Work from home businesses for full time, part-time jobs and side hustles
Almost 40% of Americans have a side job or business to help supplement their full-time income. The rising cost of living in the US, while wages remain relatively stagnant is the driving force behind this trend.
Starting a side business that is meaningful to you will provide a sense of fulfillment and purpose that your regular 9-5 job most likely doesn’t.
Becoming an entrepreneur isn’t easy. It often requires determination and hard work. But, if you find the right business idea for you, you’ll be able to earn a lot more money than at your regular job. The earning potential for the self-employment is almost unlimited!
The majority of people can’t afford to just quit their day jobs and pursue the entrepreneurial venture of their dreams. Financial obligations tend to put a dampener on that. But, most people can start a side hustle and build a business on the side while maintaining a steady income.
Many side hustles require almost no investment and the earning potential is huge. You can work on building these side businesses at the weekend or in the evening. Instead of watching 3 hours of T.V. you can use that time to secure your financial future!
So, let’s talk about some of the most profitable businesses that you can start from home!
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#1 Start a Blog
Starting a blog is probably one of the lowest cost businesses that you can start today. Hundreds of thousands of bloggers are making money writing blogs about topics like personal finance, parenting, home décor, travel, entertainment, lifestyles and so many more diverse topics.
Bloggers (like us!) are growing our income up to 7-figures a year. This level of income is possible thanks to affiliate marketing, sponsored posts and on-page ads. You can read our latest income report here if you are curious about how we make money blogging.
Blogging is one of the best businesses to start (in my opinion) for several reasons:
- It doesn’t require much money to start. Typically, $100 is enough to start a blog.
- You can write about topics that you are passionate about and help people at the same.
- There’s unlimited earning potential.
Another advantage of blogging is that you can do it anywhere (at home, at the coffee shop), it’s location independent and has flexible hours. So, if you have kids or move a lot, it can flex to your schedule.
The first step is to start a blog about something that you are passionate about. You need to find a topic that you can write a lot about, have some authority in and find an audience that is hungry for the topic.
Blogs that solve significant problems for a large number of people usually do well.
One of the biggest challenges with blogging is to attract visitors to come and read your work. Bloggers use social media and search engine optimization (SEO) to help people find their blogs. It takes a long time to build a significant amount of traffic to your blog (this eBook about SEO can help!) but it is worth it.
Don’t get me wrong – starting a profitable blog is hard work. But the reward is that a blog can become a passive source of income if you put in the initial work and grow your audience. If you would like to learn more about starting a blog, be sure to check out our popular article (How to start a blog?) to discover the best way to start a blog.
#2 Stock Trading from home
Trading stocks can be very lucrative. But it is very hard psychologically, and many people are just not cut out to be traders. Many people try to trade stocks on the NASDAQ and NYSE but 80% of them lose money in their first year of trading. Emotions like fear and greed are usually the reasons for failure.
However, a small percentage of people are able to make a lot of extra money trading stocks. The most successful traders usually spend years learning from their mistakes and learning from stock trading newsletters and subscription services. Some of the best educational services that we have used can be found at RagingBull.com.
The amount of money that you can make as a short-term trader depends on your skill level and how much capital you are using to trade. Many successful traders make 10% – 20% per trade with a win rate of 70%. With practice, it’s possible (although extremely difficult) to double your trading account in a year. One year we were able to achieve this, but a more normal rate of return is 30% to 40% a year. Certainly beats a savings account at 2%, right?
Most short-term traders use patterns in the price versus time charts (known as technical analysis). They also trade stocks based on press releases and other catalyst events that cause the price to change dramatically in a short period time.
Generally, traders stick with companies that stocks are prices under $20 per share. These companies stocks are quite volatile which gives rise to short-term trading opportunities that you just don’t find with blue chip stocks (e.g. Apple).
The upside with stock trading is almost unlimited. Many of my friends make over a million dollars a year trading stocks for 1-2 hours per day. It can be the ultimate side hustle! You can get started with as little as $100 to use as trading capital. You need to sign-up for a brokerage platform to allow you to buy/sell stocks.
We highly recommend using the free broker called RobinHood. It is one of the only brokers that allow you to start trading with any amount of money (many make you deposit $10,000) and they don’t charge for trades.
#3 Freelance Writing
Freelance writing is a great way to make some extra money at home. If you are a decent writer and love to research topics and write about them, freelance writing can help you make quite a bit of extra money.
You can earn $0.2 per word writing for bloggers and a lot more if you get hired by a professional magazine site. It can be extremely lucrative when you have built up a great reputation and portfolio.
