Starting a business at home while working fulltime is a smart strategy that can help you turn your dream of financial independence into reality.
If you possess specific skills or are a specialist in a profession, you can work at your own pace to build a side hustle that does not require additional investment or elaborate equipment.
Five business ideas that you can start at home
Here are five business ideas that you can start at home while you work fulltime:
Blogging can be not only a viable income source but also a profitable one. While there are celebrity bloggers who earn as much as $14,000,000, there are many successful bloggers who earn upwards of $40,000.
The revenue sources include affiliate marketing, advertisements, sale of own products and guest posts. Choose a niche topic and ensure you regularly create content that helps build your online reputation while boosting the number of visitors to your site.
If you love to write and have certain skills or information to share, writing an eBook may be a great business idea while you work full time. As you can work at your own pace, you can transfer your thoughts and skills on to a downloadable eBook which delivers in terms of imparting a skill.
You can utilize your abilities and knowledge by offering an online course. Udemy, the largest online tutorial and learning platform, features a course on “How to Create an Awesome Online Course” where Miguel Hernandez, the educator, explains how he is able to make $90,000 in a year with his online tutorial.
Airbnb hosts make $924 a month on an average while some hosts can make as much as $10,000 per month. Although the earnings depend on the location of the vacation rental home, the facilities and services offered, listing your spare bedroom or your second home on Airbnb can help you earn passive income while you work full time.
If you already have a considerable number of followers on your Instagram account, you may be approached by gear companies, major brands and other businesses that sell services or products related to the content you post on Instagram.
With some marketing skills, apart from having thousands of followers, it is possible to charge $500 to $5,000 or more per post.
While these ideas depend on your professional interests and skills, it is important to understand that professions that provide services or advice to customers, can be fraught with a number of risks including mistakes, delays, omissions or breach of contract.
While these may not be intentional, even as a home-based business you are still liable for lawsuits and claims. To protect your home based business consider, Professional liability insurance which protects you by covering the expenses involved in defending against lawsuits, judgements and settlements.