You want to work from home but make money like you've got an office job, right? Benefits, too. You're looking for a balance of work in the financial perks. Here’s what to consider.
More than one-third (37%) of jobs in the U.S. can be performed entirely at home, according to a June 2020 study conducted by the University of Chicago's Booth School of Business.
Work-from-home jobs often pay more
More than one-third (37%) of jobs in the U.S. can be performed entirely at home, according to a June 2020 study conducted by the University of Chicago's Booth School of Business.
These jobs typically pay more than those that can't be done at home and account for nearly half (46%) of all U.S. wages, the researchers report.
So it's more doable than ever if you know where to look, how to maintain your productivity, and — if starting a work-from-home business — how to calculate target profitability.
Why Works From Home Are Growing?
The likelihood of finding remote employment is growing because of the transition away from office environments that many companies made during the coronavirus pandemic.
Most employers (83%) say the shift to remote work has been successful for their company, according to a January 2021 PwC survey of companies well-suited for work-from-home employees.
With an at-home job, you may get to dress (a lot) more comfortably and keep little Nemo — your dog, cat, goldfish, or whatever — on your lap, but there's more to consider than your wardrobe. Here’s how to get started.
Flexible work-from-home jobs
If your current employer doesn't embrace a work-from-home staff, you may find a bridge to your next job — or even a new career — working in the gig economy.
Today's freelance job marketplace, as well as an expanding array of full-time contract work, can provide side-hustle money, part-time income, or full-time work flexibility. Here are some ways to turn your skills into at-home work:
- Rent out a spare room.
- Perform duties as a virtual assistant.
- Freelance for companies like Upwork and Fiverr.
- Offer fitness training or personal improvement coaching.
- Start a babysitting or pet walking service.
Sell stuff online
Maybe you found a product line or merchandise niche and don't mind spending nights and weekends packing and shipping. Or perhaps you've found a reliable dropshipper to supply and send out products for you.
Sell wholesale or used items from your home by building a site or signing up with e-commerce services. Postal and mail delivery companies offer package pickups to make it even easier to run an online retail business. Types of e-commerce business models include dropshipping, wholesaling, manufacturing, white-labeling, and subscriptions.
It all started with eBay, the original mom-and-pop-to-consumers marketplace. But now there are many more choices: Amazon, Etsy, and even Facebook, as well as a multitude of open-your-own online store platforms.
Consider all of your online sales options and decide on one that’s best for you.
It helps to follow a personal passion, buy smart (and low) and sell at an ample profit. Popular items to sell online in 2022, according to the e-commerce platform Shopify, include:
- Books and e-books
- Vinyl records and CDs.
- Belt buckles.
- False eyelash accessories.
- Household cleaning supplies.
Of course, an online boutique selling your favorite, hand-selected style of clothing and accessories is always a favorite startup option.
Some of the most profitable current web stores include those selling health and beauty products; subscription services; and food and beverage businesses, Shopify says.
To get an idea of just how viable selling stuff online can be, do some quick calculations:
Find out what your inventory costs might be. Locate wholesale suppliers for the products you want to sell and multiply each item's cost by the number you want to stock.
Calculate your potential revenue by multiplying your sale price by the number of items you'll stock. A typical markup is twice the wholesale cost.
Consider additional costs such as website hosting (if you'll use your own website), advertising and marketing, taxes, and payment processing, such as through PayPal or a merchant account.
Subtract the expenses totaled in No. 1 and No. 3 from No. 2 (revenue) for a rough idea of your projected profitability.
Let go of unwanted goods
Consider selling items in your home that are no longer in use. From clothing and accessories to rugs and furniture, you can list goods on websites, apps, and social platforms to sell unwanted goods.
Become a social media influencer
Social media offers a communication link between brands and their audience, and many companies hire professionals skilled in the topic.
Social media influencers are powering many work-from-home opportunities. Most of the money is made through product promotion of one kind or another. For example:
- Affiliate partnerships are shown in images or with swipe-up posts on Instagram.
- Viewer donations and brand partnerships on video game platforms like Twitch.
- Podcasts featuring advertising or sponsor plugs.
- How-to videos, product reviews, fashion hauls, interviews, comedy, and a variety of other programming that simulates mainstream TV shows on YouTube.
- In the earliest days of online promotion, a blog could feature content targeted to a specific topic and make a decent amount of cash simply by plugging in Google ads. That strategy has become more difficult over time as consumers tend to ignore such traditional advertising or are deploying web browsers with ad blockers.
Become a coach
Work with people who want personal or professional development and help them achieve results. Good coaches keep learning and give actionable projects to their clients through physical or virtual appointments and online guided courses.
Become a consultant
Experts in their field can help guide others, either within a consulting firm or in their own business. Consulting can cover everything from financial investing, marketing, management and operations, information technology, or professional and business advice.
Teach online classes
Share teachable skills like yoga, a foreign language, cooking, or home maintenance tips in online forums and paid platforms. Companies also hire online learning hosts or teachers for virtual schooling with children.
Offer private lessons
Children and adults can learn from one-on-one lessons, like guitar, piano, voice, academic tutoring, or foreign languages. Set up a classroom to receive students at home or make house visits to the client.
Open a childcare business
Whether it's just for a couple of hours or for an entire day, running a childcare business from your home can be lucrative. Be sure to check local ordinances to make sure your business is within legal guidelines.
Launch a blog
Write about a topic you know and love and make money from it by building traffic to your blog through internet marketing, ad space, or selling and promoting affiliate products.
Become a copywriter
Write articles, ads, and copy for businesses from your home as a freelancer, salaried employee, or per assignment from certain websites.
Working from home tips
For those of us who initially set up working quarters on a side table in a bedroom or at the breakfast bar in the kitchen, long-term productivity will require some work-from-home essentials, such as:
- A well-lit environment.
- The ability to control or reduce noise.
- Surroundings that are free from distractions.
- A comfortable chair and sit-stand desk.
- Enough structure to your schedule to provide a transition from being at home to being at work.
Work-from-home job scams
When anything comes along as alluring as making a living while working from home, there are going to be scammers.
The Federal Trade Commission offers some big tipoffs that an opportunity you're considering may be on the shady side:
You have to pay money upfront to get the job, perhaps for training or materials.
The job offers high pay with meager effort.
Your employer issues you a check but asks you to use a portion of it for another purpose.
If you encounter any of these red flags, it's probably best to continue your work-from-home job hunt.
3 Comments
Great post, so informative !
ReplyDeleteThis is so informative!! Thank you 🙏
ReplyDeleteMy pleasure
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