Top 10 Business Ideas for Husband and Wife: Starting your own business together may seem like the dream, but it’s very important to keep in mind that it’s also going to be really hard work! If you both have different ideas about what you want to do and have entirely opposite strengths and weaknesses, you may run into trouble sooner rather than later.
Top 10 Business Ideas for Husband and Wife
And if that’s not enough, there are two people to please instead of one, making the stress even more intense! To help you avoid these pitfalls, here are 10 business ideas that work great if husband and wife partners work on them together.
1) Partner With Firms
In order to get a business idea off of the ground, you may need help. Consider partnering with firms that already have a customer base or contact network. For example, if you wanted to open a coffee shop, try partnering with an existing coffee chain. You could offer your coffee shop as an in-house branch of theirs by leveraging their client list. In exchange for offering one of their locations to you, they might be willing to give you a percentage of sales from their location.
This is also helpful because it will allow your business idea to start generating money faster since you’ll be generating income from day one instead of working on building up a customer base yourself first. Just make sure you’re not losing too much control over your own business idea. If you do decide to partner with another firm, consider getting everything in writing so there are no misunderstandings later on down the road.
Also, be sure to read through our post on different types of business structures and choose what’s best for your particular needs. If necessary, speak with a lawyer who specializes in small businesses to ensure all legal requirements are met. Finally, check out our post on alternative funding sources so you can find ways to fund your new venture without dipping into your own savings account (which can leave you broke if things don’t go according to plan).
2) Start A Niche Service
Working with your partner can be a great way to set up a business. Whether you specialize in different services or have complementary skillsets, going into business together is a good way to share overhead expenses, collaborate on marketing efforts, and even take advantage of each other’s expertise. Your revenue stream may be smaller than what you could generate working on your own (but no one ever said that starting your own business was easy).
At least, going into business with your spouse makes it more likely that you’ll enjoy success; it’s estimated that businesses owned by married couples are 50% more likely to succeed than those owned by single entrepreneurs. If you’re ready to launch a service-based company, consider offering consulting or freelance work rather than selling products.
Consulting often offers higher margins and can give both partners the freedom to travel or manage their time as they choose. You also won’t need any upfront capital aside from equipment costs—which means there’s nothing stopping you from getting started today!
My husband loves video games so I thought I would try creating an app game called The Gold Digger where players use their finger(st)s as pickaxes while digging down through gold looking for coins. When players dig deep enough they will come across diamonds, emeralds, and rubies which are worth more points than gold coins!
3) Host Parties or Events
If you have a digital product to sell, such as an ebook or software application, you can set up an e-commerce website on Shopify or another site that hosts digital goods. A few things to keep in mind when considering selling digital products: If you will be using any kind of DRM (digital rights management) then make sure you are aware of how it works and don’t try to get around paying fees by making your own DRM.
Also, if you are looking into selling digital downloads then there may be fees associated with setting up a payment processor account (see below). Depending on what country you live in and what type of account setup method you choose there may also be VAT taxes that need to be paid on each sale.
4) Sell Digital Products
A great business idea for a husband and wife team is to create digital products together, then sell them online. Digital information products include e-books, PDF guides, software, video courses, or anything else you can think of that you can deliver digitally.
They cost less to produce than traditional paper books (since there are no printing or shipping costs) which means your profit margin can be higher. Selling digital products on your own website is simple—you don’t need to set up an account with anyone but PayPal in order to accept payments.
5) Open An E-Commerce Shop
You know your partner’s tastes better than anyone, so you can tailor a store that will be irresistible to them. Even if you aren’t into selling clothes or electronics, there are plenty of opportunities out there: You could open an eco-friendly or organic store with secondhand goods (just be sure they’re in good condition!), use your love of vinyl records to stock up on LPs, or put together a home accessories shop with items from local artists.
6) Multi-Level Marketing
If you’re a natural salesperson with an easy-going, outgoing personality, network marketing can be a great opportunity to start your own business. You can sell a product like Amway or Herbalife through multi-level marketing, which means you earn money not only from whatever products you are selling but also from people you recruit to sell them as well.
If you’re at all interested in learning more about starting your own network marketing business (also known as direct sales), check out some of my past posts about home parties here and here. To find out more about MLMs, click here. And finally, here is a great resource on how to get started in network marketing.
7) Self Publishing eBooks
EBooks are an excellent option for a husband-and-wife team. If you’re both able to write, you can churn out eBooks that appeal to niche audiences. Don’t forget to be diverse; some industries will have more natural fits than others. This is particularly true in terms of subject matter—one of you could research health topics while your partner studies money management or parenting issues.
You can even talk with other entrepreneurs who sell books about their experiences, as well as your competitors, which will give you an idea of where there might be more demand for your product or service. Be sure to set up processes around accounting, editing, and sales so that one person isn’t stuck doing everything.
It’s also important to find someone who can help you develop a strategy around how much time each book should take to complete. That way, one person doesn’t end up writing faster than they’re capable of producing content at its best quality (which may make customers unhappy).
8) Sell on Amazon, eBay, or Etsy
Even if you don’t have any products of your own to sell, there are plenty of ways to earn a hefty side income on eBay. And it doesn’t take a lot of time, either. There are several online marketplaces that only deal with different types of products. So if you can find something that’s in high demand on one marketplace, then you can make some easy money by buying it at wholesale prices, or even getting it free, and selling it at a retail price on another site.
Just make sure that there’s enough traffic on these sites to drive down fees. If possible, manufacture as much as you can so you reduce your out-of-pocket expenses and keep more money in your pocket. Here are three proven ways to earn extra cash from home: Sell on Amazon; Sell on Etsy; Sell on eBay.
9) Design Websites For Others
If you’re not an artist or craftsman, consider opening an online shop where you can sell your hand-made products. Etsy is a great place to set up an online shop if you have handmade goods to sell. The most important part of selling on Etsy is getting good photos of your work so buyers know what they are buying.
Then it’s just a matter of promoting your products in different markets with a product listing on each platform while trying to attract followers/subscribers. If enough people buy from you, you can even open up your own storefront where people can see and buy in person! Of course, setting up an online shop will also make some money; thankfully, we have some great tips for saving money on selling items online as well!
10) Open An Online Shop
Setting up an online shop is easier than ever. More than that, with a little savvy, your online store can pay for itself in no time—and quickly scale into a full-time income machine. You don’t need to invest thousands of dollars or even handle physical inventory. Today, you can get started with as little as $20 per month by selling digital products on platforms like Etsy or through big retailers like Amazon and eBay. However, be aware that you’ll need to build your brand before making any money on these platforms.
The more effort you put into building your own personal brand, the more likely you are to succeed in affiliate marketing or any other business venture down the road. If you’re just starting out, consider launching a niche website focused on one topic such as dog training or blogging. By creating content around one specific topic, you can use Google AdSense to generate revenue from ads displayed around your site.
When people click on those ads and buy something from another company’s website, you earn a commission from their purchase. Eventually, when traffic grows and you’ve built up a loyal following (known as authority), we recommend using email marketing software such as Aweber to continue building relationships with readers while also promoting products they might want to buy.
Also Read: Top 10 Business Ideas For Healthcare
So, that’s our complete list of 10 business ideas for husband and wife. We do hope you enjoyed reading it. Once again if you have any suggestions or comments please feel free to write them down in the below section.
Please also share these 10 businesses with your friends who are looking to start a new business or are still confused about what they should start doing as their profession.