Starting a business always seems like a heavy task. This is mostly because of the risk involved in the return of your investment. But with proper planning and the right home based business ideas, you can create your own business without much capital outlay.
In this article, we are going to talk about some of the best home based business ideas that you can start even if you are an absolute beginner.
Why start a home based business?
A home-based business is not a new concept. In fact, the concept of a home-based business has existed for centuries. The advent of the internet has revolutionised the way people do business, and in turn, the concept of a home-based business has changed. Today’s home-based businesses are no different than any other businesses you’ve ever seen or heard about.
The difference is that it’s more feasible to do this out of your own home. You don’t need to rent space, you can start with as little as $100 and you don’t have to deal with corporate overhead expenses like rent, maintenance fees and taxes: all while having access to your own home office space.
The benefits are many: You control your own schedule; You don’t have to share an office with someone else; You can get away from the office if you want; Your employees don’t have to pay for health insurance or vacation time; you can control your own hours; and so on.
There are two big advantages of being an independent business owner rather than working for anyone else: the freedom to set your own hours and decide on how much you earn per hour; and the ability to choose how much time you want to dedicate towards running your own business instead of just answering phone calls from clients or answering emails from customers.
For example, if you’re an artist whose work is sold on eBay and most likely will continue until it becomes unsellable then it would make sense for you not to invest as much money into running this business as a part-time employee might do.
This is why many entrepreneurs prefer working from home because they find it easier than being stuck inside all day long with clients and meetings trying desperately not go crazy with all the stressors associated with running any sort of business at home (giving talks at events, managing staff members etc.).
The best home based business ideas
This list of is by no means exhaustive – there are literally hundreds of home based business ideas out there that have been tried and tested over the last few decades.
That said, these ideas for home based business will help get started so that you don’t need to spend weeks planning and asking around before knowing where to start (and after which products people are paying money for). So, take a look at these valuable ideas and see which one suits you the most.
Start blogging
Blogging for many people is purely just for passion, however you can make money from it with a little effort.
The truth is that there are some great blogs out there and if you are creative enough you can come up with your own blog too. It doesn’t even have to be about your product or business idea (though it may be something related to your day job). You could just explore different types of topics and write in a way that works for you best.
Some examples of what I would consider potentially profitable blogs are product reviews and money tips (and there are obviously tons of others). The key thing here is not to focus on the technology itself; it should just be about sharing information related to your idea/ideas/business/experience in general so people learn from what you have written or talk with each other about their experience (or whatever niches they want to get involved in).
Become a dropshipper
This is one of the easiest home based business ideas to start a business. Here, you don’t have to bother about manufacturing or shipping the product. All you have to do is to find the right supplier. He will store and ship the materials that are being ordered through your shop.
This is a really convenient home based business model that you can try without much investment. But all the other services like customer care, etc. will be controlled by you in this case.
The investment required here is very easy as the majority of things are controlled and done by the supplier, not you.
Selling print-on-demand apparel
Apparels with printed quotes are trending nowadays. And the biggest advantage is you can make apparels of this kind very easily. It is a kind of home based business that requires very little investment. In this case too, you have to design the t-shirt and then you can hire a third-party firm who will manage the storage and delivery of the product.
There are several ways that would enable you to get clothes in bulk. That is one of the most efficient ways to get t-shirts. And after that you have to design several quotes and other things that you want to print on the apparels. First, you should have a sample of that to check whether it meets the required standards.
And if you are worried about designing these products, you can hire some great designers on platforms like Fiverr, Freelancer, Upwork, etc.
Write and sell your own book
Whenever someone talks about designing and selling a book, people think that they have to write some great novel like G. R. R. Martin but that is not the case. The categories that you can have in terms of books are enormous. You can design a book of pictures, photo books, cookbooks, etc. There are several other ways that you can try.
All you have to do is to find the right genre and then you can design it with the help of amazing tools. You can start this home based business on a print-on-demand basis. There are some nice platforms like Lulu Express and Blurb that would offer all the essentials for this business. You can design your books here, and even distribute the digital or the hard copies.
