Do you have a vacant house sitting unused? You may be missing out on a potential income stream.
A vacant house is more than just an empty space. It’s an opportunity to start a profitable business venture.
From renting out storage to running a home-based enterprise, there are many ways to turn that idle property into a money-making asset.
What is a Vacant House Business?
A vacant house business involves using an empty residential property for commercial purposes. Instead of letting the house sit unoccupied, you put it to work generating income.
This could mean anything from storing inventory for an online store to setting up a dog grooming salon. The key is finding a business idea that fits the space and your skillset.
Examples of Vacant House Businesses
- Renting out storage space: If your vacant house has a garage, basement, or spare rooms, you can rent them out as storage units. This is a simple way to generate passive income without much upfront investment.
- Starting a home-based business: A vacant house provides ample space to run a small business. Depending on your interests and expertise, you could start a catering company, a tutoring service, a yoga studio, or countless other ventures.
- Turning the property into a short-term rental: With the rise of platforms like Airbnb and VRBO, short-term rentals have become a popular way to monetize empty properties. By furnishing the house and listing it online, you can attract travelers looking for a comfortable place to stay.
Types of Vacant House Businesses
There are several types of businesses you can run from a vacant house, depending on your skills, interests, and the property’s layout.
Service-Based Businesses
- Pet-related services: If you love animals, consider offering dog grooming, daycare, or pet sitting services from your vacant house. You’ll need to create a safe, comfortable space for the pets and obtain any necessary licenses or certifications.
- Educational services: Your vacant house could be the perfect setting for tutoring students or teaching classes in subjects like art, music, or cooking. You may need to make some modifications to create a conducive learning environment.
- Food-related services: If you have a passion for food, your vacant house could be the launchpad for a catering business or personal chef service. You’ll need a well-equipped kitchen and may need to obtain permits from your local health department.
Product-Based Businesses
- E-commerce: A vacant house provides ample space to store inventory for an online store. You can sell products you create yourself or source from wholesalers. To get started, you’ll need to choose an e-commerce platform, set up your website, and develop a marketing strategy.
- Handmade goods: If you’re crafty, your vacant house could be the perfect place to create and sell handmade items like jewelry, candles, or clothing. You can sell your products online, at local markets, or through consignment shops.
- Reselling: Your vacant house could serve as a base for a reselling business, where you purchase products from wholesalers or manufacturers and sell them for a profit. You’ll need to research potential products, find reliable suppliers, and develop a pricing strategy.
Rental Businesses
- Storage rentals: If your vacant house has a garage, basement, or spare rooms, you can rent out the space for storage. This is a relatively low-maintenance business that can provide a steady stream of passive income.
- Vacation rentals: If your vacant house is in a desirable location, you could turn it into a short-term rental property using platforms like Airbnb or VRBO. You’ll need to furnish the space, create appealing listings, and be prepared to handle bookings and guest inquiries.
- Leasing to businesses: Depending on your property’s layout and location, you may be able to lease it to other small businesses looking for office, retail, or studio space. This can provide a more stable rental income than short-term rentals.
Benefits of Starting a Business in a Vacant House
Starting a business in a vacant house offers several advantages that can help you get your venture off the ground quickly and efficiently.
- Low overhead costs: One of the biggest benefits of using a vacant house for your business is the potential to save on overhead expenses. You won’t need to lease a separate commercial space, which can be a significant cost for new businesses. Instead, you can use the existing space in your vacant house, such as a spare room or garage, to set up your operations. This can free up cash flow to invest in other areas of your business, such as marketing or product development.
- Flexibility: Running a business from a vacant house allows you to start small and scale up as your business grows. You can begin part-time while keeping your day job, which can provide financial stability as you build your customer base. As your business expands, you can gradually dedicate more time and resources to it. Additionally, if you need to pivot your business model or adjust your offerings, you can do so without being tied to a long-term commercial lease.
- Tax advantages: When you use a portion of your vacant house for business purposes, you may be able to deduct certain expenses on your taxes. These can include a percentage of your mortgage interest, property taxes, utilities, and maintenance costs. To qualify for these deductions, you’ll need to follow IRS guidelines for home-based businesses, such as using the space exclusively and regularly for work. Consult with a tax professional to determine which deductions apply to your specific situation.
- Convenience: Having your business located in a vacant house can offer significant convenience. You won’t need to commute to a separate office or storefront, which can save time and transportation costs. This can be especially beneficial if you have family obligations or other commitments that make a traditional 9-to-5 schedule challenging. Plus, you’ll have the flexibility to work on your business whenever inspiration strikes, whether that’s early in the morning or late at night.
- Increased control: When you run your business from a vacant house, you have complete control over your workspace. You can set up the space to suit your specific needs, whether that means creating a dedicated office, setting up a workshop, or converting a room into a studio. You won’t need to worry about noisy neighbors or shared facilities, and you can make changes to the space as your business evolves without needing a landlord’s approval.
How to Choose the Right Vacant House Business Idea
Selecting the ideal business concept for your vacant house involves careful consideration of several factors.
