Gästeforum » For years, mainstream banks and financial advisors hav

Starting a concierge service is a great way to become your own boss and take command of your financial future. A growing number of people believe that self-employment is part of the American Dream and offers the best job security a person can hope for in these uncertain times. Therefore Jerry Rice 49ers Jersey , while not for everyone, a concierge service can be a fun and profitable way to make a living as the rest of us slave away in offices doing the weekly grind. Here is some useful information for anyone thinking about starting a concierge service and living the American Dream.


Estimated start-up costs and pricing guidelines:
Actually, most of us already have almost everything we need to start a concierge service. On the list of essential equipment is: cell phone, computer (preferably a laptop), fax machine Joe Montana 49ers Jersey , printer, and perhaps a color copier. All told, you might be out $2000 if you had to buy everything from scratch.


The amount you charge really depends on your time investment and the services you are providing. A lot of concierge services charge a monthly membership fee where a person is allotted a specified number of errands. Others charge by the hour while some by the errand. Generally speaking, starting a concierge service will net you any where from $24-125 per hour.


Recommended experience, skills Mitch Wishnowsky Youth Jersey , and training:
Starting a concierge service certainly does not require any college degree but it wouldn't hurt. A background in sales is probably best for anyone serious about succeeding with a concierge service. Since your entire professional life revolves around making good contacts and selling yourself and your services on a daily basis, a sales background comes in very handy. Any training involving general business and sales or marketing is also valuable.


Marketing tips:
Any successful concierge service will have to effectively network and find the best deals on the products or services their clients are wanting. Targeting airports and hotels where large numbers of strangers enter your town every day are great places to concentrate marketing efforts as they are filled with people in need of services in your area. A company website is another great idea as your target market will most likely consist of white collar people who are Internet savvy. Be sure to have your content list your location consistently so that you come up in searches performed on your area.


Financing sources:
Banks tend to view a concierge service as a high risk business due to its unpredictable nature. There just are no reliable business models to use and they depend upon the charisma and determination of the owner in order to succeed. Thus, financing options are limited to friends and family. But, fortunately the start-up and operational costs are relatively low so financing should not be too great of an obstacle for most.


Income Potential:
Starting a concierge service may be a fairly large risk in the eyes of a bank, but it has above average income potential for those with the determination to make it work. On average Jalen Hurd Youth Jersey , a personal concierge makes $40,000 to $60,000 per year. But, many concierges make extra money from stores and contractors who pay them a commission for sending business their way. It is not uncommon for a personal concierge to charge annual membership fees of $1000-1500 to an individual and average $5,000 in annual dues from corporate clients.


Starting a Concierge Service may just be the escape from the rat race that you have been looking for. With low start-up costs and above average income potential Deebo Samuel Youth Jersey , the prospect of getting paid good money to run errands never looked so good. If you are ready to start living your American Dream, then think about Starting a Concierge Service today and begin living that dream!

For years, mainstream banks and financial advisors have been recommending that you pay extra cash into your mortgage account in order to cut down the huge interest amount and reduce the period over which you pay back the loan.

For example, if you borrow $200,000 over 30 years at a rate of 5% Nick Bosa Youth Jersey , your monthly repayments would be around $1074. Over 30 years, you would actually pay $1074 x 360 (months), which is $386,640. That's a of $186,640 in interest!

Now if you could find an extra $246 a month Solomon Thomas Youth Jersey , and pay $1320 a month into your mortgage account, you would cut 10 years off the repayment period - the loan would be fully paid in only 20 years instead of 30 years. Moreover, your total payments would be $316,664 -saving you $69,756! Looks like BIG savings for you right? Not so fast reading.

You see Dante Pettis Youth Jersey , the flaw in this technique is that it ignores the time value of money.

The banks, mortgage lenders and other financial types know that money is worth less now than it was when they were younger. Take that $1074 mortgage repayment for instance, in 30 years time, when the last payment is due, it would only be worth $437 in today's money (based on current inflation growth).

A dollar now is always better than a dollar in a year's time or in 10 years from now.

How does the time value of money affect our example?

You cannot simply subtract the mortgage interest amount for a 20 year mortgage from the interest on a 30 year mortgage. What you need to do is calculate the Present Value of each mortgage.

The Present Value of a 30 year mortgage with repayments of $1074 at a 5% interest rate is $200 Mike McGlinchey Youth Jersey ,066.

The Present Value of a 20 year mortgage with repayments of $1320 at a 5% interest rate is $200,066.

Thus, the two repayment plans are exactly equal over time.

Much of this $69,756 'saving' on the interest rate is really no more than the result of you paying the extra $246 a month. That $246 a month for 20 years totals $59,040.

What if you took that $246 a month and invested it in Matt Breida Youth Jersey , for example, mutual funds?

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