Do you know that you can become your boss by starting a DIY business? This article outlines nine DIY business ideas you can start from the comfort of your home.
The best part is that you need a little or no capital investment to start.
First of all, let’s introduce what DIY business is about.
Keep reading to learn more.
DIY Business Ideas; Introduction
DIY is an abbreviation for do-it-yourself.
As the name suggests, it means handling home improvement and repair jobs without involving an expert.
Before now, DIY was just what people did for fun or as a hobby to improve their homes.
However, the concept is currently going beyond home improvement.
It is now recognized as a skill, and people want to make a living out of it.
As trendy as DIY is in this present time, it can be dated back to the 1950s.
The end of world war II brought about many changes to people’s daily lives in society.
At this time, homeownership was on the increase, there was a high payment, and there were fewer working hours in a week.
Due to this change, people created more time to work on home improvement projects with their families.
And since then, people have shown interest in DIYs, and it’s also reflected in this century.
DIY techniques have improved since the arrival of televisions and the internet.
Recently, you will hardly find a Diy handbook.
Instead, you get tutorials on Youtube channels and some browsing platforms.
This makes it easier for people to learn new skills to improve their homes or make an income.
So, DIY has grown from a basic home improvement and maintenance project into profitable business opportunities.
Today, the DIY market is worth billions of dollars globally, recording $664.59 billion.
The best part is that you can run the company from your home, requiring low capital investment.
Still, it has a broad market with high-profit potential.
The skills involved in the business are not challenging to master, and you can learn them without taking a physical course.
Additionally, it affords you the opportunity of being your own boss.
Let’s look at more advantages of starting a Diy business.
Benefits Of Diy Business; Diy Business Business Ideas
You Do What You Love
Many people out there don’t enjoy their jobs.
However, they stick with it to earn a living.
On the other hand, when you are doing something you are passionate about, the financial benefit often becomes a secondary reason for venturing into the business.
So, DIY business ideas allow you to create items with love and sell them to people who love to own them.
Boss Of Yourself
Owning a DIY business can make you a boss of yourself.
That means you don’t have to answer to anybody apart from yourself.
You are in charge of every aspect of your business, both decision-making and scheduling working hours.
You choose to make your craft at any time you seem fit.
Working as your boss will relieve you of certain pressure you get from working for someone.
Above all, you are responsible for nurturing your business and watching it grow.
It’s a Home-Based Business
The joy of running a home-based business is that you do not need to worry about commuting like most 9 to 5ers.
Most DIY businesses, if not all, can be run from home or a kiosk not far from home, and as such, there will be less need for long-distance commuting.
Additionally, running a home-based business saves you the cost of renting a space.
Naturally, small business owners don’t suffer too much stress as most 9 to 5ers do.
As a DIY entrepreneur, you are free from some enclosed workplace stress.
When you run your business independently, you will exempt yourself from the stress of commuting and doing a job you don’t enjoy.
It Improves Your Creativity
Another advantage of venturing into the DIY business is that it makes you more creative with your work.
To impress your customers and stand out among your competitors, you have to be more creative.
Continuous involvement in creative work will, in turn, enhance your creativity.
You Can Develop Other Skills Over Time
One of the benefits of going into this business is that it exposes you to other skills.
As time goes on, you will pick up some valuable business skills.
Specifically, when you have employees, you will develop leadership and managerial skills to control the affairs of your business.
These skills will not only help you run your business effectively, but they also help in other aspects of life.
Overall, these are some of the advantages of starting a DIY business.
There is no business without disadvantages.
However, the advantages of this business outweigh the disadvantages.
Nevertheless, let’s know its challenges.
Challenges Of DIY Businesses; Diy Business Ideas
Here is a list of the obstacles most DIY entrepreneurs face in their business.
- Some Diy businesses may be expensive to start, especially if you need to purchase the necessary equipment for operation.
- A startup business takes time before it becomes profitable.
- Also, if you’re into a business that requires a routine process, you may become bored going through the same process repeatedly.
- It may take time for your business to establish and start making sales.
- Pricing your product can become a challenge mainly if the time and money invested in the production process are too much.
- The amount you can make in a day is dependent on how much time you have in a day.
- As an entrepreneur, you are responsible for what happens in your business. So you have to be very careful about the decisions you make for your business.
The major solution for some of these problems is outsourcing an expert who can help you manage them.
Having known the benefits and pitfalls surrounding the DIY business, let’s look at the future relevance of the industry.
What Is The Future Of The DIY Industry?
According to research, the DIY market is predicted to gain a revenue of 1,278 billion dollars from 2022 to 2030.
In 2021, this industry recorded a total profit of $848.2 billion.
Furthermore, this market growth rate is measured at a healthy CAGR of 4.3%.
It was observed that the market experienced notable growth in the online sub-segment than the offline sub-segment through e-commerce.
The growth can be linked to the availability of DIY resources on social media platforms, websites, and Youtube channels.
Due to this, the market is projected to see a 5.42% Compound annual growth rate (CAGR from 2021 to 2030).
Precisely, the market, which recorded revenue of $89.7 billion in 2021, will reach a high-profit margin of $148 billion in 2030.
In conclusion, the Diy business will remain relevant in the few years.
9 Diy Business Ideas; Diy Business Ideas
Below are nine profitable do-it-yourself Diy business ideas you can today.
1. Homemade Cakes
If you enjoy mixing flour and butter to produce delicious cakes, turning that hobby into a business is not bad.
Cake baking is among the profitable homemade businesses you can start with little investment.
Individuals order cakes to celebrate events, such as weddings, birthdays, anniversaries, baby showers, etc.
