This week, the Bunch Team is happy to host guest blogger, Candace Sigmon! You could say Candace Sigmon was born to DIY. She has always loved to tinker, fix, and build, and she has been working on home projects with her dad pretty much ever since she could hold a hammer. She created AtHomeHelper.com because she thought it might be fun to share some of what she has learned along the way as well as resources that she finds especially useful.

For seniors who are interested in starting their own businesses, there are plenty of opportunities. Whether it’s launching an online store or providing services like tutoring, accounting, or consulting, the internet has made it easier than ever for seniors to launch and run their own businesses from home. Here’s what seniors need to know about getting started with a home-based business, shared below by the Bunch Team Realty Group.

Understand Your Target Market

The first step in launching any business is understanding your target market. Who are you selling products or services to? What kind of customers would benefit from your offerings? By researching the demographics and psychographics of your ideal customer, you can tailor your message to reach them more effectively. You should also research the competition so that you can differentiate yourself in the marketplace.

Determine Whether You’ll Rent or Buy Space

Starting a business is no small matter, even if you’re retired and just doing this for fun and added income. You might even be considering moving with your new business in mind. If you’re deciding between renting and buying a home, it's important to know that you can run a business from your home if you desire, even if you’re a tenant. 

Not only can you run a business from an apartment or rented house, you can deduct the expenses from your taxes. The key in this case would be to ensure your local ordinances and your lease allow you to exercise your business processes. As long as you address these legal considerations, you should be able to cross this concern off your list. 

Additionally, some cities require permits or licenses if you plan on having customers visit your home for consultations or meetings. Doing the necessary research ahead of time will save you time and money down the line.

When you’re ready to start looking for the right property to purchase, contact the Bunch Team Realty Group to view and save your favorite properties!

Invest in the Right Technology

Technology is key when running a successful home-based business. From a reliable computer system to secure Wi-Fi network access, investing in quality technology upfront will ensure that your business runs efficiently without interruption. Instead of spending lots of money on a scanner, try this to scan a document. Not only is this scanning app free, it goes wherever you do so you can always scan any document at any time. 

Set your business up for digital filing by using this scanning app and by investing in cloud storage. You can set up your cloud storage to ensure all of your documents remain safe and secure while giving you access to them anytime, anywhere.

Choose a Business Structure

When setting up a home-based business, you need to determine what business structure makes the most sense for your new venture. There are several options to choose from so research your choices carefully. It might be a good idea to research which structure is favored by other businesses offering similar services to your own.

Create a Marketing Strategy

Every successful business needs a solid marketing strategy in order to effectively reach potential customers and build brand awareness. This could include leveraging social media platforms such as Facebook and Instagram by creating ads targeting specific audiences based on age range, location, interests, etc. 

Additionally, using targeted email campaigns, hosting webinars, starting blog content series, implementing search engine optimization (SEO) tactics, participating in local events, and offering discounts or incentives—these are all effective ways of reaching new customers. This is especially true when you enhance your content with business flyers, allowing this more old-fashioned approach to supplement your digital methods.

Look To Online Business Courses To Boost Skills

Lastly, consider investing some time into taking online courses related to marketing, sales strategies, customer service best practices, etc. There are plenty of free resources available online that can help seniors develop their skill set along with offering helpful tips on how they can succeed at running their own businesses. These courses provide valuable information that can be applied immediately while helping entrepreneurs stay ahead of trends within their industry.

Starting a home-based business is becoming increasingly popular among seniors looking for ways to supplement their income or simply stay engaged with something meaningful after retirement age. It’s important for seniors interested in launching their own businesses to understand what’s involved before taking the plunge so they set themselves up for success early on. 

Set Your Business Up for Success

You may be deciding between renting and buying your space. By researching legal implications and zoning laws, you can move forward with confidence. Similarly, investing in quality technology, and forming an appropriate business structure, senior entrepreneurs can gain greater control over their future successes. With careful planning and dedication, seniors can comfortably launch and run a successful home-based business!