Explore new career paths that offer strong growth potential as well as the freedom to work independently right from your home. Brought to you by Chase for business.
If you’re looking to start a business, consider these nine great business ideas for working from home. They have growth potential and you won’t need a physical office to be up and running. When you find your new career path, find out how a Chase for Business bank account might be the right fit for your new business.
1. Web development
In this growing industry, you will help clients build, update and maintain their websites. Web developers take responsibility for both the look and function of the pages they create, although many specialize in one or the other. You will also collaborate with specialists who create elements such as graphics or sound.
There is also the possibility of expanding your business. According to United States Bureau of Labor Statistics (BLS), computer systems design and related services are poised to remain one of the fastest growing industries for the foreseeable future. By 2028, the agency forecasts annual growth of 2.2%. Starting your web development business now could give you a leg up on the competition as this industry continues to thrive.
2. Medical coding and billing
Medical coders and billers work with medical offices to update patient records and submit claims to insurance companies. This process involves reviewing physician notes for the patient’s diagnosis and treatment, adding standard codes to records, and following up to receive payment.
Special medical coding training programs can help you learn what you need to know to get started. Since BLS projects significant growth for physician offices, ambulatory care centers and medical laboratories, the demand for this type of business is likely to grow.
3. Rental property management
As an owner, you will own, manage and maintain rental property, making it a natural home business. Homeowners can seize a range of opportunities, from renting entire houses or apartments for long term rental to renting a single or two bedroom for short term rental.
Of course, the most important thing is that you own a property that you can rent out. You may also need to have access to a rental platform and reliable transportation to get to and from your properties. Homeowners are also required to perform (or hire someone to perform) repair and maintenance work. Since residential construction and house maintenance services are two of the fastest growing industries in the country, working as an owner allows you to take advantage of this growing market.
4. Data entry
As a data entry specialist, you put raw information into a format that is useful for businesses and clients. You can also use apps like QuickBooks or SalesForce to import data and make sure it appears accurate and complete.
Data entry generally does not require special training or skills. But if you have additional experience in office work, social media management, and administrative support, you may want to consider expanding your business to offer virtual assistant services. Employment agencies may be able to offer placement assistance.
5. Delivery process
You can work independently or with a third-party company to transport packages from sellers to buyers. This often involves a route from a warehouse or hub to the delivery destinations. All you need to start this business is a car – you probably won’t need a home office. Rideshare and food delivery companies all outsource independent drivers, so the need for delivery contractors is likely to increase.
6. Online resale
As a reseller of the online marketplace, you buy products at wholesale price and sell them online at a profit. You may not need the additional space for inventory, as some marketplace providers will allow you to store your inventory in their warehouses.
Before you start, research some of the most profitable items for sale through online marketplaces and what type of financing you may be offered. You can also focus your business on exciting and unusual trends to help you stand out in the industry. With relatively little start-up capital, you could build a successful resale business.
With a good idea, a smart business plan and adequate financing, you have the power to start a business from your living room. Make a plan to start your home business and get a head start on these emerging trends. Once your business is launched, you can open a business and affairs audit savings account and see what kind of financing is offered to you by meeting with a local investment banker.