27 Best Online Business Ideas That Will Make You Rich
Online businesses : Becoming familiar
Here we will discuss 27 best online business ideas that will make you rich. You just need to choose one or more of them. Act on one. Stick on .And, Keep improving.
Internet has made it easy for everyone to become rich now a days.
People are more likely to adopt the online business models, as these business are:
- Requires no or less Capex ( Captial Expenditures)
- Requires no inventory
- Liberty of working life
- No office environment
- Higher payments as moving along
- Converting passion into profession, and hence the money becomes by-product.
1. YouTube : Easy and Popular
How could someone ignore the YouTube channel when, it is about online business ideas.
YouTube channels are growing faster than ever. You can start one if you have something to tell or present to masses.
People will praise you, and google will pay you.
Actually it is an ecosystem. People contribute and people consume. You can start a YouTube channel on various topic like
- Education ( Tutorials, online classes and Facts Channels )
- Motivational Channel
- Business and Entrepreneurship
- Finances and Wealth
- Comedy and mood buster
- Beauty, health and fitness
- Food, travel, and city walks
- Book Reviews and book summaries
- Documentaries if you can present history or facts in best way. Then you can convert it into travel blogging.
- How to channel
- Music and story telling and a lot ideas are out there.
Go and search on YouTube about best ideas to start a YouTube channel. You will get thousands of them. Choose that suits you better. Work on it and don’t ever give up on it.
So how will you make money from this online business idea
- Google Adsense, It will show ads on your videos and then pay you for that length or conversion.
- You can share your affiliate links of a product or tool you were talking in video.
- Creating Merchandise (apparels and accessories) and selling them
- Offering your own services, products or courses and charge for them.
Do not consider a YouTube channel a pass time. Consider it as an enterprise. Act like a business owner.
If you liked the concept then no need to explore the whole 27 best online business ideas that will make you rich, one is enough and work on it. I wish you best of luck.
2. Blog / Niche Website
Are you shy about speaking and presenting in videos? No worries, blogs are for you.
You can start a blog without any investment.
You just need to stick on one niche ( to build specific audience). Like dog food, passive income, beauty tips, wedding decoration ideas. Almost everything.
Just go to google’s free search tool and find out if there is enough audience and a fair competition.
Blogs take time for becoming mature and start earning a decent amount of money.
you will be needing a lot of patience.
How to start a blog for free and earn online
For free there are some platform that offer you a free blogging website
But, there is limitation. For free you will get a messy domain like yourblogname.wordpress.com.
If you need a professional looking blog, you will have to buy a domain and hosting.
So, How will you earn through blog
- Create content and suggest related product/ service or tool. This is Affiliate Marketing.
- Sell your own courses/ services/ products.
- Display google ads using Adsense.
- Sell your own ad space.
3. E-Commerce : Your own online store
E-commerce is the future of retail commence. The way it is growing, every entrepreneur can grow with it.
They are direct to customer, as a result they do not need any distributors, or channel partners.
You create your online eCommerce store, list products or services, market them. you find customers and start earning. Beware, it is not money it is the value you are giving them up.
As a result, after running successfully it for a few years, you can convert it into an ecosystem business model.
There are a lot more business models. If you are curious about how to create successful business models read our guide to successful business model generation.
So, how will you earn
- By Selling your own products
- Or Selling vendors’ products on commissions
- Offering services and digital products
- Creating courses like udemy and many others
- It is just selling.
The hard part : You will be needing a digital marketing expert. Or, you will have to learn it at your own, by investing time.
4. Etsy Store
Etsy is the pre-made eCommerce platform. Unlike the above one, you do not need to create and manage your own store. It basically allows you to sell, unique gifts, vintage items, that are at least 20 years old or handmade items.
You can sell your products abroad by listing them on etsy. It is easiest way to make money online. I think, it may be best online business idea to start right now.
Stay tuned we will be releasing the complete guide about how to earn a decent money from etsy. Meanwhile you can search about it on YouTube, if you are in a hurry.
