Are you looking for a way to make money working from home? Whether it’s just a side hustle or you want to find an alternative to your 9-5 PM job, starting an online store is a great idea. Not only can you work on your terms, but you can also build the business that you’ve always wanted to.
Just like any other type of business, you need to satisfy a need in the market by either selling products or services for you to make money. Identify a niche that is in high demand, unique, and less competitive and you will always make sales.
Here’s what types of online businesses you can start that are more likely to be successful.
Start a dropshipping business
Dropshipping business involves getting into an agreement with suppliers of pre-existing products that you wish to promote. You earn commission for every product bought by you and are not actively involved in order fulfillment. When you promote their products in your store and you manage to make a sale, the supplier will take care of both packaging and shipment. If you don’t have enough money to buy your own inventory, this is a good starting point to online selling.
Sell your own products
If you have enough money for inventory, you can also start selling your own items online. The trick here is to identify products that are in demand and go for a niche that is not very competitive. For instance, you can choose to sell clothing online but you might opt to specialize in certain types of clothes either for men, women, or kids.
Do keep in mind that you will have to fulfill orders and have a place to store your products, whether this is a warehouse or your own home.
Sell services as a freelancer
If you are good at writing, graphic design, programming, and other skills, you can monetize them online by starting a Shopify store that deals with service delivery. The world is now moving into a gig economy and most people like to hire short term workers instead of permanent jobs.
If you are talented or experienced in some of these areas, you can monetize them at the comfort of your home. To get interested clients, you need to design a quality store clearly stating what you offer.
Make sure to market and promote your services so you can bring some interested clients to your website.
Sell digital products
If you are an expert in a certain field and you are equipped with a wealth of knowledge, you can also make money by selling your digital products. You can start by preparing your online course or ebook that teaches people various important skills and tricks.
Once they are ready and you have already brainstormed about the store name and domain, go to your ecommerce platform and create your online store. You will get a chance to market your digital products to a wider target market and you will make passive income every time a client buys any of your digital products.