3 Low-Cost Ideas To Start a Home Business

The business life is often characterized by uber-professionalism: avant-garde office designs, Brazilian redwood conference tables and crisp, tailored suits and ties.

But who said you can’t make money sitting in sweatpants at the kitchen table? Nobody!

Income.com wants you to know the opportunity to make money is extended to any entrepreneur willing to take advantage of it, regardless of location or capabilities. As such, many are realizing that starting a home-based small business at a low cost is the best option to break into the business world.

There are quite a number of benefits to home businesses – they cultivate loyal customers, make you a local authority and give you free reign over decision-making and operations – but the key tostarting a successful home business is finding the right low-cost idea to run with.

There’s no shortage of viable ideas for starting a small business, but here are a few that could prove to be your best bet at a home business venture.

Tutoring

There’s little else more important than educating the youth, so why not do your part in advancing the cause and make some money while you’re at it? Are you a history buff? Do you know the quadratic formula like the back of your hand, or harbor a secret love for Isaac Newton? Your intellectual talents may earn you some extra green if you start a home-based tutoring business that caters to local students in need of some extra tutelage on all things grammar.

Get the word out amongst parents and neighbors in order to market your services. You can even pay the high school superintendent or elementary school principal a visit to lobby for a partnership.

Financial Services

There’s a massive demand for financial services because of complex tax code regulations and the absolute need for compliance in financial matters. Small-business owners with prior knowledge of financial matters by way of a college degree, previous employment or skills picked up while out “entrepreneuring” can parlay that fiscal ingenuity into big money.

A recent survey by the National Federation of Independent Business (NFIB) found 91 percent of small-business owners paid a tax preparer to handle their filings. Whether it’s accounting, tax preparation, business finance consulting or serving as a sales advisor, a startup in financial services is a top idea to start a home business.

Virtual Assistant

The buzzword of the past couple years since the recession hit is “outsourcing.” But instead of outsourcing manufacturing jobs to less costly labor markets, a rash of companies are outsourcing secretarial duties and other tasks to virtual home-based assistants.

You can stand to profit off such a trend by establishing your own virtual assistant service out of a home office. Companies are in the market for a number of services: client management, administrative jobs, copywriting. Just remember, you’ll need to fit your setup with a digital infrastructure that enables telecommuting and online video chatting, as you’ll most likely never be in physical contact with whomever you work for.

Income.com knows it can be hard to get out of your comfort zone, but what’s so wrong with staying in it – so long as you’re making money? As such, starting a home-based small businessis a low-cost, profitable option for many entrepreneurs looking to make a name for themselves in a local market. Whether you tutor students on the side, supply financial consulting or take care of office jobs remotely, home businesses can make an entrepreneur out of anyone.