Unlike ebay, amazon and other market places you can not sell anything here. Etsy loves artisans, who hand made their products like Indian Handmade Jewelry.
How you will make you money here,
- Marketing ( Etsy market itself)
- Repeat it.
5. Drop shipping : Easy and Working
Drop shipping is getting popular day by day. People are making a tons of money. Some people own multiple drop shipping stores. Websites like shopify, have empowered entrepreneurs to test and run their businesses without getting worried about inventory or capital expenditure.
Understanding the drop shipping business in easiest way.
- You have a web store in which you have listed products.
- A customer orders a product.
- A supplier has all of them and supplies for you, directly to the customer.
- You keep the commission, seller gets business, user gets product/ service.
So what are the ways to create a drop shipping store
- You can use shopify for 30$ a month, and can use its resources for free ( almost)
- Woocommerce and wordpress combo if you want to manage the store at your own.
- This type of drop shipping stores can be created also using squarespace or wix or prestashop.
- GoShopmatic, ecwid, and instamojo stores are also better alternatives for indian perspective.
How can you make money using drop shipping
- Select a product, through product research. I prefer oberlo for it.
- List product and make a genuine looking store.
- Market your products through social media marketing, and influencers.
- Fulfill the orders.
- BONUS TIP : Keep the old customers retained using email or phone. Serve them better. In the long run it will cut down your costs of marketing.
Why it is best of our all 27 best online business ideas that will make you rich
- No inventory no upfront cost to worry about.
- Quick testing and a lot of resources are available.
- You can private label products and build brands.
- It becomes best if you can somehow deliver digital products only, means no returns!
- 24/7/365 means all time up and running.
- Freedom of working
- Becomes almost passive if you get work done by virtual assistants.
- Can be scaled.
Yet, there are some cons of drop shipping, like you get blamed if supplier has not performed well or delivered a defected product.
6. Affiliate Marketing : Nothing to manage
When you promote someones else’s product or service, you get commission. This commission is a compensation for your hard work to close a deal on that product or service.
How it works
- You build a blog/website or social media account like YouTube channel or Facebook brand page.
- Signup for affiliate networks where these products are available, choose one.
- Review it on YouTube channel or blog or make a comparison chart.
- Put your honest reviews and tell audience how it can improve their lives.
- People purchase it and you get paid.
Some affiliate networks list to get started
- Cj affiliates
- Click Bank
- Individual Brands, go to their site’s bottom and find affiliate link. Signup and follow instructions.
7. Amazon FBA
Fullfilment by amazon or FBA stands for service provided by amazon on the behalf of seller. This provides the user with best experience. Like fastest deliveries, customer care, returns and refunds.
See the process in a single view,
- Your products listed on amazon.
- You ship those products to amazon’s fulfillment center in your city or supplier’s city.
- Customer orders your product.
- Amazon takes care of packaging, labeling, shipping, collecting COD payments and customer support.
- You get paid on their payment cycle.
Why it is best online business idea
- No need of hiring a staff for packaging and managing warehouse.
- You do not need any logistics support.
- No worries about payments and customer support.
- Exposure and priority listing as Prime
- Faster delivery
- Easy returns, better ratings, means more business.
8. Providing Services : Skills Paying Off!
It may be web development, digital marketing, or audio video editing. The skill in which you are expert, you can make money out of it. As time passes, you build a significant portfolio and eventually you start charging people at higher rates.
Best skills that are trending and can make you a fortune
- Web/ App development
- Chatbot services
- Online Brand Reputation management
- Social media management
- Virtual Assistance
- Graphic Designer
- Digital marketing
- Content Marketing
- Copy writing
- Video marketing
- Business consultant
- Machine Learning
- Artificial Inteligence
- Big Data Analytics
- UI / UX Design
- Cloud computing
- Video production / white board story telling
- Wikipedia Contributor
- Business data analytics and data processing
9. Freelancing : Liberty with leverage
Take above skills in scene. When you want to work freely and with multiple companies to get paid as much and when needed, freelancing becomes a real picture.
You can ask me, ” but, man, this is another kind of employment”
I get it, I totally get it.