In fact, without cakes at a party, that party looks incomplete.
Sometimes people buy cakes to eat to satisfy their sweet tooth because almost everyone enjoys eating cakes.
As a person who likes to try out new cake recipes and bake cakes, you can start taking online orders from customers within your vicinity.
When you start this business, you can expect a significant return on investment within a short period.
You can place your prices based on the amount and effort put into each cake.
But do not overprice your product; it can deter customers from patronizing your business.
Furthermore, you can promote your cake bakery business by sharing delicious recipes online via your social media page or website.
By doing so, your business will reach a wider audience, and you will get more orders.
Eating a good cake can make one happy.
So make delicious cakes to make people and your pocket happy.
2. Homemade Soap Making
Do you know you can start a homemade soap-making business and start making a profit from it?
Soaps can be used for different purposes, including hygiene and beauty.
You can make liquid or tablet soap and customize them with unique shapes, designs, and fragrances.
This craft is not so difficult to learn.
You can either learn from a mentor or subscribe to Youtube channels and learn soap making.
If you have practiced enough soap-making methods, you can begin production and supply to interested buyers.
You do not need to spend too much to get started.
Moreover, the materials required for soap production are inexpensive.
However, your earnings will depend on your product’s quality and marketing strategies.
All things being equal, you can recover your startup capital within the shortest time possible.
3. Furniture Creative Remake
Another DIY business idea you can invest in is furniture upcycling with low startup costs.
Furniture upcycling involves buying and recycling old furniture, adding more quality, and reselling it at a higher price.
You can buy an old table or bookshelf, turn it into something unique from its original form, add some colorful paint, and resell it to customers at a fixed price.
Potential customers for this business include those who want to decorate their new home with a modern aesthetic.
You have to consider the money spent on buying and restyling the furniture before you place your price in pricing your product.
Earning potential lies in how many pieces of your furniture you can sell.
To reach a larger community, you can post your product on an E-commerce store such as Esty or social media platforms.
4. Homemade Knitting DIY
If you like to make beautiful hats or sweaters with spokes, it is time to start making serious money from that craft.
Considering its inexpensive initial startup cost, this is amongst the ideal DIY business ideas you can venture into.
You can craft beautiful baby shawls, sweaters, hats, bags, headbands, and many others in large quantities and sell them in your locality.
Even if you lack crafting skills, you can easily take tutorials online and practice constantly.
5. Sewing and Clothing
Another means of making cool money from your home is to become a pattern drafter.
Make dresses and other items with your sewing machine and sell them to people either online or via a physical store.
You can use different fabrics to make beautiful wear to suit people.
Items you can make from a sewing machine include dresses, bags, pants, baby wears, women’s wear, route bags, etc.
You can pick a niche you want to centralize your sewing business and craft beautiful designs.
To promote your business, you can take a nice shot of the items you have made and post them on an online platform.
Alternatively, you can use an E-commerce store where potential buyers are likely to patronize you.
This DIY business requires a low capital startup.
However, you’ll need to be creative to make unique designs and profit from the business.
6. Homemade Candles
Candles are one of the selling niches in the DIY industry.
Therefore, making candles may be an excellent business opportunity for you.
Candles are ignitable wick sealed into wax that provides lights and sometimes scent.
Different types of candles serve different purposes.
As such, you can pick a niche and explore.
You can choose to produce decorative, prayer, fragrance, dining, or birthday candles.
You may decide on more than one candles styles to produce.
The best part of making candles is its low startup cost and high-profit potential.
Like every other DIY business, you can take lessons on Youtube channels if you are new to the business.
Also, brand and package your product to attract your ideal customers.
7. T-shirt Designer
Creating designs on plain T-shirts can be another means of getting extra money.
There are a lot of plain T-shirts that you can make more attractive by adding some beautiful designs to them.
You can get plain T-shirts at wholesale price, add creative designs, and resell them at a higher price.
Also, you can customize a customer’s name on their T-shirt and make them look unique for a reasonable price.
If you have a good eye for photos, take things a little further and start selling your beautiful photo images online.
This is one of the profitable DIY businesses to start for those who love to have their cameras around wherever they go to capture key moments.
There are many business opportunities with homemade photography.
People like to capture beautiful moments of their lives and save them for future reference.
You can serve this purpose with your photography skills.
The tools you will need for a photography setup include;
- A good camera
- Extra batteries.
- Memory card.
- Lens. etc.
The photography market is highly competitive.
So, settling for a less competitive niche can make things a lot easier for you.
9. Start A Woodworking Business
A woodworking business focuses on carving out furniture or other items from wood.
Today, woodworking is in-demand, and people will pay a good amount to get a beautiful piece of well-designed wood.
Examples of woodwork products include; kitchen utensils, tables, chairs, bookshelf, and more.
These items are used in homes, offices, and schools.
You can sell your woodworking products on E-commerce platforms like Esty.
Social media pages like Instagram and Facebook are strategic platforms to post and sell your products.
In estimation, a woodworking business startup cost should be around $2000, depending on your location.
Final Words; DIY Business Ideas
You can start these nine lucrative DIY business ideas either as a full-time business or a side hustle.
Diy businesses are also called home-based businesses because they can be run from your home and do not require high capital to start.
Even more, the skills involved in most of this business are not hard to master.
Therefore you can take some tutorials on Youtube or Pinterest to learn more about your desired DIY skill.
When you find a business niche that interests you, do in-depth research on how to start the business.
The best part of this business is that it is lucrative and has a high possibility of success.
But have in mind that business success is not automatic or does not happen b luck.
You need to put in hard work and stay committed to the process.