5 Low Capital Home-Based Business Ideas You Can Try

Home-Based Business Ideas You Can Try
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I’m certain that there are a lot of people who dream of having their own business. The idea of being able to work for yourself and having the freedom and flexibility to run it however you want has become an ultimate goal. There are different home-based business concepts out there that you can try. Its success will depend upon your skills and how well you can handle it.

Ideas You Can Try to Start Your Own Home-Based Business

1. Offer your expertise

If you are an expert at something and you’re confident with the knowledge that you have, why not try to offer your expertise to those who would like to learn. You can either do it online or set-up a space at your house if you could accommodate students. Here are some of the service-based business you can do at home:

  • Graphic design
  • Freelance writing
  • Culinary training
  • Tutoring different school subjects
  • Business coaching

2. Start a home-based printing business

This is a business I’ve always wanted to try since I’ve seen its earning potential. This is especially on demand during elections. There are a lot of high-quality heat press machines you can buy for a reasonable price to start this business. You can set it up at home and start advertising online to find potential clients. There are a wide variety of products you can sell and you can choose which one you’d like to focus on. You can print on and sell t-shirts, jackets, mugs, hats, bags, pouches, phone cases and so much more.

This is an ideal business for people who has a knack for graphic design but don’t worry if you don’t have the design skills as you can always hire someone who does.

3. Start a blog

If I haven’t been working in a digital marketing company, I wouldn’t have been able to see the earning potential of a blogger, heck I wouldn’t have known they get paid if it wasn’t for my line of work. Aside from the fact that you can earn from blogging, you can do so by writing about things you’re interested in. How cool is that?! Here are some ways you can earn money through blogging:

  • Affiliate marketing
  • Digital products
  • Sell advertisements
  • Google Adsense
  • Sponsored posts

4. Become a home-based reseller

I know a lot of people who buy products directly from suppliers in bulk orders and sell them for a higher price. They usually advertise through social media sites like Facebook by posting on their personal accounts, on group pages, and some even opt to avail Facebook Ads.

In some cases, you can start advertising products and require payment first for those who are interested before buying the product yourself. That way you can be safe from bogus buyers who pretend to be interested and order things but don’t really intend on purchasing it. This requires trust though so make sure you have positive feedback from previous customers as this can affect how trustworthy you are.

5. Sell homemade products

Do you like arts and crafts? Or maybe you’re really good at baking mouth-watering desserts? Then why not try selling homemade products? You can turn your hobby into a business and start monetizing it. One of the great things about this is that you’ll be able to lower overhead cost as you can do it yourself or ask help from family members for making larger quantities.

Create your own online store to post and sell your products or just use sites like Amazon or Lazada. You can even invite resellers and offer them a discount so they could sell it for a profit. This could be a good marketing strategy as there would be people who would advertise your products for you and increasing your brand awareness.

If you want to try out these home-based business ideas whether it be full-time or part-time, make sure to identify your skills and what exactly it is that you’re interested in. Starting a business just because it’s trendy and is not something you’re knowledgeable of or interested in will only waste the time, effort and money you invested. Think carefully and make a plan to strategize your approach. You wouldn’t want to launch a business with cold feet.

What other home-based business ideas do you have in mind? If you have anything else to share please do let us know by leaving a comment below.

Dana
Dana is the editor of Striving Millennial. She has a Bachelor's Degree in Banking and Finance. If she isn't busy writing new articles, you can find her whipping up scrumptious food or watching the latest anime releases. She is also a poet and a frustrated artist.

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