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Many people give up on their faulty laptops, mobile phones, or cameras without even looking into the cause of their malfunctions. If you have the skills to fix them, consider pursuing this side business idea of refurbishing and reselling used electronics in your free time.
This session will review the do’s and don’ts of operating a home-based business and will also state the case for not quitting your job at all. Keep in mind that operating from home still requires business skills just like any other business. And it will be important to gain understanding in all the other sessions contained in the My Own Business Institute course(s) as well.
You can start as a personal trainer at a local gym. Then try going out on your own. Being known for a particular expertise can help. Then someday you can open your own gym. Maybe even franchise it and go global!
People who own fish, lizards, snakes or any other animals that live in tanks or aquariums are likely to need some maintenance services at some point. If that’s the type of work you enjoy, you can provide those services in people’s homes or place of business.
Online platforms like eBay and Etsy have made it simple to start a business selling vintage clothing and similar goods. You can shop for those items online, scour thrift stores, or just sell items you already own.
Some local businesses don’t want to go through all of the necessary steps to do their inbound marketing themselves. They would rather have you just do it all for them and deliver leads to their doorstep. If you go into this business I would suggest that you consider building your expertise for a particular industry, instead of a particular location, as the results for a particular industry are more likely to be repeatable.
Especially if you have lots of in-depth specialized experience and industry contacts, consulting can be a great business. The consultants I have seen who have been most successful tend to move into consulting late in their careers and had well-established reputations, niche expertise, and lots of contacts, and didn’t mind working alone. Through my book business, I also got to know a number of consultants who I believe switched from a corporate job to independent consulting a little too early in their career. They hadn’t developed a really deep niche, didn’t have enough contacts, or just weren’t happy working alone.
Though certainly not for everyone, recycling the containers from products left strewn around on the ground can become a surprisingly decent side business idea if you put in the time. Attending events like street fairs and outdoor concerts can be a great starting place. Put on a clean shirt, jeans, apply your sunscreen, grab a cheap pick-up tool like this one, sturdy plastic bags, and you can sell them for upwards of $4.00/pound on eBay.
This is one of those businesses that not everyone wants to do, so the profits tend to be above average. Furthermore, you don’t have to collect just by telephone. You can send emails, mail letters and more. Make sure you know all the legal restrictions before you start!
Graphic Designer: Use your training and creative skills to create logos, images, sales brochures, business cards, advertisements, packaging and more from your home. You will need a computer and relevant software. Target small businesses, individuals or companies and assist them with their marketing.
Early childhood learning seems to be the rage. Even many games have an educational bent. With such high interest this is a competitive space, so you need to specialize. Perhaps specialize in children with learning disabilities, slow learners, creative play, or “gifted” kids.
Selling “how to” information is a great business idea. Not only are you profiting from a passion or a skill that you already have, it’s incredibly low cost. Just purchase a website, start creating top notch content, and maybe invest in some ads. Since this is a competitive area, focus on a niche that isn’t frequently discussed.
Do you love to paint, sculpt, or draw? Then you can use your creative talents to earn a living from home. Check out sites like AQUENT to apply for creative projects and jobs. Have a creative personality? Here are some more creative business ideas that you can use to generate income from home.
So, you have the entrepreneurial spirit but not a lot of tech know-how? Despite all of the high-tech startups that have popped up in recent years, there are still plenty of small business options out there that don’t require you to know the difference between CSS and QR codes. Below are low tech business ideas you can start this year.
Purchasing and installing a stair lift is a major decision for a mobility impaired customer. Offering excellent service including carefully presenting the best alternatives and being quickly available for follow-up service can help make your stair lift business stand out from the competition and build positive word of mouth.
Valentine’s day. Birthdays. Weddings. The list goes on and on—throughout the course of a year, there are dozens of occasions when people need to order flowers. What’s more is that once you’re up to speed with this business idea, your costs can stay relatively low if you know where to source your flowers, and typical margins are in the neighborhood of 300% (or more) on cut flowers which makes this a particularly profitable side business idea in the right geographic area. Check out this amazing interview with floral designer, Sara Tedford of Ladybird Poppy to hear about how her floral design company started out as a side business idea of doing weddings and events for her friends and family.
You can make a room in your house into a photography studio, but you’ve got to get out to promote your services or do some clever marketing. Doing photography for groups (typically at their location) is one way to get going. Another is to develop a specialty (such as children’s portraits).
My cousin worked for a jet ski rental firm in Sarasota Florida. Was that a fun job! Problem was that now and then when people panic on a jet ski, they will run it right into another boat! So, try to avoid renting jet skis in a busy boat anchorage and make sure your customers are confident operators before you set them loose!
All you need is one dog to walk and you’ve broken into this business. And at the same time, I have seen people build this into a big business, including to the point where they have to hire additional dog walkers. Dogs need to be walked regularly—just ask them! Woof! Woof! Yes! So, you’re guaranteed a steady income and a good business model!
