Advertising Sales Representative
Start-up cost: $2,500 and up
Potential earnings: $40,000–$150,000
Typical fees: Commission-only is standard and ranges from 5 to 25
percent
Advertising: Direct mail, small ads or classifieds in trade journals,
networking
Qualifications: Experience with an advertising agency or as a periodical
sales rep
Equipment needed: Basic office equipment, business cards, letterhead,
envelopes, laptop computer, cell phone (with or without
hands-free accessories)
Staff required: No
Hidden costs: Expect high phone bills and mileage expenses
What You Do
Th is business must be built on extensive experience in the field. Your expertise lies
in matching the need to the availability. If you know how, you can sell advertising
space in all publications to the advertisers who need it. Your job is to find a buyer
at a good price that might never have discovered this advertising venue unaided.
You’ll need contacts and experience to make a success of this enterprise, but room
exists for the independent rep and many earn $100,000 or more. Much depends
on the type of publication for which you’re selling ad space; for instance, if you’re
The 200 Best Home Businesses 7
selling ads in a trade journal or well-known national publication, your income will
be quite high. However, if you’re selling ads for a community newspaper, your
income may reach its peak at $35,000.
What You Need
Th e telephone is your major tool, and you may discover a great need for a cell
phone, particularly one with hands-free accessories (a necessity while driving
in some states). You’ll need access to reference books listing periodicals, rates,
and dates.
Keys to Success
If you love selling, this is selling in its purest form. No limitations bind you to one
focus, one time, or one perspective. Businesses need to advertise, and fi nding space
for their commercial messages can be a real challenge. Your services are the perfect
answer to their needs. Businesses’ penchant for doing the same things the same old
ways will be your biggest hindrance to getting new customers. Established agencies
are your competitors, and you will need to market your services vigorously.
Your best bet is to fi nd a few really good “anchor” customers who will advertise
on a long-term contract, then go after the smaller fi sh.
Monday 26 May 2014
Starting a Advertising Agency home business
Advertising Agency
Start-up cost: $7,000–$20,000
Potential earnings: $35,000–$75,000
Typical fees: $75–$150 per hour, a monthly retainer, or a per-job basis
Advertising: Networking, ads in trade publications, participation in
local chamber of commerce, and a Web site that is a true
showcase of your company’s talents
Qualifications: Knowledge of design, layout, and typography; writing
skills; experience working with businesses on brand and
identity development
Equipment needed: Cell phone (with or without hands-free accessories);
computer with Internet access and full suite of presentation
and design software; high-resolution color printer,
scanner; digital camera; fax; copy machine; business cards;
letterhead; envelopes
Staff required: No
Hidden costs: Your high-end Web site will definitely cost you some
money to design and host, but it’s worth its weight in
gold for helping you quickly secure a high profile in the
marketplace
What You Do
You’re probably not going to be doing the Cadillac ads for General Motors in
the beginning, but if you are motivated and highly skilled you can build up a
home-based ad agency serving clients in a specialized area. To get a foothold, you’ll
need to have at least some experience from a larger agency or a list of potential
clients who already know you and your work. Your participation in activities such
as indoor soccer or squash, etc., could be your lead-in to a small but profi table
market. Or you could specialize in one type of store, one product, or a type of
service. You will get to know your client organizations well, and you will draw on
all of your creativity, both written and graphic. New ways of getting a commercial
message out to the public, including targeted e-messaging, high-end Web sites
The 200 Best Home Businesses 5
with e-commerce and exciting new brand-building capabilities are revolutionizing
the advertising field, so creativity extends into the nature of the business itself as
well. Very few businesses can succeed without advertising in one way or another,
so your creativity and awareness of market needs has many possible customers.
You’ll need to educate your clients about the value of advertising, even when things
don’t seem to be going very well for the company. In fact, that’s when they need
you the most.
What You Need
High-end computers with the graphics and print-production software now available
enable small agencies to produce outstanding ads that once required an entire
art department. Setting up this equipment is expensive, though, and could cost
from $3,000–$5,000. Bill out between $75–$150 per hour, or determine your
rates on a per-job basis that takes into account how much work is actually involved
in the project. Many ad agencies also work on monthly retainers of $500 or more;
again, look at the workload and the time and expertise involved in each project.
