It’s never too late to turn your entrepreneurial dreams into reality, no matter your age, family/work situation or current savings. There are many profitable businesses that you can start from the comfort of your own home!
Certainly don’t get demotivated thinking about the large businesses in the market. The internet has given anyone with a laptop the ability to run a profitable business from home. Give it your best and you can make any business work. The opportunities are infinite if you put your mind to it.
Here are some cool and quick ideas of the most profitable businesses that you can start right from your home. The best bit; you don’t need a lot of money to invest! So, without further ado, let’s check these out.
Most Profitable Businesses to Start From Home:
- Bookkeeping and Tax Preparation
- Website and App Design
- Logo Designer/ Branding Consultant
- Skincare, Makeup and Hair Dressing dressing service
- YouTube Channel or Affiliate Marketing Blog
1. Bookkeeping and Tax Preparation
You don’t need any expensive equipment or fancy premises for starting a business serving bookkeeping and tax preparation services. The average rate for a quality tax preparer and bookkeeper is a very respectful salary that you can rely on. Every business needs someone to maintain their books in this age of stringent accounting.
Here is a free course on the Introduction to bookkeeping and accounting made available by Open.Edu. There’s also a vast amount of free resources on YouTube , such as this and this, which will run you through the basics of bookkeeping.
There is a lot of new cloud based bookkeeping software that will enable you to do pretty much everything from home. Xero, Quickbooks, and Sage are some of the most common platforms for bookkeeping here in the UK. Xero is particularly nice and is a personal favourite of mine. I started doing some bookkeeping services for small businesses last year. With absolutely no prior experience, I had learned how to use nearly all of what Xero had to offer and fluently manage the books of the small company I was working for within 4 weeks.
Furthermore, bookkeeping and tax preparation are great skills to learn because they will never go out of date. Accounting best practices and industry standards probably won’t change much over the next century. They will be updated every now and again but this is what makes it an interesting skill to learn. It’s one of the few profitable businesses that you can start from home and really scale up, with the added benefit of numerical skills that will translate well into other areas of your life/business.
Do note however, that you will have to be confident dealing with numbers as much of your work will be diligently keeping people’s finance’s and tax’s up to date. Remember, any and every business runs on the basis of trust and reputation. Don’t try your hands in business if you are not convinced of your skill or lack of efficiency. It will not only ruin your reputation but also affect others who relied on you. And when finance is involved, you may fall under any legal threat if any trouble occurs. (Just a warning though, please don’t let this put you off as bookkeeping/accounting really is a great skillset to possess).
2. Website and App Design
If you are a creative person and love design work, you can always opt for designing a website for your own clients. Creative and unique site designs are in high demand in the contemporary digital ecosystem. Most of the brick and mortar businesses are setting their mark on the digital forum because of the steady growth in reliance on the internet and booming eCommerce sales. If you want to leverage such a wide audience, bring out your creativity and start designing websites right from your home.
This doesn’t require much investment as all you need is a creative mindset and a computer set up with an internet connection. If you set a lower-than industry standard rate for designing websites, more customers will be allured to opt for your services. Then once you reach some popularity and client base, you can increase your rate.
Take advantage of YouTube and other free courses
To start, I would recommend heading straight to Youtube. Like in the bookkeeping section above, you really don’t need to pay any money to learn website design. There are thousands and thousands of hours of free video courses on how to design websites from scratch. I personally had absolutely no experience in designing websites and created the website that you’re reading this article on. I’ve also created a number of other websites for friends and family, following this tutorial. It’s a really nice and easy to follow tutorial that will help you set up a modern and contemporary website using WordPress. Many people are scared off by website design as they believe it is too complicated but it truly is much simpler than that thanks to WordPress themes that have user friendly “drag and drop” features. For a more in-depth tutorial, I would use this Beginners Web Design tutorial.
Considering your local market
You might contest that it is too late to start a web design in 2020 because there is too much competition and that most businesses probably already have a website. This is so far from the truth! If I were you, I would focus on my local market, finding local businesses with only a physical presence and help them get online. You can even upsell SEO and other marketing services whilst you’re there. The COVID-19 outbreak is teaching traditional brick-and-mortar stores that they need to recession-proof their businesses by being digital ready.
Onto app Design… this is where there is some serious money to be made, because the creation of apps hasn’t been marketed like website design has, e.g. drag and drop style App creation doesn’t exist to the same extent that it does for website design, meaning that you’ll have to learn some code… the positive a premium can be charged if you know how to build a productive App. As always, head straight to YouTube to find some free courses and most importantly do decide whether app design is a suitable business for you to start. I have been personally recommended this course by CodeWithChris.
Apps are still a thing
I can’t comment too much on the technicalities and complexities of App design as my experience goes as far as a few lines of code that I learnt at the age of 12 at school. However, what I can tell you is that there is a big gap in the market for LOCAL app design. Regarding objections, I’m aware that there are many, many website and app developers offering ‘cheap’ services on websites like Fiverr. HOWEVER, are serious companies really willing to spend a large sum of money to let an unknown, probably foreign company develop an important app for them? Some might, but I can guarantee that there are many companies out there that are willing to pay a premium for a local app developer to deliver the goods.
