17 Home-Based Business Ideas (2024)

Summary

This video outlines 17 home-based business ideas, ranging from remote services to virtual education, that can be run from home with low start-up costs and high profit potential. The presenter, who operates multiple seven-figure businesses, shares insights and tips for success in various fields, including furniture flipping, e-commerce, and online courses. The summary emphasizes the accessibility and scalability of these ventures, catering to a wide audience looking to earn extra income or start a full-time business from the comfort of their home.

Takeaways

• 🏠 The video introduces 17 home-based business ideas that can be run from the comfort of one's home, with varying degrees of success and potential for profit.
• 🛠️ Number one on the list is a remote home service business, akin to dropshipping but for services like junk removal, cleaning, or lawn care, where contractors are hired to perform the actual work.
• 🛋️ The second business idea involves refurbishing and flipping furniture, where old furniture is bought, restored, and sold for a profit, with potential earnings ranging from $200 to $20,000 per month.
• 💼 The third suggestion is to start a virtual accounting business, capitalizing on the demand for accountants and leveraging local word of mouth and online presence for business.
• 🛍️ The fourth idea is to open a low-competition e-commerce store, focusing on niche products or gaps in the market to increase chances of success.
• 🎨 The fifth takeaway is about becoming an Etsy seller, which is a low-risk platform for selling handmade or personalized goods, with the median seller making about $500 a month.
• 💇‍♀️ Number six suggests starting an at-home hairdressing studio, which can be a lucrative business with the potential to earn six figures annually.
• ✍️ The seventh takeaway is about starting a niche blog or affiliate site, which can be a profitable venture if one is passionate about writing and targeting low-competition keywords.
• 🎓 The eighth idea is to start a YouTube channel, which can be a fast way to earn money through ads, affiliate links, and sponsorships, especially if one is comfortable on camera.
• 🎵 Number nine is about starting a music school from home, teaching music lessons and potentially earning a significant income with a step-by-step approach.
• 📚 The tenth business idea is to become a virtual bookkeeper, which requires organization and knowledge of financial software like QuickBooks, with the potential to earn over six figures annually.

Q & A

What are the key characteristics of the 17 home-based businesses mentioned in the video?

The 17 home-based businesses mentioned in the video are characterized by their potential for high success rates, the ability to generate significant income, and the flexibility to be run from home without the need for a physical storefront or office.

How does the remote home service business model work?

The remote home service business model functions similarly to dropshipping. You create a website for a service like junk removal or home cleaning, find contractors through platforms like Thumbtack or Craigslist, and when a customer orders a service, you dispatch one of your contractors to fulfill the job.

What is an example of a successful remote home service business in the junk removal industry?

An example of a successful remote home service business in the junk removal industry is the company 'LoadUp', which operates in multiple cities and allows customers to book junk removal services online, with contractors dispatched to complete the job.

How can someone start a furniture refurbishing or flipping business?

To start a furniture refurbishing or flipping business, one can purchase old furniture pieces from garage sales or flea markets, refurbish them at home by refinishing or staining, and then resell them on platforms like Craigslist, Facebook Marketplace, or OfferUp.

What are the potential earnings for a virtual accountant business?

The potential earnings for a virtual accountant business can range from making a comfortable living to generating millions of dollars a year, depending on the scale of the business and the services offered.

Why is starting a low-competition e-commerce store recommended in the script?

Starting a low-competition e-commerce store is recommended because it allows for easier entry into the market with a higher likelihood of success. Focusing on low competition keywords and niche products can lead to higher profits and less market saturation.

What is the average monthly income for a typical Etsy seller?

The median Etsy seller makes about $500 a month, although this can vary greatly depending on the products sold and the seller's marketing efforts.

How can someone start a home-based hairdressing studio?

To start a home-based hairdressing studio, one can set up a dedicated room in their home, offer services like haircuts and coloring, and charge clients directly without having to pay salon commissions. The potential earnings can reach six figures a year with a steady client base.

What are the benefits of starting a niche blog or affiliate site?

The benefits of starting a niche blog or affiliate site include the potential for passive income, the ability to monetize one's knowledge or passion, and the opportunity for scalability with minimal upfront costs.

How does the YouTube channel business model work in terms of monetization?

The YouTube channel business model works through ad revenue, which averages about $18 per thousand views. Additionally, creators can earn money through affiliate links in video descriptions, sponsorships, and coaching or selling products related to their niche.

What is the potential income for a virtual bookkeeping business?

The potential income for a virtual bookkeeping business can range from the national average of around $56,000 a year to well over six figures, depending on the scale of the business and the services offered.

What are the advantages of being a virtual personal trainer or nutritionist?

The advantages of being a virtual personal trainer or nutritionist include the ability to serve more clients without geographical limitations, the potential for higher earnings compared to in-person trainers, and the opportunity to offer personalized nutrition plans and workout programs.

How can one start a product photography business for e-commerce?

To start a product photography business for e-commerce, one can set up a home studio, offer services to e-commerce store owners, and market to clients nationwide. Services can include photographing products received in the mail and returning them after shooting.

What are the average hourly rates for different types of freelancers?

The average hourly rates for freelancers can vary widely: writers make $30 to $40, editors $25 to $35, programmers $60 to $70, general developers $50 to $60, mobile developers $55 to $60, web developers $50 to $60, graphic designers $40 to $45, and transcribers $20 to $25.

What is the potential income for a resume and cover letter writing business?

The potential income for a resume and cover letter writing business can be substantial, with top executive resume writers charging $750 to $2,000 per resume, and more affordable services ranging from $150 to $450 per resume.

What is the Software as a Service (SaaS) business model and its benefits?

The Software as a Service (SaaS) business model involves offering software solutions on a subscription basis. Benefits include high profit margins, typically around 90%, and the ability to generate recurring revenue from customers.

How can one start a virtual assistant business?

To start a virtual assistant business, one can begin by offering services such as phone answering and administrative tasks to clients. As the business grows, additional virtual assistants can be hired to expand the service offerings and client base.

What is the potential income for creating and selling online courses?

The potential income for creating and selling online courses can range from $100 per course to multiple thousands of dollars, depending on the expertise provided and the perceived value of the course content.