There is no better time than now to start an online business. With accessibility and cheap internet services, anyone with a computer and internet can start their business online. And, even if you are working at someplace, then also you can start your online business side-by-side. Some start it as a hobby or out of passion turning into a successful venture. Who knows, you might get lucky with these ideas.
These are trending online business ideas that have managed to catch the eye and attention of every budding entrepreneur.
1. Drop Shipping: Starting an online e-commerce store requires a lot of undertaking in terms of inventory and investment. Then, you would also need to manage a dedicated website to operate your business. Drop shipping business model is a bit different. Drop Shipping is highly suitable for someone like you who is just starting their online business or someone with limited funds. It is because you don’t need to maintain a lot of inventory (any kind say clothes, gifts, footwear, kitchenware, food, etc.) to deal with customers. This eliminates financial cost, the warehouse requirements full of goods, and the hassle of arranging to send orders across the country. The only skill required is advertising and marketing skill to attract customers. Here’s how it works:
- You list your products on websites like Amazon, Ebay, Etsy, etc.
- Then when a customer places an order with you for a product, you purchase it from a drop ship (manufacturer or wholesaler at a lower price).
- Your drop ship will send it on your behalf to the customer.
2. Sell HandMade and Artsy Stuff: A recent trend has been noticed of selling handmade and artistic stuff online. Many creative souls have started their online business of selling handmade goods, thus turning their passion into a successful business. The bonus of this is that you do not need an online gift shop, an Instagram account will also do in the initial days of marketing your products and taking orders. There are many websites like Etsy, where you can sell your handmade goods.
3. Become a Freelancer: For a long time “freelancer” meant a person who doesn’t have a fixed job and charged a lump sum amount of money. Today, the definition has changed, and many are seeing this as an alternative way to have the cash flow in. Whatever is your skill, you can do freelancing in it—web designing, content writing, coding, teaching, etc. There are dedicated business models that connect freelancers with other businesses like Upwork, Fiverr. The best part? You get to choose your working hours, and you can work on as many projects as you like.
4. Buy and Sell Domain Names: If you find the whole idea of buying and selling property lucrative, you will find this one exciting too. Just like you buy and sell homes, you can buy and sell domain names and make a lot of extra cash. To buy a domain, you need to buy a domain on domain websites like GoDaddy.com, or domain auction sites, like Namejet or Sedo. To sell a domain to someone; you would need some creative thinking, know-how, what would be appropriate for that business, patience and some tips and tricks.
5. Affiliate Marketing: Affiliate marketing is similar to drop-shipping with key differences. Again, with this business model, you don’t have to maintain inventory or worry about shipping products to customers. How it works:
- You pick a profitable niche like, best gifts for boyfriend, apparels, fashion items, or any other.
- Then you find an affiliate partner in the niche having your required products.
- You then sell products on blogs and e-commerce sites using links which can be traced.
- If a user clicks the links and buys the product, you get your commission.
Which idea appealed to you the most?