Handy Cleaning Services have recently gained popularity among homeowners whose demand for cleaning services is enormous. It is a market that was not tapped into for a long time. However, the market has its challenges and impacts to the economy. The underground economy is fueled by the numerous opportunities that small and large companies offer to individuals within the local society. The idea of starting Handy home services was more than just cleaning. According to Hanrahan, Co-owner of Handy, it is just an entry point into the market. However, they intend to build a brand that has solutions to all home problems. With time, their strategic development is taking shape and people are beginning to appreciate the services. It is evidenced in the high number of bookings seek in the recent year. In fact, the company receives booking of more than $1 million a week, in revenues. It is commendable to find such an appreciation from the society. One may translate it as trust that has been built. One would also ask, what are the risks and benefits of operating Handy to the society?
Risk of Running the Business
Starting a business calls for a risk taking individual. It is said that risk neutral people do not succeed in business due to the fact that they fear getting into risk businesses. It is the high risk ventures that eventually have better returns. There are different risks that come with running such a business. Firstly, the company risks by getting into this venture due to the fact that loses may be seen. Consequently, there are equal chances of making profits. Therefore, as entrepreneur and co-owners, taking the risk is the only option, for them to find success.
The nature of the business puts the company relationship with its clients at risk. Unless otherwise clearly stipulated, the company may get sued for the actions of its sub-contractors. Bigcitylittleblog reveals that if a home cleaner that is already vetted goes and causes harm to the client, in whichever way it may happen, Handy is at risk of being taken to court. Therefore, it is a matter of trust and acknowledging personal responsibility. However, it is relieving to know that since inception, there has been no significant case that threatens legal action against the prime contractor, Handy Cleaning.
Role in the Underground Economy
The role that firms and start-up companies play in society is to improve the livelihood of people around the geographical setting. A company ends up causing employment thus reducing the unemployment in the region. By creating jobs, a lot of youth that were initially unemployed would stay aware from drugs and crime. The income generated from the activities makes people improve the quality of their life and the local economy. They create income generating opportunities make people enhance their spending power thus fueling the economy. On the same note, people are able to get access to their basic needs and wants easily. Therefore, companies like Handy end up touching the economic life of many people from whichever place they operate in, and serves as a pillar for growth of other businesses.