Thursday, September 24, 2009
Thinking Of Part Time Business Ideas? Read This First!
Are you looking at part time business ideas as a way to use your skills and make money? You are not alone.
People use part time jobs to test out business ideas, to earn extra money while staying at home, and to earn additional income beyond that of a full time job.
Business opportunities abound, but you need to research the opportunities thoroughly and make sure they are the right ones for you.
Before you leap into a new business, here are some questions to ponder.
For Love Or For Money?
Not all businesses are about making money - sometimes they're a labor of love. You may enjoy beading jewelry so much, for example, that you've run out of appendages to adorn.
In this circumstance you may start a beading business just as a reason to keep beading - making a profit may not be as important as the enjoyment you get from the creative process.
On other hand, you may love beading jewelry and you'd really like to quit your job to do it full time. But you know that you will still have to pay for little things like groceries and insurance.
In this case, making a profit is essential, so you will need to plan out your approach with much more care.
To achieve profitability, you will need to research your market, develop a business plan, get a loan if necessary, find suppliers, have potential sellers identified, and know exactly how to make money before you think about anything else.
Here are some of our more popular small business ideas that are great for those looking to start out part-time:
•Become a career counselor
•Start a coin dealer business
•Crime scene cleanup
•Start a disc jockey business
•Become a home gunsmith
•Become a comedian
•Start a property management business
•Write songs for a living
•Become a ventriloquist
•Start a window advertising business
•Offer bodyguard services
•Start a gift wrapping business
•Become a holiday decorator
How Will Your Part Time Business Ideas Fit Into Your Life?
Selecting a type of business to fit into your schedule is essential. As the business grows, you may need to make adjustments, but at least initially you'll need to make sure your business and your time fit together well.
For example, if you're a college student, your best time for running a business is during the summer and winter breaks. While a personal shopping business might sound like fun, it may be difficult juggling shopping for your client's Christmas gifts while trying to study for your finals.
Likewise, if you work the third shift and weekends, you may not be available for a tutoring business, as most people will want to be tutored during the evenings and weekends.
In order to help your business to become successful, you need to be realistic about your time and energy commitment.
What Can You Invest?
As a new entrepreneur, you'll need to invest both time and money in your enterprise. Many part time businesses can start on a shoestring budget, but will most likely need a greater investment of time.
Lawn mowing, cleaning, tutoring and babysitting businesses are examples of ventures that have minimal overhead but will need a high work-volume to remain viable full-time.
If you can invest more money you can utilize technology by purchasing a computer and using it to earn money online. Resume drafting, virtual assistants, and writing businesses can all be conducted from the comforts of your own home - and often on your own schedule.
It's possible for everyone to find a part time business that excites and challenges them. It's also possible for everyone to find part time business ideas which have enough potential in them to earn a full-time income.