Mumtrepreneur - most recession proof way of making money whilst on maternity or if you give up your job post baby(13 Posts)
What do people think is the most recession proof way of making money for women with a newish (say 6 month plus) baby?
(1) Childminding or cleaning - you will never be a millionaire but people still want it (or do people totally cut back on this type of thing in a recession so you will struggle to make money?)
(2) Franchise type selling - like Avon, party planning etc - or again do you think people are not really buying this type of thing due to recession?
(3) Internet site selling - is it worth the outlay or is this type of things for new mums a bit cliche and requires too much time whilst looking after baby to really make a success of it?
(4) Write a book on a baby related topic or another unrelated topic (ha ha I guess everyone thinks they can do this but it is harder than it looks and you will not make money unless you are Jackie Collins etc)
Depends on what other skills you have - all of those are unskilled jobs really.
Technical proofreading, or provision of technical advice can be done around a baby. If you work on contacts then I would think it is fairly recession proof as you may end up being cheaper than hiring staff to provide similar or larger outfits. Eg I think flowerybeanbag does a HR service for businesses who don't need a full-time HR function but do need advice on hiring/firing/policies.
LadyMuck I totally agree with you that skilled people setting up some kind of freelance type service is likely to be most lucartive if (as you say) it is an area where savings can be made by businesses who need that. To what extent do you think the market will be flooded by people offering this type of thing bearing in mind the rate of redundancies in the services sector etc (I appreciate this is just an issue of competition for the work being much greater). I have a skill I could offer but wonder about the outlay to market the offering etc
Depends on what your networks are like. Word of mouth usually works best, so if you start with former employers/clients then it may not be that much outlay. Depends on what size of thing you are goign for. Do you want the equivalent of a wage for yourself or are you looking to have a number of people working for you etc.
"(1) Childminding or cleaning - you will never be a millionaire but people still want it (or do people totally cut back on this type of thing in a recession
so you will struggle to make money?)"
I think things like cleaning are essentially luxuries unless you are cleaning for a business, so is often one of the first things to cut back on. Equally childminding, while not a luxury obviously, is something that people will cut back on if they are in a position of redundancy.
"(2) Franchise type selling - like Avon, party planning etc - or again do you think people are not really buying this type of thing due to recession?"
I think that party planning is one of the things that is actually doing quite well in this. A friend who does party planning says their company's income is up by nearly 50% on last year, and it's apparently due to the fact that a lot of people aren't going out now but choosing to stay at home and do things.
"(3) Internet site selling - is it worth the outlay or is this type of things for new mums a bit cliche and requires too much time whilst looking after
baby to really make a success of it?"
Am assuming you mean like ebay? Tbh although I think it's doable, I think it can also be a lot of hastle, especially with a young baby.
4: selling books is never a way to make money, especially as most of the baby ones have been done already and someone has already cashed in.
Interesting thoughts BFG and I agree. To follow on from LadyMuck I wonder whether people with a technical skill will be "hired back" by their employer or another on a locum type basis presumably at a lower rate although where will the balance of power lie there in the fee negotiaton?
Intersting about the party planning doing well. I am really interested to hear about the "budget" type products or services where business is stragely booming (eg the "eat in for £10 by Waitrose and M&S doing so well because people are eating less in restaurants.
Childminding wise someone in Australia who I know had a successful business offering an "over night" offering for those with a fairly newish baby on a professional basis (other than hiring a nanny etc or a one off babysitter where you don't have time to check or get comfortable with their credentials) the logic being that as a lot of people don't live near relatives who this was popular especially with the sleep deprived who want one off occassional respite although I thought that the set up costs (qualifications required and insurance which I would imagine would be very expensive) would be prohibitive. Clearly this is not something you could do without quite a bit of start up capital....
I have been thinking the same thing about how to make some extra money while on maternity leave.
However I would say about your ideas:
1) Cleaning - Was thinking about getting a cleaner in once a week last year but once recession started I scrapped the idea - so I think many people have!
Childminding - Is much more complicated than just putting up a notice. I use a childminder and before you can even set up you need to make sure to childproof your home and Ofsted need to evaluate your home. Then you also need to attend a short childminding course with your council - you can't start minding unless you are registered with the council and with Ofsted. I also don't know if this has come into force or not yet, but my childminder is saying that Ofsted may well require all childminders to soon have an official college qualification in childcare like the nurseries do!
2) Don't know anything about franchising but I know many people do it as a second job....
3)Internet site selling - besides just selling stuff cheap on ebay, actually setting up an online store is a lot of work. My husband did it a couple of years ago and within 2 years, he had to close it down as it wasn't making any money. With this as well, you may need to register yourself as a sole trader or limited company for tax purposes.
4) Write a book - I work in publishing and there are so many people that have been there and done that, that in specialist areas like baby care/ childcare publishers only really want the BIG NAME authors or people with an actual proffessional background in baby care/childcare.
I am afraid, just being a mum and writing a book about baby care just doesn't get you noticed.
Sorry to be such a kill joy ... I know how you feel about trying to think of something to do to bring in more money! SMP is so little! We have been scrimping and saving over the last year to get a little pot together to carry us through maternity pay.. and this hasn't been easy while still having to pay for DS childcare!
I only have experience in 2 areas.
Franchising - we have a business coaching for the past 9 years. Great business but lots of start up costs and ongoing royalties. Husband works around 70 hours per week typically so not that child friendly.
Internet - We run an internet business together. This is alot more manageable and I now make a great income for working 4 hours per day whilst the children are at primary school. The internet business I run operates in over 160 countries so with it being a proven business there is alot of help and training given. This will in time be a 6 figure business and it does not cost a huge amount to get started, unlike the franchise! http://www.mumtrepreneuronline.com.
It is hard work at the start though - i guess every new business is. Right?
For me, while small business clients have fallen off slightly, the work I do on a professional basis for charities and professional bodies has grown, so I think it may be a question of looking at who is least affected by the recession. I do PR and copywriting.
I think the wisdom goes that people continue to invest in small treats - which is why party plan might continue to do well.
LadyMuck - writing a book isn't unskilled!
Mumsnet deleted my last post because I included my new web address...anyway, I'm going to give the third option a whirl and sell online.
After visiting some trade shows, we decided on a supplier and my husband built me a website. We went live this Monday which is all a bit exciting/scary.
I guess with 3 children I was never going to be able afford full time work thanks to childcare costs - and I really enjoy sourcing the products.
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