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!

Global Trends For the Financial Service Industry

As the economic crisis continues to unfold, the financial service industry faces serious challenges. The crisis is rooted in continuous imbalances, including long periods of low interest rates, rapidly rising asset prices, and massive credit and savings imbalances. The 2007 and 2008 Reports from the World Economic Forum predicted these changes as continuous risk to the market.

Earlier decades of exceptional growth and capitalism at its best have now caused the market to adapt to tighter credit, growing government intervention, slowing pace of globalization, and no economic growth. With increasing regulations in the United States and decreasing availability of credit, the industry faces a significant risk of stunted growth. The global recession is also affecting the financial sector because of capital markets and decreased aggregate demand, according to Max von Bismarck, Director and Head of Investor Industries.

This article will provide leaders, employees and investors in the financial service industry with five unique and timely trends to keep in the forefront of their growth strategies for the next five years. These five key trends will shape the post financial crisis in a holistic and systematic manner.

FIVE KEY TRENDS

GLOBAL BANKING. According to the World Bank, although many banks such as American Express, Citibank and JPMorgan Chase conduct business in multiple countries, they are relatively regional in the United States. In order to grow, the financial industry will have to infiltrate emerging markets. For companies that have a more aggressive growth strategy, the spread to emerging markets such as Africa and Asia presents unparalleled opportunities for profit and increased market share.

IT PLATFORM SHARING. Network World confirms that financial service firms’ business strategies must be altered for the new dynamics and intricacies of today’s market. Immediate access to information and integration along product lines and geography are a must for future success. With the need to supply information to a global market, firms must decrease cost. One cost effective initiative is the use of platform sharing; like cell phone companies that collaborate with local companies in order to decrease cost and increase access, financial firms can do the same.

E-BANKING. A special report from The Economist sees that with 3.5 billion people with cell phones and an expected 10-20% year over year growth, personal and business banking transactions are conducted through cell phones more and more. Thus, E-banking capability is quickly becoming an increasing requirement in order to compete in the marketplace. E-banking capabilities provide companies with essential flexibility and differentiation in the market through Internet-based service applications.

MOBILE MONEY. The increase of mobile phone usage in emerging markets makes mobile money a safe, low cost initiative for the financial sector. It is an easier way to transfer money to family and friends, money is sent, and payments and withdrawals can be made without ever going to a physical bank or payment center. M-Pesa, an early developer of mobile money, concluded that mobile money “has enormous social and economic benefits.”

SELF-SERVICE. Self-service and the customer should be a primary focus for firms in this new financial service world, according to IBM. AppViewXS is a self-service portal firms can purchase, so customers can check the status of their account and gain instant access to available services. Customer questions and concerns are addressed more quickly, states an IBM representative. This technology automates many processes; the result is that staff workload is reduced while representatives operate faster and more efficiently.

Financial service firms need to have sustainable, steady expansion in the emerging markets in order to grow in the future. Deloitte and Touche Research reports that financial service firms have not positioned themselves to capitalize on more geographically dispersed opportunities. More than 93 percent of the executives interviewed for this report acknowledged that their firms “are not operating in a globally integrated fashion.”

The same report states that financial firms need to invest away from veteran or mature markets and toward emerging markets because “by 2025, veteran markets will be rivaled by other markets with faster growing economies and increasingly sophisticated financial product appetites.” USA based firms can look toward Japanese and African markets for expansion opportunities. Kennedy Consulting analysts believe that the market will rebound from the global financial crisis in 2011, but there will not be any return to the robust levels prior to 2007 until much later in the decade; hopefully, the five key trends in this report will help the leaders, employees and investors in the financial service industry to look toward a robust sound future.

In addition to growth strategies, in the 2002 Journal of Business and Industrial Marketing, Henson and Wilson discuss the extreme changes that have occurred in the financial service industry and how many firms are trying to develop and execute successful strategies based on innovative technology and customers. Aside from the regular ups and downs of the financial world, technology and innovation will always prevail as the win-win for the financial service industry. Because online banking has become the norm for most customers, technology will be very important in these firms’ strategies.

With the customer at the center of most trends in financial service firms, creating new values for their current and potential clients beyond current expectations will be a top priority. The need for convenience mixed with technology makes mobile money a great initiative in the emerging as well as the developed markets. Many firms have speed pay, the ability to pay without swiping the card, as part of their credit card services. An embedded chip in the credit card enables payments to be made by putting the card close to the payment processor. Mobile money will be an expansion of payment and money transfers without the need for a card, the need to go to a physical bank, or to use Internet banking. Payments, transfers, deposits and withdrawals can be made with a cell phone.

The World Bank concurs that innovative technology and an increase in e-business strategies will lead to much lower costs and greater competition in financial services. Internet and related technologies, the World Bank affirms, are more than just new delivery channels; they are an inexpensive, different, and very effective way to provide the same services. Since financial service firms must grow organically, build customer loyalty, and accommodate the customers’ expanding needs for services and convenience, partnerships with new technology businesses will allow them to lower their expenses and be competitive.

