Did you quit your job because drudging nine-to-five wasn’t your cup of tea? The bitter truth is that working nine-to-five is hard. Not surprisingly, a record 50.5 million submitted their resignation in 2022. Economists call it the “real year of the Great Resignation.”
After you quit your job, you might feel good since you get time to relax and do whatever you like. But what do you do after a few days or weeks? Sitting idle can literally take a toll on your mental health.
Fortunately, you can keep yourself occupied by starting a home business. Many people assume that launching a business requires a hefty investment. Even the risks that follow will be high. But that isn’t the case.
It is highly possible to start a business from home without any investment or significant risks. In this article, we’ll explore some home business ideas that require zero upfront investment and carry minimal risk.
#1 Sell Handcrafted Items
If you’re talented enough to take a raw material—wax, wool, paper, or anything else—and turn it into something beautiful, launching your own craft business would be a great idea.
The U.S. handicrafts market, which was valued at $294.4 billion in 2023, is anticipated to generate a whopping $627.5 billion by 2032. Cultural appreciation for handicrafts and the desire for one-of-a-kind and personalized goods drive the market.
Be it candles, jewelry, artwork, or home decor—there are a lot of things you can sell online. Figure out what you’re good at and sell that only.
Platforms like Etsy allow you to reach a broad audience without significant upfront costs. Leverage them then. In 2023, there were 96.2 million buyers on Etsy. Even social media sites like Instagram are great places to sell handicrafts.
Click high-quality pictures of your creations and upload them on online marketplaces as well as social media platforms. Participate in local craft fairs and markets. You will gain a lot of exposure and connect with your potential customers. Offer room for customization, so you can cater to the needs of different people. This will also help you build a loyal customer base.
#2 Run Print-on-Demand Business
Consumers nowadays are increasingly seeking home decor, apparel, accessories, drinkware, and other items. Why not capitalize on the opportunity and sell custom products? A print-on-demand business will allow you to do just that.
A print-on-demand business is similar to dropshipping since you can create and sell personalized items without the need for significant upfront investment or inventory management. This is a no-investment and low-risk business model since the third party handles everything from printing to shipping.
T-shirts might be popular print-on-demand products, but the model isn’t limited to them. Mugs, caps, phone cases, tote bags and backpacks, sweatpants, leggings and joggers and bean bag chairs are other worthwhile options.
Experts predict that the U.S. print-on-demand market will grow at a CAGR of 16.87% from 2023 to 2033 and reach $8,890.1 million.
Social media can help your print-on-demand business grow since over five billion people use the platform. Use Instagram, Facebook, and TikTok to showcase your designs, connect with potential customers, and drive sales.
Build a website, too. Reportedly, 34.4% of internet users in the U.S. discovered new brands and products through search engines. A website is crucial since that is the only way your business can rank high on the SERPs.
Taking the traditional route of hiring a web developer will cost you a lot of money. Save that and use an AI-powered website builder instead.
Powered by artificial intelligence, Hocoos notes, these website builders allow users to create websites without any design experience or coding skills. Just set the parameters, and the AI wizard will build a website tailored to your needs in a few minutes. The website will be full of high-quality images and SEO-optimized content. Still, you can edit everything from A to Z before you take the website live.
#3 Start a Pet Care Business
For those who are fond of pets, nothing could be better than hanging out with them all day.
Approximately 86.9 million homes in the U.S. own a pet, of which 65.1 million households have a dog. These figures indicate that starting a pet care business is lucrative in the country.
Almost all dogs need to be walked once a day. Pet parents don’t usually have time to walk their canine companions due to their busy schedules. Thus, they seek dog walkers. You can offer dog-walking services to such pet parents. On average, you can earn $16/hour as a dog walker.
You can also offer pet sitting and overnight care services. Whether you decide to be a pet sitter or dog walker, creating a professional profile on platforms like Rover or Care.com is a must. That will help you connect with clients in your area.
In a nutshell, you don’t have to invest a lot of money to start a business. There are several options that require zero investment with minimal risk.
Whether you choose to offer pet care services or sell handicraft items, there are countless opportunities to achieve financial independence. Just remember to start small, stay adaptable, and continually refine your approach. It will help you meet market demands, leading to long-term success.