Concierge Service: What Is It? Interpretation & Business Schemes

When you get up, do you ever wish someone else did your errands so you could kick back and unwind? rather than spending hours in front of a computer screen planning your whole vacation or date? Which would you prefer—a professional lifestyle manager or your own assistant?

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Yes, there are businesses that offer these services. Employees there will go above and beyond for you as long as it’s right, moral, and ethical.

Welcome to the modern day, when providing concierge services has grown to be a significant and lucrative company strategy.

Explain Conciergeship?

Some claim that the word “concierge” originated from the French phrase “comte des cierges,” which means “the keeper of the candles,” as this was essentially the primary responsibility of concierges during the Middle Ages. Others claim that the word is derived from the Latin word “conservus,” which means “fellow slave.” However, the role and responsibilities of concierges have evolved throughout time. These days, they do practically all work for celebrities, high-level managers, VIP clients of hotels and banks, and anybody else with the means to hire them to handle their job.

Now, let’s define a concierge.

A concierge is a person or business that offers customized services to its clients (typically high-net-worth individuals) at a variable cost. They specialize in personal assistance as well as other assistance services like household management, lifestyle management, transportation, travel and vacation planning, etc.

The purpose of doing the client’s specialized or routine activities is to save them time.

Business Model for Concierge Services

Concierge services are a relatively new addition to the luxury market, mostly due to the long work hours of working professionals, technology advancements, and the ever-changing corporate climate. People’s lives now have insufficient time as a result of these restrictions. Now, all they want is more time, or someone to do the work for them so they can spend it doing the important things. This demand is capitalized upon by the concierge services business model.

Concierges used to be limited to hotels or opulent apartment complexes, where they helped visitors with reservations for dining establishments, spa treatments, tour recommendations, transportation arrangements, and other services. However, these people and businesses have since advanced and expanded to specialize in a wide range of jobs, such as booking reservations for restaurants, setting up tickets for concerts or other special events, organizing vacations, doing errands, and organizing shopping trips.

The services offered and the clients to whom they are offered vary throughout concierge service companies’ business strategies. While some concierges handle consumer complaints, others aid businesses in maintaining positive employer-employee relations, still others offer personal trip planning services, and yet others combine all of these functions by serving as lifestyle managers or personal assistants.

Here are a few popular business strategies for concierge services nowadays:

Medicine Concierge

Concierge medicine, also known as boutique medicine, retainer-fee practice, direct care, and membership medicine, is a widely accepted model in which patients receive more individualized treatment and easier access to their doctors in return for a one-time or yearly retainer payment.

The idea originated in 1996 when a Seattle-based physician proposed charging his patients a yearly fee or retainer in exchange for extremely attentive medical care. In a short period of time, the procedure gained international recognition and was adopted by other medical professionals.

The concierge medical business model benefits both patients and physicians. While the doctor receives prompt and individualized care, the patients benefit from not having to handle a large number of patients to make ends meet.

Retainer fees for this kind of service can go from a few hundred to tens of thousands of dollars annually. Health insurance coverage may or may not cover this, and it may or may not be additional to other costs.

Personal Concierge / Lifestyle Management

A commercial company or a professional handles the client’s personal activities, such as managing daily errands, pet sitting, home sitting, reservations, special event management, shopping, etc., as part of the lifestyle management service.

These concierge companies leverage their experience to save time and give their ultra-wealthy clientele incredibly individualized, exquisite service.

Concierge at the hotel

One of the first and most popular concierge services offered to high-net-worth individuals and VIPs is the hotel concierge. These concierges offer services like restaurant recommendations and reservations, spa treatments, transportation booking, special event ticket procurement, guest attendance and assistance, and more.

A Travel Advisor

The travel concierge (also known as the trip concierge) is a new business model in the concierge sector that has emerged as a result of the growing popularity and affordability of international travel. These service providers specialize in organizing trips and set themselves apart by giving their customers access to real-time information and round-the-clock VIP support.

These organizations arrange/book everything in advance for a flawless travel experience since they are extremely knowledgeable about the legal, social, and cultural elements of traveling to other countries.

Concierge Services’ Future

The internet and mobile gadgets have revolutionized the profession of concierges. These days, a guy in New York may ask his personal assistant in India to arrange his travel arrangements to Egypt. With only one text message, all of this may be completed easily.

Additionally, the industry is no longer unexplored or undermarketed. AI has been included into concierge services thanks to technological advancements, which has allowed this sector to attract consumers with moderate incomes.

With all of its intentions, Google Assistant wants to be your personal concierge. Assist is a well-known voice and texting automated assistant. Haptik is creating global conversational AI. With the release of Alexa, even Amazon has benefited from this emerging trend.

The future of concierge services is bright, given the recent increase in both supply and demand.