Are you a stay-at-home mom (or dad)? Hoping to kick start an entrepreneurial dream or simply looking to bring in some extra income?
Here are some business ideas and considerations for stay-at-home moms!
Perhaps the easiest form of business to delve into and operate is freelancing. Whatever your skill – writing, web design, marketing, tax advisor, or photography – freelancing affords an enormous amount of flexibility and freedom, and can be started with little cost or paperwork. Many freelancers get their start by approaching a former employer or customer who could benefit from their services, then branch out as their body of work and reputation grows.
Freelancing does have its challenges and requires discipline – you are running a business after all. Common mistakes freelancers make include not setting the business up properly and legally (getting the right permits, or licenses), forgetting to put money aside to pay estimated taxes, and not planning for peaks and valleys in cash flow.
Become a Virtual Assistant
Virtual assistants (VAs) provide a wide variety of “virtual” services to other businesses including administrative, marketing and technical support from a home office. My local window cleaner, for example, uses a VA to answer his calls and manage his calendar while he’s busy on-site. VAs are growing in popularity, too, as firms look to cut costs and outsource administrative functions. If you are organized and have an administrative background, this might be for you. Start with your own connections or take advantage of the services of a VA organization or association who can help you get started and connect you with clients.
Start a Creative Business
Whether it’s making gift baskets or offering interior design consultation services, if you have a creative streak and the room to store and create, then why not consider making money out of your talents? Get to know the market and do some planning to identify an untapped niche. SBA has several tools that can help including the Build your Business Plan tool and SizeUp a market and business analysis tool that lets you benchmark your business against competitors, map your customers, competitors and suppliers, and locate the best places to advertise.
Start a Home-Based Bakery or Food Business
Food production from a home is heavily regulated but it’s not impossible. Take Martha Stewart, for example—she famously entered the food service business with a basement-based catering company in 1976. Before you start a home-based food business you will need to understand the rules and regulations that govern the production of food for public consumption in an at-home environment. For example do you need a separate kitchen? What about product labeling? And so on. For tips and insight, read: Starting a Home-Based Food Production Business: Making Your Culinary Hobby Your Job.
Child Day Care
Home childcare businesses offer a potentially lucrative and long-lasting business opportunity. A home environment is often appealing to parents and once their kids are settled (and assuming you are doing a great job), then it’s likely you’ll have that business until they are old enough not to need care.
Of course, this is another regulated business and you’ll need to ensure you comply with state and local regulations that govern issues such as the provision of meals, minimum space requirements per child, and the number of licensed care workers per child.
Start an In Home Tutoring Business
Teaching a musical instrument in your home is a wonderful way to make an income and also enrich a child’s life. Studies show that children have better memories, do better in school and are more disciplined when they take up an instrument. All this and you get paid for providing this service. Once endeavored, liability insurance is needed just in case the little one trips and hurts himself in your home or some other accident occurs during the lesson.
Other business ideas including a dog walking/pet care business, a travel agent, start a home-based franchise business, event planning or architectural design.