CLIPPING SERVICE BUSINESS PLAN GUIDE
Are you thinking of starting a media monitoring business? If you are looking to starting a clipping service, you would ideally want to pick one that will serve your requirements as closely as possible.
A clipping service business can be an old or modern business. But, bear in mind that starting a clipping service business is far safer than some businesses in terms of risk and profitability. It is a very profitable business as it is growing in demand and popularity.
This business is pretty much misunderstood by people and that is why only a few people venture into the business. If you don’t know what clipping service is, here you go;
A clipping service is a media monitoring service that provides clients with clips of media content that is of interest to them.
Normally, people find it difficult to get old information about something (event, news, offer) they are interested in. This is where a clipping service business comes to the rescue.
Here is a sample business plan for starting a news clipping company.
If you are considering starting a service business, it will be best if you start a clipping service business. This is a business that people are patronizing very well because it helps them save a lot of money in the long run.
Type of Clipping Service You can Start
- Online Clipping Service—Web page clips
- Broadcast Clipping Service—Video clips
- Print Clipping Service—Newspaper, Magazines, Coupons, etc.
- Coupon Insert Distribution
So, from the types of clipping services listed above, you can choose the service types that you would want to venture into. But, irrespective of the clipping service you choose, you might want to read this post till the end so you know how to go about starting a clipping service of your own and become your boss.
Choose your Niche
This is something you have to do first before anything else. You have to decide which of the clipping service you want to focus on. As from the three broad types mentioned above, you can’t venture into all of them. You have to focus on one of them and stick to it.
Most people go for coupon clipping services as consumers get to patronize them to save money when they run into hard times financially.
I am not saying that other clipping services ain’t profitable, they are. Other hot niches are newspaper/magazine and online clipping. So, do your research on any clipping service that you would like to venture into and make the right decision.
The niche you choose determines who your target customers will be. For newspaper clipping, your target customers are organizations. For coupons, your target customers are, shoppers. For online clipping, your target customers are online publications and article writers.
Set Your Service Charges
The fee you will be charging for your clipping service business will depend on the type of services that you will be providing to your customers. You can be charging weekly or monthly.
Your fee can range between $50 to $350 in a month. You can also choose to charge for each set of clips you provide to your customers.
The fee might be small when you compare it with how much you might be making from other businesses. But, think of having more than 5 clients on your list that you will be providing clipping services for. You can see that it will increase your income.
Create a Business Plan
After deciding on your niche and service fee, you will need to come up with a business plan for your clipping service. You should know about the advantages of having a business plan outside using it to request a loan from the bank.
Draw a business plan so you can be organized and can measure progress as you grow your clipping service business.
Choose a Business Location
Location is optional depending on the vision you have for the business. If you choose to build a clipping service that will be serving thousands of customers nationwide with lots of staff, then you will need a business location.
If you will be running it as a one-man business, you can use your home as your office location. But, consider if you will be able to concentrate before picking your home as your office location.
Promoting Your Clipping Service Business
If you don’t promote your business, you won’t make any income at all. You can decide to use word of mouth if you are on a low budget. If you will be starting a big clipping service, you will need to save towards promotion and marketing.
You can use offline publications like magazines and newspapers to promote your clipping service. You can also use the internet, mostly social networking sites where you are sure your target audience hangs out.
Create a Database of Customers
Building a customer base for your service business can be very easy depending on the approach you want to take. Running a monthly subscription plan is one way to be assured that you have customers for a month or more.
Another method is giving your first customer a 7-day free trial of your service or a reduced fee if they can refer another client to you.
Clipping service is one form of business you can start with little capital and generate money for yourself and generation to come.