12 Profitable Home-Based Business Ideas – Make Money during Coronavirus Self-Isolation

The degree of the negative financial impact of the coronavirus pandemic cannot be told as yet.

A total lockdown has seen majority businesses grounded to a halt, from restaurants to retail stores, only leaving providers of essential goods on the high street. Millions of job across the globe may be lost and people are emotionally exhausted.

Many people are panicking and wondering in anxiety how they will remain healthy, and survive. Thinking of your rent or mortgage payments amongst other financial commitments may be so overwhelming. Your financial future may seem daunting, but instead of dwelling on the worst probable outcomes and scenarios why not use the corona lockdown season as a place to think of creative ways to boost your income and add value to yourself. Be stronger and wiser! Through practical application, who knows you might create a fortune in the season. The likes of General Electrics, Disney, Burger King, IBM, General Motors all have one thing in common, they started their businesses in recession.

Below are 12 home-based business ideas that you may want to consider to generate newfound income working from home whilst “quarantined”.

1. Start a virtual recruitment agency:

With the current climate, there is a strong possibility that many businesses will scale back in staffing, particularly full-time workers, replacing them with temporary and part-time skilled workers to reduce costs. Companies that fit into the category of remote working can enjoy a virtual recruitment agency, sourcing virtual staff!

You can target businesses to help them source skilled temporary workers they may require according to their specifications. You would need to compile a list of probable companies through Yelp and Linkedin. You can use e-mail finder tools such as Hunter chrome extension and Myip.ms to build up an accurate relevant contact list. You can then source talent from freelance platforms such as Upwork.com which has freelancers from all over the world with a massive range of skillset or expertise for a very competitive fee.

2. Sell your used goods online

This is hands down the fastest way to generate money, hence the expression one man’s trash is another man’s treasure.

Listing your unwanted items on popular e-commerce selling platforms like Amazon, eBay, Etsy is a great way to build financial momentum and confidence because it’s easier to start. In this current climate. Governments have imposed lockdown restrictions, including shutting down physical stores. More people are spending money online. Items, including second-hand goods, are also in demand.

3. Personal accountability service:

If you’ve been blessed with the gift of motivating others and bringing out the best in people, why not consider starting an online coaching / personal accountability service. Many people have dreams and know how to achieve it but lack the inspiration, drive, and discipline to execute. This is where you can provide the service on holding people accountable to their plan of actions, track their progress and encouraging them in a bespoke way. Do not underestimate the power of this service, even Paul Tudor Jones, worth $5.1 billion, pays a million-dollar annual fee to Tony Robbins as his accountability partner who helps get him in the right mindset to operate at the highest level.

To start this business you may want to provide this service free to someone you know that has a large following for that person to refer you to other potential paying customers.

4. Create a YouTube channel

Starting a YouTube channel and profiting from it, takes time, so if you start you must be willing to wait for the long-term to see worthwhile results.

If you want to earn money with YouTube.com you must first create content around what you’re passionate about uniquely, and a topic that has a large enough audience. According to merchdope.com, over 5 billion videos are watched on Youtube every day, this is the reason many have become multi-millionaires in their bedroom by creating videos and uploading them, for example, Youtube influencer, Patricia Bright, became a million by creating videos around health and beauty. The most common way to generate money is through online advertising, by joining the Youtube partner program. To join you must fit into their criteria including having a minimum of 2,000 subscribers on your channel.

If you go this route, ensure you are prepared to wait to receive financial rewards in the long-term and be consistent in uploading at least one thoughtful piece of video content a week so you can be competitive amongst the masses of other channels.

It is good if you can decide on a profitable niche which is not oversaturated, for example, reviewing hair products etc unless you’ve found a new unique way to present the idea.

5. Earn profitable commission selling affiliates

One of the most lucrative and passive ways to earn money online is by selling affiliate-based products. If you want to earn additional income with minimal time this is most probably the best way to go. The misconception starting in an affiliate marketing is that you need a website, blog or years of experience – the truth is you don’t need any of that, you can start where you are.

