Business Services Transactions Highlighted by Harris Williams
Businesses are utilizing business services to boost their bottom line. The new communication technologies and globalization are spurring this industry to grow at an unprecedented pace. New integrated offerings are forcing established players to re-invent themselves, while new technology platforms are creating lower-cost business models and opening up new markets to active and new entrants. With a diversified supply chain and a wide range of services to choose from, the business services industry is a key area of opportunity for both small and large organizations.
The business service industry is growing at an extraordinary rate, largely due to the strong service economy and middle market companies that make up this sector. Despite the high growth rate, many sectors continue to experience superior growth. With aggressive buyer demand and strong industry fundamentals, Harris Williams has completed business services transactions in every sector. Listed below are a few highlights of recent business services transactions. They can be categorized into four broad categories. Let’s explore each of these sectors in turn.
Business services are services that organizations hire or purchase that support their work. They are not tangible commodities that are sold to consumers, but instead provide labor or special equipment that helps them achieve their goals. Some examples of business services are information technology services, which align IT assets with business needs. The value of IT is documented by an IT service catalog or employee self-service portal. It may also include auditing processes in the IT infrastructure and providing an employee self-service portal.
Some examples of business services include utility services, such as solar panel installation. Others include real estate services like office space and retail space, employee quality of life services like daycare, fitness services, and recycling services. Finally, business services can involve the rent of retail and office space. Some companies even hire caregivers to host an in-office day care for their employees. This helps employees balance their work and family lives. This type of business is particularly prevalent in hospitals and medical facilities.
While the role of a business service is vast, there are some common items that can be outsourced. A good example is a service contract. The Business Services department contracts with a third party company to handle a specific contract. In addition, the contract between the vendor and the university specifies the duration of the contract and the amount of funding needed to complete the transaction. Lastly, business services also has a daily diary to notify employees of arranged appointments, resident support needs, and other requirements.
In addition to finding skilled employees, business services franchise owners must prioritize customer service. They must provide high-quality service to clients and meet deadlines. Entrepreneurs should have business degrees or at least work experience in sales and marketing. Additionally, business services franchise owners must be comfortable with customer sales and retention. If these qualities are not in their resumes, it may be best to consider another business opportunity. It’s worth pursuing your dreams. Just remember to do your research and choose a franchise in an industry you’re passionate about.