Utility Auditing Business
12/30/2013
Minimum Start-Up: $500 Average Start-Up: 15,000 Revenue: $35,000 - $1 Mil+ Profits: $20,000 - $500,000 One Person Business: Yes
Auditing is not a matter of magic. If you have the patience to sort through regulatory tariff and have a keen eye to spot billing inconsistencies, you can conduct an audit.
Utility Bills
Auditing utility bills has become one of the most popular areas of concentration for auditors because of the inherent complexity of billing for utilities. Utility rates are highly confusing because they differ depending on type of service, volume of usage, and promotional packages offered at the time of installation.
Getting Paid
Utility Auditors earn commissions, usually around 50% of any overcharge they uncover. And this is where you may need to exercise more of your patience. Although utility companies would gladly settle a verifiable overcharge (relatively quickly out of court), it may take them up to six months to issue any refund. This is particularly true with larger utility firms.
Commission Works
Most clients prefer to pay auditors on commission basis for two reasons: No upfront cash outlay, and no risk if the auditor comes back empty-handed. For the auditor, working on commission offers distinct advantages: It makes it easier for them to land clients, and it usually enables hem to earn more than if they would take a basic fee.
Making the Sale
The biggest challenge facing auditors is to get a potential client to admit that "there is a high probability that they (the client) overpaid for their utilities without knowing it". This issue is usually not a problem if the client is a small business where the owner makes all the decisions. However, the executive committee of a major corporation may feel threatened that they'll be held accountable for irresponsibly overpaying for utility.
Your job is to convince your potential client that overcharging does happen and that it is the job of an outsider auditor, and not people from within the company, to "fix" the problem.
Related Articles
27 Service Businesses to Start Now
8/8/2013
There are hundreds of opportunities in the service arena offering low-cost start-ups and high profit returns. Almost all can be run from home.
A Furniture Refinishing Business in Your Home
11/18/2013
If you have a garage or work building and are willing to learn a craft, upholstering, re-upholstering and/or furniture refinishing would make an excellent home business.
How to Find a Unique Product or Service That Will Make You Money
7/16/2013
I would say the most frequently asked question from beginners about opening their own business is "What should I sell?" I then proceed to ask them, "What interests and hobbies do you have?" Most don't know how to answer that question because they ...
How to Make $50 Mailing 150 Envelopes
7/22/2013
Order 5,000 3 x 6 commission circulars from your printer selling $1.00 items that you earn 50% commission on every order you receive. Have your name printed on them - it will save you hours of stamping time.
How to Give Away Magazines and Make Great Profits
11/19/2013
People are always interested in saving money. If you can develop a product or service that will help them save, you are almost guaranteed success.
Tweaking Every Last Penny Out of Your Garage Sale
2/8/2015
Garage sales are like any other form of business. To get the most money out of your garage sale, you have to know what you are doing. You have to be acquainted with the market, advertise for business, offer competitive prices and quality merchandise.
16 Ways You Can Make Money Collecting Things in Woods and on Beaches
8/6/2013
16 Ways You Can Make Money Collecting Things in Woods and on Beaches
Big Profits In The Sign Fabrication Business
11/19/2013
A few years ago it would have been foolish to even consider a sign business unless you were well qualified to hand paint letters and illustrations.
The Lazy Man's Way to Big Money Fast
7/20/2013
When the average guy thinks of enjoying himself he sees himself spending a lot of money to do it. He calls a travel agent to have a whole trip arranged and it cost him a fortune.
Riches through Creative Thinking
7/17/2013
When solving problems after you have exhausted the normal means of coming up with the solution, think in terms of unorthodox methods. Vary your thinking and try to solve the problems by creating something completely new and irrelevant.