There is a huge upside potential rebuilding auto parts, like transmissions. However, I have friends who have gone into this business and it can take years to nail down your production process, develop your customer base and start to reap the big money.
My father spent year after year remodeling our basement—and I’m glad he did because that’s where I located my model railroad! However, a lot of homeowners aren’t willing to invest the huge amount of time it takes a novice to remodel their basement—that’s where you come in! Remodel your own basement, put together a website with the before and after photos, and hang out your shingle!
Potential challenges: You are responsible for the safety of children, and you should plan for accidents to happen — that’s why insurance is crucial. This can also be a stressful business to operate, so the ability to handle or cope with stress is vital.
If you’re proficient in a highly specialized software, you can get paid to pass your knowledge on to amateurs and professionals looking to expand their skill sets. Technical manuals are available for programs like QuickBooks and Final Cut Pro, but these are often expensive and difficult for the average user to get through. Schedule small group workshops or private sessions, and charge by the hour for a full tutorial of the program. The best thing about this gig is that it can be done part time.
Please stop telling people they can start making logos, and certainly stop telling the people that do want to get into design to go to Fiverr. This is incredibly insulting to professional designers, and it is devaluing the profession and our work.
Saying no to anything that isn’t in your direct line of fire may be difficult to do at first, but can actually be one of the smartest business decisions you make in the long run. Even if it means firing your own customers. Why? Because it frees you up to focus on your target, it allows for more space and bandwidth to grow, and makes you available for the yes’s.
The question I’m asked the most (by far) when I meet and speak with fellow entrepreneurs is, “How do I know which business idea is best for me?” This one is always quickly followed by, “How do I start on this side business idea while I’m still working my full-time job?”
In my experience, one of the greatest challenges people face is deciding why they are starting a business, what they hope to accomplish and what they really want to do. Starting a business, particularly from home, sounds glamorous and free but, in reality, it can put a strain on home life if not done right. People I talk to often need help decision-making which is an essential quality in running a business.
While you’re not going to get rich completing digital offers, it is an excellent way to get some cash coming in and to supplement your other money making efforts. While I could write a post just on internet earning opportunities, here are just a few to check out.
Carrie H Johnson was divorced and living in a low-income housing when she started a cleaning business with friends, she explains on her website. She built it into a multimillion-dollar business with 165 employees.
If you’re tech savvy and understand the ins and outs of internet security, consider becoming a consultant for small businesses. Unlike the big boys, these companies can’t afford the huge security budgets, but they still want to be able to protect their internet customers.
Referrals and showcasing your work in an online gallery are two keys to gaining new clients. If you don’t have a lot of experience in photography but still want to pursue this business idea, try working as an assistant to a professional photographer to build up your resume.
I believe that every business, even a lemonade stand, should have a business plan. But many people either hesitate to create a plan or don’t know how to do it. That’s where you come in. But remember your big value added is to help your clients learn how to develop a framework for making critical strategic decisions for their business, not just to create a nice-looking document.
For example, if you are streaming video as part of your business, you are justified in buying faster internet. However, if you are mainly using the internet for browsing and email, there is no reason for you to get a higher speed internet package.
Jumpy YouTube videos of cats might be charming, but they don’t do much for business owners or parents of the bride who want quality video production. Video-editing and production services can tap into several markets—business presentation, wedding, parties, even documentary and feature films.
Mild spoiler alert: Viewers of the TV drama Orange Is the New Black might remember that the show’s main character made amends with one of her fellow prison inmates by making her a soothing lotion. Hopefully you won’t find yourself in prison, but if you find yourself wanting to start a home-based business, consider hand-making soaps and lotions yourself.
According to compensation survey administrator PayScale in 2010, the average income of small business owners varies widely depending upon their level of experience. For example, small business owners with less than one year of experience in running an organization earn an annual salary ranging from $34,392 to $75,076. Those with more than 10 years experience, on the other hand, earn upwards of $105,757 per year.
Do you love sports? Officiating non-professional games held at community parks and college sport fields can be an exciting way to turn your love for outdoor activities into a profitable side business idea you can engage on nights and weekends.
To make delivery affordable for the customer and efficient enough for you to make a decent profit, you may have to service a very limited area. You might start by approaching elderly residents in a housing complex, promising delivery just two days per week in order to process as many orders as you can at once.
Home health care services typically provide seniors with a wide range of assistance, including help with managing illnesses or injuries, administering medicine and treatment, and helping with basic daily tasks. A background in medicine, physical therapy, nursing or social work is a major plus, and it helps to have a high number of seniors living in your area.
EBay seems as ancient as a dinosaur in today’s fast-moving webiverse, but it’s still the top online auction marketplace, where users go to order collectibles, rare goods, and other items. Building a solid reputation on eBay can take some time, as most sales go to the power sellers who have established five-star ratings. Still, if you can acquire the goods no one else has, you can make a nice income reselling items on eBay.