- Align with your skills and passions: Choose a business that plays to your strengths and aligns with your interests. If you have a background in education, starting a tutoring service or teaching classes may be a natural fit. If you’re an animal lover, a pet-related business could be fulfilling and successful.
- Identify market gaps: Research your local market to pinpoint unmet needs or underserved niches. Look for opportunities where your skills and resources can fill a gap. For example, if there are few options for pet grooming in your area, starting a mobile grooming service could be a viable business idea.
- Evaluate feasibility: Assess whether you have the necessary resources to launch and sustain your chosen business. Consider factors like startup costs, space requirements, and any specialized equipment or certifications needed. Determine if you can realistically afford to get the business off the ground and maintain it over time.
- Understand zoning laws: Before committing to a business idea, research local zoning regulations and homeowners association rules. Some types of businesses may not be permitted in residential areas or may require special permits. Ensure that your chosen venture complies with all applicable laws and regulations to avoid legal issues down the road.
- Gauge market demand: Evaluate whether there is sufficient demand for your product or service in your local market. Conduct market research, survey potential customers, and analyze competitors to determine if your business idea has a realistic chance of success. Consider factors like pricing, target audience, and marketing strategies to stand out in your market.
- Plan for growth: While starting small can be advantageous, it’s important to choose a business idea that has potential for growth. Consider whether your vacant house provides enough space to scale your operations as demand increases. Think about how you can expand your offerings or reach new customers over time to build a sustainable, profitable business.
10 Profitable Vacant House Business Ideas
1. Start a Dropshipping Business
If you’re looking for a low-risk way to start an online business from your vacant house, consider dropshipping. With this model, you can sell products without holding any inventory. When a customer places an order, you simply forward it to your supplier, who ships the product directly to the customer. You earn a profit on the difference between the wholesale and retail price.
To get started, you’ll need to choose a niche, research potential products and suppliers, and set up an online store. Platforms like Shopify and WooCommerce make it easy to create a professional-looking website and manage your dropshipping business.
2. Sell Handmade Products Online
If you have a crafty side, your vacant house could be the perfect place to create and sell handmade products online. Whether you make jewelry, candles, soap, or clothing, there’s a market for unique, artisanal goods.
To succeed in this competitive space, it’s important to develop a strong brand identity and create high-quality products that stand out. You can sell your handmade items on platforms like Etsy, Amazon Handmade, or your own website. Don’t forget to leverage social media to showcase your products and connect with potential customers.
3. Offer Dog Grooming Services
For animal lovers, starting a dog grooming business from your vacant house could be a rewarding venture. You can offer a range of services, from basic baths and brushing to more advanced grooming techniques like haircuts and nail trimming.
To set up a dog grooming business, you’ll need to create a safe, comfortable space for the dogs, invest in quality grooming equipment, and obtain any necessary certifications. You can market your services through local pet stores, veterinarians, and online directories.
4. Teach Classes or Workshops
Your vacant house could be the perfect setting for teaching classes or workshops in a subject you’re passionate about. Whether you’re an experienced yoga instructor, a talented artist, or a skilled chef, there are plenty of opportunities to share your knowledge with others.
To get started, determine what classes or workshops you want to offer and create a curriculum. You’ll need to set up a space in your house that’s conducive to learning and invest in any necessary equipment or supplies. Market your classes through local community centers, social media, and online event platforms.
5. Rent Out Storage Space
If your vacant house has extra space, such as a garage or basement, you can turn it into a profitable storage rental business. Many people need extra storage space for personal belongings, business inventory, or seasonal items.
To set up a storage rental business, you’ll need to clean and organize the space, invest in shelving or storage containers, and determine your pricing structure. You can market your storage rentals through online classifieds, local bulletin boards, and word-of-mouth referrals.
6. Start a Subscription Box Business
Subscription boxes have become increasingly popular in recent years, with options available for everything from beauty products to pet supplies. If you have a passion for curating unique products, starting a subscription box business from your vacant house could be a fun and profitable venture.
To create a successful subscription box business, you’ll need to choose a niche, source high-quality products, and develop a memorable brand identity. You can market your subscription boxes through social media, influencer partnerships, and online advertising.
7. Offer Bookkeeping Services
If you have a knack for numbers and attention to detail, starting a bookkeeping business from your vacant house could be a lucrative opportunity. Many small businesses and entrepreneurs need help managing their finances but can’t afford to hire a full-time bookkeeper.
To offer bookkeeping services, you’ll need to have a strong understanding of accounting principles and be proficient in bookkeeping software like QuickBooks or Xero. You can market your services through local business associations, online job boards, and networking events.
8. Create and Sell Digital Products
If you have expertise in a particular subject, creating and selling digital products could be a profitable business idea for your vacant house. Digital products can include ebooks, courses, templates, or printables.
To create digital products, you’ll need to identify a topic that people are willing to pay for and develop high-quality content that provides value. You can sell your digital products through your own website, online marketplaces like Gumroad or Teachable, or through affiliate partnerships.
9. Provide Virtual Assistant Services
As more businesses shift to remote work, the demand for virtual assistants has skyrocketed. If you have strong organizational and communication skills, starting a virtual assistant business from your vacant house could be a great opportunity.
