What is a good business for a stay at home dad to buy?

In order to hit the ground running, buying a business can be a great way to start. Here we give you a few options so that you can understand which one is right for you. It is always going to be difficult running a business and taking care of children, but, if you choose the right business, you can make it that bit easier.

Sell things online

Often times, the key to successfully selling online is combining filling a gap in the market with good marketing. Is there something that you have found it difficult to get your hands on? Linking producers and customers could be the ideal job for you.

You will need to decide whether you want to sell through a third party like eBay or have your own website. Will you store stock yourself or use dropshipping? Depending on the vision you have, you will be able to narrow your search for the right business.

When looking for a business to buy, remember to look at the quality and diversity of the customers that the business has, whether the sales have grown over the years and whether you can identify ways that you will be able to increase sales.

Offer tutoring services

Online tutoring has become very popular as kids can access great tutoring resources without their parents having to drive them around. If you are already a whizz at helping your children with their homework, why not monetise this skill.

There are plenty of online sites you can join in order to offer your skills. However, if you are hoping to build a business around this, there are plenty of franchise options. You could become a franchisee, receive training and support and be your own boss.

Buying an independent business is also an option but you will need to be sure that you will be able to keep getting new clients even after the existing ones have graduated. It’s things like this that a franchisor will be able to help you with.

Become a virtual assistant

There are a lot of people who need clerical assistance with their business. Offering these services online can be a great source of income.

You will need to assess exactly what it is that you will be able to offer help with. There are a lot of potential areas that you can offer your services in. It will all depend on where your strengths lie. Helping someone with their website, editing and proofreading, bookkeeping and data entry are just a few of the services that you can offer.

You will then have to match your skills with the businesses that are available to buy. There are many of these services that are also available as franchises.

Social media manager

If you have experience with marketing, managing someone else’s social media is a great business you can run from home. Social media has become an important part of every business’s marketing and daily running, but it is time-consuming and often needs a dedicated person to take full advantage of it.

You could offer your services in this area to as many businesses as you can handle and earn a great income from it if you can do it well. This area can be competitive so make sure you study up and gain the knowledge you need to be effective.

When finding the right business to buy, look at the range of clients that the business has. You don’t want to lose all your business if you lose one of your clients!

The online business that you choose will depend heavily on your area of expertise and your passions. You need to be sure that the service you offer will be of value. If you feel you need training in a particular area, becoming a franchisee will allow you to receive training and support from the franchisor.

By Jo Thornley, Head of Brand and Partnerships at Dynamis. Joining in 2005 to co-ordinate PR and communications and produce editorial across all business brands. She earned her spurs managing the communications strategy and now creates and develops partnerships between BusinessesForSale.com, FranchiseSales.com and PropertySales.com and likeminded companies.

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