home based business idea

It is no longer news that a single stream of income can no longer sustain anyone, especially if you live in a country like Nigeria. Home based businesses are becoming commonplace, as people now prefer to work from home. So having a list of top Home based business ideas is a goldmine.

It would help if you had multiple income streams to meet up with the ever-growing demands; daily needs, bills, utilities, and the ever-increasing cost of living.

Though almost everyone would love to have multiple income streams, not everyone has what it takes to pull it off.

Must Read: 14 steps to Start and grow a profitable business in Nigeria

Many would-be entrepreneurs have abandoned their dreams of owning a business or a side-hustle because of the fear of contending with business necessities such as capital, rents, utility and start-up inventory. 

The first step to starting a business in Nigeria is to register your business entity with the Nigerian Corporate Affairs Commission (CAC). Your registration depends on the structure you want your business to work with.

This article will show you 7 home-based business ideas that you can start and earn much money from especially in this post-COVID 19 era.

Contents

1. Home Based Business Idea 1 – Sell Knowledge: 

Selling products online is a great way to earn extra income. There are several different methods you can use to sell products online. One of the simplest options is to set up an eCommerce store using platforms like Shopify, Bigcommerce, Volusion, or Magento.

These platforms allow you to easily manage inventory, track orders, and accept payments.Consumers are hungrier now than ever to know why and how things are done, and they are only buying from those who tell them. 

One of the best home based business ideas to start is to sell your knowledge and skills.

Come to think of it; there is something you know so well that others are willing to pay to learn. 

Most marketers and business owners forget that what clients genuinely want is answers to their questions; more like solutions to their problems. And if you are answering their questions, you are the solution to their problems; and therefore their number 1 choice.

Must Read: Solved: How To Understand And Solve Your Customers’ Problems

Sites like Udemy give knowledgepreneurs a platform to convert their knowledge into courses to sell and make money.

Can you cook, dance, sing, write, teach, draw, paint, bake? You can write an ebook on virtually anything and self publish. The year 2020 opened up the era of remote transactions in a unique way, seize the time; it is the best time in to be a knowledgepreneur. 

Identify what your friends often call you on. Those things they always draw on your experience in, break them down into simple concepts, write them down, publish them as an ebook or a video course, and start selling.

All you need to start up a Knowledgepreneur business are:

  • A skill – an area or aspect of life you are knowledgeable in
  • Your smartphone or computer to record the course
  • Finally, the internet to upload and promote your content to your friends and family.

2. Home Based Business Idea 2 – Social Media Manager

Do you have a growing social media presence of your own, with a sizeable active following, and you know how to replicate your success?

If you are someone who enjoys surfing the net and actually have the flexibility to spend a lot of time on social media, there is one way you can start earning from what you love right from the comfort of your home – Become a social media manager.

A lot of businesses, corporate organizations, and busy professionals, are trying to build their brand and businesses online; thus there is an ever-increasing need for a social media manager. What is not so increasingly present are the social media managers.

As a social media manager, your job includes creating content, email marketing, community management, graphics design, developing or implementing digital strategy, run sponsored ads, help the business convert followers and so much more.

With this as a side-hustle, you can become a boss of your own, set your prices, make 6 figures monthly, work at your terms and you can pick who to work with and the good news is so many businesses need social media managers to keep their business running.

The next time you find yourself spending hours on social media, burning your data, maybe you could discipline yourself to learn some of the basics of social media management and start earning from your passion from the comfort of your home.

3. Home Based Business Idea 3 – Freelance Writing

Freelance writing means writing for money while working on your own and not being employed by an organization. It is an exciting business to start if you enjoy carrying out research and writing. 

You could become a content creator for blogs, write articles for individuals and organization. You can also set up your account on freelancing sites like Fiverr, Upwork, and other such websites, where you could get paid for your services. 

All you have to do is to pitch yourself as a writer, get testimonials from some clients, make your money and keep writing – all from the comfort of your home.

4. Home Based Business Idea 4 – Affiliate Marketing

Have you ever received a call from a friend asking for a recommendation on the best place to make a purchase? What did you do in that instance? Without thinking, you scan through your mind and recommend based on your personal experience. 

Every single day, people buy stuff recommended to them. You bought that car because you saw someone use it, you use your phone because someone said something great about it – it could even be from the advertisements.

Without knowing it, you have been an affiliate marketer. The unfortunate news, however, is that you have been getting zero commission for your efforts.

Instead of sitting on the fence, you could turn your love for products into a business. Welcome the latest affiliate marketer!

There are different products and services you can promote and earn a decent commission on.

Learn affiliate marketing here.

It can be online courses, products, and services. You don’t have to create the product; you don’t have to have sleepless nights creating slides and recording the class. All you have to do is tell people how amazing the product is and earn a commission.

5. Home Based Business Idea 5 – Home-based Chef

Many busy professionals love a good home-cooked meal. Still, they don’t have the time to make such mouth-watering delicacies they so desire: creating a huge gap and business opportunity for the business-minded individual.

If cooking is your passion and you’ve acquired the skill of making sumptuous delicacies, you can fill in this gap and start cashing out.

You don’t need to operate a traditional restaurant to earn money out of your culinary skills. You can use your regular kitchen utensils to prepare meals right from the comfort of your home, package them neatly, and deliver to paying customers.

You can start with friends and family and once they are satisfied, trust them to become your ambassadors.

6. Home Based Business Idea 6 – Backyard Farming

You can convert the extra space around your home to farmland where you can cultivate vegetables and other crops. One of such home-based farming that performs well is snail farming.

During the rainy season, my mum converted the extra space in our home to grow corn, beans, yam, groundnut, and okra and after 3 months, we have hundreds of maize to eat and sell.

In my case, I farm snails. Snail farming does not need much capital to get you started, and the returns on investment in snail farming are huge.

Suppose you’ve got extra space around your home. In that case, you could consider turning it into a mini farm and cultivate homegrown crops for personal consumption and sale.

You would be shocked at how many things that a Nigerian might go into and make lots of money from, in Nigeria.

Suggested: Sources Of Funding For Small Business Owners in Nigeria

7. Home Based Business Idea 7 – Hairdressing And Beauty Services

Everyone is so concerned about their physical appearance, especially women, with the changing lifestyle of people brought about by the COVID-19. 

With the current stay-at-home trend, many people now prefer to have their services rendered to them at the comfort of their homes. These include getting their hair and face done. 

If you possess this skill, now is not the time to think about opening a salon, you could quickly begin to provide home service to your clients and get paid for it.

Home Based Business Idea 8 – Start a Book Club

If you love reading books, then starting a book club with friends is a great way to make money while sharing your passion. You can either charge each member a monthly fee or offer members free access to your library. Either way, you’ll need to find a good location for your group to meet. Consider renting out a room at a local coffee shop or having meetings at a community center.

CONCLUSION

You have no excuse to be broke. Start generating wealth even from the comfort of your homes.

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