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Home Based Business Ideas Canada
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Welcome To Conceptual Hair Tools
When you think about owning a business, you might think about renting commercial real estate, moving into an office, or managing employees.
But with the rise of home businesses, more and more people are finding ways to use remote work to pursue entrepreneurship with their headquarters at home.
In today’s connected world, where technology gives us more flexibility in how and where we work, home-based businesses come in many forms.
Some require you to turn a spare room into a mini-warehouse for products, while others can be run entirely online. But generally, you can start these types of businesses using your existing space and means.
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A home-based business is a venture—whether full-time or a side hustle—that you can start and operate using your own home as your base of operations. A few home-based businesses, especially those that sell online and don’t carry a lot of inventory, can even be run on the go — you don’t have to be confined to your home.
Naturally, there are pros and cons to consider when deciding whether a home-based business is right for you.
While there are many ways to start a home business, here are some accessible ways to create your own home business:
Many businesses center around the simple concept of importing goods in bulk and selling them individually for a profit.
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You may have recently traveled abroad and found unique products that are not readily available despite the appetite in your market. Or maybe you have a niche and know the right products to serve its customers.
Either way, if these products are relatively easy to store and ship, you may have a solid home-based business idea on your hands. For example, blue light blocking glasses are small and durable enough to keep in your own home.
Artemis Design Company can even use your home as an initial showroom to sell locally. It gives you the option to expand with additional storage space and staff as you validate your idea and begin to grow sales.
“I was living in the South End of Boston, and my living room was full of these products. If people wanted to see something or try something, that’s how I made my first sale.” Millicent Armstrong, Artemis Design Co. 2. Sell homemade products
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If you’re a maker yourself (or know someone who is), you can also consider turning your hobby into a business. Even if you have to create your products in a studio, commercial kitchen or workshop, you can store and sell them in your own home.
With the ability to control almost every aspect of the products you sell, you can make them more cost-effective, improve their quality, or target market demand and offer them to specific audiences.
Whether you choose to start on a marketplace like Etsy or create your own branded storefront, selling your creations is a great way to share your passion with others and make money. Be aware of restrictions regarding products that customers consume or put on their skin.
Best of all, making your own products doesn’t have to be overwhelming. When you’re ready to scale, you can establish a process and onboard new employees to help with production.
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Do you have a product ready to sell? The Guler family shares their experience building a business around their mother’s cookbook. From selling one-on-one to hitting the aisles of Whole Foods.
So far, we’ve covered business ideas that require you to have inventory in your home. But there are several ideas to pursue that allow you to take the cargo and ship off your hands.
These businesses use a model where a third party manufactures, stores and ships your products on your behalf, leaving marketing and customer service as your main responsibilities.
Your dropshipping supplier can be local or overseas, but you need to make sure you find a supplier you can trust to provide a consistently great customer experience after the sale. Always do your due diligence or risk your business reputation.
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There are even apps like Oberlo that connect you with suppliers to import products into your own store while streamlining order fulfillment.
At its core, dropshipping involves becoming a distributor of a third party’s products, taking on marketing costs (time and money) in return for a margin when you sell. This can turn your product into a commodity in many cases with limited opportunities to brand your customer experience. Fortunately, there are a few different ways you can compete even if your products aren’t in short supply in the market you sell to:
If you’re interested in learning more about starting a dropshipping business, check out The Ultimate Guide to Dropshipping.
Using a similar dropshipping model, a print-on-demand business doesn’t require you to hold any inventory or ship it yourself. Demand printing gives you more flexibility to customize white label products with your own creative designs.
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There’s a wide variety of products you can sell: books, t-shirts, hats, backpacks, blankets, pillows, mugs, shoes, hoodies, phone cases, watches, and more, depending on the supplier you choose to work with.
Many print-on-demand businesses focus on providing a specific niche or, better yet, a shared identity. What are people passionate about? Tell us about yourself? From pet owners to vegans to gamers, there are plenty of communities of interest that you can develop products for.
If you have design skills, you can create your own designs. But if not, you can always hire the talent you need.
For a full runthrough of how Print on Demand works and how you can get started, check out our Print on Demand guide or take our video course on Academy.
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Services are simpler than products to start selling at home, but the challenge is devoting your time. “Time is money” is no more true than when you run a service-based business.
Creative professionals, such as designers or marketers, may freelance or consult with other companies, juggling multiple clients and often traveling from their own home office. Others may operate on the basis of appointments and bookings to provide their services directly to individuals.
Service-based businesses require a lot of networking and word-of-mouth referrals to find suitable customers, but satisfied customers will retain your services over time and continue to give you their business.
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For this reason, you don’t need as many customers to do well as you would a product-based business. Depending on the service you offer, a few high-quality clients are enough to support you full-time while working from home.
As we have just discussed, one of the biggest drawbacks of running a service-based business is that you are strictly paid for your time, talent and effort.
“Productizing” your service—creating digital or physical products that enhance your expertise, and streamline or complement the service you provide—can add additional revenue streams to your business. You can complement your existing customer base or find a new target customer in the same niche.
As you can see, most of these ideas are packaged digital media into products, meaning no inventory to keep around the house. If you’re running your home business in , you can seamlessly sell digital products using digital downloads or the SendOwl app.
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If you want an example, you can listen to how the owner of Retro Supply used his design skills to generate passive income below.
If you’re a content creator, already have a sizable online audience, or have always thought about starting your own blog, YouTube channel, Instagram account, or podcast, you can grow your following and gain a following using any of the previous ideas. In this list.
On top of that, you can explore becoming an affiliate – selling other products or services for a commission, or accepting payment for sponsored posts to give brands a chance to connect with your audience.
Building a loyal audience requires patience, consistency and focus. It’s not the easiest way to start a home-based business, especially not in the short term, but if you can build a following around something you love, you’ll find it very fulfilling and lasting. Flexibility to pursue multiple revenue streams simultaneously.
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The potential to monetize your audience largely depends on the niche you choose to serve. If you’re just starting out or growing your own audience, stay tuned