Providing a valuable service to the people around you is important. With a home watch business, you will be doing something more than providing those away from home with peace of mind that someone is watching out for them. You are also becoming an entrepreneur. In other words, you are creating your own job as well as your own business. With such a big step, provided you have never owned or operated a business before, comes several new responsibilities. Being your own boss has many advantages to it and quite simply, you will be changing your life forever once your home watch business is launched and in full operation.
But how exactly can you start your own business for under $2,000? You could spend a bundle getting set up and there is no doubt that there are many different business opportunities out there that are quite costly to get into. That’s fine if you can afford it.
But what if you are already living on a limited income and your goal is to create something that will generate an extra income stream? You know, something part-time that won’t be too hard to keep up with and is something you would find enjoyable as well? That is why I am suggesting you take a closer look at the home watch business opportunity. It is not a hard business to launch and is the perfect kind of home-based business for a semi-retired or retired person. It also makes a great part-time opportunity for anyone who wants to make a few extra bucks.
Here’s how you get started for under $2,000.
1 – Low Start-Up Costs
Probably the first place you will save a great deal of money related to the launch of your home watch business is with start-up costs. For example, there is no real formal training required, just a bit of common sense and hands-on learning. Essentially, you need a reliable vehicle, some office supplies for invoicing, and business cards. Compared to some other business startups where certification is required, as well as office space in a commercial building, you will be spending far less at the start-up phase to get your business operational.
2 – The Fees For Service
This is another comparison that will assist you in saving some money in the long run while making your home watch business more attractive to your prospective clients. In big cities, the hourly rate for the type of service you will be providing could top $80 per hour. Depending on the size and economy in your chosen market, your rate is very likely going to be somewhat less than that. Let’s just say that in order for you to make a decent profit you have to charge $50 per hour. That lower rate is attractive to your customers and it also reflects that your overall costs are such that you don’t have to charge big city rates to be able to operate. Plus, with a lower rate compared to bigger cities, you will see additional business as a result which will increase your income stream.
3 – The Skills You Will Need
As I’ve already stated, you won’t need any formal training for your home watch business, there will be a few skills that you will naturally have already. They will include common sense, the desire to provide a service that assists your customers in some way, personal communication skills to help communicate with clients, the ability to schedule and plan your daily/weekly schedule and related tasks. None of these skills will cost you anything as you’ve already learned them. If you do not have computer experience, this can be remedied with simple online or classroom courses that cost a nominal fee. There are great computer software programs you can use for this part of your startup which will cost you far less than hiring a bookkeeper to do it for you. I’ll show you the best in my guide.
4 – The Marketing Of Your Services
This is where you are going to incur a few costs, but there are also ways to market your business that won’t cost you a bundle. It really depends on your budget and the advertising sources you have available to you. For example, free classified ads online, (Craigslist for example)will cost you nothing. Setting up social media pages will also cost you nothing. Posters, brochures and business cards will have small costs attached to them, but posting them in high traffic locations and handing them out will cost you nothing. Getting signage on your vehicle, such as detachable magnetic signs, will cost you a little but wherever you go with that vehicle it becomes a rolling billboard advertising your home watch business for free. If you have a budget set aside for marketing, you can get a professionally designed website, paid advertising in the newspaper, on the radio, billboards, signs and whatever format you can afford. However, if you stick to the low-cost options, you won’t spend anywhere near $2,000 to start your business.
5 – Additional Income Streams
Let’s say you have set your hourly home watch business rate at $50 per hour. Your part-time service would be operational for 20 hours per week and that alone will generate $1,000 per week. But what if you added additional services that may be nice add-ons to your existing business? The add-ons won’t cost you much to include and could result in another stream of income on top of that $1,000 per week. Ideas as to what those add-ons could be may include pick up of mail for your clients who are away on holiday and homes you are already watching. Maybe taking care of their light yard work to keep properties looking good for those clients of yours who are away on extended holidays. Or you may even come up with an idea or two of your own that may be a perfect fit for your service. You’ll find a list of the best add-on services in my guide. Regardless of the direction, you go with your add-ons, they will bring you an excellent return on investment.
I hope I have inspired you by showing that it really isn’t that hard to get into business for yourself. Plus, something as simple to launch as a home watch business will give you something profitable and important to do. If you are retired or just want something to do that keeps you busy, this type of service will always be in demand. People still go off to a sunny spot for the winter, and can’t always rely on friends, neighbors or family members to keep a regular watch on things while they are away.
A home watch business gives these people peace of mind and can earn you a solid part-time or full-time income doing something that will be appreciated by your customers. What makes this type of business even more attractive to launch is that it really does not cost very much and can turn a nice profit in a very short period of time. There are not a lot of startups these days that I can say that about but I am confident that the home watch business is one of them.
Our new guidebook, How to Start a Profitable Home Watch Business, covers everything you’ll need to get started and start making money in no time.