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"An Errand Service Business": Low Competition, High Growth

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The errand service business might be unusual, but it actually offers lucrative promises. With the recession forcing people to work long hours or even more than one job, there's a lot of responsibilities left undone. This is where errand service business comes in. The large number potential clientele like people with disability, elderly people, and others also made this business a very potential one.

It is very easy to start with almost no entry barrier. But before you decide this might be the one for you, here are some things you may need to consider.

1. Startup Cost
Depending on whether you plan to start from home or to lease an office, the startup cost may vary widely. But it can be started with as low as $2,000 to $10,000.

2. Transportation
You'll need to invest in a small or mid-size vehicle if you haven't any. Remember to take the gas cost into account before setting your price.

3. Marketing
Most of your time should be invested in marketing efforts. There are many ways to build your client base, only limited to your creativity and imaginations. To start, you can join local industry community, like the National Association of Professional Organizers. They might help you with industry insights and sometimes can subcontract you for their client base. With the rise of on-demand apps, you can start by utilizing them to build your early client base. Traditional collateral like fliers, brochures, and business card can also be effective. Again, this is only limited by your imagination, and will either make or break you.

4. License, Permits, Insurance
Consult your local authority whether you'll need to apply for business permits and licenses. This will save you from future trouble. It's also good to invest in insurance early on.Make sure that your insurance policy also cover your transportation.

5. Scheduling
Most of your credibility will be built on whether you can fulfill the errands on time. Therefore, it's important to have some kind of schedule and time-management. Consider whether you'll need an employee to help you with this task, or you'll let the employee do the errands while you focus on managements and schedules. Many time-management and scheduler apps and software are available, and may aid you with the task.

6. Pricing
Your errands might vary widely from simple delivery to paying bills to long range transportation. Consider establishing various prices for different types of errand. Market research will help you determine the proper pricing so that it won't be too high or too low. You can also charge by the hour, and it will simplify a lot of things both on your end and your client's. When you charge by the hour, consider also charging for mileage if it involves transportation by car.

Earning Potential

If you charge by the hour, the national average for errand service business is $25, ranging from $18 to $35. That translates to a $200 daily average for 8-hour workdays, and can translate to $72,000 annually.

That's quite decent with a lot of growth potential. However, finding a steady and continuous client base can be a challenge, and will largely dependent on how well you market yourself and build your network.