How to set up and market your small home business economically and efficiently

Transpack has been assisting and advising home businesses and small businesses for year with their start up packaging necessities. Starting a business at home opens up a whole host of opportunities. Allowing you to enjoy a better work life balance and more flexibility, as well as working on something you’re truly passionate about, it’s not surprising that more people than ever before are starting small home businesses.

Why? Covid 19 has changed the way we all work and resulted in many people working remotely. This has inspired many to follow their dreams and set up a home-based business. Of course, advances in technology have also made this possible, with many business owners able to stay connected, manage employees and engage with their target market from home based environments.

If you’re planning on setting up a small business, you’ve landed in the right place. We’ve created a helpful guide for everything you need to know about setting up and marketing your small home business, economically and efficiently.

What is a small home business?

Small home businesses come in all different shapes and sizes – from managing an ecommerce business from home, through to setting up a service agency offering marketing, HR, or consultancy.

A home-based business is any company that is run and managed from your home.

Regulations around home businesses

It’s important to remember that, when setting up a small business, you will have to abide by certain legal requirements and tax responsibilities, especially if you are handling deliveries or inviting customers directly into your home.

For example, you may need to obtain permission from your landlord, mortgage provider and your local council. Your council tax bill could also be affected, and you might need planning permission to adapt your property, as well as any necessary health and safety certificates. Make sure you comply with all relevant regulations from the start.

Setting up and marketing your small home businesses economically and efficiently

When it comes to setting up and running your small home business, there are a number of steps you can take to ensure it runs economically and efficiently.

Do your research

All businesses start with a great idea. Start by thinking about what you want to make or sell and explore whether it is a viable business idea or not. Research the sector you want to tap into, check out any competitors, and identify whether there is a gap in the market for your business idea.

Creating your home business plan

Once you have your idea, you need to develop it into a business plan, which sets out your aims, goals, and financial objectives.

The process of putting together your small business plan will help you to finely tune who you are going to target, how you will connect with your target customers, and how your business will function from a financial perspective.

If you’re looking for funding support, many lenders will also ask for a thorough business plan in order to establish whether or not your idea is a good investment opportunity.

Getting your home business ready

Getting your home business ready will depend on the type of business you are setting up. For some businesses, it will mean converting a spare room into an office or storage space, for others it might mean preparing their home for customers to visit the property.

Remember, if you are running a business from home, you will need to let your mortgage provider know that your home is going to accommodate a business. You should also let your home contents insurance know your new circumstances. And, depending on your set up, you will also need to look into public liability insurance, product liability insurance, professional indemnity insurance and employer’s liability insurance.

Registering your home business

Regardless of its size, every single business operating within the UK must be registered with HMRC. If you are setting your home business up as a Limited Company, you must also inform Companies House of your plans.

How to market your home business

Starting a home business is incredibly exciting. From the offset, it’s important that you utilise the best channels to optimise sales, generate awareness, and drive traffic to your website.

Here are some of the ways you can market your home business successfully…

Social Media

The power of social media should not be ignored. Allowing you to connect and engage with your target market 24 hours a day, 7 days a week, 365 days a year, social media is one of the best ways to promote your products and services from a home setting.

Invest in a website

At the same time, you should also invest in a website to promote your products and services. The vast majority of home businesses have a website. The type of site you need will depend on the nature of your business. If, for example, you’ll be selling products online, you’ll need an ecommerce site that is able to accept orders and payments.

Build a blog

A blog is an important platform for spreading the word about your products and services. It lives on your website, and you can use your blog to share thoughts, news, ideas and anything else that you think your target market will be interested in.

Sharing regular content this way can also help your site appear higher up in search engine results, meaning more potential customers will be able to find you.

Choosing the right packaging for your products

If you are planning on selling your own products through your new business, you will need to invest in suitable packaging.

This is important to ensure that your products look great when they arrive, but also to keep them safe in transit. There are a huge range of packaging options available, including postal boxes, food grade bags,  acid free tissue papers, coloured kraft paper, bubble wrap, bags and shredded paper.

Take time to think about what you need from your packaging and research the best options. You may need to order samples to help you decide – contact Transpack for product advice and sampling.

What are the pros of a home-based business?

There are lots of pros that come hand in hand with running a home-based business including:

  • You don’t need to worry about a dreadful commute
  • More opportunities to do what you love
  • More flexibility
  • You don’t have to pay additional rent
  • Enjoy a number of tax benefits
  • Low start-up costs
  • Better work-life balance
  • Increased productivity.

What are the cons of a home-based business?

As with any type of business, there are also challenges to consider. Here are the cons of a home-based business to keep in mind:

  • You might find it hard to keep your work and home-life separate
  • More domestic distractions and interruptions
  • You might find a lack of contact with other people and businesses difficult
  • You might end up working long, un-socialable hours
  • Running a business from home can put a strain on family life
  • Your business could outgrow your home.

13 home-based business ideas you can start today

There are thousands of successful business owners already running their businesses from home. If you decide that this is the right option for you, there are many different business ideas to explore, such as:

  • Sell homemade products such as candles, knitwear, cookies etc.
  • Launch your own drop shipping store
  • Source and sell vintage clothing
  • Personalised designs and illustrations
  • Offer online services such as copywriting, website design
  • Photographer or videographer
  • Become a virtual assistant
  • Personal trainer
  • Teach online classes
  • Provide a cake making service
  • Caterer
  • Cleaner
  • Massage or beauty therapist

And remember, you can always buy an existing ecommerce business.

Why choose Transpack for your small business?

Here at Transpack, we provide a huge selection of packing materials, including compostable bags. From boxes, bags, protective materials and more, we offer a wide range of packaging solutions that will ensure that you are always able to find the right packaging for your home based business needs.

If you would like any information about our packaging products or bulk purchasing options for your business, get in touch today!