With the current economic forecast, you might be wondering if it’s possible to start a successful business from home right now. The answer is yes! Here, we’ll run through exactly how you can do it, along with three businesses which are sure to turn a profit.
Bookkeeping
Thorough and accurate bookkeeping is essential for any business that wants to be on top of its finances, and bookkeepers are always in high demand. Put simply, bookkeeping is the process of keeping track of a business’s incomings and outgoings, and balancing the books. You might think this sounds a lot like accountancy, but the two are in fact different. A bookkeeper prepares the records, and an accountant interprets the data and makes decisions about how money is stored and organised. Some people who start out as bookkeepers decide to become accountants, once they realise they have a knack for figures. Although gauging salary is difficult, most self-employed bookkeepers in the UK charge between £15-£25 per hour. This means that if you have enough clients, you can earn between £20,000 and £25,000 per year.
If this sounds interesting to you, you’ll be happy to learn that getting into the profession is easy. If you’d like to get to know the basics, then our free Introduction to Bookkeeping short course is where you should start. If you’ve done your research and you’d like an accredited qualification, then our ICB Level 2 Certificate in Bookkeeping will teach you all the fundamentals, as well as allow you to gain ICB certification. From here, you can increase your skills and experience, along with how much you’re able to charge clients, by studying ICB Level 3 Bookkeeping and Accounts.
Beauty Therapy
If you're considering starting a business from home, there are so many reasons why beauty therapy is a great choice. You get to make people look and feel better, be creative, and enjoy having a good chat to clients. Beauty therapy can also be highly profitable, especially when you’re working for yourself. You needn’t worry about the recession, either, as the beauty industry has historically proven to be economically resilient. Some beauty therapists offer a wide range of treatments, however, this approach is more suited to a therapist working out of a salon, as you’d need to have access to a lot of products and equipment. Most therapists working from home, or travelling to clients’ houses, decide to specialise. Some do nails, some do spray tans, some do eyebrows, some do massage – the possibilities are almost endless!
How much you earn will depend on how many clients you see, and what area you live in. If you live in London, for instance, you will charge substantially more than a therapist who lives in Staffordshire. As an average, if you’re working as a self-employed nail technician, you might be charging between £15-£25, depending on the service you’re providing. If each client takes one hour and you decide to see four clients per day, you could earn around £19,000.
Dog Grooming
If there’s one thing we can be absolutely certain of, it’s that recession or not, people are always going to want their dogs to be clean and well cared for. In fact, the research shows that pet owners spend just as much on essentials for their animal, even when times are tough. You’ve likely heard that dog grooming can be a challenging career and, to a certain extent, that’s true. Some animals are difficult to lift, tricky to bathe, and prone to uncooperative behaviour. The great thing about being a self-employed dog groomer, however, it that if a dog causes you too many problems, you can simply decide not to work with that animal again. Also, there’s many enjoyable aspects of being a dog groomer. If you love dogs, you get to work with them every day, and make a positive impact on their lives and wellbeing. You get to provide a highly valued service that dog owners will delight in seeing, and you get to be creative, just like a regular hairdresser.
If all of this sounds great and you’re interested in starting a dog grooming business from home, then our Level 3 Introduction to Dog Grooming Diploma will guide you through all the theoretical and practical aspects of grooming different types of coats, with the option of gaining practical experience as you study. You’ll also learn what’s it’s actually like to be a dog groomer, and the challenges that groomers face day-to-day. Many aspiring groomers also choose to study Dog Health and Behaviour Level 2, as this allows them to gain detailed insight into dog health and behaviour, which is very useful when trying to keep dogs calm and happy. Of course, you’ll need to invest in equipment, which will set you back on average £2,000. However, a start-up loan will likely cover this cost. As far as salary goes, fees will vary depending on your skill, and your location. As a general guide, you’ll be able to charge £30-£40 for a medium dog. Grooming can take around two to three hours, so you’ll likely be seeing two animals per day. Presuming you only work weekdays, this will mean your salary is around £15,000. However, bear in mind that as you gain a good reputation, you’ll be able to charge more. Also, many groomers make money in tips on top of their regular salary, and choose to work some evenings and weekends.
Hopefully, we’ve provided a little inspiration as to how you could start your own business from home. This is by no means an exhaustive list, for instance, you might choose to become a freelance proofreader, a wedding planner, or a mortgage advisor. With a little studying and a lot of support, you’ll be amazed at what you can achieve. View all our business courses here.