Pros:
1. Escrow services provide a safe and secure way for buyers to purchase goods or services without fear of fraud.
2. Escrow services can help ensure timely delivery of goods or services, as both parties have an incentive to complete the transaction in a timely manner.
3. An escrow service can provide additional security to both the buyer and seller, as funds are held in an account until conditions of the transaction have been met. 4. Starting an escrow business can be relatively low cost compared to other types of businesses due to its online nature and minimal overhead costs.
Cons:
1. Establishing a reputable escrow service business can be incredibly difficult and time consuming.
2. Depending on the country, you may need to get special licenses or permits in order to operate an escrow service business.
3. Escrow services businesses are highly regulated by local authorities, and any breach of the regulations can be severely punished.
4. Escrow services businesses require a large amount of trust by both buyers and sellers, which can be difficult to establish. 5. Escrow service businesses are highly competitive, with many established companies already in the market. This makes it difficult for new entrants to gain market share.