Whether you are a stay at home parent or you need something to supplement your income, saving on commuting costs and office spaces are compelling reasons to consider work from home businesses.
However, it starts with finding the right business idea that aligns with your interests and skillsets. To guide you in making an informed decision, we’ve gathered 10 lucrative home business ideas you can start today.
1. Content creation
The creators economy is reported to be valued at over $250 billion and is projected to surpass over $480 billion by 2027. Players in this industry include creatives who create original content, share it on their desired platforms and build a loyal community of audiences.
2. E-commerce
The value of the global online retail industry is expected to exceed $7 trillion dollars in 2025, showing prospects of its profitability. Retailing, selling handmade products or running a drop shipping business on platforms like Shopify are popular business ideas.
3. Affliate marketing
If you already have a blog or a social media page with a loyal community, you can earn extra income by partnering with brands to advertise their product or services. That way, you could potentially make some money when anyone clicks the linked products and makes a purchase.
4. Selling your expertise
If you have a talent for teaching with superior knowledge on certain topics, you can teach them virtually. You could either create educational digital products or organise periodic mentorship courses to monitise your expertise.
5. Freelancing
In recent times more people are switching from their full time jobs to pursuing freelance careers, because 60% of these freelancers are making more money than they did in their previous jobs. If you’re looking to make this switch, it would be best to leverage your already existing skillsets either on freelancing platforms like Upwork and Fiverr, or create your own service based websites.
6. Start a day care
Childcare is in demand and the market is currently valued at $60 billion. If you are good with children, offering local daycare service to parents in your area is a great way to rack in extra cash.
7. Airbnb management
The Airbnb industry is a goldmine and your role as a manager would typically involve managing property listings and bookings, providing customer support, as well as maintaining the property. All you need to do is research the industry nuances to get started right away.
8. Cleaning services
The global home cleaning services is set to increase to $10 billion dollars by 2026. With the hustle and bustle of 9-5, the working population are left with not enough time to get their spaces in order. Therefore, positioning yourself as an home cleaning service provider can be a profitable venture.
9. Professional photographer
If you find that getting the right angles when taking pictures for your friends is your superpower, you might want to earn from your knack for professional pictures. Take out time to improve your skillsets and build your photography portfolio because there’s a lot you earn in this sector.
10. Pet sitting
Monetise your love for pets by starting a pet daycare. Pets owners feel more at ease when their pets are in good hands when they have to be away. You can make a huge chunk of money by offering to watch their pets in your home for a fee.
We hope you find our suggestions helpful!