuals, small firms and big corporation. You have to decide which one(s) you want to service, depending on your level of competence and confidence. Nature of your target may have effect on whether you will require registration or not. Usually for individuals and small firms no registration is required however big corporation may require evidence to prove you are who you claim you are and can provide the service you claim you can provide. 3. Decide on business type: You have to decide if the business is going to be a full time, part time, weekend job or seasonal job. This will help you strategize and focus your service.

4 4. Fix your business operation and prices: You have to draw your business plan, fix your prices, payment structure and duration. You can ask from those already established in the field, to have an idea of the operating price while you set up your own business in such a way that you can break into the market. 5. Marketing of your service: Since you have identified your target market, marketing them becomes easy. You can use one on one approach, distribution of fliers, online adverts and/or referrals. 6. Getting job request and execution: To get jobs most people or companies will require your business proposal and/or quotations depending on the service, if it falls within their budget you get the job and advance payment (depending on payment schedule). Upon execution of the job, you get your balance of payment and the deal is done. Objectives Providing service to people or business who can afford it Selling of service which emphasizes your area of competence Identify businesses that requires your service and providing it profitably Benefits It does not require any large capital to start Business hours depend on your choice of business type; full time, part time etc. You have a business of your own and your future is in your hands Possible Limitations and solutions Same as starting every new business; the start might be slow, especially getting customers at first but with persistence, people identify you with that particular service and with good referrals you become a household name. Financial Analysis

5 Cost The start-up capital is estimated as next to zero, however some little expenses can come up along the way, such as Cost of training: In some cases, aside from being good at something, you also need on job experience to help you understand better how such services are executed. Some may require you pay to learn while others may actually pay you to be an intern. Cost of business writing/documents: You can get prototypes of documents that maybe required of you online, such as proposals, quotations, invoices etc. However, if you choose to have someone develop it for you, it may attract extra-cost. Cost of Marketing: Marketing always come with a price whether it is printing fliers, one on one meetings or online marketing, it will always come at a price which usually is negligible considering the returns expected. Revenue Revenue is based on the number of jobs you get on monthly basis; this can grow exponentially from the word go, depending on your marketing strategy and service delivery. With a gross profit of between N5000 and N100,000 on a single transaction, you can comfortably earn over N200,000/month. Future Forecast Prospects The service business has tendency to grow into a big service delivery business. You just have to channel your energy into growing your business and through the growing stage, you will need to persevere. Conclusion Service business revolves round selling your competence profitably. Things you think come naturally are same things others find difficult to do and would be ready to pay to have you do them. So be proactive and take advantage of the large market that awaits your expertise.

6 References For Service consultation contact us via mail at or call within hours Note that this may attract service charge.