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27 Best And Profitable Online Business Ideas For 2023

By Aquif Shaikh

Jan 5, 2023

Are you looking to start an online business but falling short of ideas?

Don't worry; you're not alone.

Lack of business ideas is the most difficult part when starting an online business in 2023, and most budding entrepreneurs struggle with it.

In fact, it is the main reason most people quit even before they get started. After all, no one wants to pump in money and time to end up with a failed business, right?

So, if you too are sailing in the same boat, fear not, as in this article, I will be discussing the best online business ideas in 2023.

Excited?

So, let's get right into it.

How Did I Compile This List Of Online Business Ideas?

Below are some of the factors that I considered while shortlisting business ideas to be added to this list

1. Growth Prospects

That's the number one factor that I took into account while picking up a business idea to feature on this list.

During the last one month or so, I spent quite a lot of time researching various online business ideas and finding their scope in the near future with real statistics and research from authentic sources like Statista and other research websites, including government research. 

I've tried my best to include the latest statistics. So, you can only expect quality suggestions to be on this list. Just the best business ideas.

2. Capital Requirement

You need money to start a business. And not everyone is capable of investing huge. So, the capital requirement is another thing that I considered.

This list is a mix of ideas that require huge capital as well as the ones that require minimal capital. Although, I highly suggest you do your own research before getting invested.

3. Profit Potential

Earning profits is the reason people invest in a business. So it's necessary to take the profit potential into consideration while choosing an idea for your startup.

4. Scalability

There are several reasons why people would want to start small. It could be the lack of capital or even minimizing the risk.

So, I've tried to give higher preference to businesses that are easy to scale up.

What Are The Best Online Business Ideas For 2023?

Below is the list of best and Most Profitable Online Business Ideas for 2023.

1. Start A Blog

A blog is a type of website where you can share your opinion, knowledge, and experiences with people from across the globe.

One characteristic that sets blogs apart from static websites is that the content of the blog is displayed in reverse chronological order, with the most recent content at the top.

Originally blogs were designed to share their memories and keep a record of the same.

However, over the years, they have evolved into a great source of earning passive income.
In fact, even brands these days leverage blogs to drive more sales to their online business.

Why Do I Recommend Blogging?

Being a full-time blogger myself, I can say with full conviction that Blogging is one of the best online businesses to start in 2023. Here are a few reasons I say so.

1. Low-Cost Online Business

Starting a blog does not require a huge investment. You can start a blog for as low as $35.4. That's less than the cost of eating out once!

Of course, if you pump in more money like other businesses and put in the right resources, Blogging can give you incredible results.

2. Passive Income

Once you set up your blog, it can give you a consistent passive income month after month. This means you continue to make money even as you enjoy a month-long vacation with your family and friends.

3. Building Authority & Recognition

Blogging comes with fame. If your blog becomes successful, you become a public figure, as people from all across the globe will follow you.

Even brands will approach you to collaborate and promote their products. Apart from fame, it's a great feeling to be valued.

4. Increase Income For Other Businesses

If you aren't interested in becoming a full-time blogger and rather want to start a product-based or service-based business, a blog can still help you generate more traffic to your website, which in turn can get you more leads and sales.

How Much Can I Make From Blogging?

You can earn a full-time income from your blog. Blogging is currently my only source of income.

And I am not alone who is making good money from a blog. Several bloggers from across the globe are making a comfortable six-figure income from their blogs.

Adam Enfroy, Michelle Gardner, Ryan Robinson, Matthew Woodward, Pat Flynn, Harsh Agarwal, and Anil Agarwal are some of the bloggers that hit my mind when I talk about bloggers with 6-figure incomes.

Of course, I am just considering individual bloggers and not big blogging companies. If I were to consider them, Huffpost makes over $250 million per year, Engadget.com makes around $50 million per year, and CopyBlogger.com makes $32 million per year.

I can go on and on. But I hope you got an idea about the kind of income people are making from their blogs.

Though, I'd like to clarify that not everyone makes a six-figure income. In fact, several bloggers fail to make $100 per month. It all depends on how serious you are about blogging as a full-time business.

What Skills Do You Need To Start A Successful Blog?

You can succeed in Blogging by learning everything from scratch. I started a blog for myself when I had absolutely no idea what a blog was.

And despite being from a non-technical background, I was able to learn everything from scratch and make my blog a big success.

That being said, below are some skills that will give you an edge in Blogging

1. Content Writing

Content is king. If you can write great content for your blog, your job as a blogger is half done.

2. Search Engine Optimization

Search Engine Optimization (SEO) is a set of techniques that you can use to rank your blog high on search engines.

Since bloggers mostly rely on free organic traffic from search engines, especially Google, you must make sure to learn at least the basics of SEO.

3. Marketing Skills

Often ignored, Marketing is an important skill to have for bloggers, especially if they are commissions with brands.

Apart from this, elementary knowledge of Social Media Marketing, Web Designing, Graphic Designing, and a few other skills can be helpful. But they aren't critical to Blogging.

How Much Does It Cost To Start A Blog?

Blogging requires you to spend on the following things

1. Domain Name And Web Hosting

You can start a blog with an affordable shared hosting option like Dreamhost. You can get Dreamhost for as low as $35.4, which includes pricing for the domain name as well as web hosting for one year. 

That's about $2.95 per month which is less than the price of coffee in most countries.

2. Content Creation

Content creation is not cheap. And that's the reason, as a blogger, you should be able to create the content for your blog all by yourself, to begin with.

Of course, as you start generating revenue and get more occupied with other things, you can hire content writers. But at that stage, it becomes quite affordable.

3. Search Engine Optimization

That's another thing you should manage all by yourself. In fact, I highly suggest handling SEO yourself even if your blog grows, as incorrect SEO can bring down your blog in no time.

4. Website Design and Development

This is an optional expense. There are free as well as cheap premium themes and page builders available in the market that you can use to design your own website with zero coding knowledge.

I have already covered in detail about starting a blog. So, I am not going to dive deep into it. For more information, you can check out my article on How To Start A Blog In 2023

How Much Can You Earn From A Blog

There's virtually no limit to your earnings from Blogging. For instance, you can check this list of top bloggers who publish their income reports. You can see several of them are earning easy 6-digit income.

However, you should not expect reaching to that level during the initial days. But, if you put in the effort and follow my advice, you can make a comfortable 5-digit or even 6-digit annual income from your blog.

2. Search Engine Optimization (SEO) Business

SEO stands for Search Engine Optimization. As the name suggests, it is a set of techniques that you can use to rank a website high up on the Search Engine Results Page (SERP)

As an SEO Consultant, you will be responsible for helping business rank at the top of Google and other search engines. Your responsibilities will include keyword research, competitor analysis, on-page optimization, and link building.

Why Do I Recommend Starting An SEO Business?

Below are the reasons I recommend starting an SEO business in 2023.

1. Growth Potential

According to research by Research And Markets, the SEO industry is set to grow from $50.45 billion in 2021 to $103.34 in 2025 at a CAGR of 19.6%, which is pretty high.

Research And Markets SEO Business Growth Potential

Since it's a growing industry, Blogging is unlikely to get out of fashion.

2. Low Entry Barrier

SEO is great for people who want to start a business with low capital. To get started with SEO, all you need is a laptop, an internet connection, and a few SEO tools.

3. High Return On Investment

Despite the low investment, with just a handful of clients, you can earn a 6-digit annual income from the SEO business.

How Much Do SEO Consultants Earn?

The money you can earn from the SEO business depends largely on the location of your client and the scope of your service.

It would be hard to find an SEO client paying $300 per month in developing countries like India. However, most SEOs in the United States and Europe charge upwards of $1000 per month for their services.

