Heading into 2024, the economy’s looking a little shaky.
First, it was the pandemic, then the election.
Now we're getting hit with breakdowns in the supply chain and the highest inflation rates since 2008.
Not exactly a recipe conducive to profitability.
But some businesses are still thriving and continue to drive sales and cash into the pockets of entrepreneurs.
- How?
- Which industries?
- What's their secret?
We started nosing around and were able to find the 105 profitable home business ideas.
Suggestions that have the potential to put money in your pocket.
But before we get going, allow me to share the quick 411 on my story.
ABOUT THE AUTHOR
Hey, I'm Ippei!
I lived on the other side of the fence and know what it's like to go through life paycheck to paycheck.
After I finished college, I did the 9-5 grind and hated every minute of it.
I hated being broke, always worrying about money, and not living my life on my terms.
I tried my hand at a few online businesses and was pretty successful, but then in 2014, I found this program.
A business model that taught me how to rank websites and generate leads for local business owners.
Just like this tree site I built in 2015 (one of my first lead gens) this site has been making me $2000/month for the last six years.
Lead generation has allowed me to gain a passive income and live on the other side of the fence. And I promise you it's a lot nicer over here.
Want to learn more? Check out this link.
Skilled Trades
1. Property Management
You're the head cheese when the big cheese isn't around. Property managers oversee real estate and are the go-to for daily operations.
From addressing maintenance and repairs to screening tenants.
Or marketing vacant units and collecting rent, property managers are the link between owners and tenants.
Double-check that you don't need a license. And it helps to have a background in real estate but isn't a mandatory requirement.
Barrier to entry is low, and you're looking at start-up costs around $2000-$10,000 as per this post.
Successful candidates for this profitable home business idea should have a few character traits like:
Well Organized & Excellent Customer Service Skills
Networking Finesse & Marketing Expertise
Empathetic & Project Management Skills
Paid a percentage of rent generated by the property, earning potential is around $50,000-$60,000+/year.
Interested in learning more? Check out this article that shares tips on getting started.
2. Landscaping Company
The landscaping industry has experienced a massive boom thanks to people spending more time at home over last eighteen months.
Homeowners with cash and nowhere to spend it are now coughing up dosh to redesign their outdoor living space.
Landscaping is a $105 billion industry and offers the opportunity to go into various sub-niches like lawn cuts, garden services, design, etc.
A competitive playing field you're looking at startup costs anywhere between $2000-$15,000+ as per this post that also shares a few pros and cons of the biz like:
Pros
Cons
Profit margins are around 5-10%, and depending on the size of your enterprise, annual income is between $50,000-$100,000+.
If you're not afraid of some hard work and a little dirt, this post shares industry tips on starting a landscaping business.
3. Handyperson
You might not become an overnight sensation with this idea but you can make some solid cash as a handyperson.
You could get going with as little as $500.
But most successful entrepreneurs budget for $2000-$5000 as per this article to hit the ground running.
You're going to need a few skills as per this post like:
Knowledge of building & construction
Problem-solving ability & customer service experience
Skills for repairing & maintaining equipment/appliances
Attention to detail & time management
The key is to specialize.
- Who is your ideal customer?
- What skills do you excel at?
- Do you need a state license?
You can make upwards of $100/hour as per this article that also shares information about the industry.
4. General Contractor
Not a low-cost startup venture. But owning a general contracting business is a highly lucrative business proposal.
You're looking at an initial investment of $15,000-$20,000 as per this article.
No formal education is required, but you need a license.
And should have a solid understanding of a few fundamentals like the ones listed in this post, which include:
Build a client base or connect with an agency and general contractors stand to earn upwards of $70,000-$95,000/year.
5. Carpenter
If you know your way around wood, you've hit pay dirt. Carpentry in the United States experienced a 9.4% growth rate in 2021 and continues to soar.
An investment from $1500-$25,000+ as per this post to get started, it really depends on the tools and equipment you already own.
With annual payouts sitting between $48,000-$85,000+, there are a couple of pros and cons to consider before diving in.
Some outlined in this post include things like:
You'll need a license and insurance, but if you're into this profitable home business idea, this article offers an a-z guide on starting a carpentry business.
6. Drywall
Drywall is big bucks in the construction industry and is headed for a surge of growth as the housing market, and new builds continue to climb.
You don't need a ton of equipment minimizing startup costs, but you do need to know the trade.
