The ongoing pandemic conditions have put a financial strain on the breadwinner. Therefore, many women have switched hobbies into successful businesses. Moreover, the rise of women entrepreneurs became higher than ever during the pandemic to generate additional household income.
Therefore, the burden of paying for bills and other expenses is no longer falling on a single person. Moreover, parents can have become proactive in opening savings accounts for children to save college and emergencies.
Unfortunately, certain businesses ideas become impossible to begin without the right funding. However, it requires presence in the market and experience in the field. However, businesswomen attain both aspects by entering into a few popular and lucrative startup options.
5 Profitable Home-Based Business Ideas for Women
Single and married women can always enter into online selling through platforms like Amazon and eBay. But, optionally, women entrepreneurs can sell products on a self-developed website and avoid the cost of the platform.
Unfortunately, creating a secure website and using a secure payment platform would require funding, continuous attention, and service payments. Meanwhile, selling on e-commerce platforms requires product placement, filling details, and deductions during every transaction.
But selling on an e-commerce platform would not require maintenance and management. However, as a seller, it is essential to obtain online retailers insurance for stock protection and recover from unnecessary legal fees.
Women with expertise in an area or subject can start providing online consultation. But, again, it is a profitable business idea that focuses more on providing value to the consumer than the job title.
Moreover, women can become consultants in different backgrounds such as finance, administration, soft skills, conflict resolution, money management, etc. The easiest method of starting this business is publishing the details on social media platforms.
Women entrepreneurs can reach out to colleagues from previous organizations and information about the consultation. Updating titles on different online platforms can help to gain the attention of the viewers. Social Media Marketing practices can prove beneficial in this regard too.
One of the most trending jobs for working mums is a virtual assistant (VA). It requires a continuously working internet and a computer to answer complete administrative tasks and others. Moreover, VA’s can work from anywhere provided they complete the assigned tasks.
Additionally, unlike other jobs, there is no break limitation in VA’s unless the recruiter or the head mentions it. Therefore, it becomes easier for a working mum to complete other household chores. Hence, it is becoming very popular among mums.
Besides, loans for women can help to invest in the required equipment expenditure. Moreover, the monthly income would help cover up the repayments and still have money in the savings account.
Affiliate marketing is unlike developing and selling self-made products. It means women can attain a portion of profits from selling a product of another manufacturer. However, this commission-based practice requires an e-commerce platform.
Additionally, women that want to become entrepreneurs in this field must become familiar with marketing practices. The process of recurring monthly commission (i.e., income) through this process would require connecting with the supplier or using third-party platforms.
Even Amazon offers an affiliate program to sellers. However, driving sales through affiliate marketing requires consistently increasing traffic on the website. Therefore, it would entail all forms of marketing practices to generate sustainable monthly income.
Women can start personal fitness, accounting, event management, language, and other coaching or training online. Unlike offline service providers, these service-based training and webinars can help to reach a wide audience.
It means women can make their mark in a particular field throughout the world. Moreover, many online websites offer to enlist services online and taking the training. Therefore, the business does not involve any additional investment.
Unfortunately, the website would take a fee for enlisting a profile. Additionally, the costs might incur per session or for the whole course. However, women entrepreneurs can make a living by attaining positive feedback and even make deals with the service provider after attaining a market reputation.
Besides this, women entrepreneur can hire a website developer after accruing sustainable income and incur the full course costs. These type of services prove extremely beneficial for teachers, trainers, and coaches.
Alternative Home-Based Business Ideas for Women
Women can start a YouTube channel and earn revenue through Google Ads. Similarly, fields like transcribing, user testing, Airbnb host, agency, market research, IT support, fundraiser, PR services, accounting, etc., are viable options.
Likewise, creative home-based business ideas include copywriting, graphic designing, photography, event planning, social media management, etc. Besides these, dropshipping has become a fairly lucrative and trending business idea for men and women.
Dropshipping is easy to scale, needs low cost for a startup, and doesn’t require purchasing inventory. Primarily, it entails setting a website for selling products of different foreign manufacturers and taking orders.
After that, you would forward the orders to a factory or manufacturer, and they will dispatch from the site. However, the burden of customer fulfilment and marketing falls on you. The last hopeful business idea for women is filling surveys or feedback forms.
Primarily, it involves using the products or services of a company and inform about the user experience. Therefore, it is particularly a straightforward process and does not involve marketing practices.
Moreover, surveys could consist of between four to forty questions or even more. Therefore, they can become time consuming for mums. According to a source, most reviewers have not used the products but filled the forms based on experiences mentioned on other websites.
Therefore, the task of completing the feedback forms or surveys becomes fairly easier and profitable. However, women planning to start a business or a franchise should avail business loans for unemployed, startup loans, etc.
The loan can provide funding for the company, avoid borrowing from friends and help to recover from debts.