July 19th, 2021
Having a stay-at-home business is a great way to earn a living without leaving your house and to turn your small business idea into a reality. Whether you want to start a side hustle or it's time for a shift from your current day job, working from home is the answer for many people.
But having a home-based business isn't always a perfect scenario. Like every job, working from home has its pros and cons. And not everyone has a situation or home life conducive to working without leaving every day.
The benefits of a home business include:
· Most businesses can be started with low overhead cost
· Flexibility
· Control of your schedule and all aspects of your business
· Work-life balance easier
· Option of having friends and family work with you as your small business grows
The drawbacks of a home business include:
· Finding space in your home to run your business
· Need to comply with regulations in your area related to operating a small business
· Need to move outside of your home when your business expands beyond your current space
· Loneliness
· Lack of variety in day-to-day life
Despite the downside of operating a small business out of your home, many people decide it's the best option for them and choose to move forward with their plans. Some people even decide to work from home even before they know what type of business they want to run. Most people have a home business idea and move forward from there. However, with an at-home business, people decide to work from home. Then they look for a business to start.
Nine Options You Have for Running an At-Home Business Include:
- Buying Products in Bulk and Reselling Them for a Higher Price
This is sometimes called retail arbitrage, but not all people who practice retail arbitrage buy in bulk. When you purchase items in bulk, you're able to get a discount and focus on one or just a few products. You don't have to constantly search for items to sell.
You can build a relationship with a bulk seller and buy what you need all from the comfort of your own home. The key to success is to find a product people want, show potential buyers what you're offering with quality photographs, and offer it to them at a reasonable price that still allows you to turn a profit.
2. Make and Sell Products Online
If you're a crafty person, you can sell what you make in an online business. Many people turn a passion or hobby they have into a job by selling what they make to other people. Etsy.com is a great option for selling handcrafted items, but it's not your only option.
The important thing to remember with this type of home-based business is that you don't sell yourself short concerning your labor. Set your price as high as need to ensure you are compensated fairly for your time.
A few handmade products you can make and sell include:
· Candles
· Jewelry
· Home décor
· Food
· Art
· Clothing
3. Launch a Dropshipping Store
Dropshipping makes you the "middle man." A third-party manufacturer creates a product and ships the item to customers who buy from you. The great thing about drop shipping is that you don't need to worry about storing materials or merchandise. Your focus is marketing and customer service.
4. Start a Print-on-Demand Company
If you've got a lot of clever ideas or said, "that would make a great t-shirt!" this option might be right for you. In this business, you create designs that are printed on-demand. It means when a client buys the product based on your design, it's printed and shipped to them. It is like drop shipping but allows you to be creative.
5. Operate an Online Service Business
Have you ever thought about selling your services? It is a great way to make extra money from home. You can transcribe notes, be a grant writer, do some blogging, answer phone calls, or just about anything else companies need help doing. One of the best opportunities to work from home is Social Owl. With this product, you’re able to sell your social media marketing services to other businesses using your own marketing and branding.
6. Teach a Language Online
A few companies are looking for people who speak English as their first language who can teach their language to kids in other parts of the world. There are also other class options available. If you have a skill or consider yourself an expert at something, you can create a class and teach people virtually how to do these things.
7. Build an Audience and Become an Influencer
If you already have a big following on social media, you can turn your "fans" and "friends" into customers. It's also possible to start building your audience now and monetize it later. There are many ways to earn extra income once you have a strong following, so focus on growing our audience and then research products you can sell to them or how you can market to them on behalf of other companies.
Many people in this area enjoy the income potential.
8. Offer a Subscription Enrollment
It is a lot like selling products online, but you're getting an ongoing commitment from customers. They don't just buy one thing from you - they subscribe to your service and receive products quarterly or monthly. It's a great way to share your hobby or passion with other people and generate passive income
9. Sell Your Thrift Finds
If you love buying second-hand, you aren't alone. People love to unearth treasures, but they might not be able to keep what they find. Remember, there are probably people all over the world who would be excited to own what you've found while thrifting. Selling items on eBay, Facebook Marketplace, and other sites is a great way to turn your thrift finds into cash.
Sites such as socialowl.com can help you start your own home-based business selling social media marketing. They are easy to use and do most of the hard work of a business startup for you so that you can stay focused on your main objective- driving an income.
There are endless ways to have a stay-at-home business, so it's important to consider what's you're going to enjoy and what's going to work based on your circumstances. Over time, you can try more than one business or alter your initial home-based business idea to include more options as you grow.