18+ Best Online Business Ideas 2023

18+ Best Online Business Ideas 2023

Building a successful online business takes a lot of hard work and time. So, choosing an idea that matches your skills and interests will increase your chances of success and make the journey worthwhile.

The following are the 18+ profitable online businesses to consider pursuing.

1. Start a Blog

Revenue projection: $100-$10,000+/month, depending on blog operational costs and monetization channels.
Requirements: Skills in writing, content marketing, and search engine optimization (SEO) are necessary.

One of the most successful ideas for an online business is starting a blog. Many six-figure business owners, including Pat Flynn, started out by writing blogs for a small audience to share their expertise and knowledge.

A successful blogging business is about more than sharing ideas on a topic. Remember to focus on the following elements before starting a blog:

Niche. A website that focuses on one theme rather than covering a variety of topics is more effective.

Content quality. Creating original, high-quality content can increase your blog's visibility on search engine results pages and convert visitors into devoted readers.

Traffic size. High-traffic bloggers typically have a better chance of luring prospective business partners and selling their goods or services.

Monetization options. Google Ads, sponsored content, and affiliate marketing are popular ways to monetize a blog. To increase earnings, think about combining them.

2. Become a Freelancer

Revenue projection: About $33/hour, depending on industry and location.
Requirements: Expertise and experience in a particular field.

The growth of the gig economy has made freelancing an attractive alternative to traditional 9–5 employment. In fact, 75% of freelancers reported an increase in income compared to their previous full-time job.

Those who have worked in the past can capitalize on their knowledge and the network they've developed to build a professional brand.

You can do freelance work in almost any industry. web developers, However, graphic designers and writers are some of the most sought-after jobs online.

Choose a niche and a differentiating feature to help you stand out in the crowded market before you launch this free online business idea. For instance, freelancer Elise Dopson specializes in producing journalistic content for B2B and SaaS businesses.

To advertise their services online, freelancers typically build a website for their portfolio. You can enhance your online presence by creating a LinkedIn profile and signing up on freelance marketplaces like Fiverr.

3. Self-Publish an eBook

Revenue projection: 35-75% royalties from the eBook's purchase price, depending on the platform.
Requirements: writing talent and knowledge of content marketing.

You can become an author without submitting a manuscript to a publisher thanks to the internet. Through a personal website or self-publishing platforms like Amazon KDP and Apple Books, anyone can sell eBooks.

You can avoid the hassle of starting from scratch by using self-publishing websites, which provide the benefit of an existing audience. You cannot, however, claim the eBook's gross revenue. As a result, many authors build websites to increase their income.

4. Start a Dropshipping Business

Estimated income: depending on the size of the market and the online store, $200-$3,000+ per month.

Requirements: skills in website maintenance, digital marketing, and business management

Dropshipping is one of the easiest businesses for beginners to launch because it is low-risk but lucrative.

This business strategy entails collaborating with suppliers to sell their goods on your website. The seller concentrates on selling the products to potential customers; the vendor takes care of storage and shipping.

Since inventory management is not required, the startup costs are relatively low. Setting up a website for a dropshipping business typically costs $150. This sum includes a domain name, web hosting service, and membership in a supplier directory like Spocket.

Since consumers cannot inspect the products, this small business model depends on their trust. Before working together, evaluate potential suppliers to avoid problems, and deliver top-notch customer service to guarantee their satisfaction.

5. Start an Online Store

Estimated income: $1,000 to $100,000 or more annually, depending on the eCommerce business, its costs, and the size of the market.
Requirements: skills in website maintenance, digital marketing, and business management.

One of the best small business ideas to pursue is opening an eCommerce store to sell clothing or other items. By investigating hot products or focusing on a small market, you can find ideas for your online store. Although segmenting your niche can help reduce competition and offer significant growth potential, it may initially draw low traffic volumes.
A successful micro niche company is Neuro, which produces caffeinated gum and mints.

 The product was developed by the creators as a more wholesome substitute for coffee and energy drinks.

Be sure to carefully calculate the startup costs before opening your online store. The cost of developing a website is influenced by a variety of elements, including its platform and features.

A basic small business website could cost between $100 and $500. However, the price could reach $10,000 or even more if the eCommerce site is large and complicated.

Along with listing products on your eCommerce website, you might also want to think about selling on social media sites like Facebook or Instagram. Your audience reach can be increased, and revenue can be raised, by varying your sales channels.

6. Flip and Sell Thrifted Goods

Estimated income: $50-$5,000+/month.
Requirements: skills in business management and negotiation.

If you are looking for a low-cost online business idea, selling used items online for profit is a good option. Look for unused, good-quality items around your home or buy pre-owned items from second-hand shops.

Then, find out how much their competitors are selling their products for to determine their prices. In some instances, the item needs to be repaired or recycled in order to increase its value. Although it's not necessary, having some basic handyman or crafting skills is helpful in this field.

7. Sell Prints

Estimated income: 10-20% commission/print.
Requirements: Like photography, artistry, fine arts, and graphic design.

