If you’re an entrepreneur who’s looking to get into the world of business by starting a start-up in 2019, you’ve come to the right place. There are many entrepreneurs who would like to be their own boss but don’t know what kind of business to start with limited capital and resources. In this article, we’re going to take a look at 10 of the hottest home-based business ideas in 2019.
- Catering business – You can’t go wrong with a food-based business. All you need is good managerial skills, and you’re good to go. This business is perfect for entrepreneurs with limited resources because it doesn’t require a lot of investment. Make sure you speak to an Accountant so that they can guide you on making an effective Business plan and carrying out bookkeeping and compliance requirements effectively. Read our guide on writing an effective Business Plan.
- Read guide about starting a catering business from startups UK
- Party planner – You’d be surprised at how many people cannot throw a decent party. Entertainment has always been a profitable industry. This business idea scales very well. You can start planning more extravagant parties as you become more experienced. The UK Events industry report by Eventbrite looks at various facts and confirms that the industry is worth £ 42.3 billion.
- Tuition classes – The world today is extremely competitive. Starting an education-based business is a great idea. A tuition class is a very low investment business as all you need is a blackboard and study materials. You might have to spend a bit of money to advertise your business, though.
- YouTube video channel – Starting a YouTube video channel only requires a Google account, an internet connection, and a computer. The hard part is creating engaging and unique videos that stand out from the rest. Some people have a flair for being creative so if you’re one of them, the best way to go about it would be to create a YouTube video channel. View a guide on how to make a YouTube channel.
- MLM – MLM, or multilevel marketing, is an extremely profitable business venture. However, it does require a lot of research. Entrepreneurs who are looking to step into this field must do a lot of study before dipping their toes in. Find an accounting firm nearby and speak to them about determining your return on investment and the cost vs benefit of pursuing your MLM venture.
- Interior decoration – An interior decoration startup isn’t a bad idea if you live in a big city. However, you’ll need to invest in professional training before you can go about this business. It’s a very rewarding field as you can see your creations come to life in front of you. Interior designing can be started as a hobby business; however, if you want the idea to be scalable, speak to a good accountant in London and make sure to set up a professional structure so that your business looks professional. Startup Accountants in London can be extremely useful for a strong business foundation.
- Real estate agency – A real estate agent is a person who assists other people with buying, selling or renting a property. Good money can be earned by entrepreneurs with a solid network of contacts in this home-based business idea. A real estate industry report by Fitch Solutions predicts greater interest in real estate in the UK by overseas investors.
- Foreign language class – If you happen to speak a foreign language such as French or are from an English native country, you can host language classes to prepare students for IELTS, TOEFL and so on. The investment required for this business is low and you can earn great money giving lessons to other people. Make sure you have a suitable bookkeeper who can help you keep your records in order, they should be suitable with the latest accounting software such as Xero or Quickbooks.
- Gift business – Most people are clueless when it comes to the art of gift-giving. The business is as simple as buying gifts from the market and selling them at a higher price. Of course, you do need to think about the situation involved in each gift. Speak to a suitable accountant who can help you prepare pricing models and contribution margin levels; they will also assist you with stock levels, inventory management and effective cash flow management.
- Dance instructor – If you’re a bit of a wizard when it comes to movement, you can offer dance classes from home. The tricky part is finding students. However, once you’ve found your students, it’s as easy as 3…2….1. Professional advisers such as Accountants will have connections or recommendations from other clients who might be able to help, such as digital marketing agencies, business developers or sales.
There are plenty of other home-based businesses growing in popularity in the year 2019 and beyond. The options mentioned above are quite popular because they require minimal investment and have the potential to generate massive revenues. Starting a new business can get complicated and costly if not done properly, speak to a few startup accountants before you dive into the world of startups and entrepreneurs, a good startup accountant will be able to provide you with valuable guidance, useful resources and a second opinion based on their years of experience working with thousands of businesses.
Clear House Accountants are specialist Accountants in London who have been key enablers for entrepreneurs looking to start small but go big. With the right guidance and a strong foundation, businesses can be sure to start strong and grow quickly. Having an accounting firm on your side with the right connections and experience can make a huge difference. Speak to us if you have an idea and want to know how to start.
