Profitable Home Based Business Ideas 2023
Home based businesses are a growing interest among us. There are many ways for you to earn a good income from home based businesses, rather than going out for a day job. This guide covers some of the best profitable home based business ideas which you can choose and grow with time.
Here are the Profitable Home Based Business Ideas:
- Online Selling
- Tutoring / Freelance Consultant
- Home Bakery
- Event Planning
- Online Freelancing
- Grow Your Own Audience
- Book Publishing
- Sports Coaching and Training
- Research Expert
- Elderly Caretaker (Caregivers)
- Pet Sitting
- Catering Service
- Car Resale
- Rent a Room or Annex
- Insurance Sales
- Tour Planning (Tour Guide)
- Bookkeeping / Accounting / Billing Service
- Courier Service
- Food Delivery Service
- Housekeeping / Cleaning
- House / Office Mover
- Software Development
- Real Estate Agent
- Interior Design
1. Online Sell
Retail business is transformed now with the growing demand for online selling. Many eCommerce websites in the world facilitates sellers to sell their products to the buyers online. According to Statista estimates, by 2025 retail e-commerce revenue in the United States will increase to 563.4 billion dollars. Following are some of the methods which you can use to start online selling e-commerce business,
- Dropshipping / Reselling
Dropshipping is a trending online reselling business practice where the manufacturer ships the product to the consumer on behalf of the retailer. Retailer acts as the middle man to sell the goods to the buyer with a profit margin and place the order with the manufacturer on-behalf of the buyer. Retailer can enjoy zero inventory cost.
As an example, you can start your eCommerce website, or else join an existing eCommerce platform (such as eBay, etsy) as a seller. You have to choose a niche and do the product analysis to identify what products you should start selling. You can then secure a supplier to manufacture and ship the products to the customer. As you are selling more, you will get the experience of choosing the products with more profit margin.
- Drop Service
Drop servicing is where you sell a service to a customer for price (e.g. $200) and hire someone to perform the service on behalf of you for the client at a lower price (e.g. $150). The difference is the profit for you. Customer will not know that you have hired someone else to do the service. Effective virtual team management skills are essential for this business.
- Sell your own products
You can create your product and start selling online.
Here are some products to make and sell online from home: bed sheets, pillows, pillow covers, gift baskets, candles, sweets, soap, bath bombs, t-shirts, home decor products, incense sticks, incense holders, aprons.
2. Tutoring / Freelance Consultant
Tutoring is a very easy home based business idea to start. A teaching degree or any specialized training is not a requirement to be a tutor. Knowledge of the particular subject matter with a clear explanation ability is enough to start.
There are various ways to do tutoring. You can visit the student’s place, or have group/individual classes in your home, or else you can tutor using online video conferencing as well. The most popular subjects to teach are music, art/paintings, dancing, math, physical science, English, languages, speaking skills.
You can be a freelance consultant if you have specialized knowledge of a subject with practical experience. There are various subject streams to consult such as software consultant, business consultant, digital marketing consultant, system consultant, technical consultant, etc.
You can easily exchange your photography skills to various income sources, whether as a full-time job or an additional side job. Following are some ways to earn a good income from photography skill,
- Sell your stock photos / videos online – You can sell your stock photos with various websites such as shutterstock, istockphoto, alamy, dreamstime, and gettyimage.
- Print your photos and sell them through gallery shops – You can print your photos and sell those to others.
- Sell your photos at gallery events in your city – You can search about local events in your city and sell your photos at those events. This is a great way to establish a loyal customer base and also be visible to your community as a professional photographer.
- Sell your photos to magazines – You can sell your photos to magazines such as Dodho Magazine, F-Stop Magazine, Harper’s Magazine, Noice Magazine, and Lucy’s Magazine.
- Make your website and store and sell your photos – you can start your website and store once you establish your name in the community as a professional photographer. You can sell your stock photos using your website, and also you can sell prints in your store.
- Offer event photography services – even photography is a very reliable service with good profit. You can offer your event photography services as various packages to your customers.
- Teach photography expertise to others – you can sell your experience as a course or tuition class to a potential customer base. You can start your youtube channel and upload photography content to this. Also, you can partnership with course providers such as udamy to create photography lessons to earn a good income.
- Sell photography equipment – You can also start a photography equipment selling business with the reputation and customer base you have obtained. Photography equipment such as cameras, flashers, lenses, batteries, backdrops, and lighting can be sold with good profit margins.
4. Home Bakery
Starting home backing is a good business idea if you enjoy baking. You can make cakes, cookies, muffins, bread, biscuits, cupcakes, pastries, and other bakery products. If you are creative, you can think and bake your innovative products. You can also partner with local fast food shops to produce products for them to sell in their shops. You can further extend your business to have a food truck and sell your bakery products in your food truck. Make sure to check your state’s occupational or health department regarding the regulations and laws set for home-baked food.
5. Event Planning
Event planning is one of the best businesses that you can do if you have good organizing, communication, networking, multitasking, and negotiation skills. You can start with volunteer planning events for your friends. The more you plan events, you will get more experience and a good customer base for future events.
6. Online Freelancing
Freelancers can work for themselves managing their time with other commitments, rather than working for a company. Freelancers are not considered as employees by the companies and they are considered as contractors.
Online freelancing is a growing business in today’s world. You will have independence, freedom, the flexibility of working at your place, and control of workload in doing freelance work.
