If you own an offline brick-and-mortar home services business, chances are that you have been hit hard by the COVID-19 pandemic. Embracing the power of the internet and the on-demand economy is the first step towards ensuring that your business is ready to take on the challenges that 2021 may bring.
Find success—on demand!
Traditional brick-and-mortar businesses have consistently been at the losing end when pitted against their tech-savvy rivals. When the COVID-19 pandemic caused lockdowns throughout the world in 2020, many brick-and-mortar businesses faced closure or were impacted negatively due to the lack of customers. Taking the example of the Mid-Atlantic region alone, over 50% of firms closed between January and May. This resulted in employment rates dropping by the same number and in many cases, even more.
Walk-ins are passé
Most traditional businesses rely on steady demand from walk-in or regular customers. A lot of these businesses also rely on this demand for cash-in-hand to continue operations. These businesses are hit hard by the lack of demand due to their near-total reliance on payments from customers. The on-demand home-services sector was hit hard, with most traditional stores shutting shop due to lockdowns or lack of demand. Larger companies such as Anago and Bathubatsu were able to pull through due to their large size, positive cash flows, and franchising models, but also suffered from lack of demand.
Why go the on-demand way?
Smartphone sales crossed the 1.5 billion mark in 2019. Newspapers, traditional print media, and yellow pages have consistently been losing readership, making mobiles the king when it comes to searching for information and services. Imagine your business expanding its reach to over 80 million people in the US alone, who account for nearly 42% of the adult population. These people typically live in urban areas and have helped on-demand startups such as Postmates, DoorDash, TaskRabbit, SweepSouth, JustLaundry, Kisafi, Wesabi, and many others overtake their traditional brethren in business volume even during the pandemic. These figures are more than impressive, and traditional print media or yellow pages cannot even come close to this in numbers alone.
How will the on-demand economy help my business?
The on-demand economy helps both providers and contractors. According to a joint survey conducted by Burson-Marsteller, the Aspen Institute and Time, nearly 22% of the adult population has offered their services or worked in the on-demand economy. These figures showcase the staggering untapped potential of the on-demand economy for brick-and-mortar businesses and how they can embrace the power of the internet and mobile apps to ride this wave of success.
-
Work on-demand
Provide services through contractors when needed. No need to open your store every day to wait for customers to walk-in
-
Earn through your platform
Manage payments online and earn commissions through services provided by your workforce
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Scale on-demand
Reduce or enhance your workforce without financial implications.
-
Reduce fixed expenses
As you only pay your workforce when they complete a job, your fixed-cost commitments are reduced manifold.
-
Reach a wider audience
Leverage the power of the internet and mobile technology to reach more customers than ever before!
Statistics from Intuit to help you make the switch
- Get a happier workforce: 70% – The percentage of satisfied workers
- Get a younger, dynamic team: 51% – The percentage of young workers (under 35)
- Provide services when customers want: 46% – The percentage of workers happy about flexible work timings
- Get additional manpower on-demand: 63%- The percentage of workers using the on-demand economy for supplemental income
- Improve your financial situation: 51% – The percentage of those who offered services in the on-demand economy and earned more than usual.
Some more facts and figures
- Global online on-demand home services market size during the pandemic: US$281.9 billion
- Estimated growth by 2027: US$4.1 trillion
- Industry cumulative CAGR: 46.7% (2020-2027)
- CAGR of home repair and maintenance: 49.3% (2020-2027)
- US on-demand home services market: $87.5 billion
- Regional market CAGR in USA, Canada, Europe, Africa: 39%
- Total market size: US$500 billion
- Employed professionals: 5 million+ (USA)
How can I scale my business with just an idea?
Uber and Airbnb were innovative ideas that scaled with the help of investor funding and became the unicorns of the on-demand industry. These two well-known names, coupled with international success stories such as Urban Company, SweepSouth, and Jiffy have made the on-demand home-service startup industry become one of the most-funded and highly sought-after avenues for funding around the world.
I love the idea, but is there a future in this?
According to Forbes, yes! As the world continues to reel from the after-effects of the COVID-19 pandemic, investors around the world are betting heavily on the on-demand home services economy to help individuals get more done every day. As people’s lives get even busier while working from home, on-demand home services and the on-demand economy remains their only hope to ensure that daily chores, cleaning, and repairs can be done without having to hunt through yellow pages and calling each provider to get quotes. On-demand platforms offer the convenience of getting the services your customers need from the comfort of their homes in one click!
