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Aspiring Business Owner? Here Are the 13 Best Online Business Ideas You Can Choose From

If you’re looking for the best online business ideas this year, we got you covered!

Even though we are already a few months into 2023, there’s still enough time to make that dream six figures and “tick off” your set personal goals before the year ends. 

And one fantastic way you can make these happen is by starting an online business. 

Online businesses are the latest craze in town, with about 2.64 billion people buying stuff online in 2023.

So it makes sense to set up yours now and cash in on the huge traffic!

But if you’re stuck on what kind of online business to start, don’t worry.

We’ve got you covered with some of the best online business ideas.

Best Online Business Ideas: What You Need to Know Before You Start

Starting an online business offers an excellent opportunity for you to make a bank without leaving the comfort of your own couch. 

It gives you the flexibility and freedom you have always craved, such that you can use it to supplement your income or turn it into a full-time career — while still living your best life. 

And that’s not even all. You can make extra money as an online business owner without shouldering high overhead costs. 

However, before you leap into a new business online, you must brace for the challenges associated with starting it, whether you are a first-time entrepreneur or have run a business before. 

For instance, you have to come up with a unique and profitable idea that will set you apart from the competition.

This idea should meet a need in a specific area and align with your interests for it to work. 

Speaking of ideas, we’ll look at some of the best online business ideas you can start today and succeed with. 

online business ideas - partners busy with online selling

13 Best Online Business Ideas You Should Consider in 2023 

1. Dropshipping

Dropshipping is an e-commerce business model that allows you to sell products without actually handling inventory. 

You simply create an online store, find a supplier that offers dropshipping, and market their products to your customers. 

When someone makes a purchase, the supplier will ship the product directly to the customer. You make a profit by charging a markup on the price you pay for the product.

Now, this eliminates the need to rent a warehouse to store your products or pay for them upfront, meaning you can run the business from anywhere and save money in the process. 

Plus, it gives you the freedom to focus on your day job since you won’t be bothered with inventory handling and fulfillment. 

Potential Income

Between $1000 to $5000 per month, depending on factors like niche selection, advertising costs, profit margin, and market demand. 

How to Start

As an aspiring drop shipper, the first thing you need to do is perform market research to choose the perfect product niche.

Then, find reliable suppliers on platforms like Alibaba or AliExpress that can deliver high-quality products and keep to their promises.

Finally, create a simple online store, and display these products in categories to make it easy for people to make buying decisions.

2. Affiliate Marketing

Like dropshipping, affiliate marketing doesn’t require you to create your own products or ship any product directly to the customer. 

This performance-based marketing strategy involves promoting other people’s products and earning a commission for each sale. 

You can do this through your blog, social media, or other online channels, but you must have a growing audience that trusts you enough to click the ‘buy’ button.

Potential Income

As an affiliate marketer, you can earn up to 10% in commissions, which can add up to $58k to $158k per year.

How to Start

The first step is to choose a niche you want to focus on.

Then, sign up for affiliate programs such as Amazon Associates to start promoting affiliate products once you are approved. 

3. Start Your Own Clothing Line

Are you someone with a soft spot for everything fashion? Then, you should consider starting your own clothing line. 

You can easily set it up from a cozy nook in your room and make heads turn when you do your magic. 

Whether you want to create casual wear, high-end couture, or streetwear, the world is your oyster.

There’s always room for new and fresh designs.

Potential Income

What you can make from your clothing line solely depends on the effort you put into growing your business. However, the average annual income is $51,000 per year. 

How to Start

Determine your target market and the type of clothing you want to create.

Also, conduct market research to stay updated about the latest fashion trends and study your competitors. Then, develop your unique designs and launch your business online. 

online coaching - online business ideas

4. Online Coaching

Online coaching became more popular after the COVID-19 pandemic, with many people opting for it due to its convenience and flexibility. 

If you have expertise in a particular area, online coaching is the best for you.

