Being a stay-at-home mom is a wonderful way to raise your kids and avoid spending mass amounts of money on daycare. But, as your kids start to grow older, you may suddenly find yourself with too much free time on your hands. Starting your own business is a great way to contribute to household income. Whether it’s pursuing a passion or simply making cash, here are some of the best business models for the entrepreneurial mom.
Got a great idea for a product or a knack for creativity? Artists and inventors of every type can sell their creations online. For example, you can sell handmade jewelry, fun decor, gift baskets, paintings, photography and even homemade candles. You can either choose to sell through your own website or use existing platforms such as Etsy and eBay. If you’re selling through a website, make sure you don’t overpay for hosting services. New small businesses typically use shared hosting, which at $10 a month or less is cheaper than business hosting services. If you’d like to sell your products through an existing platform, Shopify makes creating your own e-commerce store simple, reducing the need to pay for help from a web developer or graphic designer. Just remember to create a separate space in your home for work so you can prevent life distractions from disrupting your productivity.
If you don’t want to create products yourself or even hold inventory, drop shipping may be perfect for you. Drop shipping is a method of selling merchandise by simply transferring customer orders and shipment information to the supplier. The supplier then processes the orders and sends the goods directly to the customer. This is great for moms of young children who don’t have the extra time to spend creating their own products to sell. Essentially, all you have to do is sign up with a merchandise supplier, set up a website, add products on it, and persuade people to buy. Just be warned that marketing your products can be tricky and requires a thorough business plan.
For those of you who prefer to stay out of the techie world, becoming a dog sitter is a great way to earn extra income. And, if you already have a dog, the work involved won’t feel too different from your regular routine. One of the best things about dog sitting is the flexibility to set your own schedule and prices. You can even choose the size and age of the dogs to ensure you feel comfortable caring for their needs. Just remember to get insurance to protect yourself from legal action if something happens while you’re pet sitting.
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If you like writing and sharing your crazy stories of parenthood, why not start up a blog? According to ProBlogger, once you have the foundations of an engaged readership, you can start making money through many different avenues. For example, you can make money by promoting other people’s services and products through simple advertisements on your site or affiliate marketing in your content. You can even promote your own services and products to your readers! To make the most out of your blogging gig, aim to have multiple streams of income from it.
Since you’re already at home with your own kids, starting an at-home daycare won’t interrupt your ability to spend time with your family. Before you start, make sure there is a need in your area for what you’re offering. Sarah Titus suggests providing something that other daycares in your market don’t, like organic food or a special learning curriculum. Of course, you’ll have to deal with proper licensing, permits, and training before you can get up and running, the specifics of which will depend on your state. Finally, you’ll have to put a lot of effort into coming up with a profitable business plan so you can budget your business spending and charge clients appropriately.
Making money as a stay-at-home mom is far from impossible. In fact, being forced to find creative ways to make an income and pursue your passions will open up doors you may have never thought existed. Most importantly, don’t let your home-based business run your life. Finding that elusive work/life balance is accomplished through setting firm boundaries and treating your job each day as if you’re going to work.
Stacey Riska, aka "Small Business Stacey" is a serial entrepreneur who is passionate about saving small - and not so small - businesses one marketing plan at a time. She helps business owners become a #SmallBizMarketingWiz by teaching them marketing strategies that get MORE: MORE leads, MORE customers/clients/patients, MORE sales, and MORE profit. Stacey's in-demand "Small Biz Marketing Success Coaching and Mastermind Program" is transforming the businesses - and lives - of those who want wealth, freedom, and market domination. Her highly acclaimed book "Small Business Marketing Made EZ" lays out the 6-simple-step plan to get your marketing into ACTION - literally and figuratively. Stacey is also the creator of Cups To Gallons, the place where independent coffee, smoothie, juice bar, ice cream, dessert and snack shop owners go to learn how get into lucrative catering so they stop selling by the cup and start selling by the gallon. In this program she teaches from experience, as it was the key strategy that transformed her coffee and smoothie business from being $500K in debt to a 7-figure profitable business. When not saving the small business world, she enjoys sipping red wine, eating chocolate (who doesn't!) and spending time with her amazing husband.
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