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Personal Services Industry Resources

Personal Services – Sector Overview
This part gives you a quick overview of this industry sector, the number of businesses that comprise the sector broken down into large and small businesses along with a discussion about some issues and challenges facing the businesses.

Personal Services - List of Businesses
This section provides our readers with a listing of the businesses that are categorized under this industry classification.

Personal Services - Resource Directory
A great tool put together painstakingly by our staff that identifies the major associations and organizations that serve the various businesses in this industry classification.  Besides the name and website, you will also find a brief description about the organization.  Our small business owners always thank us for putting this tool together – we are confident that you will find it useful as well.

PERSONAL SERVICES – SECTOR OVERVIEW

The first step in determining how to write a business plan at Trident Consultants involves identifying the correct business sector to which our client’s business belongs.  The services sector is a vast industry classification as per the NAICS – North American Industry Classification System.  It covers services like auto repair, consumer goods repair, beauty shops, barber shops, dry cleaning, photofinishing and religious organizations.  (A detailed listing of other service businesses has been included at the end of this page.)

There are 1.4 million larger businesses (with employees) that employ over 5.3 million people with a total payroll of $127 billion.  On average the larger service businesses have at least 4 employees and the average income nationally for each of these employees is about $23k.

In the small business world covering firms with no employees, there are 2.8 million such service firms with total gross receipts of $74 billion and the average annual income as reported by each firm of around $25k.

Have the right business plan for a services business is critical given the intense competition and the highly transitory nature of its clientele.  Having the correct business plan and strategic plan that clearly defines and understands the target market and the competition can often make the difference between success and failure.  A business plan that has a clear mission statement, strategic planning and client acquisition and retention strategies is the first step towards creating and running a viable and profitable services business.

A business plan for a service business must address the issue of intense pricing competition in every market.  Auto body and repair shops have to be mindful of the rates they charge since they stand to lose consumers if they are not competitive.  Car washes and oil change auto service stations face the same issue.  A good plan must also address the issues of high personnel turnover which is very common in the auto repair business.

Business planning must understand that repair business like consumer goods repair, leather goods repair and furniture repair are increasingly facing very serious threats from cheap imports from China and other countries.  A keep understanding of how cheap imports can erode away the profitability of a services business is a key part of the analysis that goes into writing a good business plan.

While the services of religious organizations are not subject to income tax they face more complex issues in their operations that must be addressed in business planning.  A good business plan for example must address the fact that a lack of accountability leaves a religious organization open to fraud and mismanagement and abuse.  Dependence on a good economy, large benefactors and contributors and leadership are key issues to plan address in a business plan for a religious organization.

Service businesses like nail salons, beauty salons and barber shops have traditionally been known to be recession proof, but with the proliferation of high end businesses in this sector there is always a risk that in an economic downturn clients may prefer to go to an establishment that is looked upon as more middle of the road in pricing.  A good business plan must address that fixed and variable costs that are associated with operating a good nail or beauty salon business and must account for lower revenues and cash flow during times of slow down.

Funeral services and cemeteries may stand to benefit from the aging of our population.  A keen understanding of the local demographics must be addressed when writing a business plan since it ties in directly with the profitability.  Population shifts and subtle changing in household formation can have significant impact on service businesses.

If you are starting a business offering services, or are already established but are looking to grow, secure a partner, venture capital or business loans, we would be happy to help.

PERSONAL SERVICES – LIST OF BUSINESSS:

The following is a list of the various businesses that fall under this industry sector:

Repair and Maintenance
Automotive Mechanical and Electrical Repair and Maintenance
General Automotive Repair
Automotive Exhaust System Repair
Automotive Transmission Repair
Other Automotive Mechanical and Electrical Repair and Maintenance
Automotive Body, Paint, and Interior Repair and Maintenance
Automotive Glass Replacement Shops
Automotive Oil Change and Lubrication Shops
Car Washes
All Other Automotive Repair and Maintenance

Electronic and Precision Equipment Repair and Maintenance
Consumer Electronics Repair and Maintenance
Computer and Office Machine Repair and Maintenance
Communication Equipment Repair and Maintenance
Other Electronic and Precision Equipment Repair and Maintenance

Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance

Personal and Household Goods Repair and Maintenance
Home and Garden Equipment Repair and Maintenance
Appliance Repair and Maintenance
Re-upholstery and Furniture Repair
Footwear and Leather Goods Repair
Other Personal and Household Goods Repair and Maintenance

Personal Services
Hair, Nail, and Skin Care Services
Barber Shops
Beauty Salons
Nail Salons
Other Personal Care Services
Diet and Weight Reducing Centers
Death Care Services
Funeral Homes and Funeral Services
Cemeteries and Crematories

Dry-cleaning and Laundry Services
Coin-Operated Laundries and Drycleaners
Dry-cleaning and Laundry Services (except Coin-Operated)
Linen Supply
Industrial Launderers

Other Personal Services
Pet Care (except Veterinary) Services
Photofinishing Laboratories (except One-Hour)
One-Hour Photofinishing
Parking Lots and Garages
All Other Personal Services

Religious, Grant-making, Civic, Professional and similar organizations
Religious Organizations
Grant-making Foundations
Voluntary Health Organizations
Other Grant-making and Giving Services
Human Rights Organizations
Environment, Conservation and Wildlife Organizations
Other Social Advocacy Organizations
Civic and Social Organizations
Business Associations
Professional Organizations
Labor Unions and Similar Labor Organizations
Political Organizations
Other Similar Organizations (except Business, Professional, Labor, and Political Organizations)