If you are looking for a profitable and rewarding home based business, then start reference service is a great option! Reference services can operate on a part time or full time, they do not require a lot of start-up capital or overhead and the majority of the company can be generated through networking and word of mouth.
The first step is to decide who you want to refer. If you are passionate about decorating or home improvement, you might want to start contractor referral service. Or, if you are a teacher or retired teacher, you might want to consider a referral service that shows teachers. When choosing the type of service you want to refer, not just count your expertise, but also keep in mind the needs of municipalities. The growing number of seniors in your area? A thriving home improvement market? Are there a lot of young families moving in?
Next you need to examine what state and county licensing and insurance are for the service you are going to refer and then use the information to create a thorough screening process. Each of the contractors in the network needs to be properly vetted to ensure the highest level of customer satisfaction.
The next step is to decide how you will get paid. Do you charge the contractor you or your customers for your services? Will you charge a flat monthly fee or will service commission based? Or would you want to pay per lead? To determine the compensation model will work best for your business, you should research similar business referrals in your industry. Also speaking with several industry experts to get their feedback on what type of compensation is reasonable and / or customary in your industry.
Once you have collected network, to refer you to decide who your potential customers are and how you will achieve them. Start by creating a Market segmentation study and analyze the main characteristics of ideal clients. For example, where your target audience live? Presumably male client, your wife, or both? How old are they? Are you targeting young families or older?
In order to promote your business to a wide audience, you need to interact with customers online and offline. A well designed website with a concise and informative copy is a must. You can also participate in online social networking sites and communities, start a blog or monthly e-newsletter to help boost web traffic.
Offline promotional campaigns may include direct mail to potential customers, advertising in publications and public relations strategy to create press attention for your business.
And, network to build word-of-mouth referrals is another great way to generate buzz for reference business. Investigate local business organizations and networking groups in your area where you can meet other industry related professionals who can refer clients to you.
If you are outgoing enjoy helping people and think you have what it takes to succeed in business reference service, do not hesitate! With low cost and substantial financial rewards, dismissed service is an ideal home-based business!