Work in growing an audience online
In this world full of online social media platforms, there are several ways you can take advantage. You can use platforms like YouTube, Facebook, Instagram to grab people’s attention. Once you succeed in getting a considerable number of audience, you can redirect them to any other platform that you want.
Suppose you start an online business, you can link that website to your Instagram, Facebook, or the YouTube page. Even if you are not starting anything, you can monetise your page on most of these platforms. That would provide you with enough opportunity to earn money online.
Start a home based craft business (Source)
Sell handcrafted goods
This idea will work the best for those who are creative enough to make things on their own. And there is a large number of people who DIY soaps, candles and several other household materials. This is a kind of home based business where you entirely control the design, development, and distribution of products.
This business would be a little different as compared to the ones that we have talked about above. In this case, you have to manage the distribution and storage of the things yourself. Setting up an Etsy shop is a great way to sell your handmade goods and make some extra money. It is also a great way to start an online business when you have no idea what you want to do, or if you are just starting out.
If you are interested in launching as a home based business and want to find out more about how it works, starting with handcrafts may be a good low cost start.
Become a virtual assistant
You’ve probably heard of virtual assistants, but what exactly is a virtual assistant? In the world of business and personal life, there are many different roles that can be filled by a virtual assistant. These include: answering machines (so that you don’t have to call people back), typing services (providing transcription services), copy/editing services (providing editing services), and even translation services (so that you can understand other languages while speaking English).
A virtual assistant is one of those jobs that would be useful in any situation: if someone needs to receive a letter within a certain time frame or you need to type up a report in another language.
Virtual assistants can also serve as an excellent way to increase your income without having to leave your home office. They can provide immediate value whenever needed, which means they don’t have to spend their time going out of their way to do so.
They’re also more cost-effective than full-time employees, who may not always be available when you need them. In short: virtual assistants are extremely versatile and flexible workforces and there are many ways for them to be used.
Become a service seller
This is another great idea about the business where you don’t have to worry about things like inventory management and storage. In this category, time is all that you have. If you possess some skill, you can use the online platforms to spread your knowledge.
People coming from different professions can embrace this home based business. If you are a good teacher, photographer, designer, you can do it. In the beginning, spare some time and when you start getting enough revenue, pursue it as a full-time carrier.
Making print-on-demand greeting cards, posters, etc.
If you are a creative person who is equally interested in photography and things like that, this would be an ultimate business for you. You can find several platforms on the internet that would help you design posters, greeting cards, etc.
You can start this business with a good office desk and a small printer. And once it grows, shift to a larger one. If you rely on the internet to find the designs, you should choose the ones that don’t have copyrights. In the case of distributing copyrighted content, you will fall into trouble.
Teach online classes
Online classes that are teaching people about arts and crafts are very high on demand nowadays. Due to the pandemic, a lot of things related to education have shifted online. If you are creative, you can try this one.
There are several platforms where you can launch your class. Additionally, you can use platforms like Pinterest and Instagram to upload short videos. That would help you bring more audience to your course.
Creation of digital products
There are several digital products that you can launch online these days. The biggest advantage of using these products is that you don’t have to worry about the manufacturing and storing of those items.
You can create music, templates, or even online courses. You can create an education video using your PC. Once you start creating these digital products, several online media can be used to offer those products to the customers.
Opt for a charitable business
You can start a non-profit charitable business to provide a sweet spot for your business in the market. This is a nice way to focus on the changes that you want to make in the world. Once you secure a good spot in the market, you can start something else.
In this case, you don’t have to worry about the customers as you have a large audience base from the beginning. Several surveys suggest that a large number of customers are attracted to those brands that work for a good cause.
Final thoughts
If you have a good idea for a home based business, you can do it yourself today.
We hope this article was helpful in giving you some nice home based business ideas that you can start. All the choices mentioned above require very little financial investment from your side.
There are many different ways to start a home business and each one is unique, and has its own set of challenges. There is no such thing as the right way to start a home based business, as everyone is different.
Many entrepreneurs make all the right decisions at the right time with the right resources, but they fail because they are not ready or do not have the time to follow through on their decisions.