A lot of business people are good at producing their product or delivering their service, but less good about keeping careful accounting records. That’s where you come in. You may visit a small business every week or two, pay bills, send out invoices and keep accounting records.
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.
Potential challenges: Depending on your location, you may need to get licensed. You may also face heavy competition from other local sitters and companies such as Rover, which connects dog owners to sitters and walkers. You’re also responsible for the safety and well-being of the furry ones.
Small businesses know they have to get online, but finding the time to figure out how is proving a real challenge for small business owners of every stripe. If you’re Internet-savvy and know how local businesses can harness the power of local search, coupon pages and social media, you could be working from home helping small business owners promote their companies online.
If you don’t mind parading yourself around in public places as a side business idea, and enjoy a little attention, then working as a human billboard can pay a surprising amount of dividends. Renting out your beard, for example can earn you as much as $5 a day while having a brand logo tattooed on your shaven head for five years could pay as much as $7,000—though this type of earning opportunity is admittedly rare. This business idea is definitely not for the faint of heart, and is a little extreme for me, but nonetheless it’s been done as a side hustle for many people. You can start by holding a placard or wearing a sandwich board. If you think this is a good side business idea, you can go all the way and turn it into a full on small business idea with enough hard work—plus you won’t have to deal with all the issues other more complex businesses have to constantly think about (like reducing churn).
To jumpstart a used car leasing service, I would approach used car dealers and get them to offer leasing instead of just car financing. This way the used car dealer can increase their chances of closing a sale and you can even offer to sell the car back to the used car dealer for a fixed attractive price at the end of the lease term.
Home buyers today are getting increasingly used to seeing vacant homes set up with staged furniture. And if you are choosing furniture specifically for the purpose of making a house look great, you can both increase the likelihood that the house will sell quickly, and that it will sell for a higher price. Stage some rooms in your own house, take pictures, and then get customers by networking with real estate brokers.
In the beginning, you’ll likely be doing everything yourself or shouldering the responsibilities with a co-founder. As your business grows, document all the daily, weekly and monthly procedures you follow–whether it’s setting up a Facebook ad campaign, scheduling a call or closing a sale–in a way that someone else can replicate.
There are plenty of platforms and places where you can sell furniture and home décor items. You can find old pieces at flea markets or second hand stores and add your own upgrades so that you can resell them for a profit.
If you keep your money hidden in the attic or earning close to nothing in a savings account, you might want to consider putting it to better use through smarter investing as your side business idea. Sure, there are plenty dangers to look out for, but most personal finance experts will advise you to start learning about the stock market if you want to grow your wealth, and to avoid jumping too heavily into trends like Bitcoin and other cryptocurrencies without proper understanding.
Find an audience for your passion or hobby and you’re all set to monetize something you love via a niche website as a side business idea. That of course, is easier said than done, something not intended for the faint of heart. Prepare to invest a lot of your time, but if you can hurdle the steep challenges and positively answer a few key questions on whether the website business idea you’re thinking about is profitable, then you can begin building it.
Videos are now becoming a popular way for businesses to promote their products on the internet. Videos can often get across a lot more information about a product than just text and images. If you know how to shoot and produce professional videos then you could charge businesses a fee for these services
Since I started blogging, I have seen the freelance market explode. There is a huge demand for content and so there are a lot of ways to make money writing it. Jonathan wrote a great article about a few legitimate work from home jobs – most of which were freelance writing.
One of the easiest ways to screw up your business accounting and possibly run afoul of the IRS is to commingle personal and business funds (and transactions). Using a business account for all business transactions eliminates that possibility.
Most home based businesses do not succeed. That is just the truth of the matter. There are a few new home based businesses every year that are really successful, however. All you can do is work hard and try your best.
I guess we should start with the one that I am MOST familiar with. I have been making a full-time living blogging for almost 10 years now, and it isn’t a get-rich-quick scheme, but it can definitely make you some money.
If you can create a regular audience for your podcast on a specific topic, this is a great way to get sponsors and fund this side business idea. My podcast, The Side Hustle Project is actually my current side business idea, and because I had an existing audience here on my blog at the time I launched the show, I was able to broker a $5,000 sponsorship from Freshbooks to place ads on the first ten episodes before I even got started.
There are plenty of charities and other organizations that use events or organized campaigns as a primary fundraising method. If you enjoy organizing events or other money making opportunities, you might be able to do so by creating a home-based business.
Wedding photographers command premium rates. After all, you are capturing one of a couple’s most important life moments, making it a very lucrative side business idea. Many professional wedding photographers charge between $2,500 – $10,000 (or more) to shoot a wedding, so it’s realistic that this side business idea could quickly blossom into becoming a full-time endeavor with the right happy clientele base that’s willing to refer you to their friends and family. Check out the Complete Wedding Photography Experience over on CreativeLive to get up to speed on everything you need to launch a successful wedding photography business.
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.
Remember, whatever business you decide to start you must have a passion for what you are doing. Without enthusiasm and excitement, you’ll become bored and unmotivated, and ultimately it will fail. Don’t just follow the money, remember to follow your heart.
Figure out if you can make this business profitable. How much will people pay for your services? Can you make a good income off this? Many people see astronomical numbers in their future until they take the time to determine their profits. Be sure to consider how much time you can reasonably commit to your business and how much profit you can get back for your time and investment money. In some cases, a great business idea in theory can in reality be unprofitable.
Search “tax preparation no experience” on job websites like Indeed.com. You’ll find plenty of companies willing to train you for jobs preparing tax returns (at least during tax season). Once you have a season under your belt, it’s time to strike out on your own.
Many families with kids, including single-parents, have very limited time resources, creating a demand for part-time child care providers (and a business idea opportunity for you). If you love kids and have some spare time, you can earn plenty of side income by looking after children while their parents are away. Just be sure to identify the particular age group you’re comfortable caring for and you’re all set after any necessary certifications. Establishing a home-based daycare center capable of servicing six or more kids is also a lucrative way to really expand upon this business idea if you have the right environment for it.
Part of the immediate profitability came from the way we hired. Instead of taking on full-time employees, it was quicker and more cost effective to find talented freelancers. This took a lot of the risk off of our shoulders and also connected us to talent around the world.
Some people have no time. They may have a job that requires lots of travel or an executive position that has them working around the clock. But you can make their life easier offering personal concierge services!
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.