In this post, I’ll cover 10 profitable business ideas to help you start brainstorming your next entrepreneurial venture. Whether you want to start a part-time side hustle or full-time business, this guide is for you.
Disclosure: Please note that some of the links in this post are affiliate links and at no additional cost to you, I will earn a commission. Know that I only recommend tools and learning resources I’ve personally used and believe are genuinely helpful, not because of the small commissions I make if you decide to purchase them. Most of all, I would never advocate buying something that you can’t afford or that you’re not yet ready to implement.
No matter how rewarding your full-time job may be, finding profitable business ideas and eventually becoming self-employed is even more meaningful than great pay and solid benefits.
Choosing the path of entrepreneurship and working on finding great business ideas, is without a doubt riskier than being content with holding a 9-5 job. It requires more sacrifice.
However, once you’re reaping the lifestyle benefits of being your own boss and hustling your way into making significantly more money with your business ideas than you ever could at your day job, the hard work will have all been worth it. So, let’s dive into the most lucrative business ideas you can start this year.
One of the 10 profitable business ideas you can start this year is blogging.
Blogging is a way for the average person to express their opinions and knowledge on a variety of topics. It can be used as a business or a hobby. Most people would want to start a blog, but not all of them know what to write or how to create one. Every human has a story to share, and a blog allows them to reach an audience of millions through the Internet. A blog is also a great place to learn more about yourself and the world around you.
There are several different types of blogs, each with its own purpose and agenda. For example, a blog can be used to showcase a portfolio or share information. But its main purpose is to draw traffic to its owner’s website. The more readers that visit a blog, the easier it will be to make money through it and promote your business.
When you start a low-cost online business, you’re most likely selling one of three things:
- Your time (coaching or consulting).
- Your own products (eCommerce or SaaS).
- Someone else’s products (affiliate marketing or ads).
With a blog, you can sell all of these from one website and make the most money from any low-cost online business idea out there.
If you want to learn how to start a successful blog and make money, you can do so on this page
2. eCommerce Business
The 2nd on this list of the 10 profitable business ideas you can start online is eCommerce. Ecommerce is the buying and selling of products and services electronically over the Internet. There are many ways to do this, Amazon FBA, dropshipping, or full-fledged manufacturing of your own products and selling them on your own website. You can buy and sell goods and services from any part of the world with the click of a button.
The growth of eCommerce has led to a wide variety of industries. Physical goods are the most popular type of eCommerce, and retailers use this method to sell large quantities of goods. Other types of eCommerce include consumer-to-consumer (C2C) transactions, where consumers purchase their own personal goods online. This type of online shopping allows consumers to have more choices and control the price and is often done through social media or a website.
Businesses that use eCommerce services typically have a website and can sell a variety of products. These products can include physical goods (such as books or movies), digital goods (such as software), or both. These items can be ordered online and delivered to your home or office. As long as you have an internet connection, you can start your business. What is more, you don’t need a storefront, and there are no operating costs.
If you want to learn how to start an eCommerce business, you can do so on this page
3. Dropshipping Business
The 3rd on this list of the 10 profitable business ideas you can start this year is dropshipping. This kind of business model allows you to buy products from a supplier and resell them to customers. Since the wholesale supplier will handle the fulfillment and packaging, you’ll only need to handle customer service and satisfaction. However, the process is not fully automated, so you still need to monitor the orders and fulfill them.
There are many advantages to dropshipping. One of the biggest benefits is the reduced startup cost. With drop shipping, you don’t have to invest large amounts of money to start your business. Your largest expense will be the advertising budget, which you can scale as your store grows and traction increases. You’ll only have to deal with one company’s products, while your suppliers will take care of the rest. This will reduce your risks and help you scale your business faster.
Dropshipping is a good option for beginners since you don’t have to fulfill orders or ship them yourself or have an actual store. The retailer just has to generate online orders and send the shipping information to the wholesaler. The dropshipping suppliers manage all of the shipping.
