Thinking of starting up your own business or already have one set up? Congratulations–you’ve already taken the first steps to something amazing! People often don’t realise just how difficult it can be to muster up the courage to start a business. Sure, they might have loads of bright ideas that they want to try out, but until they actually put their money where their mouth is and start doing something, it’s all just fluff.
But starting a business, especially a home one, isn’t a simple task. One of the biggest challenges that you’ll be facing is choosing how to equip your business on the cheap. As a home business with a fairly small budget (at least, we’re assuming so) you’ll want to maximize every penny that you spend. So regardless of the type of business you want to set up, here are some fantastic tips to help you do it on the cheap.
Buy second-hand and used to save a whole lot of money
Depending on the type of business you’re running, there’s a good chance that you’ll be able to save a huge amount of money by getting second-hand or used items. This sounds like a fairly obvious tip, but there are ways to take this to the next level–especially if you need specialised equipment for something!
For example, if you’re planning to do a bit of metalworking at home in your workshop, then there’s a good chance that you’re going to need expensive machinery and tools. Now, getting these new is usually a fine option because you can finance them and your business will probably make the money back. However, if you want to own something immediately or are interested in saving money, then how about looking at used options? Getting an as-new industrial spot welder can save you hundreds if not thousands of pounds, and buying something like a printing machine for shirts can be much cheaper if you look at well-used models that have come straight from existing factories and warehouses.
So if you’re thinking of starting up a business that requires expensive machinery and tools, don’t hesitate to look at second-hand options. Keep in mind that while marketplaces such as eBay can be good, you might need to look at more specialised vendors to see if they have used, well-worn, and as-new items.
Keep an eye out for cheaper software licenses
A surprising expense when starting a home business is actually paying for software. Something like an Office 365 subscription won’t seem like a huge expense at first, but if you compound this with other subscription services and perpetual software licenses, you could end up paying hundreds every month just to keep your business running. This is even more expensive for premium software such as Adobe’s suite of creative programs. This can lead to huge expenses every month that just keep on increasing whenever you need to add new features or upgrade to different versions. Even the Windows operating system itself is expensive and could cost hundreds if you’re not savvy about where you obtain it.
So here are a few tips to help you cut down on software licenses:
- When looking for a copy of Windows, consider buying pre-built computers or old office computers (Dell is a great brand for this) because they usually come with Windows licenses already.
- Look for alternatives to popular software. For example, GIMP is a great alternative to Photoshop that is functional and well-loved by its users.
- Consider the price of a subscription for a piece of software versus the cost of a perpetual license. You might find that the upfront cost of a long-term license is cheaper than the cost of a monthly subscription.
- Always look out for discounts! Software companies usually do huge discounts now and then, giving you the option to save even more money on monthly subscriptions and lifetime licenses.
- If you only need basic features, then look for older versions or limited functionality versions for software. Sometimes, the “Pro” version of something can cost upwards of twice as much as the standard license but also come with far fewer features.
We hope that this post has given you some ideas on how to equip your home business for a much lower cost. We understand that hardware and machinery are going to be some of the biggest costs, but you also can’t forget about software. The expenses can quickly add up if you’re not careful, hence why it’s important to consider the potential savings.