A home based business is a business that is operated from the comfort of your own home. This can be done either online or offline.
In recent years, Business has gained a huge momentum and lot of people prefer home based business. The term is coined like home based business because you can earn income by working from your home itself. It saves both time and money. However, most of us wonder, are home based business really successful? do they really generate revenue? is it genuine or fake?
It is very obvious that all these questions will come to your mind. Therefore, we have selected 20 most successful and profitable home based businesses available today which requires less or no investment at all and the returns are unbelievable.
As the name states, try your hand at this in your leisure time. Freelancing has become a popular home based business, simply because it can earn you a good income.
There are different fields in freelancing and you can choose the one that suits you. The common ones are technology, data entry, writing, photography and a lot more. Also, the percentage returns vary from 30% -50%. All you need is a flair for the work you do and timely submission. The delivery time matters the most in freelancing projects.
For freelancing work you should try Fiverr, upwork and freelancer.com
2. Virtual assistant
You need to explore your talent, education and self-confidence to become a virtual assistant. As a virtual assistant, your primary job is to provide advice to clients sitting at remote location. It can be on any topic such as finance, economics, technology related etc. and you can do this work from your home itself.
You need to have a strong internet connectivity and build up a good rapport for yourself. The payments are high and you can be engaged with several clients based on your timings.
3. Drop-shipping business
Although this concept is not very new, but the business has gained momentum recently. In this you can act as a middle man between wholesaler and your customer i.e you will get orders and will pass that order to supplier. You will get commission for your work. It can be done online and at your home itself.
The profit depends on the number of items sold by you. You can create your online store on Shopify.com and can start dropshipping business today. This is most successful home based business which is available today and you can start this business without any investment.
4. Import Export business
The Import Export business is one of the profitable business and profit margins are really huge. The most important aspect of import export business is to find potential buyers in international market and same can be done with the help of a website and social media presense. Try to get orders online and then connect with local exporters or suppliers of that particular product.
5. Small online e-commerce store
E-commerce is so much in demand these days, that opening a small online e-commerce store can generate really good revenue. The profit margins can range from 40-60% based on the products you are selling.
There are so many options available here and you can start as small as a candle store to as big as clothing line. Ensure that you deliver high quality products to attract customers.
6. Blogging and affiliate marketing
Blogging has become a business in itself and why not when there are so many potential readers across the globe to read the blogs. It is also a source of income and most of it comes from advertisement. The more the number of visitors, the higher the money you are being paid for it.
Affiliate marketing is a field where you need to promote a product of a company online. Usually it can be through the click of a button or referring a friend. It takes time to make money in this business and you will get paid if anyone buys the product after visiting the website from your affiliate link.
7. Selling on amazon or e-bay
E-commerce giants such as amazon, e-bay or flipkart often needs sales person to sell their items online. You can register yourself in their sites and choose the product that you think can be sold by you.
You get a commission for every product sold. It depends on your skills and ability to earn an income.
If you are photographer or photography is your hobby, then make some bucks by selling your photograph. There are so many sites which pay handsomely for the photos you share. Most of the sites pay you if your photographs are brought by a customer. The prices are mostly high and at times a photograph may cost somewhere between Rs. 2000 -5000.
Also, you can enter the photography contests available online and the reward money is huge.
9. Event management and catering services
Event management is a really profitable business. It requires some investment to buy the materials, however the returns are high. You can tie up with a company to arrange a corporate event or plan a wedding. Apart from this you can also arrange catering services.
These days’ event managers are on demand and they charge 80k – 1lakhs rupees an event and catering services can range from 500-1500 rupees per plate.
10. Influencer marketing
As the name suggests, this is not for the mass but for a group of influential people who have the capability to promote and market any product or services. To become in influencer, you need to have solid online presense and followers. If you have 1 million twitter follower then you can make really good income out of it. Big brands will contact you to promote their products and you will get paid for it. Try to get followes on social media platforms and money will start rolling in automatically. This is perfect home based business available today and demand for influencer has grown manyfold.
11. Web development
Web development is both an art and a science. You need to be well versed in the technology used to design a website. There are several firms who are looking for such developers who can design a website for them. These days designing website in the market can earn you a minimum of $500.
12. Dog biscuit bakery
This is a real home based business and you can definitely earn some bucks from it. The raw materials used are quite cheap and the biscuits can be sold at higher prices.
Prepare some great bakery biscuits and you will have lot of buyers. A packet of bakery biscuits can cost somewhere between Rs. 50 -100. You can promote your business through Facebook, Twitter or even on Watsapp to gain significant customers.
13. Pet sitting
In today’s busy world although people love to own a pet, however they are busy travelling or at office most of the time. In these cases, the pets are often neglected. Therefore, pet sitting has become a business. You need to take care of the pets, feed them in their owner’s absence and the income is really good.
As compared to the investment the profit margins are usually double the cost invested.
