Great Ideas for Expanding Your Home-Based Business

For many of us, the thought of running a small, home-based business from the comfort of our spare bedrooms or perhaps even a garden office is a very appealing idea.

Great Ideas for Expanding Your Home-Based Business (photo credit wikipedia)

The idea attracts people for a number of reasons, the most common being reduced commuting, more time with the family, flexible hours, and of course, the challenge of turning a simple idea into a stimulating and profitable business venture.

Starting a small home-based business is actually relatively easy. All you will really need is a computer, an office or workplace and enough funding to get you through the first year of your venture. Once you have these basic requirements in place, it all then just comes down to your hard work and your determination to make the business succeed.

After the first year, most people feel confident enough to take their home-based business to the next level. This involves expanding their operations to draw more customers and increase profits. There are many ways to expand a home-based business.

1. Expand on Your Product or Service Lines

Once you have gained some momentum with your products or services, it is time to add additional related lines. This means offering your customers a wider range to choose from, as well as having a broader selection of products to offer new consumer groups.

2. Get some Help

An assistant can take a load off of your shoulders by doing some of the small, time-consuming tasks that just have to be done. You could get a friend to help you out or maybe even one of your children. You will be surprised at just how much time you make by hiring a part time assistant.

3. Mail Handling Service

A mail handling service will also help you to save time. There are many facilities available such as a Regus virtual office and other similar business services that can offer you reception staff as well as a centrally located business address.

4. The Wholesale Market

If you are running a small home-based business, there is a good chance that you are in the retail sector. From this retail position it is very easy to move into the wholesale market. This does not mean that you have to change your retail strategies as wholesale can be undertaken simultaneously.

5. Approach another Business

Working with another business can help with your business expansion. If for example, you are selling beauty products, you could approach your local hairdresser or beautician to see if they will carry your products. Having a second business on-board is always a good way to increase sales.

6. Branch Out

Branching out into another area is one of the slightly more risky ways to expand your business. However, if you do your research well, you shouldn’t really run into any difficulties. If your new product is sound, it should just compliment your existing products, increasing your overall sales.

7. Get a Website

If you haven’t got a website after your first year, it’s time to get one! You can easily do this yourself if you have reasonable computer skills or use a professional designer for the task. A well placed website could have a very positive effect on your business, so it is always worth investing in one.

Expanding your home-based business slowly will give you the time to adapt without any undue stress and with the minimum of financial risks. It will also give you the time to think about other new exciting business ideas.

About Sonia Allen

Sonia Allen is a hardworking professional who still finds the time to write between projects and deadlines. She doesn't focus on just one topic but likes to explore different subjects, including home improvement, entrepreneurship, real estate, investments, and more.