Leading freelancing websites are: Fiverr, Freelancer, Toptal, Simply Hired, Upwork, PeoplePerHour, and 99Designs.
7. Grow Your Own Audience
You can grow your audience using social media and streaming platforms such as Youtube, Facebook, and Instagram. Social media content can be created for your audience to demonstrate your skills, your interest, or any other topic that your audience is interested in.
It is possible to earn income from your content on display advertisements, product endorsements (affiliate marketing), and get traffic to your website.
This is the best home business idea if you are an artist who can draw beautiful paintings. You can join local communities that are interested in paintings. Participate in local events will bring you networking with interesting parties to buy your paintings. You can also use social media such as Facebook and Instagram to share your drawings with the potential audience. Also, you can consider teaching your painting lessions to others as a side income.
9. Book Publishing
This is one of the best passive income home business ideas if you are a creative writer with some subject matter knowledge. You have to invest your time and low cost to write and publish a book. Online book publishing is also a good business. Amazon, IngramSpark, Kobo, and iBook are some online book publishing platforms available.
10. Sports Coaching and Training
This will be a good business to start if you are into sports. Sports coaches earn a good income by sharing their expertise with students. Most coaches are required to have a bachelor’s degree to be a college or professional coach. There are many learning subjects to learn as a sports coach such as sports science, physiology, nutrition, physical education, or sports medicine.
11. Research Expert
Research experts are a niche business idea if you have good analytical skills. They contribute to businesses with information and knowledge needed for problem-solving and decision-making. Research experts should gather information from various sources, analyze them, summarize them and present those as the outcome of the research.
12. Elderly Caretaker (Caregivers)
Caretaker (caregiver) is most suitable for people who are kind-hearted with good patience skills. Caretakers/caregivers provide care to people who need help taking care of themselves. Small children, elderly people, disabled people, and patients are the ones who need support from a caregiver.
13. Pet Sitting
Pet sitting is to take care of another person’s pet for a temporary time frame. You can easily do this business if you love pets. Pet sitters provide daily care for pets while their owners are on vacation. Most owners preferred if the pet caretaker stays in their own house so the pets can remain in their familiar territory.
14. Catering Service
This is one of the best business ideas if you can cook well and enjoy cooking. People mostly get support from a catering service for social events. The quality of the food can heavily contribute to the success of your event, hence investing in a catering company is the best way out.
15. Car Resale
Are you interested in cars? If “Yes”, this will be a good business idea for you. You can search and buy cars and resell those with a profit margin. You have to know about the prices of the cars, document verification, and mechanical checking to do this business successfully. Also, you should check your state’s laws before starting your business. As an example in Florida US State, a vehicle cannot be legally sold in a private sale if there is an existing lien.
16. Rent a Room or Annex
You can earn additional income if you have excess room or annex in your house. Online homestay platforms such as Airbnb are a good option to consider. Make sure to check about your state laws and other regulations in your jurisdiction regarding home rental services.
17. Insurance Sales
You can become an insurance sales agent who works remotely in your house. You have to assist and identify the needs of the customers and sell insurance plans and products to them. Insurance companies usually pay a certain percentage-based commission to the agent.
18. Tour Planning (Tour Guide)
You can start a tour planning business or work as an independent tour guide. Good networking with the parties such as flight ticketing companies is essential to get to know about the visitors who are visiting your country/state. You have to provide the service to help them throughout their tour as a guide and plan their tour to ensure visitors’ satisfaction.
19. Bookkeeping / Accounting / Billing Service
Most companies tend to outsource their bookkeeping, accounting, and billing services to third parties now. This will be a good business idea if you already know this subject with some experience. You can start your own company by providing these services for the corporates who want to outsource these. Also, you can do the same by acting as an independent consultant.
20. Courier Service
You will get income for the packages you deliver from one location to another. All you need is to have a suitable vehicle and a mobile phone to start your courier service. It’s a simple business to start and progress, without much capital investment.
21. Food Delivery Service
A food delivery partnering business is a business that you can start very easily. You have to partner with a food ordering platform, have a suitable vehicle and mobile device to start the business operation. Uber Eats, Grubhub, and DoorDash are some popular food delivery platforms available in the United States.
22. Housekeeping / Cleaning
Housekeeping is a demanded service in any country. The majority of people need residential maid services, carpet cleaners, curtain cleaners, and other types of cleaning services in their houses. Corporates also need this service to keep their office premises clean and tidy.
23. House / Office Mover
House or office mover companies offer a full line of goods packing and goods moving across locations. You should have a suitable vehicle to support moving the goods and also a team of people for the support. This is a business model which you can easily start, establish, and move on.
24. Software Development
Software development is a highly profitable business. It will be easy to start this business if you have background knowledge of programming. If not, you can easily obtain the knowledge from various sites freely or at a lower level of cost. This business model requires specialist skills so that it is not easy to start this business and grow.
25. Real Estate Agent
Real estate agents obtain good income from the broker commission they obtain. These agents should have good knowledge of the state laws, regulations, and pricing of real estate. Some states require real estate agents to obtain a license.
26. Interior Design
Interior designing requires to have creative skills. This will be a good business model for you if you are creative and innovative having a passion for interior design. Interior designers help their clients to enhance the elegance of the interior of their houses or business location. They help to achieve a more pleasing environment for the people while thinking about factors such as health.
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