10 BEST Home Based Businesses To Start During a Recession- Part 1

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10 BEST Home Based Businesses To Start During a Recession- Part 1

 

Need a Way to Make Some Extra Money From Home?

Let’s face it. Things are not getting easier out there and every day there are more layoffs,  more cutbacks in hours, more rollbacks in wages. And it isn’t going to change any time soon. A lot of service industries are suffering so there isn’t the same available part-time work for them either. Many people are unemployed and underemployed and if you’re one of them you need a lot more than just a one-time influx of cash, you need a stream of income that you can depend on.

 

What to do to? How to earn extra income?

One answer for many people has been to start a home based business. Often they have low start-up costs, they are flexible with your available hours and they leave you in charge of the times that you work. Many also allow for the hiring of additional help if your business demand expands to that point. The idea of being your own boss, and being in charge of your own destiny while making a few bucks from home has enormous appeal to a lot of people myself included. So without further ado, let’s dive into the first of the 10 BEST Home Based Businesses.

 

1. Network Marketing

This is by far and away the best opportunity for anyone who wants to get more than just money out of their business. In fact, I would argue that the growth in self-development will outstrip your income even if you make six figures or more per year. The reason this is the No 1 home based business recommended by Robert Kiyosaki and Donald Trump is the fact that you get all the infrastructure of a business when you sign up. Sales tools, training, ongoing support, mentoring and coaching are all included. You have a host of successful strategies to follow and resources are only a call away.  The business is very scalable and you can work from any corner of the globe and under almost any circumstances.

 

2. DayCare/Child Minding

Rising costs of transportation and time constraints have put a lot of parents in a tight squeeze. They need childcare services close to their jobs or else near where they live. If you are able to schedule flexible hours for your childcare facility you will never have to worry about running out of clients. That and having a clean, well run, cheerful environment will allow you to charge a premium and still have waiting lists. This is a business that can allow you to utilize students of an ECE program and others to help them get their required ‘field hours’. A true win-win situation. Check with local zoning and day-care regulations for your specific area.

 

3. Affiliate Marketing

If one of your goals is to have an internet based home based business this one is hard to overlook. It’s very low cost to set up and if you’re a good promoter you can make some very good money. It can be as simple as starting a blog and then reviewing products or services on that blog and making recommendations. If you have affiliations with those and people purchase them online through your link then you get a cut of the commission. It can be a great way to build yourself a blog following if you are an expert on a particular business niche.

 

4. Personal Trainer

Perfect for a fitness minded individual who doesn’t mind having a portion      of their home (or garage) set up as a training room. If you would love to have professional training equipment in your home it can be a good way to get it there on a tax-deductible basis too. You can either train people in your own home or you can produce videos that you can market online. Because they are so explicitly linked it might make sense to tie your training to a nutritional base company as well. There are a lot of network marketing and direct sale companies in this arena. Just make sure that the products you promote are science based and not going to reflect poorly on your training business.

 

5. Bookkeeping/Recordkeeping/Data Management

Many small to medium sized businesses do not have the time or the skills to effectively do these tasks. While this work isn’t for everyone, every business has to do it in one form or another. Small business owners will pay some good money to avoid having to deal with their accounts and receipts. They just want to do what they do best whether its hairdressing, landscaping, painting or deck building. They don’t want to have the additional late night hassle of keeping books. Once you build a bit of a name for yourself you will have to turn work away.  You can also align yourself with small accounting firms who are often looking for additional help with bookkeeping for their clients.

The remaining five businesses will be covered in the next Blog Post

Till Next Time…

 

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Sigrid McNab

Skype: sigrid.mcnab

Email: sigridmcnab@gmail.com

 

Work with Me- UsanaHealthSciences

 

Image(s): FreeDigitalPhotos.net

 

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About Sigrid McNab

Sigrid McNab is the author of #1 Amazon Best Seller, speaker and the CEO and Founder of sigridmcnab.com. Sigrid specializes in blogging, attraction marketing, and generating highly qualified leads. Sigrid teaches people how to build a successful online business.

View all posts by Sigrid McNab

14 Responses to “10 BEST Home Based Businesses To Start During a Recession- Part 1”

  1. * Steve Reiter * Says:

    A review by Sigrid of 5 of the 10 best home businesses and home-business models.

    [Reply]

    sigrid Reply:

    Thanks for sharing Steve!

    [Reply]

    Reply

  2. Steve Says:

    So THAT’s what else I could be doing with my time. ;-). Seriously, though, being so immersed in my own two businesses (one in network marketing, the other being a success coach), I haven’t thought much about the others that are out there. Nicely fleshed out.

    [Reply]

    sigrid Reply:

    Hey Steve, Just in case you want to start a third business, Ha ha

    [Reply]

    Reply

  3. Ginny Says:

    That is exactly why I turned to the internet years ago…
    day care cost was too expensive. 2 kids in day care would’ve been $400 a week. that’s $1,600 a month. It no longer made sense to leave the house to work!

    [Reply]

    sigrid Reply:

    Ginny, you are another example of the powerful positive changes the internet has brought to our lives. Congratulations on your decision!

    [Reply]

    Reply

  4. Robert David Strong Says:

    Hi Sigrid,

    Well first of all we would like to say great job on this post, there are so many different ways people can start and MAINTAIN a home based business right now. The key thing though for people is that they need to find something that they are passionate about and really enjoy doing, this will keep them in the game much longer.

    We also like how you only provided 5 and gave a reason for people to come back….tricky! We love it!

    [Reply]

    sigrid Reply:

    Thanks very much Robert, you are right. Now is the perfect time to establish or increase your home based business. It is true that our passions will keep us moving forward no matter what! If you thought this one was tricky, wait until part 2….

    [Reply]

    Reply

  5. Marquel Russell Says:

    Great Post, Sigrid!

    I love how you ended with the suspense and anticipation right when I started to get excited about what the last 5 were going to be!

    Great Post!

    To Your Infinite Success,

    Marquel Russell

    [Reply]

    sigrid Reply:

    ha ha! Thanks Marquel…

    [Reply]

    Reply

  6. Michelle DeMarco Says:

    Had to chuckle because I think I’ve done all of the above!!! LOL Now I’m sticking to my precious network marketing…the best in my opinion to make life changing income. Also the amaze sauce people you meet – and the training are key factors in why I chose Network Marketing as my primary business!
    Michelle DeMarco recently posted…Competition | Do you have what it takes?My Profile

    [Reply]

    sigrid Reply:

    Hey Michelle, you made a good choice there! It changes your life!

    [Reply]

    Reply

  7. Lauri Rickenbach Says:

    I’m not that much of a internet reader to be honest but your sites really nice, keep it up! I’ll go ahead and bookmark your website to come back down the road. Cheers|

    [Reply]

    Sigrid McNab Reply:

    Thank you so much for the kind words and support Lauri.

    [Reply]

    Reply

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