Independent Service Providers are Being Acquired and Local Businesses Can Use this Practice to Their Advantage

Independent Service Providers are Being Acquired and Local Businesses Can Use this Practice to Their Advantage

Did you know your local service providers may not actually be part of an independent, small business? That’s right. The plumber you’ve called before, the electrician you’ve seen working down the street, or even the HVAC tech who has been at your neighbor’s house. While you may recognize their names and logos and think they’re a mom-and-pop organization, they very well be working for a large corporation.

For people in the trades, this isn’t news. They’ve known about this for some time. It goes back to the COVID shutdowns when conglomerates realized the true value of “essential” services. These megacorporations recognized the potential earning power of local service providers and began to quietly acquire them. In order to maximize these new assets, the conglomerates allowed them to keep their existing names. But, when people call what they believe is their local service provider, they are really talking to a call center in another state or country.

While many independent, small businesses use call centers, the difference is the technicians working for the acquisitions are no longer just trade professionals – they are now salespeople who push additional products and services. The individuals employed by these bought-out companies take the opportunity of their visits to upsell and their customers aren’t aware the familiar mom-and-pop business does not directly employ them. But, it’s not just the fact that these companies are ostensible fronts for selling additional products and services to increase profits for big corporations. It’s also the fact that legitimate small businesses must compete for the same customers.

How Independent Businesses Can Take Advantage of Conglomerates Acquiring Competitors to Better Market Themselves

Although it may be discouraging to compete against other companies backed by such deep pockets, there are some benefits you as a small business owner can tap into and use to grow your customer base. Yep, small, local businesses can use this trend to their advantage by emphasizing their authenticity and commitment to the community in their marketing efforts. Here are some strategies they can use you can copy in your own community:
  • Highlight your local ownership. Emphasize your business is locally owned and operated by community members who are invested in the area. This can be done through website content, social media posts, and even in-store signage. Also, any vehicles, uniforms, and equipment.
  • Engage with the community. Participate in local events, sponsor community initiatives, and collaborate with other local businesses to demonstrate your commitment to the community. This helps build trust and loyalty among local customers.
  • Personalize your marketing. Use personalized marketing strategies, such as email campaigns, to connect with customers on a more personal level. Share the stories of vendors, employees, and customers to create a sense of community and belonging.
  • Offer unique, local products or services. Highlight any unique products or services that are specific to your local area or that cater to the needs of the community. This can help differentiate your business from larger corporations and attract customers who value local products and services.
  • Leverage online reviews and testimonials. Encourage satisfied customers to leave positive reviews on platforms like Google, Yelp, or social media. Share these reviews in marketing materials to showcase your support of the local community.
  • Maintain a strong online presence. Ensure your business has a well-optimized website, active social media accounts, and accurate listings on local directories and review sites. This helps potential customers find your business and learn more about its local roots and commitment to the community.
  • Offer superior customer service. Small businesses can often provide a more personalized and attentive customer experience compared to larger corporations. Emphasize this in your marketing materials and strive to consistently deliver exceptional service to build a loyal customer base.
By focusing on local roots, community involvement, and personalized service, small businesses like yours can effectively differentiate themselves from larger corporations and attract customers who value authenticity and local connections.

Want to Accomplish More?

Do you want your company to grow faster and earn more while you spend more time with your family doing all the things you started your business to do?

We can make that dream a reality. Give us 30 minutes and we will show you how to get your life back. Skeptical? Good! Put us to the test.

You can call us for your free appointment at (602) 541-1760, or, if you prefer, Waters Business Consulting Group to learn more about us and the services we offer.

Like this article?

