The world of business is forever changing. Products and services in demand today may become obsolete tomorrow. At the same time, new and in-demand products and services appear, in line with people’s changing needs and interests. Knowing what is lucrative and in-demand ahead of time helps entrepreneurs adapt their business models and keep their companies relevant over time.
For home-based business owners, 2017 is a year in which both craft businesses and professional services are in great demand. There are no surprising changes from last year (so you can breathe out in relief) but there are some shifts in popularity among various niches.
This article is also aimed at potential entrepreneurs who are not sure if their skills and experience are a good fit for starting a home-based business. Without further delay, these are the most in-demand and lucrative home-based business ideas for 2017:
1. Affiliate Marketing
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2. Crowdfunding Consulting
Crowdfunding websites such as Indiegogo, GoFundMe and Kickstarter feature hundreds of thousands of projects. Some of them succeed, but many fail. And, among the successful ones, some crowdfunding projects fall apart in a very public and unpleasant manner, with negative legal consequences.
To avoid this, many people hire a crowdfunding consultant to advise them on the best way to formulate their project and ensure transparency and a fair treatment of all contributors. At the same time, potential entrepreneurs want to make their project stand out, be visible and have an adequate promotion on the social media and other channels to attract more contributors. All these fall among the scope of work of a home-based crowdfunding consultant.
3. Woodworking
From abstract services, we move now to a craft home-based business, more specifically to woodworking. There is an increasing demand for unique, handmade furniture, toys and decorations made of wood. People want to add a personal note to their homes and are willing to pay more for a crafted item than for mass-produced items. If you love carving wood and are good at it, this is the moment to open a home-based business and start making money from your hobby.
4. Social Media Consulting
The social media has long exceeded the status of an online forum for people to meet, share photos, and build conversations. It is a thriving world where businesses find potential customers, build relationships with them and advertise their products and services.
There are many unwritten dos and don’ts in social media engagement, and small businesses need advice or even a manager for their social media pages. As a social media consultant or manager, you can build a thriving customer base and establish your authority as an expert. In time, you can expand your business to publishing eBooks and hosting webinars.
5. Candle Making
Candles have appeared over 2,000 years ago and it seems that they are here to stay. No longer used as a lighting source, candles (especially scented ones) are now popular in spas, for creating a romantic atmosphere and for scent therapy.
Handmade beeswax candles are very popular, especially if you craft them in creative shapes and colors, adequate for various celebrations (Valentine’s Day, Easter, Christmas, etc.).
If you didn’t find your skill or hobby in this list, do not despair: you still stand a great chance to open a successful home-based business.