Choosing to quit a 9 to 5 job and becoming your boss in itself is an excellent profitable idea. But, while you have plenty of enthusiasm, this course requires plenty of hard work, sacrifices, and compromises as well.
A great idea is a crucial step in creating a game-changing business, and if you plan and execute it well, these ideas can build your company at the lowest costs and highest possible returns. After evaluating which business idea works for you, you need to put together a solid business plan for your business to be a success.
But, first and foremost, what is a profitable business idea?
A profitable business idea consists of:
- Low risk.
- High returns.
- Quick to grow and survive in the market.
To help, I’ve put together a few valuable business ideas for you to decide what’s best for you.
1) Freelance Blogger –
Every other company needs help with blogging to creating content for their website, if you have the skills and expertise in their niche you can write in-depth, high-quality articles around a topic to help companies rank well on google and help build an audience.
This way you can offer freelance services by outsourcing your skills on your terms.
2) Tutor and Online courses –
If you have the skills and knowledge needed to teach online, tutoring is one of the best business options to adopt this year. Especially during the pandemic, all the schools and colleges have opted for online teaching which makes this an ideal low-risk, high-reward business option. You can deliver lectures over skype or zoom.
If you have a unique skill that you can script lessons on and turn them into videos, an online course is an excellent way to do it. This will help to reach a larger audience, and generate active and passive income.
3) Drop shipping –
If you’re looking to sell products online but don’t want to worry about storage, drop shipping is the perfect business option for you. All you have to do is set up an e-commerce store and partner with a supplier who will store and ship products to your customers. The supplier or third party involved is a wholesaler or one who runs shipping operations. As minimum inventory and tools are needed to start drop shipping, it’s a valuable business option.
4) Social Media Manager and Influencer –
All kinds of businesses are trying to connect over the internet through social media sites. If you have the marketing knowledge and can help to advertise the business on platforms like Instagram, Facebook, and Twitter, social media management is worth looking into. Remember, you have to keep a track of ever-evolving trends and keep up with changes made on these platforms to perform well.
Social media influencer falls under influencer marketing. In this, you have to promote products and services through engaging posts on social media platforms. If you have the right personality and can build up a good social media profile and rapport with your audience, making money influencing people online is a real thing.
5) Home-based catering –
Not everybody has the time to cook nutritious and tasty meals all day, amidst the busy schedule people crave healthy meals and are looking out for good food delivery options. Therefore, an opportunity for the ones who love to cook and want to start their business. You can start with single-serve meals which can be easily cooked at home and later expand as per demand.
6) Fitness Training –
Amidst the lockdown, a lot of people have made a shift to a healthy life. As people can’t use gyms and other fitness centres, you can render your services online as well as offline. You can plan out a week full of different activities such as yoga, zumba, cardio, or high-intensity sessions as per the client’s interest. For those who are into fitness and nutrition and can provide these services can opt for this business idea.
7) Digital Marketing –
Another excellent way to make money is by making a shift towards digitalization. You can opt for digital marketing courses online and work on the skills required to make this shift. Digital Marketing consists of ways to market your business online such as building backlinks, SEO, E-mail marketing. Digital marketing has recently boomed and therefore is one of the best options to opt.
8) Virtual Assistant –
You can put your organizational skills to work by assisting large companies to keep up with their day to day work such as scheduling meetings, working on spreadsheets, and other basic administrative work.
This won’t only give you a chance to deploy your skills, but also help you understand the working of large companies.
9) Printing on request –
Nowadays, people love customized products. There is a great demand for customized t-shirts, pillows, phone- cases, bags, hoodies, caps, and whatnot. If you have the design skills and can create designs as per individual or group needs, this is an option worth investing in.
10) Home-made products –
If you’re passionate about making products like candles, jewellery, shawls, or clothing, you can use your hobbies to make money. Remember, to keep your product theme unique. For example, vegan sandals or handcrafted shawls. This will help you stand out. Here you have the power to control the cost and quality as per customer needs and can evolve in the future based on demand in the market. You can use sites like Etsy to sell your products online.
There are so many different business ideas to grow, I have only come up with a few aiming to provide you with the most profitable and the best ideas that need minimal investment. Hope this motivates you to understand and choose what works the best for you.