Thinking about opening a home shopping business? We tell you what you need to know to get started.
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Business Plans for a Home Shopping Business
A common mistake for a new business owner is to not create a business plan.
A good business plan defines the game plan. If you don't have a business plan, your leadership will be handicapped, choosing short-term opportunities at the expense of long-term benefits.
Start by defining your business mission. The process of writing a mission statement doesn't have to be complicated. From there, it's time to initiate the hard work involved with writing the rest of your home shopping company's business plan.
Check Out Competitors
Prior to opening a home shopping business in your area, it's a good idea to determine what the competition looks like. Use the link below to generate a list of competitors nearby. Complete the form by entering your city, state and zip code to get a list of home shopping businesses that are close by.
If there's too much competition, it may be wise to consider starting the business in a less competitive marketplace.
Finding a Non-Competitive Business Mentor
If you are seriously contemplating launching a home shopping business, it's a wise move to talk to somebody who is already in the business. It's very unlikely that the local competition will talk to you. Why would they want to educate a future competitor?
But, a person who owns a home shopping business in another town may be willing to share their entrepreneurial wisdom with you, provided that you won't be directly competing with them. In that case, the business owner may be more than happy to discuss the industry with you. In my experience, you may have to call ten business owners in order to find one who is willing to share his wisdom with you.
How do you go about finding a home shopping business manager in another city who you can speak with?
We can help. Follow the link below, try a few city/state combos or zipcodes, and then start calling!
Benefits of Buying a Home Shopping Business
As a would-be home shopping business owner, the impulse to build a company from scratch is in your blood. But the harsh reality is that startup home shopping businesses experience a high failure rate compared to entrepreneurs who buy existing home shopping businesses.
There are a lot of factors that need to be considered in buying vs. starting a business. Although startup owners may have greater control over the shape and scope of their companies, they lack the advantage of a proven business model. Along the same lines, it can take years for a startup company to achieve brand recognition while an existing business may already be a trusted name in your target market.
Consider Buying a Franchise
As an entrepreneur, your chances becoming a successful entrepreneur are higher when you join the ranks of franchisees instead of doing it all on your own.
Before starting a home shopping business, a smart move is to assess whether buying a franchise could be the right move for you.
The link below gives you access to our franchise directory so you can see if there's a franchise opportunity for you. You might even find something that points you in a completely different direction.
These additional resources regarding starting a business may be of interest to you.
If you came here to learn about selling to home shopping businesses, you're in the wrong place. These resources are more appropriate for you:
If you are still exploring all of your options, please browse our directory of guides below.