In this age of increasing costs, most families cannot exist without two incomes.
Gone are the days when the man brought home the bacon, and the women cooked it.
And how few people manage to jump tall buildings in a single jump or manage a house successfully and maintain a career.
Increasingly, someone is needed to fill in the gaps.
We know that Family Management is a service sector whose time has come, but the need is so great, and the industry is so young that it is challenging to define precisely what is “Family Management.”
Existing Home Management services vary significantly in scope and services provided. Some try to be everything to everyone; others act mainly as employment agencies for home help.
The sky is the limit. The only absolute in this thriving sector is that there are absolutely no pre-existing limitations to what a Family Management company can be and how far it can grow.
This, in itself, can cause some problems when you start. The first question you want to answer is what exactly will you do for your customers, what are their needs, what do you want and are qualified to provide them with tasks and more.
One of the most important aspects of introducing your customers to a new business (after having an exact idea of what that business will be) is to decide who your target customers will be.
Low-income families are unlikely to be able to afford to hire someone to perform the type of task you are doing.
Very wealthy families can probably afford to have full-time or home help and would not need their services either.
Undoubtedly, its target market consists of middle to high-income families, where both the couple work.
In addition to this limitation, practically everyone and anyone who has a job can be a potential client: young professionals, singles, and couples with children.
Since you now have an idea of what you will provide to your customers, you will need to decide on the possible needs of the team.
If you are a one-person operation at the beginning or plan to remain an individual operation, you may want to have some references available that you can provide to potential customers.
If you plan to act primarily as an employment agency to help the family, you will need a good list of qualified and well-screened employees to send on-demand.
The resources of its employees vary widely, depending on the type of service provided.
If you are providing company and caring for the elderly, your screening process will likely need to be more detailed if you are organizing mainly grocery shopping or someone to water your plants or walk your dog.
Since you are likely to be sending your employees to customers’ homes, you must be very vigilant about the character of the people you hire.
Check references and see if the employees who represent your company will improve your reputation, and not ruin it.
Now that you have a correction in your target market and have an idea of how many employees you will need, or this will be an individual operation, you can start advertising your services.
Handing out leaflets manually or by mass mailing can be a reactively inexpensive way to get your name out there.
There are magnetic signs available that you can attach to the side of your vehicle, which allows you to make your car a “rolling billboard.”
Local newspapers in most areas charge reasonable fees for your advertising, and local newspapers also mean that you are in your target location. And, of course, like all service sectors, word of mouth is likely to be your best publicity.
You want your customers to tell their friends about the excellent service you have to offer, so keep them happy.
Most Family Management companies charge an hourly fee for services provided. These rates can vary because the skill and effort expended can also be extensive.
You can hire a student to sit at someone’s home, waiting for the washing machine technician to arrive and, as the student can study “at work” and face very little in terms of responsibility, what you would need to pay the student would be relatively modest.
If you are taking care of registered children or supervising a move, you will need a responsible and reliable person and will probably need to charge (and pay) a higher fee.