Competition to get into top universities is as tough as it has ever been, so nervous parents are willing to pay handsomely for tutoring for their kids. You need an area of expertise—math, and specifically SAT math preparation, is always a favorite—but almost any subject will work. If you know how to market yourself locally, you can take advantage of parental paranoia and make money by tutoring right in your own home, or at a local library or coffee shop. Just make sure to do your homework on your local market in order to set prices and know which areas of expertise are most desired by parents in your area.
To find your niche market, think about what you’re best at, what you enjoy doing most for your clients, and the clients you enjoy most. Your niche market can find your business, you could stumble upon your niche, or you could choose a specialty and make it work. Having a firm grasp on the primary goods and services that you provide, and the different segments of your audience will help you to hone your strategy. Don’t be afraid to experiment either. Experimentation is the key to learning, which is the key to growth.
If you’re the sort who takes apart the computer for fun, operating an electronics repair shop out of your home is a natural decision. In particular, repairing iPads and other tablets would provide you with a great deal of business, as many tablet users are looking for a less expensive way to fix smashed screens and other damages that can be costly through the manufacturer. Median salary: $49,170.
As a pet sitter, you would get to spend time with other people’s animals while they’re away for business or on vacation. Simply follow your client instructions, as well as your own experience and expertise, to provide care and comfort to these pets. It’s an easy way to get paid, especially if you’re an organized and trustworthy individual with a reputation for or history of animal care.
The tax benefits of operating a home office can be lucrative. If your situation qualifies, you can deduct a portion of your home's expenses, such as mortgage interest, property taxes, utilities and repairs and maintenance, against your business income. To qualify, your home office must be your principal place of business and you can only deduct the proportionate amounts of the total expense which are directly related to your business. Although you cannot create a loss with your home office expenses, you can carry them forward to future tax years if you do not have enough business income to use them up in the current year. (Running your own business has both personal and financial perks.
If you have a background in marketing and a passion for a particular niche, then organizing a virtual event may be just up your street. A virtual event could span across a day or longer. Individual live sessions would be run by experts in the field. And conference features would include live question and answer sessions, forums, and plenty of free giveaways. Visitors to the virtual event would pay to attend, so the more effective your promotion of the event the more money you would make.
Description: Niche marketing is a marketing tactic deployed to target a specific market segment which is unique. Niche market is often created by identifying what a customer wants and this can be done if the company knows what the customer needs and then tries to deliver a better solution to a problem which was not presented by other firms. A niche market does not mean a small market, but it involves specific target audience with a specialized offering. By doing so, the company becomes a market leader and it becomes possible for other firms to enter that particular segment. For example, there are various cinema halls across India, but there are few which have recliner seats to offer. Not everybody wants to watch a movie by paying 5x-6x times the cost of a normal ticket. Hence, the target audience is very different and the hall is also only open at places where the company feels that it would be able to tap into target audience especially in posh areas.
Test websites. Remote usability testing means getting paid to navigate a website for the first time and giving feedback to the website owner. Most tests take approximately 15 minutes, and you can get paid up to $10 for each test. A test involves performing a scenario on the client’s website and recording yourself doing it. For example, you might be asked to go through the process of selecting and purchasing an item on a retailer’s website.
Non-profits, universities, hospitals and other community organizations all have a great need for grant money to supplement their budgets, but grants are notoriously tricky to write for the first time. If you have experience writing grants or are willing to learn how to do it by practicing your skills without pay for a few non-profits, you can start a lucrative freelance grant writing business. According to eHow, grant writers can make anywhere from $40, 300 to $67,000.
This is something like Experts Exchange, except that it’s more general in nature. As a professional in just about any field, you can offer your expertise on JustAnswer. They are looking for professionals in various fields who will provide answers to reader’s questions. You can make money online by answering these questions and pointing people in the right direction to get the solutions that they need.
Re-selling web hosting will enable you to make money hosting your own client’s websites. Large hosting companies like HostGator allow you to white label their hosting services. You could start your own hosting business or, if you are a web designer, include hosting into your web design packages. And the best of it is the hosting companies take care of the hosting for you, so all you need to worry about is selling.
Once you have a match between niche and product, test-market it. “Give people an opportunity to buy your product or service—not just theoretically but actually putting it out there,” Falkenstein suggests. This can be done by offering samples, such as a free mini-seminar or a sample copy of your newsletter. The test shouldn’t cost you a lot of money: “If you spend huge amounts of money on the initial market test, you're probably doing it wrong,” she says.