With unemployment on the rise this year and hours being cut, we are all looking for alternative ways to bring in additional income. If you are thinking of starting your own business, but you are unsure what route to take, you have come to the right place. We have listed start-up ideas that will hopefully inspire you to start your own and earn that extra income you need. Take a look at our list below.
Online
Internet Business
More and more people are looking to create a first, second or third income stream from building a business on the internet. There are online platforms that can help you to establish your own internet-based business to generate a six or seven-figure income from $100,000+. You can even look at consultancy services that offer do-it-for-you programs.
YouTube
In recent years YouTubing or Vlogging has become increasingly popular, with many ‘Youtube stars’ earning on average roughly ÂŁ1750 per one million views. If you have a hobby or an interesting topic and don’t mind being in front of a camera, then this might be the right route for you. As YouTubing is so popular, it can be hard to build up your page so don’t expect instant results. You will need to be consistently posting videos and engaging with comments. Once you gain enough traction, you may get approached by companies asking you to promote their product. Although this could be a good money maker, ensure that you believe in the company and product you are advertising and that it is relevant to your branding.
Blogging
If you are camera shy but still want to talk about your hobby or lifestyle etc. then blogging is the way forward for you. Blogging was the first business model to grace the internet and it is still going strong today. Create your website on a platform such as Wix or WordPress and make sure you have a good understanding of analytics, keywords, search engine ranking and online marketing etc.Â
Virtual Assistant
If you have the skills of being an assistant, why not offer your services online as a freelance virtual assistant. With more companies making their employees work from home this year, now could be a good time to research companies that might need help with their admin. Once you build up a rapport and your workload becomes too much, you could expand your business by either employing someone or outsourcing your extra work. Or you can Run A Successful Virtual Assistants Business while helping other business owners you can establish other income streams and not just rely on just one!
Writer
If you think of yourself as quite the writer, then think about becoming a freelance copywriter. Earn money, writing blogs and website content. It would help if you had a good level of English be able to come up with content ideas. You could even become a ghostwriter for authors and corporations that will pay anything from $25,000 to utilise your talents.
Social Media Manager
Every business should be on social media, but when businesses are busy they can lack their social media presence. This is where you could come in and offer your services managing their social media. This means posting, following marketing campaigns and knowing who the current influencers are etc. You need to have good knowledge of all social media platforms.
Business Ideas
Make and Sell
There’s always a new idea to be had when it comes to the world of shopping. As the world evolves- so does the need for specific products. Having the skill and creativity to make new things, you can turn your hobby into a business. Venture Capital represents brands and investors. You never know how much your idea for consumer products VC could earn you in the future. Start off by selling your products online on websites such as Esty, Not On The Highstreet, local flea markets, or advertise your e-commerce on social media. Make sure to take some time to do some research into the rules that apply to the products you’re trying to sell.
If you find yourself as a crafter, then why not sell your creations. With the right marketing and selling platforms, you could turn your hobby into a business. There are many online sites you could sell from such as Etsy or Not on the high street or you coils sign up for local markets and sell your goodies there. Make sure you do research on what rules apply to your product when selling.
Franchise
Franchising is good as someone has already done the business model for you. Franchising is when you buy and pay fees to use an existing companies business model, trademarks and systems. Popular franchises include McDonald’s, KFC, Pizza hut, etc.
Open A Coffee Shop
If you love coffee and have experience as a barista, then opening a coffee shop might be right up your street. For a lower risk option, purchase a coffee shop that already exists or a franchise one. If you are up for the challenge, then consider opening your own coffee shop. This will take a lot of research and educating yourself about running a barista business. When opening a coffee shop, you need to think about more than just coffee, how you take money is very important. With everything no becoming cashless, you need to make sure you are prepared with a wireless tap to pay and apple pay card machines, this company shows a good variety of what your business can choose from.
Dog Walker
Although many people will be working from home, they might not find the time to walk their dog. If you are good with animals and enjoy the outdoors, then this could be good for you. Make sure you have the necessary insurance in place.
Real Estate Investing
There are all kinds of avenues available to those that are considering real estate as a likely method of investing in the future. And why on earth shouldn’t you? This is one way that millionaires around the world will agree to build a massive fortune quickly. Many entrepreneurs and executives are focused on real estate investing around the world for its apparent opportunities which include global citizenship, tax planning, superior education and healthcare.