Omni Resources Client Newsletter: 30 Ideas for Small Businesses that Make Money
The days of searching print ads for a job to make a living are over. In today’s environment, the internet is at your fingertips, making it easier than ever for small businesses that make money to start. In fact, setting up two streams of income can be a simple task.
People no longer have to commute to the same building for work every day. Employees can log in remotely from virtually anywhere on the globe and work successfully. This means that anyone has the opportunity to make a steady income from wherever they are. All you need is an internet connection, a computer, and an idea of how to pursue your new small business. So, what’s the best business to start?
To find good business ideas, just ask yourself:
• Do you have any personal skills or expertise that would make you a natural candidate to start a certain type of lucrative business?
• Is there a problem that you could solve with a small business?
• Are there any emerging trends or technologies that could be used as a source of income?
• Is there a current product that you could make and sell cheaper or better?
Contact Omni Resources if you'd like a consultation on your business.
Consider the Following Suggestions For Businesses That Are Generally Low Cost and Easy to Start:
1) Invest in Real Estate
Renting real estate to tenants can bring in passive income without much effort. And today’s landlords don’t need to deal with the hassle of long leases and bad tenants. With Airbnb, you can simply rent a spare room in your home or extra property.
2) Online Tutor
Math, science, and English are common subjects middle, high school and college students need help with. If you have teaching experience, a degree, or are knowledgeable about these subjects, online tutoring could be for you. In-person incurs more costs though it can afford you certain savings for you, such as purchasing a car through your business.
3) Virtual Assistant
Working as a virtual assistant can be more profitable than many people would think. Online tasks such as proofreading blog posts, formatting email newsletters, and responding to customer questions are time-consuming for companies. Virtual assistants can step in and finish these tasks easily while working from the comfort of their own home. All you need to do is search for job openings to start, some firms can pay $50/hr for good VA’s to help Sr leadership at a company.
4) Professional Blogger/Social Media Influencer
Thinking about starting a blog and turning it into a business venture? Blogs are a great method for how to make money in business. Professional bloggers earn money through selling advertising and affiliate marketing on their own blogs or by getting paid to blog for another company or organization. Popular topics for bloggers include travel, cooking, health, technology, and finance.
5) Podcast Producer or Editor
You may hear the term “content marketing” more than you hear about advertising these days. Companies are seeking to engage their prospects and clients via all types of content. Podcasts are an integral part of content marketing and can be a great niche for someone who wants to have a thriving content marketing business. A professional website with examples of your best work is a must.
6) Career or Life Coach
If you like counseling people and helping them help themselves, being a career or life coach may be your calling. You can get training and certification through organizations accredited by the International Coach Federation (ICF). Rather than being vague about your expertise, refine your area of coaching to attract a certain group of clients. Whether that’s leadership coaching, helping people who are making career transitions, or something else.
7) Freelance Writer or Editor
These professionals can stay at home and produce content for a variety of venues. All they need are writing skills, editing skills, a computer, and an internet connection. Then start accessing companies or individuals who have a need for the work they do.
8) Jewelry Repair Business
Setting up a jewelry repair shop in your own home is easy, convenient, and inexpensive. Customers can drop off their jewelry in need of fixing directly to your home. On-the-job training is a must, and some vocational classes could help. As you establish your own business, you might consider seeking one of the four certification levels offered by Jewelers of America.
9) Food Truck
Have a love of food, but don’t have the capital or desire for a full-blown restaurant? Think about starting a catering business or food truck. Starting can be low-cost if you purchase or lease a used trailer. This business venture is in high demand for weddings, farmer’s markets, breweries, and other events.
10) Sell Handmade Products Online
Do you have a talent for making things? Have you always been crafty? If so, Etsy may be the place for you. The website hosts countless profitable small businesses that offer homemade goods. These goods include jewelry, clothing, toys, craft supplies, and home decor. Etsy sellers also sell vintage items. Etsy allows sellers to channel their inner creative spirit while taking in extra cash each month.
11) House Cleaner
If you are in good physical health and enjoy washing and organizing, then cleaning homes may be a good work opportunity. It’s strenuous, gritty work, but it’s an affordable business to start. All you need are cleaning supplies and transportation to get to your clients’ locations. Do some market research to determine what kind of housecleaning service would be most in-demand in your area, many times Airbnbs need consistent cleanings. Carve up your niche and come up with a competitive pricing structure. For example, many startup cleaning services focus on using environmentally-friendly practices and products.
12) At-Home Pet Sitter
Want to turn your love of dogs and cats into a business? Becoming a pet sitter could be an option. Reputation is going to be everything, and you may have to offer discounts as you build the pet-sitting business.
13) At-Home Daycare
Every state has its own licensing rules regarding home daycare providers, which often involve home inspections, background checks, and following specific regulations. Consider getting experience by working at a licensed daycare center. Gain a good reputation, and you could have a successful, home-based business.
14) Food Delivery Services
Depending on your location, you may need several licenses and permits, including those that allow you to handle food. Consider partnering with popular local restaurants and food businesses for a win-win. They can bring in more business while you benefit from their established recognition in the community. (If you plan to prepare the food yourself, you may need to work from a commercial kitchen.) You’ll need a website unless you work with an established food delivery company.