Likewise, if you are just offering On Page and Technical SEO services along with basic off-page activities, you can charge lesser. However, if you provide quality link-building services that includes HARO link building and PR link building, you can charge upwards of $5000/month.

Recommended Resources

1. On-Page SEO Tips For Improving Your Search Rank

2. eBook: 3 Months to No.1: The 2022 "No-Nonsense" SEO Playbook for Getting Your Website Found on Google

3. IoT Development Business

The Internet of Things (IoT) refers to the network of physical devices, home appliances, vehicles, and other electronics connected and operated using software.

In Layman's language, Alexa, Google Home, smart switches, and appliances that you use are all part of the IoT Network.

Why Do I IoT Development Business

The Internet of Things is still a futuristic concept that is still not very popular in 2023. However, below are some of the reasons I feel IoT development is a great business idea for 2023.

1. Growth Prospects

As reported in the IoT Analytics, the number of connected devices as of 2018 was 17 billion, which is expected to double to 34.2 billion in 2025.

Number Of IoT Devices By 2025

As per Fortune Business Insights, the global IoT market is set to grow at a CAGR of 26.4% from $384.7 billion in 2021 to $2.465 Trillion by 2029.

So, naturally, the amount of money put into IoT application development will increase too, which makes IoT Development a lucrative online business idea for 2023.

2. Technological Advancement

The technology behind the Internet of Things is still new. However, as you know, it is growing at a fast pace.

We might see a time when most of our day-to-day activities, like driving, using home appliances, opening and closing doors, etc., will all be operated using IoT.

This means that newer opportunities will open up as more sophisticated technologies come out, which will increase the demand for skilled IoT developers even further.

Recommended Resources:

1. How to become an IoT developer: 6 tips

2. eBook: IoT Development for ESP32 and ESP8266 with JavaScript: A Practical Guide to XS and the Moddable SDK

4. Create And Sell SaaS-based software

Software as a Service (SaaS) is a software distribution model in which the software is hosted centrally on the cloud and customers can access it through their web browser and a software application. The licensing is usually on a subscription basis.

A great example of a SaaS-based tool is Microsoft Office 365. Unlike traditional Microsoft Office, you don't pay a one-time fee for the software. Rather, you pay a monthly fee to keep using the latest version of the product.

Why Do I Recommend Creating And Selling SaaS Tools?

Below are some of the reasons why I recommend creating and selling SaaS-based software.

1. Growth Prospects

As per Statista, during the 2022-2027 period, the SaaS market is expected to grow at a CAGR of 9.8% to $330.6 billion in 2027. This opens up a huge opportunity for starting a business in the domain.

2. Greater Adoption Rates

Off late, a lot of customers now prefer SaaS tools as the software does not require any installation and can be used from anywhere.

Also, the customers do not have to worry about the upgrades as the same is handled by the company.

3. Recurring Revenue

SaaS-based services provide a steady source of income as customers are subscribed to the service for a long period of time. This reduces the pressure to acquire new customers each month.

4. No Piracy

Since the software is hosted on the cloud, it is not possible to pirate the same. This reduces a lot of headaches that usually come with selling traditional software.

5. Low Maintenance Cost

The maintenance cost for SaaS-based services is very low compared to regular software since the updates are done automatically. This saves you a lot of time and money.

Recommended Resources:

1. How to sell SaaS: 9 tips for startup sales success

2. eBook: Product-Led Growth: How to Build a Product That Sells Itself

5. Web Development And Design Business

If you are a creative person with a knack for design, then starting a web development and design business can be a great option for you.

As the name suggests, Web Development And Design Business is all about designing and developing websites for businesses. Often, this business is clubbed with Digital Marketing business as the two go hand-in-hand.

Why Do I recommend Web Development Business?

Below are some of the reasons why I recommend starting a web designing and development business.

1. Growth Prospects

Despite the fast progress in the digitization of offline businesses, according to survey data, 28% of businesses did not have a website in 2021. However, these businesses are likely to get digital sooner or later especially since the covid-19 hit hard on offline-only businesses

Add to it, 5.4 million new businesses were created in the US itself. Needless to say, any website that chooses to go online does need a website.

This opens up huge opportunities for web development and design agencies to cash in and establish their businesses.

2. Demand For Customization

Brading is an important part of any business. A customized website that is designed keeping in mind the brand image of the company is a great way to make sure that a business stands out from its competition.

3. Low Entry Barrier

Building a website does not require much of an initial investment. As long as you have the necessary knowledge and skills, investing in basic software and hardware is all that you need to get started with your business.

6. Android Development Business

Android, as you know, is a popular operating system for mobile devices. A team of engineers at Google developed Android and open-sourced it for everyone's use.

As an android development agency, you will be responsible for developing android apps for businesses as well as individuals

Why Do I recommend Android Development Business?

Below are some of the reasons why I recommend starting an android development business.

1. Increasing Demand

Android has the lion's share in the mobile market with more than 2 billion devices powered by Android. And despite stiff competition from iOS, the number of Active Android Users seems to be growing each year.

With the growing number of Android Users, businesses are keen on developing an Android application for their business. And this shows in the growth in Android Application Market.

As per Grand View Research, the Android Application Market is expected to grow at an annual CAGR of 13.4% from 2022 to 2030.

This presents a huge opportunity for Android Development agencies to cash in on this growing trend.

2. Low Entry Barrier

The cost of setting up an android development business is also quite low. You just need the right coding skills along with a basic online business setup which includes a high-end laptop and a fast and reliable internet connection.

3. Huge Profit Margins

The huge demand and low initial investment, as well as low development costs, ensure that you can make huge profits as an Android Development Agency.

7. Become Google Analytics 4 Expert

Google Analytics is a software by Google that helps businesses track their website traffic and performance. It’s one of the most popular analytics tools available today.

Google Analytics 4 is the successor of the popular Universal Analytics which is set to be deprecated in July 2023.

As a Google Analytics 4 consultant, you will be responsible for helping businesses set up and use Google Analytics 4 to track their website traffic. You can also cash in by providing Google Analytics 4 training or creating tutorials and courses around the topic.

Why Do I recommend becoming a Google Analytics 4 Consultant?

Below are the top reasons I recommend becoming a Google Analytics 4 expert

1. Huge Scope For Google Analytics Experts

In the Analytics Market, Google Analytics has a market share of a whopping 89%, with the next best, Tableau software managing only a 1.17% market share. Looking at the numbers, currently, Google Analytics has over 4.6 million users and growing.

Now, as I said earlier, Google is set to deprecate Universal Analytics which is being widely used by most businesses. Since Google Analytics 4 is entirely different from Universal Analytics, there is a huge learning curve ahead for Google Universal Analytics users.

The lack of easy-to-understand tutorials, courses, as well as expert consultants isn't helping businesses either. So, there's a huge demand for Google Analytics 4 experts both for providing 1-on-1 training as well as Analytics 4 consultation services to businesses.

Even beyond this switch, there is enough scope to make decent money from Google Analytics 4 consultation as with the Universal Analytics consultants today.

2. Newer Technology

Google Analytics 4 is still new and so other professionals won't have a bigger advantage over you as their experience too will be limited.

3. Low Investment

Another great thing about becoming a Google Analytics 4 Expert is that you don't need to make any major investments. You just need to have subject matter expertise along with a laptop and a good and fast internet connection.

In case you are planning to create courses around Google Analytics 4, you might need a high-quality camera and microphone along with a webcam and screen-recording software.

What Would Happen To This Business After July 2023?

Since Universal Analytics will be deprecated in July 2023, businesses have to make a move to Google Analytics 4 well before the July 2023 deadline.

However, this won't be the end of things for a Google Analytics 4 consultant. Google Analytics is a complex software that isn't easy to master.

That's the reason even Google Universal Analytics consultants are still minting money from their expertise by creating content and courses on the topic.

