The 5 Most Profitable Business Ideas for Freelancers - Yahoo Finance

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Working at home has given freelancers plenty of options. They can reach out to more companies, develop new skills and pursue multiple side hustles. While it’s great to have more choices, it’s also easy to get stuck with unpromising side hustles.

However, you have a much better chance of success if you go into freelancing knowing the most profitable business ideas. You’ll know what skills to develop and what you have to learn to get ahead.

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Here are some of the most profitable ideas for freelancers to consider.

Software has always been a promising opportunity, as some publicly traded software corporations are worth billions of dollars. A big hurdle has been the effort it takes to create Software-as-a-Service (SaaS) offerings, but that’s changing with artificial intelligence (AI).

Kaveh Vahdat — the CEO of RiseAngle, a leading generative AI-powered game creation company, and the founder and president of RiseOpp, a leading fractional CMO services company — explained how AI has made it much easier for people to create software.

“With low-code and no-code platforms like Bubble, Adalo and OutSystems, freelancers can now create SaaS products without heavy coding skills. By identifying niche problems within industries, such as health, education or real estate, freelancers can develop targeted SaaS solutions that provide recurring revenue,” he said.

Vahdat also provided two examples that demonstrate the earnings potential of this business opportunity.

“Rental property reminder tool: Automate rent collection reminders, tenant communication and maintenance requests for small landlords.”
“Health coach dashboard: A tool that tracks client progress and integrates with fitness wearables like Fitbit or Apple Health.”

It’s still up to you to drive traffic to the software you create with AI, but this route saves a lot of time with the SaaS creation process.

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Vahdat also had a few AI recommendations for freelancers who want to capitalize on the most innovative technology available. Freelancers can pursue this opportunity and work with many businesses, diversifying their income in the process.

“Businesses are drowning in repetitive tasks like data entry, email follow-ups and file management. As a workflow automation consultant, freelancers can help companies streamline these processes by leveraging tools like Make.com, Zapier and AI-powered automation platforms,” he said. “The demand for efficiency in SMBs and startups is soaring, and businesses are willing to invest in freelancers who can save them time and money.”

Vahdat provided three examples of how AI-powered workflow automation consultants can assist businesses.

“Automate lead collection by integrating CRM tools (e.g., Salesforce, HubSpot) with email platforms using Zapier … Build custom automation workflows for e-commerce businesses, such as automating inventory updates and customer notifications … Create personalized dashboards for real-time analytics using automation platforms integrated with Google Sheets or Airtable,” he said.

The rental car market is growing, and Turo is a clear leader in the industry. The platform has more than 3.5 million active renters, but it has only 165,000 car hosts. This mismatch creates an opportunity for car owners who want to rent their cars to make some extra money.

Guillermo Francisco Cornejo is the co-founder and CEO of Riders Share, a motorcycle renting platform. Before starting Riders Share, Cornejo worked in the auto industry for Nissan, GM and Hyundai. He explained how freelancers can start a rental business with their vehicle.

“If you own a vehicle, it is now easier than ever to start a rental business. If you own a car, list it on Turo to earn income from renting it out. If you own a motorcycle, list it on Riders Share and they provide commercial insurance for the duration of the rental. If you own an RV, try RVshare,” he said. “If there is demand for rentals in your area, you can grow the business by adding more vehicles to your fleet — until it is profitable enough you can make it your full-time gig.”

Cornejo’s description of buying multiple vehicles as existing ones generate more profits resembles buying rental properties that provide positive cash flow. However, a key difference is that cars, motorcycles and scooters cost less than homes, making it easier for freelancers to embark on this opportunity.

Templates are critical for creating branded images across multiple social media platforms. It takes a lot of time for businesses to create these graphics, and that presents an opportunity for freelancers, Vahdat explained.

“Ready-made templates save businesses countless hours. A freelancer specializing in creating subscription-based templates (e.g., Notion workflows, Canva designs, Excel dashboards) can carve out a steady income stream. Target specific industries like real estate, event planning or online coaching,” he said. “Create bundles of customizable templates, such as marketing calendars, sales tracking sheets or project management dashboards. Use platforms like Gumroad, Etsy or even your own Shopify store to sell templates directly.”

You can sell templates without subscriptions, but Vahdat recommended using the recurring revenue model. “Build a community around your templates (e.g., a private Slack group for users) and offer subscription plans for new monthly releases,” he explained.

Many businesses establish online presences to attract new customers and increase retention among existing customers. They send email newsletters, write social media posts, publish blog posts and produce other types of content.

Most of these same companies need help with producing their content, and that’s where freelance writers come in. These freelancers produce the blog posts, emails and social media posts that these companies send to their audiences. You can specialize in an industry to charge higher rates or cast a wider net to serve more clients.

SEO and social media have become vital marketing channels, and content creation is a required part of the process. Freelance writers can get started part time and turn it into a full-time income if they continue to prospect.

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