If your brick-and-mortar business is looking for customers and a scalable workforce, look no further. Let our consultants help you get online, improve your finances, enhance your customer base and get more done! Schedule a meeting with our experts here.
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Understanding COSC Validation and Its Importance in Horology
COSC Validation and its Strict Criteria
COSC, or the Controle Officiel Suisse des Chronometres, is the official Switzerland testing agency that verifies the accuracy and accuracy of timepieces. COSC accreditation is a sign of excellent craftsmanship and reliability in chronometry. Not all timepiece brands seek COSC certification, such as Hublot, which instead sticks to its proprietary stringent criteria with mechanisms like the UNICO, reaching comparable precision.
The Art of Exact Timekeeping
The central mechanism of a mechanical timepiece involves the spring, which supplies energy as it loosens. This mechanism, however, can be vulnerable to environmental elements that may impact its precision. COSC-certified mechanisms undergo rigorous testing—over 15 days in various conditions (five positions, 3 temperatures)—to ensure their durability and reliability. The tests assess:
Mean daily rate precision between -4 and +6 seconds.
Mean variation, highest variation levels, and impacts of thermal variations.
Why COSC Certification Matters
For timepiece enthusiasts and connoisseurs, a COSC-accredited timepiece isn’t just a item of technology but a demonstration to lasting excellence and precision. It represents a watch that:
Provides excellent dependability and precision.
Ensures confidence of superiority across the whole design of the watch.
Is apt to maintain its value better, making it a smart investment.
Famous Timepiece Manufacturers
Several renowned manufacturers prioritize COSC certification for their timepieces, including Rolex, Omega, Breitling, and Longines, among others. Longines, for instance, provides collections like the Record and Soul, which showcase COSC-accredited mechanisms equipped with cutting-edge substances like silicon equilibrium suspensions to enhance durability and performance.
Historic Background and the Development of Chronometers
The notion of the chronometer originates back to the need for accurate timekeeping for navigational at sea, highlighted by John Harrison’s work in the eighteenth century. Since the official establishment of COSC in 1973, the accreditation has become a standard for judging the precision of high-end timepieces, maintaining a tradition of excellence in watchmaking.
Conclusion
Owning a COSC-certified timepiece is more than an visual selection; it’s a dedication to quality and accuracy. For those valuing accuracy above all, the COSC accreditation provides tranquility of mind, ensuring that each accredited timepiece will function reliably under various conditions. Whether for individual contentment or as an investment, COSC-certified watches stand out in the world of horology, carrying on a tradition of precise chronometry.
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로드스탁과의 레버리지 스탁: 투자의 신규 지평
로드스탁을 통해 제공하는 레버리지 방식의 스탁은 증권 투자의 한 방식으로, 높은 수익률을 목적으로 하는 투자자들을 위해 매력적인 옵션입니다. 레버리지 사용을 이용하는 이 방법은 투자자들이 자신의 자금을 초과하는 금액을 투자할 수 있도록 함으로써, 증권 시장에서 더 큰 영향력을 행사할 수 있는 방법을 공급합니다.
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레버리지 방식의 스탁은 기본적으로 자본을 차입하여 운용하는 방법입니다. 예를 들어, 100만 원의 자금으로 1,000만 원 상당의 증권을 취득할 수 있는데, 이는 투자하는 사람이 기본 투자 금액보다 훨씬 훨씬 더 많은 주식을 사들여, 증권 가격이 올라갈 경우 해당하는 훨씬 더 큰 이익을 가져올 수 있게 됩니다. 그렇지만, 주식 값이 떨어질 경우에는 그 손실 또한 크게 될 수 있으므로, 레버리지 사용을 사용할 때는 조심해야 합니다.
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맺음말: 세심한 선택이 필요
로드스탁을 통해 제공하는 레버리지 스탁은 강력한 투자 도구이며, 적당히 활용하면 많은 수입을 가져다줄 수 있습니다. 그러나 큰 위험도 고려해야 하며, 투자 결정은 필요한 사실과 조심스러운 판단 후에 실시되어야 합니다. 투자자 자신의 재정적 상태, 리스크 감수 능력, 그리고 시장 상황을 고려한 조화로운 투자 방법이 핵심입니다.
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