Likewise, after a complete switch to Google Analytics 4, people will still need consultation and help from Google Analytics 4 experts. So, it is indeed a future-proof business.

8. Become A Startup Advisor

Startup founders in their early stages need the right advice to make sure they maneuver their business in the right direction. Startup advisory is a type of consulting business where you share your knowledge and insights with Startups to get traction in their business.

As a startup advisor, you will be responsible for helping startups with things like devising the right marketing strategy, building the right team, managing funds, and so on.

Why Do I Recommend Becoming A Startup Advisor?

Below are some of the reasons why I recommend becoming a startup advisor:

1. Growth Prospects

According to the Census Bureau's Business Formation Statistics, nearly 5.4 Million applications for new business filing were received in the US.

However, despite the staggering numbers, as of 2021, 20% of startups failed in the first year, 50% within five years, and 65% within 10 years. Needless to say, no founder wants to create a failed startup.

That's when Startup Advisors come into the picture. A Startup advisor can help startups with strategic advice and decision-making to reduce the chances of their failure.

So, if you have experience in the startup world, then becoming a startup advisor is a no-brainer.

2. Get Valuable Insights

Every startup you work with might throw in new challenges. This opens up an opportunity for you to learn more and gain valuable insights that will help you become a better entrepreneur.

3. Networking Opportunity

As a Startup Advisor, you'll get a chance to network with like minded entrepreneurs. It can sometimes also lead to other opportunities, such as being invited to join a startup's board of directors.

Recommended Resources:

1. The Lean Startup: How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses

9. Shopify Development Business

Shopify is one of the most popular platforms for creating e-commerce websites. It offers a back-end interface that lets you easily manage your e-commerce store.

As a Shopify development agency, you will be responsible for helping businesses build and design customized Shopify stores as well as optimize them for conversions.

Why Do I Recommend Starting Shopify Development Business?

Below are some of the reasons why you should consider Shopify development if you want to start a successful online business in 2023

1. Growing Industry

Shopify, with a market share of 19% among all the eCommerce websites in the top million websites, is only next to WooCommerce (WordPress).

And among all the eCommerce websites in the US, it even leaves WooCommerce behind with a market share of 25%.

eCommerce Platform Market Share In USA In 2022

And with the retail eCommerce market size to grow by a total of 56% from $5.2 Trillion in 2021 to 8.1 Trillion in 2026, Shopify is expected to add some good numbers to its existing count of 4 Million+ websites.

Several of these existing news websites will hire Shopify development experts to build their Shopify websites which makes Shopify development to be a lucrative online business idea for 2022.

2. Scalable Business

You can start a Shopify business as a freelancer, and as your business grows, you can build a team by hiring full-time Shopify developers, designers, and other professionals.

3. Club With Other Website Development Businesses

You can start small as a Shopify developer and, over time, expand to other development areas, including WordPress, WooCommerce, Magento, and Prestashop development.

Recommended Resources

1. Shopify Academy

2. Shopify Developer Handbook

3. Shopify Essentials for Web Developers: From Store Setup to Custom Themes

10. Start Affiliate Marketing Business

Affiliate Marketing is a great online business both for SEO experts as well as content marketers. It is one of the best ways to monetize your website and generate passive income.

But before we move ahead let us find out what Affiliate Marketing is and how it works.

What Is Affiliate Marketing?

Affiliate Marketing is a form of marketing wherein you promote a company's product and place a special link called an affiliate link in your blog content, social media post, or video description.

Whenever someone clicks on this link and makes a purchase, the companies pay you a commission which can either be a fixed amount or a percentage of the sale value. Some companies also pay to get leads for their business.

This process is called Affiliate Marketing, and the person who does this form of marketing is called an Affiliate Marketer.

How Affiliate Marketing Business Works

Before you start promoting a company's product, you have to sign up for its affiliate program. Most companies will require you to have a blog before approving you to be part of their affiliate program.

However, some companies don't put forward any such conditions and you can promote their products through social media and email marketing.

Irrespective of whether or not they require you to have a blog, your account is subject to approval.

Some companies approve all the people who signup for their affiliate program, while others have a strict screening process and only accept experienced affiliate marketers with a good track record. 

Approvals also depend on the size of your blog audience and social media followers.

Why Do I Recommend Starting Affiliate Marketing Business?

Below are the reasons why I recommend starting an Affiliate Marketing business.

1. Business Prospects

According to Statista, in the US alone, the affiliate marketing spend is due to reach $8.2 billion, up from $5.4 billion in 2017.

As per another study by Mojo research, in 2020 itself, the global affiliate marketing industry was worth $17 billion, up from $13 billion in 2016.

So, this is a huge industry. No surprise that 31% of US publishers say that affiliate marketing is one of their top 3 revenue sources, while 9% admit it is their top mode of income.

In fact, in 2021, brands allocated a whopping 9% of their marketing budget to affiliate marketing

2. Huge Commissions

In a few affiliate marketing niches, like the SaaS tools niche, the affiliate marketing commissions are huge. The typical starting commission is 20% of the sale value, and it can go all the way up to 100% or even higher in some cases.

And some of these tools even offer recurring commissions giving you a steady income

3. Passive Income

If you are using a blog for affiliate marketing, your income from the affiliate marketing will be passive. This means that you will continue to make money from affiliate product sales even if you go out for a month-long vacation.

Investment Required To Start An Affiliate Marketing Business

To be a successful affiliate marketer, you need money to spend on

1. Domain Name: Usually under $8 to $15 per month (For a .com domain name). You might get it for free with your web hosting for the first year.

2. Web Hosting: $2/month to $100 per month (It depends on the quality of web hosting as well as traffic to your website). I recommend starting with Dreamhost. It should cost you around $35.4 for the first year, along with a free domain name

3. WordPress Themes And Page Builders: You can start with free page builders and themes. Premium high quality themes and page builders start at around $50/year.

4. SEO Tools: $50 to $120/month (Optional but very helpful)

11. Start A Cybersecurity Business

A Cybersecurity expert provides businesses with advice related to information security and cybersecurity.

They help businesses identify risks, vulnerabilities, and potential threats and suggest actions that need to be taken to avoid potential hacks and data leaks.

Why Do I Recommend Cybersecurity Business?

Below are the reasons I recommend starting a CyberSecurity Business to make money online in 2023.

1. Scope Of Business

According to CyberSecurityVentures, Cybercrime could cost the world $10.5 Trillion by 2025.

And what makes CyberSecurity more dangerous for small businesses is the fact that 60% of Small Businesses put down the shutters within 6 months of being hacked.

No Wonder that the Cyber Security Market Size in 2021 was $220.6 billion and is expected to grow at a CAGR of 8.7% to $334.6 billion in 2026.

This growth in the industry opens up opportunities even for new businesses to cash in and generate good income for themselves.

2. High Pay Rates

According to Zip Recruiter, companies are paying up to $146 per hour to Cyber Security consultants, with the average pay rate being $72.65/hour.

3. The Feel Good Thing

Cybersecurity experts are often referred to as “ethical hackers”, and their job is to protect businesses from malicious hacks. 

So, you essentially help people save their business as well as hard-earned money.

Web Hosting is another business that is primarily meant for IT experts. While you can still start a Web Hosting business with no hard skills, in such cases, for the business to be successful, you will have to hire some reliable people who can work honestly for you.

So, let us first find out what Web Hosting is and why it is needed.

What Is A Web Hosting?

A website is made up of several files that your browser downloads to display the website. A web hosting server is used to store these files.

Technically any computer can be turned into a Web Host. However, the moment you turn off your computer, or it turns itself off due to power failure, or if your internet goes down, your website will be cut off from the world wide web.

So, your user's browsers can no longer connect to your computer to download the website files, and hence your website will go down.

