Starting a Home Based Business is an intelligent thing to do in 2021 India. The increased cost of setting up a property exclusively for business purposes has become a luxury for people to afford, especially in the post-COVID scenario of serious economic struggles.
The ever increased dependence of people on the internet for commercial purposes these days also makes the period congenial for starting such businesses. Selling and buying are now possible virtually. It doesn’t necessitate exclusive spaces. The extra space in your home can be utilised for this purpose. The comfort of working from one’s own homely atmosphere would increase the efficiency of the business as well.
Even if there are a lot of such advantages selecting the most appropriate business is also important. The space available in the home, the nature of the people residing- especially if there are people with serious health issues – there, etc., should also be considered in making choices.
Now let us see some of the highly popular home based business options that you could select the apt one for you.
1. E-Commerce
Commodities could be collected in bulk and sold loosely. The commodities chosen thus should be most suitable for the target market. For example, exotic things available overseas could be collected and sold using social media and online networking facilities.
2. Blogging
This is an ideal business that could be undertaken from home since it requires very little investment. It is time convenient, too, since it can be worked upon at any time. You can create a blog of your own and start writing things helpful for people. Also, you need to understand the different ways with which people can be attracted to read your blog. SEO, SMM, and other techniques facilitating this can be studied easily using online resources.
3. Babysitter (Creche)
It is best suited for someone who is experienced in dealing with infants and toddlers. Normally working parents in big cities require the help of such services to look after their children. The investment is also not that high.
4. Meal Service, Catering
The kitchen of the home should be modified to cook food materials in larger volumes. Since it is labour intensive, it may require employing more labourers for cooking as well as distribution. If people with good culinary skills are available for work, even a catering unit could also be set to make delicious food available. Also known as the ‘Tiffin’ service.
5. Packing
This involves a low investment. You only need to have cartons, packaging materials, and some workforce. Goods received from commercial enterprises are required to be packed accordingly to the need of the industrial customer.
6. Online Teaching
With the new normal set by the pandemic, Distance learning has become quite popular these days. If you have expertise in any particular skills or subjects, you can create a business much easier.
7. Candle Making or Soap Making
The skill of manufacturing soaps or candles is much easy to learn. This is a popular business in India. You will need to have an extra room or space to set the manufacturing unit. Investment is required in buying raw materials and the necessary pieces of equipment.
All these are particular specific fields of businesses. In general, you can profit by retail manufacturing and/or selling products and services online or offline using the extra space in your home.
However, Home-Based Businesses have some drawbacks as well. The conversion of your homely space for business needs may affect your privacy at home. They also require you to be compliant with all the rules and regulations applicable to normal businesses. Even with these drawbacks, it is highly recommended mainly because of its cost-efficiency.