Starting a notary business can be an excellent way to provide an important service to the public. It gives people the opportunity to quickly and conveniently get documents notarized without having to wait in line at a government office. However, there are some pros and cons that should be taken into consideration before starting a notary business.
Pros:
1. Low startup costs – Unlike most businesses, the initial cost of setting up a notary business is relatively low. After getting certified as a Notary Public and purchasing some basic supplies, you’ll be ready to start providing services to customers.
2. Flexibility – Working as a notary allows you to set your own hours and work from the comfort of your own home, if desired.
3. Easy to learn – Unlike many other businesses, becoming a notary doesn’t require lengthy or complicated training. As long as you meet the state requirements for certification, you can start working as a notary right away.
Cons:
1. Limited earning potential – Although you can charge a fee for services, the income from running a notary business is typically limited. As such, it’s important to understand that it may only be a part-time job and shouldn’t be relied on as a primary source of income.
2. Lack of repeat customers – Notary services are usually one-time transactions, so there’s no potential for repeat business or long-term client relationships.
3. Competition – There are many notaries in every area, so it can be difficult to stand out from the competition and attract customers.