In a country where entrepreneurial spirits of people are at an all-time high, there are millions of people looking forward to starting some business from home. All thanks to the soaring costs of buying and renting a property exclusively for commercial use, using your home as the kick-off point for your dream business has become the best thing one can resort to.
Another superb advantage that entrepreneurs of this era enjoy is the popularity of the internet. At present, the internet has nearly 4 billion users across the world, and this number is only going to rise in future. So one can sell any product or service to a person living in any part of the world from anywhere on the planet by making use of the internet.
One need not spend gobs of money in locating his/her business in an expensive market, mall or commercial complex tobe popular or to sell his products or services to its potential customers.
Apart from the cost cutting, and appropriate utilization of the extra space in one’s house, there are plenty of other benefits that a home based business brings along. The best of them is one can run his/her enterprise from the comfort of one’s home.
For ambitious and talented women who cannot go out to work because they need to stay at home that they may take care of their child or any elderly family member, running a home based business is the best way to utilize their potential and fulfil their aspirations. These businesses are also quite well suited for retirees who have though retired from their full-time job, still wish to dream a new dream. Such people can take advantage of the spare time at hand to earn some extra money to add to their family income or save for future.
Well, this certainly does not mean that home-based business can or should be taken up only by non-working women or retired people. Anyone who visualizes an entrepreneur him can take the plunge.
Turning your business venture into a wonderfully remunerative enterprise just needs the right idea implemented with the correct approach.
Here is an extensive guide to the former aspect
Most Rewarding Home Based Business Ideas
1.Semi-Precious and Imitation Jewellery Store
Investment– 1 to 4 lakhs
ROI Period– 6 months
People these days are much more conscious about their looks and style sense than ever. Apart from carrying great outfits, they also want to don modern and trendy accessories. But most of them cannot afford to buy the expensive gold, diamond or silver jewelry now and then. Moreover, artificial and semi-precious jewelry is available in oodles of captivating styles, capable of catching everyone’s attention. These reasons have added to the popularity of imitation and semi-precious jewelry, making it a profitable home-based business venture.
Stock up some knick-knacks and sell them offline as well as online. Ensure good quality and price competitiveness with all your productsto expand your customer base rapidly. For that, you would need to connect with a reliable wholesaler who follows the same practice.
Pro Tip– Extend services of customization to your clients if needed by them. Some styling tips on which jewelry to buy, how to carry it better and use it in more than one ways can be a great value addition for your clients, especially females.
2.Trousseau Packing and Gift Packing Services
Investment– 1 to 2 lakhs
ROI Period– 6 months
This is an excellent home-based business option for creative people. So if you are the one who already knows the art of packing stuff, you can make a lot of money by utilizing this talent of yours.
If you are not trained at decorating and packing giveaways, no problem still! Some institutions are providing professional training in trousseau and gift packing. Can’t go out for classes too? Not to worry! There are gobs of tutorials for gift packing ideas on the internet, such as the following one, which you can start following to learn the art.
Apart from packing wedding trousseau, you can also take up packing gifts and return gifts for weddings, birthdays, anniversary, housewarming and other occasions.
Pro Tip– Starting with packing for a wedding in family or friend circle can be a good idea since for such tasks people prefer a close one who will take care of the trousseau items well.
Show your good work, and word of mouth will do the remaining. Opting for advertising to let the world know about your job is never a bad idea.
Investment– 20k to 2lakhs (depending on product range and scale of operations)
ROI– 1 to 6 months (depending on the investment)
Millions of Indian women are born with a knack for cooking but seldom do they think of or can exploit this skill for making money. In fact, not just women, many Indian men are also good at cooking but are hesitant to take it up as a profession, or haven’t yet thought about using their skill that way.
There are very many methods of cooking, most of which have been known since antiquity. These include baking, roasting, frying, grilling, barbecuing, smoking, boiling, steaming and braising.
Cooking business is a vast arena to explore, as there is so much one can do. Prepare lunch for office-goers who do not have ample time or skills to cook for themselves and treat them with home-cooked food. Take catering orders for small parties or kitties etc. Take orders for snacks or sweets. Deliver restaurant style food to people in nearby localities. Or go for making non-perishable foods such as sauces, jams, pickles, papads, etc.
Pro Tip– Hygiene is the most important factor when it comes to food. Make sure you maintain that! Advertise using conventional as well as modern methods to spread the word about your enterprise. Pack your foods in innovative ways to attract more clientele.