It isn't cost-effective for a small business owner to have several backup internet connections and power backups that will lead to minimal to zero downtime.

That's the reason, barring some large enterprises, almost all businesses hire a web hosting server from a web hosting company which makes it a great business.

Why Do I Recommend Starting A Web Hosting Business?

Below are the reasons why a web hosting business is a great idea to start a business in 2023.

1. Growth Prospects

As discussed earlier, a lot of businesses are going online, and the first step to getting online is to start a website. In fact, not just online but offline businesses too are keen on having a website.

As per a survey by Expert Market, a whopping 98% of the small businesses surveyed had a website. A previous study carried out in 2021 had put the figures at 71%, while the one carried out in 2018 estimated it to be 50%.

So, the demand for Websites is going up, and with this, the demand for web hosting servers is also going up.

According to Statista, the Web Hosting business is expected to grow at a CAGR of 12.75% from 2022 to 2027 to reach a market volume of $144.4 billion.

So, if you can start a web hosting company now, you can make quick bucks with this growing business.

2. Low Entry Barrier

It does require a huge investment to start a web hosting business by setting up your own data center that is equipped with multiple high-speed internet connections, cooling systems, and power backups.

However, you can start a web hosting business by getting the reseller hosting plans from the likes of A2 Hosting, Inmotion Hosting, and more.

So, technically you can start with this business by reselling servers from other web hosting companies, which is a business that requires very low investment.

13. iOS Development Business

iOS is a mobile operating system that has been created and developed by Apple Inc. iOS powers all Apple iPhone devices and is the basis for three operating systems developed by Apple, including iPadOS, tvOS, and watchOS.

As an iOS developer, you will be required to develop apps for iOS phones that meet Apple standards and design guidelines.

Why Should You Start An iOS Development Business?

Below are the reasons I recommend starting an iOS Development Business

1. High Demand

As of December 2022, iOS has a market share of 26.98%, which is only next to Android. As for the number of active apple devices, it has grown from 10 million in 2008 and 569 million in 2015 to 1231 million in 2021.

The increasing number of active iOS devices makes sure that brands cannot ignore the iOS apps as a medium for their customers to use their products and services.

2. Lucrative Market

iOS apps, as such, are still lucrative for brands given their 26.98% market share. However, when you take into account the revenue from App Stores, despite the much lower market share, the iOS app market is much bigger than Android.

In 2021, the iOS app market was worth $85.1 billion, as against just $47.9 billion of the Android app market. So, brands who are seeking to monetize their apps through paid subscriptions or in-app purchases are leaning more towards iOS.

3. Low Investment

As with Android development, iOS development requires minimal investment. All you need is a Mac device, Xcode IDE, and an Apple Developer Account to start developing apps for iPhone users.

14. A Paid iOS App On Apple Store

While iOS development is a great idea to start a business in 2023, it is not the only business opportunity in the Apple ecosystem. You can also make your iOS app available on Apple Store for people to use.

You can either build an in-house team to develop the app or hire a freelancer. However, you must make sure that your app is up to Apple standards and meets all guidelines set by the company, as the approval percentage of the iOS app is roughly 60%

To monetize your iOS app, you can either offer a subscription service or charge for in-app purchases.

Why Do I Recommend This Business?

I recommend listing iOS App on Apple Store for the below-mentioned reasons

1. Huge Scope

As we discussed earlier, there are around 1.8 billion active iOS devices in the world, generating a revenue of $85.1 billion which is much more than Android.

The major reason for this is that the average income of iPhone users is much higher than that of Android users. So if you are planning to create a paid app, iOS App should be your first preference.

2. More App Installs

The App Store has about 1.64 million apps. While this number seems quite high, it is much lower than the 3.55 million app count for Google Play Store.

With fewer apps, there is lesser competition when it comes to finding and installing new apps. As a result, the App Store Page View to Install conversion rate is 33.7%, as against 26.4% for Android devices.

More installs can give you an opportunity to earn more money from your mobile application business.

3. Affluent Users

The average income of iPhone users is much higher than that of Android users. So, iOS users are more likely to make a purchase than Android users.

15. Content Writing Business

If you are good at writing and have a knack for creating great content, you can start a content writing business. This is one of the best online business ideas for students, as you don't need any technical skills to get started.

If you can convince people with your words, you can make a living out of this simple business idea.

Why Do I Recommend Content Creation Business?

Below are some of the reasons that make Content Creation to be a lucrative business idea for 2023

1. Core Part Of All Online Businesses

Businesses these days are taking the online route, especially post-pandemic. And whether they choose to start a website, a podcast, a video channel, or an application, there's one thing they need; it's content.

Content is an integral part of all online experiences. Can you imagine a website or an app without content?

Even if it's a YouTube video, you still have to write a script. You also need a Title and Description, which again is content.

Needless to say, with content requirements reaching new highs, the demand for content writers too, is ever-increasing.

2. Great Prospects

As per Upgrad, the content writing industry is expected to be valued at $412.88 million. In such a huge industry, it's usually not difficult to get work if you've got the right skills.

3. Good Pay Rates

As per Upwork, most content writers earn a respectable hourly income of $30-$50, with some highly skilled writers earning as high as $80/hour.

16. Podcasting

If you love sharing your thoughts and knowledge, podcasting can be one of the best online business ideas for you to start in 2023.

You can start your own podcast and talk about topics that interest you, or you can also interview experts and influencers in your niche.

Why Do I Recommend Podcasting Business?

Below are the reasons I recommend starting a podcast

1. Growing Business

In 2020, there were 332 million Podcast listeners worldwide. This figure is expected to reach 500 million listeners by 2024. The over 50% growth in just 4 years highlights the rapid adoption of podcasts.

2. Huge Money To Be Made

Apart from a growing industry, there's huge money to be made for individuals. Joe Rogan, a famous podcaster, has a net worth of $100 million, while several others are making a huge fortune from podcasts.

3. Low Starting Investment

There isn't a huge investment in starting a podcasting business. All you need is a good-quality microphone which should cost you $30 to $150, a pop filter for around $10, podcast recording software, and audio editing software.

How Can I Monetize My Podcasts?

Below are some of the ways you can monetize your podcasts

  • Invite brands to sponsor your podcast episodes
  • Do Paid Reviews of products and services
  • Create a membership program for exclusive podcast episodes
  • Promote your own products and services
  • Sell your eBooks or premium paid courses

17. Social Media Marketing

Are you a copywriter or a social media geek who can create engaging content at scale? If that's a yes, then you can start a social media marketing business and help brands reach their target audience.

And before you think Social Media Marketing is too easy for anyone to start, let me tell you that's not the case. While anyone can create content on social media, you should be highly creative to hit the right chord with the target audience.

Why Do I Recommend Social Media Marketing?

Below are the reasons I recommend starting a Social Media Management Business

1. Growing Industry

According to a report, the social media marketing market grew at a CAGR of 38.6%, from $159.68 billion in 2021 to $221.29 billion in 2022.

The growth in the Social Media Marketing domain is likely to continue at a similar pace, with an expected CAGR of 36.9% to reach a whopping $777.64 billion by 2026.

This huge growth in the field opens up opportunities for Social Media Marketers to generate stable revenue in the coming years.

2. Low Starting Investment

All you need to start a Social Media Marketing business is your laptop, a good internet connection, and some basic knowledge of social media platforms.

The low starting investment makes it easier for anyone to get started in this field with minimal risk.

3. Low Operating Costs

Unlike some other businesses, for Social Media Marketing, the operating costs are low too, as you don't need any costly tools to manage social media accounts. 

A good content scheduling software, and you are good to go.

18. Graphic Designing Business

Are you a creative person who loves using the right side of his brain? If that's a yes, you can make some good money by starting a graphic design business.

The graphic design business is also for people who'd prefer the stability of an offline business and the scalability of an online business.