To become a virtual assistant, you’ll need to determine what services you want to offer, such as email management, social media management, or data entry. You can find clients through online job boards, freelance marketplaces, or by reaching out to businesses directly.
10. Open a Consignment Shop
If you have an eye for fashion and a knack for sales, opening a consignment shop in your vacant house could be a fun and profitable business idea. Consignment shops sell gently used clothing and accessories on behalf of individual consignors, who receive a percentage of the sale price.
To start a consignment shop, you’ll need to create an inviting space to display the clothing, develop a consignment agreement with sellers, and price items competitively. You can market your consignment shop through local fashion events, social media, and online marketplaces like Poshmark or ThredUp.
Tips for Successfully Running a Business from a Vacant House
Create a Dedicated Workspace
Establishing a separate, professional workspace within your vacant house helps you stay focused and productive. Choose a room or area that can be used exclusively for business purposes, and set it up with a desk, comfortable chair, and any necessary storage solutions. This dedicated space will help you mentally shift into work mode and maintain a clear boundary between your personal and professional life.
Invest in the Right Equipment
Depending on your chosen business, you may need to purchase specific tools, software, or supplies to operate effectively. Identify the essential equipment for your venture and invest in high-quality items that will support your productivity and professionalism. This might include a reliable computer, high-speed internet connection, industry-specific software, or specialized machinery.
Create a Logo Today
A strong brand identity is key to attracting customers and building credibility for your vacant house business. Creating a professional logo that reflects your brand’s personality and values is an important first step. Browse sample logos by industry to find inspiration and ideas that resonate with your target audience. A well-designed logo will help your business stand out and make a lasting impression on potential customers.
Prioritize Time Management
Running a business from a vacant house blurs the lines between work and personal life, making effective time management skills a must. Set clear boundaries and establish a schedule that dedicates specific hours to your business, while also allowing for personal time and self-care. Use tools like calendars, to-do lists, and time-tracking apps to stay organized and on task. Regularly assess your productivity and adjust your schedule as needed to maintain a healthy work-life balance.
Leverage Local Resources
Take advantage of local resources to help grow your vacant house business. Attend networking events, join industry associations, and connect with other small business owners in your area. These connections can lead to valuable partnerships, referrals, and support. Additionally, explore local grant programs, small business development centers, and mentorship opportunities that can provide guidance and resources to help your business thrive.
Embrace Digital Marketing
In today’s digital age, having a strong online presence is essential for reaching and engaging with potential customers. Develop a user-friendly website that showcases your products or services, and create a logo that reflects your brand identity. Leverage social media platforms to connect with your target audience, share valuable content, and promote your offerings. Consider investing in targeted online advertising to reach new customers and drive traffic to your website.
Prioritize Customer Service
Providing exceptional customer service is crucial for building a loyal customer base and generating positive word-of-mouth referrals. Respond promptly to inquiries, address concerns with empathy, and go above and beyond to meet your customers’ needs. Encourage feedback and use it to continuously improve your products, services, and overall customer experience. By prioritizing customer satisfaction, you’ll foster long-term relationships and set your vacant house business up for success.
Is Starting a Vacant House Business Right for You?
Running a business from a vacant house can be a rewarding and profitable venture, but it’s not for everyone. Take the time to honestly assess your goals, lifestyle, and risk tolerance before diving in.
- Evaluate your entrepreneurial spirit: Starting a business requires a certain level of drive, motivation, and resilience. You’ll need to be comfortable with uncertainty, able to make decisions independently, and willing to put in long hours to bring your vision to life. If you thrive on stability and predictability, running your own business may not be the best fit.
- Consider the financial implications: While starting a business in a vacant house can be more cost-effective than renting a commercial space, there are still financial risks involved. You may need to invest in equipment, supplies, and marketing to get your business off the ground. Additionally, your income may be unpredictable, especially in the early stages. Assess your financial situation and make sure you have a cushion to fall back on if needed.
- Assess your ability to separate work and personal life: Running a business from home blurs the lines between work and personal life. It can be challenging to switch off and disconnect from work when your office is just down the hall. Consider whether you have the discipline to maintain boundaries and create a healthy work-life balance. If you struggle with separating work and personal time, a home-based business may lead to burnout.
- Evaluate your support system: Starting a business can be isolating, especially when you’re working from home. Consider whether you have a strong support system of family, friends, and mentors who can offer guidance, encouragement, and a listening ear when needed. Surround yourself with people who believe in your vision and can help you stay motivated and accountable.
Ultimately, starting a vacant house business is a personal decision that requires careful consideration of your unique circumstances, skills, and goals. If you have the passion, discipline, and support to turn your vision into reality, a vacant house business could be a fulfilling and lucrative path.
As you embark on the journey of transforming your vacant house into a thriving business, remember that a strong brand identity starts with a captivating logo. LogoMaker can help you design a logo that perfectly represents your new venture, addressing the crucial step of making your brand memorable and professional.
Create a logo for free today and take the first step towards establishing your business’s identity.
