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10 Ways to Grow Your Home Based Business

1. Focus on a single product or service, and then market and sell.
2. Offer complementary products or services.
3. Resell or Cross Sell your client list.
4. Free your time by hiring extra help. Freelancer, Student or intern.
5. Create a Web site to advertise your company or sell products online.
6. Align yourself with another business to cross-promote your companyies.
7. Target other markets. If you sell to teens, start marketing to college students.
8. New ways to market your business, e-mail or guest-speaking
9. Expand to another location. That could mean renting "virtual" office space in a business center or by sharing office space with another growing business.
10. Think about turning your business into a franchise or business opportunity.

Types of Business Opportunities

Distributorship - An independent agent that has entered into an agreement to offer and sell the product of another but is not entitled to use the manufacturer's trade name as part of its trade name.

Rack Jobber - Selling of another company's products through a distribution system of racks in a variety of stores that are serviced by the rack jobber. Typically, the agent or buyer enters into an agreement with the parent company to market their goods to various stores by means of strategically located store racks.

Vending Machine - Businessperson must buy the machines as well as the merchandise being vended. The vending machine operator must pay the location owner a percentage based on sales. The big secret to any route deal is to get locations in high-foot-traffic areas, and of course, as close to one another as possible.

Business Opportunity Categories

Dealers - Similar to a distributor but while a distributor may sell to a number of dealers, a dealer will usually sell only to a retailer or the consumer.

Trademark / product licenses - The licensee obtains the right to use the seller's trade name as well as specific methods, equipment, technology or products. Use of the trade name is purely optional.

Network Marketing - Direct sales and multilevel marketing. As a network marketing agent, you would sell products through your own network of friends, neighbors, co-workers and so on.

Cooperatives - Similar to a licensee arrangement in which an existing business, such as a hotel or hardware store, can affiliate with a larger network of similar businesses, often for the sole purpose of advertising and promoting through a common identity.

Franchise versus Business Opportunity versus Turnkey Business

Franchise gets support and uses trademark name from the parent company.

Business opportunities has no support from the parent company, generally is not offered the use of trademarked name, and are independent of the parent company's operational guidelines.

Turnkey operations are packaged formats. These business opportunities provide everything you could possibly need to start a business. They help you select a location, they provide training, they offer support for the licensee's marketing efforts, and they supply a complete start-up inventory.

Starting a Franchise Business