Running your own business online can be an exciting, but challenging, venture. More than 2.14 billion people now shop online, so it has never been more rewarding to start an online business.
Experts have projected that eCommerce revenues will reach $5.4 trillion by the end of 2022, so there is no time to waste if you want to begin a business online.
Today we’re going to be walking you through 30 online business ideas to get you excited about starting a lucrative venture in the online space.
Should You Start An Online Business?
There are plenty of reasons why you should start an online business, but do you actually have the resources to grow a business online right now?
The main three things you need are – investment (although this is not always necessary), skill set, and time.
Time is the most important requirement here, and you also need to be skilled in whatever you’re offering within your business.
Online businesses will typically grow quicker and reach more people when there is an initial investment added, although you can create an online business without this. Without the investment, you will need to dedicate even more time and skills to the business.
If you think that you have enough of these requirements to begin an online business, then what are you waiting for?
Benefits Of Starting An Online Business
Now that we’ve established whether or not you’re in a position to start a business right now, let’s take a look at some of the benefits you can expect from growing a business online.
For starters, you have flexible business hours, and you can work from anywhere. This means that you can work around your current job while you’re just starting out. Hopefully, when your business grows big enough that you don’t need the original job, you’ll have more time for personal interests thanks to this flexibility, too.
Most people think that starting a business is expensive, but it doesn’t have to be. Online businesses tend to have lower startup costs as you don’t need to pay for storefronts or utilities. So, you can keep more of the profits immediately.
The internet is a vast space that reaches all over the world. Unlike a physical store, an online shop can reach much farther, potentially bringing in more customers.
Finally, there is plenty of opportunity to take advantage of passive income streams, like displaying ads and affiliate marketing on your business’s website. These can be a lucrative side hustle while you focus on growing your business.
Online Business Ideas To Get You Inspired
What you’ve all been waiting for – here is our list of ideas for you to peruse and inspire yourself. Not all of these business ideas will be suitable for you, but we hope that they’ll get you thinking about other similar routes you could go down.
Freelancing
Estimated Income: $21+ an hour, depending on location and clientele.
Requirements: Skills and experience in the chosen field.
Begin A Data Entry Service
Estimated Income: $15+ an hour.
Requirements: An average typing speed of between 60 and 90 words per minute, and experience with data processing software.
Launch A Subscription Box
Estimated Income: Between $4,000 and $6,000 a month.
Requirements: Digital marketing, business management, and site maintenance.
Offer Transcription Services
Estimated Income: Between $5 and $21+ an hour.
Requirements: Listening skills, typing, experience with data processing software.
Begin A Dropshipping Business
Estimated Income: Between $200 and $3,000 a month, depending on the store and size of the market.
Requirements: Digital marketing, business management, and site maintenance.
Teach Online Courses
Estimated Income: Between $1,000 and $50,000 a month, depending on the platform, expenses, and the number of students.
Requirements: Teaching and expertise in the matter.
Offer Consulting Services
Estimated Income: Between $60 and $4,000 an hour, depending on experience and industry.
Requirements: Skills and relevant experience.
Tutor Students Online
Estimated Income: $15+ an hour.
Requirements: Expertise in school subjects and teaching.
Create Your Own Blog
Estimated Income: Between $100 and $10,000 a month, depending on monetization and operational expenses.
Requirements: SEO skills, writing, and content marketing.
Launch A Podcast
Estimated Income: Between $500 and $10,000 a month, depending on monetization and downloads.
Requirements: Communications, audio editing, and social media management.
Try Your Hand At Affiliate Marketing
Estimated Income: Between $300 and $10,000 a day, depending on the niche and affiliate programs.
Requirements: Content marketing skills.
Design Website Themes
Estimated Income: Between $5 and $200 per theme license.
Requirements: Front-end development, web design, and CMS knowledge.
Start A Youtube Channel
Estimated Income: $5,000+ a month, the average for 1 million subscribers.
Requirements: Communications, video editing, and social media management.
Thrift And Flip Goods
Estimated Income: Between $50 and $5,000+ a month.
Requirements: Business management and negotiation.
Write Guest Posts
Estimated Income: Between $5 and $2,000 per blog post, depending on quality and length.
Requirements: Writing, content marketing, and SEO.
Flip And Sell Websites
Estimated Income: Between $10,000 and $100,000 a year.
Requirements: Web design, web development, SEO, and digital marketing.
Write Cover Letters And Resumes
Estimated Income: Between $50 and $300 per resume.
Requirements: Writing, branding, expertise in the recruitment process.
Self Publish An EBook
Estimated Income: Between 35 and 75% of the price as royalties, depending on the publishing platform.
Requirements: Creative writing and content marketing skills.
Start Technical Writing
Estimated Income: Between $400 and $2,500 per project.
Estimated Income: $30,000 a year, depending on material costs and time spent making the products.
Requirements: Crafting skills, online marketing.
Sell Stock Photos
Estimated Income: Between $5 and $100 per image.
Requirements: Photography and SEO.
Offer Social Media Marketing Services
Estimated Income: Between $15 and $80 an hour, depending on experience.
Requirements: Content marketing, social media trends
Become An Audiobook Narrator
Estimated Income: Between $25 and $55 per hour.
Requirements: Voice clarity and acting.
Sell Through An Online Store
Estimated Income: Between $1,000 and $100,000 a year, depending on market size, eCommerce store, (see also: How To Build An Online Ecommerce Store)and additional expenses.
Requirements: On-page, off-page, and technical search engine optimization
Sell Prints
Estimated Income: Between 10 and 20% commission per print.
Requirements: Artistic skills, eg. photography, fine arts, graphic design.
Work As A Virtual Assistant
Estimated Income: $19+ an hour.
Requirements: Admin, communications, digital marketing.
Buy And Sell Domain Names
Estimated Income: Between $1,000 and $10,000 per domain.
Requirements: Digital marketing.
Summary
And there we have it – 30 (see also: 10 Fantastic Part-Time Online Business Model Ideas) ideas that have hopefully sparked some inspiration for you to start your own online business. There are plenty of reasons to start your own business today, all you need is an idea!
