Entrepreneur Library

Five Home-Based Business Ideas

Five Home-Based Business Ideas
By Samantha Garner, GoForth Institute
September 8, 2010

 

Lately, you’ve been dreaming of working from home. You’re drawn by its perks: zero commute time, reduced expenses associated with having a job, more time to devote to family. So what kind of business can you run from home? Here are five ideas for great home-based small businesses – your dream may be closer than you think!

Transcription Business

Transcription businesses can be a great idea if you have expertise in a specific field and good typing skills. Transcription is the conversion of audio into text, often used by medical and legal professionals. There are also opportunities for transcription in more general fields where specific knowledge of certain terminology isn’t necessary. Items to be transcribed usually include meetings, interviews, lectures, court hearings and clinic reports.

 

Virtual Assistant Business

You love organizing, planning and scheduling. You never miss a meeting and remember even the most complicated instructions. If this sounds like you, you may be able to take advantage of corporate advances in technology. Thanks to the ever-increasing presence of the internet, many companies are going virtual, and the virtual assistant field is growing. Virtual assistants give administrative and clerical help to any number of clients through a combination of phone, internet and teleconference – all without setting foot in a separate office.

 

Artistic Business

Why not make a business out of your handmade jewelry or stained glass hobby? Chances are good you already have the space and the equipment, so you may not need to seek out a larger studio. Specific considerations for home-based artistic businesses include the storage of increased numbers of supplies and equipment as well as venue of sale. When it comes to selling what you make, you may not want customers walking through your home to shop, so consider alternates like online selling, consignment, or a shared storefront.

 

Freelance Writing or Design Business

Freelance writers or designers are specialists in their field who perform tasks for a variety of clients.  These types of work are often well-suited to home-based businesses because they are largely done on a computer and the end result emailed to or downloaded by the client. For freelance writing or design businesses, make sure you invest in the proper software and equipment – this can mean anything from a colour printer to a cutting table.

 

Tutoring Business

Teachers or people with expertise in a specific area of education often find home-based tutoring businesses rewarding – and many parents of struggling students find them rewarding too. Tutoring businesses are fairly flexible – you can work with as many students as you like and work as many hours as you like. Set up a comfortable yet professional area where you and your student can focus and have room to spread out. Stick with your strengths and don’t stray too far from your area of expertise!


Samantha Garner is an award winning writer, editor, self-professed word nerd and leads GoForth Institute’s  corporate communications department.  Contact Samantha by email: samantha@goforthinstitute.com

 

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