Cost Effective Business Services

A business services franchise is a good option for many who are willing to serve the corporate world. A business franchisee needs an investment in terms of fees, real estate, marketing, merchandise etc. there are both small business services as well as high cost businesses in the category. Here we discuss some prominent business services franchises.

Financial services: The financial services space is rapidly growing in India. It is one of the most significant business services in India. According to the latest Central Statistical Organisation (CSO) data, financial services, banking, insurance and real estate sectors have risen by 7.8 per cent in the third quarter of 2009-10. This displays the success of the financial service industry. With the over-all increase in the finance services seekers, finance service providers took to franchise route, thus creating a great scope for franchise opportunity.

Till a few years back, the franchising which was an unknown concept in this field has gained lot of momentum in the present times. Before discussing the factors responsible for this development, let us first get familiar with the term ‘Financial services franchisors’.

Financial services refer to services provided by the financial service companies. The finance service companies encompass a broad range of organisations that deal with money management. A few of these organisations include banks, insurance companies, consumer finance companies, stock brokerages, investment funds etc. These companies offer various services such as asset protection, investment and savings, retirement plans, customer-orientated service, besides offering personal loans, commercial loans, mortgage loans, and education loans for the aspiring students. Financial service providers are on the rise as franchising as a mode of expansion is being opted by this industry. Manish Shah, Associate Director- Business Strategy, Equity & Product Development, Motilal Oswal Securities Ltd shared, “The belief in entrepreneurship and the drive it brings to the business, made Motilal Oswal take the franchise route. Franchising brings more scalability to the business and the business becomes entrepreneur driven.”

Courier Services: Another category of business services is courier service. The companies basically work around transportation of goods from one place to another, delivery of documents, packages, and larger shipments of products. These provide services to companies and individuals who need rapid service, accountability, and tracking that regular mail does not accommodate. Courier services are more reliable and dependable as compared to ordinary postal services due to less time consumed and delivery guarantee. However, with the introduction of modern gadgets and faster modes of transportation this system has also progressed a lot. Moreover, franchising is also one of the main stimulants of its popularity and profitability.

Franchising in this sector has grown with more and more players taking the franchise model for reaching out to far flung areas in the vast nation. Courier service companies are required to deliever important mails and parcels to any part, whether city, town or village in the country. Therefore, franchising can be the best mode for guaranteed delivery of the items. According to DS Patel, Channel Head, DTDC, “Franchising is an essential and most effective way of expanding the network. Opening our own company owned courier offices is very expensive and time consuming. However a franchise outlet is economically beneficial to the company.” As informed by Praveen Govindraj, Assistant General Manager, First Flight Courier, “Franchising definitely helps in directly reaching to far-fling areas for delivering items due to our local partners in those areas.” He further added, “Franchising can be a win-win situation for both the franchisor and franchisees as both benefit from it. The local partner (franchisee) has a much better idea of a particular locality than the main company which is based out of Delhi or Mumbai. Delivering parcels to small towns and cities becomes difficult and also take a lot of time if it is done by the company in metropolitan areas. At such times the local franchisee can be of great help.” This can be the major reason for courier companies to opt for the franchise route. Moreover, having local partners all over the nation, who deliver all items on time, also increases the credibility and profit making of the parent company.

The typical feature of the courier service franchise includes doorstep booking, customer convenience and security of each and every consignment that has been entrusted to it. Jaguar Couriers Franchise, Blazeflash Couriers, etc are some of the franchising companies under this category.

Cartridge refilling: Cartridge refilling forms another business service category. In the modern age of I.T, there is a constantly growing need of cartridgere-fills. Foraying in the cartridge refill industry through franchise route is a promising venture. A cartridge refill franchise offers to its user’s quality refills at a fractional cost. Current industry trends and future projections suggest that printer cartridges demand will continue to multiply at a very fast pace as computers and low cost printers swamp the market. Cartridge World, Cartridge CafĂ©, Cartridge Xpress are some of the good low-cost franchise options.

Challenges

Every business has attached to it certain set of challenges. Though the basic challenges remain the same across the board for all business service franchises, their relevance with each sector differs.
Before opting for any of the above options, clear all your doubts. Apart from your initial investment, take into account the ongoing costs that must be paid to your franchisor, including franchise royalties, marketing fees and other required purchases. After you are convinced go ahead and make your mark in the franchising world!

Work for Yourself With a Business Service Franchise

More Americans than ever before are starting up a business of their own, making a real difference to the state of the nation at a local and a national level. However all too often, even with the best intentions and the best work ethic, insurmountable challenges can be faced. One option which offers the freedom of running your own business, with the support of a network, is a business service franchise.

