no image

5 home business ideas that can help you make good money

April 21, 2013 Business Thinking,Ideas

The looming economic crunch coupled with the latest yearly per capita earning reports show that things are not improving. If anything things are not going to improve for the foreseeable future.  Now you can either sit and wait for your finances to improve or you can do something about it. Starting your own home business is a great way to close your financial gap. Whether you chose to work full or part time it is important that you find something to do which you are passionate about and helps you make some extra cash. There has never been a better time to setup your own home based business.

Even though we have not outlined an exhaustive list of ideas below our goal with the list is to put forth some of the most lucrative and common ones.

Collectables and Antiques dealing

If you’ve had a coin collection, stamp collection or a banknote collection then you know enough to deal in antiques and collectables. It would be even more lucrative if this is your hobby. Websites like eBay make it easier for antiques and collectables dealers to reach their target market. You can house all the collectables and antiques you sell at home. Simply, snap pictures and upload them to eBay. You’ll be able to easily make a few dollars from each sale regardless of if you sell baseball cards or your action figure collection. The older and more valuable the item is the more money you’ll obviously make.

Childcare business

A home business that specializes in looking after kids is very lucrative. In order to be successful you should love kids. This means having lots of patience and energy. However, in order to look after kids for the entire day you may need to be registered as a child care specialist. Find out what the rules and requirements are in your region. Generally speaking you shouldn’t have a criminal record, open your doors to safety checks and have adequate medical facilities.

Computer troubleshooting specialist

Even though computers have become a major part of our lives there are some that still find it complicated. People often get confused and find it near impossible to fix computer errors. Things like installing windows, troubleshooting the registry etc. are all things that you can get paid well for. A home based business that fixes computer hardware and software issues will always do well so as long as you treat your computers with respect.

Teaching and hosting foreign students

As far as businesses go this one is relatively hassle free. You can rent out your spare rooms to foreign students and teach them about the local culture. Since, foreign students will not stick around for a long time the chances of them getting on your nerves are slim. In the case they do get on your nerves you can always evict them. You can also charge them extra to teach English or simply show them around the city when you have the time.

Laundry and ironing services

You do not need thousands of dollars for this home business. You can also work at your own pace. In cash strapped times ironing someone else’s laundry or washing their clothes can help you make a good income. However, because this job is relatively simple and you do not have to get a license to do it the competition is heating up. Many people are offering this service for a few dollars with their kids operating it out of their basement. But depending on your location you can still end up putting a few hundred dollars a week into your savings account. There is also good potential that this business will grow depending on how well things go.

 Conclusion

When you want to start your home business there are certain things you should consider. You should consider the time you can allot each day towards your business. It is also a good idea to draft a business plan if you want the business to grow out of its humble beginnings in your home. You should also do some research to find out if the home based business you are considering is worth your while. Once you know these variables it is easy to start and continue to run a business that turns a profit.

About the Author: Manu is a SEO Analyst and Freelance Content Writer. He is currently a content writer for Melbourne based Home Based Business – Career Coach for over 5 years.