Feature: Success within the Service Sector
This article appears in the Mar/Apr 2015 issue of Business Franchise Australia & New Zealand
Our feature in this issue of Business Franchise Australia and New Zealand is ‘Success within the Service Sector’.
The Cambridge Dictionary defines the ‘Service Sector’ as the part of a country’s economy that is made up of businesses that provide services.
According to the 2014 Australian Industry Report, the inaugural report from the Department of Industry’s Office of the Chief Economist, the 2013-14 financial year marked the 23rd consecutive year of economic growth. The Australian economy is transitioning to a knowledge-based economy, which implies a smaller role for primary (farming, mining and fishing) and secondary sectors (manufacturing) and an even greater role for Services in the economy.
Like other developed countries, the majority of Australia’s economic activity today occurs in Services industries. These industries account for more than two thirds of GDP and about ten million jobs and included within these figures are the service franchise systems and providers, all of whom provide a service to other businesses and individuals within a wide range of categories.
The categories can include service providers such as legal advice, point of sale, insurance requirements, property fit-outs, courier and printing services, alongside franchise services including air conditioning servicing and cleaning. One thing they all have in common and in their favour is the need within the wider community to outsource these particular functions.
There are many reasons for this outsourcing and can include such things as businesses that may not be able to keep fully up to date with the current trends and technology or may be small and seek assistance from experts within a particular field to provide that service to them or even that by outsourcing particular services, it will allow the company to fully focus on growing their customer base and increase sales.
For individuals and home owners, who are busier today than ever before, with less time for maintenance and small projects around the home, it is easier for people to contract out the jobs to capable businesses than spend the time and money trying to do it themselves. This has resulted in a growth market for small business owners, including franchisees, to step in and complete these tasks once done by homeowners themselves.
Whatever the reason for this outsourcing, you are in the enviable position to not only enjoy great success with your franchise but also assist in the success of another business.