3 Great Home-based Businesses To Start Today
With the economy on an uptick and micro, home-based businesses growing, 3 super small, super simple service business ideas include Virtual Assistant, Proofreading and Editing Service, and Resume Writing.
Virtual Assistant
What the Business Does: Help small business owners who cannot justify a part-time or full-time employee with their administrative tasks. Ideal customers can be physicians, financial planners, or real estate brokers that need help with routine contact with customers, setting appointments, travel arrangements, researching a specific topic. Flexibility allows you to work from your office on your own schedule and take on as many clients as you want.
Startup Costs: $200-$2000
Earning Potential: $24,000-$50,000
What to Charge: $25-$60 per hour
Equipment Needed: computer and internet access, printer, phone, website, and linking to software and docs on various computers
How you find clients: web advertisements, flyers, local college, web and local directories, direct marketing
Skills Needed: great organization skills, ability to work with minimal instruction; executive assistant experience a plus, ability to multi-task
Time to Start Earning: 2-4 weeks
Home-based business: Yes
Cons: Some clients may expect that if they are in the office so are you.
Additional Staff: not needed, if you want to expand and employ others you can easily add additional staff working at your home or theirs
Other Costs: business insurance, office furniture if you are going to allow people in your office
Setting Yourself Apart: Do great work and people will refer you; pick a niche market and focus on it so you don’t have a lot of time switching between different types of tasks
Additional Services: Possible add-on services may include website design, online promoting, or taking calls when someone is out of the office for vacation.
Proofreading and Editing Service
What the Business Does: Provide editing services to individuals, instructors, and businesses that have written materials such as newsletters, booklets, or manuscripts. Offer to proofread or edit a written product for potential publishing or printing. Most customers in this field come to you with a project they are working on that they simply haven’t gotten done. Others will have a finished project in its final stages. Focus on a niche you really enjoy such as how-to manuals, sci-fi, textbooks, etc. and be the first to read upcoming information and books.
Startup Costs: $100 – $500
Earning Potential: $7,000-$35,000
What to Charge: $20 – $40 per hour; flat fee per job
Equipment Needed: computer, Internet, scanner, copier, and phone
How you find clients: Internet bulletin boards like Craigslist; universities, Internet
Skills Needed: excellent grammar and spelling skills, organization, time-management
Time to Start Earning: 4 to 6 weeks
Home-based business: yes
Cons: Sometimes clients want more than proofreading and editing. If those are your services, make sure you are clear what you are providing the client. Don’t spend too much time on customers that want the world for peanuts.
Additional Staff: not required
Other Costs: building a website; looking at potential projects; time for rewriting
Setting Yourself Apart: Great turn-around time, accurate work; additional services
Additional Services: freelance writing; newsletter writing; ghostwriting
Resume Preparation
What the Business Does: You work with people looking for a job that need assistance with preparing their resume for potential employment. You can provide the printing on quality paper, or give the client the file and have them print as they desire.
Startup Costs: $500-$2,000
Earning Potential:$15,000-$50,000
What to Charge: $50 -$100 per hour or $200-$300 per resume
Equipment Needed: Computer and printer; internet, access to quality paper
How you find clients: yellow pages, community bulletin boards; university boards
Skills Needed: attention to detail; computer skills; the ability to communicate with people
Time to Start Earning:2 to 4 weeks
Home-based business: yes
Cons: Watch your time. Make sure that you understand what the client wants from the project. You must gather accurate, important information from the client to include in the resume.
Additional Staff: no
Other Costs: insurance
Setting Yourself Apart: provide quick, good-quality work
Additional Services: business writing service; employment service; headhunter services
