I don’t get Entrepreneur Magazine sometimes. According to an article in the Las Vegas Business Press, Entrepreneur Magazine named a personal concierge service called “My Girl Friday” as one of the “hottest new franchises” in 2005. The first franchise was launched in 2005! How can a personal franchise business with one franchise in the personal concierge industry (seems I’ve been hearing its the hottest thing for the past 10 years) be named the “hottest” with ONE franchise?
The article’s author showcases her lack of business knowledge in this paragraph:
Hagenmaier projects that the Las Vegas operation of My Girl Friday will grow from one person to having from five to ten employees in the next 18 months. The company hires independent contractors, which mostly appeals to people willing to work flexible hours. Brommenschenkel explains that college students and retired workers make ideal independent contractors, because of their flexible schedules.
By definition independent contractors are not employees. It’s a small issue but that stood out to me.
Here’s more of the business description:
Services cost clients anywhere from $30 to $60 an hour, depending on the chore…My Girl Friday offers a full menu of services including traditional concierge services, personal chefs, errand running, pet care, party planning and assisting with business tasks.
She sounds like a personal assistant. So people will hire this woman as both a personal chef or party planner in Las Vegas? I suppose it is possible.
In my opinion, there are not many errands worth $60/hour. Most things for a minimal fee can be delivered and arranged quickly from a web site or one minute telephone call (travel, food delivery, dry cleaning, courier, pet sitter or walker). This business will be fighting technology and streamlined personal services offered directly from the service supplier (remember what happened to travel agents?). This is not a market I see growing or easy to establish a sustainable level of customers. Building a customer base that you serve on a daily or weekly basis will be exceedingly difficult. My Girl Friday franchises cost anywhere from $47,000 to $86,000, including the franchise fee.