Share on Facebook
Share on Twitter
Share on Linkdin
Share on Pinterest

Related Posts

How to Turn Your Side-Hustle into a Full-Time Gig

If you want to turn your side-hustle into a full-time gig, you’re looking for two things: confirmation and actionable steps. Let’s begin with confirmation. If you’re earning a decent amount from your part-time gig (and you love doing it), then it’s definitely worth exploring going full-time. But, this obviously depends on how much you earn. Of course, if the second income is near or equal to your full-time job, then that’s solid confirmation. Now, let’s take a more in-depth look. The Side-Hustle Economy An astounding 44 million people have an active side-hustle, with 25 percent of millennials stating they earn an extra $500 per month, according to Bankrate.com. That, of course, is equivalent to about $6,000 per year gross, or approximately $4,500 net, after taxes. Such additional income can easily be used in a number of ways. For instance, putting a good portion of it back into the side business to grow it larger and larger. With technology on their side and passion in their hearts, many individuals opt to start their own company while they’re working for someone else. But turning your side hustle into your primary occupation is not simple. It takes courage and faith to take the leap into entrepreneurship. —Business News Daily Obviously, you can’t make the switch if that’s all you’re earning. So, you’ve still got work to do to get to make the leap. The good news is with today’s technology, you have a definite advantage. By simply making tweaks here and there, you can grow a small side-hustle into a replacement of your full-time income. How to Turn Your Side-Hustle into a Full-Time Gig Next, we’ve got to take a look at how to get from point A to point B. So, here’s some things to do to turn your side-hustle into a full-time gig: Build it up, incrementally. If you really want to make the change, you’ll have to grow your side-hustle income. But, don’t try to rush it. Go with the ebb and flow so you don’t cause yourself unnecessary stress and feel overwhelmed. Small steps mean hitting realistic goals one at a time to get to an ultimate point. Run the take-home earnings numbers. As you grow the side-hustle incrementally, be sure to stay vigilant (and pragmatic) about your net take-home income. In other words, factor in overhead, including tools, insurance, labor, rent space, advertising, and every single expense. Then, calculate what you actually net. Save up your retained earnings. A good part of the process is to have some peace-of-mind. That means having extra cash in the bank (in your business account). Build up your retained earnings so you don’t fall prey to unexpected expenses. Hire others to help out early-on. One huge mistake entrepreneurs make is to hold onto every little task. The way to beat this urge is to start with farming small things out and then eventually letting others do the bigger parts. Have you transformed a side-hustle into a full-time gig? What other advice would you give? Please share your thoughts and experiences by commenting! Interested in learning more about business? Then just visit Waters Business Consulting Group.

Read More »

How New Business Owners and Startup Entrepreneurs can Deal with Holiday Stress

Although the holidays are usually fun and enjoyable, they can be a significant source of stress. With so much to do and less time to get everything done, it’s very easy to feel overwhelmed. Stress can be particularly acute for business owners and entrepreneurs during the holiday season and this means being able to recognize the symptoms and cope with them appropriately. Why It’s Very Important to Take Stress Seriously Stress is a natural response to the demands and challenges of life. However, when stress becomes chronic and is not effectively managed, it can have negative effects on both the mind and the body. On the mental level, stress can interfere with concentration and decision-making abilities, leading to reduced productivity and difficulty in problem-solving. It can also cause feelings of anxiety, depression, and irritability. In extreme cases, chronic stress can lead to the development of mental health disorders Ask almost any small business owner about their plans for the holiday season, and there’s about a fifty percent chance they will laugh in your face. December is a notoriously stressful time for business owners, as the combination of wrapping up the end of year finances and projects, creating projections for the year ahead, and showing appropriate gratitude for customers and employees adds up to a heap of extra anxiety. —All Business.com On the physical level, stress can have a wide range of negative effects on the body. It can cause muscle tension, headaches, and digestive issues, as well as weaken the immune system and increase the risk of heart disease and stroke. Stress can also disrupt sleep patterns, leading to fatigue and difficulty in getting a restful night’s sleep. To mitigate the negative effects of stress on the mind and body, it is important to find healthy ways to manage stress, such as exercising, mindfulness practices, and healthy eating. By taking steps to manage stress, individuals can improve their overall physical and mental well-being and live happier and healthier lives. Tips Business Owners and Entrepreneurs can Use to Cope with Holiday Stress The holiday season can be a stressful time for new business owners and startup entrepreneurs. Between trying to meet end-of-year goals, managing a busy schedule, and dealing with the added pressure of holiday expectations, it can be easy to become overwhelmed. Here are five coping strategies that can help new business owners and startup entrepreneurs manage holiday stress: Set boundaries. It’s important to set limits on how much time and energy you dedicate to your business during the holiday season. Set aside specific times for work and make sure to take breaks to rest and recharge. Delegate tasks. Don’t try to do everything yourself. Delegate tasks to your team or consider hiring temporary help to alleviate some of the workload. Practice self-care. Make sure to prioritize your own well-being during the holiday season. This may include exercising, getting enough sleep, eating well, and finding time for activities that bring you joy and relaxation. Seek support. Don’t be afraid to reach out to your network for support and guidance. Surrounding yourself with a supportive community can help you navigate the challenges of the holiday season. Practice mindfulness. Take a few minutes each day to focus on the present moment and practice mindfulness. This can help you feel more centered and better equipped to handle the demands of the holiday season. By implementing these coping strategies, new business owners and startup entrepreneurs can effectively manage holiday stress and maintain their productivity and well-being during this busy time of year. So, what else do you recommend to help entrepreneurs and business owners deal with the stress of the holidays? Please take a few moments to give your own input to help others out during this time of year. Interested in learning more about business? Then just visit Waters Business Consulting Group.

Read More »