Updated: Jul 23, 2021
It is time to start the new year off by taking action and having a strong business plan. Covid-19 challenged businesses in 2020 and it will continue to hinder us in 2021. It will be important to find additional revenue streams for your home services business.
Do you have Netflix, Amazon Prime, Disney Plus, or Direct TV? Do you go to the dentist, gym, or yoga studio? Hang tight, I am getting somewhere with all of this. They all utilize a subscription-based model. A continuous cash flow, re-occurring revenue, opportunities to upsell and cross sell, better customer retention, and the list goes on.
Start the year off by adding a subscription-based service through a service plan or contract. You do not have to do anything different except present the option to the homeowner after you finish a job. It can be as simple as offering a discount on future services or charging a monthly fee for re-occurring services. It is all about anticipating needs and timing. Service contracts will provide the same net benefits as they do for the companies above with zero to little investment.
NetStrong Business Solutions has 20 years of finance, business development, and home services experience. Contact us for more information at Jason@NetStrongBusiness.com. Visit our website www.NetStrongBusiness.com.
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