5 Best Home Based Businesses To Start Now
Best Home Businesses To Start With No Money in 2023
SIDE HUSTLE CONCEPTSSIDE HUSTLE YOU CAN START FOR UNDER $100
Everywhere you look when you research various side hustle concepts, especially home-based concepts. You always come across the same concepts such as affiliate marketing, Amazon, dropshipping, Freelancing, print-on-demand, and content creation. Now these concepts are good, and you can make money with them. The problem with the popular side hustle concepts that no one talks about is the fact that there is a tremendous amount of competition that you will be competing with.
Here is my list of the top side hustles to start in 2023 With Little To No Money, in no special order
1 — White label products
If you are considering creating and developing a brand, It is best to have your own identity, especially when you are looking at offering a product line. Now this can be very expensive and time-consuming to set up, or is it? There are many companies that have already designed and created the product for you and are looking at putting your branding on their product. All you need to do is find a product manufacturer that suits your needs and then design the label for that product. Now, if you can locate a company that will not only produce the product when an order comes in and then ship the product to the customer for you. This potentially could be a home run for you as this means no inventory to stock, and you can then run this business model from anywhere in the world. Some suggestions for white-label products are vitamins, clothing, health and wellness products, makeup and skincare, software, and apps. The list is endless. Just a simple Google search such as "white label vitamin suppliers" and your time is all it will take.
2- Use Affiliate Marketers To Market Your Products and Services
By now, everyone has heard of affiliate marketing, especially if you have done any research into side hustles. There have been countless individuals jumping on the affiliate marketing bandwagon, and honestly, starting out with affiliate marketing can be hard due to all the completion with the other marketers.
Now my outlook on this is, why jump on the bandwagon with everyone else when you can be the bandwagon that everyone wants to jump onto? As an example, say you create your brand like I just mentioned above. When it comes time to market your brand. Why not utilize affiliate marketers on your website or landing page? There are several affiliate sites that you can use to find affiliates like www.flexoffers.com and www.cj.com. You can also run your own affiliate program using affiliate management software. There are numerous affiliate management software options out there, and they are easy to set up. Most will have tutorials on YouTube where you can learn how to set up the programs.
Though affiliate management software can be expensive to purchase. There are options where you can pay a small monthly subscription fee. When I first started out doing this. I set everything up through Shopify. I also found using Shopify’s all-in-one platform makes the integration and learning process easy and affordable. Some affiliate marketing software options are Affiliatly — which comes with a free trial and costs $16/month. The program option I started with is called UpPromote and offers a Free plan for up to 200 affiliates. Pro plans start at $21.99 per month. Like always, do your research to ensure that everything is a good fit for what you want to do
3- Drop Services
What is drop services?
Everyone has heard of dropshipping, where you find a product supplier and then sell the product at a higher cost. You pocket the difference between your supplier's cost and your retail price. Drop services is the same concept but with a twist. The only difference is you are not selling a product, but you are selling a service instead.
The way drop services work. The first step is to search on some freelance websites such as Fiverr and Upworks for a service to market. The next step is to build a spreadsheet of potential freelancers with good performance ratings and reasonable prices. I would recommend starting out only offering services that you are familiar with. The next step is to then market that service for a higher price than the freelancer charges. When you land a job, you hire a freelancer to perform the task for you. The client pays you, and you then, in turn, pay the freelancer, pocketing the difference.
Essentially you are acting as the middleman for the freelancer. Drop service is also similar to how a general contractor works, where he subcontracts out the work and or jobs he doesn’t want to do themselves. Some service examples could be
Social media marketing
Graphic and video design and creation
4-Flipping Digital Real Estate
Everyone has heard of the term flipping houses and or products. Flipping digital real estate is similar and along the same lines, but you are creating, and or buying, and selling digital-based products such as websites, domain names, and even blogs. For this article, I will be discussing selling websites and domain names only.
How Does Flipping Digital Real Estate Products Work
When selling digital real estate, there are several options. You can create a digital product like a website and then sell it. You also have the option of purchasing a pre-existing website to flip after improving the performance of the website.
To do this. Some basic steps are required. If I am building the site. I will start by using a domain appraisal tool, such as the free tool on GoDaddy, to evaluate the potential value of a given domain.
When I come across a domain name that appeals to me and I feel has great potential. I will purchase it. I will then take this domain and build a website. With the website completed. I will have two options.
1- to sell the site with no traffic and monetization for a quick sale.
2- Take the time and monetize the website with several income streams.
The income streams I like the best are ad revenue, affiliate links, paid memberships options, and of course, using affiliate marketers to help advertise the site. I will also consider other income options, depending on the type of website. The second option that I described will take longer and includes more work. But, the financial rewards can be more rewarding as most established websites will sell for a multiple of their yearly revenue.
Another option is to purchase a website from an auction website like www.flippa.com. The goal is to improve the website's overall performance by increasing the traffic volume and monetization and then selling the website for a profit
Another form of digital real estate flipping is domain names. There are several auction websites where you can bid on domain names that aren't associated with a website. A cheaper option is to search out domain names that are about to expire. Before purchasing any domain name, I would verify the value first. A free appraisal tool like the one available on GoDaddy.com is a good option.
Once you have purchased the domain, the next step is to find a buyer. To do this, you can place it up for auction or sell it outright. There are several sites where you can sell your domain, such as GoDaddy.com and flippa.com are just two examples