With the rise of eCommerce, modern business technology has made it possible to launch a small business with fewer overheads.
For instance, eCommerce business models like dropshipping and third-party fulfillment allow aspiring entrepreneurs to launch business ideas from home with little capital.
Then there’s the rise of fintech lenders. Online lenders have made it possible for small business owners to access funding easily and quickly.
This article gives you a list of some of the most profitable business ideas that you can pursue in 2021 and beyond.
Why start your own business is a great idea
The advantages of starting your own business are endless. Top reasons why aspiring entrepreneurs like you debut into the business world include:
- Become your own boss
- Find fulfillment doing something you love
- Follow your dream and passion
- Solve a pressing need in society
- Side hustle to earn extra money and reach financial freedom faster
- Career transitioning from a 9 to 5 job to a self-employed professional
Top 5 businesses ideas to start
Start a blog
Inforpeneurships has become a thing. In the digital age, you can make money right from home selling information online. That’s why blogging is one chance in the digital era.
Running a blog is a great choice if you have a knack for writing about topics in specific niches, like cybersecurity, entrepreneurship, investing, lifestyle, etc.
Once you pack enough articles on your site to attract multiple site visits, you can monetize your site through affiliate marketing, sponsored content, and advertising.
You may not make any money initially, but once your blog cuts the first few difficult corners, you could make money while sleeping!
Freelancing
Freelancing is disrupting the traditional corporate culture. Instead of building costly departments in-house, companies are increasingly opting to outsource your link building services to slash costs.
That’s why work-from-home opportunities have sprouted everywhere for self-employed experts, making freelancing an option to start with little to no capital. All you need is a laptop and internet.
Plus, freelancing is versatile enough to accommodate anyone. The opportunities span many areas of the digital world.
Copywriting
The rise of eCommerce and digital marketing has created the need for quality marketing content to make customers open their wallets and slide through the checkout.
That’s made copywriting one of the business options to start with fewer overheads. Copywriters are creative individuals who create advertising and marketing materials for online and offline brands.
Top skills required include endless creativity and imagination, talent for language, and excellent grammar and spelling.
Sites like Upwork and Fivver are great platforms to launch your copywriting business. You can start working right away from the comfort of your couch.
Delivery services
The modern consumer is time-strapped by busy work schedules. People have no time to pick stuff or cook at home.
Throw into the mix the digitization of modern life. Customers can connect with businesses via mobile apps, websites, e-stores, and other channels to order anything and deliver it to their doorstep.
That’s where you come in. You can partner with businesses that offer delivery services in your area and build a lucrative business as a self-employed delivery person.
Top delivery services include grocery delivery, food delivery, furniture delivery, fruits & vegetables delivery, name it!
All you need is a delivery app like Instacart, Uber Eats, DoorDash, or Grubhub, and a motorcycle or a delivery van in good condition to get started.
You can also go independent and DIY your food or grocery delivery services.
Launch a cosmetic line
Who doesn’t like to look great at work or in church? Nobody, right? That’s why cosmetics products are always on demand, making beauty and cosmetics brands one of the most profitable businesses of all time.
You don’t need a million-dollar to succeed as a beauty entrepreneur. If you can create and sell unique skincare or makeup products that solve everyday customers’ pain points, you’ll be in for huge profits.
You can also source top-selling beauty products from top brands and market them online and offline to your customers.
Aspects to consider before starting
Market research
It’s essential to establish that there’s demand for your products and services before you get started. Use tools like Salehoo market research lab and Google trends to check which products are trending.
Best-selling products on eBay, Amazon, and AliExpress are also great for building a profitable business.
Study your audience
Once you’ve nailed your products, research your audience demographics to see whether the product will be a good fit.
Have a marketing strategy
What marketing channels will you use to tell your customers that you exist? Will you use posters or flyers? Facebook or Twitter? SEM or social media ads?
Whether yours is an online or offline store, digital marketing channels are your best friend. Social media, email marketing, Search Engine Marketing, and blogging are great ways to reach and convert more leads.
Obtain business permits
Before you get started, you must obtain business permits and licenses to avoid trouble with government authorities.
Plus, lenders use personal and business documents to ensure that yours is a legal enterprise before funding you.
Start a profitable business today
There you have it! These are just a few of the most profitable businesses you can start with a low budget. You may use your savings or access funding from an online lender.
Visit the link in the intro to discover more profitable business ideas and how a small business loan can help you fund your startup.