What kind of home business can make you rich?

[Alexandoy]

The title of this thread was asked in one tv program that is about managing the finances. Most of the suggestions were about food whether you cook or you resell. Take note that food is a perishable good which should be sold within the day that you produced it. The drawback in the food business is the spoilage or wastage of food that is not sold. What about non-perishable goods? Soap and other household items were the first in the list which I can agree.

But what surprised me was the personal accessories which didn't come to my mind. The younger generation are fond of personal accessories like fancy necklace and bracelets, trinkets and other small items that students are buying. If you had heard of beads, you can also make bracelets from the beads that you can sell for a good profit. Truly when you look at the potential customers the products that are far from your mind will appeal to you. Now my decision on the food products seemed to have been affected. At least with personal accessories there is no hurry to sell because they will not spoil.

 

[Ganibade]

Home business that can make you rich. Selling of food stuffs at home,if you have capacity to sell it.
You can be doing online business to join with another job you are doing. There are many online that give money. Try to contact some people that are very close to you,that have made it from online business.

 

[General01]

That's the plain fact sir! I so much agree with you on this analogy.
The business of perishable products like food is quite risky unless you have a means of preserving the food of which it may eventually become stale and unpalatable.
The idea of selling nonperishable products is wise and had less risk attached
This underlines the importance of evaluation before one decide which business to venture into.
It is essential that one calculate the potential gains and losses is capable of making and the way to make it profitable while at the same time less risky.
The aim of any business is always to make profit and not to loose

 

[btaliat]

This will boil down to the fact that we need market research before starting any business. We need to know st least our target audience before we decide what to sell and to whom to sell. If the target happens to be younger generation, non perishable items like bracelet and the likes will be suitable. Students and the younger generation like looking classic. They won't even fancy buying food. They prefer going to eatery. But if your location of business is among the boomer generation, go for food. They care about what to put in than what they put out.

 

[Deleted member 28127]

The fact that food is most reputable is not always the right business like for example if there is a lot of competitive food delivery and also there are old companies in a place where you rent are working in the same procedure or scheme you will face some problems then waiting for such thing is something required from time to time to grow up your business gradually and not be urgent for results from the first year.

 

[Sotherefore]

This will boil down to the fact that we need market research before starting any business. We need to know st least our target audience before we decide what to sell and to whom to sell. If the target happens to be younger generation, non perishable items like bracelet and the likes will be suitable. Students and the younger generation like looking classic. They won't even fancy buying food. They prefer going to eatery. But if your location of business is among the boomer generation, go for food. They care about what to put in than what they put out.

Nice business idea, I understand your point perfectly, that means we have to look mostly on what the society will need but me in terms of the best business that can actually make you Rich I believe food business will be the most profitable probably ,you can set up your food business as a restaurant and you can make it to be an eatery it is still a profitable business because people are likely to patronize you with this business compared to others , then since the modern society require a lot of fashions and expensive material you can also go into fashions and beauty products for ladies and for men it can also be a profitable business, most of these things will depend on location . in America it might actually be different from what will be needed in Africa so the most important thing an individual need to do is to understand the location he or she is intending to start up a business because that is what will determine which type of business will be profitable, if proper research is not done it is possible that we might makes a wrong business decision which might eventually leads to business failure or possibly lost of money. research is very important.

 

[Caramelle]

Our inclinations and passions can have a huge impact on the type of business that we want to start at home. What works for some people may not actually work for us. There are thousands of business ideas that we can try, but what will likely stick are those that we can relate to in terms of our own interests and background. I suggest conducting a thorough study before embarking on a new business venture. Considering the current pandemic, people's priorities have likely changed. I agree that while food is essential, businesses that involve selling foods have a very short operating cycle. If they fail to sell food within the expected time, it will spoil and result in wastage and losses. Location is usually important for this type of business but this could be compensated for by offering delivery where it is practicable.​

 

[Deleted member 28127]

Everything you love or you work with passion or you are doing well with is something meaningful in life and could succeed today or another day but if you are bored from work then nothing will happen well.

 

[Mellorando]

Well I can't actually tell the home business that can make an individual rich but I can point out those ones that will be more profitable from the list of home businesses good examples of profitable home businesses includes:
1 Sell handmade products.
2 Purchase products in bulk and sell them
online.
3 Start a dropshipping business.
4 Start a print-on-demand business.
5 Purchase an existing ecommerce
business.
6 Start a subscription box business.
7 Teach online classes.
8 Start a service-based business