11 Profitable Online Business Ideas to Start in 2024

 

Introduction 

Creating an online business offers many advantages. It’s flexible and there’s huge potential. more than 2.14 billion people are currently turning to online shopping. It would be a shame not to take advantage of it.

Experts predict that revenues from e-commerce and other Internet businesses will continue to grow. They could reach $8.1 trillion by 2026. If you are thinking of launching an e-commerce business, now is the perfect time.

This article will explore 28 lucrative online business ideas that you can start today. To help you choose which one is right, we'll break down each online business idea with examples, required skills, and relevant statistics. Additionally, you will also know how much you can earn for a given activity.

We will also explain the steps necessary to create your own online business and earn money on the Internet from the comfort of your home with complete independence.

These are the list of the business ideas below:

1.Launch a 2.subscription box

3.Do consulting

4.Become an affiliate

5.Buy and resell websites

6.Buy and resell domains

7.Develop site themes

8.Develop mobile applications

9.Become a community manager

10.Do virtual recruiting

11.Become a virtual assistant

12.Do data entry

13.Sell ​​transcription services

14.Launch online training

15.Create a podcast

16.Start a YouTube channel

17.Getting started in web writing

18.Write CVs and cover letters

19.Sell ​​translation services

20.sell photos via image banks

21.Narrate audiobooks

22.Get started in freelancing

Estimated income: around €33/hour depending on industry and location

Requirements: skills and experience in a particular field

The rise of the  economy makes freelancing a viable alternative to traditional jobs. 75% of freelancers reported increasing their income compared to their previous full-time jobs.

Those with prior professional experience can leverage their expertise and the network they've built to establish a professional brand.

You can freelance in almost any industry. However, web developers, graphic designers, and content writers are some of the most in-demand jobs online.

To get started in this free online business, choose a niche and a unique value proposition to stand out in the competitive market. 

For example, freelance writer Elise Dopson focuses on creating journalistic-style content for B2B and SaaS companies. It is good to have a business plan before embarking on setting up an online business project.

Freelancers usually create a portfolio website to promote their services online. Registering on marketplaces like Fiverr and creating a LinkedIn profile can also improve your online presence in your field of activity. It is important to note that this online business generally does not require any prior investment.

2. Create a blog

Estimated income : €100 to € 10,000 + /month , depending on blog operational expenses and monetization channels

Requirements : Writing, content marketing, and search engine optimization (SEO) skills

Starting a blog is one of the best online business ideas. Many six-figure entrepreneurs like Pat Flynn started out blogging about their skills and knowledge to a small audience.

A successful blogging website is more than just sharing ideas on a topic. Remember to focus on the following things before starting a blog:

Niche . A website focused on a particular theme is more effective than a website that covers a wide range of topics. Explore our blog ideas post for inspiration.

Content quality . Producing high-quality, unique content can turn visitors into loyal readers and rank your blog higher on search engine results pages.

Traffic volume . Bloggers with high visitor numbers generally have a better chance of attracting potential business partners and selling their products or services.

Monetization options . Popular methods for making money from a blog include affiliate marketing, Google Ads, and sponsored content. Consider combining them to maximize your profits.

3. Publish an eBook

Estimated income : 35 to 75% royalties on the price of the eBook depending on the platform

Requirements : Creative writing and content marketing skills

Thanks to the Internet, you don't need to send a manuscript to a publisher to become an author. Anyone can sell ebooks through a personal website or self-publishing sites like Amazon KDP and Apple Books.

If you're a blogger, eBooks are great for compiling existing content into a comprehensive guide. This is what Elna Cain does with her long articles. She also includes printable worksheets in the eBooks to add more value to the product.

Self-publishing platforms have the advantage of a pre-existing audience. This saves you the need to start from scratch. However, you cannot claim the gross earnings from the eBook. So, many writers set up a website to maximize their income.

If you therefore decide to create one, read our tutorial on how to create your own website from scratch.

Keep in mind that self-publishing a book costs between $150 and $2,000. So, to pursue this online venture, make sure you allocate a substantial budget to cover the initial costs.

4. Launch an e-commerce site

Estimated income : €1,000 to €100,000+/year , depending on the activity of the online store, expenses to be incurred and the size of the market

Requirements : skills in business management, digital marketing and site maintenance

Creating an online store to sell clothes or other items is one of the best online business ideas to earn money and fulfill all your dreams. Find profitable online business ideas by searching for trending products or tapping into a micro niche. Segmenting your niche may initially attract low volumes of traffic, but it helps reduce competition and offers substantial growth potential.

Before starting your online store , carefully calculate the startup costs. The price of a website depends on many factors, including its features and platform.

A simple, small online store can cost between €100 and €500 . But if the e-commerce site is huge and complex, the cost can go up to $10,000 or more.

In addition to displaying products on your online store, consider selling on social media platforms like Facebook or Instagram . Diversifying sales channels can expand your audience and therefore increase your online business revenue.

5. Get started with dropshipping

Estimated income : €200 to €3,000+/month , depending on the niche chosen and the size of the market

Requirements : skills in business management, digital marketing and site maintenance

Dropshipping is one of the easiest businesses for beginners to start. This is completely normal, because it is low risk, but profitable.

This business model involves partnering with vendors to sell their products on your platform. The seller takes care of storage and shipping, while the seller focuses on marketing the goods to potential customers.

There is no need to manage inventory, so start-up costs are relatively low. The average cost of setting up a dropshipping business site is €150 . This figure includes a web hosting service, a domain name, and membership in a provider directory like Spocket .

Since customers cannot inspect products in person, the success of this online business model relies on customer trust. Evaluate suppliers before collaborating to avoid problems and provide excellent customer service to ensure their satisfaction. This is how your project can increase in value.

