As any mom or dad knows, parenting is a full-time job. Nevertheless, some stay-at-home parents find themselves wanting to break back into the business world. Starting an online business may be the perfect way to earn some extra income and continue your career while spending plenty of time with your little ones.
Fortunately, there are many options that can help you start a business as a stay-at-home parent.
Before you start any business, you will want to write a business plan that should include everything from the types of products and services you offer to your business structure (LLC, S Corp., etc.). Your business plan can also help you determine how you will pay for advertising, raw materials, and other necessities. The ZenBusiness guide on how to start a company offers a more in-depth look at the process.
Your next step is to determine where in your home you will work. Since you won’t necessarily be working on a computer, you’ll need to create a safe space and, according to Pampers, make a schedule, particularly if your little ones are younger than three years and you’ll only have short bursts of time to work with few interruptions. Now is also a great time to invest in a baby monitor if you don’t already have one so that you can watch your child from your desk while they sleep.
- Selling at local craft fairs. If you like to make things and can get a babysitter a few weekends here and there, you can pick up some extra cash selling at local craft fairs. If you have less than $1000 to invest in starting your new business, consider buying a laser engraver. There are many high-end consumer models available that you can run from home if you have an area to vent fumes and smoke.
- Blogging. Blogging is an excellent way to get things off your chest and to connect with others in your proverbial shoes. Although Busy Budgeter asserts that you may need around 100,000 page views each month, if you don’t mind promoting yourself, this is an attainable goal, even if you only work on it part-time.
- Personal trainer. If you lost your baby weight as a result of hard work and dedication, there’s no shame in selling your knowledge and expertise to others. Consider becoming a personal trainer, which is a job you can actually do from home now, thanks to the internet.
- Social media manager. A social media manager is someone that helps other businesses post relevant content to engage and grow their audience. If you are comfortable on a computer and can dedicate a few hours each month per client, this is a great way to add to your own bank account.
- Bookkeeper. Contrary to popular belief, you don’t actually don’t have to have years of experience in accounting to become a bookkeeper. As a bookkeeper, you will help businesses maintain and upkeep their financial records and reports and ensure that all debits and credits are posted to the right accounts. You can do this through the cloud or as a part-time freelancer on days when you put your little one in a Mother’s Day out.
- Notary. Becoming a public notary is a quick and easy way to not only earn a small income but also to help members of your community legalize and finalize documents. Keep in mind that you can only sign when all parties are together, and it will always be your responsibility to verify the identities of those asking for your services.
Whether you have just had your first child or are working on a full house, working from home is an excellent way to reduce your financial burden and increase your future wealth. To get started, take the time to research what it takes to start a company, and then look outside of e-commerce for ways that you can earn an income on your own terms and in the time you have available.
As the saying goes, you need to spend money to make money. Most businesses will require some amount of startup money, and even once your business has been running for a couple of years, you will likely need more funding for expansion or inventory costs.
When first starting out, you may need to invest some of your own savings or ask friends and family members for funds. As your business grows more stable, however, you’ll be able to access more sources of funding. You can learn more about small business loans here.