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Five profitable business ideas to undertake

Category: 
Entrepreneurship

The fear of failure is one of the main barriers when it comes to entrepreneurship. We are afraid that all the hours and resources invested will not bear fruit. While it is true that starting an activity on your own always involves taking certain risks, there are profitable businesses that demand a minimum initial investment and reduce insecurity. Thanks to the new technologies, profitable ideas of entrepreneurship can be launched.

Five profitable business ideas with a minimum investment

1. Dropshipping

The dropshipping is a system of retail so that you become a kind of intermediary between the buyer and wholesaler, who is who distributes the goods. Through your online store, you are responsible for managing customer service, generating the database and marketing actions; while the wholesale company stores, packages and ships the items in your name.

The main advantage of dropshipping when it comes to entrepreneurship is that you can reduce the economic risk since you do not have to invest in infrastructure or merchandise. You can focus on improving sales by leaving the logistics in the hands of the wholesaler. One of the main problems of this model is that profit margins are very tight, so to make this business idea profitable you will have to start a good marketing strategy that allows you to sell a lot.

2. Infoproducts focused on online training

The online training sector has grown a lot in recent years. A report by Global Market Insights revealed that in 2017 the e-learning billed 183 billion dollars. With an interannual growth of 5%, it is expected that by 2023 it will reach 240 billion. The courses adapted to mobile represent a large part of that market, and in 2020 they could generate about 37.6 billion dollars.

To start a profitable venture in this sector, you must create quality content, get authority in your niche and offer interesting products. In the beginning, you can use platforms such as Amazon to sell your ebooks and Coursera to design and sell your courses. The interesting thing about this business idea is that the initial economic investment is very low, although you will have to invest a lot of time in creating a specialized database, then it can become a source of passive income.

3. Niche websites monetized with affiliate marketing

The niche websites tend to position themselves better in the search engines, so they are ideal for monetizing them with affiliate marketing. It is a profitable business that demands little investment, and the key is to find the right niche, in which there is not much competition, but that allows you to sell products at interesting prices. Then you will have to do a good job of searching for keywords.

Most affiliate programs do not hinder access and offer between 5-10% commissions for each sale. The Amazon affiliate program is one of the most popular, but there are other specialized programs that can even provide higher commissions. The main problem is that you will only charge a commission for the first sale; you will not receive anything for recurring sales.

4. Online sale of handmade products

Fraser Doherty, the famous Scottish entrepreneur, started his adventure at the age of 14 selling 100% natural jam that he made at home but in 2007 he had already become one of the suppliers of the British chain of supermarkets Waitrose and today SuperJam, they are in major supermarket chains around the world.

If you work as an artisan and have a good product, you can sell it online. You can start a profitable business without having to open your own store taking advantage of sites specialized in this type of products that already have an assiduous clientele where your creations will have more visibility. Etsy and ArtFire are some of the best known.

5. Subscription boxes

The business of subscription boxes has skyrocketed. This business idea is not new, but with the irruption of the Internet, it has expanded its market. In this sector, Dollar Shave Club, created by Michael Dubin in 2011, is one of the iconic examples of profitable entrepreneurship since it sold his company for a billion dollars.

To make this small business profitable, you just have to find a good market niche. There are sites like CrateJoy specially designed to connect potential subscribers with the owners of subscription businesses, becoming a perfect platform to let you know or scale your business.

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