A growing segment among small businesses is the home-based business. Home-based businesses mostly consist of one employee — the sole proprietor running them. On occasion, you may also find a home-based business with as many as a couple of employees.
With the advent of low cost home-office technology (fast computers, excellent printers, low telephone rates), home businesses are flourishing.
About.com’s Small Business Canada has an excellent round-up of the trends in home-based businesses. Susan Ward, the author, says these hot businesses are not for those who want get-rich-quick schemes. Rather, they’re for entrepreneurs serious about operating a business:
- Home Renovation Services - this is a hot trend. As the population ages, people want to stay in their homes and make them more livable.
- Pet-based Products – Pet owners are indulging their pets. The sky is the limit on what pet owners will spend.
- Catering Services – These services are not just for parties anymore. People are having everyday meals catered.
- Cleaning Services - Domestic cleaning services are in high demand. This is not a glamorous business, but there is a good market for it.
- Fall Prevention Products - Susan says falls are a major cause of injury among seniors.
- Wedding Planner - Marriage has not gone out of style.
- Dietary Consultant – This one is not just for weight loss, but for healthy eating in general.
- In Home Beauty Services - Personalized service for those who desire to look younger is the trend driving this business.
- Sewing and Alterations - Tailoring can be a lucrative business.
- Life/Business Coaching Services – Having a personal coach is a hot thing right now.
– Despite what we read in the papers about “low paying service jobs,” lots of entrepreneurs aspire to service businesses. Service businesses are easy to start up, don’t require much capital or equipment, and can be conducted from home.