COVID has forced many individuals to become an entrepreneur and start their own businesses rather than depending on a company or a business house for a 9 to 5 job.
Many businesses are very profitable and at the same time can be started by young entrepreneurs from the comfort of their homes.
We are going to talk about 13 such profitable home-based business ideas for young entrepreneurs.
You don’t need huge capital to get started. It does not matter how qualified you are or what experience do you have.
Any entrepreneur who has passion and dedication can start these businesses.
Here are they ….
1. Freelance Writing
Freelance writing is one of the best home-based business ideas for entrepreneurs, especially after COVID 2019 pandemic. It is basically a small business where young entrepreneurs write content for their clients and get paid for their work.
There are different types of freelance writing, for example, content writing, article writing, copywriting, editing, ghostwriting, etc.
You don’t have to be a great writer to become a freelance writer.
Blogging is perhaps one of the most profitable home-based business ideas for young entrepreneurs. Blogging is a bit difficult than freelance writing. But rewards are really great.
If you have a hobby or passion for something then you can turn it into a blog and share it with the world online.
Whether you love cooking, traveling, music, gardening, petting, tech, etc you can write about it and share via a blog.
Once your blog becomes popular you can monetize it with advertisements and earn money. Entrepreneurs can also sell products in a particular niche through their blogs.
Vlogging or video blogging is very popular especially among the younger generation of entrepreneurs. If you love recording videos then you can create funny and educational content and upload it on platforms like YouTube.
Apart from creativity you also require great editing skills to produce quality videos. A lot of youngsters are investing their time and money in creating great videos.
There are thousands of successful entrepreneurs who are YouTubers and earn millions of dollars through Vlogging. Also, many small YouTubers make good money from Youtube. Many proven methods will help you to earn a decent amount of income from youtube such as affiliate marketing, crowdsourcing, Youtube Ads, etc.
You can do the same!
4. Dropshipping with Amazon
Entrepreneurs can leverage the power of blogging and vlogging to sell merchandise online. You don’t have to own a product. You can join a supplier like Amazon and list their products on your blog or vlogs.
Later you can promote your blog using various marketing techniques like social media, SEO, email marketing, and sell products to customers.
Once you start getting orders your supplier (in this case Amazon) will ship products directly to the customer’s home address.
As an entrepreneur, you don’t have to own any product or rent a warehouse to store products. You are just a middleman who earns a commission.
5. Web Designing and Development
Young entrepreneurs who have a technical background and know coding and designing can start giving web services to their clients around the world.
However, to start this business you will require a team of at least 4 – 5 designers and developers. You can hire them as freelancers and work with them remotely.
You can offer your services to clients on platforms like Fiverr or Upwork. Web designing is a very lucrative home-based business idea for entrepreneurs around the world, especially in developing countries.
6. Tutoring Offline and Online
Tutoring is another low investment easy-to-start home-based business idea. You can start teaching math and science to children in your neighborhood.
To start this business entrepreneurs just need a small room with a seating capacity of 10 to 15 students and a whiteboard. You can teach them any subject that you are an expert in.
You can also go online and tutor students via Zoom. Chegg and Tutor.com are some of the most popular online tutoring platforms in the country.
7. Intra Day Trading
Intraday trading is a very risky but very profitable business idea.
If you know how stock markets function then you can start day trading and make huge money.
Although day trading is very risky and you can lose your entire wealth quickly but if you have done proper research then this profession can yield huge profits.
This is the sort of business that entrepreneurs are going to love it.
You can start this business from home with some capital. Choose a broker and start trading.
MLM products are mostly health and wellness products that you sell to members in your network and earn commission from each sale.
The more the members join, the more you sell. You make money by selling products and not by recruiting members. So it is different than pyramid selling.
MLM business idea is really a great opportunity for young entrepreneurs who are less educated with no college degree.
However, you have to put in extra effort, especially on weekends to succeed in this business.
9. Event Management
An event manager is responsible for organizing and coordinating events like weddings, anniversary and birthday parties, business meetings, cultural events, etc.
Before entrepreneurs take a plunge into the business they need to develop their contacts and stay in touch with people who do catering, decoration, lighting, music, etc.
Event management is one of the best options especially for women entrepreneurs who want to start a business from home.
10. Catering Services
Catering services are a bit tougher than event management because you need a team to start this business.
Entrepreneurs will need some help in marketing, organizing, planning, cooking, delivery, etc. For cooking on a larger scale, you also have to rent a commercial kitchen in your area.
However, if you can satisfy your clients then the income potential for an entrepreneur is great.
Baking can be such an empowering profession for entrepreneurs who are women, especially housewives. If you can bake items like bread, buns, rolls, cake, cookies, muffins, pastries, etc then you can start a bakery business right from home.
Initial investments are pretty low; you will require things like oven, food processor, mixers, baking pan, dough proofer, etc.
Either you can home deliver your products or sell them directly.
12. Rent a Room through BnB
As a young entrepreneur have you ever thought of renting your house to tourists for a few days and making money from it?
If you live in a metropolitan city then a lot of people would like to visit your city for business and pleasure purposes. You can rent your entire house or just one room to them and earn money.
The best part of this business is entrepreneurs don’t need large money to get started. You can list your house on www.airbnb.com and find out how much you can earn in your city.
13. Childcare or Daycare
Nowadays both husband and wife are working; therefore, they are unable to devote time to their children.
They have to work for a 9 to 5 job leaving behind their kids. But now a daycare in their neighborhood allows them to drop their children at a safer place.
Entrepreneurs who want to offer Childcare services have to take care of kids as little as two and half years old. Initially, you can start this business from your home but later you can rent a spacious house to expand the business.
Apart from spacious rooms entrepreneurs also have to invest in furniture, toys, playing areas, helpers, etc.
So these were 13 high profitable home-based business ideas for young entrepreneurs to choose from. Depending on your expertise and budget you can choose any one of them and get started.