There are a great many reasons as to why this is such a great option for entrepreneurs in the country. As economic strength returns to the US and greater confidence is found by organizations in the country, they will require professional services. Operating in a local area, a franchised company can often provide a more bespoke service and faster turnaround.

One such business sector that is well positioned to help local economies pick up is in digital printing. With local companies starting to require all manner of stationery and other printed materials, entrepreneurs have a great opportunity to stake a claim in the sector.

A successful local print shop can quickly become an integral part of the local business community, but it is essential that the service provided is of a high standard. It is for this reason that setting up a franchised store makes such great sense.

Providing printing as a business service, a franchise has the immediate and constant support of a recognized brand. This allows other companies in the area to immediately trust the product and the experience they receive. With a reputable franchisor, the training should allow for knowledge to be acquired and put into practice quickly and effectively.

Moreover, working with a strong nationally recognized franchisor allows a valuable support network to be drawn upon. This network can extend across the state, the country and even across the globe. It all means that experience can be shared and mistakes collectively learned from and mitigated. Put simply, it makes for a stronger business model than regular start-ups.

This greater strength by working to a proven business model also ensures that getting initial and ongoing finance is easier. Banks and other lenders will always favor those new businesses that they feel have an enhanced chance of success, and a business service franchise offers this. With a high success rate throughout America, securing lending at preferential rates is a very real possibility.

Despite all the benefits though, the success of such a printing business still relies on one thing above all else, and that is the determination of the individual. Great training and advice, the latest equipment and materials and the very best information can only take you so far. Effort and a strong ethic are what actually carry the business from day to day.

If the right attitude is forthcoming, it is possible to provide the very best service whether designing and printing posters and banners, setting out and printing catalogs and brochures or creating business cards. With so many advertising and marketing needs, as well as daily operational materials, a print shop business service franchise really could be a success story for anyone wanting to take control of their own life and career.

Objectives Of Efficient Business Service Management

Why should businesses bother about business service management (BSM)? The efficient management of business services can lead to better customer service relationships, improved inter-departmental communication and engagement and increased productivity. All of this can contribute to cost reductions as well.

Business services may often seem to be at cross-purposes with what IT has to offer and there is an impression that management initiatives are hard to meet. But BSM not only bridges this gap, it helps businesses bring together the factors needed for efficient growth, such as the health of your IT system, the status of applications, effective monitoring of applications, managing networks, managing virtual networks, and consumption and management of data storage systems, etc.

Business service management directives may be placed above directives of IT service management. BSM application is also seen applied in Information Technology or Information Communications Technology; BSM also helps identify and define business objectives such that they are easier for IT to follow and provide for. Without this definition which is the hallmark of BSM, it is difficult for the IT to align with the larger business vision.

BSM is also vital in times of virtual networking and Cloud-based systems. Whether your IT department is in house or outsourced, business service management measures are necessary to ensure everyone shares in and understands the business goals.

Why implement business service management? Primarily, implementing it helps align your IT services with business goals; your business approach also develops a better customer focus. Additionally, having business service management in place fosters a culture where right from operations to administration to IT all are aligned with business objectives.

For the customer

If your business functions and operations are in sync with the larger vision, then BSM is all about identifying market needs and target customers to provide them with better services. Following outlining of business objectives, BSM also helps understand the impact of these objectives on existing business infrastructure and how to go about meeting newer goals.

Thus, when it outlines business objectives, it also takes into consideration changes and possible modifications that will be needed to fulfill them. Changes that support business objectives may be needed for operations as well as IT within the business.

Once BSM guidelines are implemented, it may bring about a change in the way the business has operated thus far. Technological changes may come about that impact the existing client base. Even if a change is for the better, it will still need adaptability. BSM may also change the way communication is handled; thus if a customer is used to sharing concerns or making complaints in a particular way, this way might get modified and change into a different kind of service altogether.

7 Best Bookkeeping Business Services

If you’re a small business owner considering outsourcing your bookkeeping, keep in mind that bookkeeping business services include much more than just keeping track of your finances. If you hook up with a true professional service they can become much more than an accounting service, they can become important partners helping you optimize not only your cash flow but planning your financial strategies. Here’s a short list of benefits and services you can expect from a full service bookkeeper.

1. Time

Actually this may be the most productive benefit of all the services an outsourced bookkeeper can provide. By taking over the responsibility of accounting, the bookkeeper service effectively gives you more time to do what you do best and that’s run the business. Accounting is an absolutely necessary part of a business but it is not a profit center and it plays no part in driving sales and revenue. Any time you devote to that function is time taken from engaging in an activity that can generate sales or profit.