One of the best business ventures for visual artists is the sale of prints. You can earn money and gain supporter promotion by displaying your pieces in people's homes.

Making an online store and registering with an on-demand printing company like Printful is one of the simplest ways to sell prints.

You can produce more artwork using this technique while concentrating on business marketing. The printing service handles the shipping and purchasing in the interim.

A Beautiful Mess is one of many prosperous companies that sell full-size digital files of their prints. Customers can print and frame their artwork this way without paying for shipping.

However, watch out for those who duplicate said files. With every work of art, always include a copyright notice and take legal action if there is an infringement.

8. Sell Handmade Goods

Estimated income: $30,000+/year, based on the resources used and the amount of time taken to produce the product
Requirements: Crafting or artisanal abilities.

The business world has been drawn to the craftsmanship of artisans thanks to the internet.

You can sell unique products that customers cannot find anywhere else, unlike retailers who work with suppliers. As a result, it's possible to charge more for your creations.

One of the many artists who successfully make a living by selling their creations is Bridget Bodenham. She designs vase sets and sells them on an e-commerce website, giving her total control over the brand's marketing and business plans.

Selling online on Etsy is an alternative. With over 96 million buyers worldwide, Etsy enables you to find and follow your ideal clients. Be prepared to compete with other sellers for customers.

 

9. Launch a Subscription Box

Estimated income: $6,000-$400,000+/month.
Requirements: skills in website maintenance, digital marketing, and business management.

A business model known as a subscription box service sends customers a product package on a regular basis. The Dollar Shave Club is one well-known illustration.

In recent years, this industry has grown more popular. For a convenient, tailored experience, more than 50% of online shoppers sign up for at least one subscription service.

The two main advantages of running a subscription box business are recurring revenue and developing enduring relationships with customers. That being said, in order to be successful in this online business, you must sell a product that consumers are eager to buy again and again.

Butcher Box is a good illustration. Various cuts of meat are delivered by this subscription service. The brand distinguishes itself from the competition thanks to its organic meat.

10. Become an Affiliate Marketer

Estimated income: around $50,000/year, depending on the niche and affiliate program.
Requirements: skills in content marketing.

One of the most affordable online business concepts is affiliate marketing. A marketer who uses affiliate links in their content promotes a brand's goods or services. Depending on the volume of purchases made using the affiliate link, they will be paid a commission.

Join affiliate programs like Amazon Associates, Skimlinks, or Hostinger Affiliates to launch this online business.

Create content later that is pertinent to the links you are making, such as blog posts. The secret is to produce unique content that appeals to the interests of the readers.

Baby Gear Lab, a website devoted to childcare necessities, is a fantastic example of an affiliate website. It publishes thorough product reviews and recommendations for infants.
The Baby Gear Lab blog also includes affiliate disclosures that inform readers that the website's owner may receive compensation if they click on links and make purchases.

11. Start a Consulting Business

Estimated income: around $18-$30/hour, depending on the sector and set of skills
Requirements: abilities and expertise in a specific field

The best business venture for those with advanced knowledge in a particular field is consulting. It aids businesses from a variety of sectors in finding solutions to issues with marketing, operations, and human resources.

Neil Patel is one example of a successful consultant. The SEO specialist provides social media, paid advertising, and content marketing consulting services. They've worked with more than 5,000 businesses.

Regrettably, startup small business owners who offer consulting services might have trouble finding customers. For the first six months, concentrate on expanding your client pool by generating leads via LinkedIn and cold email pitches.

Additionally, be sure to have a separate email account for business. Your chances of success will rise if you send letters from a credible email address.

12. Flip and Sell Websites

Estimated income: $10,000-$100,000+/year.
Requirements: Web design, development, SEO, and digital marketing expertise.

Comparatively speaking to the other online business ideas on the list, website flipping takes longer to turn a profit. However, this kind of business is very lucrative for many business owners, including Yaro Starak.

This online retail venture begins with the acquisition of underperforming websites with expansion potential. They might be offered for sale or auction at reasonable prices on marketplaces like Flippa.

After the transaction closes, work will be done to raise the website's value. You must make sure the website is optimized for search engines and functions properly. Then, do market research to determine the best monetization strategies for the site's market.

Before being put up for sale, the website should experience significant traffic and earnings. If it's profitable, buyers will be more likely to make a purchase.

Flippers of websites typically set the price of a site at two to three times their annual income. An online store that generates $1,200 per year, for instance, might be purchased for $2,400–3,600.

13. Design Website Themes

Estimated income: $5-$200+/theme license.
Requirements: knowledge of CMS, front-end development, and web design.

A great online business venture for web designers looking to supplement their income is selling website themes. Pre-made designs that are attractive and simple to use are becoming more and more popular as more people start their own websites.

Utilize free web hosting to test your theme. Then you can either list it on a theme marketplace like TemplateMonster or sell the license on your own website. Despite the latter's assurance of greater exposure, most marketplaces levy a commission on each transaction.

