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Entrepreneur Tips: 5 Reasons You Should Consider Starting a Business in the Concierge Line

Other entrepreneur tips are universal to any kind of business, but this focuses on a particularly accessible industry: concierge lines.

A business in the concierge line creates the perfect opportunity for that. As a young entrepreneur in the concierge line, the services you can render to people include, but are not limited to, the following: child care services, chauffeuring, tickets, reservations, arrangement of private tours, executive or private assistance, pet care services such as walking a dog/s, shopping services such as groceries, gift wrapping etc.

But apart from those, the demand is always high. Yeah, your services will always be needed. And on the good side, becoming a concierge entrepreneur is not rocket science. Anyone can do it.

In case you are on the fence, below are the reasons why you should consider starting a concierge services business:

1.) Concierge services are in great demand all over the world

People are constantly busy. They are always in great need of those who would babysit their kids, dispose their trash, arrange for moving and storage arrangements, help in evaluating homes and rentals, etc. Most people have accumulated so much stuff — both in the workplace and in their homes — that they just need help to get organized.

According to this post on how to be a personal concierge, one San Francisco-based concierge business saw its client base double in 1996 and continue to grow up to 50 percent annually for several years after that. Almost 2,000 miles away, a Chicago concierge firm that began with 25 clients in 1997 grew to service more than 85 clients in just a few years.

This is a lucrative line of business obviously and it is not yet saturated, so you don’t have to be afraid of the competition yet.

2.) You determine how much you earn

A concierge business owner can earn as much as $50-$125 per hour or more depending on the type of errand. If you can deliver your services quick and sharp, then you can earn even more in one day.

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There are also “referral fees” from various companies when you steer business to them. Companies that often pay referral fees include wedding planners, caterers and florists; many concierges pick up extra income via this avenue. All you need to do is to refer some of your clients to these companies. Simply, because you are always meeting people, it is very easy for you to meet a wedding planner who needs the service of a caterer. And of course you will get paid just for the referral.

In addition to this, you get tips occasionally from people who are blown away by your dutiful services. This is aside your normal rate or charge.

3.) Your services are not limited

The exciting thing about this line of business is that your services are not limited. You might decide to work hands-on, providing personal services yourself, or you might decide to manage other service providers to offer personal services through your concierge business.

Some personal concierges specialize in one area, such as lining up tickets for concerts or special events; others pride themselves in offering hyper specific services, like providing storage for cruise ship employees, making travel arrangements, offering relocation services, and even offering services as mundane as picking up the mail.

Alternatively, you could go the TaskRabbit route, and open everything up to whatever service consumers request. Variety is one of the aspects that makes the job interesting. The one thing a concierge entrepreneur knows they will be doing every day is juggling many tasks, and they must be prepared to do that.

4.) You have a target market

Employers in certain fields, such as insurance, banking and manufacturing, have found that offering help to their time-stretched employees can boost productivity, making this a workplace perk that benefits the business as well as the workers.

Industry experts have predicted about seeing more and more personal concierges serving businesses in the near future, handling everything from lunch deliveries to picking up laundry from the cleaners.

5.) You build a network of high net worth individuals or corporate giants

The contacts that come from building a long-term business network with the right people can neither be quantified nor bought with money. You can’t put a price tag on those contacts, but having them puts you well on the way to success. You meet potential clients when your local chamber of commerce, Rotary Club or annual awards, holds meetings. Dual-income families and successful business people are two groups that are more likely to need concierge services.

As a millennial, the concierge business is a very viable option, especially if you are trying to switch jobs. And if you are thinking of starting a new business, then this could just be it.

 

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