Will this business idea work in real world?

ViksuViksu Posts: 3subscriber Member
I am planning to start a business of providing service to employers. The service includes to give career as well as personal development products such as books, gifts, magazines and other related things to employees. The aim of this service is to improve work culture of a company as well as personal development of employees.  I am going to charge annually for this service.  

Please suggest your view on this business idea.  

Will HR people accept such type of third part services for their employees? 

Will be there any income tax implications for that annual subscription? 

​​​​Is this idea worth trying for business purpose? 

Thanks in advance.
Tagged:

Comments

  • Diana.kasimDiana.kasim Posts: 23subscriber Bronze Level Member
    I am not quite sure about your idea, so basically you help people to find jobs and support them during their career? Or you will work directly with employees through the company? 
  • ViksuViksu Posts: 3subscriber Member
    edited October 2018
    Hiee diana

    Actually i will not be involved in recruitment. I will be assisting HR department for employee development..ie providing them career related books, magzinmag and gifts on certain occasions like birthday and other stuffs. The aim is to give better experience to employees and improving overall efficiency of a company.

    Please assist
  • NOBOSSNOBOSS USAPosts: 3subscriber Member
    Hi There,
    Not sure where the "development" comes in with this idea.  The career related books, could they lead to employees getting better jobs outside the company, or will they focus on improving efficiency with EACH SPECIFIC company that uses your services.  Otherwise you're looking for companies to give their employees "gifts", right?  I think if your idea was a little more focused on the gift as it relates to the Company it could work. Ask yourself this question about your idea: 1) What would the employee gain from the "gift" that would benefit the company they work for? and 2) In what ways does the "gift" improve efficiency for the company?
    Really interested in hearing how this works out for you.  Good Luck!
    Lysa @ NOBOSS
  • ViksuViksu Posts: 3subscriber Member
    Hey Noboss..really appreciate your feedback.
    Well, my aim is to assist HR team of a company in their activities. One of them is human resources development. Here my target is to offer employees books or magazines to upgrade their knowledge that required in handling business processes. I think this will indirectly effect employee as wll as organisational  efficiency.
    Now coming to your questions
    1. Employee satisfaction is our task but employee delight is our aim. We want to cover some health related products as well. So it should be a win win condition for all

    2.i think most of it is already told but thies gift products will also help companies to increase their brand value. We are looking for branding of gift items.

    Our focus is not only on gifts but also on improving hr and employees relationship.
  • LarryNDicsonLarryNDicson 3287 Post Farm Road Atlanta, GA 30305Posts: 17subscriber Member

    As for me, there is a lot of competition. You need to come up with something new or have a lot of money on brand advertising. Many start this business and do not earn on it because of the lack of start-up capital.
  • WilliamW123WilliamW123 Posts: 10subscriber Bronze Level Member
  • Tuah BaoTuah Bao Posts: 118subscriber Silver Level Member
    It doesn't seem like "training and development", but more on "staff welfare".

    I believe your idea is to help an organisation to build a culture of learning and retain employees (by making them happy with gifts). These are usually part of HR functions and I don't think they will outsource something that they can do it easily.

    Why not provide team building service? It serves the same objective and has a more established market.

    As a rule of thumb, any income will subject to tax. However, you need to find out if there is any exemption in your country.
    Tuah Bao
    Accountant & Marketing Consultant
    Free marketing idea & advice at https://peopleaffiliate.com/services
    Free web hosting for life at https://peoplewebhost.com/
  • SkyrocketClientsSkyrocketClients Posts: 10subscriber Bronze Level Member
    edited January 2
    Who's gonna pay for it? Real examples show that the vast majority of companies have unoptimized workflow and greedy bosses. I've encountered how companies don't want to invest in necessary things like upgrading their software which requires lots of extra hours to deal with, not talking about any personal development. Not sure that would work.
  • Why-EyesWhy-Eyes Posts: 51subscriber Bronze Level Member
    I would say first build up yourself so people know who you are and let your expertise shine. Then you can promote your products because you have shown you have tried your own advice and it worked out amazing for you!
  • JJL2019JJL2019 Posts: 3subscriber Member
    Hey
    The questions you must ask yourself is there a demand for my service or product. It seems to be yes there is a demand for your services. But it seems that you have too wide a focus and need to narrow your field of vision. It is better to be an inch wide and a mile deep, than a mile wide and an inch deep. 

    best of luck 
Sign In or Register to comment.