Over the last few years the internet has created new opportunities for aspiring entrepreneurs in the US. Internet trading has become more popular these days, giving rise to thousands of online billionaires from just a simple idea. According to a recent survey by Statista, the amount of US online sales was in excess of 120 billion US during the first three months of 2018, with the annual revenue estimated to grow to over $ 700 billion by 2022. With the growth of mobile technology and increased convenience of online shopping, the market is ready for a variety of ideas across the sectors of the economy.
Based on this potential, the online market is a good choice for anyone seeking to start their own business and become their own boss. With the internet and a variety of other advanced technology, it is no longer difficult to set up and grow your digital business. However, like starting any other business, you need to identify the right investment opportunities to successfully start and sustain a profitable business in the online arena. This has always been a challenge for most individuals. Below we explore a number of top online business suggestions that can give you an idea of the potential online ventures you could start with low capital. You can also browse through listed businesses at https://dealstream.com for inspiration or to buy already existing entities.
What Makes a Great Online Business Idea?
What do you consider as the best internet business idea? Is it one that makes you millions right from start? In most cases, the greatest business ideas do not sound realistic or make you a millionaire overnight. It takes time to develop and cultivate before it becomes a fully established entity. Here are a few elements of a good business idea for your online investment:
- Customer focused – No matter the type of online investment you choose, your idea should target on addressing the existing and potential customer demands. It should be a proposal that seeks to provide lasting solutions to problems in the market.
- Growth potential –Your idea may not start on a high note but it should have the potential to expand to a profitable venture in the future.
- Sustainability – A good idea should provide a unique solution in the market that your users will use for a reasonable period of time.
- Legal compliance – You should always consider rules and regulations that govern your industry of choice and ensure that your business proposal is fully compliant with the law.
What are the some of the top online business you can start in the US?
If you are looking forward to start your own online entity, the following are some of the top ideas to get you started based on your passion and expertise:
- Online Coaching Services
Providing coaching services is one of the easiest ways to start earning online. There are many people out there who are willing to pay premium prices to learn a skill that you have already mastered. This could be:
- Online fitness classes.
- Talent development classes – Sports, music and dance coaching.
- Online sport coaching.
- Arts and craft training.
- Foreign language course.
- Computer skills training.
The list can go on and on but the most important thing is to specialize on a particular field based on your skills and passion. Furthermore, if you are a quick learner, you can acquire new knowledge and transfer the knowledge to others for money. Alternatively, you can create online academic courses and sell on existing academic platforms.
Branding & Advertising Agency
Businesses and individuals need help to establish and maintain a desirable public reputation to succeed in the modern markets. Branding and advertising may involve:
- Celebrity Image consultancy – Beauty, fashion and PR strategies.
- Brand development and re-branding services.
- Business and product advertising and promotion.
- Website and logo design including developing themes and plugins for WordPress sites.
- Social Media marketing (SMM).
2.Event Management Services
You can help people and companies to plan successful events like weddings, parties and many more. This involves guest invitation, event branding, organizing supplies and such. You can specialize in:
- Entertainment events.
- Product or business launchings.
- Corporate Parties.
3.Selling Physical Products
There are a variety of goods that you can sell online and make good profit. You can either resell products from manufacturers for a profit or self-made commodities such as artworks. Some of the bestselling products include:
- Second hand goods such as books and electronics.
- Fast Moving Goods.
- Fashion products and many others.
- In this case you can sell through your own sales website or use existing e-commerce platforms.
4.Mobile App and software development
Web-based software (SaaS) have become popular these days, enabling entities to access application services without the cost of developing, updating or maintaining business software. If you have a talent in software development, you can setup a site that allows companies to access applications based on their usage.
Additionally, you can make generate income online by creating and selling on-demand mobile apps that enable users to perform a particular task as well as businesses to deliver services more effectively. Top apps can generate income from ads. However, you need the technical skills and tools to develop profitable apps and software.
- Online Real Estate Business
The real estate industry has been on the boom for the last few years, and it is expected to remain profitable in the next several years. You can help people to sell or buy properties and get a commission. You can also focus on finding tenants for vacant premises and get paid. Some of the ideas in the real estate sector include:
- Online realtor services.
- Property review platforms.
- Price comparison sites.
- Online building and construction consultancy.
6.Content Creation Services
If you have a passion in research and writing, you can help companies create quality content for various purposes including:
- Marketing content.
- Digital learning content.
- Business proposals.
- Market research reports among others.
In summary, there are many types and versions of low-budget businesses you can start online. You only need to identify a practical need in the market and design a solution that satisfies this need. However, you should consider your expertise, passion and capabilities required to start and run your business of choice.
Importantly, is good to keep in mind that passion and skills are not enough and nothing is absolutely free. You must focus on solving consumers’ problem and invest in tools that will help you in setting up, marketing and running your online company effectively.