For presentations, you might also find a laptop especially helpful, which could cost
another $2,000–$3,000.
Keys to Success
Advertising is a rewarding occupation because it relies so heavily on ideas and
inspiration, connected directly to business results. Successful ad agency personnel
(in this case, you) develop close relationships with their clients. You’ll be serving
an area or group that you know about and enjoy, and you’ll be using all of your
talents to do so. As a one-man (or one-woman) band, you must be able to do all
the facets of the advertising process, from sales to writing, design, and promotion.
But remember that it may also be very wise to partner with a good Web design
fi rm to add to your portfolio of services without adding a regular, full-time staff .
While this is a fun and always challenging business, its one downside is that the
pressure never lets up because the competition for clients can be shark-like.
EXPERT ADVICE
What sets your business apart from others like it?
For Carol Wilkerson, owner of Wilkerson Ltd., in Portland, Oregon, it’s
experience that sets her business apart: “I have over twenty-three years of experience
in advertising and public relations, and I have dealt from the bottom up with
any kind of promotional effort there is. Also, I’m small and selective about who I
work with, because I want to make sure I can really provide the top-notch service
the client’s looking for, turning things around quickly enough to keep them coming
back for more.”
6 The 200 Best Home Businesses
Things you couldn’t do without
Wilkerson’s business depends on a computer, laser printer, fax, telephone,
and overnight delivery services.
Marketing tips
“Before you start, determine what your strengths are and identify them for
your clients. You really run into problems when you start promising things you
really can’t do . . . you can’t fake knowledge and experience. Farm out what you can’t
do to others who can, and you’ll gain a lot more respect.”
If you had to do it all over again . . .
“Oddly enough, I didn’t promote myself well enough in the beginning . . .
I wasn’t a big enough cheerleader for my own business. It’s so ironic!”
Start-up cost: $7,000–$20,000
Potential earnings: $35,000–$75,000
Typical fees: $75–$150 per hour, a monthly retainer, or a per-job basis
Advertising: Networking, ads in trade publications, participation in
local chamber of commerce, and a Web site that is a true
showcase of your company’s talents
Qualifications: Knowledge of design, layout, and typography; writing
skills; experience working with businesses on brand and
identity development
Equipment needed: Cell phone (with or without hands-free accessories);
computer with Internet access and full suite of presentation
and design software; high-resolution color printer,
scanner; digital camera; fax; copy machine; business cards;
letterhead; envelopes
Staff required: No
Hidden costs: Your high-end Web site will definitely cost you some
money to design and host, but it’s worth its weight in
gold for helping you quickly secure a high profile in the
marketplace
What You Do
You’re probably not going to be doing the Cadillac ads for General Motors in
the beginning, but if you are motivated and highly skilled you can build up a
home-based ad agency serving clients in a specialized area. To get a foothold, you’ll
need to have at least some experience from a larger agency or a list of potential
clients who already know you and your work. Your participation in activities such
as indoor soccer or squash, etc., could be your lead-in to a small but profi table
market. Or you could specialize in one type of store, one product, or a type of
service. You will get to know your client organizations well, and you will draw on
all of your creativity, both written and graphic. New ways of getting a commercial
message out to the public, including targeted e-messaging, high-end Web sites
The 200 Best Home Businesses 5
with e-commerce and exciting new brand-building capabilities are revolutionizing
the advertising field, so creativity extends into the nature of the business itself as
well. Very few businesses can succeed without advertising in one way or another,
so your creativity and awareness of market needs has many possible customers.
You’ll need to educate your clients about the value of advertising, even when things
don’t seem to be going very well for the company. In fact, that’s when they need
you the most.
What You Need
High-end computers with the graphics and print-production software now available
enable small agencies to produce outstanding ads that once required an entire
art department. Setting up this equipment is expensive, though, and could cost
from $3,000–$5,000. Bill out between $75–$150 per hour, or determine your
rates on a per-job basis that takes into account how much work is actually involved
in the project. Many ad agencies also work on monthly retainers of $500 or more;
again, look at the workload and the time and expertise involved in each project.
