Thanks to the continued increase in internet-based consumerism, there are more people setting up businesses from the comfort of their living rooms than ever before. From stay-at-home parents to students and eager young entrepreneurs, people of all ages and backgrounds are jumping on the do-it-yourself business bandwagon. But is there any real money to be made from it or is this type of venture better suited to those who simply want to make a bit of extra pocket money?
A large proportion of home businesses offer services such as graphic design, freelance writing, blogging, web development or some form of homemade product. All of which are highly sought after today but with so much competition out there, it can only be lucrative for a lucky few.
Take blogging, for example. Although considered a low to medium risk profession with the opportunity for multiple revenue streams at once, the majority of bloggers fail to make any real money. This is perhaps due to the vast amount of blogs and bloggers around these days. So unless you dedicate every waking hour to blogging, the chances are you’re not going to hit the big time.
So, what exactly are the UK’s thousands of new start-ups doing to bring home the more serious bacon? According to an article published by startups.co.uk, those who really want to start seeing the big bucks are now looking to ventures such as online motor trading.
What’s so special about motor trading, you ask? Well, for starters, it doesn’t require a large capital outlay to get the business off the ground. There’s also no requirement for extensive mechanical knowledge (although obviously, some would be an advantage) and it can be done on a part-time or full-time basis, from anywhere with an internet connection.
The key is to purchase a car cheaply and sell it almost immediately for a marked-up price. Depending on the car, it could fetch anything from £400, which, for one sale, isn’t to be sniffed at.
As well as becoming a regular at the local auction house, there are good deals to be found on well-established online motor marketplaces such as AutoTrader. But auction websites like Gumtree, eBay, Copart UK, Carwow and Carspring have now taken over as the first port of call for those seeking out a bargain.
The beauty of selling as a car trader from your sofa is it really doesn’t require much more than a few high quality images, clear listings on a reputable website and your contact details. Once a prospective buyer has shown interest, you can discuss that all important test drive and get things moving forward.
The average part-time motor trader takes in around half of the national average wage according to Insurance 4 MotorTrade.
So, it appears there is big money to be made from setting up at home. The trick is knowing what sells, what doesn’t and how much competition there is out there. Do your homework before you decide to dive head first into home business and success could be just around the corner.