Online businesses, also known as e-commerce or digital businesses, are booming and the list of successful e-commerce entrepreneurs is growing longer by the day. These businesses have revolutionized retail over the past few years and now more than ever before, consumers are embracing online shopping platforms. E-commerce has grown exponentially in recent years with many new e-commerce business models emerging to cater to the different needs of online retailers. Whether you’re looking for a niche one-on-one business model or are interested in getting into an online market that has lots of room for growth, we’ve compiled 5 of the best online business models you can start from home. Check them out below.
Dropshipping
If you’re looking for a business model that is low-risk and low-investment, then dropshipping could be a great choice for you. A dropshipping business model is when a retailer purchases their goods from a supplier and then sells them to their customer without keeping them in stock themselves. The supplier sends the item directly to the customer and the retailer earns a profit from the sale without the added cost of storing and delivering the goods themselves. This business model has been growing significantly in popularity due to the low startup costs and low barriers to entry. To start a dropshipping business, you need to find a supplier who will drop-ship their products directly to your customers when they purchase the item from your online store. You can do this by signing up to an e-commerce platform. Not sure where to start? Let me in introduce you to: SaleHoo Educate. SaleHoo Educate is a new premium education platform where you can access in-depth courses, taught by eCommerce experts, on how to build, launch and grow a successful online business.
Affiliate Marketing
Affiliate marketing is another great online business model that has been running for a long time. This online business model allows you to make money by promoting other people’s products and services for a commission. Affiliate marketing has many benefits for both the affiliate and the company that they are promoting. The affiliate can earn a passive income from their efforts, the company can get more exposure for their product and the customer benefits from a wider range of products to choose from. To become an affiliate marketer, you need to sign up to an affiliate network. You will then be able to promote your chosen products and services through your own personalized website or social media pages. You will also have access to tracking software to monitor your sales and commissions.
Fulfillment by Amazon (FBA)
Online retail markets are growing at a rapid rate. This growth is thanks to online shopping being more convenient and accessible than traditional retail shopping and people are spending more money on goods online than ever before. If you want to capitalize on this increase in online retail and enter the e-commerce business model, then you may want to consider Fulfillment by Amazon (FBA). FBA is a business model that allows you to sell your products through Amazon’s online platform and have them stored and shipped directly to your customers. This is a great business model for those who want to tap into the huge online consumer market but don’t want to deal with all the hassle of shipping.
Advertising and SEO
If you want to take advantage of the ever-growing online marketplace but don’t want to invest in physical goods, then advertising and SEO could be a good option for you. Again, you can tap into the huge online consumer market by advertising products and services of other businesses. And if you want to take things one step further, then search engine optimization (SEO) could be the right business model for you. In short, SEO is optimizing the content of your website for certain keywords that people are likely to search for in a search engine, like Google, in order to drive traffic to your website and increase your brand exposure.
Canva Design and Publishing Tool
Nowadays, many businesses, including publishers and bloggers, need to create professional-looking images and graphics for their websites and social media channels. If you’re an artist at heart and want to join the revolution in digital publishing, then Canva could be a great option for you. With Canva, you can create professional graphics and images for your website, social media channels or other digital marketing materials. Additionally, Canva offers a wide range of pre-made templates, so you can spend less time creating content and more time promoting your business.
Fiverr Freelance Service Marketplace
If you have a skill that you want to monetize, then Fiverr could be a great option for you. Fiverr is an online freelance service marketplace that allows anyone to become a freelancer in their chosen field. Essentially, you create a listing offering to complete a specific service for a customer, such as designing a logo, writing a blog post, or creating a podcast episode. With Fiverr, you can choose to offer your freelance services for as low as $5. Fiverr also takes a small percentage of your earnings every time you complete a job for a customer.
Conclusion
Online businesses are growing and e-commerce is booming. This is thanks to the increasing number of consumers who are choosing to shop online and the ease of accessibility to these products. If you’re interested in joining the revolution and starting an online business model, then you’ve come to the right place. We’ve compiled 7 of the best online business models you can start from home. Now it’s time to take action. Pick an online business model that interests you and start researching how to start and run a successful online business. There is no better time to start than now.
