What are the most profitable businesses to start from home in 2016? Thanks to internet technology, starting a business from home has become easier than ever. There are so many ways that the internet has made commerce much, much easier and basically anyone can start a business right at the comfort of their homes.
But just because you can, does not mean that you should.
According to this statistic, 55% of small businesses fail during the first five years. While most of them fail to thrive due to the owners’ inexperience, one common reason is just simply because the business is a hard sell. With all that’s at stake in starting even a small home-based business, it is essential that when you do decide to venture into small business, you get into something that will give you the best chances of earning a profit.
Coming up with the list is fairly easy – there are tons of sources for great home-based business ideas: Business News Daily, All Business, Entrepreneur, The Guardian and INC to name a few. As it turns out, there are a good number of highly profitable businesses that you can run from home – especially that the internet and countless websites and applications make it even more doable.
The problem with coming up with this list is ranking the items. Unlike our other article on the 15 most profitable businesses to start in 2016 where the businesses are ranked by average profit margins, there are no available credible data sources for home-based business profits. To rank the items, we have instead identified their ‘profitability’ according to the size of the market for each industry/business. While it may not be a completely accurate gauge of profitability, the size of their markets is a good indicator of what businesses will sell and what won’t.
So, which businesses are well worth investing into in 2016? Read on to find out more!