With the ‘work-from-home’ mantra taking the world by storm in the past year or so, many people are finding that business conducted from homes works well. As people are compelled to stay at home, and may have faced lay-offs, they have been coaxed to start small businesses from their residences. To everyone’s surprise, many small businesses have taken flight, seeing success too. Moreover, with Finserv MARKETS offering you chances to avail an MSME loan, if you have a business idea, it’s a good way to start.
Why Consider a Home-based Business?
Even before the world was forced into ‘homedom’, India’s booming economy encouraged people to take a business loan to start businesses. This gave rise to many MSMEs (Ministry of Medium and Small Enterprises) and SMEs (Small and Medium-sized Enterprises). Here are some good reasons to consider a home-based business:
- Loan Procurement – Currently, it is very simple to get an MSME loan to meet requirements of your business’ working capital needs.
- Relief Packages – Business loans can be taken to offer relief to stressed businesses as you start your home-based business. This way, you can tide over initial hiccups.
Features and Advantages of a Home Business
Even if you ran a business out of your home previously, here are features of home-bound businesses and these make up advantages you get too:
- Lower Overheads – You spend much less on overheads, like infrastructure, warehousing costs and tax, etc. You also have an initial lower investment that can be met with a business loan to get you going.
- Sell Anywhere – If your business entails selling a product, you can sell locally or internationally, conducting business online.
- Work-Life Balance – You automatically get flexibility in work-life balance and this is a pro if you are a stay-at-home parent.
Home Business Ideas
Once you know you want to start a business from home, but don’t know where to begin, don’t stress. With an MSME loan from Finserv MARKETS, you can think of some of the following ideas to get you up and running:
- Homemade Products – With everyone clamoring to switch to a healthy way of living, you can sell healthy homemade food, for instance, from your home. If you grow any herbs/spices in your own garden you may bottle and sell them. Your home could double up as a local showroom for homemade products. You can turn any hobby into a fruitful business. You can sell products on ecommerce portals as well.
- Buy in Bulk – If you do some research, you may find a niche market for products and sell them from your home once you buy/import them in bulk.
- Market your Expertise – If you have a service or expertise to sell, that could be your business. Service/expertise-based businesses include:
- Home Tutoring
- Cleaning Services
- Consulting and Marketing Services
- Personal Training Services (yoga or fitness)
- Companionship Care
- Buy an Existing Business – This will require you to take anywhere from a small business loan to a large one. Depending on the business you want to invest in, your loan will vary. If it’s an established business, it may cost more.
Grow with Finserv MARKETS
The business ideas you may get may be endless, but an idea is just that till you execute it by taking the plunge to start your business. At Finserv MARKETS, you get the encouragement to take a loan and kick off.