Outlook on starting a service based business

Service based business describes work that supports a business but does not produce a tangible commodity. It is an activity that is based on services ( doing things for customers) rather than on manufacturing . It provides work in an expert manner by an individual or team for the benefit of its customers. The growing biggest change in Indian market has been the transformation from an industry based to a service based economy. There are more than hundred types of Service Business requiring investments ranging from a very modest amount to large investments. A person can start single-handed or with a group of individuals & also forming a Sole Proprietary Firm, Private Limited, Partnerships etc.

Your strategies would differ according to the type of business you choose to venture based upon your aptitude & taking risks involved. Following are very basic types of Service Businesses requiring a very low investment & minimum risks.Today, you can easily create your own website and convert your small business into brand easily without spending much.

DRY CLEANING BUSINESS
If you are having a dry cleaning business, it could be a source of good profit for you. Most of the people falling under middle & higher income groups hold requirement of dry cleaning their clothes, furnishings etc. However, for this business, one has to operate from a market located in a dense population consisting of middle/large income group families & involves small investment as well as workforce.

PERSONAL CHEF
Personal chef works as individual & works in households, Parties, Restaurants and many more places. Now days, many families prefer to hire Personal Chefs on daily/Contract basis for cooking at parties arranged by them in places other than restaurants. They are able to earn much more than working as an employee. Therefore, it is a profitable source of earning without any investment. A good Chef is quite much in demand when it makes a good dent with his customers by making delicacies for guests who become customers by word of mouth.

UPSKILLING
With a strong competition & need to upgrade individual skills, there is a great emphasis on coaching students like English speaking classes,  General knowledge etc . This can be a good source of income for you as well as it will benefit students by developing them to have bright future prospects.

WEDDING PLANNER
With hectic life & no spare time available, families now want to outsource wedding ceremonies right from designing wedding card to execution of all wedding functions. Wedding Event Management involves expertise in decoration & catering. You can show your creativity & personal talent. This involves investment & workforce. However here also marketing takes place by word of mouth.

MOBILE REPAIRING
Now you will hardly find a person who does not use mobile. Also due to continued nonstop usage, these are liable to get frequent defects. Instead of running to a big business store, one would like to visit a local small repair shop for immediate repairs. If you have a sound knowledge about mobiles, then this is the best choice for you. You can start this profession by negligible investment & can start from your home even. You need not create any market & instead by word of mouth people will come to know about your existence. This type of service will give you a good scope, as there are not much services available like this right now in the marketplace.