Thinking about starting a home-based business and need some ideas for the type of business you can run? Here’s an AllBusiness article called The Top 25 Home-Based Business Ideas. As the title implies, it lists 25 ideas for home based businesses.
It’s interesting to note that all but 3 are service-based businesses. The 3 that are not (gift baskets, photography, and custom jewelry creation) require producing a product to sell. One thing to consider with businesses of these types is time. You know, that four letter word that everyone is subject to.
In a business where you have to create the products (for example, the gift baskets business) you will need to factor in the time it takes to produce the product. You will need enough time to make an adequate amount of gift baskets to sell and still have enough time to do the work that goes along with selling them.
In a service-based business, you are essentially selling yourself and your time as a resource. Take for example, the Child-care services. How many children can one (or two) adults in a home-based business realistically take on in any one day?
Of course there are ways to leverage time in these types of businesses – such as affiliate marketing, residual income, partnering, and so on. But time is a resource you’ll have to consider when setting up your business. You’ll need to factor in your time as you set your rates (if you provide a service) and your prices (if you create a product to sell).
Here are some other AllBusiness articles on the subject of home business opportunities.