Legitimate & Profitable Business Ideas
With an increasing desire for many to escape the rat race and work from home, many people are trying to start a home-based business.
Working from home not only offers independence and freedom but there are also some great home-based business tax deductions as well.
We put together a list of legitimate home-based business opportunities below.
But they are just ideas – hopefully they will spark some inspiration, but you have to apply all the diligence and hard work to turn it into something.
1. Child Care Services
If you enjoy working with children, you can start a home-based daycare center. According to the U.S. Bureau of Labor Statistics, self-employment opportunities in this easy-to-enter industry are among the best in the current economy.
Before making the leap, find out about your state’s regulations and insurance requirements. The National Resource Center for Health and Safety in Child Care and Early Education provides helpful information on its website. Aside from insurance, licensing fees, and advertising, you’ll need enough startup capital to buy things like play equipment, toys, and educational supplies — and don’t forget to get CPR and first aid certified. If you set up your business as a nonprofit, you’ll have better access to grants.
2. Senior Care Services
A growing population of senior citizens means big opportunity for nonmedical home care providers, who help seniors with tasks of daily living. The services you offer might include transportation, house cleaning, dietary assistance, bathing, administering medicines, and, perhaps most important, companionship.
Before getting started, do your research. Find out how many seniors are in your area and what types of services they need. Contact local and state government agencies to learn about the regulations governing senior care businesses in your area.
Americans’ love affair with desserts — the cuter and tinier, the better — seems to have kicked in to overdrive. If you’ve got a knack for making delectable desserts, consider starting a home-based bakery. You can offer your desserts for delivery or pickup, parties, and sell them from stores and online.
4. Craft Business
In a world of mass-produced junk, shoppers feel good about buying handmade, one-of-a-kind items. Turn your creativity and talent into a business by selling jewelry, ceramics, unique décor, purses, metalwork — the sky’s the limit! You can sell your crafts on your own website or on sites such as Etsy, and at craft fairs and local events.
Some items sell better than others, so do your research. Look on eBay and crafters’ sites, and check out home shopping channels, such as HSN or QVC, to see what types of crafts are selling. Next, think about how much it will cost you to make each product, in time, materials, and other overhead. Make sure you charge a high enough price to make a profit.
5. Cleaning Service
Cleaning services are particularly recession-proof. Both residential and commercial cleaning operations can easily be run from home, but which you decide to start may depend on your resources. Commercial cleaning, for example, often requires commercial equipment, as well as a staff to clean big spaces. If you have less startup capital and are thinking of a solo operation, cleaning homes and smaller offices will be your best bet.
6. Carpet Cleaning Service
A variation on cleaning, carpet and upholstery cleaning services are especially recession-resistant. Few people are willing to let their carpets get dirty, and even fewer have the equipment or skills to clean their own carpets. That’s where you come in.
First, make sure you have the experience. The Institute of Inspection, Cleaning and Restoration offers certification courses. Depending on the types of services you’re going to offer, you’ll need a range of equipment and supplies. If you’re low on startup capital, consider buying used equipment in the beginning, as well as purchasing a portable extractor to clean carpets instead of a truck-mounted unit, which can be costly.
If you have experience cutting hair and giving manicures, opening up shop from your home is an excellent way to start your own salon. Make sure that you follow all of your state’s requirements for doing salon care in a home, as they can be stringent.
8. Interior Designer.
While you do not need a degree or certification in order to set out an interior designer shingle, it is really necessary in order to make sure you can meet the needs of many clients. An education in the history and theory of design will allow you to understand trends that you may not like, but your clients do.
9. Web Design
In today’s tech-savvy world, more and more businesses and organizations are realizing that DIY websites or—gasp—no website at all just won’t cut it. And now that mobile Internet usage has officially overtaken desktop usage, the do-it-yourselfers are having a hard time designing websites that are smartphone compatible.
If you’ve got what it takes, Web design can make for a satisfying career. But the road isn’t easy: You’ll need to be able to market your skills effectively to stand out. Network as much as possible. You can start a blog, speak at local events, and learn from others in your field. You’ll also need to have the skills to complete complex projects and the personality to please demanding customers.
10. Tax Preparation.
No one likes doing taxes, and they need to be paid whether the economy is booming or tanking. This is why at-home tax preparation can be a great business for anyone with a tax background, or anyone willing to take training courses. Since there are annual changes to the tax code, you will need to refresh your training each year, and you will also need to register with the IRS as a tax preparer. This is more of a seasonal business than a year-round endeavor, but it can be a great way to earn some extra income each winter/spring.