7 Benefits of Building a Service Business
There are many benefits to building a business in the service industry. This article will share a few examples about why you may want to start your own small business.
1. You Get to Be Your Own Boss
If you’re sick of taking orders from others, you could begin doing your own jobs part-time on the side until you are generating enough income to go full-time on your own. “Once you are creating enough income working part-time you can fire your boss and exit the employee trap.”
2. You Set Your Hours
Are your business hours 8am – 4pm? Or do you prefer 9am – 5pm? Do you work weekends too or just weekdays? Or would you rather have a part-time schedule like Monday, Wednesday, Friday?
In the beginning you may end up working a little late on some jobs because you would rather get them done rather than come back to finish the next day.
With time you can become more efficient at doing your line of work and be finished early enough to be home by 3:00pm or even sooner depending on the size of the job.
3. You Set Your Vacation Time
You get to create your own schedule, which means you can book time off when you choose to. If you want to take a week or two off, be sure to book it off in your calendar and make plans to go away on a vacation.
Vacations are important times for spending quality distraction free time with your family. Vacations enrich, inspire, open you to new experiences, places, cultures, foods, etc.
In the past I never used to go on vacations, yet since I married my wife I see how important it is to make time for vacations at least once or twice a year.
4. You Set Your Prices
At first it may take some time/trial & error to learn how to price jobs. As you do more and more quotes for your services, the quoting process will gradually become easier. In time you will become a pro at quoting jobs and emailing them to your customers.
In the beginning you may need to price your jobs a little lower to be sure to get new clients. As you build a regular clientele list and are generating more and more new clients, it may be a good idea to gradually increase your minimum call out price as well as your prices for your services.
5. You Set Company Policy
Remember that this is your business and you get to set company policy. This means you can set terms and conditions. Is your invoice due to be paid in 0, 10, 20 or 30 days? What is your minimum service call rate? What services do you offer and what is your policy in the case of potential damages?
It would be a good idea to eventually create a terms & conditions document and either attach it to your invoices, quotes and/or website so you are transparent about your business policies.
6. You Get to Promote Your Own Business (Rather than someone else’s)
When you do quality work for people, they will see your value and happily pay you for it.
Being professional in how you dress, behave, and run your business will go a long way in building a good reputation in your area.
By being trustworthy, people will also refer you to their friends and family.
You get to pass your card along to people you meet and share your valuable services in your community.
You can also create your own website that will generate hungry customers for years to come and be recession proof.
7. You Can Choose Where You Work
You get to choose your service area. How far are you willing to go? 10, 25, 50 km’s/miles? What cities will you work in? Can you work from home in your line of work?
These are some of the benefits to having your own business. What are some benefits can you think of? I’d love to hear your thoughts in a comment below.