If you want to learn how to start a dropshipping business, you can do so on this page
4. Graphic Design
The 4th on this list of the 10 profitable business ideas you can start online is graphic design. Graphic designing is an art form that uses creative tools to communicate with customers and clients. Its importance cannot be understated. From the caves of Lascaux to the Trajan’s Column in Rome, the use of graphics has helped businesses gain credibility throughout the ages. Today, it is used in everything from packaging materials to the neon lights of Tokyo. It is believed by almost all marketers that design plays a vital role in digital marketing. It contributes to brand awareness and influences customer decision-making.
The most important purpose of graphic design is to promote a product. A good design creates trust and credibility among consumers. In addition to helping build belief, good content solves the problems of its audience. Bad graphics affect the efficiency of a workplace or worker’s productivity. A business website should be easy to use, and its design should be simple and readable. It should be attractive and easy to navigate. It should also have an appealing color scheme and legible fonts.
Another purpose of graphic design is for marketing and advertising. Successful marketing campaigns are essential for the success of any business, and it is crucial to connect with customers. Effective marketing strategies engage people based on their wants, needs, and awareness. A great design helps companies communicate their messages more effectively. A successful design is a combination of art and functionality. By combining these elements, an effective campaign will result in more conversions and higher profits.
This lucrative business idea is great for creatives type. While having a formal background in graphic design is absolutely going to be helpful, it’s also relatively easy to learn the foundations of graphic design on your own.
Companies are always on the lookout for graphic designers to help them with their brand image. From designing marketing collateral like banners, posters, and logos to designing landing pages and websites, the opportunities are vast. You can pitch your design skills to small business owners or individuals to start your own business. Graphic designers can also join freelance websites like Fiverr, and Flexjobs to find relevant work.
If you want to learn Graphic design, you can do so on this page
5. Online Courses and Coaching
The 5th on this list of the 10 profitable business ideas you can start online is online coaching. This is one of the easiest lucrative business ideas based on teaching from your expertise. It has become easier to share your knowledge or expertise via online course platforms. If you are a subject matter expert or passionate about something, then you can convert it into a substantial income. There are also several online platforms, including Udemy, Thinkific, and Teachable, to help you get started quickly. You can register on these platforms and start coaching right away.
Offer online coaching classes to students, and build a community to help while building your online coaching business. You can set up a Facebook page or even a podcast where you can reach out to people looking for online coaching classes. All of these coaching and training-based business models can be done at a low cost and at home.
If you’re an expert at something, there’s likely an audience of people online who would be willing to pay to become an expert in your field—just like you. If you want to take your skills and turn them into an online course that teaches others how to get the same results you’ve achieved in your life, career, or business, start with How to Create an Awesome Online Course on Udemy, where the instructor Miguel Hernandez covers how he makes over $90,000/yr teaching online. You’ll learn from more than 8 hours of video instruction.
If you want to learn how to create an awesome online course, you can do so on this page
6. Web Development
There are over 4 billion internet users in the world and 6 out of 10 small businesses have a website. Front-end web development is a valuable skill to cater to the surging demand for launching new websites. You can start by developing websites for your friends and family to polish your skills.
While there are a lot of website builders that can help small businesses create their own websites, developers are needed for more custom jobs (and new businesses are always looking for efficient coders at cost-effective prices). You can kickstart your career by offering competitive prices for your services and then slowly transform it into a more lucrative business plan by solidifying your portfolio. As a web developer, you’ll build incredibly valuable skills that are in extremely high demand.
If you want to learn web development, you can do so on this page
7. Affiliate Marketing
The 7th on this list of the 10 profitable business ideas you can start online is affiliate marketing. Affiliate marketing is a way of making money online. It’s really a simple concept. When you are an affiliate marketer, you promote a product, service, or site for a business, and you as a publisher get rewarded for doing so.
In most cases, you find products related to your niche and offer them on your website or blog. You promote the products and post a link on your site where they can purchase the products. Then, when someone follows that link to buy something, you earn a commission. The commissions can be either a percentage of the sale or a fixed amount.
Similar to blogging, starting an affiliate business can generate passive income. If you already have a website that’s driving targeted traffic, a great way to make passive income from the content you’re already creating is through affiliate marketing and joining the right affiliate programs like ShareASale, Rakuten, Clickbank, and Skimlinks.
According to one blog income report study, bloggers making between $7,500 — $25k per month make 38% of their income from affiliate marketing. If you are an expert in a particular niche, you can write reviews or comparisons of products. You can offer free stuff to your email list, or you can create a cheat sheet for people to download with your affiliate links in it.
