My dh and I run our own business out of our home.
I would definitely recommend doing what you like to do and have some experience in.
We’re musicians (dh has been playing the accordion professionally since he was 16, he is now 38) and videographers (dh’s college degree). This diversity has served us well in bringing in a fairly consistant income.
So, I would first recomend looking into seeing if you can set up your own business in speech therapy, since you seem to enjoy that. If you can do that, it gives you the most flexability and you already have the exprience to help you secure more of your own clients.
As for setting up the business I recomend 1) finding an good accountant that you trust to give you good advice in setting up the paperwork to track income and expences 2) the book “Small Business Marketing For Dummies” offers some good advice 3) Most importantly get involved in your local Chamber of Commerce and / or other similar business networking groups. They say it’s not what you know, but who you know. You already have the first, these business groups give you the second.
Another good way of advertising yourself that doesn’t cost a lot is posting flyers with business cards on local bulletin boards found by gas station restrooms, laudrymats, grocery stores, banks, etc. A little more expensive, but included if you get a business phone line, is getting into the yellow pages (This can’t be done if you do a “work from home” business that is a part of a larger business)
My dh and I looked into a few of the “do it yourself” businesses for me to help supplement income when we first went full time self employment in 2000. Like Meleluca, and Market America - if you like the product and like sales these can work for a few people, but they do have large up front costs and you are restricted on how you can run your business. But, if you have no interest in setting up a business for yourself these can work. (you can also join the Chamber of Commerce as a seller for one of these companies).
The only one I found to work for me, for a little extra income, was a small coin operated candy machine business. If you can find a location for your machines it definitly brings in a profit.
I recomend getting the machines from a place like Sam’s Club or over the internet - we used
www.usedvending.com. and I recomend not “buying into the business” when company’s like Vendstar come into town, though do go to the seminar they offer to get advice on the machines and how to run the business then say no thanks. They are just a lot more expensive buying directly from them and they try to push you into buying more machines than you can possibly place. The market can be saturated already, so look into possible placements first. Buy them as you can place them with a couple extra for repairs and other placements as they become available. You have to drive around about every other week to once a month, depending on how good the placement is, to service the machine and put fresh candy in.
Well I hope this helps,
Good Luck & God Bless