What are Service Businesses?
Service businesses perform tasks for their customers that require specific skills. There are various types of them, but here are a few examples
- Auto mechanic
- Financial advisor
As you can see, there are many categories of service businesses, and they all require different expertise. But their overall goal is to help their customers with the assistance they are providing.
Housekeepers assist their customers in organizing and providing cleaning services to their households. Service businesses can be very labor-intensive, and being a housekeeper is an example of this.
Housekeepers can work on their own schedules and take on jobs independently. Therefore, they do not need to have an established shop to perform their work, which benefits this type of business.
Accountants will assist their customers in bookkeeping and preparing statements such as balance sheets and income statements. People typically hire others to do this work since they may not have the expertise or time to do the job. Therefore having others assist in this allows them to get expertise from others in exchange for a cost.
Accountants can provide this service virtually to give customers and themselves flexibility in delivering their services. They can work from home, and it is not needed to have a space to provide this service.