9 Practical and Profitable Business Ideas for Mums – Updated 08 August 2018
Becoming a new mum can be tough!
You build up a career and when it seems to be going well, you're faced with the challenge of taking time out to have children.
I had a whole new level of respect for my wife when she started this journey back in 2012.
First, there is the negotiation with an employer about a decent maternity package.
Then the pressure to replace the shortfall in income and the possible guilt from not properly contributing to the family purse.
Add the lost career time, opportunity and income, as well as the future potential of that lost income.
Whilst trying to fulfill the role of mum, there is then that nagging feeling about when to go back to work or whether to bother at all.
I have seen the above play out in our family situation.
It's tough and can cause a loss of confidence in some mums or even marital problems as bills pile up.
In our case, there was the added pressure that I faced quietly as the main breadwinner, whilst Mary was away on maternity.
Of course, not everyone faces these challenges and choices.
However, for everyone else, I believe in the power of new mums (and partners) or single parents harnessing these struggles and creating opportunities that give them options.
There is usually the big hold back from jumping and starting a new venture whilst also being there fully for a child.
Therefore, the types of ventures one might want to explore are ones that offer maximum flexibility and income upside.
Having brainstormed some ideas with Mary, below are 9 practical and profitable business ideas for mums to explore.
This list is by no means exhaustive, so feel free to comment and make further suggestions:
1. Create and Sell Information Products
There is something very empowering about selling something you ideated and created.
Digital information products (e.g. ebooks, courses, printables etc) give you the opportunity of owning an intangible asset with potential lifetime value.
First, you have to create something that solves a problem and adds value to others. However, once that bit of investment is done, the upside can be significant.
Such products usually have high margins and can be promoted very cheaply or for free on social media.
There is also the added benefit from significant automation of the process from marketing to sales, therefore making this an idea you can explore from home or anywhere.
Finally, other people can sell your information products as affiliates, and this creates a compounding income machine!
There is traffic everywhere, and a blog is one way you can control and own traffic.
Blogs offer a significant opportunity for income generation if you can write about a hobby, passion or area of expertise.
It is also fun and is an asset that is completely yours. In addition, you could gradually build your personal brand and influence, and with no borders whatsoever.
Not all blogs are there to make money, and not all of them make money. However, there are many that make a ton of money on a recurring and diversified basis.
Could you imagine earning £10k or £50k or £150k a month from home? There are many blogs raking this in quietly each month, and these bloggers have made it their full-time gigs and living a desirable lifestyle.
You do need to be committed though and put in about 3 to 4 hours daily, producing engaging content consistently over time and marketing your blog.
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3. Start a Franchise Business
This is a fantastic idea that anyone could execute with some passion and commitment.
Franchises could be bought in sport, food, children's activities, tutoring etc.
The alternative is to start your own business and use franchising as a business model for growth.
Examples include Heartbeeps, Littlekickers, Kumon etc.
This option would be great for a mum with a long-term view and the possibility of not going back to a day job as these can take a while to become a success.
4. Provide Coaching
Coaching is popular for a reason, and that's because alot of people need direction and support on what paths to follow in life.
[redbar]Effective coaching involves more listening than talking and is subtly different from mentoring, which involves more handholding.[/redbar]
You can train to be a life coach or a business/exec coach, and use the same competencies to solve your client's problems.
Coaching can be offered one to one (in person or online) or in small groups.
Income from coaching can also be one-off or recurring depending on the needs of your clients.
Related: Private One to One Coaching by Me
5. Create and Sell Crafts
Unique handmade crafts can command a premium on Etsy. If you enjoy making things, then this is certainly worth exploring.
Alternatively, you can buy already created items in bulk at a discount and sell them at a premium.
These can be sold online or in craft markets.
6. Do Freelancing
Use your existing skills as a freelancer from the comfort of your home.
Websites such as Upwork have made it very easy for you to be able to pitch your skills and you decide your fee.
You get charged a freelancing fee as a percentage of your earnings on a sliding scale.
Click here to learn more about how it works.
7. Become a Virtual Assistant
You can either virtual assist and/or create a company hiring out virtual assistant services.
Everything from managing social media accounts to answering calls can be done by a virtual assistant.
Having good organisational skills certainly helps in being a successful VA.
This will not be a high earner on day 1 but lots of content can be created around children and their activities.
Over time and provided your content is engaging, this will start to add up and could also be life transforming.
Content could be monetised through advertising served on videos or through views from YouTube Red subscribers.
My good friend, Ros, actually started her own YouTube channel called Bo the Bear aimed at Pre-schoolers.
Ros and I trained as Chartered Accountants together but after having two sons, she is exploring a new side hustle.
Check out the YouTube partner Programme for more info.
YouTube could also have a secondary function for driving traffic to another business that you run.
Remember that YouTube is owned by Google and is the second largest search engine in the world.
Content on this platform has phenomenal potential as there are millions who use only YouTube and not Social Media at all.
9. Create a Podcast
Millions listen to podcasts from around the world and there is an ever-increasing variety and ways to plug in.
You don't have to be considered creative to do this because it's all about telling stories and sharing ideas.
Platforms such as Audioboom help you host, distribute and monetise your podcast.
Apps such as Anchor.fm help you create audio and you can now start your own podcast from your smartphone for Free!
You make money from sponsorships and other sources such as affiliate marketing, selling your own products, books, crowdfunding etc.
Are you considering starting a business? What other side hustle ideas can you suggest to new mums? Please comment below 🙂
Do please share this post if you found it useful, and remember, in all things be thankful and Seek Joy.