Think big scene, you have a group of freelancers on your list. First you have handful work and then the projects increase. What would you do?
You will too, outsource it. But for best client satisfaction and quality assurance, you keep some freelancers under your umbrella.
After a significant time, it will become almost passive income stream.
I don’t think there is need of explaining how would you make money through it.
Some best freelancing websites are listed below to get started
10. Online courses : Provide value to others
College education, which is mostly theoretical and not creating enough skilled manpower, is becoming obsolete with time. This is a bold statement. But everyone knows. Here open education comes in scenario.
Mostly, people use online educational platforms to learn some skill that pays them off. Some brush up their hobbies to convert it into profession.
Some students learn some specific subjects.
Anyhoo, you need to set up an online business on it.
There are three ways
1. Create your own website
2. Teach on some popular platform and build a global classroom.
3. Use both of the above .
How can you make money through it and convert it into a full fledged business
- Sell your courses ( Passive stream ) on udemy, teachable or skillshare.
- Create membership based tutoring
- Conduct one to one coaching or tutoring.
All of the above will pay you off. Start small, it will increase timely.
11. Buy and Sell Domains : Digital Property
Domains are the new real estate of digital world. Buying and selling domains is one of the best online business ideas, that generate lucrative income.
But before diving in, be careful. Just like every property cannot be sold on a wished price tag; Similarly, Every domain can not be sold on any price.
So what is the matter? Well, you need to research on keywords and then have to find a perfect domain that can be sold. Expired domains have higher chances of getting sold.
Or, A domain that have a business name in it, has a greater chances of getting sold. Like internetgiftideas.com or weddingphotographynearme.com or something like that.
Remember, above suggested domains are just for example, and these should have small length of characters.
You can just list them on the very same website where you have purchased them.
Or you can use a third party websites like flippa.com, to list your domain.
Even better, build a three or four pages website and then sell it.
12. Stocks : Be careful !
Stocks or share market is the fast lane of getting rich online. Apps like webull, robinhood (in USA) and upstox, Zerodha, Groww or 5paisa ( in India) have lowered the entry barrier to enter in the market.
I call share markets blood markets. They can eat your money, or, they can make you rich.
Before entering into market, read books like Intelligent Investor by Benjamin Graham, or Dhandho Investor by Mohnish Parbai.
Value Investing by Parag Parikh is another suggested good read.
Remember two rules of Warren Buffet, before jumping into blood ocean.
- Never loose your money.
- Never forget rule number one.
13. Sell Art : Art is the new luxury
Have you heard that Saudi Prince Suleman has bought a Painting of Leonardo da Vinci (Salvator Mundi), for 450 Million USD? These paintings, vintage cars and other antique pieces are unique and jackpots for those who want to make money using them. Provided, you have knowledge of them.
Moreover, you can sell or buy these kind of things on auctions held locally in your city or online on ebay, or etsy.
You can watch TV serials like storage wars and pawn stars on History TV 18 to learn about these things in detail.
14. Sell Photos
A picture is worth of a thousand words. People like to consume graphical content more and more. Every creator or content producer need these digital assets. A need of someone is the stream of income for someone else.
Whenever you go somewhere, don’t forget to click some catchy images. These images should have details intact with them of high quality.
Now these images can be sold over various platforms. Here are, 10 best websites to sell images/ photos
- Getty Images
- Adobe Stock
- Fotolia ( Closed ) Now they are avilable with Adobe stock
- Can Stock Photos
15. Build Apps/ Websites
Every business needs websites, and mobile apps for their brand. Good thing is, now small business owners do need to keep themselves ahead of market. This is the opportunity to build your own business on it. Further you can add video, social, or content marketing into the service offering.
Building apps and websites is one of the most popular online business ideas, as you can learn coding or front end developing easily even on YouTube. This created a fulfilling industry for every business’ need.
You can create agency or business house to provide your digital services to businesses.
It is pretty simple, you will get paid for every part of content you create. Volumes will make you a fortune.
16. Private labeling : Create Your own brand
Suppose, someone manufactures a product but do not market or sell it. then you sell it, by putting your label onto it. This is private labeling.
