Are you looking at ways to make money from home? Do you want to be able to work from the comfort of your own home while making a fair profit?
The good news is that you can manage a variety of enterprises from home and make a profit. This article examines eight of the most profitable home companies, ranging from running an e-commerce shop to offering online consultation services. Read on, and let’s make money together.
First, what is a home business?
As a small company owner myself, I first started my business from my spare room ten years ago. I understand what it takes to establish a business, but I also understand that there are many advantages to running your business from home. For me, there were no overhead costs, and I could work my own hours.
Having a home business means running a business out of your home, versus running a business from a traditional office or commercial place.
A lot of small businesses are run from home, like those of freelancers, artists, people who run online stores, or people who offer consulting services like accountants or bookkeepers.
People who run their own businesses from home like the freedom, flexibility, and convenience that it gives them to balance their work with their personal obligations. Also, the costs of having a home business are usually less than those of a traditional business that needs a separate office.
Small business facts and figures
findstack.com says that if you want to run your own business, you should think about these numbers:
- 30% of people are ready to be their own boss
- 17% of people are unsatisfied with the corporate lifestyle and prefer to work from home
- 16% of people wished to follow their own passion
- 12% of those who began their own business saw an opportunity, and
- 9% seek inspiration from new businesses.
It’s also interesting to know that approximately 50% of all small businesses actually begin at home.
Here are 10 most profitable home business ideas
There are many ways to start a business from home, and these are the most profitable ones with the lowest overheads:
Summary of 8 profitable home businesses:
- Home artisan
- Dropshipping
- Graphic designer
- Importer and exporter
- Home teaching
- Business to business
- Social media influencer
- Virtual assistant
Home artisan business
If you’re an artist and a craft person, running a home business might be perfect for you. For example, you might make candles, pottery, paint art, cook up food, design, make blankets, or craft wooden furniture. Whatever your passion is, selling handmade products from home is a great way to make money.
Now, when it comes to these things, you may sell them through online marketplaces sites such as Etsy or Shopify, which are ideal for advertising and promoting your products
Dropshipping
What about dropshipping? Well, if you like the idea of running an online business but you’re not sure what to sell, you could start a dropshipping business.
This is an ecommerce business model in which you don’t need to purchase the product or be the seller of the product. Instead, you partner with a dropshipping supply company to manage the inventory for you. Now, this dropshipping supply company ships the products directly to your customers whenever you make a sale. That’s pretty cool, right?
Graphic designer
If you have a flair for design, you might like to start your own print from home business.
You can sell products customised with your own designs, such as customised t-shirts, hoodies or yoga pants.
You might want to design and customise your own footwear. You might put graphics on homewares such as customised mugs, towels or questions. You might also offer print on design services for posters and artwork.
Importer and exporter
You could become a wholesaler, which is a great way to make money from home. You buy things in bulk and then sell them online or in person, so you make more money per unit than if you bought them one at a time.
To get started, look into business-to-business e-commerce sites like Alibaba and DHgate, where you can buy things from other countries in bulk and bring them to your own.
Home teaching
Ok, if you like teaching, you could start a business from home teaching languages, math, science, business, or anything else. There’s no limit to what you can teach online, either through online courses or one-on-one lessons.
Teachers are also in high demand these days, so you can make a good living depending on your experience.
There are also a lot of platforms, like Blackboard, Moodle, and Canvas, that can help you make online content.
Business to business
If you provide professional services to other businesses, a home-based business that makes money could be a good choice for you.
This is a very broad category, so you could be a web designer, an SEO consultant like me, a copyright agent, a small business solicitor, someone who edits photos or videos, someone who enters data, does bookkeeping or accounting, or someone who does copyright work. It’s so broad that if you offer a business-to-business service, you can make a good living working from home.
To keep costs low, you can use online freelance markets like Fiverr or Upwork to find help from people in other countries.
Social media influencer
If you like social media now, you might want to become a social media influencer. You can build an online following and make money from that following. If you love making content and are passionate about a certain niche, this could be a great choice for you.
You could build an online following on Instagram. There are a lot of platforms out there, and it all depends on the content that you want to post. Once you have a decent following and a lot of traffic, how do you make money? There are three main ways you can sell products to your followers, whether they’re physical or digital.
You can link to or show an ad for another company’s products or services and get paid a commission based on sales. You can attract sponsorship, where you get paid to promote a brand’s products or services. Another thing you could do is become an affiliate marketer. When a business uses performance-based marketing, like affiliate marketing, it pays one or more affiliates for every user or customer that their marketing brings to the business.
Virtual assistant
Another great way to make money from home is to become a virtual assistant. A virtual assistant (VA) helps other business owners with their day-to-day tasks. You could charge a set fee for your services or charge by the hour. Some VA services you might want to offer are website management, travel arrangements, general appointment coordination, and block riding.
Now, to be a VA, you need to be very organised and able to do more than one thing at a time. The good news is that the overheads are low. All you really need is a phone, computer and a fast and reliable nbn fttp plan. Why not look into some local virtual assistant groups near you and try to make some contacts that way?
Key points
- People who work from home like being able to balance their work and personal responsibilities because it gives them freedom, flexibility, and ease.
- For the most part, running a business from home costs less than running a regular business with an office.
- There are a number of profitable home businesses you can start, so why not pick an area you like and let’s get down to business.