Making Money from Your Home

Chances are you spend much of your life in your house and whilst you’re paying for it through your rent or mortgage, it doesn’t necessarily give you much back. Yes, you’ve got a roof out of your head but you can actually use your home to make money in other ways too. Below are ten top ways you can make cash from your home.

Spare Room Lodger

The government has set up the potentially profitable rent-a-room scheme which gives people with a spare room the chance to earn up to £4,250 a year without taxes. You simply need to find a lodger who you’re comfortable living with and you’re onto a winner.

Event Hot Spot

If you’re lucky enough to live near to a sports or festival venue then your home could net you a mini fortune when a big event takes place. Renting out your home during the Edinburgh or Glastonbury festivals or for a big sporting event such as the Masters Golf Tournament can be highly profitable. Plenty of Londoners made a killing during the Olympics.

Film Set

You could rent out your home to film and TV companies too as a location set. Registering with one of the companies should be easy enough and although demand is usually for large spacious houses, films are still made inside little terraces too!

Photo Shoots

If you have a home which has something a little different about it chances are you can rent it out as a photo shoot set. Photographers are always looking for somewhere unusual to snap their next shot and if you think your home is one of these places there are websites easily locatable where you can sign up.

Become a Host

Rent out your room to a student who’s in England from their home country for the summer or perhaps a school term. It’s a great way of providing a safe environment for a young person and earns you a little cash too.

Swap Houses

This isn’t exactly money maker but it is a way of saving cash. If you organise a house swap you can save cash on your holidays as you visit the home of the person you’ve chosen to swap with. There are opportunities worldwide.

Use your Office

Your home office is usually the least used room and perhaps you should start making use of it. Make money online by completing surveys. You collect points on many sites and when you’ve collected enough you’ll receive a cheque in the post.

Drive Way Cash

Listing your drive or garage online can give you a little extra pocket money to play with. You can rent out your drive when it’s not in use and people tend to earn between £50 and £300 month without having to do anything much at all.

Clutter Away

Sell your old stuff and reorganise your home. Sell your old, unused laptop for cash, rehome all those old books you haven’t looked at for years and enjoy a clean and tidy home without mess and junk everywhere. You can use the cash you make to treat yourself!

Mini Farm

If you have a large garden that you don’t make much use off why not consider turning it into a small holding? You can keep chickens and grow vegetables and then sell on your produce.

The Different Types Of Businesses And The Key To Profit

The organization which involves trade of services or goods or both to the consumers is called business. Business model and business plan plays a very important role in a business operation’s outcome. Capitalist economies predominate most of the privately owned businesses. State owned or nonprofit businesses also exist. When multiple individuals own a business it is called a company.

 

Ownership in developing the business

There are different forms of business ownership such as Sole proprietorship, Partnership, Cooperative and Corporation.

When a single person owns a business for profit it is known as a sole proprietorship. He can run the business alone or others can be employed to do this job. Businesses owned by 2 or more persons are called Partnership. General Partnership, Limited liability Partnership and Limited Partnership are the three classifications of partnership business for profit. Limited Liability Business in which members have a separate and different legal personality is termed as a Corporation. Both privately owned and Government owned organizations exist. A for-profit organization is actually owned by the shareholders. A board of directors is elected by them who hire the managerial unit of the corporation. It can be both publicly or privately owned. A Cooperative is also a limited liability business. There are members who run the business unlike corporation which has shareholders. A cooperative can be both non-profit and profit. It can be classified into worker cooperatives and consumer cooperatives. 

Classification of Businesses

Businesses can be classified to many forms such as Mining and Agricultural business, Financial business, Real estate businesses, Manufacturers, Retailers and Distributors  Service business, Information business, Transportation and Utilities. 

Elaboration for business

Raw material production such as minerals and plants are the main concern of Mining and Agricultural businesses. Companies like banks which invest and manage capitals for earning profit are known as financial businesses. When profit is generated by renting, selling or developing properties such as residential homes and lands, then it is termed as Real estate businesses. The production of products from raw materials such as the making of goods like pipes or cars is made my Manufacturers. Retailers and distributors provide sales and distribution services. It helps the manufacturers in the sale or distribution of the products made by them. Service businesses provide goods and services to the consumers such as any business organization or government organization. It earns profit by putting labor and service charges. Resale of intellectual properties such as package software, movie studio for generating profit is carried out by Information businesses. The transportation business provides transportation of individuals or goods and they earn profit by applying transportation charges. Sewage treatment or electricity services fall under the Utility businesses.

Management in studies and business

Management is the study of effective and efficient business operation. The different branches of management include marketing management, strategic management, financial management, human resource management, operations management, production management, information technology management and service management. Owners are engaged in business administration indirectly or directly through manager employment. Three components namely human resources, capital or tangible resources and financial resources and are administered by hiring managers or owner managers. It constitutes worth or value of the businesses.

Author Bio:
Austin Richard is an IT professional and instructs EMC Certifications. He likes to write for different blogs on different interesting topics. He is E20-533 Exam qualified instructor.