Starting a service business is one of the most lucrative businesses that can be run from home. The old tradition of home makers doing the cleaning and maintenance of their home is becoming old quickly. Every house needs maintenance or cleaned thoroughly. Since no one is willing to take the garbage out or dust, service jobs are aplenty. This means that the market for service businesses is big and expanding rapidly throughout the US.
Although you can start a business on your own, it comes with the risk that you will fail with in the first year of starting. Home owners will look at the name brand services or listen to recommendations from friends for a service business. Your best bet for a service business is through franchising.
A service franchise will ensure you financial support for advertising and marketing of your business from your franchiser, the dealer you are buying the franchise from. The initial investment required for buying a service franchise is low – that of around $25,000 dollars. Franchisers will also provide you with the requisite training required to run your business. And you will have the support of a brand name to help expand your business.
There will be a need for running capital for the first few months for expenses such as telephone bills, supplies, and salaries to employees. You can pay your employees a percentage of your earning from every job, from 30% to 40%, or you can pay them an hourly rate of around $7 to $10 dollars an hour. Other than this, the expenses should be minimal if you keep a close eye on the bottom line.
As an example, the average rate for cleaning a three bedroom home is between $50 and $150 dollars. This means that if you cleaned five houses a day, you are looking at between $250.00 to $750.00 dollars a day gross. That means with a well run business, one that budgets for a 24/7 work week, gross monthly income will range from $5,000.00 to $15,000.00 dollars.
The longer you are in business the larger your business will become. The number of regular clients will increase, and you will become establish quicker. If you do not have enough capital to sustain this business for the first year, consider taking out a business loan. You just need to select the right franchiser for yourself your service franchise. Remember, franchising is the best kept secret of the 21st Century.
Edward Dean is an accomplished website developer and author. To learn more about Service Franchises [http://maidservicefranchising.com/service-franchises] visit Maid Service Franchising [http://maidservicefranchising.com] for current articles and discussions.
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