(Image from Vecteezy)
In these uncertain times, making money online is your best bet to remain financially stable during this pandemic. Especially that many brick-and-mortar stores are still regulated, it’s ideal to have a source of income online. Don’t have an online business idea yet? Here are some business ideas that you can operate at the comfort of your home.
1. Wholesale to Retail
Many online businesses involve buying products in bulk, and then selling them directly to retail customers online. It’s a very simple business model that you can use to make money. Maybe you found a cheap product during a trip, or you found something you can import? Whatever it is and wherever you source it, as long as your pricing covers the costs, chances of making a lot of money are big!
2. Homemade Goods
Are you good at making something, like food, paintings, fashion items, etc? Whatever it is, when you sell them online, it can be a big business opportunity for you! This is very cost-effective because you have control over every aspect of the product including its quality. You can also control how your business will scale.
The downside of the previous two ideas is storage. What if your business gets big and your house is no longer enough to store them, where do you put your products? Will you rent another place? Good thing you don’t have to worry about storage problems with dropshipping! In a dropshipping business, another company produces, stores, and delivers the products, leaving only marketing and customer service to you. Sounds very cost-efficient, right? The downside of this, however, is that you have less control over most of the business, so it’s very important to have a trustworthy dropshipping supplier.
You can learn more about dropshipping in our FREE course!
4. Online Services
Aside from products, you can also sell your services online. If you’re an expert at something, like web designing and marketing, you can work as a freelancer, or start an agency! Compared to products, it’s easier to sell them, but the product is your own limited time. However, offering services entails a lot of word-of-mouth marketing, and happy clients will most likely remain with you on a long-term basis. So to be efficient, try to attract a handful but quality clients you can manage to serve.
5. Teaching Online
Got a teachable skill? That’s another thing you can make money out of! You can offer classes, live or recorded, with different prices for each. You can also choose the size of the class you want: one-on-one, group of five, a large class . . . however you want it! But if you’re not interested in human interaction, you can upload a full-course instead which students can purchase and watch on their own time. And like any other service business, you enjoy low overhead costs.
6. Monetize your Audience
Did you notice that you already have a strong following, or have you just discovered your potential to be an influencer? Well you can also make money out of being an influencer! Content creators make money by (1)partnering with advertisers, (2)offering their own products/services, and (3)getting their content monetized by a platform like YouTube. So whether you’re a thought-leader, a blogger, or a vlogger, you can definitely get cash out of having an audience.
So, are you ready to make money from home? Well, you need to start somewhere! Whether you’re selling a product, offering a service, or trying to build your own personal brand, you definitely need your own website … and we can create one for you for FREE! Sign up now and let’s start your own online adventure.