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Work at Home Business Opportunity: TV Repair Home Business

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Source:homebusiness.about.com

(LifeWire) - Overview of the TV Repair Business

Thinking of starting a TV repair home business? It's not the lucrative job that it once was, but you still can make the most of this opportunity, or possibly consider pursuing it part-time or adding other electronics besides TVs.

New flat-panel TVs are far more complex than old analog sets were, making repairs more costly and more difficult. As a result, it is often cheaper for consumers to buy a new set than to repair an old one. But if you've got a knack for electronics and the right training, you can launch a TV repair home business. Odds are you won't earn enough to make it a full-time endeavor, but you might be able to earn enough to make it worth doing on the side. There are still plenty of homes out there with TVs that continue to provide some value in the home that could be repaired or updated without having to replace them. Because the business has faded, it's getting harder and harder for homeowners to find TV repair specialists. And, repairing older sets is often a much greener option than replacing them.

TV repair isn't a job or home business for novices. To start with, you should have some training -- either through a TV repair apprenticeship or vocational school program -- before you open for business. Some online and at-home correspondence courses also can be found in TV and electronics repair, as can product instruction manuals, but nothing beats old-fashioned hands-on experience. You might be able to supplement your income by refurbishing the first generation of flat-panel sets (the warranties for many of which have already expired), doing subcontracting repair work for an electronics retailer, or by repairing other consumer electronics like computers.

Pros of a TV Repair Home Business

· The market is growing rapidly: A third of U.S. households owned a high-definition television in early 2009, according to the Leichtman Research Group. That's twice as many as just two years earlier. The transition from analog to digital broadcasting will likely prompt more people to buy flat-panel TVs or seek help in getting their old analog TV sets to work after digital TV transmission is mandatory.

· Some TV repairs, such as replacing a faulty panel, can be handled on the spot in the customers' home.

· The job can be good source of supplemental income for an electronics-savvy person.

Cons of a TV Repair Home Business

· Manufacturer and retailer service centers can often do the repairs cheaper (but not all TVs are still under warranty and some manufacturers have since disappeared).

· Rapidly evolving technology requires staying up to date,as well as having the necessary knowledge to maintain older TV sets.

· Flat-panel TV prices are falling, meaning many customers will opt to replace, not repair, their existing set. However, in a down economy, customers's may not be able to afford a brand new set.

What You Need to Get Started in a TV Repair Home Business

· Ample, secure space to repair TV sets and store them while they're undergoing repairs.

· A business license and bonding, if necessary in your area. Contact your local chamber of commerce and local city and state officials in order to find out what is required.

· Tools and parts suppliers you can trust. That also means building relationships with manufacturers because some parts may not be available outside of the manufacturer.

· People skills. You'll be entering peoples' homes and sometimes taking their sets away.

· Quick assessment skills to troubleshoot and fix sets on the spot or being able to determine if a set is salvageable before having to transport it to your workshop

· Advertising in print and online to promote your business. A website can also help promote your home business, as most potential customers may search online for TV repair services in their area.

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