Want to start an online business? Here are six profitable online business ideas you can start today.
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If there were a magic pill that could allow you to:
- Wake up whenever you want
- Travel the world
- And quit your 9 to 5 day job
Would you take it? Of course you would!
Well, that magic pill is actually available. But you won’t find it at your local pharmacy.
That magic pill is created instead. And it’s called an online business.
The best part is, there isn’t just one online business you can create. There’s several others, and you can start any of them today.
And in this blog article, we’re going to reveal to you six profitable online business ideas that are super easy and simple to start.
Online Business Idea #1: Start a YouTube Channel
Starting a YouTube channel as a business isn’t something foreign here at Wholesale Ted. (That’s how you found us, right?)
And it’s for the right reasons: YouTube is an incredible platform to build an online business.
However, unlike most YouTubers, we don’t earn our money from YouTube adsense. In fact, we have it turned off. Why? Because it earns very little money.
It earns just $1-2 per 1,000 views for most channels. And even with sponsorships, the money earned would is still very minimal, and at the expense of our control over the products we recommend and promote.
Instead, we recommend that you earn your money through promoting products or services that you use or believe in that have an affiliate program, or sell your own products yourself through your channel.
For example, Shopify is a great product that we love to use, and so we promote it. But we don’t just create a quick video telling people how great it is, and how they should use our affiliate link to buy it for themselves. That’s a selfish, shady way of promoting a product.
The better way is to show how to use that product or service. And every year we do this by creating an in-depth, step by step video tutorial showing people how to use Shopify to build an Aliexpress dropshipping store.
We include every step of the way, like adding products to your store, semi-automating the fulfillment process, and adding product descriptions. In a nutshell, we provide value. REAL value.
And that’s the secret to having success on YouTube. To provide tremendous value to whatever your audience you have. When you do that, it’ll be hard not to make money. A good problem we’re able to enjoy.
Online Business #2: Become an Affiliate Marketer
Affiliate marketing is making money promoting other people’s products.
And that’s it. A super, simple concept.
Many blogs and websites use affiliate marketing as a way of making money through ads, articles and promotions. And the way it works is:
Step 1: You find a $200 product offering a commission — say, 50% per sale — to affiliates who promote it.
Step 2: You join their affiliate program, then head on over to YouTube (or another platform) and create an honest review about the product.
During this step, you’ll also add an ‘affiliate link’ to your description.
This is a unique URL the vendor created for you while signing up – and tracks whether a customer has been referred from you. (Basically, it’s how you get paid)
Step 3: When someone sees, and most importantly, gains real value from your video – they reward you as a ‘thank you’ for the value provided, by purchasing the product you promoted through your affiliate link.
Unlike other models, affiliate marketing lets you build a business even without a product or service to offer making it super beginner friendly.
YouTube is one method you can use to generate traffic, but there are several others as well, such as Facebook, Google Adwords, free Google search traffic, Pinterest and Instagram.
You can either link directly to the product with your affiliate link, or you can direct people to download a freebie like an ebook in-exchange for giving you their email address. You can then email them advertisements for affiliate offers. This is a tried and tested method that still works to this very day. And one you can start today.
Online Business Idea #3: Retail Arbitrage
This method involves finding items offline and reselling them for higher prices on sites like eBay or Amazon. And there are two main ways to do this:
1) Find items in thrift stores, Craiglist, or buy-and-sell Facebook groups, and then resell them on eBay or Amazon.
2) Find brand new items priced lower in retail stores than on Amazon.com. Purchase the stock and then ship it into an Amazon FBA warehouse. This method is called Retail Arbitrage.
While it is a great method to make money, the downside is that it doesn’t scale as well as some other methods. But it can still be a 6-figure business and is newbie friendly.
Online Business Idea #4: Sell Your Own Digital Products with Affiliates
What is even better than being an affiliate? Having affiliates sell for you! And the way it works is simple:
1) Create your own product .
2) Put it up on a site like ClickBank which has a huge pool of affiliates looking for products to promote.
3) Let affiliates drive traffic and sales to your product for you!
With the email list you build through your customers, you can then use that to promote other affiliate offers as well. It means you get to be both a merchant AND an affiliate! Kind of like having your cake and eating it.
Online Business Idea #5: Start a Dropshipping Store
First, you open an online store around a niche – like say, cats. Unlike a physical store, you don’t need huge capital to build an online store. In fact, you’ll only need $29 need about $50 to get setup (and here’s how).
Next, you find products to sell in your store. That’s where Aliexpress comes in – a platform that allows Chinese manufacturers to list their products for sale.
In this example, we’d look for cat toys we can sell in our store.
Because you’re buying items directly from a manufacturer, you can buy them for super cheap, even as little as $1.
So, once we find these low-cost items, the next step is to list them in our store, and sell them at a higher price (for example, $9.95).
Once our products are listed, the next step is driving traffic to our store. One of the best methods is to drive traffic is to use paid advertising using a platform like Facebook. The goal here is to spend a little amount ($5 a day) on advertising, promoting a number of products in your store, and targeting a super narrow audience. For this example, our audience would be devoted cat lovers, and so we’d target these kind of people on Facebook.
Once you drive the right traffic to your store, here is where the magic happens. Here is when a visitor who randomly stumbled upon your ad, takes out their credit card, purchases one of your products, and becomes a happy customer.
You might be thinking: “Okay, that’s cool. But wait: How do you ship the item to the customer?”
Well, you don’t have to do what most stores do: package the item and ship it to the customer.
Instead, you use the money you received from your customer to buy the item from your supplier – who ships it to your customer.
Then, you just rinse and repeat.
It’s a really neat business model. And there are literally thousands of people every day making money in this way. Even some of our friends! (Click here to check out our success stories)
Online Business Idea #6: Private Labelling Your Own Physical Products
With this method, you simply import items from China, and then either sell them Amazon or your own website for huge profits.
By selling them on Amazon, you can take advantage of their FBA (Fulfilled By Amazon) program. With this program, Amazon manages your fulfilment process for you by picking, packing and shipping your item over to the customer. And this is done without you having to even lift a finger! This is what makes this model very passive and hands off.
The reason why it’s called Private Labelling is because you place your own logo and branding on the item. This increases the value of the item so you can charge a higher price for it.
While it requires you to spend money upfront to buy items in-advance, it has the huge advantage that you don’t need to worry about managing customers orders. Plus, it’s pretty neat to be selling your own physical products with your own brand.
Here’s an additional bonus tip: you can increase your margins by backending them to a relevant, digital offer. For example, if you are selling dog leashes, you might want to upsell people to a dog training guide that they can purchase instant online access to.
Or, you may wish to affiliate to somebody else’s digital product offer, if you don’t have one yourself to upsell to.
These five online business ideas are all great methods of making money online (if you want more ideas, here’s another five in this article). The challenge now is to pick which one to build!
The best strategy is to pick one business instead of trying all of them out at once. This isn’t a good idea because you tend to lose focus, get distracted, and will eventually burnout. The better (and wiser) option is to focus on building one business and give it your best shot.
The biggest takeaway in this article to be aware of how much great ideas there are to start making money. And once you realise how big of a positive impact starting one has on your entire life, it’ll be hard to not to give it a try.