When a small business owner seeks to expand his business, he employs such services that would assist in effortlessly enlarging his business while keeping costs at a minimum, given the size of his enterprise. Experts believe that in order to reduce costs,
When a small business owner seeks to expand his business, he employs such services that would assist in effortlessly enlarging his business while keeping costs at a minimum, given the size of his enterprise. Experts believe that in order to reduce costs, most companies will resort to cost-cutting measures thereby leading to an increase in demand for these business service providers. Outsourcing a company’s printing needs, or logistics, can cut costs remarkably.
Therefore, if a cartridge refilling business owner outsources his needs he is not only at a cost-cutting advantage but also becomes a part of the green environment drive. And for technology solutions he can avail it from software providers.
Over the past few years the business services segment has emerged in India in categories such as website designing, logistics, brokerage, consulting and refilling. These services have broken the shackles of the unorganised sector to take a place in the organised. The website design sector, as an example, is now fast catching on in India and is presently growing anywhere between $10bn to $20bn. Consumer profile of such services is vast as they are not only targeted towards individuals but also SMBs, SMEs and corporates. In other words these services form a part of the B2B market.
Franchising provides these companies an easy transferable method of their services while keeping their focus on bigger areas of the business. Another notable feature in these segments is their low cost investment which attracts investors to consider them as one of high performing low cost business opportunity.
Service business franchise is not only low in cost but also involves less operational overheads making it best suited during an economic downturn. Emerging as an attractive option, today, business services franchise requires fewer employees, less cost and expansion providing them with more hands to operate thereby capturing more market share.
Business services franchise is especially suited for those who have earlier been involved in business-related work. Being services providers these businesses have to keep abreast with the changing market conditions and technological requirements so as to serve their customers better. Focusing on the outsourcing model these services help businesses cut costs in these challenging times.
The business of brokerage is not confined to serving only the role of the middle men, it has, in fact, undergone a sea change in the last decade which is now become more transparent, thanks to the coming of organised players in the sector.
In the following pages TFW presents some of the best-performing industries in business and financial services domain with a special feature on how training makes a difference in this business and on how to franchise a service business.