Types of Business to Start From Home

by Arnold Anderson, Demand Media

nSh

Consider as many business ideas as possible before starting your home-based business.

Starting a home-based business is the goal of many entrepreneurs. One of the things that stops people from starting their own company is that they don’t know what kind of business to start. There are many types of businesses to start from home. The best way to find the one for you is to make a list, and then choose one.

Service Company

One of the things that you can do to make starting your home business easier is to use resources you already have. You could start several kinds of service companies with equipment and materials already in your home. You could start a landscaping company with just a lawn mower and a reliable vehicle, or you could just use the reliable vehicle to start a delivery service. Check with your insurance agent to make sure your auto insurance policy covers a delivery business. You could start a personal concierge business, which means running errands for busy people, or you could start a house-sitting business and watch people’s homes while they go on vacation.

Computer-Based Businesses

If you are comfortable with your abilities in using a computer, then there are many computer-based businesses you could start from home. You can become a graphic designer, and create images and logos for companies. If you have website development skills then you can use them to start your home business. You could outsource yourself to small businesses as a technical support associate over the phone. Companies would call you for support on various software titles and computer hardware components based on your experience. If you are competent with a word processor then you could start a resume creation company, or you could do marketing content creation for companies that do not have a marketing copywriter. You could start an online retail business by developing relationships with online wholesale suppliers, or buying and selling items on an online auction website.

Consulting

If you have experience in a particular field, then you may want to consider starting a home-based business using your experience. If you have experience as an accountant and are a certified CPA, then start your own accounting practice from home. You can put your years of sales experience to work in your home-based career as a sales consultant. If you have training in a particular musical instrument, then you can start a teaching business where you can teach from your home studio, go to someone’s home to teach or a combination of the two approaches.

How to Determine What Small Business to Start

Once you have made the decision to start your own small business, you need to determine what kind of business you want to own. To make sure you start the small business that is right for you, planning work needs to be done before making your final decision. Deciding what kind of business to start is equally as important as having the determination to create your own business in the first place.

Step 1

Determine if owning you own small business is the right career move for you. Starting a business means long hours, stress, financial investment and potential failure. However it can also bring pride, satisfaction, freedom and a sense of accomplishment.

Step 2

Write a list of your interests on a piece of paper. Those interests can be anything from hobbies, such as collecting baseball cards to refinishing old cars. Other things to consider include working with personal finance, services industries, such as a delivery service or office cleaning business, and computer work, such as writing Internet content or graphic arts.

Step 3

Analyze your list and cross off the things that you do not feel you have a strong enough desire to use as a business. For example, if you enjoy refinishing old furniture but cannot see yourself doing it as a job then cross it off your list. According to "Entrepreneur" magazine, you will also want to take potential client interest into account as well. Ask business associates and friends about your business ideas to determine what may or may not sell. The ideas that are consistently meeting a negative response may be very difficult to get off the ground and you may want to cross them off your list as well.

Step 4

Research the types of businesses left on your list to see what kinds of resources you would need to start them and what kinds of responsibilities you would have. For example, to start a pizza delivery business you would need ovens and a location. Customers would expect you to be open late into the night as well. If you do not have the resources to acquire that much equipment and you do not wish to own a business that is open later hours, then a pizza delivery business is not for you. Making this analysis can help you stay within your means during startup, and it can ensure that you take on a business that you know you can stay dedicated to. The way you can do your research is to visit the kinds of businesses you want to start and talk to the owners, or speak to friends with similar businesses to the kind you want to start. You can also spend time studying the business by visiting it and observing the operations. Internet resources, such as the online version of "Entrepreneur" magazine, offer startup information on a variety of businesses.

Step 5

Develop a list of pros and cons for each of the businesses you have remaining on your list. After analyzing the pros and cons you have developed for starting each business, you will be able to tell what kind of small business you want to start.