4 Home-based Business Opportunities for You

After a defeat, it is the time to rise again! Besides starting your business in the business landscape, now think of starting home-based business opportunities
  • BY Jaspreet Kaur

    Feature Writer, BusinessEx

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  • Oct 15,2020
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  • 11 Mins Read

In the crisis, running a business has become difficult. Paying off rent and remuneration are some expenses that cannot be wiped out. Owing to the reduced demand, survival has become daunting for entrepreneurs. Consequently, a large number of enterprises have closed its shutters. In this chaos, many entrepreneurs have been deciding to start afresh.   

After a defeat, it is the time to rise again! Besides starting your business in the business landscape, now think of starting home-based business opportunities. Establishing and operating a business at home is comparatively easier and cost-effective. You can even use the home space to store some inventory as well.

Here are some of the home-based business opportunities that you can grab hold of. 

E-commerce Business 

To initiate an e-commerce business, you can start storing products in bulk and then, selling it to customers through your platform. You can identify the type of products that you want to sell. You can also do a thorough market research beforehand. It will help you apprehend market demand and make better decisions. 

Once you finalise the products, then you will have to establish an e-commerce website or an online store. Later, you have to partner or hire logistics services to transport your product from the home to customers' address. In the initial stage, Flipkart had worked in a similar way. The founders of the e-commerce site operated the business for home for a prolonged time. By minimising their expenses, they reduced their losses and comprehended the market in a better way. 

Sell Jewellery and Candles 

As festival season is approaching, people splurge in buying fancy jewellery. They also buy candles for Diwali and other festivals. If you know how to make candles, then you can prepare candles in a variety of ways from colourful candles to flower shaped candles and so on. 

The candle-making process is long and requires precision. With immense practice, you can develop a good hand over it and begin selling candles to customers or retailers in the nearby market. In a similar vein, you can develop a hand over making jewellery. Jewellery-making is also an intense job that requires dedication. Apart from buying the jewellery, you can begin purchasing jewellery in bulk and start selling the product to the customers at a high rate. In this manner, you can begin selling jewellery and candles and make a good profit. 

Dropshipping Business 

Apart from delivering goods, you can just offer services in exchange of money. In a dropshipping business, you would not have to retain and sell the products. There will be a third party for whom you would be finding customers and handling customer services. In this way, responsibilities will decline considerably as you would only have to deal with customers regarding the services while goods will be handled by the sellers.  

You can start this business locally or overseas. However, you need to ascertain entrepreneurs who can deliver products persistently and help enhance customers’ experience. Before starting the business, it is important for you to probe the business landscape at local level and also, the background of the suppliers who you would be dealing with. 

In this digital era, there are a plethora of applications that can facilitate you in connecting with suppliers and streamlining your business.

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