2. Financial forecasting

Using your firm’s financial history an experienced bookkeeping service can develop financial models that will allow you to play “what if” games that can predict your financial performance in the future. For example a business owner can ask what if sales increase 8% in the next quarter or what if the marketing budget is increased by 10% what kind of sales can be expected. This is a complex model that requires the knowledge of experts and would not be readily available to the owner unless he outsourced the function.

3. Tax planning

Running your business to take advantage of opportunity to minimize tax liability can be the difference between taking a loss and making a profit. The same goes for licensing and other local fees. A knowledgeable service will not only prepare your returns but show you ways to reduce your tax bill.

4. Real time reporting

Gone are the days of receiving monthly reports from your accounting service. In today’s business environment you need to know where you are financially right now and that’s what a professional bookkeeping service can provide. Thanks to ASP technology you can log onto your account using an ultra secure server and access all of your reports at any time and from any where you have an internet connection.

5. Customized reports

Your bookkeeping service will work with you to build reports that make sense for your particular business. Profit and loss statements, sales reports, receivables reports, all can be designed so they present the information in a way that you can best evaluate your position.

6. Assistance with lenders

A sign of just how tough and competitive the economic times are is the expansion of bookkeeping business services into areas that they previously did not participate in. Assistance with loan applications or even introductions to lenders is an example of the “new” services being offered by many firms. Loan applications can be intimidating and confusing to many business owners and the accounting service can offer valuable assistance in insuring that the right, and best, financial information is included in the application.

7. QuickBooks Consulting

Even if you don’t hire a bookkeeping service and you use QuickBooks in house to do your bookkeeping, you may find that the service can help you do it better. QuickBooks has added so many features and has become so much more than an accounting platform that it has created an entirely new support industry. If a QuickBooks customer wants optimal performance from his system, it’s likely he or she will need the advice of a certified QuickBooks consultant and the bookkeeping service is a ready, qualified resource.

A combination of rapidly improving technology along with an increasingly competitive market has caused bookkeeping business services to evolve into something greater than the traditional accounting services. Smart businesses will take advantage of these services to remain competitive and optimize earnings.

Importance of Business Services Is Second to None

What are the various business services that I should consider?
Business services include a whole host of services including client refreshments, postal services, copy services, meeting rooms and training rooms, telephone handsets and call packages, wireless internet access, purchasing discounts and others.

The decision to opt for services are governed by your business needs. The trade-off is between engaging your own resources versus seasoned professionals of the service providers. The decision is between taking a longer time to get started versus getting started right away with the available and well oiled administrative services.

Can business services be customized as per my needs?
The range of customization of business services offered depends upon the service office provider. It could be an off-the-shelf package that offers little or no customization or it could be pick-and-choose from the boutique of services provided.

At a short notice the service options can be individually scaled to your changing needs and expanded to include the items and services that are most important to you.

As an example, the services of a business centre can be tailored to very specific needs. As an alternative to the full-service office, various combinations of services can be provided as well. In addition, they offer a variety of standard services: copier and fax machine, access to meeting rooms with state-of-the-art conference technology, etc. Professional staff answer calls in the company name; welcome visitors and handle clerical or secretarial work. The advantage to the clients is that all services are offered on a pay-as-you-go basis. In other words, they only pay for services and facilities they are actually using.

How much do I pay for it?
There are multiple different payment models for availing the business services. It could range anywhere from a completely variable option on a pay-as-you-go-basis, being partially variable or a fixed service with monthly, quarterly or annual payment options.

How can a business centre support you?
Serviced office provider such as Avanta offer an attractive business service package with NO hidden costs, which give its customers a clear advantage above the competition. Their goal is to provide you with the business services you need when you need them.

Business services for entrepreneurs or small businesses can be bundled with your physical office or virtual office membership at Avanta, and clients can purchase “Business Services on Demand” as needed. Avanta’s virtual receptionist will answer calls using your company’s customized greeting and route each call per your instructions. Each office at Avanta comes equipped with a full-service, IP-based PBX phone system featuring call routing, voicemail and low-cost long distance rates.

Why don’t you combine various business services such as internet connectivity, client refreshments and postal services into a simple, monthly package? This gives you the ability to forecast and plan their total cost when taking using a business centre in Delhi.

Listed below are some of the business services offered by Avanta India;

– Client refreshments

– Postal services

– Copy services

– Meeting rooms and training rooms

– FREE high speed wireless & internet access in communal areas

– Business support & purchasing

– Bandwidth & telecom packages including free local and intra-circle calls

– Telephony services

– Internet connectivity