6.Sell used products

Estimated income : €50 to €5,000 + €/month

Requirements : business management and negotiation skills

If you are looking for a small-budget business idea, sell second-hand goods online to make a profit. Look for decent quality unused items in your household or purchase second-hand items from second-hand markets.

Next, determine their prices by identifying how many competitors sell the same products. In some cases, repairing or recycling the item is necessary to increase its value. Although not a prerequisite, having basic DIY or craft skills is beneficial in this industry.

For example, a fashion YouTuber restyled her thrifted outfits and sold them on the fashion marketplace Depop

7 . Become an affiliate

Estimated income : around €50,000/year , depending on the affiliate program and niche

Requirements : Content Marketing Skills

Affiliate marketing is one of the most affordable online business ideas. An affiliate marketer promotes a brand's products or services by including links to them in their content. They will receive a commission based on the number of purchases made through the affiliate link.

Watch our complete guide in this video tutorial from Hostinger Academy which easily explains all the steps to becoming an affiliateTo start this online business, sign up for affiliate programs like Amazon Associates, Skimlinks or Hostinger Affiliates .

Next, produce content, such as blog posts, with relevant product information. The key is to create original content that resonates with readers' interests.

A great example of an affiliate website is Baby Gear Lab . This is a site devoted to the essentials of childcare. It publishes comprehensive recommendations and reviews on baby products.

The Baby Gear Lab blog also provides affiliate information. This is an opportunity that lets readers know that the website owner will make money if they use the links to purchase products.

8.Buy and resell websites

 

Estimated income : €10,000 to €100,000 + €/year

Requirements : skills in web development, web design, SEO and digital marketing

The practice of buying a website for resale is an online business that requires more time to turn a profit than other business ideas on this list. However, many entrepreneurs like Yaro Starak are interested in it.

This online sales practice begins with the acquisition of poorly performing sites that have growth potential. Marketplaces, such as Flippa , are a popular option for carrying out this activity.

Once the transaction is concluded, the work to increase the value of the website begins. You need to make sure that the site functions properly and is optimized for search engines. Next, conduct market research on the most effective monetization methods for the site's niche.

The website must generate significant traffic and revenue before being put up for sale. Buyers will be inclined to buy provided it is profitable.

Website resellers typically price sites at two to three times their annual revenue. For example, an e-commerce business making €1,200/year may be available for €2,400 to €3,600.

9. Buy and resell domains

Estimated income Requirements : digital marketing skills

Buying and selling domain names can be a successful online business when done right. In fact, high-demand domains can sell for up to millions of dollars. As a result, the most popular domains are often unavailable.

Many domain resellers choose names with local keywords, like jobsinlondon.com . In addition to being accessible to everyone, these areas also have less competition.

Start by searching for potential, affordable domains on domain checkers or auction websites like Sedo . Consider purchasing multiple names at once to increase sales prospects.

Next, create a landing page for the domains you want to sell or send email pitches to potential customers. Keep in mind that persistent marketing is necessary to find the right buyer

10. Start a Youtube channel

Estimated income : €2,400 to €4,000/month on average for channels with 100,000 subscribers

Requirements : communication skills, video editing and social media management

The growing popularity of content creators has made video creation a compelling business idea. With over 120 million daily active users, YouTube is currently the most popular platform for posting video content.

You can create video content from home. It can include reactions to everything from software tutorials to cooking recipe demonstrations.

If you decide to start a YouTube channel, focus on having 1,000 subscribers and 4,000 watch hours within the first few months. If you exceed these statistics, you will be eligible for the YouTube Partner Program . This will allow you to monetize the channel.

Other monetization methods include Patreon crowdfunding, affiliate marketing, and sponsored content.

11. Get started with web writing

Estimated income : 

€5 to €2,000 per blog post depending on length and quality

Requirements : Writing, content marketing, and SEO skills

This internet business idea is great for people who want to make money writing online without creating their own blogging sites.

An online writer makes money by submitting articles to other people's blogs. Blog posts are often written by “ghost writers,” meaning they will be under someone else's name.

Many digital publishing platforms like Business2Community and Writer's Digest are open to submissions from writers. Choose sites in a familiar niche to make the writing process more enjoyable.

Why start an online business?

If you still have doubts about becoming an online entrepreneur, here are some common reasons to start an online business:

Flexible opening hours and location . An online business owner can set their own schedule and work environment, allowing them more time for personal activities.

Low start-up costs . Unlike a physical store, growing an online business does not require a physical storefront. You can often make money online with a laptop and a good internet connection.

Large audience . The reach of online businesses is not limited to the local market. The Internet allows businesses to sell products or services online to customers around the world.

Passive income . There are many monetization methods, including affiliate marketing and online display advertising. These make an online business a compelling side hustle.

I found my business idea online, and then

Coming up with a business idea is just the beginning of a long journey as an Internet entrepreneur. Here are the next steps:

Conduct market research to identify target audience and market demands.

Decide what niche you want to explore.

Get a domain name and web hosting .

Create a website that represents your brand.

Promote your product or service on various online platforms.

Conclusion

There you have it, now you have the 11 online small business ideas to pursue in 2024. Since each is profitable in its own way, consider your skills, experience, and income expectations when starting your own business.

For example, those with writing experience can try blogging, freelancing, or publishing an e-book. In the meantime, if you have skills in sculpture, painting, or crafting, create and sell handmade items.

Becoming a successful digital entrepreneur requires hard work and dedication. Choosing an online business idea that matches your interests and passion will make the journey less arduous and more rewarding.

We hope this article helped you start a profitable online business. Good luck