Best Small Business Ideas to Make Money from Home
Imagine having to work in your pajamas, from the comfort of whatever location. You don’t wake up to the concerns of what you shall wear to work, being on time to work, or even traffic. We all need to make legitimate money, and it is even better if we can do this from the comfort of our homes. On the other hand, every parent’s desire, especially moms, to make money as they take care of their children. And with the world, which has turned upside down economically, hundreds of people are continually seeking home-based business ideas.
The good news is the presence of technology, which can afford everyone more flexibility in how and where they work. People have converted their bedrooms and garages into mini–offices. Others, especially those who sell online, are doing business while on the go without being bound at a particular location.
What Makes a “Home – Based” Business?
As the need to work from home increases, hundreds of successful home-based businesses are being birthed every day. But what exactly is a home-based business? Apart from having a flexible work-life balance, you do not require extensive experience, plus you can start home-based business opportunities with no start-up cost. However, a home-based business requires a solid foundation, and the best is the one you start because you are passionate about the work. I know of many people who have voluntarily left their 9-5 jobs with 6-figure salaries to follow their passions.
Nonetheless, if you are not sure about taking on your passion full-time, you can choose home-based online business ideas. And because you need to invest in time and resources first;
- Assess your talents and brainstorm on the things you are naturally good at.
- Examine your skills to identify if you have any inborn creativity
- Determine whether your idea is suitable for a home-based business
- Determine the potential profitability.
So What Are These Small Business Ideas That Can Make You Rich?
Whether your dream is to quit your current job or you are just looking for a little side-hustle income, this article got you covered. It outlines some of the lucrative home business ideas;
Event and party planning
Just like event planning, party planning is all about helping individuals, corporate groups, and organizations execute their parties formally or informally. You can comfortably do this from whatever location, and it allows you to express your creativity and organizational skills. And with the right network and clientele, you can be assured of a six-figure income.
Did you know 99% of the professional photographers in the market today never planned or envisioned being photographers? They began as freelancers, but today Photography Business is one of the most trending home-based businesses. But here is the key to success in this business; marketing. Have a website, brochures, or business cards. Attend events and trade fairs geared towards your market.
Sell homemade products
This works well as a side business for stay-at-home moms. Are you a baker or a sewer? Do you love art and craft? Then this is for you. Josh Pigford started printing succulent planters at home with his 3D printer. And before long, a business was born. Look out for a target demand in the market and use your creativity to cater to it with homemade products.
Start a dropshipping store
Starting a small business requires a leap of faith, and while dropshipping work from home is all about patience and, sometimes, heavy investment, it is worth it. The beauty of it is that you will have zero worries regarding inventory or shipping. All this is done on your behalf by third-party stores. Can you imagine making money from your bedroom before going to your day job? This defines Courtney White, the founder of the Children’s brand Finer & Dandy. She wakes up at 4 a.m. every morning to run her dropshipping business before going to her day job.
Start a food business
People are always looking out for the latest menus and recipes. Right? Listen, this may sound unbelievable but owning a food business was the first step for many entrepreneurs to self-employment. It is a flourishing home business for mums or homemakers who have to multitask as babysitters. Very few funds are needed to get started, especially if you want to run a temporary food stand. And with commitment, the stand can quickly turn into a high-class catering business.
Party Equipment Rentals
There is hardly a weekend when parties are not held. Hence, party types of equipment are in hot demand. Party organizers, especially in big cities, are always looking for cooking utensils, chairs and canopies, drums and ice blocks, and table cloths. You can choose to hire and rehire the items or investigate the cost of making or buying them, so you shall be the direct owner.
Work From Home for US Companies
Did you know there are hundreds of companies allowing work from home? Yes. Remote working has become very common today, especially for big institutions. Also, think about the many businesses hiring virtual assistants to carry out business administration work from home!
Records have it that the number of US workers doing remote work today stands at 4.7 Million, and this is not likely to slow down any time soon. The good news is that with the presence of the pandemic, which has hit the world hard, there are heaps of companies hiring every day. So which are these companies promoting working from home?
- Doist, which specializes in productivity software
- GoDaddy offers a wide range of website building and hosting
- Shopify, an eCommerce platform for businesses
- Hopper, ideally for those who love travel.
Other companies offer business transcription jobs from home, and if you have flexible typing speed, you can also make money typing for companies. Other creative home-based business ideas include entry-level travel agent jobs and working for telecommuting agencies. The best thing about remote working is that you set your working schedules. Additionally, you can work for different companies on an hourly basis. However, working from home may not necessarily be a walk in the park. You would have to dear distractions; say social media, friends and family, phone calls. And unless you learn how to deal with such, you could lose a lot of your working time to them.
Remember, marketing your business is of essence and each business has unique marketing models. In the drastically changing world, marketing methodologies have been changing over time. Hence, do not hesitate to jump into and become part of the new marketing world.