The rise of the internet has made it easier to create businesses and profitable streams of income. Because of this, there is no shortage of good business ideas online right now. And the best part is, you don’t need to have a bachelor, master’s, or even extensive experience to start— you can make money even as a beginner.
With just a few clicks, you can reach anyone in the world through the power of the internet. If you know how to do things the right way, you would be making good profits in no time. And it comes with a lot of benefits that aren’t possible with the traditional business setup!
Running a business online includes increased flexibility, less paper waste, and cost savings.
Since we are in the digital economy age, you must learn and find ways how you can digitize at least some of your income. If you only rely on your physical 9-5 job, there’s a big chance that you will be left behind by many people financially.
It’s important that you know how to leverage the potency of the most powerful technology in the world to get more income. There are three best online businesses to start as a beginner this 2022, if you are interested to know, then keep your eyes on the screen and keep reading!
Dropshipping
If you have been searching for an online business opportunity online, chances are, you have already come across dropshipping. Dropshipping is an online business model that can yield high returns for aspiring e-commerce entrepreneurs.
Dropshipping business can be initiated even with just a small amount of startup capital and some sweat equity. Once you begin to see success, you will be able to begin calling by allocating more resources to brand building and advertising.
But what exactly is dropshipping?
Dropshipping is a type of retail fulfillment method for online stores where merchants purchases products from third-party suppliers instead of having their own warehouse and inventory. When a customer makes an order, the product will be shipped directly to the customer without having the seller handle the product packaging and shipping directly.
This business model does not require big operational capital as the traditional retail model. There would be no need for you to hire employees, keep lights on, pay overhead, stock products, and open a brick-and-mortar store. Rather, you would only need to launch an online storefront and buy wholesale from suppliers who already have products and warehouse space.
You don’t necessarily need prior experience with the business to get started with dropshipping. If you would spare some time to learn the basics, you will be able to launch a business quickly. You can learn the rest as you go.
However, the profit margin in the dropshipping business is very small. Since you will be selling another people’s product here, there’s a price ceiling on just how much you can charge people for that product. Typically, these dropshippers come from India, Pakistan, China, or countries where the price of goods is very low.
Dropshipping business could make you just about 10-15% profit, which is quite low. This percentage is very low compared to other online businesses out there. The only way you could make a lot of money is by raising your volume sales.
Every seller has the freedom to choose among the three types of fulfillment.
- In-house fulfillment. This fulfillment method is pretty good when you sell a relatively lower volume of items and already have a steadfast logistics network. Hence, it is the seller’s responsibility to take care of all aspects, like packaging, shipping, exchanges, and even customer service.
- Third-party fulfillment. In this type of fulfillment method, you can only rely on third parties to handle the packing and shipping aspects of your order. Of course, you would have to pay these providers a fixed amount every month or per order.
It’s important to keep in mind that you would need to spend a lot of money on advertising and other online tools that are necessary for dropshipping.
Amazon FBA
Amazon has helped thousands of small businesses — big or small — to find their space in the market. The company even offers a few services that make things more effortless for Amazon sellers. FBA, or Fulfillment by Amazon, stands on the top list of such services.
FBA is an e-commerce fulfillment system whereas Amazon takes care of product packaging, shipping, returns, and customer services. Thus, the seller does not need to worry about the logistics while cutting down the expenses of shipping.
In this type of fulfillment method, everything is managed by the company. All you need to do is to send your product to the Amazon Fulfillment center and wait for someone to place an order. Every time an order is placed, Amazon makes sure that the product is delivered on time.
Amazon’s network will ensure that the product reaches the right customer.
Digital Agency
A lot of physical businesses out there are trying to turn digital and there are some that are trying to establish a startup. The problem is that they have no idea where to start— they don’t know how to build traffic, find leads, and how to establish a profitable business online.
What you’re going to do is to build other people’s businesses online and charge them a retainer fee of about $500-$2000 a month. You can get as many clients as you can take, and you can earn big bucks depending on the type of work you deliver.
There’s a disadvantage to this, though. First, you must learn how to market, which is a very difficult thing to do. If you can’t deliver such a service, you cannot start a digital agency. You need to be an expert in that area first.