15) Grocery Delivery
This may seem like a crowded field, with competing companies ranging from Peapod to Amazon to established grocery stores. There may, however, still be ways to carve out a niche. Perhaps you’ll focus on sourcing groceries from health food stores or co-ops that offer organically grown produce. Or you can provide extra perks such as recipes and accompanying ingredients.
16) Travel Agent
Dreaming of a job where your “research” involves traveling to exotic destinations? A travel agency could be the business for you. You’ll need to take some travel planning courses, such as those offered by the International Air Transport Association (IATA). Or you could get a degree in travel and tourism. A handful of states, including Florida and California also require travel agents to register. It doesn’t hurt to serve a specific niche. For example, a geographical niche might mean becoming the go-to person for Orlando, Fla. theme parks or for trips to Africa.
17) Graphic Designer
Even if you have a degree or ample experience in design, it’s important to stay current on all the latest design programs and trends. If you need a refresher, graphic design courses at local colleges can help. Designers who also have animation and web development experience typically have the most opportunities. Develop an attractive website that houses samples of your best work to show to prospective clients. Then network through business networking groups and in places where businesses look for graphic designers, such as Upwork and LinkedIn.
18) Web Designer
Websites are necessary for selling products and services in our modern economy. This means that businesses especially need websites to sell products to their customers, as well as to communicate with them. Therefore, if you have website-building skills, the market is booming with opportunities. All you have to do is get the word out about your website design services and begin. Building and optimizing your own website can be a good starting point.
19) Photo Seller
In the age of social media, taking photos has become so much more common. Today, sites like Shutterstock and iStock by Getty Images will allow you to sell photos for money. So the next time you capture that breathtaking landscape for your Instagram account, think about turning a profit.
Enthusiastic shutterbugs can turn their pastime into a paycheck. Interning or apprenticing with an established professional photographer can help you learn the business. Avoid a common trap while starting a photography business: buying a ton of expensive equipment and photo editing software. Instead, buy used and slowly build your equipment inventory based on your needs. Building a strong portfolio and finding a niche can help: Are you interested in shooting sports events, weddings, family portraits, or something else?
21) Furniture Maker
If you’re looking for unique business ideas, you may want to consider creating your own product. For instance, the demand for well-crafted home furnishings has been growing. The time could be right for more high-end, uniquely designed, domestically-made furniture
For someone who knows how to manage financial records, this can be a solid business opportunity that requires minimal startup capital. You may even work from home. Get acquainted with bookkeeping through online courses or get a head start on a two-year associate degree in bookkeeping or accounting. Certification from the American Institute of Professional Bookkeepers could also enhance your credentials.
23) Professional Organizer
Being a “neat freak” could make you a natural fit for this type of startup. Professional organization is perfect if you like to stay abreast of trends in home and office organization and be savvy about how you market your services. Industry groups such as the National Association of Professional Organizers offer training and certification. They also provide pointers on how to launch a profitable small business and network with prospective clients. Many professional organizers use social media to share organizational tips and meet potential clients.
24) Miscellaneous Services
Do you have some decent handyman skills? Are you a great wedding DJ? You might try offering your services on sharing economy websites, such as TaskRabbit or Thumbtack. Note that you may have to work odd hours or change plans when work comes your way. If you’re lucky and have skills that are in demand, you may be able to build a reliable base of clients who regularly seek your services.
25) Survey Filler
Expressing your opinion may just get you paid. Companies like Survey Junkie will pay users cash to fill out surveys. This is a good way to get a little extra income flowing in, although it has the potential to become time-consuming.
28) Search Engine Optimizer (SEO)
Reaching customers on the internet is only becoming more challenging and complex. Understanding SEO means you can help companies successfully navigate Google and other search engines.
29) Proofreading Services
If you love to correct grammar and punctuation, offering to proofread may be a great new business to start. Perks can include working from home and setting your own hours. Startup costs are generally low. You’ll typically need a computer, grammar style guides (such as the latest AP Stylebook and Chicago Manual of Style) and perhaps certain software programs used by your clients. You can promote your service on sites like Upwork, LinkedIn, and other places where prospective clients may look.
30) Video Editor
When you’re struggling with what business to start, one good option is to use skills you already have. For instance, as more companies turn to video to communicate their messages to consumers, video editing skills become more valued. This skill can be used to assist businesses, or even to assist individuals, with making videos.
The Key to Small Businesses That Make Money
Making money starts with knowing what’s out there. The key to success as a business owner is finding the right job to fit your needs, skills and preferences. Once you do that, don’t be afraid to invest in your idea. With today’s digital environment syncing multiple streams of income in support of a single well-supported lifestyle is easier than you might think.
It doesn’t matter if you’re looking for a full-time job or already have one. Adopting the right mindset and putting your skills to work can help lead to a money-making victory.
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"To be rich you have to know what it is to be poor. Getting financially literate is part of the price you have to pay to become rich."
~ Robert Kiyosaki
An American entrepreneur, businessman, and author of Rich Dad Poor Dad, the #1 personal finance book of all time
Editor’s note: Nothing in this blog post should be construed as legal advice of any kind. Any legal, financial, or tax-related content is provided for informational purposes only and is not a substitute for obtaining advice from a qualified legal or accounting professional.