Three paths to a home based business

If you’ve spent any time considering a home based business then you know there are literally thousands of opportunities to sift through. It can be quite overwhelming at first, because every opportunity seems to be screaming, “You’ll be successful if you follow this plan instead of that one!” If you’re at the end of your rope then take a step back and consider your options. Here are three basic ways you can start working from home:

Ecommerce

The web has made working from home easier and harder at the same time. As mentioned before, the web is full of all kinds of “opportunities” and it’s hard to know what’s legitimate. Ecommerce is one area that’s been proven to be profitable over and over again (ever heard of Amazon?). The basic idea here is to set up a storefront to sell products such as ebooks for example. As an ecommerce entrepreneur you’ll have to analyze the market to increase your chances for success. If you can find products with decent profit margins that are in demand then you’re well on the way. Of course, it’s a bit more complicated than that and factors like competition and suppliers can make things more difficult. The process of getting an ecommerce storefront up and running can be arduous, but once you start making money most of the work will be in customer service.

Creative solopreneur

The next option is for all the creative types out there. Do you make art in your spare time? Do all your friends wear the custom necklaces you make for them? Are you well known for customizing your clothes to meet your style? If you answered yes to any of those questions then you could probably make money as a creative solopreneur. In this case you would be bringing in the cash by selling your creations and branding yourself in relation to the items you make. Think of “Sally’s Summer Dresses” or “Michael’s Metalwork Sculptures” to get an idea. If you make cool stuff and people want to buy it then this is definitely a great option. You can sell online (similar to the ecommerce above) or you can try to get into local shops or retailers. This option is great for creatives, but a lot of success can be something of a pain. If you’re making all the product, then there’s obviously going to be a breaking point where you can only make so much. At that point it becomes a balance between prices people are willing to pay and your output ability. Don’t worry if you aren’t creative, you still have other options.

Work from home franchises

The list of work from home franchises is quite long, which is also a bit of a double-edged sword. Some of the companies offering franchises are just out to make a quick buck and want to take advantage of people. That said, there are reputable companies that want to see you (and, by proxy, the company) succeed. These businesses usually offer you a business plan and guidelines to work with after you’ve bought into the franchise. The scope and cost varies from company to company, so you’ll have to do some research to make the right choice. You’ll also want to spend some time vetting the company to make sure it’s legitimate. Try to focus on companies that have a good reputation and people vouching for them. Watch out for newer companies because it’s harder to find good information to inform your decision. The extra time up front will more than pay for itself in the long run.

Choose one of these strategies and start out on the path of owning a home-based business.

Author’s bio: Carolyn is a guest author and expert on order management software. She helps people do everything from tracking Shopify inventory to integrations with 3dcart and BigCommerce.