Single Person Service Provider

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Definition

Single Person Service Companies are companies that are staffed by one person: you. These companies are typically trade services like therapists, handymen, or attorneys. According to Inc.com about 75% of all businesses in the United States employed one person in 2010. Do the math and that’s over 20 million companies.

The usual revenue range for these ventures is $25K – $250K within the first 2-3 years of operation. They usually require $0 – $10K to get off of the ground. Because the startup costs for Single Person Service Companies are generally low, founders usually seek investments from friends and family or try to bootstrap. Also, since there is only one person working in a Single Person Service Company, marketing efforts tend to focus on local clientele.

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