The pandemic has changed how people consume products and services. It has also encouraged many entrepreneurs to use their homes as their base of operations. This enables them to accomplish new possibilities. Starting a business from home will enable you to pursue your passions. You can also acquire extra income as you begin your entrepreneurship career. Furthermore, these home-based small business ideas can be started right now.
Find out what options are there and the requirements to accomplish these small, home-based business ideas.
Things to Consider Before Starting Your Home-based Business Ideas
You have an idea for a small business, and you want to operate from home. Here are some things to consider for your home-based small business ideas:
Doesn’t require advanced investment. It is not a viable option to invest a large amount of capital in your business. There’ll be too much risk involved. As it’ll be a small business, be realistic about how much money you can invest in your industry.
Can be done from home at any time. Your business won’t acquire an office or fancy equipment. Home-based business ideas give you this flexibility.
Can serve your target market. If your product only appeals to a small market, then it’s not a good business idea. If your home-based business idea caters to a large market, then you choose it as your new business.
Social Media Monitoring and Management
Social media has integrated thoroughly into people’s lives. As a result, social media has made the world smaller. Social media users are constantly on the lookout for new trends.
If your passion lies in discovering the latest trends, then you can earn a living as a social media manager. This can be a very good home-based small business idea.
- Work responsibilities: You plan social media campaigns, post content across social media accounts, find the latest social media trends, analyse running trends, etc.
- Costs: Doesn’t have any initial costs besides a computer or mobile and access to the internet.
- Profitability: According to Payscale, the average salary for a social media manager in Germany is €34,370 a year.
Freelance Graphic Designer
Graphic designing is a competitive industry. If you’re good at designing, then you can design company logos and merchandise. This might be a great project for your home-based small business.
It’s possible to earn a full-time salary if you’re skilful and have a strong portfolio.
- Work responsibilities: develop visual concepts, coordinate images with copywriters and art directors, and create visual assets to use in campaigns, websites, and printed materials.
- Costs: You need to take courses on graphic design to receive certifications. Open accounts on freelance job sites Fiverr, Upwork, etc. and make a strong portfolio.
- Profitability: According to Salaryexplorer, a person with medium experience working as a graphic designer in Germany makes around €2,370 per month.
Audio and Video Editor
Brands and influencers need help with editing their content. However, they don’t have enough time due to their busy schedule.
You can earn a decent amount of money if you have experience in editing software.
- Work responsibilities: Inputting sound and graphics to enhance footage, splicing video and synchronising them into one rough cut file, improving and correcting lighting, colouring and faulty footage.
- Costs: You need a subscription for editing software programs like Adobe Photoshop, Adobe Premiere, Adobe Illustrator, etc. There are some free editing software such as GIMP and Photopea if you’re short on cash. You also need a computer and access to the internet.
- Profitability: The average audio and video editor’s gross salary in Germany is €49,710 a year.
If you’ve got a good ear and type fast, you can work as a transcriber with a flexible schedule. Medical and legal transcription fields require training and experience, but you can earn more.
- Work responsibilities: Creating accurate written versions of audio and video recordings, reviewing transcriptions, and identifying any inconsistencies.
- Costs: There’s little startup cost for starting this business. You only require a computer. Have strong listening skills and typing speed of at least 70 words per minute.
- Profitability: An entry-level medical transcriptionist in Germany earns €17.60 per hour.
YouTube Channel or Podcasting
YouTube channel or podcasting isn’t the easiest way to earn money from home. However, your dedication can change that.
Your passion for a certain subject has a community. They’ll see your videos or hear your podcast if you present efficiently.
It’s a gradual process that needs motivation. However, it’ll be rewarding when you see the progress you’re making.
- Work responsibilities: Filming or recording audience-appropriate videos or podcasts at calculated intervals, editing footage or audio, and releasing your public videos or podcasts.
- Costs: You’ll initially need a camera for YouTube and a good-grade mic for podcasting. Find a niche that you have an interest in and study your competitors. Determine how they have generated their audience. The cost will increase if the video or audio production value increases.
- Profitability: The initial process to earn money is tough. Yet, you can earn €1,000- €5,000 on average per month in Germany.
You can write and earn money if you love blogging. The best thing is, you can write about any topic.
Furthermore, you can write for companies if you’re good with grammar and proofreading. You can make money with affiliate marketing, direct ad sales, brand sponsorships, e-books, and digital courses.
- Work responsibilities: Researching ideas for posts, writing and editing content, and maximising search traffic by utilising Search Engine Optimisation (SEO) keywords.
- Costs: It only requires a computer and internet. Though, it’s better to have practical training in SEO to increase traffic to your blog.
- Profitability: According to Payscale, a blogger earns €16 on average per hour in Germany.
You can rent a guest room in your house or an entire property and earn money through Airbnb.
Consider your demographic and compare other Airbnb listings. The research will inform how you can approach your brand, design, and market your space.
Create an Airbnb Host profile and upload high-quality images of your listing. Once it’s approved, you can start getting bookings for your listing.
- Work responsibilities: Responding to hosts, accepting reservation requests, troubleshooting problems, and getting positive reviews.
- Costs: All you need is a computer or a smartphone and a place you can list.
- Profitability: According to AllTheRooms, in 2021 for listings with a single room the average Airbnb host’s earnings globally was €8,384.
Photographer and Photo Editor
Earn money through product photography.
Furthermore, you can also edit photos to earn some extra money. Specialise in the areas of product photography. When you know your focused area, it’ll be easier for your clients to find you.
- Work responsibilities: Researching products, sourcing props to enhance products, and editing images to match the client’s brand.
- Costs: You need a professional camera and high-quality lenses. It’s a viable option to invest in photography courses. You’ll also need a subscription to photo editing software programs like Adobe Photoshop and Adobe Lightroom.
- Profitability: A person working as a photographer in Germany earns €2,830 on average per month.
Become a fitness instructor if you love to be fit. You train clients from home or work from a local fitness centre.
You start working as a personal trainer. Furthermore, you can also use your knowledge to become a fitness writer.
- Work responsibilities: Providing exercise routines and nutrition services, identifying and tracking clients’ fitness levels, and modifying exercise plans based on needs.
- Costs: You require recording equipment to conduct online classes.
- Profitability: According to Salaryexplorer, a fitness instructor in Germany earns on average €2,000 per month.
Creating a perfect resume to get the desired job is hard. That’s why people require help. If you have worked in HR or as a recruiter, you can join the home-based resume writing business.
The resume writing business is economical and needs few educational requirements.
- Work responsibilities: Maintaining relationships with clients to write their resumes, conducting interviews to gather information, writing cover letters and reviewing resumes.
- Costs: You only require a computer and internet to start this business.
- Profitability: A resume writer in Germany earns on average €27.73 per hour, depending on experience level.
You can start any of these business ideas right now! These are very inexpensive home-based small business ideas. THus, you don’t have to spend a fortune to pursue your dream, just a little time and creativity.
Feeling stuck on creativity? Read this blog post to help you automatically generate ideas.