7 Types of Service Business You Should Know About
If you are looking for a way to start your own business, you might want to consider a service business. A service business is one that provides intangible benefits to customers, such as consulting, coaching, cleaning, or repairing. Unlike a product business, a service business does not sell physical goods, but rather skills, expertise, or time.
There are many types of service business you can choose from, depending on your interests, skills, and target market. In this article, we will explore seven types of service business you should know about, and how they can help you achieve your goals.
1. Professional Services
Professional services are those that require specialized knowledge, training, or certification. Examples of professional services include accounting, legal, medical, engineering, and architectural services. Professional services are usually in high demand and can charge high fees for their work. However, they also face high competition and strict regulations.
To start a professional service business, you will need to have the necessary qualifications and licenses for your field. You will also need to invest in equipment, software, and insurance. You can market your services through referrals, networking, or online platforms.
2. Consulting Services
Consulting services are those that offer advice or guidance to clients on various topics or issues. Examples of consulting services include business, marketing, financial, management, and IT consulting. Consulting services are often sought after by organizations that need external expertise or a fresh perspective on their challenges.
To start a consulting service business, you will need to have extensive knowledge and experience in your niche. You will also need to develop a portfolio of successful projects and testimonials from previous clients. You can market your services through word-of-mouth, social media, or online platforms.
3. Coaching Services
Coaching services are those that help clients achieve their personal or professional goals through mentoring, training, or support. Examples of coaching services include life coaching, career coaching, fitness coaching, and health coaching. Coaching services are popular among individuals who want to improve their skills, performance, or well-being.
To start a coaching service business, you will need to have a passion for helping others and a proven track record of success in your field. You will also need to obtain relevant certifications or accreditations for your niche. You can market your services through referrals, blogs, podcasts, or online platforms.
4. Cleaning Services
Cleaning services are those that provide cleaning or sanitation services to homes or businesses. Examples of cleaning services include house cleaning, office cleaning, carpet cleaning, window cleaning, and pool cleaning. Cleaning services are in constant demand and can generate steady income.
To start a cleaning service business, you will need to have the necessary equipment, supplies, and transportation. You will also need to comply with local health and safety regulations and obtain insurance and bonding. You can market your services through flyers, ads, or online platforms.
5. Repair Services
Repair services are those that fix or restore damaged or malfunctioning items or systems. Examples of repair services include appliance repair, computer repair, car repair, plumbing repair, and electrical repair. Repair services are essential for maintaining the functionality and value of various assets.
To start a repair service business, you will need to have the required skills and tools for your niche. You will also need to obtain licenses and permits for your area and follow industry standards and codes. You can market your services through referrals, coupons, or online platforms.
6. Personal Services
Personal services are those that cater to the personal needs or preferences of customers. Examples of personal services include hairdressing, massage therapy, pet grooming, photography and tutoring. Personal services are often enjoyed by customers who want to pamper themselves or enhance their lifestyles.
To start a personal service business, you will need to have the appropriate skills and certifications for your niche.
You will also need to invest in equipment, supplies, and facilities. You can market your services through word-of-mouth, social media, or online platforms.
7. Delivery Services
Delivery services are those that transport goods or people from one location to another. Examples of deliveryservices include food delivery, courier delivery, ride-hailing delivery, and grocery delivery. Delivery services are convenient for customers who want to save time or effort.
To start a delivery service business, you will need to have a reliable vehicle, a valid driver’s license, and insurance. You will also need to register with local authorities and follow traffic rules. You can market your services through apps, websites, or online platforms.
These are just some of the types of service business you can start today. Each type has its own advantages and disadvantages, so you should do your research before choosing one. You should also consider your target market, your pricing strategy, and your competitive edge.
Types of Service Business: A Growing Industry
Service businesses are activities that benefit companies or individuals without supplying physical products. They can range from software development to event planning, from consulting to marketing, from health and wellness to personal finance. According to Indeed, there are at least 30 types of business services that offer companies convenience, luxury and expertise.
The demand for service businesses is increasing globally, as more people seek professional help for their personal and business needs. According to NerdWallet, the population of independent, service-based business owners made up as much as 34% of the total U.S. workforce in 2017. This shows that there is a huge market for service providers who can offer quality, convenience and value to their customers.
Some of the most profitable service business ideas in 2023 include:
- Health and wellness services, such as doctor’s office, dental office, hair salon, nail salon, spa, massage therapy, physical therapy, etc. These services cater to the growing demand for health and beauty among consumers who want to look and feel good.
- Business services, such as information technology consultant, law office, marketing agency, software engineering, real estate, financial adviser, graphic design, etc. These services help other businesses improve their performance, efficiency and profitability.
- Personal finance services, such as tax preparation, bookkeeping, financial planning, debt management, etc. These services help individuals and families manage their money and achieve their financial goals.
References:
http://members.byronsharp.com/empgens/emp1.pdf
http://www.aueb.gr/users/esaopa/courses/part2.pdf
https://www.indeed.com/career-advice/career-development/business-services-types
https://www.nerdwallet.com/article/small-business/service-business-ideas
https://getjobber.com/academy/what-is-a-service-business/
https://www.99businessideas.com/service-business-ideas/
https://www.entrepreneur.com/article/80684
https://www.thebalancesmb.com/best-service-businesses-to-start-4176070
https://www.forbes.com/sites/abdullahimuhammed/2017/11/15/50-service-business-ideas/
