In recent years, there has been a growing trend towards online business and many entrepreneurs and small business owners are shifting away from traditional brick and mortar facilities. Today, we’re going to look at seven popular business models in 2019. Let’s get right in!
An online career path that is growing in popularity is freelancing. A freelancer is self-employed and does not work for an specific company. They normally use websites like Upwork, Fiveer or Freelancer.com to advertise their services and get access to a large bunch of customers.
They are normally contracted for an specific task, job or project where they agree on a fix price or are getting paid on a hourly rate.
Although each freelancer is different, there are generally a wide variety of jobs that they might perform. These include:
- Freelance Writing.
- Freelance Photography.
- Freelance Graphic Design.
- Freelance SEO.
- Freelance WordPress.
- Freelance Software Development.
Although this model is a very quick way to start getting money online, scaling it is much more difficult that other Online Business Models.
2. Affiliate Marketing
One of the best business models and definitely my favourite one is Affiliate Marketing. Starting Your Own Online Business as an Affiliate Marketer is the quickest and probably the most straight-forward way to start making money online.
As an affiliate, you will basically have to promote and advertise others company products or services, by using your own blogs, websites and marketing campaigns in an exchange of a commission when a sale is done to one of your leads.
Your commissions may go from 2% to 50 – 60%, depending on the type of products or services that you are promoting.
The fact that you only have to drive traffic to other company’s website and that you do not need to own the products or services, allows you to work in any niche that you may like or find interesting.
Some of the most profitable niches for Affiliate Marketing are:
- Online Dating.-
- Health, Fitness and other Sports.
- Healthy Eating, Diet.
- Online Courses. .
- Travel Agencies
- Online Clothing
Over the past decade, shoppers are increasingly looking to purchase products online as it has became a very easy and practical way of buying products.
As you probably already know, eCommerce it focuses on selling goods and services via the internet. The following are some of the ways you can do it.
- You can create a website and sell the products through that portal.
- You can sell goods and services using a software that allows you to build your own Online Store. Some of these eCommerce solutions are: Shopify, Magento, Wix, Volunto.
- Selling on Amazon.
Dropshipping is one of the more lucrative online opportunities. It essentially consists in selling products online directly from your supplier, with the advantage of not having to worry about inventories, shipments, and other related costs.
- You decide what products you want to sell from your suppliers and place them on your website.
- You set up the retail price for each product.
- A client place an order and pay you the retail price (e.g. 200 €).
- You forward the order to your supplier and pay him the wholesale price
(e.g. 120 €), maintaining the profit of 80 €.
- The supplier ships directly to your customer the goods.
If you get into the drop shipping business, you can enjoy an excellent return on your investment. Just be careful to have reliable, effective, and safe shipping services to be able to maintain your customers satisfied.
5. Subscription-Based Businesses
One online business model that’s been known to be successful is subscription-based business. Subscription-based business models charge customers a weekly, monthly or annual fee to access a specific service.
Imagine you have been working on a Gym for a decade and became a Star on Fitness. Over the years, you have developed training programs that have helped you and others reach their goals. You know a lot about exercise technics, nutritionism and healthy habits and have decided to built a directory of different highly valuable videos and other content such as articles, diet programs, etc.
Now imagine that you offer access to all that highly valuable content, plus 1 hour of online consultancy a month, for a 10 € monthly fee. What would it happen if you would get 500 members?
6. E-book Writing
One of the most overlooked online opportunities is E-book writing. Many people have personal experiences, advice, or stories that they want to share with the general public. If you have writing talent and are looking for a way to make income via this method, consider writing an E-book. Every time someone downloads your E-book, you will earn money, making it one of the best business models for online workers.
7. Fulfilment By Amazon
Last but not least, one of the best online opportunities is fulfillment by Amazon, commonly named FBA. This business model allows to position products of traditional businesses in the online market. The following could be a resume:
- Subscribe to the FBA program of Amazon and follow their instructions.
- Define a list of products to sell and its price.
- Ship your inventory to Amazon stores.
- Amazon place the products on their website and Applications stores.
- They sell it from their store.
- You are able to advertise your products to get more sales.
This business model is excellent for individuals who need a large online platform to sell their products.
There you have it, seven online business opportunities you should consider pursuing. If you’re looking to start an online business, hopefully this article has provided you with some new ideas.