Online businesses have a proven record of success and great long-term revenue prospects due to the ever-developing and popular online world. They are also a great starting point for a prospective business owner as there is the potential to run a successful start-up from the comfort of your home.
We have previously discussed the many benefits of shifting to an online business environment, but to get you further inspired, in this article, we cover five online business ideas that you can get started with today.
1. Freelance Writer, Designer or Developer
Becoming a freelancer that offers a sought-after online skill is a great path to go down as an entrepreneur.
Many businesses will pay good money and are eager to expand their website whether that is through new content, updated designers or a whole new website build, so it may be worth spending some time looking into what services you could offer based on your skillset.
Read more: Finding Work As A Freelancer
2. The eCommerce Market
Do you enjoy designing clothes or jewellery or perhaps baking delicious treats? Your unique creations could be sold online, and you could look to become an online retailer.
The business-to-consumer e-commerce turnover in the UK totalled £197.1 billion in 2019, and this has only continually expanded, so it’s not a market to ignore. Interestingly, you don’t even need a physical (or digital) product to become an online merchant. Dropshipping allows you to sell products, at desirable profit margins, without stocking them.
3. Curate Subscription Boxes
Subscription boxes are themed packages of various products. There are subscription boxes in most industries, from baking kits, planting boxes and monthly beauty goodies. This versatility means that you can curate subscription boxes around virtually any theme of your choice. You can also choose to either create your own products or use proven successful products and put them together in a nice package.
Subscribers may want to have surprise boxes, such as with Glossy boxes, or they may want specific contents, perhaps with a protein meal prepping kit. Whatever you look to create, this could be a great starting point for a very successful business.
4. Become a Business Coach
Business coaches offer an outside perspective, enabling them to support businesses and team members to grow. The most effective coaches undergo lots of training to get certified in their chosen area of expertise. So why not monetise your passion for helping others to succeed and consider an online business coaching business?
5. Create An Educational Business
It may be that you have qualifications, previous job experience or even just a passion for a subject that you are knowledgeable about – so how can you convert this starting point into a business idea? You could consider creating and selling training courses.
For example, you could look to produce an online course to take participants through training or education on a topic, and this could be centred around whatever you feel qualified in teaching. Examples could include ‘all aspects of content marketing creation’ or ‘the skills needed for project management’.
A key advantage of this business model is that once you’ve produced your educational content, you can sit back and relax – unless you want to keep creating courses and marketing your business of course! But realistically your courses could generate passive income as they sit on your chosen platform.
What Do You Need To Start A Business?
Once you have your idea, you will need a viable business model and to set out your business goals, the reasons these goals are attainable and a plan to reach these goals.
Every new business needs a plan, and at cbm our business planning and consultancy services can help you get investor ready. To get started on your new business venture, call one of our friendly and professional experts today on 01604 420 420 or contact us using the form on the right.