14. Homemade bakery items
Who doesn’t love the yummy cookies, the delicious cakes or the crispy puffs. We all do and this lays the foundation for having a homemade bakery business. You need to showcase your cooking talent and sell your items to customers.
Be very careful about the quality of products being used. The business requires some initial investment but you can definitely have a profit margin of at least 10-15%.
15. Small scale manufacturing
Small scale manufacturing can include stuffs like candles, diyas, incense sticks etc. These are easy to make at home and can garner some customers for you for sure. Although the profit percentage may not be too high but it will definitely help you to supplement your income.
Over a period of time, you can establish a full-fledged business with these stuffs and can gain significantly.
16. Small food processing unit
Food processing units require lot of investment although the profit margins are high. To begin with, you can establish a small food processing unit such as the agro-based units. This can include dairy products, ice-cream parlor etc.
You need to have some networking to sell your stuffs and the word to mouth spread should be in favor of your products to attract customers.
17. Youtube videos
These days’ youtube is on the rise. However, do you know that you can earn from youtube videos as well. Yes, that’s right. You can post some content which is relevant and garners public interest. You need to get at least 10k likes for your videos to monetize.
It may sound difficult initially but the key to success is you need to upload videos continuously to grab the attention of the audience. Once set, you can earn life-long.
18. Pre-Nursery school
This is an ideal business and pre-nursery school can keep you engaged as well. You need some initial investment to buy stuffs and establish a school but then it is all about money.
Parents are very much interested in pre-nursery school for their kids to start learning. It is also important for them as they have the confidence that someone can take care of their kids in their absence.
Tutoring is a good business and moreover it is a way of imparting education. Therefore, it is considered to be a noble job. You can teach students at home or have an online tutorial along with videos. There are so many online courses available and the money usually comes from registering to these courses.
Therefore, if you really upload an easy to understand and knowledgeable video, you are sure to get more registrations for the course and in turn it will generate revenue.
20. Handmade crafts business
This business is very useful for kids and school going children. Crafts are always a part of their lesson and everyone tries to bring the best in school.
If you have the creativity, you can make these crafts and earn money. You can also open an art and craft center at your home itself and teach parents and kids how to make a good craft. Apart from that you can also make some handicrafts and sell them as well.
Home based business is a good idea as you earn a substantial income and you can work from your home itself. Moreover, the investments are less and profits are high. Therefore, as mentioned earlier explore the areas in which you think you can establish your business and then you are all set to go.
Some of the most common home based businesses are in the fields of consulting, computer services, tutoring, and daycare.
There are many benefits to running a home based business, including the ability to be your own boss, set your own hours, and work from the comfort of your own home. Additionally, home based businesses can be less expensive to start and operate than traditional businesses, and can provide a great deal of flexibility and autonomy.
Some challenges faced by home based businesses are lack of resources, limited access to markets, and difficulty in obtaining financing. Additionally, home based businesses may also have difficulty in hiring and retaining employees.
There is no one-size-fits-all answer to this question, as the best way to get started with a home based business depends on the specific business you are interested in starting. However, some tips on how to get started with a home based business include doing research on the best way to start your desired business, networking with other home based business owners, and finding resources and support systems to help you get started.
Some tips for successfully running a home based business include having a dedicated workspace, setting regular office hours, and creating a daily or weekly schedule. Additionally, it is important to stay organized and keep track of expenses. Finally, it is also helpful to connect with other home based business owners for support and advice.
There are many ways to market a home business. You can start by creating a website and using social media to promote your business. You can also use online directories and classifieds to get your business name out there. You can also distribute flyers and business cards in your local area.
There are several common mistakes made by home based business owners. One mistake is not having a dedicated workspace. This can lead to a lot of distractions and make it difficult to get work done. Another mistake is not having a clear business plan. This can make it difficult to track progress and make decisions about where to allocate resources. Finally, many home based business owners do not take advantage of tax breaks and other incentives that are available to them. This can lead to a significant amount of money being paid in taxes that could be used to grow the business.
There are a few things you can do to make your home based business more efficient:
1. Set up a dedicated workspace in your home. This will help you focus on work and avoid distractions.
2. Create a daily or weekly schedule and stick to it. This will help you stay on track and avoid procrastination.
3. Outsource some of your work. This will free up your time so you can focus on the most important tasks.
4. Invest in some productivity tools. There are many great tools available that can help you work more efficiently.
5. Take breaks when you need them. Don’t try to work all the time. Taking breaks will actually help you be more productive in the long run.
1. Use technology to your advantage by automating tasks whenever possible.
2. Outsource key tasks to freelancers or contractors to save on labour costs.
3. Keep your overhead costs low by working from home and avoiding unnecessary office expenses.
4. Use social media and other digital marketing tools to reach your target market without incurring high advertising costs.
5. Be mindful of your energy consumption and consider ways to reduce your monthly bills.
Some best practices for running a home based business include having a dedicated workspace, setting regular work hours, and creating a daily or weekly schedule. Additionally, it is important to keep good records, communicate with customers and clients regularly, and stay organized.