For instance, you can offer coaching services in a wide range of areas, such as health and wellness, career development, or personal finance. 

You can offer one-on-one coaching, group coaching, or even pre-recorded courses that customers can purchase and access at their own pace.

Potential Income

The pay for online coaches can vary widely, depending on your niche, experience, and clientele.

You can charge $200 per hour or from $50 to $500 per session.

How to Start

Identify your ideal niche and client. And then, create a strong online presence using a website or social media channels to attract clients and build your coaching business.

5. Online Course Creation

Online course creation is another popular online business idea. 

You can create courses in any niche, from cooking to coding, and share them with a wide audience. 

It’s one of the quickest ways to earn a passive income as you can sell your courses on platforms like Udemy, Teachable, or your own website, making it easy for customers to access them repeatedly. 

Potential Income

Between $1,000 to $5,000 per month, depending on the online course platform and the number of course purchases. 

How to Start

Make sure you have excellent teaching skills and expertise in a given area before you consider this business.

Even if you find yourself in a very saturated market, pick a unique subject no one has covered before and teach it so your content doesn’t have to be boring to the readers. 

6. Selling Handmade Goods

Ready to turn your handmade creations into a profitable business? Get ready to unleash your creativity and start selling your handmade goods today!

You can flip your love for the craft to hundreds of dollars by making jewelry, pottery, candles, or any other type of handmade item and selling it to a hungry market through an online store on platforms like Etsy, Amazon Handmade, or your own website.  

Potential Income

It varies widely. 

How to Start

First things first, you need to perfect your craft.

Make sure your handmade goods are of high quality and meet industry standards. Next, you need to create a brand and set yourself apart from the competition.

After you have your brand, it’s time to market your handmade goods.

Use social media platforms like Instagram and Pinterest to showcase your work and attract potential customers. 

social media management - online business ideas

7. Social Media Management

With the ever-increasing popularity of social media, many businesses are seeking help with their social media presence.

If you have experience managing social media accounts and creating engaging content, you can start a social media management business. 

You can manage social media accounts for businesses and charge a monthly fee for your services. Or you can choose to be paid per project as a part-timer.  

Potential Income

You can receive an hourly rate of $25-$250 depending on your level of experience, clientele, and nature of the project. 

How to Start

First, understand how social media works, from the latest trends to the content types you’re most excited about.

Next, garner enough experience by managing social media accounts for your family members, friends, or any small businesses in your area.

Build a portfolio and network with potential employers on sites like Linkedin, Instagram, and Facebook. 

8. Copywriting

Copywriting is one of the oldest businesses around and can be an ideal career path for you if you have a way with words. 

You see, a lot of customers end up pulling out their credit cards to buy a product after reading a wonderful piece of copywriting work done by a skilled copywriter. 

So, if you have what it takes to command such a reaction, dozens of companies will be queuing up for you to write their sales letters, landing pages, and other advertorials for them.  

Potential Income

U.S. copywriters earn an average annual salary of $64,855, according to ZipRecruiter. 

How to Start

You mustn’t have a degree or any experience before you start a career in this field, but you should at least know the basics of copywriting.

Therefore, it helps to read rich copywriting books and practice writing copy every day.

Go ahead to choose a niche to focus on and network with other professionals to land more job opportunities. 

9. Graphics Designing

Today, many companies turn to graphics to stand out from the competition, market their products, and improve the user experience, which means one thing — there has never been a better time to be a graphics designer!

Graphics designing is one way to have fun while making more money.

It gives you the freedom to work with different clients across various industries.

Plus, you can take on a wide range of projects, whether it’s a logo, brochure, or website design. 

Potential Income

As a remote graphics designer, you can be paid $24 per hour, which compounds up to $49,525 a year. 

How to Start

Pick up graphics design courses to develop your skills.

Be familiar with design tools like Adobe PhotoShop and build your portfolio by taking on small graphic design jobs. Finally, connect with people in your industry to increase your chances of getting hired. 

online translatoion - online business ideas

10. Online Translation

If there’s one job you can do as a multilingual individual, it’s online translation.

