“Online” is a good platform for doing business but not every online business idea is viable. It is important for one to tap into the most profitable of them all
Top 15 Most Profitable Online Business Ideas
With everything being done online nowadays, online businesses are rapidly growing and taking over, especially for the entrepreneurs who would love to work from home and who have no capital to start the business. Starting an online business is probably the best option for business people. This is because most of the profitable online businesses are started with no capital or with very little money compared to physical businesses.
Additionally, with a physical store, the number of clients reached is also restricted to one’s city or state depending on the location and size of the business, and the amount of money you are willing to put in the business. With an online business, you have the chance to target global audience with little effort.
How profitable are online Businesses?
The answer is very profitable but only if you employ the right measures and approach. Having the best profitable online business ideas that most people can do is one of the most effective ways to carry out this type of business. From a research that I recently contacted, I came up with 15 of the most profitable online business ideas that anybody can do from home or the office.
15 Most Profitable Online Business’s
1. Blogging
If you love writing, have an area that interests you and would love to share with the world, then you could consider taking this path. Blogging is amongst the best internet business opportunities that most people have considered venturing in.
The reason why blogging is one of the successful online business is that it requires very little amount of business to start, and some are free like word press and Joomla. One important thing to note about blogging is that you will be required to put an effort to learn about writing quality articles, implementing SEO and perform content marketing. Otherwise, blogging should cost you nothing apart from paying the hosting fee and capitalizing on doing research on articles that would benefit your readers.
There are various ways through which your blog can earn you money.
1. Having advertisements on your blog, mostly through Google AdSense. You earn through per Ad Click (CPC) or per Ad impression (CPI)
2. Affiliate Marketing- You use your blog to market a company’s product or services. You have an agreement with the company that you will receive a certain percentage whenever a client purchases a service or product through your affiliate links.
3. Paid posts and reviews
Although the above blog monetization methods can make you some good money, it is possible to pick the wrong one as a beginner. Picking the wrong monetization channel can lead to your blog not making you any reasonable money. So make sure you do a prior research, and seek help wherever possible so as to select the most suitable one.
One thing to note however is that blogging is not all about writing down your ideas. You need to coordinate between writing quality articles, the right keywords, SEO, building backlinks and content marketing.
2. Online Teaching
Teaching does not mean that you will require a classroom to practice your skills. Offering your teaching services online would be a great online opportunity. To do this type of business, you will have to join teaching websites like Tutor.com where you can sign in and start your business. Alternatively, you can build your own website where you will teach, give tests to your student, mark, and then correct them, all at a fee. This will require you to extensively market the website.
3. Sell Products on Ecommerce Websites
This involves buying products at a cheaper price than the one offered on the market and selling them on Ebay (the process of registering on Ebay is very simple). Just like most websites, you will be required to upload pictures of the products, the details, and the prices.
The reason why it is a profitable online business is that one has the option to sell new as well as second-hand products. You can also sell imported electronic goods without any warrant.
Owing to the fact that fraudsters have also learned how to use this platform to scam buyers, a better option would be selling at Amazon although the joining process is not easy, which is advantageous because the number of frauds is reduced.
4. Start an Online Grocery Shop
In some instances, some people especially those that work for longer hours find it hard going to the grocery store to pick the groceries themselves. Opening an online grocery store would, therefore, be a great online business opportunity.
As the owner of an online grocery store, all you will need is a small website to tell the world of its existence, and also provide a platform through where the orders would be made. Clients would request the type of groceries that they want, specify the quantity, then you will purchase and deliver to the client’s doorsteps at a fee. The good thing with this is that when you buy the groceries at a large scale, you get a discount that translates to profits for you.
Most people that operate this kind of store (those that I know) have a small room with refrigerators where they keep the groceries to be delivered later in the day. To start an online grocery store, you will require some marketing, a few people to help with the deliveries, and someone to manage the business finances. Once people around your area learn of your services, you will run one of the most profitable online businesses that anyone could think of.
5. Web Designing
A web designer has some great knowledge that other people do not. If you possess that knowledge, then web designing is a great online business to start with no capital at all. With more individuals turning to blogging, online businesses, building websites and doing online jobs, and these services will always be in demand all year round.
Websites like Up work and Freelancer.com are some of the sites where entrepreneurs from across the world hire the services of web designers especially from developing countries because they get high-quality work at cheaper prices.
