Are you one of the many people searching for a hot home business opportunity? Then this list of the best home business opportunities based on current and future trends may be just what you're looking for.
I say "may be" because these home businesses are not suitable for people who are looking for "a money-making machine" or who "want to make money in their sleep" or any of those other phony promises.
Nor are these for people who expect to just make an initial investment and then just watch the money roll in. Successful home businesses are real businesses. To turn a home business opportunity into a success, you need to be prepared to work at it and have the appropriate knowledge and skills that you need to run any business.
But those caveats aside, here are what I think are the best home business opportunities - best because of their potential right now and because there's going to be a even greater demand for these products and/or services over the next few years.
1) Home Renovation Services
Home renovation services are hot, hot, hot - and there's no sign of this trend slowing down. On the contrary, as the population ages, even more people are going to want to make their homes more livable by investing in the renovations they need to stay where there are. The best home renovation to focus on for the long-term? Bathroom renovations.
2) Pet-Based Products
Is there anything that indulgent pet owners won't buy for their pets? If you can come up with a product for dogs or cats that you can produce in your home, you'll have a real winner of a business opportunity on your hands. From designer collars to "organic" pet foods, the sky's the limit. See 18 Pet Business Ideas for more home business idea inspiration.
3) Catering Services
Think dinner for eight. Not just delivered, but served. Catering services aren't just for big parties any more. Career couples are having almost every social occasion catered, and busy families who are tired of living on take-out are spending more on having food brought in. If you have a knack for planning and preparing nourishing, appealing food and can deliver it hot, this is the home business opportunity for you.
4) Cleaning Services
Along the same lines, there's currently a heavy demand for cleaning services, and the demand for domestic cleaning services will only increase. If you're good at organizing and comfortable with the thought of running a crew, this home business opportunity has the potential of turning into something big.
5) Fall Prevention Products
Did you know that falls are the leading cause of fatal injury among elderly American and Canadians? And did you know that the death rates from falls among older men and women have risen sharply over the past decade? (Falls Among Older Adults: An Overview, Centers for Disease Control and Prevention). Now what if you developed or distributed a product related to helping seniors prevent falls? Think of the growing size of the potential market!
6) Wedding Consultant/Planner Services
People are still getting married. In 2011, 6.8 people per 1,000 married in the United States, meaning there were 2,118,000 marriages (CDC). And these numbers refer only to the traditional kind of marriage; there's also a growing demand for gay marriages, providing even more opportunities for wedding-related businesses of all kinds. If you are good at planning and have a mind for details, becoming a wedding planner could be the home-based business opportunity you've been looking for.
In the U.S., e-commerce spending totalled $63.4 billion in the first quarter of 2014 alone (Comscore). Canadian online spending reached $18.9 billion in 2012, according to Statistics Canada. Obviously more people than ever are shopping online. And e-commerce is an ideal home business opportunity. One of the main barriers to operating a successful e-commerce business is finding the right product or products to sell; the other is providing the kind of online environment that will make people want to buy from you rather than competitors. 8 Rules for a Successful E-commerce Website provides information on how to do this. If you are going to use eBay as your selling platform, reading 7 Tips for Selling on Ebay will help.
8) In-Home Beauty Services
This home-based business opportunity combines two trends; the insatiable demand for services that make people look and feel younger and better and the growing desire to have those services delivered. And why not? Having someone come to your home and cleanse and tone your skin and do your makeup is the height of luxury. And caring for and making up the face are only two beauty services you could offer to provide; manicures, pedicures, massages and acupuncture could also be provided to people in their homes – or in yours.
9) Sewing and Alteration Services
Sewing is on the way to becoming a lost art as more and more people find they have less and less time. But as not everyone is the regulation size, the demand for other people to provide these services will only increase. If you're really skilled, tailoring is another good home-based business opportunity.
10) Life/Business Coaching Services
Coaching has been hot for a while now, but I think this new industry will continue to grow. Remember when everyone had or wanted a personal fitness trainer? Now everyone has or wants a personal coach. If you have the skills and training necessary, this is a great home-based business opportunity because it can be done remotely as well as in person. Here are the pros and cons of being a life coach.
And a last tip - Most of the home-based business opportunities on this list call for specialized training or skills. If you don't have the specialized training or skills needed for a particular home-based business opportunity, you can still "be a part of it". Find a person with the appropriate training or skills and invest in his or her business. Being an angel investor can be rewarding in so many ways.
For even more home-based business opportunities, visit my Business Opportunities page. Many of the business ideas in these articles will work as home-based businesses.