Types of Businesses that you can start from home right now!
Being an entrepreneur means being on the go at all times. No matter what the market conditions are, you are always expected to be one step ahead of any unprecedented event, and perform in the face of all adversities. This, however, becomes especially tough to navigate amidst an ongoing pandemic. Juggling a lot of things while still managing to keep your business afloat is no cakewalk.
But, not everything is bad. There’s a silver lining in this grey cloud too. With the advent of the pandemic, the world has fully been able to gauge the boon of online services. Right from running businesses to online learning, we have shifted online. So why can’t your business do the same? Here are some businesses that can run online and yield the same, if not better results and be successful in the worst situations as well.
So, without any further ado, here are the types of businesses you can start or continue to run right from your home:
Finance can be one of the most adaptable fields online. As a person in finance, you are mostly working off of a laptop or an electronic device, and with the help of team working websites and applications, you can carry out your tasks easily. With the help of software like Microsoft Teams or the whole Google set up with shareable links with spreadsheets, documents and information in many other formats, working from home has become much easier.
However, you must hold a certain degree or qualification in this field. You could be a chartered account or a finance graduate to take up work like this and do it efficiently. If yes, you can manage portfolios of small companies, file their taxes, look over mergers or acquisitions, or even offer consultancy services for their financial needs.
2. Digital Marketing🔅
One thing that has not stopped during the pandemic is advertising and marketing. Right from account managers to graphic designers and creative professionals, everyone is working in harmony to ensure that the clients’ needs are met. Everyone is communicating and meeting targets from home, and businesses have managed to sail.
On social media, especially, it has become easier to run a brand’s page from home. Simply with some coordination with the content and graphics team, a digital marketing agency can easily keep up with the social media engagement of their client.
3. Food Channel🥘
It is no secret that everyone is at home in isolation and is looking for recipes they can cook -- right from simple recipes to fancy food items; you can find an audience for anything these days. Once you identify what you are good at, all you need to do is start testing the waters and figure out which platform and what type of content works best for you.
Depending on your audience, their demographic and their attention spans, you can either create short and quick recipes or detailed and in-depth descriptions.
4. Homemade products🥪
Right from papads, pickles and spices to homemade candles, greeting cards or decorative items, homemade gifts and products are gaining popularity these days. People have become more receptive towards local products and have started understanding how to support the economy from grassroots. Hence, one can easily witness a surge in small businesses and enterprises as compared to earlier, when people preferred to do business with corporates.
First, take small steps and understand the people in your locality or people who are in similar professions. Once you identify this need, you can easily work towards fulfilling it.
5. Educational services from home🔡
Online classes, lectures and conferences have gained a lot of traction ever since people have made the shift to digital mediums. With the help of several online platforms, we are essentially able to conduct everything as it was from the comfort of our homes. Video conferencing as a feature always existed, but we never realised its full potential until we had no other option but to use it.
Once we did end up using it, we noticed that seminars and conferences along with live news watching, sports, etc., could all be accessed online. Amidst this, it would not be a stretch to say that you too can make this online shift and build your business online. A lot of online courses websites like Coursera and Udemy are some of the prominent learning platforms that you can take advantage of.
6. Tiffin services🍱
Women are no doubt at the forefront of this line of business. During the pandemic, many of them have put their skills to use and started running a tiffin service in collaboration with local delivery men. The main advantage of this business is that with minimum investment, you have a solid income coming in just by doing what you do every day. If you are a good cook, there can be scope for a lot of local orders since many people are living alone, who do not have the luxury to eat homemade food and end up ordering from outside.
You can come up with some basic recipes and select a plan most suitable for you and your customers regarding the number of times the tiffin will be sent and what the charges will be for the same. This is how you can start by building your business and go ahead from there.
7. Garment stores👕
If you are a supplier or someone who has experience in the field of garments, you can easily conduct a business online through social media platforms. All you have to do is stock some raw material, invest in a tailor and machine, and there you have it! Your very own business. Soon after you start working, you can upload your pictures and collection online and start receiving orders from there itself.
Once you start getting bulk orders, you can even consider hiring someone to carry out your deliveries. If you are someone who is a creative professional, it is even better since you are the mind behind the whole operation and are conducting the business on your own as well.
8. IT business and services👨💻
Right from making websites for small companies to designing software for new ones, the work of an IT professional can be carried out from home with much ease. If you are well-versed with coding languages, you can start by taking account of a company and doing some basic operations for them. Start with freelancing, and if you think your business is growing, you can easily employ a few more people, even if it is for non-core activities. With the help of digital technology, you wouldn’t even have to hire an office space since everyone would work from home after their jobs have been assigned to them.
These are just some examples of the type of business that one can conduct online. If you put your mind to it, you can convert almost any business online with the right management and technological solutions. Even local grocery stores and kirana shops have started making the shift very easily with the help of such systems in place.
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Q. What are the types of businesses I can do from home?
Ans: Right from finance to handicrafts, a lot of businesses can be run from home. With social media and video calling made easier, a lot of people are running entire corporations from the comfort of their homes.
Q. What documents do I need to run a business from home?
Ans: A small business might need the following documents:
- A company PAN card
- A GST registration (for retail businesses)
- A partnership contract (optional)
It is important to note that depending on the type of business; these requirements can change. Look into the specifics of your enterprise and arrange the documents accordingly. These are just some basic documents that small businesses in general require.
Q. Can I expand my career opportunities from home?
Ans: Yes, of course! A lot of people build a very small business and take it to new heights right from their home. Before they shift their businesses to proper office space, most start-ups see their beginnings in the humble settings of a home or small office space.
Q. How have small businesses changed during the pandemic?
Ans: Businesses have adapted to the pandemic solely by relying on software and applications that make it easier for them to communicate, allot and carry out their individual tasks. Right from Microsoft Teams to Google Meet and Zoom, companies have sailed through various challenges with great help from technology.
Q. What is the future of small businesses after the lockdown?
Ans: Since people have become more and more aware of supporting local and small businesses, there is definitely a lot of scope for you to grow. Starting now can ensure a good and firm foundation for the future. A lot of businesses will see a growth in demand after normalcy returns, and you can capitalise that for your benefit.
Q. Is it cheaper to run a business from home?
Ans: Absolutely. Right from electricity costs to office lease and rents, you save a lot of money by working from home. Especially if your office is in a popular commercial area of the city, the rent itself makes a huge hole in the pockets of most companies. In that case, working from home will save a major cost. Travelling and other related costs can also be taken care of easily by working from home.