You might as a parent decide that you want to work from home so that you can work around the kids, but can’t decide what type of business to go for, or even if it will pay.
How can you choose the right home based business for you?
Firstly, be aware of the work from home scam that exist out there.
Beware: work at home scams
If something sounds too good to be true, chances are it is too good to be true.
Typical scams are promises that you can earn millions with little to no effort on your part. Just buy into their scheme and keep paying for little snippets of information to get you ever closer to that dream of financial freedom. By the way, those snippets of information will be just enough to keep teasing you along, but never quite enough to actually tell you how to do anything.
There are also affiliate marketing schemes where you’re required to pay an upfront fee, either to register for the scheme or to buy leads. But the leads won’t be quite enough to enable you to sell anything, so you’ll need to keep upgrading for more leads with the promise of even greater sales down the line. Unfortunately, all you end up doing is sinking your hard-earned cash into someone else’s pocket.
Others expect you to find recruits to buy into the scheme. You pay a small fee for a list and you’re told that you can earn even more money by forwarding it on. All you will end up doing is spamming people or forums with worthless nonsense.
If you’re thinking about buying into a ready-made company for your home based business, research the company first. Have a browse around the website. Do they have a registered office address, full contact details including a landline? Is there any support or training?
Network Marketing and Direct Selling businesses are popular with parents who want to work-from-home and there is often a fee associated with joining these. If you are thinking about joining one of these, check to see whether they are members of the Direct Selling Association. Legitimate network marketing/direct selling companies will take the time to sign up to their best practises.
Or if you are thinking about buying a franchise, first check the British Franchise Association for tips on what you should consider before joining. They also have a list of accredited franchise companies.
How to choose your new home based business
It’s likely something that you’re passionate about, so why not make a list of what it is you really enjoy doing? Include hobbies, as well as jobs you’ve done in the past. Alternatively, what in life really bugs you? What do you wish someone would ‘fix’? How would you fix it? This could be your business idea!
Consider your circumstances and lifestyle. What on your list is the most practical as a home based business? What equipment will you need? What costs are involved? What about childcare/school runs, etc., what backup might you need?
What opportunities in the marketplace are there for your business? Where will you find your clients/customers? Do you know what to charge?
And finally, talk to other home based business owners. Ask them for tips on how to set up and ways you can save money while doing so. What challenges do they face? What, given the opportunity, would they do differently?
It’s perfectly okay for you to take your time with your research. Not only will it stand you in good stead for a better chance of success in the long run, it will help you to steer clear of those dreadful work at home scams in the meantime.