Mompreneur is a term made with the combination of two-term “mom” and “entrepreneur”. It describes the woman who starts her own business along with a full-time parent.
A woman has to make a balance between working and their children’s caretaking.
If the workload is increased then they need to accomplish it during the time when children do not require much attention like during their schooling hours.
Balancing work along with parenting responsibility becomes a rising trend among women which makes entrepreneurship more equal and inclusive.
The trend is rising day by day especially in the world of the internet. With the help of a digital channel and platform, it becomes easy to sell your products from home instead of relying on any offline outlet.
Current Mompreneur Trends
If we consider the united stated then one in every three small business owners are mothers. In addition to this, the rate of starting a new business is double compared to men, which clearly states that the craze of being a business owner along with parenting has increased drastically.
According to the research, 57% of women starting their own business at the age of 40 or over and the average age of the first child tend to be six before women start their own venture.
If we consider the percentage ratio then 79% of Mompreneur are married and 95% have a partner who earns an income. Moreover, the study shows that 79 percent of Mompreneur have 1-2 children while 71 percent have primary childcare provider.
Challenges Mompreneurs Face
We are sharing the common challenges which are generally mother faced while playing the role of Mompreneur. Let’s have a look
1. Lack of funding
Most of the Mompreneur started their business on their personal saving or their own credits. It also may be difficult to get insurance as a single mom. They generally do not find an investor to help and grow their business.
In addition to this many women has the belief of being superwomen who want to do all the things alone, without asking for help.
You might not believe but according to the study when a mom approaches an investor to raise funds then the success ratio is very less compared to men.
2. A feeling of guilt
The feeling of guilt will prevent the mother to start the business and if somehow she manages to start it then this feeling will cause them to give up too early.
The reason behind this feeling is the care of children and this anxiety will not let them focus on their career or the business they have started.
3. Undervaluing the efforts
There is no doubt that women always make their worth to the ground, they undervalue their efforts and due to which achieving success might get difficult.
If you represent yourself as underpaid then you will not get according to your worth.
In reality, if you stop focusing on shortcomings and started working on your stronger side then you can achieve success too according to your worth.
4. Poor self-care
While managing all the aspects of business and caring for our child women forget to add their own selves on priorities.
In this ongoing struggle, women lose control over health, and once it gets affected all the work will be disturbed which results in the downfall of the business. So, managing our own health along with responsibilities is also important.
5. Lack of support
It’s a natural thing that if you start something new especially Mompreneur to achieve something then many people around you will scoff and roll their eyes. Moreover, you may lose your friend or your family for your initiation.
While in reality, everyone needs guidance or a mentor to grow the business which generally a woman does not get as much compared to men.
6. Sticking on your decision
As you are managing many things to run your business, it is important to stick to your decision no matter you are getting success at an earlier stage or not!!
Many women lose hope at an earlier stage due to many reasons like managing house and child along with the on-going business.
But if you stick to your decision and manage your hard time then there is no doubt that success is yours.
What Businesses Are Ideal for Mompreneurs?
Here are the 14 business ideas for Mompreneur in 2020
1. Social media marketing manager
Its great idea for Mompreneur to manage the marketing for local business as it is flexible and it does not require any formal education.
In today’s world having an online presence is very important as it helps you to grow the business. So, by approaching business owners you can easily manage their social media profile and help them to grow their business by playing a role as a social media marketing manager.
2. Online freelancing services
Days are gone where real estate agent analyze market value estimation of land physically. It’s a digital world. If you are good at some skill like coding, accounting, writing then websites like Upwork and Fiverr is waiting for you along with potential clients.
The cost to start online freelancing services is very minimal. To become more credible in the market of freelancers you can create your personal website as a client first visit your profile on the freelancing platform and then they visit your website to know about the authenticity of your service.
In addition to this if you made a video which promotes your service then it will immediately separate yourself from most of your competitor.
3. Launch an online course
If you have great knowledge in a topic along with great explanation power then the door of an online course is open for you.
By launching your online course you can connect with a number of students or the people who are eager to know regarding the said topic.
