By Dinna Chan VasquezManila Standard TodayHome-based businesses offer entrepreneurs the chance to embark on low-risk ventures that can become quite lucrative, while still allowing for the freedom that most companies can’t offer.
Gaurav Chitnis, a successful home-based business owner and creative writer in this field, said you should treat your home business like a real money-making endeavor.
“Many people treat their home business like a part-time business and hence do not achieve desired results. Most people start a home- based business to generate extra income. Always try to make it as efficient and as profitable as you can,†he said.
Chitnis also suggests that home-based entrepreneurs continue to study and do research in their chosen businesses.
He added: “There is always a danger of falling behind your competition. The Internet, newspapers, trade magazines, and business books might be a good place to start. But always remember that it is your original ideas that will make you real money.â€
Experts say a thorough business plan is still essential. This plan should include a detailed summary of the product or service, the type and cost of equipment needed and a projection of profits and losses for the first five years.
Here are ways to earn money while being a stay-at-home parent or single person:
Accepting sewing and alteration jobs. The shops at the mall are good but many people are looking for a less expensive alternative. This could be a potentially good business because when people buy ready-to-wear clothes, they seldom fit well. How many pairs of pants do people buy a year? Most of these pants need minor alterations, which you can do right in the comfort of your home for P100 or even less.
The basic requirements for a home-based sewing business are space, the amount of which should depend on the volume of business you’re planning to take on and a sewing machine and other paraphernalia such as needles, thread and pieces of cloth.
Printing digital photographs. In this day and age of digital photography, many people still want to see prints. Files on CDs or the computer are beyond them. You would need a desktop computer, a printer (the cheapest one costs less than P6,000), paper and ink (the biggest expense) and other related equipment. Unlike traditional printing, you would not need a darkroom, just small but sufficient space where you can place your equipment.
Consulting. Consultants charge fees for their knowledge, expertise, skills, connections, experience, and other assets. This business can be operated from home with standard office equipment and supplies. If your expertise is marketing, many companies are looking for a person who can boost sales. You would need a computer as reports and proposals are musts for consultants.
Running a one-man travel agency. You could actually be a travel agent while taking care of your family. First, you have to be affiliated with an accredited travel agency. The plus side of this job, aside from the commissions you will earn, are the great deals and discounts on plane tickets.
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Topic: Simple ways to earn money from home (for Filipinos) (Read 2281 times)