I have a confession: I like Best Buy (NYSE:BBY). A lot. I blow 120 percent of my holiday budget and most of my annual tax refund (before Uncle Sam even cuts me a check) at the Big Box retailer.
But not everybody loves Best Buy. Some critics believe Best Buy and its Geek Squad tech troubleshooters will smother regional technology consultants--much in the way that The Home Depot (NYSE:HD) hammered local hardware stores.
Settle down, folks. There's no reason for alarm. Fact is, companies like Best Buy create more demand for technology consultants who serve small businesses. Thousands--perhaps millions--of small business owners first learned about WiFi hardware for their homes during daily visits to Best Buy. But now those same small business owners want WiFi, servers and voice over IP in their businesses.
Yes, Best Buy and its Geek Squad team will crush some technology consultants. You know the kind: The aspiring consultant down the block who's charging $50 an hour to install anti-virus software for his neighbor. Hopefully, you don't fit in that category.
There's even some concern that Best Buy will use its latest acquisition, Speakeasy, to push into broadband and computer security services.
That's possible. But instead of fearing Best Buy, get out of its way. Let them have the low-end PC support market. True technology consultants should investigate managed technology service solutions from companies like Autotask, N-able, Kaseya and Level Platforms.
Without a doubt, Best Buy is coming to your town. Let them fix your home PC while true technology consultants deliver higher-margin services to small and midsize businesses.