Starting a new business is difficult, but there are certain industries where small businesses thrive and fit perfectly into a particular lifestyle. Businesses that require a lot of capital to get started are often times only appropriate for certain people that can access the means to do so. For everyone else, we have to work our way up from scratch.
There are certain activities that can ensure a successful business, and a few specific industries where business is relatively simple and inexpensive to start. Becoming a Notary Public is one of the best small businesses to start if you are one of these people and want to start a side business or work for yourself.
- Stay at home mom or dad
- Need a part time job
- Real estate agent
Stay at home parents ticket to extra income
By law, notaries are only supposed to be serving clients inside of a set of working hours. You can set your own hours, and if you’ve got the advertising down, only service people during your available time frame. This means you can do everything you need to with your family, and still make extra money.
Part time job seekers
This is especially good if you work at a part time job close to any legal industry. Legal documents need notarization constantly, and if this happens around you, you can grow your business that way.
Entrepreneurs have an advantage because of this
Normally someone who’s been in business before understands the challenges (mostly around getting new clients). If you’ve been through a number of businesses, or are a serial entrepreneur, you’ll probably do good at this business. One of the biggest keys to making a notary business work is marketing. More on that later.
Why every lawyer should be a notary
Even if you work at a law firm with legal assistants, you’ll probably be more attractive as a lawyer, more accessible to your network, and more effective as a business person if you’re a notary. What better way to help clients and bill more hours if you’re ready to take care of documents any place, any time.
Banker’s deal with people who need notaries daily
Bankers probably already have a lot of notary customers visiting them daily. If you position yourself as the go to notary at a particular location, you’ll get referral business from your immediate neighborhood, and will be able to grow your business into a large customer base.
A nice addition to your real estate services
If you’re selling or buying homes, you’re around great notary customers all the time. Normally the title, insurance and a lot of other paperwork needs to be notarized. Being an agent and a notary helps your client base complete their home purchase faster with less steps. This will help your real estate earning and create an additional revenue stream.
Here are the steps you need to take to become a successful notary
1. Get registered in your state.
There are different laws around getting registered, paying fees and what requirements are needed to become a notary. Make sure you are registered properly, and if you are travelling a lot to a new state, register as a notary there as well. You’ll get a lot more business that way.
2. Start surveying for customers
This is where the entrepreneurial skills are critical. Truth be told, these are the most important skills to being successful in this business. You’ll need to find customers. Start by being near an industry that is full of legal documents, like the law industry. Put the word out, and use platforms like LinkedIn to find new potential customers.
3. Set your pricing at the right levels
Understand what other notaries around you are charging and make sure to charge something similar. You don’t want to be the only one charging a ton of money. You’ll go out of business quick like this.
4. Learn how to grow your business consistently
You’ll need a good game plan to grow your business: consistent new clients every month, as well as returning clients. Learn everything you can about growing a business, customer relationships and marketing. You’ll want to team up with some great business people to learn from and possibly partner with.
Here’s a great list of resources to use when getting started.
- Create a great Notary website
- 6 Ways To Market Your Business For Less Than $100
- Get Listed In Every Directory You Can
- Develop A New Business Growth Strategy
- Learn Everything You Can About The Notary Industry
- How To Come Up With The Right Pricing
- Learn How To Sell A Notary Product To New Customers
- Read Everything Your Can On Starting A Small Business
- Use Great Billing, Sales & Documentation Templates
I handle communications for Notary Depot, help people understand how legal documents and official signing agents can help complete many different types of forms, certifications and move cases along.