For presentations, you might also find a laptop especially helpful, which could cost
another $2,000–$3,000.
Keys to Success
Advertising is a rewarding occupation because it relies so heavily on ideas and
inspiration, connected directly to business results. Successful ad agency personnel
(in this case, you) develop close relationships with their clients. You’ll be serving
an area or group that you know about and enjoy, and you’ll be using all of your
talents to do so. As a one-man (or one-woman) band, you must be able to do all
the facets of the advertising process, from sales to writing, design, and promotion.
But remember that it may also be very wise to partner with a good Web design
fi rm to add to your portfolio of services without adding a regular, full-time staff .
While this is a fun and always challenging business, its one downside is that the
pressure never lets up because the competition for clients can be shark-like.
EXPERT ADVICE
What sets your business apart from others like it?
For Carol Wilkerson, owner of Wilkerson Ltd., in Portland, Oregon, it’s
experience that sets her business apart: “I have over twenty-three years of experience
in advertising and public relations, and I have dealt from the bottom up with
any kind of promotional effort there is. Also, I’m small and selective about who I
work with, because I want to make sure I can really provide the top-notch service
the client’s looking for, turning things around quickly enough to keep them coming
back for more.”
6 The 200 Best Home Businesses
Things you couldn’t do without
Wilkerson’s business depends on a computer, laser printer, fax, telephone,
and overnight delivery services.
Marketing tips
“Before you start, determine what your strengths are and identify them for
your clients. You really run into problems when you start promising things you
really can’t do . . . you can’t fake knowledge and experience. Farm out what you can’t
do to others who can, and you’ll gain a lot more respect.”
If you had to do it all over again . . .
“Oddly enough, I didn’t promote myself well enough in the beginning . . .
I wasn’t a big enough cheerleader for my own business. It’s so ironic!”
Adoption Agency home business start up
Adoption Agency
Start-up cost: $5,000–$125,000
Potential earnings: $200,000–$600,000+
Typical fees: $12,000–$30,000 for each local and international adoption
The 200 Best Home Businesses 3
Advertising: Local family publications, adoption magazines, Web site
with photo-listing of Waiting Children and plenty of
adoption resources, banner ads on related Web sites of
interest, registration with search engines, referrals
Qualifications: Must be licensed by state and/or county
Equipment needed: Office furniture, phone, computers with Internet access,
letterhead
Staff required: Yes—will need at least one licensed social worker to do
home studies and possibly a team of folks to handle and
review adoption paperwork
Hidden costs: Notary services; postage; long-distance phone calls,
particularly to foreign countries
What You Do
For some, the dream of having a child in their family would never be realized
without the services of a qualified adoption agency. You can specialize in private,
local adoptions or include international adoptions from a list of specifi c countries
from which you’ve received permission to help place children in need of homes.
Whether the child is from China, Korea, India, Russia, or your home state here
in the United States, you will have to scrutinize potential parents through the
required home study process, match them with children who are the best fi t, then
off er counseling and support as the parents and child are united. You can also help
children born with special needs find the good homes they so deserve. Th is is a
business in which the blessings far exceed any financial benefits. Many adoption
agencies carry high overhead, so what seems like a fortune in potential earnings
can actually be off set a bit by the costs of staffing and running a busy agency. Still,
there are plenty of good reasons to choose this line of work, such as the more than
four million children currently residing in orphanages worldwide.
What You Need
You will need to staff an office with everything from people to computers, since
few hopeful parents would be willing to pay huge fees to someone who’s a sole
proprietor running an adoption agency out of his or her home. You need to instill
confidence in your abilities and qualifications from the outset, and then work hard
to keep your reputation intact in what can be a volatile business. It’s not unusual
for a birth mother in the United States to decide to keep her baby at the last
minute, leaving you and your client family back at square one.
