Starting a small business can be a fantastic idea for stay-at-home parents.

It can be a way to bring in extra income, as well as have something interesting of your own to do outside of looking after the kids.

Building up a profitable business or side hustle from scratch can be extremely rewarding, especially if you’re doing something you love.

If you have an idea for a small business and are keen to get started, here are three things to think about first:

Insurance

Some types of businesses can require you to have liability insurance.

General liability insurance is enough in most cases, but if you are selling products, you may also need product liability insurance.

If you have anyone working for you, you need to have workers’ compensation insurance in addition.

You may also want commercial vehicle insurance if you need a vehicle for work, for instance, if you plan to become a mobile hairdresser.

The type of insurance package you need and how much your premiums will be will depend on the type of business you want to start. Look for tailored yet affordable liability insurance that fits your needs.

Actually getting insured once you have a package and quote you’re satisfied with is a very quick process, so this won’t delay starting your business.

Financing

Many small businesses can be started with very little capital, but even if you have everything you need to get started, you should still consider things like how you will tackle any cash flow issues.

These can occur, for instance, if you need to buy materials while still waiting for invoices from customers to be paid.

This isn’t a risk for every type of business, but if it could be for you, it’s wise to have a solution in mind.

Branding

Even the smallest home business needs a brand that customers can become familiar with.

This is especially important to decide on in advance so you can do things like setting up social media accounts and any other types of early marketing you want to do and have a professional, coherent look.

A strong brand is more than just a logo, even though logo design can be a good place to start, and involves choosing a color palette and set of fonts to use for your business.

It’s good to take some time on this or even hire a professional designer because while you can rebrand later, it’s far better to launch strong.

Rebranding is better left for if you feel your brand has become dated in a few years or if your business changes its identity rather than because you weren’t satisfied with what you had at first.

These are not the only considerations you’ll need to think about in most cases, but they are ones that apply to many or most small enterprises, so they’re good things to tackle straight away.

Why not get started right now on some or all of these tasks and begin preparing for your new life as a small business owner and stay-at-home mom?