Investment– 10k to 50k
ROI Period– 1 to 3 months (depending on investment amount)
Most insurance companies are hiring freelance insurance agents these days. Therefore, becoming an insurance agent can be an excellent work from home option. Insurance companies pay a certain amount to the agent for selling the policy. Agents also receive a commission on further premiums paid by the insured.
Another reason which makes insurance agency a lucrative business option is the extensive range of insurance products available in the market to suit all sorts of risk. One can ask people to insure anything and everything, such as life, health, home, car, two-wheeler, jewelry, commercial property, electronics, et al.
To start a career as an insurance agent in India, one needs to be a graduate and qualify an exam conducted by IRDA. The person then becomes eligible to associate with multiple insurance companies as an insurance advisor or agent.
Pro Tip– Start with selling policies to people in your network and gradually expand the network to include referral contacts from your clients.
Investment– 40k to 60k
ROI Period– 6 to 8 months
This is another popular work from home business option for people who are good at some subjects or even one of them.
In an attempt to excel in their academics, most students these days take up private tuitions. One just needs to set up a classroom with some basic furniture and a black/whiteboard. You would need to buy some books or related study material too.
The students’ community get in coaching classes include guidance from the best brains in the field and use of technology, which helps in understanding the concepts better.
However, if you are not willing to transform a part of your house into a coaching institute, you can also opt for giving coaching online. There are many national and international virtual coaching institutes that employ freelance tutors.
You can even start online tutoring independently. Good subject knowledge, a computer/laptop and a smooth internet connection are the things you would need in that case.
Pro Tip– To begin with, advertises heavily using offline and online modes to mark your presence in the industry.
Investment– 1 to 4 lakhs (depending on your scale of operations)
ROI– 6 to 12 months (based on your investment)
Chocolate is a product which has perhaps never faced a littledemand, and the trend is most likely to continue in future. People like to gift chocolates, buy them as return gifts and for their consumption as well. Therefore, making and selling chocolates at your home is an top business option. There is nothing like it if you already know the art, but if you don’t, there is no need to lose heart.
There are thousand and one cookery classes in the country from where one can learn chocolate making. In fact, one can also do that sitting at home by watching tutorials such as the following one on YouTube.
You might need to buy some equipment to throw together a professional range of chocolates. Make sure to pack little delights into beautiful covers.
Pro Tip– Associate with nearby bakeries and snack bars to sell your products to more people. You can also look for such associations online, or even create your online portal to take orders from far-away places. Take orders for customized gift packs and bulk gift requirements to increase profits.
7.Ceramic Show Pieces and Handicrafts
Investment– 1 to 4 lakhs (depending on your scale of operation)
ROI period– 6 to 12 months (based on your investment)
Handicraft items, ceramic and non-ceramic show pieces are liked by all and are much in demand. If you are a skilled craftsman, this option can be a real money minting machine for you since authentic and fancy decorative items sell at a good price. Even if you do not know the art, you can always look for some truecraftsmen wanting to sell their products to a wider audience; the way Engrave is doing.
Most people buy them in right quantity when they are constructing a new house or renovating an existing one. So approaching them for sales should be a good idea.
Pro Tip– Such objects are in a real demand in foreign countries. Tying up with a vendor in some other country or selling to foreign buyers independently with the help of internet will be a great profit booster.
Investment– 1 to 3 lakhs
ROI Period– 4 to 8 months
For someone who has a good sense of style and interest in latest fashion trends, opening a fashion boutique at home will be a unique business option. While having the know-how of stitching and related skills can be a great advantage, one can always hire a tailor to get these chores done. Design customized dresses for your clients, stock some ready made outfits or go for both. There is a plenty of stuff you can buy from good wholesalers and earn sizable profits by selling them at a higher price. You can create a wide range of products which can include sarees, suits, shirts, kurtis, western outfits, men’s formal wear, casual t-shirts, winter wear, et al.
Pro Tip– Make sure you sell good quality products. Create an online store and pages on social media platforms to connect with potential buyers and keep them updated with your latest products.
9.Investment and Tax Consultancy
Investment– 20k to 1 lakh
ROI Period– 2 to 6 months
Those who possess subtle knowledge of accounting, income tax calculation, income tax filing, and financial investment, operating an investment and tax consultancy from home can be a fruitful business option. Retirees who have worked in the related field and still wish to continue their career can also exercise this option. Such consultancy has an enormous scope wherein one can cater to the accounting and financial assistance needs of individuals as well as small firms, to begin with.
Pro Tip– Some big enterprises are also outsourcing their accounting jobs, and the work can be taken up, in the beginning, itself if one is willing to create a team by connecting with individuals having required expertise or hire some staff.
