Business ownership daydreams are often of the Steve Jobs variety – dreaming up some fantastic new techy business idea, starting in your garage in your spare time and then ending up reinventing the world.

As fun as these daydreams are, they are extremely far from reality for all but a lucky few – and they derail many a prospective business owner from taking the plunge because business ownership and success at that level seem impossible to attain.

If you really do want to be an entrepreneur, there is a much more realistic and possible path. Buy a small, service-based business.

While owning a maid service or auto garage may not sound as sexy as becoming the next tech billionaire, this type of service-related business can absolutely give you the financial and life-goal rewards you are looking for – often without a massive amount of risk.

Here’s why:

Service businesses always have recurring customers.

Houses don’t stop getting dirty and cars always break, so owning a business that meets these type of everyday, every person needs means you never have to go far to get a new customer and with great service you will be able to keep the customers you have. This type of business is also easily scale-able. With a simple marketing campaign and a bit more staff you can make your business as large as you want it to be.

Service businesses can allow you to have a life, too.

If you choose something like an auto shop or maid service, no one is going to expect you to be open 24-7. You can choose to be on call for emergency situations, or you can staff accordingly to take emergency calls – but you don’t have to because the situations where you would be called to an “emergency” certainly wouldn’t be life or death. You can schedule your clients around your kid’s activities, your date nights with your spouse and your vacations.

It’s easy to keep a customer if customer service is your goal.

If you own a service business, that’s what you should be providing – service. Keep you customers happy and they will likely be a customer for life, as well as recommend you to their friends and family. Focus on a great customer service experience and your business will reap the benefits.

Need employees? They won’t be hard to find.

Most service-based businesses only require on the job training, so entry-level employees will be easy to find (and easy to replace if they don’t work out). The flexibility of this business model also means you will be able to offer your employees flexibility so they can have a life too – which means you can find and keep great employees to help you grow your reputation and brand within the community.

Business ownership doesn’t need to be grand, and it doesn’t need to be complex. You can make a great living with a service-based business while maintaining that all important work-life balance. You can be a great boss and an important part of your community as well. If you’ve ever considered business ownership but didn’t think you had what it takes to be the next Steve Jobs – you don’t have to. Small business ownership can mean serving the needs of your community today.

Have you always wanted to own your own business, but were too intimidated to start the process? Would you like to know what service-based businesses are available in your community right now? Ask us! Leave any questions or comments here and we would be happy to help.

Michael Monnot

941.518.7138
Mike@InfinityBusinessBrokers.com