Which is easiest to start and run- Production or services?

[Etini]

Products are broadly divided into two classes. These are goods and services. Goods are tangible products you can feel and touch. Services are when you do one thing or the other for someone and get paid for it. Examples of goods are chicken, soap, etc. Services include cleaning, barbing, etc.

When it comes to these two types of business, which is the easiest to start and run? From my experience, I think services are easier to start. Most services do not require a huge capital outlay to set up and start. They might just require a skillset and you are in business. Whereas the production of goods requires you to get raw materials, have a space as well as get tools. For those considering being in business and capital is a constraint, I think they should align more with services than production. For instance, to start barbing as a business, all you need is a clipper and the skill of barbing.

 

[sunnystar]

You made a good point that service is very easier to start than production. I agree! Services only need skills and this you earn big money. It doesn't require capital as you stated above. Everything relies on skills and commitment. When one is committed to services it could make hirers love to gift you prize and this adds to earning as an extra profit but production needs resources inwhich it's difficult for people to own unless they are graced. So I would also abide to services for a start and go for business after saving required capital to venture in a particular business.

 

[Suba]

@Etini your question is quite complicated it can't be answered straight away it should be spelled out first. The difference is very clear in the form of products or selling physical goods/goods, while services sell labor or expertise, for example porters, delivery of goods, lawyers, accountants, etc. Product-based businesses will focus on building brand reputation while service businesses will focus on building credibility. If we look at the amount of capital needed for a service business, it is smaller than the capital for a product business, because the attorney's capital has been issued since school. So to answer which one is easier for a product or service business, of course for each person it will be different, if someone does not have the expertise and capital then being a porter or delivery person will be better. But if you have speaking skills and education from law then it would be better to choose to become a lawyer. but if you have capital and like to run a business, it will be better for a product business

 

[Etini]

@Suba let's look at practical examples. I am into the poultry business. To start my business, I needed to get space, set up a structure, get equipment, order for birds, and buy feed and medication. Huge capital outlay. Whereas my friend with whom I started this entrepreneurial drive together went to learn how to barb. He paid a little sum to get training and he bought a clipper. Viola, the business has already started for him. In all, he did not spend up to a quarter of what I spent to start up.

Even when it comes to running the business, he still finds it easier. He can actually afford to go broke. All he needs to do the following day to be back on his feet is to find someone and get less than a dollar to buy fuel and start all over again. The same can be said for transporters, laundrymen, and most other service. The same can't be said for businesses that are in production. Your running capital can it be depleted or else you are out of business.

 

[anil02]

Products are broadly divided into two classes. These are goods and services. Goods are tangible products you can feel and touch. Services are when you do one thing or the other for someone and get paid for it. Examples of goods are chicken, soap, etc. Services include cleaning, barbing, etc.

When it comes to these two types of business, which is the easiest to start and run? From my experience, I think services are easier to start. Most services do not require a huge capital outlay to set up and start. They might just require a skillset and you are in business. Whereas the production of goods requires you to get raw materials, have a space as well as get tools. For those considering being in business and capital is a constraint, I think they should align more with services than production. For instance, to start barbing as a business, all you need is a clipper and the skill of barbing.

No doubt and every one know that to start a production we need too much more time than to start a service. some one can start service in s day and if any service needs to arrange some equipment than it may take some more days. It is also fact that we can start earning much earlier than a production work. Service work need some special qualifications

 

[Augusta]

I will go with services. You know if that Services can be easily started as you only need skills and this will earn you earn big money. It doesn't require capital as you have stated above. Just have the knowledge and skills required then you are starting already.

With service or giving services everything relies on skills and commitment. yes with passion you can prevail as you would execute each job to the best of your ability as When one is committed to services it could make hirers love to gift you prize and this adds to earning as well.

Like you rightly stated I also think they should align more with services. As a lot of people do better when the offer skills than products. Producing is capital intensive. For instance, to start barbing as a business, when once you have the skills you can start off anywhere even in your house people will still patronise you.

 

[anil02]

Thanks to support my opinion. Barbing and Beauty parlor are best one job in these days because peoples are some more caring about it. Like it if you are good in teaching than you start a coaching center. Baby care center is also give us good earning because in these day most of females are like to do job.

 

[saoussen5765]

Production have a lot of risk especially there are many criticea that product must respect like being nature friendly or something like that and being secured for familiar use.
While services doesn't require all these requirements you just have to provide such service, being paid and go away except if it is medical service or intervention, this assume a lot of responsibilities in this time.