Online Business Ideas – There Are a Ton of Them!
What is the best online business idea? Each one of us will answer that question differently as there are many things you’ll need to consider. The key is to look for something that is right for you. You want to find something that will fit your background, skill set and of course something that you are passionate about. Because if you love what you do, it’s not work – it is fun!
With the number of online consumers growing annually, ecommerce has experienced explosive growth, not only in the U.S., but worldwide. Worldwide e-commerce sales will increase by 20.1% this year to reach $1.5 trillion, up a staggering $400 billion from 2012 as forecasted by eMarketer.com.
Online businesses can be a terrific opportunity to start your own business with less risk than investing in a storefront. You can work from anywhere, as long as you have a laptop and an internet connection and you have a drive to succeed. If you partner with a company that wants you to succeed and will offer complete training on your new venture then you’ll be well on your way.
What are the advantages of an online business?
- Flexibility – with an online business you can work from wherever you want to. Work from your home office, a poolside chaise, in a hotel room or in a carpool line.
- Manageable workload – Because you are working for yourself, you can choose when and how many hours to spend working each day. Of course the more you put in the more you’ll get out of it but you can be flexible with your time.
- No inventory – many ecommerce sites are filled with drop shipped products, so you don’t have to purchase or store expensive inventory.
- Minimal investment – less of an investment when compared to a storefront.
- You can live your dream – You can make the rules and rule your own life.
Can you benefit from running your own online business?
Of course you can!
- If you are a Retiree looking to supplement your income, an online business is an ideal solution.
- Baby Boomers looking forward to retirement, but are looking to also do something they love.
- If you love to travel, an online business can help support your nomadic lifestyle.
- Stay at home moms looking for an additional income or just wanting to keep their skills intact.
- If you have chosen to live abroad, you can continue to earn an income from anywhere in the world.
What are your options?
There are many different options for online businesses out there. You can:
- Offer consulting
- Be a blogger
- Become a virtual assistant
- Travel and be a freelance travel writer
- Operate an ecommerce website
In a recent blogpost, we detailed some of these options. If you’d like more information on the ecommerce industry, Pure Ecommerce has done the research for you and developed websites based on their ecommerce strength, including profit margins and availability of products for each industry. The following industries offer terrific online business opportunities for anyone who dreams of business ownership!
When it comes to starting an online business you need to first have an idea of what type of business you would like to start and then examine the industry. Here are some of the most popular niche market internet businesses and important industry statistics to review.
- Toy Internet Business: The global toys and games industry is expected to hit the $100 billion mark by 2015, according to research. Market growth is expected to accelerate to a yearly rate of 0.1% from now until 2016 to reach almost $22.1 billion in the U.S. [Global Industry Analysts]
- Online Furniture Ecommerce Business: With the economy and house sales rebounding this industry is seeing a boost! Overall consumer spending figures for home furnishings are projected to rise a healthier 3.5% in 2014, to $98 billion. [Furniture Today]
- Online Pet Business: Since 68% of U.S. households own a pet, which equates to 82.5 millions homes discovered in the 2013-2014 APPA National Pet Owners Survey. This is industry will open up the opportunity to reach a vast amount of consumers and sales in this industry is projected to reach an estimated $58.51 for 2014. [American Pet Products Association]
- Made in America Internet Business: 78 percent of Americans would rather buy the American product, according to a nationally representative survey by the Consumer Reports National Research Center.
- Maternity Ecommerce Business: People are waiting later in life to start there families and this leads them to have more disposable income to spend during the maternity phase and into the birth of their children. The maternity apparel market in the US is expected to reach $4.8 billion by 2015. [Global Industry Analysts, Inc.]
- Online Baby Boutique: With a baby being born approximately every 4 seconds the demand for baby products is definitely booming and this industry is expected to increase total sales to 66.8 billion U.S. dollars by 2017. [Statista]
- Senior Care Online Business: Everyone ages each and every day and by 2030, 70 million Americans will be over the age of 65. This is one out of every five Americans. While 30% of family caregivers caring for seniors are themselves aged 65 or over; another 15% are between the ages of 45 to 54. As society ages the need for care essentials will be in high demand! [U.S. Department of Health and Human Services]
- Online Health and Medical Business: With society growing and aging the demand for health and medical products is in high demand! The Health Care Industry Annual Revenue has reached a total of $4.5 trillion across the world were $4.5 trillion in 2012, of which, US solely account for $ 2.2 trillion.
- Online Fitness Website Business: Increasing awareness about health and fitness, combined with lifestyle changes, overall awareness to become more healthy and increasing incomes in developing markets are driving markets such as sports and fitness clothing to $180.9 billion by 2018. While the global market for sports and fitness nutrition supplements is projected to reach $6.17 billion by 2018. [Global Information Research]
- Online Gift Website Business: The gift Industry is considered to be one of the most recession proof industries. It is valued at over $300 billion and growing. Consumers are turning to the internet to purchase their gifts especially at the holiday season as Cyber Monday being the most popular shopping day on the web for holiday gifts and it has surpassed Black Friday for the past two years! [National Retail Federation]
- Online Wedding Favor Business: The internet is one of the best resources when planning a wedding! This is why 78% of couples use it to search for products & services to use on their special day. The average spending on weddings is on the rise which will boost this massive to $50.6-billion Wedding Services industry an expected growth rate of 2.3 percent by 2018.
- Organic Online Business: Consumers are more conscious about the products they are using and consuming. This is why the organic and eco-friendly industry has seen significant growth of the past several years with 73% of U.S. families buy organic products at least occasionally. There are many product options associated with this industry such as, foods, home furnishings, clothing, toys and more! [Organic Trade Association]