You can provide full service grooming without any overhead by visiting pets at their homes. Or you can have a store front with full service grooming. Or you can provide a do-it-yourself pet grooming facility. Location matters. One do-it-yourself pet grooming facility was highly successful with a location on a busy road, but another location they had on a secondary road, just off the center of town, did not work out.
The average income of small business owners is also affected by gender. Males earn a median annual salary that far surpassed their female counterparts. Payscale’s report indicated that men who own small businesses earn a salary that ranges from $42,575 to $96,111. Women, on the other hand, only earn $31,380 to $71,140 every year.
This is an especially good idea for stay-at-home-parents who need to bring in some money. You’re already staying home with your kids: why not invite a few others to the party? Licensing for in-home daycare varies from state to state, but you will want to make sure you comply with your local regulations. Median salary: $19,300.
T-shirts can be a viable path toward creating an automated side business idea that makes money for you while you sleep. Even Bloomberg and Forbes feature stories from entrepreneurs who’ve done just that. Want to learn how to make this side business idea come to life? You can find TeeSpring selling walkthroughs here, here and here.
Bridal shows can be an important marketing venue for the purveyors of wedding goods and services. You could start in this business by helping vendors prepare their display spaces at various shows, and then at some point you may want to organize your own bridal shows.
Publishing is dead; long live the e-reader! Now that anyone can have their work e-published, it is possible for anyone to make a fortune off their writing. The biggest recent example is the 50 Shades of Grey trilogy, but there are many authors taking advantage of the ease of e-publishing. If you love to write and are willing to do your own promotion (and having a blog can really help in that case), writing an e-book is an excellent way to make money at home.
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.
We all love the moment in Antiques Roadshow when the owner learns how much their heirloom is worth. Becoming an antiques appraiser will allow you to live that moment every day. This does require a background education in the subject and access to an excellent reference library.
Fiverr.com takes a dollar of each $5 sale, so you might wonder how sellers make money. It’s all about the extra services. Many of the logo designers there keep it really simple for a basic sale (add a company name to a template), but offer extra services that can add $100 or more to an order.
On the other hand, if you want to market your own t-shirts you might have more upside potential but the downside is greater too! The brothers who started “Life is Good” t-shirt business for example, lived out of their van for several years until their business finally gained momentum.
This is very specialized and you need to have a good amount of expertise to get started. But what a fun way to make a living! Visiting clients’ homes, viewing and researching their art: what could be a more fun business than this?
About the author: Hal Shelton’s business planning skills were developed as a certified SCORE small business mentor, corporate executive, nonprofit board member, early-stage company investor, and author of The Secrets to Writing a Successful Business Plan: A Pro Shares a Step-By-Step Guide to Creating a Plan That Gets Results. Suggestions for additional topics are welcome: email Hal directly from his website: www.secretsofbusinessplans.com.
Investment: It’s a lower-cost alternative to starting a brick-and-mortar restaurant, as there’s less overhead, but you can still expect to shell out a decent amount of money to purchase a truck and cooking equipment.
For this reason, consider testing out your dishes on a smaller scale first, at a local farmer’s market or a food festival. You can get feedback from customers on your product before investing in a mobile operation.
From there, you need to learn which tools, resources, and feedback communities you can use to accelerate the pace at which you’re able to launch. Check out these 101 essential tools and resources I use to launch profitable side hustle businesses.
Expertise is another matter, but remember that writing can take many forms—from resumes to news articles to marketing materials and even thank-you notes. (You can even write for businesstown.com, although that gig doesn’t pay … yet.) There’s probably some form of writing you’re qualified to do. Plus, if you’re good enough with grammar and punctuation, companies will pay you to be a freelance editor. One friend made good money editing posts on a popular travel site.
Think blogging is no longer a viable source of income? Think again. Tens of thousands of bloggers (including yours truly) are creating profitable content on topics as diverse as scrapbooking, home cooking, travel, film, lifestyle, business, personal finance and more. And we’re growing our blogs into six-figure businesses thanks to a combination of email subscribers, affiliate marketing, blog sponsorships, and other revenue streams. Your first step with starting a blog is quickly getting the technical side of things handled (my free master course on blogging will show you how), and then both understanding what your audience craves and learning how to attract those readers online.
Do you play a musical instrument well enough to teach it to others? How about taking your skills at producing music or sound design and teaching others as a service-based business idea based on your experience? Private music instructors in all disciplines charge upwards of $20-100/hr (or more depending upon skill and experience), and you don’t necessarily have to do them in person, either. This makes for a great side business idea that can channel your passion for music into profits.
I recently started working in network marketing with a natural hair care line. It has transformed my life, by giving me my confidence back. I was losing my hair and I didn’t know what to do. I’d been to the Dr and told it wasn’t a thyroid issue, but they couldn’t tell me what WAS causing it. My good friend introduced me to these amazing products, that in a matter of months changed my life. My husband is now using the products for his “gaining face” (not receding hairline) issue. Lol.