10.Day Care and Pre-School for Toddlers
Investment– 2 to 4 lakhs
ROI Period– 1 year
Parents today are a lot more conscious about picking the right day care and pre-school for their little one than they ever were. Especially in families where both parents are working, and there is no one at home to take care of the child due to which the little one needs to be looked after by a day care. Such parents want the playschool as well the day care of their child to be spic and span, furnished will all ultra-modern facilities, providing healthy meals, maintained by friendly staff and capable of taking care of all the needs of their toddler.
Aspiring entrepreneurs who think that they are capable and willing to go ahead with this business idea can either establish their unit or take franchise of a brand already established well.
Pro Tip– When parents come across such a pre-school that lets them be assured about the healthy upbringing of their little one, they do not mind paying a good fee. So make sure not to compromise on quality and quantity of amenities and services to cut costs.
11.Growing and Selling Exotic Plants and Herbs
Investment– 70 to 90k
ROI– 6 to 8 months
Are you passionate about gardening? Why not make it your profession? Many people, including women and retirees, take up gardening as a hobby and maintain a lovely garden in their home. But rarely would they have imagined that it can be a source of real income as well.
Putting their knowledge of gardening to use, they can grow exotic plants, flowers, and herbs, etc. in their garden, terrace or even balcony and sell them to people desirous of buying such greens. Herbs such as oregano, parsley, mint, tulsi, and the like can also be sold in dried form.
Taking inspiration from Mr. Madan Gopal Kohli of Delhi, who is popularly known as Gardenwala, one can also organize exhibitions of rare and exotic plants and participate in flower shows.
Pro Tip– Carry out a detailed research about what herbs are in maximum demand and also sell for a good price to make huge profits from your venture. Create a blog and YouTube channel to connect with more people.
12.Home-Made Natural Beauty Products
Investment– 2.5 to 3 lakhs
ROI Period– 1 year
Disappointed by harmful effects of chemical-based beauty products, more people are now switching to natural ones. This has led to a significant rise in the demand for naturally made beauty products, making it an excellently remunerative home based business option.
To kick-start this venture, you need to buy some equipment and gain knowledge on how to make different types of natural items such as soap, shampoo, oil, cream, face pack, hair pack, moisturizer, face wash, etc.
You can learn how to make these products and much more with the help of videos such as the following one easily available on the internet.
Start preparing your products and sell them locally at beauty shops, grocery stores, departmental stores, etc. or create a brand of your own and tie up with bigger stores in prominent markets and malls.
Pro Tip– You can also sell these items online by creating your portal and advertising your products on social media or by listing yourself as a seller on a popular e-commerce portal.
ROI Period– 5 to 6 months
The travel agency is another profitable and easy-to-manage business that can be run from the comfort of one’s home. Convert a part of your house into an office-like setup so that people turning up for travel related queries or bookings can be entertained there. Much of the networking and booking can be done over the phone. Make use of the internet to consociate with potential clients. Understand the needs of your customers and suggest them packages that best satisfy their wanderlust.
Pro Tip– Theme based vacations such as beachside holidays, wildlife vacations, weekend getaways and the like are much in vogue. Design some unique packages to offer out-of-the-ordinary holiday experience to your clients.
Investment– 0 to 50k
ROI Period– 1 to 6 months
This is one of the best self-employment options for everyone who is proficient in any language. There are a plenty of websites such as Peopleperhour, Upwork, Elance, Freelancer and much more where freelance writers can find plenty of work. Thousands of content service providing companies also hires writers who can work from home for them. Associate with some of them or create your content writing firm and get started.
Pro Tip– One must work for only authentic people or companies as this industry is prone to frauds. People are getting the work done by writers and then dodging them when it is time to pay a general botheration faced by freelancers.
Investment– 40k to 1 lakh
ROI Period– 6 to 8 months
Many companies are availing services of recruitment agencies working independently instead of creating an in-house human resource department.
Understanding the human resource requirements of corporate and matching them with the skills of people looking for jobs is all that a recruitment agency is about. You will then be supposed to schedule an interview with the candidate with the employer. This business can be smoothly managed from home since it does not require any extensive setup. Most of the operations are to be conducted online.
Pro Tip– to expand your corporate client base, suggest them the candidates with the right skillset only.
Having known the most remunerative and doable home-based business options, you must now be having more clarity in your mind about which venture would best suit your talent and aspirations.
Make sure not to take your home-based venture for granted just because you are doing it from home. The time and hard work put in any business is the key to its popularity and profitability. Likewise, the amount of money you make from your home-based enterprise will depend on how much time and effort you are devoting to the project.