Wednesday, March 25, 2009

Top 10 Best Home Based Businesses to Start During a Recession

By Lynn Keller

With the economy in shambles and unemployment on the rise, is now a good time to start a business? Yes, if you choose smartly a home based business can allow you to thrive financially while still having the flexibility that will allow you to be there with your family. Here are the top 10 best home based businesses to start during a recession.

1. At home daycare

Starting an at-home daycare is one of the top 10 home based businesses to start. With daycare being so expensive and so impersonal, many working families prefer to use home day cares where there child will get personal attention at a reasonable cost. This business is easy to set up but be sure to have contracts that you stick with. Check for local regulations before you begin.

2. Pet sitting / dog walking

Even in tough economic times, people keep spending on their dogs and cats. Starting a pet sitting business is a great way for animal lovers to make extra cash. In addition to pet sitting, you can also offer dog walking for people who are stuck at the office all day.

If you are serious about starting a pet sitting business, be sure to become bonded and insured.

3. Web design

You don't need to be extremely skilled to start a web design business. All you need is a knack for selling to the local businesses in your area. Many of them don't have a web page but spend thousands on expensive and ineffective yellow page advertising.

Learn what kinds of sites business owners want and how to sell it to them, and you can always outsource the technical work.

4. Freelance writing

Many people make extra money with freelance writing, and some make a career out of. There are many places that you'll be able to sell your work, both online and offline. For offline gigs, pick up a copy of Writer's Market. For online work, find people who need articles, ebooks, and autoresponder emails and offer it to them at a competitive (but livable) price.

5. Accounting

Accounting isn't for everyone, but if it is something that you enjoy consider becoming certified and offering your services. You can either start your own business or buy an existing franchise.

6. Blogging

It's possible to make six figures blogging, but you'll need to write frequently and spend your time wisely. There are many ways to get paid by blogging, whether you are selling advertising space, selling products for affiliate commission, or by displaying Google AdSense.

7. Virtual Assistant

If you are organized and enjoy learning new things, consider becoming a virtual assistant. Network with small business owners to see what kind of help they need. You might help them by running personal errands or maintain their websites.

8. Business Coach

Business coaching is one of the most profitable home based businesses you can start. If you can help a business succeed in a certain area, consider becoming a business coach.

9. Affiliate Marketing

If you want your home business to be internet-based, consider affiliate marketing. With affiliate marketing you get a commission of products that you sell.

10. Information publishing

Information publishing is a huge business and there is always room for another publisher. Think about all the newspapers, magazines, and nonfiction books available. They are all selling information. You, too, can sell information that other people are willing to pay for. This can be done in the form of ebooks and downloadable guides.

The number one thing to remember when you are choosing one of the top 10 best home based businesses is to follow your passion. If you provide a service or a product that others need and keep your overhead costs low, your business will be able to thrive in a booming economy or a recession.

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