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I am considering starting a bill pay service and would like to hear from someone with experience in this service. Is a bill pay service a viable business on its own, or do I need to offer other services along with that? My target groups are senior citizens, adults with impaired health, people who frequently travel, etc. Any wisdom in this area would be welcomed.
Are you referring to physically paying bills for clients or something else? Daily Money Management often includes paying bills for clients who can’t or won’t. Depending on your target niche, all of your clients could need this service or they may require other services in addition. I would guess that most clients are looking for other services as well.
For example, completing applications for heating assistance, document management, medical bill reconciliation, and the list goes on. It’s important to concentrate on what is important to you and what you enjoy doing. Also, decide what you WON’T do. You need to make those clear with a client up front.If you haven’t already, check out the member websites and click on Services provided to see what many DMM’s offer their clients.
Julianne
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