Why Do I Recommend Graphic Design Business?

I recommend Graphic Design Business for the following reasons

1. Needed By All Businesses

Graphics are an integral part of every business, SMB or large enterprise, online or offline. From logos to business brochures and visiting cards to advertising hoardings, there is scope for graphic designing in almost every field.

2. Scope For Offline Selling

Graphic designing is one of the few online business ideas on this list that can work great even in the offline world. So, you don't have to just depend on online clients but can market your services to SMBs in your locality and city.

3. Growing Industry

As of 2021, the graphic design market size was $48 billion, which is expected to increase to $83.8 billion by 2032 at a CAGR of around 5.2%.

4. Negligible Investment

There isn't a huge investment in starting a Graphic designing business. You just need to pay for premium graphic designing tools like Adobe Photoshop, Illustrator, or Core Draw or maybe some graphic designing marketplaces like Freepik.

You should be able to recover the monthly subscription fees of these products with just a single project.

19. Create And Sell An eBook

If you are a writer, you can also consider writing and selling an eBook. The book can be about anything, including self-help, fiction, non-fiction, recipe books, and more.

You can even collaborate with other writers for the writing books. Alternatively, you can get the eBook completely written by a professional writer with inputs from your end.

So, you don't even have to be a great writer to create an eBook as long as you have a great skill or story to share.

Why Do I Recommend Selling An eBook?

I recommend writing and selling eBooks for the following reasons

1. Growing Industry

eBooks are the most popular digital products in the market today. The global eBook market in 2022 is worth $13.62 billion. It is expected to grow at 3.16% CAGR to $16.08 billion by 2027.

2. Can Be Self-Published

Unlike physical books, you don't need to find a publisher to publish your books. If you want, you can self-publish the eBook and get an ISBN for the same, or you can sell it even without an ISBN.

3. Passive Income Source

eBooks are generally considered to be a passive source of income. You can write the eBook and list it on Amazon or other platforms and continue to generate revenue from it for a lifetime.

Where To Sell Your eBooks?

There are various options for you to sell your eBook. Below are some of them

1. Sell your eBooks on platforms like Amazon, Sellfy, or Blurb

2. Start a WordPress Blog and promote it by growing your audience organically or through paid ads.

3. Create a beautiful Landing Page with reader testimonials and reviews quickly using LeadPages Landing Page Builder and run ads to promote your eBook.

4. If you are a social media influencer, you can leverage the platform by promoting your book to your social media followers.

20. Online Tutoring Business

If you are an expert in a particular subject, you can make some good money by starting an online tutoring business.

This is one of the best businesses for teachers who want to start an online business without investment that can give them some extra part-time income.

In fact, you can start teaching online even without a formal teaching degree. As long as you have great knowledge of something and the passion for teaching others, you can make money with the online tutoring business without much hassle.

Why Do I Recommend Online Tutoring?

I recommend Online Tutoring for the following reasons

1. Growing Industry

Online tutoring has been growing rapidly since the pandemic started. The global online education market is set to grow at a CAGR of 10.17% to become a $238.4 billion industry by 2027. So, there is definitely scope for growth.

2. No Geographic Boundations

Unlike conventional offline teaching jobs, you are not limited to teaching students in your locality or city. Rather, you can teach students from across the seas.

3. Flexible Working Hours

Online tutoring is quite flexible when it comes to working hours. You can choose your time slot as well as the number of hours you'd like to teach. So, you can even start this business part-time with your 9 to 5 job.

Where To Find Students For Online Tutoring?

You can get students for your online tutoring business from various platforms like Tutor.com, Chegg, Simplilearn, and more.

21. Sell Your Online Courses

If online teaching is not your thing or you're looking for a passive source of income, you can monetize your expertise by creating and selling online courses.

However, unlike online teaching, where you just need good teaching skills along with subject knowledge, to sell online courses, you must know what people want to learn and how you can deliver them value.

Why Do I Recommend Selling Online Courses?

Below are the reasons I recommend selling online courses

1. Growing Market

The e-Learning market is a huge industry with a global turnover of $315 billion in 2021. This is projected to increase at a 20% CAGR during the 2022-2028 period to become a $1 Trillion industry by 2028.

E-Learing Market Share 2028

This shows people are keen on taking online courses from the comfort of their homes as opposed to enrolling in offline courses, which opens up the doors to success for online course creators.

2. Passive Income

If you sell online courses, you can earn passive income that gets you money even while you are on holiday with family or on a sabbatical.

3. Unlimited Earning Potential

Unlike online teaching, wherein your earning potential is limited by the number of hours you can work, with online courses, there is no such limit. So you can sell the same course to as many people as you can for unlimited earning potential.

Where To Sell Your Online Courses?

Once the course is ready, it's time to sell it and make money. There are two ways to do that-

1. Sell On Marketplaces

The simplest way to sell your course is to list it on a marketplace like Udemy.

When you list your course on such marketplaces, they will take care of the entire promotion and marketing for you. You just need to worry about creating high-quality content for your course.

On the downside, you will have to share your profits with them. And the charges are steep.

If a user directly buys a course through Udemy, they keep 63% of the course price while you get just 37% of it.

2. Sell On Your Website

Another option is to sell your courses through your own website. This is a great option if you want to keep all the profits to yourself.

To get started, you will need to first create an e-learning website with WordPress LMS plugins like LearnDash that will help you create and sell your video courses easily.

Next, you can either create a Landing page and use Facebook Ads to drive people to your course or start a blog and then create funnels to sell your courses.

The advantage of selling courses on your own website is that you get to keep all the profits to yourself. You also have full control over pricing and can offer discounts if you want to.

Tools Recommended To Create An Online Course

Below are some of the tools that you can use to create your course

1. DSLR Camera And Microphone (For Video Courses): If you're planning to create a video course, then you must use a high-quality DSLR camera along with a Rode NT1 or similar microphones.

However, if you are low on budget and can do with a slightly reduced video quality, you can create a course with your Smartphone along with a cheap Lavalier Microphone. Though, that might affect the overall quality of your course and make it look cheap, leading to negative reviews.

2. Screen Recording Software (For Video Courses): For screen recording, I recommend using Screenflow for Mac and Camtasia for Windows.

You will only need the below tools if you choose to host your own online course

3. Domain Name And Web Hosting: If you want to create a website for your courses, then I recommend creating it on WordPress.

Since WordPress requires a Domain Name and Web Hosting, I recommend getting it from Dreamhost if you are looking for affordable solutions. They also offer a free domain name for 1 year with their hosting plans.

If you don't mind paying more for better quality web hosting, you can try Premium Managed WordPress Hosting from Nexcess. In that case, you can get the Domain Name from Dynadot or Namecheap.

4. Course Creation Software: For building the course, you can use LearnDash WordPress Plugin. I'd suggest going with Thrive Themes if you are looking for a Theme and Page builder as well as a leads collector plugin, in which case Thrive Themes' Thrive Suite turns out to be super cheap.

5. Email Marketing Software: For email marketing and staying in touch with your students, I recommend using Active Campaign.

I use Encharge for Email Marketing. However, I don't recommend it to beginners as it is on the expensive side.

22. Domain Flipping Business

Domain Flipping is a business wherein you invest money to buy good domain names you think people might be interested in buying and then resell them at higher prices.

This might sound like a pretty straightforward business. However, Domain Flipping is not easy.

It requires a lot of research and experience to invest in the domain names that people would be interested in buying at a premium price.

Professional domainers usually have a portfolio of hundreds of attractive domain names. Several of these Domain Names remain unsold for years, and some of them are never sold.

Why Do I Recommend Domain Flipping Business?

Below are the reasons I recommend starting a Domain Flipping Business

1. Huge Scope

According to Verisign, there were 351.5 million registered domains at the end of Q2 of 2022, out of which .com domains were a whopping 161.1 million. 