A good example of freelance writing success is my friend, Holly Johnson. Holly is able to make over $200,000 a year as a freelance writer! She has written a great course, called Earn More Writing that explains exactly how she does it.
One reason that many people love freelance writing (apart from the money!) is that it is a great way to express their creativity. There is a lot of variety in the work. One day you might be working for a blogger and the next you might be ghost writing an eBook.
To get started, you can start a writing portfolio on Medium. Building a portfolio on Medium will show clients your work and you can actually make money writing on the platform.
Many of the freelance writers that we hire for our blogs are members of blogging and writing Facebook groups that we are in. So if you want to get some freelance writing gigs for bloggers, be sure to join some of the relevant Facebook groups so you can network with potential clients.
I highly recommend Holly’s course. You can even get started with her FREE intro course.
#4 Proofreading Online
If you have an eye for spotting mistakes in the written documents, you might want to consider starting a freelance proofreading business online.
Working as a freelance proofreader is becoming extremely popular. As more online content is produced there is an ever increasing demand for content editors and proofreaders. The job of a proofreader is to put the final ‘polish’ on the document, usually the last step right before publishing.
Proofreading involves checking for:
- Spelling, grammar and punctuation
- Syntax, usage and consistency
- Brand voice
It sounds simple but it can be pretty challenging. Clients often want you to proofread a document very quickly and it can be a difficult task.
Caitlin Pyle is a great example of a successful freelance proofreader. When Caitlin was in her early twenties, she was brutally fired by her bosses. She was forced to come up with an income source that would pay her bills. She turned to freelance proofreading and quite quickly was able to make a full-time income working part-time hours!
Caitlin has a very popular proofreading course where she teaches others how to become successful freelance proofreaders. She covers the basics of proofreading and teaches her students how to setup and run a freelance business.
You can check out Caitlin’s FREE webinar here.
There is still a huge demand for human proofreaders despite the availability of spell checking software. It is the perfect profitable business that can be done from anywhere with very little investment.
The best online proofreading jobs can pay as much as $100 per hour! The typical rate of pay usually ranges from $10 per hour to $50 per hour.
#5 Flea Market Flipping
This final profitable business idea doesn’t require you to be glued to your computer screen 24 hours a day. Well sometimes it does…
The basic idea of flea market flipping is simple. You go to a flea market, thrift store or yard sale and find quality items for free or that are extremely undervalued. You buy them and sell them on eBay for a profit. Simple, right? This is the core of most retail business models.
However, it can be a bit harder than it sounds. You have to know what the best items to flip for a profit are and where to find them. It is a good idea to start out small and work up to the more expensive items. Many people start out just buying T-shirts for a dollar and then selling them for $5-$10 online.
The recommendation from my flipper friends is to start flipping items that you are knowledgeable about. You need to have that deep insight into the different variations, models and prices of the items that you are flipping.
You can scale this buying/selling strategy and build up to flipping higher priced items. Most professional flippers will not bother with any item that doesn’t have the potential to make them a minimum of a few hundred dollars profit.
It helps to have a truck and be able to take the time to go and hunt for items to flip. I met a woman that was flipping couches in Seattle and making $500 per day doing it. She had lost her job and started her flipping business out of necessity.
Her strategy was to spend the day looking at the couches listed for free on Craigslist. She would look at 5 or 6 couches (most would be in terrible shape) and find one that was in decent condition. She would take it away in her truck, relist it, and it would sell for $100 – $200. She was able to do this a couple of times a day! I am sure she got quite fit and that she made a killing.
Rob and Melissa earn over $100,000 a year with flea market flipping. Rob will only buy items that he is sure that he will be able to sell for ten times more! He loves buying things like exercise machines and selling them for huge profits. Rob works about 30 hours a week on the flipping business, giving him plenty of time to spend with his family.
Rob and Melissa have created a course so that others can learn how to successfully flip items and how to scale your business. They teach you how to find good items that have good upside potential and how to avoid foolish risks. They share tons of examples that they have flipped on their own. Very inspirational. You can check out more about it here.
Final thoughts on work at home businesses
We have given you some of the most profitable business ideas that you can start at home for almost no investment. If you work hard, it is quite possible to find yourself running a multimillion dollar business from the comfort of your own home.
This is a Guest Post from Russell Barbour, owner of Unconventional Prosperity and Stock Millionaires
Related work at home articles:
- Becoming a blogger in 7 easy steps
- 9 FREE courses for bloggers to accelerate your traffic and income
- How to start freelancing
- Start your own business as an entrepreneur
The 5 Most Profitable Businesses That You Can Start at Home