Some Awesome Home Business Ideas for 2021
Home businesses can be an equally exciting and rewarding alternative workstyle as the conventional way of having to go out into the crowd. With social distancing incorporated into the new normal of living, more people are drawn to remote jobs as a recourse not only for health and safety reasons, but also for the benefit of time versatility, convenience, and endless growth.
Managing your own business in the comfort of your home used to be an aspirational thought and a luxury to only a few, but with the advent of technology such as high-speed internet, e-commerce platforms, social media marketing, online resources, and specialized apps – people are discovering and thriving off modern forms of livelihood.
Now, picking a home business idea isn’t any easier than picking a program in a college or a job at a company. Just because you heard the news that Youtubers earn a decent amount of money, doesn’t mean you should do the same. And it also doesn’t mean that if you don’t know much about something, you should avoid it entirely. Choosing which home business idea fits you depends on two things:
- Your passion for the work – this means the amount of effort you are willing to put in the job and how much you actually enjoy doing it. If you don’t get many subscribers in the first week, or if sales are slow on your opening, how motivated are you to keep going?
- Your resources – Do you have time to accommodate multiple demands once business orders pick up? Do you have enough capital to purchase the necessary items? Do you have the technical competency to operate and produce?
Here, we’ll explore different work from home business ideas – what they are, how to do it, pros and cons – so that you can decide for yourself, which one is best for you.
Distribution and Retail Jobs from Home
One of the easiest and simplest forms of businesses is through retail and distribution. The key concept in the business is basically buying cheap and selling high – well, duh! The way you can get a discounted buy is by getting it in bulk. After this, you sell it at a reasonably higher unit price.
Investors love the idea of not having to go through the hassle and trouble of manufacturing the product, and instead only have to manage other aspects of business such as costing, inventory, and marketing.
You can start your consumer base with your family and friends and move ahead from there. Social media and e-commerce giants such as Amazon, Shopify, and Alibaba are readily and easily available to help you accommodate more potential clients and grow your business.
Craftwork and working From Home
If you got a gift of creativity and a knack for creating doohickeys and thingamajigs, you’d definitely want to be earning with those set of skills. Believe it or not, one of the most popular trends right now is creative and simple life hack objects that make people’s lives more organized, neater, and much more pleasing to the senses.
And don’t get the wrong impression of learning the traditional way of making these such as woodworking or knitting. The ‘modern’ take on projects like these could be something like utilizing 3D printers to manufacture the parts, bolts, faces, screws, or whatever. Or if you want, you can even print out a dense 3D busk of Iron Man’s Helmet.
Food & Beverages work from home ideas
If you find simple joy in seeing your concoctions take form and develop that special taste or find fulfillment in seeing other people enjoy your dishes, then managing a home restaurant is what you need to be doing.
Food trend is no different to fashion or to music: People are constantly looking for new stuff to delight the senses. Good for those just looking to start, there are many recipes available online to stir-up. You can start simple with easy bake pastries or maybe some homemade milk tea. If you want to level-up your skill, you can learn how to efficiently prepare full meals and bake exciting cakes.
It’s best to note that food and beverage products are depreciable items. And if you’re just starting out, over-producing and wasting ingredients can hurt big time. You always want to ensure proper planning in your food batches to make the most out of everything.
Vlogs & Streaming
Who knew you could get paid playing video games? Well, not your parents.
Streaming and making video logs used to be an activity done purely for fun, but now, industries and regular people have found ways to monetize the interest turning it into a modern breadwinning career with endless income potential. Like how our dads are so drawn to the NBA finals game on TV, but never even bother to actually shoot a hoop, younger generations take joy in watching their favorite streamers play their game on streaming sites such as Twitch and YouTube. There are tons of streaming platforms available for aspiring people to start building their audience.
If going live isn’t your thing and think your content could be better with a few cuts and edits, consider recording vlogs. YouTube is one of the most popular video hosting and streaming platforms where you could post your stuff for free.
Resource-wise, the business isn’t that demanding. Sure, you can opt to sink a fortune with high-end and signature brand recording equipment, but a simple camera and microphone would still do the job. The main thing to sell in the business is yourself – your character, humor, audience engagement. If you think you have what it takes to hook your viewers, then this is an opportunity you wouldn’t want to pass.
With this career, you can enjoy a variety of income sources such as viewer donation, system algorithm (the platform pays you based on how many people view or subscribe to your channel), sponsorship, advertisement, and promotions. The best part is you get to prove your parents wrong about how bad playing video games is because you will be making money working from home.
Teaching Online Courses from home
Cooking, car maintenance, fitness routines – there are countless numbers of skills people want to learn in the convenience of their own homes. With the hustle and bustle of today’s world, rarely do eager learners have time to physically attend a cooking classroom or have time to go to the studio and participate in a Pilates class.
Most would prefer learning through pre-recorded tutorials so that they can manage at their own pace and place.
Going live is a great option if you have the time that could match your audience’s available schedule. In this way, you get to interact better with your viewers, have their questions, get their feedback, and establish a loyal fan base.
Your income source can be from premium subscriptions or pay-per-video scheme.
Influencing & Promoting
Ever had that celebrity dream where you get to star on a commercial? With the widespread of digital information across millions of viewers and internet users, more and more companies are engaged now more than ever to team up with everyday people and help make aspirations come true.
If you’re planning to start, it’s normal to feel intimidated with all the big influencer names, and an overwhelming number of other aspirants, but just as with any other goal and business, you must start somewhere. Big influencers are where they are because of grit, perseverance, and commitment to serve their viewers and sponsors. Growing a huge following doesn’t happen overnight, and usually takes years for people and sponsors to trust you.
It’s also important to consider the risk when dealing with followers. Building a huge following takes a long time, but it can take a ridiculously short amount of time to lose them, as well as sponsors. As a public image, it is best to be sensitive and considerate with your thoughts and principles to foster a peaceful and fun community.
With all things considered, being an influencer has its perks. Companies offer great pay for advertising their products, apart from their freebies. You can also work as an agent for the company where you earn a commission based on sales that are channeled through your account.
Buying and selling used cars isn’t as simple as it sounds. On top of the high capital required to get you your first car to trade, you need expertise and tons of practical experience in dealing with cars and their parts to come up with a proper valuation, beat competitor price, and get the most out of a transaction.
Unfortunately, it’s going to take more effort than watching online tutorials and lessons about cars to actually be successful
in the business. Knowing how parts depreciate, the level of maintenance needed to preserve, and how thingamajigs should sound like are only some key information not found in your schoolbook.
Besides the technical aspect, you also have to deal with the human factor of the biz. Both supplier and customer ends are contrary to your goal which is to buy low and sell high. The art of negotiation is an essential tool to get the transaction in your favor.
But let’s say you ticked all the skills in the checklist, having a smooth-running car resale business has its rewards besides the income. Of course, you get to enjoy riding the cars while it’s for sale, so you have the benefit of taking something new every other day. You also have the option to provide car rental services while waiting for a deal.
Although car resale has a higher investment compared to other home business ideas, as well as a higher skill cap to manage – the business operation is quite simple and rewarding once you get past the initial steps.
Having a Home Business
Now, the idea of having a home business is quickly being adopted by just about everyone. Not only is it a great way to adapt to the new normal, but it’s one of the only ways you can genuinely impose your character and style to your livelihood. Identify key parameters about yourself, such as what you’re good at, what you’re interested in, and what you see yourself doing in the long term – and match that with the demand of your target market, like edgy fashion, trendy accessories, and in-demand skills – you’ll never see yourself working ever again.