One business at one location = one profile; a second profile for the same operation violates policy and risks both. Per SERVICE, same answer. You don't get a 'Smith Plumbing' and a 'Smith Drain Cleaning' profile for one shop; services live INSIDE the profile as categories and service listings.
Genuinely separate LOCATIONS each earn a real profile: staffed premises (or distinct service-area bases) with their own phone ideally. Add them through the same Business Profile account, 'Add business', so ownership stays unified.
The legitimate multi-profile exception: genuinely distinct businesses (separate legal entities, brands, and operations) sharing an address. Allowed, but expect scrutiny; make each one's independent existence obvious.