As the cost of living continues to rise, affording a comfortable lifestyle may be a challenge with just one source of income, especially if you have mortgage to pay.
This may not be the only reason for people to draw additional revenues. Even with a high-paying job, you may want to save a certain amount for a secure future.
Employed people try to capitalize on their existing talents and skills by using them to run a home-based business.
Here are four part-time home-based business ideas you can implement to earn some extra money:
If you have exceptional writing skills, excellent command over languages, and an eye for detail, you can make extra income as an online proofreader. As the job description suggests, online proofreaders help website owners edit content for their web pages, enabling them to offer engaging content to their visitors. They are also responsible for examining the credibility of the sources, page elements, specifications, and spacing in editorial projects.
With the number of websites increasing at an exponential rate, this becomes an opportune time for online proofreaders to work on several projects and get paid.
If you are considering becoming an online proofreader, you should set up a business website so that clients can know about you and assign you jobs. Do highlight the specifications of the editing and proofreading services you can offer. Showcase a few of your works, set prices/packages, and mention your contact details.
Enroll yourself into online editing and proofreading courses and certification programs to get professional training. Also, it helps if you are already familiar with some of the widely-used writing style guides, including the AP Style Guide, the Yahoo Style Guide, the Chicago Manual of Style, the New York Times Manual of Style, and the AMA Manual of Style.
When it comes to remuneration, an average proofreader in the United States is likely to earn USD 26,000 – 61,000 per annum.
Whether or not you are working in the education sector, you can use your proficiency in a certain domain to enter the tutoring business. Identify your target audience and the niche skill/subject you want to teach them. Figure out if you will be comfortable teaching high school students, or students of other age groups.
Once you’ve identified your target audience, reach out to them on the Internet. Set up a website for your business in accordance with the laws and regulations that are applicable to home-based or small businesses in your state. Visit the Internal Revenue Service (IRS) website to apply for an Employer Identification Number (EIN) that acts as the Social Security number for your business.
Technology makes tutors accessible across time zones and limits travel expenses. Further, it increases the types of tutoring options including computer tutoring, SAT tutoring, and even language tutoring, where you can help people learn English.
You can work with online tutoring sites such as Tutor, Skooli, WyzAnt and Chegg that hire tutors with expertise in certain academic areas, and can come up with creative ways to teach school kids, college students or adults.
Strong written communication skills and the ability to write persuasively are required to become a resume consultant. This profession does not require a formal education/degree; however, courses in English, journalism, communications and/or business management offer the necessary skills that can help you excel.
Based on industry trends and the level of technicality involved, put together a price range that justifies your professional services. Know about the different fields you can specialize in, such as legal, accounting, sales, tech, insurance, healthcare, etc. You can always be a generalist resume writer and work with anyone, but it is much more lucrative to opt for a specific niche.
Obtaining certifications in resume writing can add to your credibility as a professional and help you establish yourself as an expert in the fraternity. Some of these certifications include the Certified Professional Resume Writer offered by the Professional Association of Resume Writers & Career Coaches and the National Resume Writers’ Association Certification.
On an average, resume writers in the United States earn USD 150 per hour, and this price may increase based on the writer’s expertise.
This is one business opportunity that requires an equal mix of expertise, passion and aesthetic sense. The lack of any of these aspects will make it difficult for you to survive in this business.
If you are starting off as an amateur photographer, you should build some skills with the help of online tutorial programs. For instance, Lynda.com is an online photography tutorial website that offers enormous amounts of information and techniques about using Photoshop and Lightroom, and hosts web designing lessons. You can try KelbyOne training as well as this platform is focused more on actual photography and editing software.
The next step will be to create an interesting website to showcase your work. This is where most people will get to know about your work. For your first few photography assignments, you can reach out to weekly newspapers as they are always looking for freelance photographers. You may not be paid as high as professionals in studios, but you’ll definitely learn new tricks and expand your network.
Further, you need to determine how much you are going to charge your clients. Pricing can be the most annoying thing to figure out, especially if you are new in the business. Attend photography learning sessions and meet-ups to get an estimate of how much other photographers charge.
5.Real Estate Agent
This is definitely a great profession to generate an alternate revenue stream. Starting out as a part-time property manager can help you understand how the real estate industry works while, making big money through commissions.
Among other aspects, the primary role of a real estate agent is to organize and manage the letting of commercial and/or residential properties on behalf of their owners. Your job will involve contacting people looking to buy or rent these properties, and liaising with the owners/builders to finalize the deal. Further, you will be responsible for conducting regular inspections and maintenance drills of the properties, and ensure that all dues are paid.
Get in touch with a local broker who can hire you on a contractual basis. This can help you in the initial stages as you can use their resources and learn from other real estate agents. Use this time to build your contacts within the industry and understand sales lead sharing procedures that will help you in the future.
The challenge with running a part-time business is that you may not be available for client meetings at all times. Use technology to your advantage, and email your prospective clients about the available properties that fit their requirements.
Most states in America require property managers to undergo a training program and take a certification test before practicing. Get in touch with the National Property Management Association to know more about the course that focuses on property management, business, and teach you relevant accounting skills.
In the United States, real estate agents can earn USD 133,000 – 180,000 per annum.
Running a part-time business right from your home can help you earn extra money, cut operational costs, and even open up an opportunity for you to take up a new career. If you are passionate about a certain activity and believe that it can be transformed into a business proposition, then don’t hesitate to go ahead.
Start small with limited financial investment if you don’t want to take a huge financial risk. If all goes well, you will be able to create multiple sources of income for yourself in no time.