Business Idea

Start A Home Inventory Business

About

Starting a home inventory business requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell , or selling online, you can use this page as a guide for everything you'll need to know.

Key stats

market size
$3B
gross margin
90%
time to build
9 months

About

Starting a home inventory business requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell , or selling online, you can use this page as a guide for everything you'll need to know.

Key stats

market size
$3B
gross margin
90%

 

time to build
9 months

Startup Costs

Min Startup Costs Max Startup Costs
Employee & Freelancer Expenses $0 $5,000
Equipment & Supply Expenses $500 $5,000
Website Costs $232 $6,425
Business Formation Fees $600 $4,700
Vehicle Expenses $0 $10,000
Retail Business Expenses $1,250 $6,650
Advertising & Marketing Costs $75 $3,986
Software Expenses $162 $2,720
Other Expenses $0 $800
Office Space Expenses $10 $100
Specific Industry Expenses $0 $500

Successful Businesses

Business URL Rank
CommerceHub commercehub.com #9,494
Cin7 cin7.com #19,608
GST Billing Software margcompusoft.com #33,924
Home brokerbin.com #123,519
Asset Tracking and Management Software ezofficeinventory.com #134,327
ZapERP zaperp.com #261,096
Logic ERP Solutions Pvt Ltd logicerp.com #279,093
Sun Toyota suntoyota.com #581,127
QStock Inventory qstockinventory.com #795,874
Business Mobile Application And Cloud Software Development ahg.com #1,313,107
WithoutWire withoutwire.com #1,323,534

Pros & Cons

Pros Description
Little startup costs required The cost to start a home inventory business costs significantly less money than most businesses, ranging anywhere from 2,829 to 45,881.
Rewarding work Starting a home inventory business can be really rewarding work. After all, you are solving an immediate issue for your customer and you're working on something you truly care about.
High customer retention rates Once a customer invests in your product, they've invested their time and energy to utilize your product/service which is highly valuable to them. Typically, your product or service becomes indispensable to your customer.
Pick & choose the clients you work with Home Inventory Businesses have the ability to choose the clients they work with. You have the freedom to work with only a few loyal clients or with hundreds of clients!
Control of workload With starting a home inventory business, you have the unique ability to choose how little or how much you want to work. You also have the freedom to decide which projects you want to work on, and can turn down the ones that do not interest you.
Gain exposure and experience This career allows you to gain experience working for multiple different businesses - which will benefit your resume and also keep things interesting for you!
Cons Description
Motivation of employees If you plan to have a sales/content team on board, finding creative ways to motivate them can be a challenge. It's important that you're able to offer great incentives and a good work environment for your employees.
Longer Sales Process A home inventory business can be a big time and money investment for your customer, so it's important you plan and predict a longer conversion funnel and stay in communication with potential customers.
Work can be inconsistent As a home inventory business, the amount of work assigned to you and schedule tends to be more inconsistent, which may make your income less stable. It's important to set boundaries and budget accordingly based on the amount of work you plan to have.
Lack of benefits With a home inventory business, you are typically self-employed and responsible for finding your own insurance, which can be quite costly and time-consuming.
Taxes As a home inventory business, you typically pay self-employment taxes which can be quite high. It's important to understand what you will be paying in taxes each year so you can determine if the work you're taking on is worth it.
No safety net Typically, as a home inventory business, you do not receive a consistent pay-check and instead earn money based on your transactions each month. During the slow periods, you typically take away less since the job is based on commission. It's important to budget accordingly for the slow times.