When most people think of home businesses, the first things that comes to mind are Network marketing, Internet marketing or Information marketing. However, things have changed. The field has broadened and the possibilities have opened to include new and more innovative services.
The following three businesses are little known services, yet highly lucrative alternatives.
Life Coaching Service: Many people readily offer advice to friends, family, and in some cases, even complete strangers. These days, this simple model is a business service called “Life Coaching.”
Depending on where you are located, Life Coaching can be done without any specific licensing or degree. However, because you may be facing competition from those who may in fact have Doctorates or Masters in Psychology, it may be a good idea to at least acquire a certification.
Although colleges around the country haven’t officially classified “Life Coaching” as a major, Harvard, Yale, Duke, NYU, UC Berkley, Penn State, and others have all started coaching programs. In addition, there are several online certification courses available, as well as, continuing adult education courses offered at local colleges.
Jared Mellow, a Life Coach in Southern New Jersey says, “Life Coaching offers a broad market. I specialize in teens and adolescents. But the market is open to various niches. I see an exciting future within the industry.”
According to Forbes Magazine, Life Coaching is a 2 billion a year industry, and is projected to grow to 10 billion by 2020. Services are routinely charged on an hourly bases, and run $50 – $100 per hour.
Social Media Manager: As Social Media continues to grow in the business arena more business owners are struggling to keep up with the ever-increasing technology and constant platform expansion.
Twitter, Facebook, YouTube, LinkedIn, Instagram, all present viable marketing medias, however, most local brick and mortar businesses don’t have the time, energy or know how to take advantage. This creates opportunities for those who are well versed with these platforms.
Business owners welcome Social Media Managers, as they know the power, reach and cost effectiveness of marketing online. An increasing number of businesses are anxiously looking to fill this need in their own marketing.
The industry is positioned for massive growth due to the sub-sectors available within Social Media. Companies who don’t currently have a strong Social Media presence are looking to create one, and those who do in fact have one are looking to maintain, and even grow their position.
According to US Department of Labor, public relation activities will increase beyond 12% over the next 6 years due to the increase in Social Media. Managing Social Media, interacting with customers, monitoring customer satisfaction, announcing new products and services, all fall into the Social Media Marketing activities.
The industry standard for Social Media Manager’s compensation is based on monthly fees. Average fees, according to specific Social Media service packages range from $400 – $1000 a month per client.
Public Adjuster: Public Adjusters are advocates for home owners and business owners who incur damages and are in need of placing insurance claims to recover expenses in order to return their homes or businesses to pre-damage condition.
The demand for this service is enormous as statistics demonstrate that of the average 11 million home insurance claims placed annually in the United States, less than 5% are represented by Public Adjusters.
The value in the service is in properly representing the policyholder, who carries the “Burden of Proof” in the claim’s process. In order to recover the full extent provided within the policy, home and business owners must prove their damages. Must simply don’t know how to effectively do so.
Smart Money Magazine confirms this by stating that most insurance claims are settled with the initial offer, and many times policyholders are walking away with as little as 25 – 40 cents on the dollar.
Art Lattanzi, a 17 year veteran Public Adjuster says, “With the weather becoming more and more turbulent, Public Adjuster are in high demand. In New Jersey for instance we see that after two years since Super Storm Sandy, thousands of homeowners are still fighting with insurance companies. Without Public Adjuster representation, homeowners are at the mercy of insurance companies.”
Public Adjusters are licensed and bonded by their respective states. Compensation is usually charged on a contingency bases. Fees range from 10 – 35% of the settlement recovered.
For those entrepreneurs looking for the opportunity to provide a valuable service to the public, while earning a great income, Life Coaching, Social Media Managing, and Public Adjusting are three viable choices that are worth a closer inspection.