From FMCG goods, or cosmetics, you can find a lot of products that are available for white labeling or private labeling.
For example, You found a local merchant who makes best pickles in the area. And yes, it is doing well in the local area. You heard about it. You tested it. Yes it is really that good.
Now you ask him if he can produce more and for you exclusively.
Then you find a company who prints labels.
Then you hire a man who put those labels on those jars. If market lifts you up really well, you can atomize the process of labeling.
Now, you market and sell nationally, or globaly.
In this case your partner who is manufacturing is getting better revenue and business.
As a result, You do not manufacture anything at all at your own but you have a product line.
Those labels are your brand now.
I don’t think there is a need to tell you how would you make money out of it.
17. Print on Demand : Sell Personal labels
Just like drop shipping, print on demand works on same principal. You do not own that much printable products as inventory. You print them when you get an order.
The Question is, how it all works?
Well, You can choose a couple or a single product from vast product line. Like Stationary, Customized Diaries, base ball caps, T-Shits, Hoodies, Posters, Mugs, Phone Cases and a lot more.
For instance, You just set-up an online store, where you list your products.
For example, if you have your store set-up on shopify, then you can link printful or printify service providers, who will print the products for you. And they will deliver it too.
You just pay them the base price of product, charges and taxes if applicable. Rest is on automation.
Keep the commissions, this is how you will be able to make money from this online business idea.
18. Podcast : Make the words your passion
Podcasts are getting popular day by day. They are, I think, replacing the FM Radio. Right? If you speak in an influential way, your audience will love you.
You just pick an area of your expertise.
Next, you write your script. Then, Record it.
Proof – Listen it, and then upload it to a relevant podcast platform.
For your help, There are a lot of podcast hosting platform and streaming apps available. Like buzz-sprout which offers you a podcast account for a nominal fee.
You can upload your podcasts to these platforms, or even on YouTube as radio channel.
As a result, Shutouts and on audio adds will pay you.
19. Virtual Assistant : Set up the organization
A Virtual Assistant performs numerous tasks from office tasks to troubleshooting in a machine or code on a website. They charge per hour for their expertise.
This simply leads to freedom of working with multiple companies, or people. As a result, you can work from anywhere in the world.
You can hire more people for a particular area of working to provide best services in that area.
You can start o individual level and then can move slowly toward a gig based company.
Earning money is clear and depends upon your level of expertise.
20. Virtual Kitchen : Let them eat at their home
This might be a new concept. In this one, you just have a kitchen and some staff members who prepare delicious food. This food menu can be listed on food delivery apps. You just list it, make it and sell it.
So, you may ask. “why this?” I mean I can open a full fledged restaurant.
Okay, consider the capitl expenditure kind of demon.
From furniture, to serving items, including electricity bill of Air Conditioners for sitting or say dining area.
You will need more staff to serve and for dish washing.
In the concept of virtual kitchen nothing is full fledged. And yes, who is asking you to not to open the full fledged restaurant?
Yes. You can definitely open that one. But start from small, so if business gets failed for a reason, resulting, you don’t lose too much. Initial lease of property will not bite you that severely.
Money making model is simple like other restaurants businesses.
21. Curated subscription boxes
From The Man Company to The Moms Co., they are selling curated boxes of specific products. These subscription boxes can be created for any kind of product bunches with relevance.
But remember, they should solve or address a problem of user. You can create festival automatic gift boxes, birthday gift boxes, grooming boxes for men or women, anniversary gifts boxes.
Here it is the method of recurring revenue model. Once a user signs up, he/.she pays from a couple of months to years.
This can be a future best online business idea if you want to start it.
Money can be made for service charges, for boxes, or for the customized boxes.
What can be the worth of a product or service if it can not be sold on time. And, How could it be sold without a proper selling copy of texts from headlines to sales letters that moves a person to buy your product.
Whether it is a sales copy or a headline of your digital marketing ad, if it is not appealing, why would someone give it a shot?
But it is not that hard, you can learn this skill from various platforms.
