In today’s economy more and more individuals are seeking to buy or start profitable small businesses that have affordable startup costs as well as provide greater flexibility and a better lifestyle. Not surprisingly starting a home based business vs. a traditional business that requires a commercial space has emerged as a very viable alternative today for many entrepreneurs. Here are a few compelling reasons why.
Technology: Over the last 20 years or so there have been sweeping advances in computer and communications technology that make running a successful and professional small business from home extremely viable and affordable. The Internet as a business platform has also opened up a world of business opportunities that can easily be started and managed successfully from a home office.
Public Acceptance: Now more than ever owning and operating a home-based business is generally not perceived as being any less professional than operating from a traditional workspace. In fact many consumers are not aware nor even care if a business is run from a home office as long as the service or product they ordered is delivered as advertised.
Low Overhead: The fact that many home based businesses don’t required expensive commercial retail or office space to operate successfully is a significant advantage. Keeping overhead expenses low will greatly improve your chances getting past the challenging start-up phase and ultimately building a profitable and sustainable business.
So what are some of the best home based business opportunities to buy and start today? Here are a few of my general industry category picks based on trends and personal experience:
Small Business Marketing/Advertising: Im sure you have heard the old entrepreneurial maxim that you have to spend money to make money. Unfortunately many small business owners just don’t have the time or knowledge to run consistent and cost effecting marketing and advertising campaigns that are crucial for success. With the advent and emergence of Internet advertising and lead generation this is a small business service that can be highly profitable and effectively operated from a home office in my opinion. Pick a niche and get started!
Home Improvement Services: It is estimated that the home improvement and repair industry in the USA generates more than $250 billion dollars a year in revenue and continues to expand. With a huge and growing market, many home improvement and maintenance services that are in high demand from consumers (interior design, bath renovations, lawn maintenance, etc) can effectively be operated as a home based business. Another advantage is most owner operated businesses in this category have relatively affordable start-up costs.
Pet Owner Services: It is estimated that revenue for the pet care industry in the US will top $60 billion dollars in 2015 according to the American Pet Products Association. This is a very recession proof industry that can offer an abundance of niche business opportunities for entrepreneurs who love pets and desire to work from home. This includes offering high demand services like training, pet sitting, walking & exercise, waste removal, etc.
Other notable industry categories to considered starting a home business in:
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