All around the world today, countless people are considering starting their own home-based businesses. And they should be. With growing global interconnectivity and constantly increasing opportunities for innovating both new and old business ideas alike, an affordable, home-based business can quickly grow into something great.
We spent some serious time researching and dug into the best relevant business ideas out there for keeping your startup costs low and earnings potential high. It’s important to note that starting your own business is never easy, and you need to truly commit in order to become successful.
10 Home-Based Business Ideas You Can Start for Less than $5,000
1. Consulting Service:
Are you an expert at something? To get started, all you need to do is brand yourself as an expert in something that others are seeking to learn about or improve upon in their businesses. Perhaps in your career, you’ve become very efficient at teaching businesses how to find new customers online and grow their businesses through utilizing social media platforms. That’s a skill that is not only in high demand today, but has a very strong monetary value to it. Consulting businesses can be very easy to start because there typically aren’t any physical products involved, and your knowledge is what you’re selling. Helping other businesses avoid the mistakes you’ve already made is an incredible value proposition.
2. Custom Phone Case Business:
Coming in at around $3,500 to get fully set up, having a custom phone case business opens up some incredible selling opportunities that you can take advantage of from your home, at mobile events, and retail locations. With a system that makes totally custom phone cases on-the-spot in just 5-10 minutes, our clients are able to efficiently produce high volumes of phone cases with awesome designs. We recently highlighted 6 Etsy Sellers that are Making Over $600,000 Selling just Phone Cases Online with their own custom phone case businesses. It’s worth a read. With the ability to make a wide variety of different smartphone and tablet cases, our state-of-the-art 3D Sublimation Technology prints any image in beautiful clarity over the entire surface of your case. Watch this one minute video on how it’s done.
Learn More: Contact Case Escape
3. Electronics Repair (Mobile Devices & Computers):
With over 145,000,000 Google Search results on the term “iPhone Repair” alone, the need for repair services on our expensive technology is only going to increase. A new iPhone will typically run you somewhere between $399 – $799 at retail, and this creates a great opportunity for offering people a lower cost alternative to getting their cracked screen fixed, or parts swapped out. The same goes for laptops and desktop computers, which consumers sink significant costs into. This Pro Tech Toolkit from iFixit offers all the basic tools you need to start learning the trade for just $64.95, including some great training videos on how you get started with a mobile device repair business.
4. Event Planning Services:
This business opportunity has great expansion opportunities. Start out by working with a marketing manager at your potential event venues you’ll be booking for clients. Tour each site and learn the details on what is available at each location, you’ll need to be an expert in the area on which venues are appropriate for different types of events. It’s critical to track metrics on the number of people each venue holds, what type of electronic equipment is available at each site (projectors, speakers, catering services, tables, chairs, etc). This will make things much easier for when you sit down to plan an event with a client. From a customer acquisition standpoint, you’ll want to start by leveraging your personal networks and putting yourself out there as someone who can help with booking weddings, graduation parties, corporate events, etc.
5. Editorial & Writing Services:
From copywriting to proofreading, ghostwriting, blogging, book writing, magazine article writing, and webpage content writing, these are all very hot freelance categories online that tons of businesses are actively looking for help with. Start by creating a free account with the major online marketplaces for freelancing: oDesk.com, elance.com, and peopleperhour.com. You’ll find a large number of internationally spread out businesses seeking help on writing & editing services of various kinds and you can charge either an hourly or project-based rate. This business has great opportunity for expansion, but be willing to put in the time to create meaningful proposals to win jobs on these marketplaces.
6. Art & Jewelry Making:
There will always be a high demand for unique jewelry, art, and accessories. With the proliferation of eCommerce marketplaces like Etsy.com, Fancy.com, Pinterest.com, and many more, it’s becoming increasingly easy to find customers around the world who appreciate unique works of art and jewelry. There are so many different categories you can get started in, mediums with which to use, and selling channels you’ll be able to utilize. This one has an exciting potential to go viral online if you find the right customer base.
7. Computer & Mobile Device Training:
Consumers are flocking to new mobile devices and computers at increasing rates around the world. If your dad is anything like mine, you’ve likely spent a decent amount of time teaching him how to get his new iPhone set up properly and making sure everything is going to function sustainably moving forward. Things like syncing to the computer, backing up via iCloud, syncing over music & photos, saving contacts, etc can be a bit tricky to get down right. There’s certainly a science to making sure a new phone or computer is set up effectively, and the market for teaching people how to do this is only growing. Linking up with local electronics and electronics repair businesses can prove a great low cost (or free) introduction into the market for these services.
8. Freelance Graphic Designing:
Of all the home-based business opportunities covered so far, this one will require the highest level of training and development of skills, but the demand for graphic design work isn’t going anywhere. From corporate logos to flyers, newsletters, magazines, letters, information sheets, book illustrations, and online marketing materials, there are tons of opportunities at different design projects to be found on the same freelancing platforms we covered above. If you’re looking to learn graphic design, this article on how to get started will help set you down the right path: Teach Yourself Graphic Design.
You can make money as a photographer in many different ways. The most popular of which are typically shooting for weddings, portraits of people with their pets and families, corporate events, holiday events, Christmas cards, and birthday parties. In order to provide high quality photographs for your clients, you’ll likely want to pick up a Digital SLR camera. A great mid-priced camera that’ll allow you a dynamic range of high quality shooting is the Canon 70D, which also has wifi capability so you can link up your camera to a mobile device or computer and instantly retrieve images. Talented photographers can easily command rates of $2,000 and up.
10. Website Developer:
Similar to learning Graphic Design, becoming a proper web developer will also be a skill that requires a substantial time and effort commitment. That being said, the average hourly rate web developers are able to charge can be anywhere from $20 – $1,000’s based on experience and skill level. If you dedicate yourself to learning this trade and excelling, you have a lot of potential for success. Fortunately, there are also countless websites where you can learn to code online for free. Check out CodeAcademy.
If you want to learn more about starting a custom phone case business, check out our 14pg Information guide here.