Do you have a special skill or an area of expertise? If yes, starting a service business can be profitable for you. For those who don’t know, the service business is simply an organization that offers a unique service to customers. Ad agencies, house-cleaning services, salons, accounting firms are a few examples of service business.
So, if you have some good skills and want to start a service business in 2019 have a look at how you can start with it.
Create a Website:
We are living in a digital world. Therefore, having a website is a necessity now to initiating a service business. A website is a powerful tool that improves the productivity of business in various manners. It improves your advertising effectiveness and helps you reach potential customers. If you don’t want to invest that much in building a website you can go with WordPress.org. This is one of the cheapest DIY options to create a website. You will just need to buy a domain name and a hosting plan.
It is advisable that you pick a renowned hosting company so that your users don’t have to deal with issues like slow loading pages, unnecessary downtime, etc. If you don’t know how to find the right one go through some reputable review sites to find out a good hosting company.
Choose The Right Business Name:
Remember that, every service business that is successful is good at differentiating itself in the world. So come up with a good yet unique name.
Most people use their own name for their service business. We know it is tempting to use your own name. However, if you want to stand out, you must try something catchy and creative. A few good examples that we would like to mention are: Expansion Pack (Recruiting Service) Magic Pixies (Cleaning Company) The Lash box (eyelash extensions)
Don’t Forget to Check the Trademark:
Make sure the business name you have picked is not trademarked or being used by any other business.
Get your business Registered:
Starting a service business also requires you to get your business registered.
Come to know if your province needs you to register your business. If yes, visit the official government site to find out what steps you need to take. Always get an appropriate license.
If you need to consult a lawyer or professional to get registration, don’t hesitate to do it.
Make a Logo:
For most people, it is a fun part. We would suggest you start with taking inspiration. Take a look at the logos of businesses that are similar to yours. Make sure you have a clear and simple logo. After all, simplicity rules when it comes to creating an impressive logo.
Open a Business Account:
It is true that a business bank account charges more fees than a general or personal bank account still you should go for a business bank account. The reason is by having a separate account for your service business, it will be easier for you to track expenses and revenue right from the beginning.
Moreover, keeping business and personal accounts separate is beneficial in the long run, especially at the time of tax paying. Additionally, you can connect your business account to payment services like PayPal, Stripe, etc. without any hassle.
Look for a tool to track your finances:
Before starting a service business you should arrange a tool to track your finances. Figuring out your financial process from day one will help you calculate the financial health of your business. Moreover, it helps you ditch your common financial burdens.
According to a study by the American Psychological Association, the vast majority of people in America reported feeling stressed about money during the past month. So, get a good tool and do not let this situation control your life.
QuickBooks, PlanGuru are two renowned tools.
Make Sure That Users Will Pay for Your Service:
It is quite crucial for the success of your business. To make it happen, do enough market research, understand and learn from your business competitors. Also, learn as much as you can about your target audience and future clients. It will help you plan on marketing as well.
Market Your Services:
To make your service business big you must promote your products and service on the right platform. You can start with adding your business listing on popular site such as Yellow Pages, Yelp. Google My Business, etc.
In addition to this, you can also try hanging signs in local shops of course with the owner’s permission. You can also post your service on Craigslist and offer discounts to attract new customers.
To reach your audience, you should integrate your website with the popular social media networks such as Facebook, Instagram, Twitter, etc.
Don’t forget that starting a service business takes a lot of preparation, market research, and funds. So, before you start, take them into consideration.