15 Profitable Home Business Ideas To Make Money From (2024)

Article by Muhammad Adeel Qayum Shaikh31 Jul, 2024

Home-based businesses are making waves for their flexibility and low costs. Did you know that half of all businesses start from home? From online tutoring to podcast editing to selling handmade crafts, there are plenty of home business ideas that you can explore.

Ahead, discover 15 ideas to start your home business, along with tips on how to make them successful on your entrepreneurship journey.

Best small business ideas to start from home

1. Start a dropshipping business

If you like the idea of running an online store, but you’re not sure what to sell, consider starting a dropshipping business from home. This is a home business idea with low startup costs.

Dropshipping is a type of ecommerce in which sellers don’t need to purchase or store the products they sell. Instead, sellers partner with dropshipping suppliers who manage the inventory and ship products directly to customers on the seller’s behalf.

The best part is that starting a dropshipping business from home is easy. With dropshipping apps like DSers, you can get started quickly. Just sign up for Shopify, install the DSers app, and search for products to add to your store.

2. Launch a print-on-demand company

Print on demand is a home business idea that doesn’t need you to buy or hold inventory.

You can put your branding and designs on white label products. When you make a sale, the print-on-demand company prints and ships the item to the customer.

You can sell many print-on-demand products: books, hats, backpacks, blankets, pillows, mugs, shoes, hoodies, phone cases, and more.

When it comes to niche selection, think about your target audience. From pet lovers to vegans to gamers, there are many niches you can create products for.

3. Teach online classes

If you have a teachable skill, why not make money sharing it? You can do this in person or through an online course. There are online audiences for almost any skill, whether it’s learning English, advanced marketing, or home maintenance tips.

For example, SkillShare offers video classes on various topics, like “How to Bake Artisan Bread” and “Basic Photography Skills.”

You can teach through a platform where you offer live or pre-recorded content. This route gives you the option to price live classes higher, while recorded sessions can be sold at a lower rate. You can also consider mentorship, master classes, or online tutoring if you enjoy teaching small groups.

Another option is to create a fully downloadable course, including video tutorials, templates, articles, or guides. Use a screen-recording tool to capture your lessons and start your online tutoring business.

4. Provide online services

If you don’t want to sell products online, consider selling a service. Service platforms might be simpler to set up than retail businesses, since you don’t need to manage inventory.

Leverage your talents to start a home service business. If your job contract allows, set up a website to sell your time and skills.

Monetize your DIY, technical, language, or musical abilities by offering assistance or lessons online. Popular service-based home business ideas include:

Freelance writing
Virtual assistance
Marketing
Design
Translation
SEO consulting
Web design and development
Graphic design

Service-based businesses also don’t require many clients to be profitable. A few high-quality clients can support you full-time while working from home.

5. Build an audience you can monetize

If you’ve always wanted to start a blog, YouTube channel, Instagram account, or podcast, you can turn that idea into a home business by growing and monetizing a following.

Start with sharing your passion online, whether it’s through writing, videos, or social media posts. You can also create a community around your content using platforms like Facebook groups, and eventually offer paid memberships or exclusive content.

Building a loyal audience takes patience, consistency, and focus. It’s not the easiest way to start a home business, especially short term, but if you grow a following around something you love, it can be incredibly fulfilling.

6. Start a subscription box business

Starting a subscription box can be a great business idea if you enjoy curating unique product selections. The online subscription box industry is expected to grow at an annual rate of 14% between 2024 and 2032. This growth means there’s a lot of potential for new subscription-based businesses.

You don’t just have to sell products; you can rent them too. Some companies rent items like clothes, allowing customers to use and return them. The items are then rented out to another customer, generating more revenue.

Consider bundling surplus products into subscription boxes to sell on your ecommerce site. This can help you make use of otherwise dead stock and generate consistent revenue.

7. Play video games

Did you know that video gaming can make you money? Platforms like Twitch let gamers turn their skills into cash through streaming and esports.

The esports industry alone is worth more than a billion dollars, and top Twitch streamers earn millions each year.

Get started by setting up a Twitch account and streaming your gameplay. Build your audience by engaging with viewers and providing entertaining content. Once you have a following, reach out to game developers for sponsorships.

Another way to make money is to become a Let’s Play streamer. Game developers will pay you to play their games and stream your reactions to your audience. You can also sell merch on Twitch to boost your income.

8. Launch a beauty brand

One of the most popular small business ideas is starting a health and beauty brand. You can work with a manufacturer to create your own cosmetics or brand white label products.

Look beyond current trends to find the next big thing in beauty. There are many dropshipping opportunities in this niche, like massage tools, smart mirrors, and spa day reservations.

You’ll also want to offer various purchasing and delivery options to meet customer expectations. Research shows customers value these conveniences and are likely to prefer brands that offer them.

9. Start an affiliate marketing business

Affiliate marketing is a home business model that involves promoting a brand’s products or services. You set up a website or social media profile to share links to the brand. Each time someone uses your link to buy something, you earn a commission.

Finding the best affiliate programs takes some research. You might choose to promote through Facebook posts, blogs, or YouTube channels, depending on your audience and content style.

10. Become a virtual event planner

The event planning business is no longer one where you need a physical office to meet clients and organize details. Now, you can plan, organize, and execute events virtually, from the comfort of your home.

The virtual events market is expected to grow 18.8% each year until 2030. That means there’ll be plenty of opportunities to offer your skills and expertise.

Think about the types of events you want to organize, like conferences, meetings, or webinars, and about their purpose, such as personal parties, professional workshops, or industry-specific shows.

Getting familiar with event platforms will help you manage and promote events more effectively. Use tools like Hopin and Whova to streamline your planning process and impress clients with seamless virtual experiences.