This is a fascinating field that offers you the chance to work on many projects, from translating legal documents and business reports to translating literature and subtitles for movies. 

Top businesses and individuals need this service to expand their reach to other countries, so you can make enough money working for them. 

Potential Income

If you can communicate clearly in two or more languages, clients will pay you up to $30 per hour or even more if you’re working full-time.

How to Start

Gain mastery of multiple languages, particularly the source and target languages, to begin with.

Choose a specific niche, and while you’re waiting for your first client, pick up one or two certifications to separate yourself from the rest.

11. Virtual Assistance

Virtual assistance earns its place on this list as it allows you to work from the comfort of your couch while helping company managers and business owners take care of the day-to-day business activities. 

As a virtual assistant, you can schedule appointments, respond to emails, and organize to-do lists.

And the best part? You don’t need any experience to do these!

Potential Income

If you’re good at what you do, companies will be willing to pay you up to $23.86 per hour or a monthly fee of $4,929. 

How to Start

Find out your desired niche, gain enough experience, connect with more people in your industry, and launch your business online to make it easy for clients to find you. 

12. Online Event Planning

With flexibility, exposure to different cultures, and potential for financial rewards, online event planner jobs offer an exciting and rewarding career path for those who are willing to put in the time and effort to develop their skills.

As a skilled event planner, you can plan and execute events for clients from the comfort of your own home as well as manage a wide range of tasks, from venue selection and vendor management to budgeting and marketing. 

So this means a high level of organization, attention to detail, and excellent communication skills are required for this role. 

Potential Income

Online event planner jobs have the potential to pay you about $29 hourly or as high as $1,990 per week, depending on your experience level and the kind of event you’re planning.

How to Start

Enroll in coaching programs to hone your organizational, communication, and problem-solving skills.

Determine your niche, and create a strong online presence to bolster your opportunities. 

And then, decide on your pricing structure before applying for jobs. It’s best to offer your planning services in packages to make it easy for clients to pay you. 

13. Flipping Thrift Store Finds

If you’re a bargain hunter who can scour the racks and discover hidden gems, flipping thrift store finds might be something you would like to do.

It can be a perfect side hustle or even a full-time business for you if taken seriously. 

All you have to do is help people comb through every rack and shelf to find high-quality items like vintage toys, old soccer jerseys, and so on.

You earn a decent income when you sell these second-hand treasures on platforms like eBay, Poshmark, or Depop. 

Potential Income

There’s no limit to how much you can make if you’re willing to put in enough time to learn how this business works. 

How to Start

Look out for unique pieces with the potential for upcycling.

Then, consider ways to refashion these items to make them more modern and appealing. This is where you get creative!

And when you’re done, sell them online or in person at vintage fairs or flea markets. 

best online business ideas in 2023

FAQs about Best Online Business Ideas

Which online business is best for the future?

Running an E-commerce business.

You can start with a relatively low capital, plus there’s no limit to how much you can make here so long as you meet the needs of your market.

Which online business is the most profitable? 

Providing digital skills such as graphics design and web design.

There’s a growing demand for these skills, so lots of top companies are willing to pay top dollar to get them from talented professionals like you. 

What business can I start with no cash?

As already discussed earlier, you can start dropshipping business from the comfort of your home without making any upfront cash payment. 

Best Online Business Ideas: Final Thoughts

In conclusion, the world of online business offers a plethora of opportunities for those willing to take the plunge. 

Whether you’re looking to start a side hustle or a full-time venture, the online landscape presents a low barrier to entry and limitless potential for growth. 

By leveraging your skills, passions, and creativity, you can turn your ideas into a profitable business that can provide you with the freedom and flexibility to live life on your own terms. 

So don’t hesitate to explore the best online business ideas in 2023 and pave your own path to success!

Feel free to ask your questions if you have any; we’ll answer them soon.