12 ways to make your house a cash cow |
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Products such as Avon cosmetics and Tupperware started the craze. But today,
anything goes: lingerie, essential oils, bath and body products, children's apparel, etc.
And you don't have to be the salesperson; independent sellers may be willing to part with a share of their
profits to use your home instead of theirs.
Share your garage
If you have a garage you never use -- or an extra spot in a three-car garage -- consider renting out that unused space.
A weekend mechanic who lives in an apartment may pay for the chance to work on his or her ride in your
garage. Others may be looking to store a motorcycle, boat, trailer or recreational vehicle.
Still others may prefer the location or convenience of your garage to the local self-storage options,
especially if the price is right. If your home is out in the country, you might even discover the next U2 by renting
your garage to a local rock band.
Go to the dogs (and cats)
Are you wild about animals?
"Consider opening your house as a boarding place for dogs and cats," Brabec says. "Think of all the
widows who are tied to their home because they can't get anyone to take care of their pets."
Many pet owners would prefer to board their animals in a private home rather than a commercial kennel.
If you have the space and inclination, call a few local boarding facilities to get an idea of pricing.
Not ready for extended pet stays? Open a grooming, bathing or pet food distributing business in your home.
"My favorite would probably have to be an animal massage therapist," Jones says. "It's rough work being
a dog or cat, isn't it?"
Grow your own money
If you've got a green thumb and a bit of tillable land, consider growing a cash crop.
Although commodities, such as wheat and cattle, are well beyond the scope of most backyards, berries,
flower bulbs, vegetables, grapes, florist products and landscape plants can be cultivated and sold to wholesalers, at
farmer's markets or on your front porch.
In the Northeast, you can even tap your maple trees and sell the sap to a sugaring operation.
If you didn't get the green-thumb gene, take a slightly different approach.
For example, enterprising Princeton classmates Tom Szaky and Jon Beyer
started their own worm gin, which produces a potent organic fertilizer from worm waste.
Their company, TerraCycle, now sells its products to Home Depot and Wal-Mart. Although Szaky and Beyer started their worm gin in the basement of an office building, you could start a similar venture from the comfort of your home.
Seek inner fulfillment
Home-based entrepreneurs create products for shipment all over the world. Somebody's got to do the shipping, and that's
where your spare space can help.
If you have room to store their items as well as the shipping supplies (boxes, packing material, etc.),
open your own order fulfillment center.
With a little research, you can determine how much to charge. Then, look for companies that would rather
hire you than some faceless, out-of-state fulfillment giant.
If you are computer-savvy, it's easy to take on their inventory control as well.
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