Ten Part-Time Business Ideas (from BusinessWeek Magazine)

Ten Part-Time Business Ideas (from BusinessWeek Magazine)

By Jeremy Quittner and John Tozzi

Businesses You Can Start on Your Own

In any economy, a part-time business can bring in extra income, give you a fallback plan if you lose your job, or plant the seed for a larger venture. In a downturn, it's hard to argue with preparing a backup plan. Of course, starting a business is always risky, and you will almost surely spend more than you make at first. Previously, we offered advice for recently laid-off workers considering going into business for themselves. Now we're offering snapshots of 20 part-time solo business ventures that could turn into full-fledged businesses, including tips on getting started and links to in-depth articles.

Baker

Man does not live by bread alone, or so the saying goes. But if anyone checked the sales of some of the best independent bakeries around the country, they'd be astounded. In 1994, Jim Lahey started Sullivan Street Bakery after several years experimenting as a home baker. Today, his company, which has about $6 million in annual revenues and about 90 employees, is a New York City bread-baking institution. Lahey has a word of warning, though: "Knowledge of cooking is much greater than 20 years ago," he says. "The market is more competitive and if you want to develop a cottage industry, the product better exceed expectations."

And if you want to jump on one of the hottest trends nationally—cupcakes—you might even find yourself selling upwards of 2,000 a day, an amount that New York's famed Magnolia Bakery easily exceeds. At $2 a pop, you can do the math, even for your home-based business.

First steps: Break out your market. Are you going to make muffins and cupcakes or bagels and baguettes? As with most food businesses, you'll need a state license in order to sell to the public. If that seems daunting, you can start by selling to friends and relatives or at local bake sales.

You also need to decide how much space you'll need. If you outgrow your home kitchen, consider renting space in a professional kitchen.

Time needed: Baking is a time-consuming business, so expect to devote 10 to 20 hours a week on it for part-time work.

Blogger

It's true that few bloggers make enough to earn a living—most make nothing at all. But if you can write well about a topic you're passionate about, you may develop a following, and with enough page views you can start bringing in revenue from ads. Pick a narrow topic that you're intimately familiar with and that has a well-defined audience. For example, a site that covers the world of digital SLR cameras in minute detail has a more natural audience than a broad technology blog; likewise, a general restaurant review site may elicit yawns, while a blog chronicling the seafood shacks of New England could attract a cultish following.

First steps: Begin writing and start participating in online communities where people interested in your topic hang out. Start for free on a platform like Blogger or WordPress.

Time needed: Prepare to spend at least a few hours each day writing. Keep a regular schedule to make sure your blog doesn't get stale.

eBay Seller

Yard-sale mavens who already spend weekends trawling for hidden treasures can resell what they salvage online, on eBay (EBAY) or other sites. Pick a niche that interests you and that you have some expertise in and monitor what already sells online so you can set prices accurately. If you know your vinyl, buy old record collections in bulk and resell the gems individually online. From books to electronics, you may be able to find resalable items out on the street on trash night or given away for pennies at moving sales.

First steps: Set up a shop on eBay or other e-commerce sites and begin to build your seller rating. It's free to list items on many e-commerce sites, though eventually you may want to invest in your own Web site, advertising, or premium services.

Time needed: Expect to spend several hours a week finding inventory and listing it for sale.

Fashion Designer

Scarlett O'Hara saw possibilities in postbellum drapery. And contemporary popular culture abounds with examples of runaway sartorial sensations: Think Christian Siriano of Project Runway fame. Maybe you can find your true muse in the clothing world, too, and make a big splash with your talent and ingenuity.

First steps: Gather tools of the trade including sewing machine, needles, thread, cloth, and patterns. You'll also need a well-lighted place for working. Prototypes can cost as little as $20 but balloon to hundreds or thousands of dollars, depending on the market you design for. Similarly, secondhand shops sell starter sewing machines for $50 or less. Higher-end machines cost up to $2,000.

Time needed: Nights and weekends. This can be time-consuming work.

Hair Stylist or Manicurist

Building a good reputation and trust with clients is crucial in this business, so first work on people you know for free or a discounted rate. Once you're confident in your ability, look for new business through referrals from your early clients.

First steps: Set up a space in your home, offer to see clients in theirs, or see about renting a chair at a local salon.

Time needed: Prepare to work around clients' schedules, seeing them on weekends or after work.

Photographer

The barriers to starting a photography business virtually disappeared with the dawn of affordable digital SLR cameras and software like Photoshop. If you're skilled in taking great pictures, pick a niche and build a business around it. You might want to shoot weddings, bar mitzvahs, or corporate events. Or consider family or individual portraits. You could even set up a small studio space in your home. Consider what services you'll offer clients beyond just taking pictures—can you build a Web page to showcase the photos of their event as well?

First steps: Put together a portfolio of your existing work to show potential clients.

Time needed: For event photography, expect most gigs to be on weekends or evenings (galas, for example). You may be able to arrange portrait appointments on a more flexible schedule.

T-Shirt Vendor

Launching a T-shirt business is about as American as apple pie and your first paper route. Take the Life is Good guys, Bert and John Jacobs, who started out in 1989, selling their shirts door to door, at street fairs, and from the back of their van. Today, the company has about $100 million in annual revenues. T-shirt design is a hotly competitive market, however, and it should go without saying that the barriers to entry are low.

First steps: Create a catalog of design ideas, or simply one good one, like the Jacobs brothers, whose smiling stick figure captured the national mood. You need to decide if you will invest in the manufacturing materials or use a third-party designer, frequently known in the trade as a publisher: Lots of these exist, from CafePress to T-Shirt Monster. Using a publisher is cheaper, but you have less control and you'll be handing over most of your profits. On the other hand, investing in your own equipment, including a heat transfer press, can be expensive: $500 to $1,000. Again, this is an intensely crowded and competitive industry.

Time needed: Nights and weekends.

Tutor

Your subject matter is as limitless as the human mind: acting, algebra, tennis, anyone?

First steps: Get in touch with your local school district and offer your services. Good knowledge of one particular subject or activity is more marketable than spotty knowledge of many. States don't have licensing requirements, so you don't necessarily need a degree or other credential, though you'll likely make more money if you do have one.

Time needed: Evenings, mornings, or your lunch break.

Web Designer

If you're adept at coding and have an eye for sharp design, you make be able to make a business making Web sites—especially if it's something you already do professionally. Begin by building sites for friends and contacts to accumulate a portfolio. Focus on a niche, like designing pages for bands or restaurants, where you can develop a name for yourself in the community and get referrals from your early clients. Decide whether you want to build a one-time site for clients or take on the responsibility of updating and maintaining it, and bill appropriately.

First steps: Set up your own Web site with a portfolio of your work.

Time needed: You can make your own hours as long as you meet client deadlines—which may mean pulling some all-nighters.

Toymaker

If you already make toys for your own children, consider selling similar items for others. Handmade toys, clothes, and other kids' products have found a burgeoning market on the Internet. You can also sell at local craft and toy fairs, but Web sites like Etsy let toymakers connect with many more customers looking to buy unique handmade toys. Of course, safety is a concern, and some small toymakers say new product regulations will be unfairly burdensome. But the Internet's reach has let many small toymakers turn what was once a hobby into viable part-time businesses.

First steps: Set up an online store to feature your children's products.

Time needed: Your commitment will depend on demand. You might just need a few hours a week, but if your toys take off, you might have to work through the night to fill orders.

Original post (with 20 ideas) - http://images.businessweek.com/ss/09/05/0522_part_time_business_ideas/index.htm

-All GREAT ideas!!! Do you have any other ideas?