Keys to Success
Reputation is everything in this business. You need to be honest and upfront with
your clients about all costs so that they don’t feel you are taking advantage of their
4 The 200 Best Home Businesses
emotional distress over not having a child. Keep posting new testimonials on your
Web site as you receive them—and don’t be afraid to ask for more. Better yet, create
a database of satisfied parents you’ve helped and who are willing to speak to your
prospects about how wonderful you are. Such a list is worth its weight in gold!
Start-up cost: $5,000–$125,000
Potential earnings: $200,000–$600,000+
Typical fees: $12,000–$30,000 for each local and international adoption
The 200 Best Home Businesses 3
Advertising: Local family publications, adoption magazines, Web site
with photo-listing of Waiting Children and plenty of
adoption resources, banner ads on related Web sites of
interest, registration with search engines, referrals
Qualifications: Must be licensed by state and/or county
Equipment needed: Office furniture, phone, computers with Internet access,
letterhead
Staff required: Yes—will need at least one licensed social worker to do
home studies and possibly a team of folks to handle and
review adoption paperwork
Hidden costs: Notary services; postage; long-distance phone calls,
particularly to foreign countries
What You Do
For some, the dream of having a child in their family would never be realized
without the services of a qualified adoption agency. You can specialize in private,
local adoptions or include international adoptions from a list of specifi c countries
from which you’ve received permission to help place children in need of homes.
Whether the child is from China, Korea, India, Russia, or your home state here
in the United States, you will have to scrutinize potential parents through the
required home study process, match them with children who are the best fi t, then
off er counseling and support as the parents and child are united. You can also help
children born with special needs find the good homes they so deserve. Th is is a
business in which the blessings far exceed any financial benefits. Many adoption
agencies carry high overhead, so what seems like a fortune in potential earnings
can actually be off set a bit by the costs of staffing and running a busy agency. Still,
there are plenty of good reasons to choose this line of work, such as the more than
four million children currently residing in orphanages worldwide.
What You Need
You will need to staff an office with everything from people to computers, since
few hopeful parents would be willing to pay huge fees to someone who’s a sole
proprietor running an adoption agency out of his or her home. You need to instill
confidence in your abilities and qualifications from the outset, and then work hard
to keep your reputation intact in what can be a volatile business. It’s not unusual
for a birth mother in the United States to decide to keep her baby at the last
minute, leaving you and your client family back at square one.
Keys to Success
Reputation is everything in this business. You need to be honest and upfront with
your clients about all costs so that they don’t feel you are taking advantage of their
4 The 200 Best Home Businesses
emotional distress over not having a child. Keep posting new testimonials on your
Web site as you receive them—and don’t be afraid to ask for more. Better yet, create
a database of satisfied parents you’ve helped and who are willing to speak to your
prospects about how wonderful you are. Such a list is worth its weight in gold!
Accountant, Accountancy home based business
Accountant
Start-up cost: $3,000–$6,000
Potential earnings: $20,000–$80,000
Typical fees: $35 and up per hour
Advertising: Membership and active participation in community
groups, ads in newspapers and publications for local
fundraisers, referrals, possibly your own Web site with tax
preparation tips on it as a resource for potential new clients
Qualifications: CPA and some experience with services on which you
choose to focus
Equipment needed: Office area, furniture, computer, suite software, printer,
business cards, letterhead, envelopes, cell phone is optional
but handy
Staff required: No
Hidden costs: Errors and omissions insurance, subscriptions and
membership dues, continuing education
What You Do
Th is is a service that virtually everyone needs. Th e challenge is to show potential
clients how you can improve their lives by helping them manage their financial
affairs better. Th e two major approaches chosen by solo accountants are (1) to work
with individuals on tax issues and personal financial planning and (2) to serve the
burgeoning small business market with bookkeeping setup, payroll, tax planning,
and all the other financial activities that an enterprise requires. You will need to be
creative in distinguishing yourself from this rather crowded field. How are your
accounting services better than those of the other accountants in town? How can
you show an individual that you can serve him better than the big storefront operations
that prepare taxes for low fees during the winter and early spring?
What You Need
Will you meet clients in your office, or will you travel to their homes or businesses?
These decisions will control your start-up costs (which could be as little as $3,000).
