The moment you want to open a business, it’s not always best to dive head first, especially if you don’t possess the capital or the knowledge to monopolize a particular market. Fortunately, a home business can help you tremendously if you plan to be a part of the business world without taking high financial risks.
As a beginner it is hard to decide in what domain you are going to start a business, and the large variety of available options will only make things that much harder. In order to do this you must do your homework. What does this mean? You need to do a thorough analysis of your abilities and the passion that drives you. Also, having vast knowledge in a field will also help you decide which business idea suits you best.
Below we will present you four business ideas that you can start from home. Later down the road these can evolve into a more complex business should the business environment conditions prove in your favor.
1.Tutoring
Tutoring is a necessity when pupils or students are faced with difficulties in their school or college activity. Whether you’re a +A student with relevant studies in a field, a professor or even a retired professor, this type of business can help you earn some extra money, or, why not, it can become your main revenue stream if you have plenty of students or pupils to tutor. The main advantages of this type of business is that it is easy to start, it does not require a consistent initial investment. For this hobby to become a reality you need to possess the necessary teaching skills, the patience and the will and desire to teach others.
A tutoring business is easy to promote, does not require all that much, only the good results of the students or pupils that will spread the word around. By doing this, they will help you gain new “clients” which you will to tutor.
Some tangible standards must be taken into consideration. The fee must be in accordance with the market reality or even sub-market in the very first stage of your business. Doing this you are able to attract new clients and build a reputation.
The subjects one will teach can vary depending on the skills of the tutor, whether it’s foreign languages, art or the necessary subjects the pupils need for college. A small age difference between the pupil and the tutor can become an advantage given the fact that in most cases this determines the former to be more open towards the tutor. Moreover, the teaching experience of a retired professor shouldn’t be disregarded.
2.Accounting
If you’re an economy major, or you went at an economic high-school or you’ve taken some specialized courses, you can hold the primary accounting for small firms. To do this, in some countries you don’t need a special authorization. However, while you can be an accountant without a CPA certification, CPAs have an advantage over their noncertified peers. If you want to become a CPA visit the American Institute of CPAs website for information on specific state requirements.
More and more firms are beginning to externalize their services to people that posses the necessary skills to ensures that mistakes do not occur and that every aspect of the business is in legality.
If you want to be your own accountant that’s perfectly fine. However, in order to do so you must be up-to-date with the current legal practices and regulations that will help you keep accurate and correct accounting data.
Promoting this type of business can be done through the same channels as the business idea mentioned above. In addition, if the quality is top-notch, you will be recommended by your clients to others. Organization should be your main focus if you want to become a part of this field.
This type of service is ideal for entrepreneurs that cannot handle the management of finances or that simply do not have the necessary time to do the books.
You need a meticulous way of thinking, a passion for numbers and honesty to be able to run an accounting business. Business networks can provide you with new potential clients and the possibility to create a reputation in this domain. Create business cards, even a website, with written or video testimonials of the clients that were over the moon with your services. Plus, having a computer with specialized software in the domain will facilitate your work tremendously.
3.Creating and distributing handcrafted objects
To open a business like this some investments are necessary. First of all, you need the materials that will help you create the handcrafted objects. In addition, getting the word out there by means of promotion is a solid option. Associations pertaining to the domain from different regions of your country can be of great help when you are trying to promote your products. To ensure that this type of home business is successful you need to be creative, have a great deal of patience, talent and determination. This domain offers great diversity and the promotion can be done through social media networks of websites pertaining to the domain. In addition, you can sell your products by taking part in different fairs that sell handcrafted objects/products.
This is where the phrase “the sky’s the limit” comes into play. Imagination is your best friend. You can create clothes, bags, leather objects, decorations, scented candles, accessories, cosmetics, toys, origami and many others. Depending on your abilities, you can also consider quilting, sewing, crocheting, knitting, pottery; everything that presents a market demand.
There are multiple advantages such as: a flexible schedule, the fact that you are able to do what you like in a pleasant environment. However, you have to take into consideration the less positive aspects such as the initial promotion costs, the raw materials and expediting costs that will take some time to cover until you have a solid clientele and the fact that you might get bored with the routine work.
4. Cleaning services
The best outcome out of creating a cleaning services firm is to sign contracts with firms that are in the look for cleaning services.The vast majority of businesses that ensure cleaning services start as home businesses for regular people. The success of the company depends on the service quality in comparison with the costs.
More and more people with different career status have less and less time for household chores, focusing mainly on their professional life that takes up most of their personal time. At first, the demand may be low, however, once you become more experienced, the work time will lessen, while the clientele will significantly grow.
During the first few months after your many is founded, you will have to make some compromises such as: work for friends and family, offer discounts or even work for free. Moreover, some clients may opt for cleaning services with ecological cleaning products.
If at first you will have to do the cleaning work yourself, you organize your time correctly so that you are able to run the business at the same time. With time, if your company becomes profitable, you can hire people that can perform several activities in your place.