11. Sell on marketplaces

Facebook Marketplace, Amazon, and eBay are popular platforms for selling stuff from home.

Flipping items on these sites is one of the easiest businesses to start. Open an account, upload your listings, and set your prices. You’re ready to sell your first item.

While selling an item is easy, building a steady income can be tough. Promotion options are limited, and prices often lead to competition. Price wars with other sellers can cut into your profits.

12. Offer bookkeeping services

If you’re good with numbers, try starting an at-home bookkeeping business.

You can sell your services to small businesses and entrepreneurs. Consider working as a freelance bookkeeper for more flexibility and control over your rates.

Social media is a great way to promote your services. You can use platforms like TikTok and Instagram Reels to share accounting tips and information.

Pro tip: Set up a limited liability company to offer a professional service. Having an incorporated business will help build trust and protect your personal assets.

13. Offer therapy

If you want to be a licensed therapist, you can offer many popular treatments from home. You could do massage, acupuncture, or physiotherapy as a small business.

If you don’t have space for clients, you can visit them. Platforms like TaskRabbit connect users with service providers who come to their homes.

You’ll need to follow local regulations and professional guidelines. Stay updated with the latest techniques and trends to run a successful business.

14. Become a social media manager

Do you know TikTok inside and out? Are you a pro on YouTube? Consider starting a consulting business where you manage social media for companies.

Getting the first customer is often the hardest part of creating a service-based venture. You can increase your chances by letting your network know you offer social media services. Use forums, LinkedIn, and Instagram to showcase your skills.

You can also consider investing in subscriptions to some social media management tools. These make it easy to schedule posts and track campaign performance.

15. Edit podcasts

Many people and companies create podcasts to share ideas or promote their work. But they often lack the time or skill to edit their recordings.

If you can use basic editing tools, you can fill this need and work from home.

As a podcast editor, you’ll cut sections, remove coughs, and improve audio quality. With more experience, you can also offer photo and video editing services.

How to start a home business

Once you have an idea that fits your skills and experience, it’s time to build your new home business.

Starting a business can be challenging, but it doesn’t have to be overwhelming. Here are five basic steps to follow:

1. Brainstorm your own business idea

Brainstorming a unique business idea that gives you a competitive advantage is the first step to launching a home business.

Think critically about how you will position your business, whether you plan to pursue a new concept or choose a proven one.

Validate your business idea by presenting it to industry experts and friends. If they find it promising, you’re onto something great.

2. Write a business plan

A business plan gives structure and clarity to your idea. To create one, include details like:

A business overview
Your product or service offerings
Information about your target audience
An analysis of your competitors

Bonus: Use these templates to easily create your own business plan.

3. Incorporate your business

Select a business structure, apply for a business license, establish your legal entity, and make sure you have the right paperwork.

To ensure you’re setting up your home business’s entity correctly, you may consider talking to a small business attorney.

There are four main entities under which you can operate:

Sole proprietorship
LLC
Limited liability partnership
Corporation

Consulting with a lawyer can help you choose the best type and make filing paperwork easier.

4. Open a business bank account

Keeping your personal and business finances separate makes managing taxes simpler. There are many banks you can choose from, so shop around until you find the best fit.

At minimum, you should open the following:

A business checking account for revenue
A savings account to hold money
A business credit card for expenses

Talking to a professional can help. Find a local accountant to guide you in setting up your business accounts.

5. Start offering your products or services

Okay, now you can officially start your business. If you’re creating an ecommerce store, use a platform like Shopify to streamline the process.

Pros and cons of starting a home business

You can start and operate a home business from your personal residence. It can be a full-time job or a side hustle. Often, home businesses use online platforms to sell products and services.

Most home business models don’t need much infrastructure, so you won’t need to rent a space or hire employees. However, there are a few pros and cons to consider to see if this type of business is right for you.

Pros of running a home business

You can improve your work-life balance, which is great for parents or retirees wanting extra income.
Home businesses often have low costs, like no office rent or warehouse fees.
You might get tax breaks as a home business owner.
You can target local or international markets with ecommerce.
You can make it a family business, with your spouse or relatives helping out.

Cons of running a home business

You’ll need a dedicated space for work, storing equipment, or keeping inventory.
You must meet industry regulations, like food hygiene standards or getting permits.
Competing with large, established companies with access to more resources can be challenging.
Despite the freedom, working from home can be lonely.

Choosing the best home business idea for you

Everyone has different abilities and interests. So, choosing the best home business comes down to understanding your strengths and passions.

Can you turn your love for cooking into a business? Does your design expertise make you a sought-after freelancer? Use these insights to find the best business idea for you.

With technology making almost any business remote-friendly, you can find suppliers, hire employees, and promote your offerings to customers from home.

Home business ideas FAQ

What are some low-cost home business ideas?

Starting a home business doesn’t have to cost much. Here are a few inexpensive online business ideas:

Social media manager: Help businesses manage their social media accounts
Freelance photography: Offer photography services to clients, focusing on products or portraits.
YouTube channel: Share videos on a topic you love and make money through ads and sponsorships.
Online tutoring: Teach a language you are fluent in to students online.

How can I balance my home and work life?

The nature of a home-based business can make it difficult to balance home and work life. But you can set work hours, create a separate workspace, take regular breaks, and set boundaries with family to help manage it.

Can I run a profitable business part time from home?

Yes, many profitable business ideas can be run part time. Examples include selling handmade crafts online, providing pet-sitting services, or offering freelance graphic design.

How can I scale my home-based business?

To scale your home business, you may need to take several steps:

Hire freelancers or employees.
Expand your product or service offerings.
Consider new markets.
Invest in better tools.

Make sure to plan your growth strategy carefully to ensure your business thrives in the long run.