2 The 200 Best Home Businesses
Keys to Success
Being an excellent accountant and being able to create a profitable business are
two different things. Th e people skills required have probably been completely
neglected in your education and possibly in your experience if you have worked
for a large firm. Gaining the confidence of potential clients is far more than simply
having excellent accounting skills up your sleeve, which is why an informative
company Web site might be advantageous for business-building, especially in the
beginning. You’ll need to find a way to present your services in a way that appeals
to people who want your help but don’t really understand how you can best help
them find ways to save money. On the downside, your services will be particularly
needed during peak tax preparation seasons; you’ll be busiest in December and
March/April.
EXPERT ADVICE
What sets your business apart from others like it?
Personalized service and affordable rates are what set apart Kelly M. Zimmerman’s
accounting business in Cuyahoga Falls, Ohio. “I take a genuine interest
in my clients’ businesses. I really care about whether or not they succeed.”
Things you couldn’t do without
Zimmerman says she couldn’t do without a computer, telephone, and
calculator.
Marketing tips
“Get involved in an organization that you believe in personally and where
you can also promote your business. Marketing for accountants is basically
word-of-mouth, so be sure to do everything you can to keep your current clients
happy. They’ll send you more clients if they know you’ve gone out of your way for
them.”
If you had to do it all over again . . .
“I would try to be more organized and focused on the types of clients I
really want to serve.”
Start-up cost: $3,000–$6,000
Potential earnings: $20,000–$80,000
Typical fees: $35 and up per hour
Advertising: Membership and active participation in community
groups, ads in newspapers and publications for local
fundraisers, referrals, possibly your own Web site with tax
preparation tips on it as a resource for potential new clients
Qualifications: CPA and some experience with services on which you
choose to focus
Equipment needed: Office area, furniture, computer, suite software, printer,
business cards, letterhead, envelopes, cell phone is optional
but handy
Staff required: No
Hidden costs: Errors and omissions insurance, subscriptions and
membership dues, continuing education
What You Do
Th is is a service that virtually everyone needs. Th e challenge is to show potential
clients how you can improve their lives by helping them manage their financial
affairs better. Th e two major approaches chosen by solo accountants are (1) to work
with individuals on tax issues and personal financial planning and (2) to serve the
burgeoning small business market with bookkeeping setup, payroll, tax planning,
and all the other financial activities that an enterprise requires. You will need to be
creative in distinguishing yourself from this rather crowded field. How are your
accounting services better than those of the other accountants in town? How can
you show an individual that you can serve him better than the big storefront operations
that prepare taxes for low fees during the winter and early spring?
What You Need
Will you meet clients in your office, or will you travel to their homes or businesses?
These decisions will control your start-up costs (which could be as little as $3,000).
2 The 200 Best Home Businesses
Keys to Success
Being an excellent accountant and being able to create a profitable business are
two different things. Th e people skills required have probably been completely
neglected in your education and possibly in your experience if you have worked
for a large firm. Gaining the confidence of potential clients is far more than simply
having excellent accounting skills up your sleeve, which is why an informative
company Web site might be advantageous for business-building, especially in the
beginning. You’ll need to find a way to present your services in a way that appeals
to people who want your help but don’t really understand how you can best help
them find ways to save money. On the downside, your services will be particularly
needed during peak tax preparation seasons; you’ll be busiest in December and
March/April.
EXPERT ADVICE
What sets your business apart from others like it?
Personalized service and affordable rates are what set apart Kelly M. Zimmerman’s
accounting business in Cuyahoga Falls, Ohio. “I take a genuine interest
in my clients’ businesses. I really care about whether or not they succeed.”
Things you couldn’t do without
Zimmerman says she couldn’t do without a computer, telephone, and
calculator.
Marketing tips
“Get involved in an organization that you believe in personally and where
you can also promote your business. Marketing for accountants is basically
word-of-mouth, so be sure to do everything you can to keep your current clients
happy. They’ll send you more clients if they know you’ve gone out of your way for
them.”
If you had to do it all over again . . .
“I would try to be more organized and focused on the types of clients I
really want to serve.”
Subscribe to:
Posts (Atom)