However, we recommend Skill share. It gives you free two months of learning any skill you want, and then you can opt-in for premium plan.
The Rich invest in skills and in time, The Poor invest in money.
You can make money or business out of it by writing sales letters, or emails, or ads copy for a company or multiple companies.
Further, it can be converted into a creative ad agency or marketing agency.
As a result, Money will start flowing automatically, once your clients start making business.
Earn trust first, money at second.
Google Drive, Zoho, Hostings or any digital service, which can be used online as a software is the SaaS ( Software as a service).
As these services are becoming easier to develop and popular for use, obviously the future is still bright and will be.
you can develop these kind of services at your own for yourself or for your client.
Or, You can outsource it if you have a really great idea of one and unable to code due to any reason.
Than build a company over it, provide best in class value to users and your business will make you a fortune.
SaaS is one of my favorite kind of best online business ideas, as it is passive almost, and can be scaled easily from nothing to a full fledged service hub for providing any kind of service.
Human jobs are being replaced by robots or artificial intelligence. In the same way, chat bots try to resolve a user’s query from the already fed data into them. If the problem still persists, then it gets transferred to the human representative.
The logic behind this, is to increase productivity. Sometimes a user need only a specific answer, which can be fetched from FAQ section. But in the traditional way, customer care executive shares the link of that FAQ file.
Now, these chatbots share the link without wasting time on trivial matters.
For you, in this case, you can create customized chatbots for your clients.
Or, you can build a portfolio and have ready to sell Chatbots.
Like before, websites have had a simple and common format. After that templates solved a much larger confusion.
Now website templates are ready for almost every kind of profession like restaurant, or blog, or an e-store.
In the similar way chatbots can be created and sold.
You can create an annular fee plan or lifetime plans for revenue.
Every business wants to stay top of the first page of Google. This can decrease their recurring digital marketing cost. As this way promotes user created content itself. And it Stands for, Search Engine Optimization.
SEO has became a mandatory service for companies and bloggers. It gives them free traffic and users.
As a result, This gives them business and revenue.
But this one too, is not everyone’s cup of tea.
You can provide SEO services as a freelancer, or as a company to multiple companies.
You can keep working with a company and it can generate a stable income.
Tutoring is becoming popular as it is replacing the traditional tuition. As it imparts interactive methods, and yet one to one class can promote the knowledge of the student for a specific subject.
Distance is now of a few clicks and increased productivity has made online tutoring one of the best online business ideas to start form.
From YouTube to edx, udemy, superprofs and vedantu kind of tutoring businesses are on heat. And yes, You can create your own tutoring business.
Opportunities in this business are, first, open a tutoring business simply. Secondly, go to next level, and create a platform, at which tutors can teach and students can learn, having both options like one to one or classroom.
You can charge commissions, show ads and sell books at this platform. Or even better, provide test environment, like mock tests as a paid service.
Second you can create a membership site where members can join by paying a specific amount like skill share.
Money model is apparently clear.
Let’s move to the next and last idea of our list.
27. Graphic Designing
Graphics are more interactive and engaging. That’s why graphics more likely to convert the ads or sales into conversion. These say a lot of information at a glance. They will stay in need always.
Graphic design skill has always been in demand.
About talking this particular idea, You can see multiple graphic selling websites are out there like freepik, envato market which are selling graphics so that the creator can use them to engage his/her users.
Here at this point, You can create graphics, info-graphics, as freelancer, or for a company or a blogger. You can charge them on per hour basis, or per project basis.
Or, you can create an agency which provides graphic resources to individuals or businesses. Also, you can sell your graphic assets on above mentioned platforms.
Final thoughts : Over to you now
Now it is you at last, who is in control of fortune or fate. You decide what business is likely to suit you.
Remember every business is profitable, when you make it profitable by working that hard.
We have discussed the complete arsenal of best online business ideas so that you can get started with a blue print right today.
I have tried my best to provide you with every minute detail, still there is chance that i have missed something or dropped some confusing information. Your suggestions will improve me too and I will appreciate them warmly.
Wish you a best luck and love you all.