Top 10 Home Business Opportunities

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 business opportunities 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 home business opportunities 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 home 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 home business opportunity on your hands. From designer collars to "organic" pet foods, the sky's the limit.

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 Canadians? Did you know that falls in seniors account for over $10 million health care dollars annually in Toronto alone? 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
More people are opting to get married which means growing opportunities for wedding consultant services. Unless the laws change in the United States, there will also continue to be a growing demand for weddings from gay couples seeking to tie the knot. Are you good at planning? Do you have a mind for details? Becoming a wedding consultant could be the home-based business opportunity you've been looking for.

7) Dietary Consultant Services
Another growing trend that's only going to get larger is the perceived need for dietary advice. People are increasingly concerned about the food they put in their mouths and increasingly aware of the connection between dietary habits and their general health - and they're increasingly prepared to pay for personalized dietary planning and advice.

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.

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.

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.

Growing Your Home Business

Back in 1995, I never thought my home-based business would grow into The Dalbey Wealth Institute. But it has. And I want you to know – anyone could duplicate my success or go way beyond it. Everyone starts small initially, but where it ends up is up to you.

Once you’ve got your home business up and running, many of you may reach a point where you’ve hit a plateau. At the beginning of your venture, your income stream might be inconsistent – maybe you’re working all hours just to get your business off the ground. Once you’ve gotten past that initial period, you may find that your business has stopped growing. After all, there is only a finite amount of time that you can put into it, especially if you’re working full-time or have other obligations.

Create a Business Plan

To grow your business further, start by creating a business plan that makes it clear where you want your company to be, by when, and how it’s going to get there.

It's always helps to have a roadmap for your future. Also, take a good look at your finances and see what money could be reinvested so that your business can generate even greater profits.

Get Help with Time-Intensive Tasks

If you feel like you’re “maxed out” on the amount of time you have, you might want to look into hiring an employee to help you. Hiring somebody on a part-time basis to take care of the time-intensive work that needs to be done but doesn’t result in increased revenue can dramatically improve your bottom line. This is especially true if your marketing involves a significant amount of time-consuming phone prospecting.

With your advanced business skills and experience, your time may now be your most important resource! By freeing yourself up to do the more critical tasks that really bring in the profits, you can grow both your business and your profit margin. You'll probably have more fun with your work and be more relaxed as well.

Get Help to Generate More Profits

Let’s say your business advances to the next level, but even with someone doing all your cold calling or “light work,” you find that your profits have again stopped increasing. Well, as problems go, this is a good one to have!

The answer might be to hire someone to do some profit-generating work. This may be a more difficult cost to swallow, because a skilled assistant will usually command a higher wage than administrative help.

One way to make sure that you’ll have the right person to advance your business is to find people with the same entrepreneurial spirit that you have and allow them to make commission. This will guarantee that your new employees will work hard to generate profits for you and provide the motivation to keep your business on the right track – towards bigger and better things.