Franchise, new business
Large companies and corporations around the world are always looking to outsource and find more efficient ways to do business. If you are looking to get involved in starting a new business or franchise, you should really consider outsourcing. There are a number of opportunities and types of services that you can provide, including everything from business process improvements to outsourced accounting and CPA services. All that you have to do is take the time to explore your options and figure out exactly what’s going to be best for you.
Over the past 30 years, outsourcing has become an integral tool for business management with nearly 54% of today’s companies utilising third-party support services for customer contact. In 2018, global outsourcing revenue was over $85 billion and more than 93% of companies are either considering or have already adopted some type of cloud services to improve outsourcing opportunities. Also:
- Financial services outsourcing is worth more than $130 billion
- $75.1 billion was spent on customer experience outsourcing in 2018
- In small business, IT and accounting are the most commonly outsourced services
- As many as 24% of small businesses outsource for the sake of efficiency
The numbers don’t lie. Outsourcing is not just a fad. It’s here to stay, and it’s your turn to cash in on the benefits.
Why an Outsourcing Business
In order to set up your perfect outsourcing operation, you have to cater to your own skills and abilities. There are some business processes and tasks that are almost always outsourced because it’s easier and cheaper to have someone else do the work. This provides you with an opportunity to capitalise on business needs. Popular outsourcing services include:
- Digital transformation
- Bookkeeping – for Businesses
- Bookkeeping – for CPAs
- Paraplanning and legal services – for Lawyers
- Managed IT services
- Digital marketing
- Accounting
- Healthcare Administration – for GPs and Hospitals
This is just a glimpse of what can be outsourced, and what’s popular right now in the industry of outsourcing. The great thing about outsourcing is that you can adopt almost any service offering, meaning no matter what your background there is certainly almost something to suit the vertical that you are a specialist within. Take the time to review your options and make sure that you work with a franchise or outsourcing provider that can give you the best chances of success in your new business.
The Benefits of Digital Franchising
Investing in a franchise is nothing new in the business world. A physical franchise usually has a lot of up-front costs and expenses, as well as things like locating a business space to set up shop and getting all of the necessary licenses and operating permits. This can get quite expensive. When you choose to go with a digital franchise instead, you can cut down on the initial costs and the overheads involved, saving yourself a lot of money in the meantime.
Often, you can get started just by paying the franchise fee. Setting up a Facebook and LinkedIn page and utilising online marketing tools is cheap (if not free, depending on the resources that you use). Setting up shop digitally is also much quicker and easier than building a physical business operation. When you choose the right franchise, you’ll have a strong brand backing you and enjoy more success than you might trying to start a business on your own.
In Summary
Your opportunities in the outsourcing industry are vast. There are a number of ways that you can set up digital operations to assist people with things like digital marketing, bookkeeping, and other services that are generally cheaper to outsource than to perform in-house. Just remember to take the time to consider your options and choose the solution that suits your skills and business savvy. That way, you’ll be on the right track to success from the start.
To learn more about how you can get into the outsourcing industry with a new business or franchise, contact Valenta today. Our team provides an array of outsourcing and franchising solutions, and can help you turn your opportunity into action.