Top 10 Online Business Ideas to Explore in 2022
1. Launch a Dropshipping Store
According to some of the latest projections, global retail e-commerce sales will reach $5.4 trillion this year, which goes to show that online shopping has become one of the most popular online activities in the world.
This online business model is pretty simple: you, the retailer, purchase the items you sell on your website from a third-party manufacturer/supplier and have it manage the order fulfillment process.
When it comes to dropshipping stores, picking a great product is key. This is where you need to do extensive research: analyze the latest trends and check out popular websites within your niche.
2. Start a Print-on-Demand Business
Launching a print-on-demand online shop is another low-cost and low-risk business idea. That’s so because here you work with a supplier of while-label products who customizes those products with your own designs and charges you after you make a sale.
Aside from beginners, the print-on-demand model is also suitable for experienced business owners who want to test a new business idea or product line minus the risks associated with buying inventory.
There are many print-on-demand services for creating unique products, but the most popular ones are, without any doubt, Printful (best for apparel), Gooten (collaborates with international vendors and dropshippers to print on products), and Printify (offers more than 300 products to print on).
3. Sell Your Crafts Online
The coronavirus pandemic and all the restrictions it brought into our everyday lives have made time and space for many of us to explore our creativity and (re)discover the activities that bring us joy.
Handmade clothing, accessories, jewelry, soaps, candles, picture frames, and furniture — these are only some of the many items you can sell online. You can set up your own online shop on a reliable website-building platform like Shopify, Wix, or Squarespace.
If you don’t want to bother designing a website for your crafts, you can sell them on online marketplaces like Etsy, Amazon Handmade, Storenvy, eBay, and iCraftGifts. Another good option is to sell your handmade products wholesale to other businesses.
When setting your prices (retail or wholesale, depending on your business model), you must take a close look at your numbers, i.e. your costs. Your prices have to be high enough to cover all your costs (variable and fixed) and factor in a profit.
4. Become a Freelance WordPress Developer
5. Start a Food Blog Focusing on Air Fryer Recipes
This piece of cooking equipment allows us to enjoy our favorite meals without using any oils, so it’s no wonder there are over 2 million monthly Google searches for ‘air fryer’ and more than half a million monthly Google searches for ‘air fryer recipes’ in the US.
If you’re a professional chef or recipe developer, starting a food blog with a focus on air fryer recipes might be perfect for you. You’ll get to experiment with the oil-free cooker and help your readers eat more healthily.
Okay, all of this sounds awesome, but how will I earn money? You can monetize your food blog via affiliate marketing, Google ads, and sponsored content. If your blog grows to become a huge success, you’ll have the chance to drive revenue by implementing a paid subscription model.
6. Launch a Podcast
Podcasts have become one of the most popular types of web content, especially among young folks. Experts predict that there will be 140 million podcast listeners in the US in 2022. Unsurprisingly, that number is expected to grow in the near future, hitting 164 million in 2024.
When starting a business, it’s essential to be aware of the legal considerations. This includes choosing the proper business structure, obtaining the necessary licenses and permits, and complying with any regulations that apply to your business.
It would help if you also had a solid understanding of contract law, as you’ll likely be entering into contracts with customers, suppliers, and other businesses. Failure to comply with the terms of an agreement can result in legal action being taken against you.
When it comes to setting up an LLC for your business, filing an SS-4 for LLC correctly is one of the most critical steps. This document gives the IRS all the needed information to process your application and assign an EIN to your business.
It’s also important to understand intellectual property law if you’re planning on creating a new product or service. This includes trademarks, copyrights, and patents. Failing to protect your intellectual property can result in someone else stealing your ideas and making money from them.
The Best Businesses to Start in 2022:
While anyone can start a podcast, it takes a little work to make it successful. You need to create high-quality content that people will want to listen to, and you also need to market your podcast effectively. However, if you’re willing to put in the effort, podcasting can be a great business to get into.
Speaking about a topic you are an expert in is a great way to establish yourself as an authority figure. This can lead to other opportunities, such as consulting or speaking engagements. You can also generate income through sponsorships and advertisements.
There are also many different types of crafts you can make, so ensure you choose something that you’re passionate about. If you’re able to create high-quality products, you’ll be able to charge premium prices and generate a good income from your business.
Like any other business, it takes time and effort to sell handmade crafts successfully. It will help if you put in the work to market your products and build up a loyal customer base.
You’ll need to invest time and money into marketing your store and building up inventory. Still, once you do that, you’ll be able to generate a good income from your business. Earning money from e-commerce is a great way to have the lifestyle you want while also being your boss.
If you have a creative mind and good editing skills, you can start your own video editing business. You can offer your services to companies or even create your own YouTube channel. You’ll be well on your way to success if you can stop people in their tracks and force them to pay attention when they see one of your videos.
If you live in an area with many rental properties, you could start your own property management business. This is an excellent business for those who are organized and have experience dealing with tenants.
As a property manager, you’ll be responsible for collecting rent, maintaining the property, and dealing with any repairs or maintenance issues. You’ll also need to screen potential tenants and find new tenants when old ones move out.
One thing to consider when setting up a property management business is scheduling. Knowing when you’ll be available to show properties or deal with maintenance issues is essential to keeping your business running smoothly. To this end, using the right scheduling software solutions will be key to your success.
The great thing about this business is that one can do it entirely online. You can promote products through your blog, social media, or email marketing. As an affiliate marketer, you’ll earn a commission on every sale you generate.
Sell Online Courses
There are a ton of online course platforms that you can use to create and sell your courses. This is a great business to get into if you’re an expert in a particular subject. The great thing about online courses is that one can sell them to people worldwide. You need to create high-quality content and market your courses effectively.
If you’re able to create a successful online course, it can be a great way to generate a full-time income. You can also offer courses for free as a lead generation tool for other (future) businesses.
Social Media Management Service
No company nowadays can deny the importance of social media. It’s a powerful way to connect with customers and create a brand identity. However, most businesses don’t have the time or resources to manage their social media accounts effectively. This is where you come in.
As a social media manager, you’ll be responsible for creating and managing social media accounts for businesses. You’ll need to create content, engage with customers, and grow the following for each account.
Writing and distributing a newsletter is a good way to organically build a community of like-minded people, often around a specific theme or idea. Newsletters can be sent weekly, bi-weekly, monthly, quarterly… You decide! The aim is to pack them full of interesting and engaging content, announcements, offers, and insight.
Some business ideas will never go out of date. The town market is the original market. Running a market stall is a great way to build a personal relationship with your customers, build a reputation for selling high quality products, and meet like-minded sellers.
Do you already sell small-batch peanut butter? Or crocheted hats? Or tasty bottles of hot sauce? Consider appearing at a local market stall so that customers can put a face to the brand.
Alternatively, with plenty of markets open around London, and with the cost of hiring a stall starting at around £15-£20 per day, becoming a stall holder could be the way to take your business idea from bedroom fantasy to real-world reality.
Become a streamer
Becoming a streamer is slightly different to becoming a YouTuber. Whilst YouTube largely hosts standalone, edited videos, streaming sites such as Twitch allow individuals to live stream an online performance. A significant number of streamers livestream video game footage.
Investing into a business at seed-stage isn’t the preserve of venture capitalists. Through websites such as Crowdcube, you can pledge some money to a startup that will pay out, in some form, upon success and growth.
Whilst conventional investment into the stock market can occasionally feel impersonal and intangible, investing into a crowdfunder offers greater proximity to the founders and their product. Take a look at some companies currently crowdfunding here .