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What is a service company?

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Quick Answer

A service company refers to a firm that provides intangible goods or labor to a private consumer, government or any other organization. Such a company may specialize in providing things like advice, teaching or expertise, notes Accounting Verse.

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Full Answer

There are many types of service companies that provide assistance to people in need. A few such organizations include consultation firms, schools, repair shops and interior decorators, reports Accounting Verse.

Consultation firms are ones that provide professional advice to other companies. If, for example, a business is facing financial difficulties, it can hire the services of a financial consulting firm which is likely to analyze the situation and propose solutions to the problem.

Schools employ teachers who are responsible for imparting knowledge on students. In doing this, teachers are providing a service to the students under their care.

Repair shops are companies that are responsible for correcting any damage that may have occurred to an item. The companies do not replace the item but rather use their employee skills to return the damaged item into a functional state.

Interior decorators are usually called in to help make the home or office more beautiful or professional. The companies recruit employees that are able to assess any building and rearrange or accessorize to give it a more elegant look.

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