There are many ways to make money from home. The first step is deciding what type of business to run. You can sell products in which you are interested; or start a much-needed service in your area like lawn care or running errands for the elderly. Assess some of your key talents. You can start a consulting business if you have significant experience in a certain field, such as marketing research, web design, auditing or organizing closets. There also are franchise opportunities you can operate from home. However, the initial investments are usually higher for franchises. Do something for which you have a passion, as you will likely be working long hours if you run your business full-time.
Instructions
1. Obtain the appropriate licenses for your business. Call your local city or county administration office. Ask about any special licenses unique to your area. Obtain an application for a DBA ("doing business as") if you use a fictitious name for your business. Obtain an application for a seller's permit if you will be selling products.
2. Find a product supplier if you are selling products. Contact wholesalers in your local area for products. Search for wholesalers through the National Association of Wholesalers-Suppliers website (see Resources). Look through industry trade journals for wholesalers and manufacturers. Use Dialog's Encyclopedia of Associations to search various organizations related to your products (see Resources). Search for manufacturers at Macrae's Blue Book (see Resources).
3. Call the wholesalers and manufactures. Ask them if they drop-ship products, which means they can ship products directly to your customers, preventing you from having to stock them. Select the wholesaler or manufacturer that provides you with the lowest per-unit cost and quickest shipment times.
4. Write a business plan for you business. Outline which markets you will target, such as local, regional or national markets. Search for articles related to sales growth in your industry. Make sure sales in your industry are trending upward, as this will increase your chances for success. Write down the types of employees you will hire.
5. Set the prices for your products or services. Use the suggested retail prices of your supplier if you are selling products. Check the websites of competitors for prices.
6. Create a website for your home business. Have someone custom design your website, if possible, as this will level the playing field with larger competitors. Contact your supplier for digital images of your products. Include all products and prices on your website. Include information about your company on your website and key benefits customers can expect from purchasing your products or services.
7. Promote your website through major search engines like Google, Yahoo!, Lycos and Alta Vista. Advertise your website through classified ads in various trade magazines. Place a classified ad in "Muscle & Fitness," for example, if you are selling fitness equipment or vitamins. Contact business in your area if you are selling a service. Make appointments to visit business owners and managers. Leave copies of your brochures and business cards, as business owners will judge you on your professionalism. Distribute fliers locally if you are running a lawn care, pet sitting or similar business from your home.
8. Maintain a computer database of your customers. Send brochures or coupons to customers every month or two, as a large percentage of your sales will come from repeat business.
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