If you want to learn affiliate marketing, you can do so on this page
8. eBook Publishing
Still, on the 10 profitable business ideas, you can start online. eBook publishing is a great way to reach an audience for your writing, and a lot of people are looking to read eBooks. If you are someone who enjoys writing, then packing and selling ebooks can be a very fulfilling online business for you. Packaging your skills and knowledge into a downloadable eBook that delivers value to those seeking to learn a skill, advance in their careers, or start their own businesses, makes for a strong value proposition if you learn how to find your target audience (which is why it makes for such sustainable lucrative business ideas for many authors)
However, there are some things to keep in mind when creating your book. The first thing is to have a set schedule. This will allow you to maximize your sales by knowing when you should expect your book to be available. Usually, this is done by breaking your eBook into sections or chapters and dividing the total number of headings by the number of weeks you have until your deadline. It is also important to stick to your weekly goal. A first draft can take anywhere from three months to a year, depending on your other commitments.
While writing an eBook isn’t a difficult process, it can take a lot of time. But there are tools you can use to get the job done faster. You can sell your ebooks globally on your website. You can also sell on Amazon and other similar platforms to make more money.
If you want to learn ebook publishing, you can do so on this page
9. Freelance Content Writing
It is not an easy job and not everyone can do it, hence if you have great writing skills, then this can be one of the best lucrative business ideas you can start from home. Content writers are in huge demand. If you have a knack for crafting engaging stories and writing articles, then you can turn your skills into a lucrative freelance writing business. It has a lot of money and has also become very popular these days because of its increased demand.
From website copy and sales pages to blog posts and email newsletters, you can write content for a variety of purposes. Experienced freelancers earn anywhere between $1,000 to $5,000 per week. Freelance copywriting gives you the opportunity to earn money from any location.
A lot of companies hire content writers for attracting more and more people to their websites. People prefer content writing because nicely written content can take the company to the next stage. The only way to earn money through it is if writing comes naturally to you, else you would not be able to create an impression.
There is no educational background or prior experience required for this but for becoming a good writer you should read books/articles written by other writers and by doing writing practice. Thus, a good content writer is one who can express things by using few words. If you have it in you then you can earn around $5 per hour for a blog.
If you are starting out, you can find work on websites like Fiverr, and Flexjobs. Once you build your portfolio, you can even launch your own website and generate inbound leads. One other option is to connect with potential clients on social media platforms like LinkedIn and offer anything from content writing to SEO writing.
10. Instagram Marketing
Another name for this is Instagram influencing. Instagram marketing is a type of social media marketing, which involves promoting a brand on Instagram. This social media platform helps brands connect with an enormous audience, increase brand awareness, and boost sales. Marketers are always in high demand and do well as consultants.
First, you have to choose your niche. It can be anything from tech gadgets and marketing to beauty or fitness. Make sure to select a niche you’re passionate about and can create a lot of content for.
Next, you have to build a solid Instagram following by posting interesting content and discussing helpful things that are relevant to your target audience.
There are a lot of social media marketing tools to help you schedule posts in advance so that you’re not always struggling to come up with new posts.
As you build up a strong following on your Instagram account, you could quickly be approached by major brands, gear companies, and other relevant businesses that sell products or services related to the type of content you share on Instagram.
It requires a lot of hustle and not everyone can make it as an influencer.
But people with the right marketing skills, know-how, (and thousands of Instagram followers) can earn anything from $500 to $5,000 per post (or more)—which makes for a very lucrative business idea.
If you want to learn how to monetize your Instagram as an Instagram Influencer, you can do so on this page
There you have it, 10 profitable business ideas you can start online. This is a new chance for you to start an online business and create absolute financial and lifestyle freedom for yourself.
This year is all about taking action. With this big list of 10 profitable online business ideas, you have plenty of options to get started. Don’t wait any longer, and definitely, don’t put it off until next year!
Take a few ideas and run with them – by this time of the next year, you very well may have your own successful and profitable online business! Just be sure to report back here and let us know your results!
If you have other online business ideas you think are worth mentioning, be sure to drop them in the comments below!