To increase the theme's worth and durability, think about incorporating frequent updates and priority support. Or you could offer a custom theme service. Many businesses may charge more for a unique web design.

14. Buy and Sell Domain Names

Estimated income: $1,000-$10,000+/domain
Requirements: digital marketing skills

When done properly, buying and selling domain names can be a lucrative business. In actuality, domain names in high demand can fetch millions of dollars when sold. Therefore, the most sought-after domains are frequently unavailable.

The domain jobsinlondon.com is a popular choice among domain investors. These domains are less expensive and also face less competition.

Start by browsing domain checkers or auction websites like Sedo for potential and reasonably priced domains. To improve your chances of making sales, think about buying several names at once.

Next, make a landing page for the domain names you want to sell or contact potential clients via email. Keep in mind that finding the right buyer requires persistent marketing.

15. Develop Apps

Estimated income: $61-$80/hour.
Requirements: skills in product management, UI/UX design, and app development.

This venture is the best one to launch online if you have an interest in and expertise in app development.

For accessing online stores, mobile apps are preferred by 78% of digital consumers over websites. As a result, a lot of eCommerce companies use a multi-channel strategy, and demand for mobile developers has skyrocketed.

Consider enrolling in pertinent online courses on eLearning platforms like Treehouse if you lack experience in app development. As an alternative, start your online business endeavor as an app developer right away by using code-free web development software like AppyPie.

Ads and in-app purchases are how app developers make money. Sell apps instead on online stores like Flippa. We advise creating a strong portfolio to attract clients more quickly.

16. Work as a Virtual Recruiter

Estimated income: Depending on the sector and job level, the average annual is $70,000.
Requirements: skills in networking and communication as well as knowledge of the hiring process.

A virtual recruiter assists employers in finding qualified candidates to fill open positions. A virtual recruiter, however, can work remotely or as a side job, unlike a traditional one. As a result, this position is ideal for those who value flexibility.

For this position, formal education is typically not necessary. Nevertheless, a bachelor's degree in business or human resources is preferred by some clients for virtual recruiters.

On a freelance job site like Upwork, you can find the best virtual recruiting positions, or you can join HR outsourcing businesses. Post the positions on LinkedIn as soon as you join. Remember to add the Hiring badge to your profile in order to draw in potential candidates.

17. Offer Social Media Marketing Services

Estimated income: $15-$80/hour, depending on the level of expertise.
Requirements: expertise in content marketing and knowledge of social media trends.

For those who are proficient in social media strategies like content creation, social listening, and influencer marketing, this is a fantastic online business idea.

An individual's personal account can serve as a portfolio for a social media marketer. Use the account to implement social marketing strategies to raise brand awareness, draw in customers, and boost audience involvement.

In addition to using your own social media profile to promote yourself, start a blog or portfolio website to advertise your services. Nadine of The Social Shells does this to increase the credibility and online presence of her business.

18. Become a Virtual Assistant

Estimated income: around $23/hour.
Requirements: skills in management, communication, and digital marketing.

The main duty of a virtual assistant is to assist business owners or entrepreneurs with administrative tasks like making appointments and responding to messages.

Virtual assistants occasionally provide assistance with marketing, including managing social media accounts and formatting email newsletters. With these extra abilities, an assistant could make up to $60 per hour.

If you live in the US, you can start your own online business as a virtual assistant by looking for jobs on websites like Fiverr and Zirtual. Make a website as well to advertise your services. Visit the website of Virtual Nina Creative for ideas.

19. Offer Transcription Services

Estimated income: around $16/hour.
Requirements: excellent listening abilities, rapid typing, and data processing software expertise.

Transcribing audio files into text documents is a simple business concept.

Along with accuracy and speed, your niche can have an impact on your income. The highest-paid transcriptionists typically make $26 per hour in the medical field. Learn about the market if you want to set a higher hourly rate.

Take typing lessons to improve your accuracy and speed. When you have more practice typing, search for transcription jobs on Rev and TranscribeMe.

20. Launch a Data Entry Service

Estimated income: around $17/hour.
Requirements: a 60–90 word per minute typing speed, as well as familiarity with data processing software.

One of the best online businesses for anyone looking for a flexible side gig is data entry. Professionals are required by many businesses to organize information from various sources into digital documents. Notes from meetings and daily sales reports are a couple of examples of this data.

You'll have more negotiating power if you can type more quickly and accurately. As a result, before beginning a business in this industry, we advise taking typing practice courses like Keybr.

To increase your typing speed, think about purchasing a numeric keypad. A strong internet connection will also increase your productivity.

Notes: Things you need to know before you start work from home

Conclusion

The 18+ small online business ideas to pursue in 2023 are listed above. When building your own business, take into account your skill set, experience, and expected income since each is lucrative in its own way.

Those with writing experience, for instance, might want to consider blogging, freelancing or publishing an eBook. If you have artistic talent, create and market handmade goods in the interim.

Successful digital entrepreneurship requires commitment and perseverance. The journey will be less difficult and more rewarding if you select an online business idea that is in line with your interests and passion.