Many professionals are exploring alternative career options. If you are one of them, you may have realized that, to enable the freedom and flexibility you need in your career, your best next step is to invest in starting a business for yourself.
If you’re an aspiring entrepreneur and want to start a profitable business, there are many good business ideas to make more money. So how do small business owners like you ensure that they choose the right business ideas to make more money? If you’re ready to take the next step in your entrepreneurial journey, here are 9 tried-and-true business ideas to make more money and get your wheels turning.
9 Good Business Ideas to Make More Money
1. Educational blogging
Were you amazing at making study notes in school, and want to use those skills to fill the demand for educational content on the internet? Why not start a business where you can help people around the world with their educational needs? Blogging is just one of the many popular ways to earn money online. Whether it’s online courses, news and opinions related to your field, resources for college students, or lesson plans for parents who homeschool, there is a huge demand for digital content.
If you want to monetize your blog by using ads, affiliate sales, dropshipping, or selling your own products and services, you’ll need to learn the fundamentals of SEO to build a reliable source of traffic and ensure you’re ranking for the right keywords so that people can find you when they search for your services online.
Some ways you could make an income include, but are not limited to:
- Using Google AdSense
- Starting an affiliates program
- Creating webinars
- Offering online courses
2. Running your own agribusiness
If you have a passion for farming, running your own agribusiness will allow you to work with farmers on their land and livestock. Before you get started, determine which products and services you want to provide. You might need some financing or a loan, as well as specific operating licences depending on your local laws. Establish a physical office location where you can store your materials, tools, and machinery, but most of your work will require visiting clients in their homes.
Read Also: How to Run a Successful Small Business
3. App development
Green apps are applications that focus on addressing environmental issues. These can include products like carbon footprint tracking apps, ride-sharing apps, fuel calculators, and remote power apps, among many others.
Whether you have a notebook full of great ideas for green apps, or just want to use your expert app developer skills to help visionaries bring their ideas to life, green app development is a field with many opportunities for small businesses.
You will probably need to have a degree in software engineering or a related field and be proficient in at least one of the most common programming languages in order to score the opportunities of your dreams.
4. Auto detailing equipment
You may not need a four-year degree, but starting your own auto detailing business takes more than just a knack for cleaning cars. You’ll need to get some technical training and hands of experience in an auto detailing shop so that you have the skills, knowledge, and cash flow to branch out on your own.
A good way to start your business without investing a ton of money upfront is by starting out as a mobile business rather than renting your own garage location. Then, as you build up your cash flow and a solid customer base, you’ll be able to invest in your business with confidence.
Auto detailing equipment like pressure washers, hot water extractors and towels can cost a lot of money. Be sure to register your business and open a business bank account to keep your finances sorted.
5. Real estate businesses
Real estate businesses can be a huge money maker, but there are many hoops to jump through if you want to create your own brokerage firm. You will need to gain approval from your local real estate council in order to obtain the real estate broker designation, and you will also need to submit an application to the real estate board.
It’s a good idea to hire an accountant to help you handle your multiple bank accounts and keep track of transactions in accordance with the laws and regulations.
6. Rent out a room in your home
Do you have an extra room in your house that’s not being used? You can rent it out as a side business. The bigger the room and the more amenities you can offer (i.e. a private bathroom and kitchen), the more money you will be able to make.
Think outside just renting a bedroom—many people are working from home and don’t have the space to create a home office in their own place. You could offer a home office space and set hours for when it will be available so your space is still yours when you want it.
Read Also: Types of Indirect Taxes: Advantages and Disadvantages
7. Healthcare consultancy
Are you an expert in healthcare law, with a bachelor’s degree in a related industry like public health, business or nursing? Healthcare consultancy businesses give advice to healthcare organizations on a variety of issues dealing with public health. You can either work for an existing firm or create your own. There are even more opportunities in this field for people with a master’s degree in business administration or public health.
8. Uber driving
You may not have thought about this, but Uber drivers are saving the world one step at a time! It’s an easy career to start and do. As an Uber driver, you’re encouraging ride shares, and ensuring people in your area are getting to where they need to be, safely. You’d also be delivering food, which would reduce fuel emissions.
9. Host a Group Program
Want to work with a community of clients or customers all at once? Consider offering a live group program that has a distinct start and finish.
Virtual group programs have exploded since the start of the pandemic, with online book clubs, social clubs, and fitness challenges quickly becoming viable business models. When marketing a group program, speak to how a group environment has more camaraderie (and is often more cost-effective) than working with someone one-on-one.
Pro tip: If your online course idea isn’t fully baked yet, test it as a group program or live workshop series first. This helps you work out the kinks and see firsthand what customers actually want and need and how they implement the tools and ideas you present to them. It also saves you from building and launching an online course no one wants (which I have done before – trust me, it’s not fun).