These days, the unprecedented accessibility provided by digital innovations has opened doors for many entrepreneurs from all locations. They can operate from anywhere in the world and still serve customers that are thousands of miles away.
The old way into starting a business used to be renting a commercial space that can easily cost entrepreneurs a lot, depending on where they want to establish their business and how big they want the store to be.
If you’ve been thinking of starting a business but is being held back by the possibilities of all your earnings going to rent, utilities, and maintenance, you should know that there are plenty of ways you can minimize those spending if you start a business from the comfort of your home.
To give you some ideas you can start with, here’s a list of some businesses you can manage without renting a space:
1. Bulk item selling
Like most, if not, all retail businesses, you can start with buying items in bulk and selling them at an attractive price. If you have an appetite for selling, this would be a good fit for you to use your marketing skills to attract consumers.
You can browse wholesale platforms for unique items you think your target consumer base will like.
2. Home made products selling
There are people who are crafty when it comes to making items using their hands and some equipment. If you’re one of them, you can make a living out of your hobby. What’s wonderful about selling the products you made yourself is that you can control every aspect of the products you’re selling.
A plus factor because your consumers will know that they’re your own and you know how you can address any issues they encounter with your products.
When you don’t have much storage at home for your products, you can choose to open a dropshipping store. Dropshipping stores don’t need you to hold an inventory from where you’re operating.
You can work with a third-party store that does the storage and shipping part of your selling. The only work left in your hands is on the marketing and customer service aspect of the business.
4. Print-on-demand business
If you have yourself a decent printer that can handle high numbers of prints and still manage to come out with quality prints, you can start a print-on-demand business. Similar to dropshipping, you don’t have to take space at home while you’re managing this type of business.
You’ll be getting orders from clients and that would be the only time you’ll have to come out with supplies and once you ship them out, you don’t have to worry about storage again.
This type of business is good if you don’t like having a surplus lying around and taking space inside your place. You only put products out when you know someone’s going to buy every piece.
5. Online Services
If you have skills you’ve honed enough to be able to turn it into a livelihood, you can offer online services. You can write, design, be an assistant, and other types of roles that can be fulfilled without the existence of a face-to-face transaction between you and your clients.
For example, you’re an interior designer, and you want to be able to serve clients without working for a firm, you can opt to join freelancing platforms or put up your own website and offer your services. You can recommend anything from furniture down to modifications such as staining using staining rags and other essential materials and tools.
The only downside when pulling off a home-based business is that one way or another, you’d still have to expand once your business grows to accommodate more clients. But if you’ll look at it, it doesn’t seem too bad.