SCORE: Home-Based Business: Options and Plans for Growth

This SCORE of Fox Valley workshop will concentrate on various options for growing the home-based business along with how to develop the strategies needed to sustain growth.  The McHenry Area Chamber of Commerce and Old National Bank will also be here to discuss options for brick & mortar potential and financing options. 

Growth options discussed:

• Adding additional support staff, employees, independent contractors, social media specialists
• Securing a production facility outside the home
• Finding and securing a brick-and-mortar retail location
• Having a space in a co-working or cooperative production space
• Develop sales through wholesale distribution, expansion of the product or service offerings and use of a co-packer

Strategies to sustain growth include:

• Improving the current website and social media marketing function
• Improving traditional marketing strategies
• Participation in farmer's markets, popup events, tent sales, food trucks, community celebrations
• Active involvement in trade association, meetup groups, networking events, community organizations
• Developing a sales calendar and sales/profit proforma
• Financing the growth opportunity