In order for a business to remain functional and successful, it is dependent on other businesses to serve and supply them properly.
Operating a business service franchise can be a safe investment for a first time franchisee. It usually comes with a guaranteed high end client base that allows a lot more freedom and financially security from the beginning.
There are many different types of business services that one might consider, but they all contribute to other companies and consider the business market their main clientele which generates more money than an individual customer and usually purchases in bulk.
This is one of the most successful business services available for franchise. Every type of business has to remain clean and the bigger the company, the more likely they will hire outside to keep in tip top shape. A lot of these franchises come packed with automatic clientele within that area like hotels, office buildings, restaurants. If a franchise you are considering has a contract with a chain of establishments, you’re likely to pick up their business in your location.
A negative aspect of the cleaning franchise is the afterhours. People tend to rent out services once their doors are closed. Sometimes a hired staff will perform most duties, but a franchisee may have to make themselves available afterhours depending on the situation.
Though the cleaning industry is expected to hit $175 revenues in the next three years, it only accounts for 10 per cent of total revenues that occur in the franchising industry. It packs a mean financial punch but there is not a variety of choices for those interested in this field.
A lot of businesses will seek out professional accountants to help with payroll and budgeting, as well as tax processing. Companies want to depend on others to keep them in line and make financial predictions to insure successful outcomes.
Again, accounting firms usually have a set of clients that could benefit a franchisor from the beginning of set up. It would be beneficial to have a background or training in the field but it is not always necessary. Though employees may take a hefty annual salary, there is not a large staff. Individuals are able to take on many clients at once.
A franchisor will compete with a smaller private business, which can be an issue if that business is well-recognized in the community.
Packing and Shipping Services
Some shipping services can be extremely successful and profitable. For example, Fedex and UPS are some of the most successful franchises. It is very rare that a company will have their product depend on a privately owned shipping company. All businesses, especially any form of retail is dependent on shipment in order for them to make product.
Though this industry suffered with online communication and less physical mail being shipped, it has a $4 billion dollar revenue and a lot of franchises have a secure and established brand across the country and internationally.
Maintenance and Repair
Companies are not likely to have a professional maintenance service on site. Demand for repairs comes when a problem arises, rather than a part of everyday tasks. As an emergency arises, some business will seek out a professional on an individual basis but bigger companies prefer to have a reliable and secure contract with a well known franchise.
It’s important to hire the proper staff and it’s beneficial to have some background knowledge in the area.
Rather than purchase supplies at retail value, businesses work with a supplier to help provide non-profit items, such as cleaning products, sanitary products, office supplies and so much more. Again, this field usually has established chained customers.
This type of services usually offers a great schedule because though it is based on demand, franchising can set up their services online and ship them out at their earliest convenience. The franchise can set restrictions on companies about when orders can be placed. However, it can be risky because the supplying industry is competitive and a contract usually has to be secured. Choose a franchise that has a lengthy resume of clients and a lot of experience.
Nowadays a company cannot function without electronic communication and services. Though it is a part of everyday life, most businesses rely on another company to supply support and repairs. Businesses need to stay up to date on all advancements in technology to continually please their immediate customer base and produce successful and time efficient results.
Though technology usually makes our lives easier, they have a tendency to require updates and repair.
A background in this field would be helpful but maintenance and installation can easily be learned and training is offered by the franchisor.
A downfall with tech services is the 24 hour presence. Though it’s easy to gain customers outside your location, due to time differences services must be offered throughout the day to accommodate clients’ needs. Technology is continuously changing and franchises in this field would have to remain updated to service their clients and stay ahead of the competition. That being said, franchisees will find themselves in continuous training sessions.
When stepping into the field of franchising, business services is safe and usually comes with a decent amount of established clients. Franchisees have to deliver and perform the services of the upmost quality to keep clients, be consistent with the franchises model and lengthen contracts. Training and support staff is easily accessible and if followed properly can lead to success without a lot of time consumption for the franchisee.
ABOUT THE AUTHOR: After receiving an English Degree, followed by a Journalism Diploma, Gina Gill became a freelance journalist in 2008. She has worked as a reporter and in communications, focusing on social media. She currently works as a community information officer with Epilepsy Society, while pursuing her writing career at the same time.
Look out for our next special feature: HEALTH AND BEAUTY Franchising