Established firms such as Amex, Citibank, and others can partner with groups such as the wired tech savvy Google Alumni who are not averse to risk and who own fledgling technology businesses that are reshaping the industry with a new wave of innovative products, write Spencer Ante and Kimberly Weisul of Business Week. Mobile Money Ventures is one such fledgling company that is a provider on the forefront of alternative financial service products. Small companies such as these are able to provide well-known financial firms the wherewithal to open in emerging markets where there is a need for cooperation with other firms in order to attain then obtain the local customer base.

Today’s competition is fueled not just by profitable customers, but also by the firms that are the most efficient and cost effective. Procedural and cultural clash will result from expanding into unknown markets as seen by the history of Citibank in Asia Minor. But in the long run, tighter regulations, new technology and improved business processes will cause expanding in emerging markets not only to change the demographics of the clients (both geographically and core clients), but also to better the global economy and the future of the financial services industry. Keeping the previous trends at the forefront of managers’ strategic plans, financial firms will rebound bigger and better than ever.

Times Are Changing for the Service Industry

The meltdown of the financial system, collapse of the housing industry, massive unemployment, and the lingering recession we find ourselves mired in. These are the factors that are going to change the service industry forever, for the better I believe.

Service based businesses are going to find that people are going to spend money, but, they will reserve the expenditures for companies or individuals that they genuinely like and treat them as valued customers.

The days of not caring if a customer calls you back or gives your company name as a referral are over. Those two things will soon be the difference between life or death for a service business.

Mrs. Smith will tell friends that you are a great service provider if in fact you are a great service provider, it will take more than a low – low price to get the job, it will take excellent service and a skill set that includes listening and customer service.

Referrals are gold and having customer reviews are absolutely necessary, as necessary as a business card and a website.

If you believe that time is money you soon will find that the time spent getting to know Mrs. Smith will be invaluable. People do business with people that they like or a business a friend of theirs likes.

Timely arrivals at jobs, friendly demeanor, respectful tone, and real compassion for the problems you are there to help solve. These people have called you for help and they do not need the fast talking, rub their nose in the problem, and take as much money as you can get and run approach.

Be a real person and relate to the problems at hand. Give your opinion as a real opinion not slanted at making as much money as you can, but better slanted toward the customer getting the absolute best service at the best price.

A win – win situation. For the customer, they get value and quality, for the business, you get a customer that will refer your company, will be happier with the final results, and be a repeat customer for the long term success of your business.

The reality today is that consumers have had a hard time surviving, as have many businesses, the level of disposable income may be less but the needs that a consumer must fulfill have not changed, if anything that cost has gone up.

Your service, although needed, if considered a luxury can be put off until better economic conditions prevail. You as a service professional need to elevate the value and quality of the services you provide along with the personal touch of being genuine and friendly. Personal touches will win repeat customers.

Your customer will spend money, your job is not only to provide a great service and customer experience it is to provide a great value to your customer.

Online Business Services Classifieds Will Go Along Way In Resolving Manpower Issues

In these advanced ages of state of the art technologies and avant-garde contrivances, it is matter of mere seconds, before you can lay your hands on pertaining and precise information on virtually anything you need from Manpower to real estate and from Tours and Travels to IT and software.

If you have been looking for a specific thing, as well as the added advantage of getting the stuffs instantly and precisely, the Online Business Services Classifieds absolutely are a best place to discover what you need. The Indian service industry is increasingly becoming aware of the power of the internet to get work done and save loads of time, resources and effort at the same time.

Not only management personnel and agents, but these Online Business Services classifieds let you search for apt talent in whichever niche industry segment you necessitate. No matter if you need an item, or have one to trade, the World Wide Web can be the most excellent place to come across relevant solutions.

It should also not come to you as a surprise that a lot of people are not going to be able to find what they were in search of, and would in basic terms go lacking, without such business classifieds which simplify their search endlessly. And what is the best part of indulging into such Online Business Services Classifieds is the fact that you can get response from the Indian service industry in real time and can attract Manpower pertaining to various arenas such as: – Management, IT, software, Consultants, Agents, Tours and Travels, Real Estate and a lot more.

These online business services classifieds makes the chore of finding a job very easy and not to mention that it proffers pretty good results. With a bit of intricate research on the World Wide Web you will be able to lay your hands on precise and pertinent information relevant to Indian service industry.

However the sheer number of alternatives accessible will sweep you off your feet and you will be perplexed as to which service provider or web portal to choose. It is easy just enough to whether or not you moderate for a particular occupation, from examining the sales promotions. You will often times also understand what the wage will likely be. This can eliminate the want to apply for careers that may not be compatible with your needs. Looking for shelter is difficult feel.

This is because all these grouped web pages serve up since one stop destination for the buyers as well as sellers. You only need to try to find the global popularity and excellent providers in the on line classifieds internet pages where you can placed your sales promotions safely and with overall locality and contact facts. You could grasp this specific while ability to build up your individual labeled web page and begin a source of income. So if you are looking for fitting Manpower, you should consult the internet at the earliest as it is the only place where you can compare various web portals for their functionality and reach and choose the best amid the rest.