To launch your course you can use an online platform like Udemy and teachable. Each platform has its own specification and requirement so before selecting anyone make sure you have studied it thoroughly.
4. Become a virtual coach
This is another way in which you can meet your client virtually and help or consult them to improve in a particular area such as life, career, business, or nutrition.
Due to the availability of the latest technology is being a virtual coach more appealing.
One of the great examples of an online app for a meeting is the ZOOM app which allows users free and unlimited one-to-one meetings.
So, all you need a laptop which comes with a built-in camera or a smartphone camera and you are all set to start, isn’t it great!!
5. Resell items on eBay
This is one of the most flexible ideas in which Mompreneur can resell their items on eBay. Many mothers visit “Garage sale” at weekend to find low-priced items and sell them for a markup on eBay.
It is recommended to learn this industry well before started like toys or musical instruments so you can get a good deal.
6. Personal training
If you are a fitness freak then it is a great idea to start a low-cost business idea by starting personal fitness training.
As a mother, you can initiate specialize in pregnancy training or postnatal training to get your client.
In the begging, you can provide training in public areas like a park or beach. If you don’t find it as a quality place then you can rent a private space for that.
If you are interested in the era of blogging then it’s a great thing to start as a number of moms love to learn from another mother like you, right?
With the help of blogging, you can connect with a number of mothers and build your own online audience.
For better engagement of your user, you can start with the niche like cooking, parenting and caring of kids, etc.
As far as the earning concern then Google AdSense would be the best option for you. Once your blogging website is approved form the Google AdSense team different advertisements are started showing on your website, and you will get a specific amount of money according to the criteria set by them
8. Online influencer for parents
If you are less interested in writing and blogging then you can move to a social media platform where you can connect with a number of parents easily.
You can create a video on YouTube or share helpful images and tips for parenting on Facebook or Instagram.
In addition to this, you can also create a Facebook group for parenting and similar interest and connect with a number of audiences.
In this initiative, there are several ways to make money. As your audience network grows and your follower started following your recommendation, brands and companies will approach you to promote their product or services.
You can also go with affiliate marketing in which you receive a commission for every sale which comes through your link.
9. Resident home cleaning
To keep your home clean and neat is everyone’s priority and if cleaning brings joy then starting the business of resident home cleaning has the great opportunity to earn money.
You can hire employees too if you have enough numbers of clients to clean their house. All you need to manage the time along with a commitment to clean their house within a given period of time.
To start this business you need to purchase cleaning materials which have cost less than 250-300$.
In addition to this, you need a business card to promote your service as it helps you to grow your business.
10. Sell homemade goodies
Mompreneur can start this business easily as homemade goodies can be created while a baby is sleeping.
If you are not confident enough at the beginning then you can test your product on your family and friends to get feedback.
You can approach the local vendor to sell your products. In addition to this, you can sell your product online by building your e-commerce website like Shopify and generate your revenue.
Things need to adhere to become a Successful Mompreneur
1. Planning & execution
There are numbers of business ideas available which can be started but it does not mean that you will get success in anyone.
So, before starting any business do a thorough research & market analysis & then made a plan to execute it properly.
In the 21st century, the approach of customers has more towards something creative and new.
So, try to find the gap in the industry and start something new which fulfills the requirement of the consumer along with creative initiation.
It is not mandatory that you have to start these 10 businesses which are listed above you can start something creative too.
3. Make your planning flexible
As a Mompreneur, it is essential to make your plan flexible, so whenever you want to change it you can easily do it.
There are many hurdles which you never expect and even you didn’t mention it but when it comes you need to face it and change your planning according to it.
Every business needs investment in which some businesses need a smaller one while others need a larger amount of investment.
Once you decide the category and the type of business you want to start, you will clearly know how much investment it needs.
So, make a plan according to your business and take action according to it.
5. Time management
As a Mompreneur, you need to manage your time for business and children too. You can’t overlook any of them.
When you are spending your time with your children it is essential that your heart and soul should be there and the same thing is applicable for business vice versa.