You can start on your personal Facebook where people trust you and can check out the post you put out. You must select to promote an item that aligns with your character and values for example if you were once overweight and have lost a significant amount of weight it might be best for you to promote a supplement weight loss pill because people who want to transform their body is more likely to purchase what you recommend. Many individuals have made fortunes selling vitamin and like dietary supplements to the health-conscious community. You can write a short post on how the product you‘ve selected to promote has impacted you.

6. Offer services to brick and mortar retailers

Create a service where you offer to help small brick and mortar retailers transition their business, their inventory online. If you are knowledgeable, about digital marketing or how e-commerce works, this may be a fantastic business idea. A large number of physical stores lack the knowledge of selling online, including setting up a basic website on platforms like Shopify.com. You can research local companies who may need this transitional service on directory website such as Yelp.com. The business case is that once the virus goes down and stores begin to re-open they can have an additional channel to sell their item online.

7. Offer online reputation management services.

Nobody enjoys negative information about them, especially from a business standpoint. People don’t engage in a service or make a transaction with whom they don’t trust. Every year, companies and individuals spend a fortune on PR consultants to help them clean up their online image. If you can write, understand the fundamentals of blogging and s.e.o, you can offer a service to counteract negative online contents for your prospective clients, such as helping to reply negative comments and reviews.

8. Start food delivery service

A splendid business idea where there is most likely to be an outrageous demand is to offer delivery services to a targeted demographic of people. Many people are fearful to step out of the house in the fear that they may become victims of the Coronavirus which is the reason people are prepared to pay premium prices. If you start this business look at an audience in a specific area, for example, Africans, or Asians where you can pick up orders, from food stores that do not offer delivery services. You may need to focus on one specific area at a time, you can even place an advert on Facebook targeting a specific location where people can order nearby. Depending on the demand you can even hire others to support you when demands are high.

9. Start a business helping people upgrade their CV’s for a small fee

You may find that many people could be looking for jobs which will be competitive and would need to stand out by upgrading their CV. This is where you can come in, you can offer services to spice up people’s resume for them at an affordable fee.

Go the extra mile by creating a system where you research suitable jobs to apply and send out the CVs to the companies on the behalf of your clients. Later on, you can upsell and offer to upgrade your clients’ Linkedin profile to increase recruitment opportunities.

10. Teach what you know

One of the many ways individuals at home can stay busy is by adding value to themselves, and what better way than learning something new. If you have a skill or knowledge that you can communicate online why not offer to teach it for a fee. For example, if you have the fundamental knowledge and experience on how the stock market works you may want to teach it.

So write a list of the knowledge or skills you can offer that may be sought-after then look at your list of contacts to see if anyone may be interested to see what you have on offer.

11. Online tutor 

With schools closed down many parents’ fear that their children will fall behind in education and may not have the time to teach them. If you have the required qualification and understand how to engage with children then this business may be a wonderful opportunity, using an online webcam. This has the potential to be lucrative, for example, South Korean teacher, Kim Ki-Hoon created a fortune making around $4 million in a year.

12. Creative Writing

If you have a knack for creative writing that has the potential to generate views and even go viral this can involve writing contents for large content-based websites.

Millions of blogs and websites pay handsomely to writers to continue to update their websites. To succeed, choose a niche that you’re passionate about and create samples to show your work. For example, if you are passionate about business, you may want to offer to write for Forbes Magazine.

During self-isolation, it’s important not only to think of a short-term but long-term financial plan. Use this time to educate and prepare yourself on becoming prosperous. To get started, I recommend you invest in yourself by listening to Master of Money audio series by Dr. Sunday Adelaja who transformed the lives of down-and-out to millionaires whilst in an unfavourable climate. Dedicate at least 30 minutes a day to ensure you soar.

Hope this article helps.