The data also shows that just the .com and .net extensions saw $10.1 million new domains registered during the second quarter of 2022. That's about 336K new domains registered each day.

With most of the popular and brandable domain names already taken, brands and individuals are willing to pay a premium price to domainers to register the domain name of their choice.

And with so many new domain names registered each day, the demand for premium domain names is ever-increasing. So, investing in the right domain names might just turn into a profitable business.

2. Low Competition

The domain flipping business is not as saturated as other online businesses. This means if you do the research and find the right domain names, there are vast opportunities for you to make a good income.

3. No Technical Or Hard Skills Needed

You don't need any technical or hard skills to get started with the Domain Flipping business. All you need is some research skills and the ability to pick human minds to find domain names that people will be willing to buy at a premium price.

Where To Buy And Sell Domain Names?

Domain Names can be bought for a low price of $10 or less at websites like Namecheap and Dynadot. As for selling them, you can list domain names at Marketplaces like GoDaddy Auctions, Flippa, and Sedo.

23. Website Flipping

Website Flipping is somewhat related to Domain Flipping. But it's not entirely the same.

In Website Flipping, you buy a domain name, build a website on it, get it ranked on Google SERP through your knowledge of SEO, and then sell it at a premium price. You can also buy a pre-built website from a marketplace and then resell it at higher pricing.

To be able to fetch a good price, your website should contain quality articles, and at least a few of these articles should be ranking well on the Google SERP.

Add to it; your website should have a clean and neat backlinks profile and a decent Domain Authority And Domain Rating.

Why Do I Recommend Website Flipping?

Below are the reasons I recommend starting a Website Flipping Business

1. Profitable Business

Website Flipping is a highly profitable business. Websites are usually sold for 25x-40x their monthly profits.

So, if you can buy a Domain and Web Hosting for $35.4 and scale up the website to generate an income of just $300 per month in the next 6-8 months, you should be able to sell it for around $8000 to $12000.

So, if done right, there is a lot of money to be made in website flipping.

2. Relatively Low-Risk Business

The risk involved with Website flipping is minimal. This is because the cost of building or buying a website is usually not high.

And even for the amount you pay, if you are not able to sell your website, you can still make money by monetizing it.

3. Low Barrier Entry

As I said, you can also start small by buying a domain name and web hosting and building the website from scratch. If you handle SEO and content generation all by yourself, your investment in the business will be negligible.

Marketplaces For Buying And Selling Websites

Marketplaces like FlippaFreemarket, and Empire Flippers are some of the best places to buy or sell websites.

24. Sell Your Merchandise On Your Own Website

Starting an eCommerce Store is one of the best business ideas if you are already a small business owner looking to expand your existing business.

However, you can even start afresh if product-based businesses are your thing.

Why Do I Recommend Starting An eCommerce Store?

An eCommerce store is one of the best small business ideas for 2023. And I say this for the following reasons

1. Growing Industry

As per Statista, the e-commerce business across the globe surpassed a mammoth figure of $5.2 trillion and is expected to grow to $8.148 trillion by 2026 with an overall growth of 56% in 4 years.

The growth prospects are even higher in developing countries like India where the e-commerce sector is largely unorganized.

2. Scalability

Apart from the growth prospects, the eCommerce business is highly scalable. You can start with a few products and gradually scale up as your store gets popular.

3. Limited Geographic Constraints

As against the traditional businesses that are usually limited to a city or even a locality, with an online store, you can sell and ship your products throughout the country and, in some cases, even globally.

4. Lower Costs Than Traditional Stores

To get more customers to a traditional business, you need a store in the city center which can burn a hole in your pocket, especially when you are new to the business with not a steady income. You'll also need more manpower to cater to the customers.

However, when you start an eCommerce store, you can get a cheap warehouse on the city outskirts and work with a limited staff.

Recommended Hosting For Starting An E-Commerce Website

As I said earlier, Shopify and WordPress with WooCommerce plugin are two of the most recommended platforms for starting an e-commerce website. Out of the two, Shopify offers its own hosting so you don't have to buy hosting separately.

However, if you are going with WordPress, I recommend going with a Premium Hosting company like Nexcess or WP Engine for starting a WooCommerce Store.

I recommend a premium hosting company for e-commerce sites over cheap ones because if your website becomes inaccessible due to your web hosting going down, it can result in huge losses for your business.

How Much Does It Cost To Start An e-Commerce Website?

Below are the costs that you should keep in mind while starting your e-Commerce store.

1. Inventory Cost

The cost of inventory includes the cost of acquiring the inventory, storing the inventory, and also losses due to unsold inventory.

This directly depends on the size of your business. However, it also depends on the type of products.

Fast-moving items usually have low inventory costs, while slow-moving items can greatly shoot up your storage costs. Likewise, perishable items with lower shelf life will have higher inventory costs.

2. Development Cost

If you choose to hire a developer, your development cost can shoot up to a few hundred dollars or might even go into 4 figures if you are looking for an advanced e-commerce website.

For DIY Shopify and WooCommerce websites, the development cost is usually negligible.

3. Domain Name And Web Hosting Cost

If you're going with Shopify, the hosting cost is included in the monthly subscription price, starting at $29/month. You just have to buy a domain name that should cost you $10-$15 per month.

However, if you're using WordPress with the WooCommerce plugin, you'll have to pay for hosting separately.

For eCommerce websites, I'd only recommend quality hosting, which will cost you anything between $15 to $35 per month for a new store.

4. SSL Certificate

An SSL certificate is required to make sure that your website is secure, and it will cost you around $50 – $100 per year.

5. Payment Gateway Cost

You'll need to pay a transaction fee of 2% – 3% for every sale that you make. In most cases, unless you want a lower transaction fee, there are no monthly or upfront charges.

25. Start An Amazon FBA Business

Amazon FBA stands for Fulfillment By Amazon. It is a very popular business model where you purchase items in bulk and then ship them to Amazon warehouses.

Once the product is received, Amazon takes care of packing, shipping, and even customer service.

Why Do I recommend The Amazon FBA Business?

Below are the reasons I recommend Amazon FBA business to start making money.

1. eCommerce Industry Is Growing

The e-Commerce space is booming with the e-retailer sales figure across the globe surpassing a mammoth figure of $5.2 trillion in 2021. And this is expected to grow to $8.148 trillion by 2026 with an overall growth of 56% in 4 years.

However, Amazon has a huge market share of 37.8% of all leading eCommerce companies in the US. As per Forbes, this market share is likely to go up.

Talking about the global scenario, despite not having a presence in all the countries, Amazon's Global Marketshare is pegged at 13% of overall online GMV with a strong presence in the UK, Canada, India, and several other European countries including Germany, France, Italy, Spain and more.

All this makes starting an Amazon FBA to be a great business idea for 2023.

2. Get More Sales

As per Semrush, Amazon.com got over 2.94 billion visits in November 2022. Even Amazon.in, its Indian wing got 342.2 Million visits.

With such huge traffic, if you can optimize your product to rank at the top of Amazon Results, you can easily push your product to loyal Amazon buyers.

3. Leverage Amazon Shipping

Amazon has one of the largest shipping networks. By starting as an Amazon FBA, you can leverage this network to sell your products to every corner of your country and even internationally.

4. Save Costs

With the Amazon FBA program, Amazon will store your products in their warehouse and also handle the billing and shipping for a small price. This cuts down your recurring expenses for inventory management and billing staff salary.

So, you can start small and slowly scale up as you start generating profit from the business.

Tools Required To Start An Amazon FBA Business

Below are some of the tools that can help you scale your Amazon Store to new levels

1. Jungle Scout

Jungle Scout is a complete Amazon Store management tool that helps you find Amazon products with maximum earning potential, track how these products sell over time, find out competitor keywords, optimize your Amazon Listing for Amazon SEO, track keyword performance over time, and more.