6. Open a YouTube Channel
Having a YouTube channel is a great online business opportunity that one can do from home and it also forms one of the most online profitable businesses. A lot of people nowadays are turning to watching tutorials on YouTube in almost every niche. Entrepreneurs do not just want to just google business opportunities, but they want to view them too, compare notes and act. If you have an interest, knowledge, and the passion regarding a certain topic, then this could be the opportunity you have waiting for. Just like any business, starting a YouTube channel requires one to have original ideas and useful information that most people could relate to.
7. Sell eBooks online
Nowadays, most readers are taking to having their books right on their phones because it is more convenient to read a book from the phone than carrying the physical book. You will be required to get a vendor who will sell, or look through many of the sites that have online books, download them and sell.
8. Management of Social Media Accounts
Most companies, individuals, and even celebrities hire someone to take care of their social media accounts, which comprises of their Twitter, Instagram, and Facebook accounts. What you are required to do is reply to any queries posted on their Facebook pages, reply to their tweets and direct messages. For companies, you will be tasked with constantly updating their information, answering to clients questions, and forwarding any questions that the clients might have regarding the company.
If you are knowledgeable and active in social media sites, then take the step and approach various companies and start this business. Don’t forget however that you will need to have a clean social media profile because you will be tasked with representing the company, and any mishap may tarnish their name. Any online home based business means that you will require very minimal supervision, so you will need to have the best of self-discipline as possible.
9. Start a Do-It-Yourself program
Just as the internet is taking over, DIY programs are also on the rise. Many people have realized that there are numerous ways of reusing old materials and turning them into useful products, using the available resources. Some people are really good at it. If this is you, then you could consider on tapping on this successful online business opportunity.
There are two ways through which you can make money;
a. You choose to buy cheap materials from the market and creating beautiful stuff from it then sell.
b. You can create a youtube channel and tutorials to show people how to reuse old materials, or how to reuse things around the home to come up with completely different ideas.
10. Domain Flipping
Domain flipping is amongst the most profitable online business ideas that have not fully been tapped. This is however not a new venture and several people have ventured into it, and have been successful. Domain flipping business involves purchasing a popular domain at the normal market price and then reselling them at an exceptional price. For instance, you can buy a domain name for only $100 for a year then resell at $10,000.
In this type of business, you can choose to either do it full time or part time depending on how serious you are with the business. You will be required to carry out extensive research so as not to purchase expired domain names. You could peruse through some popular domain names, then create similar domain names and put them up for sale.
Some websites like Sedo and GoDaddy Auctions are well-known websites for selling as well as purchasing domains.
11. Freelance Writing
Written content and content creation are among the most subcontracted online businesses. If you are a good writer and can create quality content then this would be a great opportunity to develop a successful online business. You could start up as a guest writer, ebook writer, or a freelance writer. The first step is to approach the companies or websites that you would love to work for and present some samples of your work.
12. A Proofreading business
Proofreading is not for everyone especially publishers even though they publish the work. Most publishers are doing their work online, and mostly require a professional proofreader to go through their work. If you have an eye for clean work with fewer errors, then you could consider this line of online business.
13. Offer Transcription services
People hold interviews on a daily basis, and the demand to transcript are on demand. To start, get to sites like upwork.com, and start your work immediately. All you will require is a good internet connection, a laptop, and nice earphones and you’ll be good to know. Be aware though that you do not work for fraudsters without pay.
14. Selling handmade items
One in a while you have come across some second-hand clothes being sold very cheaply. From now on, never ignore them. They could be your bridge to a successful and profitable online business. Get to YouTube, and learn on how to make dress extensions, jeans decorations, house decors, toys, clutch bags, etc. the list is endless. Then sell the items online. You will be surprised at how people love the unique stuff.
15. Taking online surveys
This comes as the very last in my list for a reason. Before you take any online survey, go through the company, and be keen on their reviews. Any company with a negative review is not worth working for. On the other hand, if you bump into a good company, do your best and build your name.
Having an online business is one of the best ways to operate a successful business with no capital or less capital or from home. It is however important that you select one or two areas that you are passionate about, and which you are sure once you dive in it, you will not back out. If you do not have the money to start one, then consider venturing into offering services. The service industry is one where a majority of the most profitable online businesses thrive in.