High-End Service Business?

[Virtualgal]

Hi,

Looking for a little advice/feedback if possible.

I'm working on a passive/leveraged-income project currently, but I see this taking some time to generate revenue.

In the meantime, I'm looking to develop a service/consulting business. I've been doing different bits of work (mostly related to careers) but through this I've realized the best way to really generate a reasonable revenue from a service business is to target higher end clients/command greater fees per job.

So, rather than having to attract ten or twenty jobs a week, better to work with one or two higher-end clients/projects. This isn't really viable related to the kind of work I've been doing, so I'm looking into other options.

I've started making a list of services/industries where I know you can potentially command high fees per job (obviously all dependent on the quality of work you deliver). Things like high-end dating/introduction services, concierge services, certain kinds of recruiters (but all very people focused, and so taking up more time and resources).


My knowledge is a bit limited so I'm trying to broaden this to help me explore options. Does anyone know of any resources related to service businesses (I read entrepreneur.com and inc, currently)? Or have any experience with bigger ticket services?

I know someone who works in windows who makes around 5k per job, but that's as far as my own network/knowledge extends.

Thank you.

 

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[100k]

Why not become a re-seller/sourcer of high end medical equipment (body scanners and things of that nature cost $30k - $500k), sell a few $100k products like that a month and you can make $20k+ I reckon!

 

[Virtualgal]

Why not become a re-seller/sourcer of high end medical equipment (body scanners and things of that nature cost $30k - $500k), sell a few $100k products like that a month and you can make $20k+ I reckon!

Sounds really interesting, thank you. I guess my worry with something like that might be around specialist knowledge and aptitude. (In all honesty, maybe also confidence that sales at that level, and with the kinds of people buying that equipment, could also be a bit out of my league, at the moment). Great to get the wheels turning though and start me thinking outside my own (narrow) focus. I'd never have thought of anything like that. Thanks very much.

I'm looking at service businesses because it's something I can do right now (or soon) to bring in a revenue, which I can then put towards something more fastlane in future. But I quickly learned selling services for low amounts will take me a lot longer to get there (if at all).

I'd been thinking of how I could deliver 1k or 2k of value with a service, but truthfully wasn't getting very far, as I think I kept focusing on what I know. So now trying to broaden my knowledge first.

 

[100k]

Sounds really interesting, thank you. I guess my worry with something like that might be around specialist knowledge and aptitude. (In all honesty, maybe also confidence that sales at that level, and with the kinds of people buying that equipment, could also be a bit out of my league, at the moment). Great to get the wheels turning though and start me thinking outside my own (narrow) focus. I'd never have thought of anything like that. Thanks very much.

I'm looking at service businesses because it's something I can do right now (or soon) to bring in a revenue, which I can then put towards something more fastlane in future. But I quickly learned selling services for low amounts will take me a lot longer to get there (if at all).

I'd been thinking of how I could deliver 1k or 2k of value with a service, but truthfully wasn't getting very far, as I think I kept focusing on what I know. So now trying to broaden my knowledge first.

No problem.

You can always learn the technical stuff, spend 1 week reading up on that stuff and you will know more than 99% of the people you are selling to.

If you really want it, then don't let that be an excuse!

Another thing you could possibly do.

Sell virtual tours to high end establishments like car rentals / auto dealerships / high end restaurants / hotels.

I think you could easily sell 1 tour image for $199. And maybe you get 2-4 orders from each establishment that's like $500+ a day.

Digital Cameras | High Definition 360 Digital Camera Virtual Tour Starter Kits

There is an entry to barrier as not everyone will know about the business model and even fewer people will be willing to risk $1500 to buy the equipment needed.

I'm sure there is a small need (but not many people know about the product, it kinda sells it self when you see the advantages it brings, like letting customers be interactive and see what's being sold in 3d),

Scale..... you can if you created a firm and turned the business model into a franchise - so the franchisee would go and generate business, take the pictures and then send you a $% to organize the images together and for training/support etc.

Time, well if you put a good system in place you can have a small team of people running the show (human support system).

Control, you would have the control if you think smart and you are the franchise owner!

 

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[CEBenz]

Why not become a re-seller/sourcer of high end medical equipment (body scanners and things of that nature cost $30k - $500k), sell a few $100k products like that a month and you can make $20k+ I reckon!

I kind of like that idea.

 

[Virtualgal]

Thank you, that's another one I would never have thought of, or anything like it. You are definitely right on the letting things stand in my way - I often think you have to be an expert to do these sorts of things, whereas other people are just getting on and doing it.
I'll get reading up on that one now.

I had been thinking of, ideally, doing something more virtual but you've taught me I am thinking too small in general (seem to keep doing this). For instance, I thought about a couple of different ideas like brand strategy, design services and copywriting for small businesses but immediately discounted them because I didn't know how to do them/have any experience with them.

In fact, I was particularly interested in the branding one, thought it could work well, but didn't go any further because I had no expertise. I suspect that sort of obstacle wouldn't stand in your way, for instance.

My mindset seems to be caught up in things I can do personally (or have done, which are pretty limited). Even career consulting, which I have some experience with, I couldn't figure out how to charge more for it/what else to offer, so I discounted that, again, I think, getting caught up in what I 'know'/have experience with rather than what is possible.

Thanks.