However, to be what stands out for Jungle Scout is the ability to find product manufacturers just by entering the Amazon ASIN number.

Sourcing quality products at the best rates can be the toughest of the Amazon FBA business and Jungle Scout makes it super simple to do so.

2. Seller Central

Seller Central is Amazon's own platform for sellers. You can use it to manage your inventory, process orders, track performance and get access to reporting. 

It also provides notifications about changes in prices and product demand so that you can make essential business decisions quickly and stay ahead of the competition.

26. WordPress Themes And Plugins Business

WordPress Development business is great. However, there are two major challenges with this business that can limit your potential

1. For an individual or even a Startup, custom WordPress Development can shoot up their business setup costs.

2. The income from WordPress development is non-passive. This means the moment you stop working; your income will go back to zero. So, if you go out for a vacation or just take a sabbatical, your income will take a beating.

Here comes WordPress Theme And Plugin Development to your rescue. While a custom theme can help businesses design their blog, WordPress plugins help them to extend the functionality of WordPress

You can create a WordPress theme and plugin for one time and sell it to any number of people you wish. So, you can make the pricing affordable for end businesses, making them sell like hotcakes.

Most themes and plugins are sold for under $100/year, some as low as $40/year, while a custom website can cost you anywhere between $200 to several thousand dollars.

So, it's a win-win situation for everyone.

Why Do I Recommend WordPress Themes And Plugins Development Business?

Below are the top reasons why I recommend starting WordPress Themes and Plugin development business.

1. Huge Scope For Growth

WordPress is the largest CMS in the world. As per W3Techs, it currently powers over 63.8% of all websites using a CMS or 43% of all the websites on the internet, with or without CMS. Shopify is a distant second with a market share of just 5.8%.

To talk about numbers, with 1.8 billion websites on the internet, a 43% market share comes down to around 774 million WordPress websites. Of course, only a small fraction of these websites are active.

Some estimates put this number at 24 million websites. So, although not as huge, we are still talking about some big numbers here.

Since Themes and Plugins can get you the needed functionality for a fraction of custom development costs, most of these active website users prefer using WordPress Themes and Plugins over custom-coded websites.

According to some estimates, the overall WordPress plugin market size is estimated to be around 1 billion, and as per other estimates, the WordPress Themes market size is around 50 million dollars.

And with 500+ WordPress websites getting added each day, these figures are only expected to swell up in the coming years, which opens up a huge opportunity for developers to cash in.

2. Passive Income

You can create a WordPress Theme or Plugin today and sell it to any number of WordPress users, which makes the income from this business to be passive.

However, it's not fully passive, as you still need to release regular features and security updates for your Themes and Plugins.

3. Scalable Business

You can start with a single WordPress Theme or a Plugin and then develop more products as you start getting results.

Where To Sell Your WordPress Themes?

Below are some of the places where you can sell your WordPress Themes

1. WordPress Themes Repository

WordPress has a dedicated Themes Repository. However, it requires you to have a free GPL version of your Theme to get listed there.

Most WordPress Theme companies create a free version of the Theme with limited customization options with paid upsells within the Theme settings for people looking to customize their website.

2. WordPress Themes Marketplaces

Another great place to sell your WordPress Themes is marketplaces like ThemeForest and Template Monster.

These marketplaces have a dedicated audience for WordPress Themes and offer you the advantage of reaching out to them without spending much time or money on marketing.

For WordPress plugins, you can try CodeCanyon.

3. Your Own Website

Of course, you can create your own website too, and market/sell your WordPress Themes directly.

This helps you to keep a bigger chunk of the profits as compared to selling on the marketplace without needing to offer a GPL license for your Theme.

27. Become A Social Media Influencer

Social Media is no longer just a way to connect with friends and family. It is now one important tool for businesses to advertise their products.

Hiring Social Media Influencers who have a large fan following is one of the ways brands prefer to reach out to their target customers for advertisements.

So, if you are a Social Media Junkie and have a large following on Twitter or Instagram, you can get paid big amounts to endorse products from brands.

Why Do I Recommend Becoming A Social Media Influencer?

Below are the reasons I recommend becoming A Social Media Influencer

1. Growth Prospects

With the rise of platforms such as Instagram, YouTube, and TikTok, Social Media Influencer marketing has picked up pace in the last few years.

As per a report, the Social Media Influencer market is set to grow at a CAGR of 32% during the 2020 to 2025 period.

A high CAGR for the industry shows that brands are willing to spend more money on Influencer Marketing, opening up more opportunities for influencers.

2. Opportunities To Work With Big Brands

Social Media Influencers often get the chance to work with some of the biggest brands.

Once you build your reputation and fan following on social media, brands will reach out to you for collaboration opportunities which can be quite lucrative.

3. Get Paid For What You Already Do

If you are an active user of Social Media, then becoming a Social Media Influencer gives you the opportunity to get paid for what you already do.

All you need is to build your fan following and prove yourself as an influencer in order to start getting paid by brands for endorsements and collaborations.

Tools Required To Be A Social Media Influencer

Below are some of the tools that will help you in becoming a successful Social Media Influencer

1. Visual Content Creation Tools: You can use visual content creation tools such as Canva, Adobe Photoshop, and Adobe Illustrator to create stunning visuals for your posts.

2. Analytical Tools: Analytical tools such as Hootsuite and Buffer will help you to track the performance of your posts and see which topics are resonating with your followers.

3. Gadgets: If you are into making videos, then having the right gadgets such as a good-quality camera and, microphone will help you create better content.

FAQs About Online Business Ideas 2023

Below are some of the FAQs about Internet Business Ideas for 2023

1. What Kind Of Online Business Is Most Profitable In 2023?

Any online business that has low investment and high returns along with ease of scaling the business has a higher chance of turning profitable in 2023.

Some of them include BloggingSearch Engine Optimization (SEO)Web Development And DesignDigital MarketingAffiliate MarketingWeb Hosting BusinessSocial Media MarketingSelling eBooksSelling Online CoursesDomain FlippingWebsite FlippingStarting Amazon FBA BusinessDeveloping WordPress ThemesBecoming A Social Media Influencer.

2. What Business To Start In 2023?

What business you'd like to start depends a lot on your skills, interest and investment capabilities. However, in general, digital businesses are a much better and cheaper option than offline businesses if you want to start a business in 2023.

3. What Are The Most Profitable Online Businesses In 2023?

Some of the most profitable online businesses in 2023 include BloggingSearch Engine Optimization (SEO)Web Development And DesignDigital MarketingAffiliate MarketingSelling Online CoursesWebsite FlippingStarting Amazon FBA BusinessDeveloping WordPress Themes, and Becoming A Social Media Influencer.

4. How To Start A Profitable Online Business In 2023?

Each business is different, and so is the planning and execution for each business. However, what matters the most is you pick the right business idea that has scope in 2023 and in the coming several years. 

5. Which Is The Best Online Business To Start In 2023?

The best online business to start in 2023 depends on your skills, interests, investment capacity and several other factors. You can refer to this blog post to see which business idea suits you the best.

6. What Are The Top 10 Online Businesses?

In my opinion, the Top 10 Online Businesses include BloggingSearch Engine Optimization (SEO)Web Development And DesignDigital MarketingAffiliate MarketingSelling Online CoursesIoT Development BusinessAndroid Development BusinessContent Writing Business, and iOS Development Business.

7. What Business Can I Start With No Money?

Businesses that you can start with no money include Search Engine Optimization (SEO),  Freelance Web Development And DesignFreelance Android DevelopmentOffering Google Analytics 4 AdviceBecoming A Startup AdvisorFreelance Digital MarketingCybersecurity BusinessFreelance iOS Development,  Freelance Content WritingFreelance Social Media MarketingOnline TutoringSelling Online Courses, and Becoming A Social Media Influencer.

