If you’re ready to work from home and grow your own business, now is the perfect time to start. Now that remote work has officially staked its claim as the “new norm,” there have never been more opportunities for solopreneurs to start lucrative home-based businesses.
But why exactly should you start a home-based business? For one, with commuting hassles nixed and overhead costs shrunk significantly, you can ensure every second of your valuable time is spent wisely. Additionally, unlike starting a brick-and-mortar business, launching a home-based business isn’t a hotbed for risk and lofty start-up costs. You can finally strike that expert balance between work and life and lean into the flexible work schedule you’ve always wanted.
If the benefits of starting a home-based business have won you over, it’s time to hit the drawing board. While many of the businesses below can be highly profitable, you need to pick the one that suits your skill set and situation. Not sure what home-based business ideas are worth your consideration? Take a look at the most profitable ideas turning heads in 2022.
Digital tools for the home-based business owner
But before you peer into the most lucrative home-based business opportunities, you’ll need to stock up on the bare essentials for any home-based business owner.
Digital tools can help you run your home-based business efficiently and professionally. Team management software helps you keep everyone on the same page, while video chat apps with screen sharing features let you have face-to-face meetings. Cloud storage apps are essential for employees to communicate effectively even when thousands of miles separate your MVPs.
One home-based business essential you can’t leave off your list is a virtual business address from a trusted provider like iPostal1. These professional alternatives to home addresses impersonating as brick-and-mortar business locations will ensure your home’s security isn’t in jeopardy. This virtual business address technology also will allow you to break into new markets as your home-based business grows.
Freelancing
Freelancing is still one of the most popular jobs for working from home. There are currently over 57 million freelancers in the U.S. alone, and that number could increase by 10 million in the next several years.
Freelancing is popular because you can find work tailored to your skillset. While writing, graphic design, and web development are among the most common types of freelancing, there’s a freelance job for almost any skillset.
eBook publishing
eBooks are another growing industry, especially on Amazon. You can publish an eBook on just about anything. If you can tap into a hot market, you can do well. Even if you’re not a great writer, you can still be successful in publishing eBooks. To lighten the workload involved, you can hire freelancers to assume responsibility for the writing, illustration, and formatting.
Video and sound editing
Videos and podcasts are among the most popular forms of content right now. Even if you don’t want to make your own videos or podcasts yourself, you can tap into your network and find professionals hoping to make it in these mediums. Once you’ve made connections, you can offer your services to edit the video and sound and start raking in the cash.
Affiliate marketing
Affiliate marketing is still one of the most fruitful types of home-based business. You can start a blog or YouTube channel, review or suggest products, and make money every time someone makes a purchase. While the field is competitive, there are still profitable niches.
Consulting or teaching
If you have a lot of knowledge about a particular industry, there’s a good chance there are people who’ll pay for you to share that knowledge. You can start a personal consulting business or create an online class–whichever your budget and calendar allows.
Retail arbitrage
Retail arbitrage allows you to make money while you shop. You simply find items (either in person or online) that are priced below market value. You then sell them for a higher price and keep the profit. When working with in-demand and hard-to-find items, you can turn quite a profit.
House cleaning
While it may not seem as glamorous as other home-based businesses, a house/business cleaning business can be quite lucrative. People are always looking for reliable cleaning services.
As your business grows, you can run it from home, and you won’t be the one having to clean. You’ll just be responsible for hiring and scheduling.
Parting shot
2022 is a great year to start your home-based business. Whether you’re ready to quit your day job or you simply need some extra income, you may be surprised at how far you can get in a short time.
