Considering how busy people are these days, setting up a concierge service can turn out to be a very lucrative business. A concierge business enables clients to optimize their time by outsourcing their most daunting tasks. People rely on concierge services to handle personal and delicate information. Building a concierge service will require planning, effort, time and capital. A solid reputation and dependability are the essential for a thriving concierge business.
Building a Concierge Service Business
Create a business plan. To be successful in this business a plan needs to be in order. A business plan with a break-even analysis, pro-forma financials, and a marketing plan I are critical. Be sure to include startup cost.
Find Financing. Cash flow is the lifeblood of a small business. Determine whether a loan is needed in order to start the business, or whether the startup costs will be financed out of pocket. This information can be taken from the startup information done in the business plan.
Get pricing. Inquire at local concierge services about pricing on various services. This knowledge can be used to set prices for services. Beat the competition by offering better deals to potential clients. There is printed material to assist in pricing concierge services.
Setup a website.Setting up a website will lead to more business. The Internet is the first place that millions of people go to shop and seek out products and services. This task is simple to outsource.
Market the business. Marketing is critical. There are many ways to go about it. The business website can facilitate and generate clients for the business through pay per click ads. Many search engines and social networks offer this service at a low price. Business cards are essential. Another great way to market is through billboards and flyers.
Setup contracts. This can be done by contacting local hotels and condominium owners and propose a plan to generate additional revenue for them. For each client they refer to the business offer them a referral commission. Hotels like to make sure that their guests are satisfied. This will be appealing to them because having a concierge service will enhance their customer’s stay.
Screen and hire employees. Hiring employees can leverage time and generate more revenue. Potential employees should undergo background checks, credit checks, and have recent referrals. They should go through a test that require them to complete concierge tasks. Their performance should meet and exceed expectations.
Get insight from people who have tenure in the industry. Find a professional to speak with about the advantages and disadvantages of a concierge service business and what is to be expected.The National Concierge Association is a great way to find out more information about the industry. (See References.)
- Get insight from people who have tenure in the industry. Find a professional to speak with about the advantages and disadvantages of a concierge service business and what is to be expected.The National Concierge Association is a great way to find out more information about the industry. (See References.)
Reginald Titus Jr. began writing professionally in 2007. He has written for blackcivilwar and tech blogs where he specializes in technology. Titus holds a Bachelor of Business Administration in entrepreneurship and economics from Northwood University.