The maintenance and property services business is a fast-growing option for many small business models and individual entrepreneurs. The initial Property Management Software investment requirements are not very high, however the skills required may be specialized. This is also a labor-intensive business, hence acquiring, training and retaining competent staff is vital.
The maintenance and property services business essentially involves providing handyman-services and/or caretaker services, with maintenance of the property, both interior and exterior, gardening, electrical, plumbing, repairs, painting, polishing, carpentry, removal of garbage, construction debris, waste-management systems, etc. This could be either for a domestic or commercial establishment.
In today’s super-specialized world, not many home-owners or management of commercial buildings have the interest or the inclination to do their own maintenance work. They may also not want to invest in the equipment and tools required, or they may not want to keep permanent staff for this purpose. They may also prefer to entrust such services to an outside source. This is also one line of business that is self-generating and relies heavily on repeat orders, since maintenance requirements remain constant. Hence the need for a good maintenance and property services business model is becoming increasingly felt.
Marketing a maintenance and property services business may not be very difficult, as most projects are obtained through word-of-mouth references, advertising through leaflets, ads on bulletin boards in local hardware stores, pubs, transport stations etc. Ads in free-listings, local newspapers, direct mailing, referrals from local bodies etc. are also great ways to showcase your services. However, in the initial stages, a sustained marketing campaign may be necessary, with offers of discounts, free service calls, etc. An entrepreneur who wishes to start such an enterprise may already possess certain carpentry, plumbing, gardening, landscaping, repairs, electrical or masonry skills. Hence, they can use their expertise to train new recruits.
However, the challenges in running such a business are in the areas of training and retaining service staff, billing, collection of dues and the uncertain nature of projects. For example, an initial assessment may not reveal the real extent of damage or repairs required and the project may drag out or go far beyond estimates. In such cases, managing customer expectations becomes an issue. Another issue can be to get adequate insurance for electrical and plumbing jobs. Liability insurance may also be mandatory for certain types of maintenance work. Getting insurance for yourself and your staff could also be expensive.