Updated: Jun 11
I may be biased, but I think of the best side businesses you can start is a life insurance business. Here's some of the top reasons why I feel so:
You'll need a professional license. You can definitely start side MLM type business that doesn't require a license, but the commissions won't be as high. You might make as low as $50 a sale or even lower in some cases depending on what you're selling. Also, most of those products your MLM business sells, clients can buy online cheaper and often from other MLMers who quit and are selling their merchandise. Because you're licensed, you're on the same level as a real estate agent, CPA etc.
Commissions are high. You can earn a few thousand dollars a sale depending on which product and your clients' needs, but you can even earn several thousand of dollars. I've seen people earn 6 figures in 1 sale.
There's a lot of people to help. We definitely don't have a shortage of clients. We have a shortage of life insurance agents. Life Insurance is something that most everyone can benefit from. I'm also speaking from the perspective of a widow and I can tell you first hand that my daughters and I are so blessed to have had a husband/father who left us life insurance. To learn more about my story read this.
You're going to make a huge difference in your community. When the life insurance client passes away or becomes ill and the life insurance pays out in either case, the recipient of the death benefit or living benefit will be beyond grateful. With people resorting to car washes and bake sales to raise money for funerals, receiving a death benefit is the best situation a family can ask for. When someone is ill and can't work and needs money to pay bills and their mortgage, being able to receive money they don't have to pay back is a blessing. You can be that blessing for that family.
There's different ways to build your agency and I cover them in this video below: