As the name implies, service businesses are enterprises or organizations that deliver services to benefit customers. Examples include plumbing, pest control, lawn care, painting businesses, among others.
Service businesses require focus, finances, and time to start and stay in business. This kind of business can be gratifying if you render quality service. In turn, you’ll have good customer reviews. On ReviewsBird.com, you’ll get an insight into the importance of clients’ reviews in service businesses.
Here are the steps you should take in order to start up a service business in the United States.
1. Write down your business plan
Even if you think you’ve got everything figured out, it is advisable to have a written business plan. Your plan should contain the following:
Ø How you intend to ‘sell’ yourself
Unlike product business, service business is all about identifying the skills you have that people are willing to buy and pay for. If you don’t know what business to start, you can think of something you’re very passionate about or something you’re good at, or something you have easy access to.
Ø Reasons you want to start this business
This may seem like something you should overlook, but you should include this in your plan. Businesses come with challenges, and you’d easily overcome them if you go through the reasons you needed to start the business in the first place. It’ll serve as your source of motivation.
Ø Research on things customers want
It’s human nature to want things, take advantage of them, and trends to see what customers would like to pay for. Make your business offer this service.
Ø Identifying competition
Please find out the various businesses that offer similar services to yours, identify their weaknesses, and find ways to capitalize on them.
After writing out your plan, you can choose to get friends to review it or edit it later.
2. Make sure you have enough capital
You need money to make money. Before venturing into a business, make sure you have enough capital to start so you can meet requirements. Several businesses require little capital to start up, such as house cleaning services, bead making, etc.
3. Register and set up your business
To register your business in the United States, you’ll need to
a) Pick a name for your business
b) Know your pricing strategies
c) Open a bank account for your business if you don’t have one
d) Register with state and local governments. File for a federal tax ID if you want trademark protection.
You might not even have to register your business if you conduct your business as yourself. However, there are benefits for registering, such as tax and legal benefits and personal liability protection.
4. Employ people to work for you or create partnerships
At the start of your business, you could gain experience on your own at first. Calculate your profit to determine how much you’ll pay your future workers. If this business requires a lot of hard … Read More...