To even qualify for the contest, his company had to have a business selling between $1 million to $50 million; an achievement in itself. Yet Allen and his co-founder Cathryn Lavery–along with the other contest winners–managed to grow their gross merchandise volume by an additional 500 percent throughout the contest.
Relative to the earnings you need and the risk you are willing to take with your money. If you want long term “safe” investment and earn for a nice 5% annually, then you’ll be needing x 20 of what you want to annually earn as your starting capital. If you aim to become a day trading and risk your capital, you could aim for X,XXX % in profit annually, and then you need a much smaller starting point.
There are thousands of online users who work from home and make an internet living creating YouTube videos. In fact, PewDiePie, YouTube’s most famous online celeb, makes millions a year with his wildly ridiculous videogame playthroughs.
While there are all kinds of training that corporations will pay for, I am focusing on sales training because the demand is so widespread. It is an absolutely critical function, even for small businesses. If you don’t have great contacts at larger companies I would suggest you target smaller firms, such as those with sales forces of 6 to 20 people. Small enough so that everyone isn’t trying to sell them training, but large enough that they are likely to be willing to pay for it.
E-books have made self-publishing a real income-generating option for writers who previously may have had trouble partnering with big-name publishers. If you have in-depth knowledge about a specific topic, crafting a well-written, informative e-book and selling it online can be a great way to supplement your regular income.
Cloud hosting allows businesses to store their data in the cloud and access it from anywhere. Cloud hosting is often very secure and is great for businesses to keep their data secure. Many cloud hosting business offer reseller programs and some even allow for your own branding. You could work with businesses to get them set-up with cloud hosting and ensure their business documents are secure.
Go to the IRS’s website and apply for an Employer Identification Number (EIN) for your business using Form SS-4. The IRS also allows business owners to apply by phone (1-800-829-4933), by fax (859-669-5760) or by mail (Internal Revenue Service; Attn: EIN Operation, Cincinnati, OH, 45999).
Assess your financing needs. While starting a business from home can be more affordable than starting a traditional business, you will still need money to get started. As you form your home business idea, think about how much money you will need to buy inventory, buy your production equipment, or cover any other initial costs. If you don’t have a lot in savings, you can also get a business loan to get started, but this would mean qualifying for and then subsequently being responsible for a loan, which can be difficult for a new business. Consider your financing options carefully as you set up your home business.
If you plan to operate a business in an area that is zoned “residential,” you need to become familiar with the zoning ordinances. Certain business activities are prohibited completely in residential areas. For example, operating a website design company is likely to be permitted, but an auto repair shop may be prohibited.
Elderly people often need help with basic functions like laundry, grocery shopping and getting to and from appointments. You can offer your services as a home care provider to help them take care of some of those tasks on a regular basis.
If you are a top seller and have years of experience under your belt, going independent as a manufacturer’s representative may be your ticket to sales success. If you like to sell and yearn to be out on your own, the life of a manufacturer’s representative, also known as an independent sales rep may be for you. Experienced salespeople tell us being a manufacturer’s representative is the graduate level of selling, offering potentially higher earnings and freedom from company politics.
Of course, you can try your hand at building homes and other large endeavors or you can specialize in smaller projects. Maybe driveways? Patios? Outside waterfalls? Closet renovations? There is no limit to what you can do, but to be highly successful or to build a scalable business I suggest you carefully find a highly profitable niche.
Allen Brouwer, co-founder of Best Self Co. and one of the eight winners of Shopify’s recent Build a Bigger Business contest, did exactly that, winning mentoring from the likes of Tony Robbins, Tim Ferriss, Daymond John and other business luminaries.
Online, you can be an affiliate which sells almost any service or product the internet has to offer. In fact, Amazon has an affiliate program which allows you to sell everything from Amazon’s huge stock. Popular industries that have high potential, but also somewhat high competitiveness include: Financial Products, Dietary Supplements, Gambling and Commerce.
This is a good solid business. Everyone needs their house inspected before they buy it. Network with real estate agents. Become known for being a meticulous home inspector. Leave you clients with a thorough, detailed report.
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Christmas, Halloween, Easter, Yuletide, Hanukkah, Valentine’s Day, Chinese New Year, 4th of July, Mother’s Day. There are a ton of traditional holidays that count as solid reasons to explore the side business idea of crafting and selling seasonal decorations. After all, people and businesses pay good money for them. In fact, total sales of Christmas trees in the U.S. alone amounted to a whopping $1.04 billion in 2014. And you still have holiday lights, nativity scenes, crafted hangings, baskets, wreaths, and other decorations to cover, making this a potentially year-round seasonal side business idea.
Entrepreneur.com reports the startup costs of freelance bartending at “under $2,000.” But you can keep it under $100 if you start with clients who have the necessary equipment or by bartending for parties where expectations are minimal. Entrepreneur.com says you can make “up to $300 per day when you tally up your wages and tips.”
Software: If you haven’t already, invest in the latest version of Microsoft Office. This is the most common business software on the market today, so chances are you’ll have no trouble reading or editing files and documents clients send to you and vice versa.