There is a way for you to potentially earn a six-figure income from a home-based business. And it won’t require joining a multi-level marketing scheme or anything else that feels less than legit. How does that sound?
On Home-Based Businesses
The legitimacy of home-based businesses have been on the upswing for the past couple of decades.
That means the end is near for the “Stuff Envelopes For Cash,” or “Make money from home processing medical bills” ads found in your local paper or “Business Opportunities” magazine. Hopefully!
Part of the reason home-based businesses have a better image is because of the explosion of remote work. Some of which is pandemic-related. And remote workers have offices in their homes.
For proof, just think about how many of your friends and family members have home office setups. Nice ones, too!
But which home businesses can you own that can potentially make six-figures?
Check Out These Potential Six-Figure Income Businesses
The first business that can be run from home is perfect for couples. And practically anyone who buys a house needs the service you’d provide.
1. Home Inspection
The only people I know who won’t pay someone to do a thorough inspection of a residential property they’re buying?
People buying inexpensive rental properties. That’s because they generally do the inspections themselves.
With this in mind, that means about 90% of the people who buy homes pay for inspections. Whoops. I estimated wrong. Here’s the real figure. That’s huge.
As a matter of fact, the home inspection industry is expected to do $5 billion in revenue between 2018-2023.
With that in mind, let’s do some six-figure math.
If you perform two home inspections a day, 4 days a week (at $350 each), you’re bringing in $2800.00 a week in revenue.
Multiply that by 52 weeks, and you’re grossing $145,000 annually.
One person does the inspections, and one person does the books and the marketing.
And if you hire another inspector who only does one $350 inspection a day x 5 days a week, you’ve just added another $90,000 in annual revenue!
Good News! You Can Buy A Home Inspection Franchise
If you decide to become the owner of a home inspection business, you can do it independently or buy a franchise. Me?
I’d go the franchise route, as everything you need to get started and keep your business on track is included. Some of the better known names include:
Finally, one of the best things about home inspection franchises is their initial investment. You’re generally under $100k, all in.
Note: if you want to increase your odds of success in any business you start, it’s crucial to have a business plan. And to update it frequently. LivePlan allows you to do that-and a lot more, as it sits in the cloud.
2. Local Marketing Consultant
Practically every business in your area needs marketing assistance. And you can be the one to provide it.
For example, here are some of the things your local pizza place needs a lot of help with:
- Social media content (Facebook, Instagram)
- Social media ads
- Website content writing and SEO
- Monthly promotions
Now, these business owners could do it themselves. And a lot of them do. But are they doing the best job for their businesses? Or could a local marketing expert do better.
If you can win, say, 10 accounts, and charge each one $1000 a month (all year long) for marketing services, you’ll have a six-figure business. And you can run your business from home.
The good news is you don’t need to have a marketing degree to do this type of work, although experience in marketing is a plus. And if you can write, or at least be willing to become a better writer, the better your chances of winning clients.
P.S. If you want to go all in, and start a complete marketing agency, check out John Jantsch’s program (I know John, personally. He’s good people.)
3. Create/Sell Online Courses
What are you super-knowledgeable about?
Is it something others would pay you to learn about? Online?
If so, a lot of people who are involved in online businesses are making good money selling online courses (e-learning).
In fact, according to LearnWorlds, the e-learning market expected to reach $319 billion by 2029, with $49 billion of it coming from e-learning courses.
Here are a few examples of what types of courses home-based online entrepreneurs are earning money from:
- Coding and Software Development
- Investing and Personal Finance
- Language Learning
- Health and Wellness
- Photography and Videography
- Playing musical instruments
And many, many others.
To get started, choose a learning platform like LearnWorlds, put together your curriculum, and start selling your knowledge. It’s not as difficult as it sounds. Especially with today’s technology. Heck, I’ve put together a few online courses myself!
Can You Make A Six-Figure Income From Online Courses?
Your income will depend on the size of your audience, how many people you can convert to students, and how many course “extras” you can sell.
Those extras could include a paid Mastermind group and/or 1:1 personalized coaching.
If you sell enough courses, lead a 20-person Mastermind group and do some personal coaching, you should be able to make a six-figure income.
But you’ll need to be patient, as there’s no such thing as an overnight success.
Finally, here are some other ideas that could potentially earn you six-figures or more.
Are you ready to be your own boss and earn $100k or more doing it?