3 Ways To Earn Money From Home
Tags: Earn Money From Home, Side Hustle, Income, Earn Money Online

At times, a 9 to 5 job just does not cut it. A side job may just be what you need to supplement your income or some of you may be looking for a side job that can take over your 9 to 5 job as a whole.

Nevertheless, here are 3 ways on how you can earn money from the comfort of your own home.

More accurately, it is known as Kindle Direct Publishing. Kindle Direct Publishing is a platform where you can publish your books (e book or paperbacks) for free! With a huge audience on Amazon, Kindle Publishing gives you direct access to scale your books on a global level.

Here are some ideas on the niches you can look into:

▪️Cookbooks

▪️Business & Money

▪️Children’s Ebooks

▪️Self-Help

▪️Travel

One of the easiest category that you can dive into is the children’s niche. Children’s ebooks contains more graphic than words. Even if you are not good at designing or drawing, you can outsource this jobs to actual graphic illustrator.

Where can you outsource for a graphic illustrator?

You can find graphic illustrator on FIVERRR. Children’s Ebook Illustrator services are available starting from USD$5, depending on your request.

2. Dropshipping

Dropshipping is a method where your e-commerce store do not keep any physical stocks. Instead of keeping stocks, you fulfill your orders via a third party. One of the widely known third party that you can fulfill your orders with is Aliexpress.

Pros Of Dropshipping

a) Low capital required

You do not need capital for stocks since the stocks are ordered only upon customer’s payment and there are no physical stocks. The only thing that requires capital will be your dropping shipping website and own domain. Website from shopify cost as low as $29usd per month. For your own domain, you can get a domain from NameCheap for as low as $3usd per month.

b) Low overhead

You do not have to deal with rental of physical store or a warehouse. The only thing you need is your laptop, so the overhead cost for you as compared to a physical store is relatively low.

c) Easier to test and scale

With dropshipping business model, you do not need to adhere to the minimum order quantity. It is easier for you to test the product and scale your business.

d) Wide selection of products to sell

With a wide selection of products to sell due to the advantage of not needing to keep any physical stocks, you will be spoilt for choice.

Cons of Dropshipping

a) Low profit margins

Due to no minimum order quantity, the price for individual products are relatively higher as compared to if you buy in bulk. Due to the fierce competition because of the low start up cost, e commerce stores are promoting products at a low price to attract customers. This is a major spoiler. But you can always counter this by focusing on a specific niche. Focus on a specific niche and spend some time on how you can market your e commerce store.

b) Longer shipping time

If your 3rd party is Aliexpress, do expect a longer shipping time. This depends on your location and whether it is a free shipping. Free shipping equates to longer shipping duration. If you want to expedite the shipping time, you will be given options by the supplier to choose your shipping carrier which will be at an additional cost.

c) Not your branding

With the no minimum order quantity, it is a fair game that you are not given the option to customise the selected product or rebrand the product to your own brand. Suppliers only allows you to rebrand the product if you purchase in bulk order as they have a set of requirements to fulfill in order to customise your product.

d) Inventory issues

You have no control over the inventory as you do not keep any physical stocks. This can pose as a problem as the suppliers may not communicate with you efficiently in regards to products being out of stock.

3. Amazon FBA/EBay

This works a little different from dropshipping. You may choose to keep your physical stocks or you can store your products at a fulfillment centre.

For this business model, you will need capital for your business. The capital is for the products that you will need to purchase in bulk. The whole idea behind this business model is to buy the product at a low price and sell it at a higher price. Basically, you decide your profit margin and how you want to mark up your price.

If you choose to store your products at a fulfillment centre, for example Amazon FBA, you have to put into consideration the fees for storage and fulfilling your products. This will affect your profit margin. But it will make your job easier as you do not have to do the labour work of packing your products and sending it to the mailing centre.

The advantage of starting a business on Amazon FBA/Ebay is Amazon FBA/Ebay has their own established audience who is there with an intention to buy. You do not need to worry about how you can market your products or whether the customers are ready to purchase any products.

There are many ways on how you can earn money from home which I have yet to share. I would love to know which business model you are more incline to. Let me know in the comment sections. :)