This of course requires good marketing (how the heck are you going to get clients to pay you basically), but once again, there is a plethora of amazing resources on SEO out there. On the topic of SEO, I really do believe there is a massive opportunity in local markets (I swear i’ve mentioned the word “local” at least 100 times in this article by now). But I’m serious! As the internet penetrates every corner of the planet and the world metaphorically “shrinks”, the amount of dodgy business and scams rises and the trust that households and companies possess falls. Anyway, on to idea 3 of the most profitable businesses to start from home…
3. Logo Designer/ Branding Consultant
The impact of COVID-19, as already mentioned, has reminded businesses that they need to be digital ready and readily offer something novel. A great way to reinvent a business is a simple rebranding process, starting with the company logo.
Start by leaning how to use adobe illustrator, a key piece of software in the logo design process. Adobe photoshop is also a very important software to learn if you’re serious about growing your logo design business. These tutorials are even logo focused and will give you a good indication if this is something you could work on.
Just like website designing, logo design service too can be started right at your home. Communicate with the clients to learn about their business ethos and reflect it in the logo. Perhaps they are releasing a new range of products or expanding their existing offering? What you really need to do if get on the phone with the Marketing Director (or whoever the businesses owner is if it’s a small business) and have a discovery call with them. This will consist of you having a number of questions planned out to literally learn everything you can about their business, including goals and ambitions.
Put yourself in the customers shoes
Logo designing is much more than being skilled on illustrator though. Nowadays businesses are interested in investing in quality design consultants who can assist them in achieving the optimum branding and customer facing value. For this, you don’t need to pay loads of money on learning adobe illustrator it’s still extremely important – but you sure need an active brain and a thorough understanding of business and marketing. Just creating a nice looking logo isn’t enough with all the competition on the likes of Fiverr. With sound business knowledge and acumen, you can start your logo/branding consultation service in no time (Don’t plagiarize!)
4. Skincare, Makeup and Hair Dressing Salon
The first true offline business in this article! (sort of)
In today’s social media filled world (and sadly quite a materialistic one), everyone wants to look beautiful 24/7.
If you have an expertise or passion in offering skincare services like facials, waxing etc. consider starting your beauty business right at your home. Begin building up your social media presence and use a free social media, like Hootsuite, to schedule posts to make sure you stay consistent! Get in touch with some small makeup brands and see if you can get samples of their products to test on yourself and your clients. Importantly, make your to educate yourself about various types of skins and use particular products effects on different skin sensitivities!
Your home salon could also offer makeup services. Nowadays, people don’t only go for makeup while attending an event but even for making YouTube videos. Leverage this opportunity. If you are a makeup lover and have a collection of various makeup products, why not make some money out of your skill! Start with the basics and as your business and skill grow, opt for bridal makeup. Also, invest in quality branded makeup products and accessories so as not to affect user experience.
Furthermore, if you have adequate experience and expertise in cutting hair, offer a hair dressing service at your home salon! . It really can be a profitable business that you can start from home, much due to the fact that you don’t need to spend time or money travelling and thus cut overheads to near zero. All it needs is some space, a chair, and a mirror!
As a side note, I’ve noticed that eyebrow threading and lip filling are two very popular trends. Keep up to date with the latest trends by following some of the biggest influences, like Kylie Jenner. We wrote an article about her rise to fame and marketing strategy that got her there. Read it here.
If you want to expand the service to more than a salon, you can give a spa therapy or massage as well. This will even enlarge your customer base and of course give the opportunity to up-sell and make more money.
If you want to truly expand the service… work out what your most popular products are and create you own brand of beauty goods. I will stop there or I could type for hours. If you’re intersted in E-commerce and expanding your business, check out our guide on how to set up a dropshipping store in a day here.
5. Affiliate Marketing
Affiliate marketing is one of the most profitable ways to earn some bucks at home. Here, you have to pick any company or product and get their affiliation coupon. Now, you curate some content, like the blog, YouTube series etc. and promote the products through that content. Now every time a reader or visitor clicks the product link and makes a purchase, you earn a commission. There’s no limit of earning through affiliate marketing but it’s all about driving traffic to the affiliates link. The more reach or audience you have, higher chances that people will purchase a product. And for each purchase, you can earn a commission.
We are working on creating a long formate post on how to start an affiliate marketing blog. It’s simply too long to include in this post, so stay tuned.
Here’s a bonus tip: No matter whichever business idea you are trying to implement, make sure you are posting consistently on your social platforms. In fact, you should create work-branded social media accounts on Facebook, Instagram, Twitter, LinkedIn, YouTube and TikTok (and more) to enhance your brand awareness and earn more visibility and leads. This will make more people aware of your business and purchase products. To help all of this, we highly recommend hoot-suite, a free social media management tool
Which of the most profitable businesses to start from home above do you like most? Let us know in the comments.