Forums: Discussions for entrepreneurs and small business.

I want to start a concierge / errand company in my area. I feel there is a definite niche for this where I live. I`m in a city of about 2 million people and there is a lot of action especially around the colleges and universities. The colleges is where I want to full fill the niche particularly. Any ideas or tips from someone who has done this sort of business?

I think your first step is to take what you "feel," and do a bit of market research to find out what to *think* about all this. Lots of people start a business based on a feeling, only to discover they`ve invested huge amounts of time and money in something nobody wants, others are already doing, or that`s not cost-effective.

How do you know this niche is definite? Using those facts and figures, write out a basic business plan to define a specific niche--the one you intend to fulfill. From there, you`ll have the starting point to work out your costs, logistics, and how you would actually go about setting up this business.

Keep in mind marketing, and how you would get the word out. Also keep in mind various contingencies. One might be having too many orders for you, on your own, to manage---how would you hire employees? What about security and bonding? Another contingency would be how you`d meet your obligations in the event of illness or other incapacitation.

These would all go into the business plan, after which you could sit down and speak with someone specifically about the idea, see?

Janie makes a solid point which was my first thought as well.  I think it`s going to be difficult to get college students to pay for this type of service when they`d probably rather spend their money on books or partying.  Also, students themselves are pretty mobile so why wouldn`t they run their own errands?  In fact, learning to be self-sufficient for the first time is part of the college experience.  I personally think it would be a hard sell to students.