9 Impressive Home Business Ideas To Earn Extra Money

Home businesses are becoming more and more popular, especially as we see the internet continue to grow. This only makes earning extra money easier but also allows both Moms and Dads to be able to start their own business without the need to even leave the house and their kids.

Running your own business has become a trend across all ages, creeds, and colors it has zero boundaries, whether you are a student looking at paying your way through college or retired, looking to supplement your pension, it just works!

Whatever home business you decide to start I would always recommend, following someone that is already making money. I have a free 7 day Bootcamp which will show you exactly the steps I took which provides me with additional income streams, be sure to register for it on this page.

1. Blogging

Blogging is huge right now, I am loving creating content on this blog for you to read. If you are looking for a simple business model that you can start for free and build into a full time living then blogging is for you.

Now, although I may money every single month from my blog, it does take hard work and some dedication to make a successful blog. I would also recommend that you learn from others that have already made money. That’s why I am a member of the Wealthy Affiliate University, which is a great ongoing resource for building any online business.

Pros

• Work from anywhere there’s an internet connection
• Easy to start
• Start for free
• Easily scaleable into full-time business
• Many income streams
• Works in any niche

Cons

• Can take time to see results
• Needs consistent new content being produced

2. Drop-Shipping

Drop Shipping is starting to gain some momentum as more and more companies as seeing it as a way to sell more products. If you are new to this method then let’s just explain how the drop-shipping model works.

Companies allow you to promote and sell their products for them, they then give you a discount sometimes up to 50%. When you make a sale you then take the payment and place the order with the relevant company. They then send out the product directly to your customer. You can then pocket the difference in selling and buying the product. Your Profit!

The Pros

• No stock is needed
• Easy to set up
• Payment is upfront before you ship product

The Cons

• Need to keep updated with your suppliers
• Need to have a platform to sell the products
• Not in control over delivery

3. Network Marketing

Also known as direct selling or multi-level marketing. This isn’t a new concept far from it, some of the best networking companies have been around for decades and still going strong today.

As a distributor for your chosen company you are assigned to see their products, you then receive a commission. You can then also earn by referring other people to become distributors too. When your team of distributors sells and refers too you get more commissions. So, the more active your team is the more you get paid.

If you love selling and meeting new people then network marketing could be for you, I must admit I have tried a few companies in the past but never really found it was for me.

Pros

• Meet like-minded people
• Work your own hours

Cons

• Hard work for not much in return
• Only a small percentage make big money
• Physical products to sell every month

4. Consulting

People and small businesses are always looking for consultants, in the long term it costs them less to get a consultant in rather than employ a specialist person for the information they require. This is why you can step in and offer your services.

There are loads of different avenues to explore here is just a taster of what you could do Marketing, General Business, Web Development, Social Media Management, and even general Assistant tasks.

You may already be qualified, and just want to branch out on your own, or you can choose something you know about and become the go-to expert within your niche. Either will work!

Pros

• Work hours to suit you
• Can be very lucrative
• Widen your knowledge

Cons

• Ongoing learning needed
• May have to travel from home
• Need to constantly obtain new customers
• Can feel you are not in control
• May have to work to deadlines

5. Craft/Hobby

If you have a hobby that produces a product or service then why not create a little business by selling what you produce. The internet has meant you now have a worldwide audience.

Platforms such as Etsy, Ebay and Amazon (to name just a few) have made selling items so simple to do.

Social network sites such as YouTube are amazing to demonstrate and share your knowledge with your followers. Plus, I have already touched on blogging which could be combined to produce a great way to sell your own products.

Before jumping into this one do some research on your particular hobby. niche and see if there is a market for what you do.

Pros

• Work from home
• Low start-up costs
• More income streams could be added as your business grows

Cons

• Would need to find other income streams to scale business
• Hard work needed (although if it’s your hobby you don’t mind putting in the hours)
• Low return per hour
• Not every hobby will work

6. Affiliate Marketing

If I had to say my favorite way to make money from home then affiliate marketing would get my vote every time. If you are new the concept of affiliate marketing then let’s just quickly explain how it works.

You are basically recommending other people’s products to new potential customers. If the customers buy the product or service you then get paid a set commission directly from the company. All you need to do is find companies that have affiliate programs. 

There are many companies that offer this now although remember commissions can vary from a few percents right the way up so choose wisely. Even Amazon has an affiliate program!

Pros

• Easy to start
• Very low start-up costs (you can start with no money)
• None of your own products needed
• Unlimited earning potential
• Ideal for any niche
• No customer service required
• No monthly targets
• No meetings to attend

Cons

• Can take time and hard work to see results
• Ongoing learning may be needed

7. Online Surveys

Online survey sites are popping up on the internet all the time, which is great if you are looking to earn extra income. You get paid to take a survey and give your opinion, but beware not all of them are legit and you will never be paid for the surveys you take.

I would certainly do your research and avoid companies such as Viral Pay which I reviewed as a scam earlier this year. That said there are plenty of good sites out there too. Like anything, if it sounds too good to be true it most possibly is.

Pros

• Work from anyway with an internet connection
• No setup costs

Cons

• Low payouts
• Limited surveys
• Time-consuming
• You may not get paid
• Not scalable to a full-time income

8. Dog Walker

I am fortunate that I work from home so I don’t need anybody to walk our dogs as I can take a break whenever I suit and go and walk them. Many others are not in the same position and need people to come and walk there dogs as they are hard at work.

Pros

• Great exercise
• Regular income

Cons

• Fairly high start-up costs
• Tied to a time schedule every day/week.
• Need to find good clients
• Limited to the number of dogs you can walk
• Insurance required
• Pet first aid required

9. Virtual Assistant

With the growth of technology becoming a virtual assistant is very popular these days. There are many things that a VA can turn their hand to. With the rise in companies using social media, the need for someone to manage this has increased and that is where the VA’s can step in.

Other tasks could be, proofreading, creating documents, setting up appointments the list is probably endless.

Pros

• Never have to leave the house
• Work to your own schedule

Cons

• Good customer base required
• Exchanging time for pay (this will limit what you can earn)
• Not your own boss
• No time away
• Need to outsource to grow business

Conclusion

If you are looking to start your own business from home then this shortlist should give you some great ideas on what will work well for you. You can view even more ideas from our friends at good financial cents

If you haven’t already grabbed my free 7-day email Bootcamp to as this will give you some great tips, ideas, and tools for whichever business you decide to start.

If you have any other home business ideas that you would like to share then feel free to post them in the comments below (no links please). Whatever you do work hard and be patience I have found these two things that every business will need.