8. What Are The Cheapest Business To Start?

Some of the cheapest businesses to start that are also profitable include BloggingSearch Engine Optimization (SEO)Web Development And DesignAndroid DevelopmentDigital MarketingiOS DevelopmentContent WritingSocial Media Marketing,  Online Tutoring, and Becoming A Social Media Influencer.

9. Can I Start A Business With No Money?

Yes, it's possible to start a business with no money. Several of the ideas on this list requires no investment.

10. What Is The Safest Business To Start?

The safest business to start will be the one that requires low initial investment and high success rates. Some of these businesses include BloggingSearch Engine Optimization (SEO)Web Development And Design, Digital MarketingContent Writing, and more.

11. What Are The Unique Business Ideas In 2023?

Some of the unique business ideas include IoT DevelopmentCreating And Selling SaaS-based softwareOffering Google Analytics 4 AdviceCybersecurity Consultancy, and Website Flipping.

12. What Are The Best Business Ideas For Women In 2023?

Some of the best business ideas for women in 2023 include BloggingSearch Engine Optimization (SEO)Digital MarketingAffiliate MarketingContent WritingGraphic DesigningSelling Crafts and more.

13. What Are The Best Business Ideas For Students In 2023?

Some of the best business ideas for students include BloggingSearch Engine Optimization (SEO)Web Development And DesignDigital MarketingAffiliate Marketing, Content WritingSocial Media MarketingOnline TutoringSelling Online Courses,  and Becoming A Social Media Influencer.

14. What Are The Best Small Business Ideas In 2023?

Some of the best Small Business Ideas include IoT DevelopmentCreating And Selling SaaS-based softwareWeb Development And DesignDigital MarketingCybersecurity ConsultancyWeb Hosting ReselleriOS DevelopmentAndroid DevelopmentStarting Amazon FBA BusinessStarting An eCommerce StoreDeveloping WordPress Themes and more.

15. What Are The Best Startup Business Ideas In 2023?

Some of the best Startup Business Ideas in 2023 include BloggingIoT DevelopmentSearch Engine Optimization (SEO)Creating And Selling SaaS-based software, Android DevelopmentDigital MarketingAffiliate MarketingCybersecurity ConsultancyiOS DevelopmentSelling On Amazon, Starting An eCommerce Website, and Developing WordPress Themes.

Online Businesses are the need of the hour. However, finding profitable online business ideas is the most difficult part.

In this article, I have listed some of the best online business ideas for 2023 that are sure to give you good returns.

If you ask me, I'd rate Blogging and Affiliate Marketing over other business ideas on this list. However, not everyone has the same skills and interests. So, you can pick the business idea that works best for you. 

So, what are you waiting for? Go ahead and start your own online business today!

About Aquif Shaikh

Aquif Shaikh is a Blogger and Web Hosting Expert from Mumbai. He loves writing, traveling, and sharing his knowledge and ideas with the world. At Blogging Ocean, he writes about blogging tips, web hosting tips, content marketing, online business, and SEO.

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  1. Hi Aquif,
    All these are really great profitable online business platforms.
    But as a new blogger I can say blogging might be the best one. Although it takes time and patience but it is interesting for me. I am also wanted to a youtuber in future.
    Thanks for sharing bro.
    Cheers

    1. Indeed!! That’s the reason it is on the top of my list.

  2. Great write-up boss,
    Pls how can I get started in blogging. The whole thing sounds lovely to me, but I don’t know how I can go about it.
    Pls advice me.

    1. Hi George,

      For starting a WordPress Blog, you can refer my guide .

      Apart from this, you will also have to learn atleast basics of SEO if you want to rank your blog all by yourself. For the SEO basics, you can refer my article . That will give you an idea about how you must write your articles at the blog.

      If you need any help from my end for setting up your blog, do let me know. You can get in touch with me through Contact Us page of this blog.

  3. Aoa Aquif! Hope you finding this text in the best of health. I need some information with reference to blogging and the SEO Basic Skills that are going to be required for ranking purpose (as I’ll be doing everything myself) . Please Help!

    Thank you in advance!

    1. I’d be glad to extend all the help from my end, Muhammad Saim. You can get in touch with me through this contact us form.

  4. Hi Aquif, The whole blog sounds lovely! I started an YouTube channel, but I felt undecided how to increase views? And one more question (most important to me), how much money I can earn with per 100000 views in India? I’d be glad if you kindly reply my queries. Thank you.

    1. Hi Asim,

      Getting traffic to your YouTube channel is a vast topic which cannot be explained here. I suggest that you read few articles on Keyword Research. Using the right keywords in YouTube Title and description is very important. Apart from this, you should also try to use a title that will make people curious to click on it.

      As for the earnings part, generally with viewers from India, you can make around $800-$1000 per million views. Earnings will be more for viewers from US and UK.

  5. Hi Aquif

    Another business that I was planning to start is offering translation services along with writing articles. Can we do both these on one site? Please comment on this and also tell if we can display advertisements or affiliate marketing etc. on this kind of site too.

    Regards
    Aamir Khan

    1. Hi Amir,

      You can offer both translations as well as writing services on your website. As for advertisements, I personally won’t recommend it if you are promoting personal services. Imagine, a person planning to buy your writing gigs sees an advertisement for a Writing Gig from Fiverr. You’d earn few cents for the click, but you will lose the client.

      As for affiliate marketing, you can promote, but I don’t think it would gel well with the kind of website you are planning to start.

      1. How can I start to my business at very initial and which business suitable and easily handle by a women with low risk?

        1. It totally depends on your skills what business is suitable for you. Speaking in general, businesses with a low investment carry minimal risk. However, proper planning can minimize the risk in any business.

  6. I was thinking of online food delivery services. How can one begin to do that.

    1. That’s a nice idea. However, hard to give out an action plan here. Maybe you can brainstorm with your friends?

  7. sir,i want to make a website so should i go for godaddy or pls suggest me somewhere else.
    thanks.

    1. Amardeep, I highly recommend getting hosting from A2 Hosting. This blog is currently hosted on A2 Hosting.

  8. Hey Aquif Shaikh ,

    Excellent post with Fab-work. Your hard work & researches are truly appreciable.

    Glad to say that you have introduced the best profitable online business ideas. You have presented each business ideas in an impressive way along with all the crucial information that are true enough to understand & educate the readers.

    Your all the business ideas are great and undoubtedly provide good benefits but According to me your business ideas about Blogging, starting a youtube channel, Android & Ios development, web development business, content writing business, Affiliate marketing business, SEO business, Graphic designing business, Social media marketing, Online tutor, Domain & website flipping, Social media influencer, Resume writer, online proofreader, Website & application tester, Online fitness coach, Blogger outreach specialist and online translation business are really fantastic ideas. Adopting and Using these business ideas will be a great helping hand and will helps user to get good profit and astonishing outcome.

    As this post is really helpful especially for those who are willing to start an online business.

    Eventually thanks for sharing your knowledge, ideas and such a fantastic post.

  9. Hi Aquif Shaikh
    Good Suggestion
    If you want new Business Ideas

  10. Do you prefer using and page builder for the blog?

    1. Rajiv, I currently use Thrive Architect.

  11. Nice Blog. Your information is really informative.

  12. Very nicely written! Superlative quality. It really gave me some topics to think about that even personal development and business books couldn’t.
    Although I graduated from university in marketing, my skills are in management. I have a hard time getting along with marketing, I don’t know how we can become friends one day.
    Anyway, I will continue to read this inspirational blog for me!

    1. I am glad that you found the article to be useful, Elena. Keep reading for more.

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