Many people think that starting a business requires a capital of $100,000. While some businesses do need intensive capital to operate, there are profitable and cost-effective businesses you can start in the comfort of your own home.

If you’re looking to ‘get rich quick’ or become an instant billionaire, these businesses are not suitable for you. What these businesses offer is a good living for people willing to work for it and the satisfaction of owning a business. Here are five profitable business you can start at home:

  1. Residential Cleaning Services

People are busy – busy with work, school, and kids. We’re too busy to cook meals, too busy to exercise, and even too busy to clean our houses. So much so that many people are willing to pay to have their house cleaned. Gone are the days when hiring someone else to clean your house is a luxury only the rich can afford.

Which is why starting a residential cleaning service would be a lucrative business. Plus it doesn’t cost much, other than stocking up on basic cleaning supplies. Most homes usually avail of cleaning services either once a month or once a week. Once you’ve built your clientele, it’ll be easier for you to expand your business.

  1. Graphic Design

Graphic designers create visually appealing content such as posters, logos, advertisement, websites, and more. According to the Bureau of Labor Statistics, the median salary for graphic designers is around $45,000. While you can learn graphic design by yourself, most designers have either a certification or a degree. Other than the cost of the design software, a graphic design business has minimal overhead.

  1. Event Planning

As the name implies, event planners plan events. But contrary to popular belief, event planning is not just limited to parties and weddings. In fact, corporations, hotels, municipalities, government organizations, and nonprofit organizations need event planners to organize conferences and seminars.

  1. Language Tutor

There is an ongoing demand for tutors. Many English-speaking people are looking to learn a second or third language like French, Spanish, or German to name a few. On the other hand, there is also a growing demand for English tutors. Immigrants who don’t know how to speak English hire English tutors to teach them how to communicate in English.

  1. Painting

Painting is one of the many business opportunities that will always be profitable. Aside from being an inexpensive business idea, painting houses are not seasonal; you can paint interiors any time of the year. Once you start gaining loyal customers, you can expand your business by hiring others to do the actual work for you. You can continue to work on other painting projects or you can be a manager or overseer of your business.

Are you looking to start a business but don’t have the cash to get things up and running? SMB Compass can help! We’ve offered the various loan programs for businesses all over the United States and we’ll do the same for yours. Don’t hesitate to contact us by phone at (646) 569-9496 or email us at info@smbcompass.com.

 

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