Profitable Online Business Ideas To Flourish In Your Business Venture
“Business opportunities are like buses, there’s always another one coming”
This was a great quote stated by a popular business magnate, Richard Branson. Sticking to the quote, entrepreneurs always look for a better opportunity to improve their businesses. In recent years, the proliferation of the internet and technology has created a lot of opportunities for entrepreneurs. Also, the customers are enjoying the benefit of getting their job done with just a few clicks on smartphones.
According to a recent statistic, it is proven that 7 among 10 consumers prefer shopping online over visiting a physical store. So, I hope this data is more than enough to realize the significance of utilizing online platforms to enhance your business. Being an entrepreneur, your ultimate goal is to earn massive profits. For that, it is very essential to cope up with current digital trends. So, no matter what your business is, developing an online platform is a convenient and easiest way to grow your existing business. Also, it gives a wider scope to promote your business.
Are you an avid entrepreneur looking to expand your business by building an online platform? If your answer is yes, then you have landed in the right place. In this blog, I’ll let you know effective online business ideas to expand your existing traditional business.
Online business ideas to prosper in your business venture
Set Up An Ecommerce Business
Generating profit in business is pretty challenging, especially when the entrepreneur is just starting out. So, to outpace the competitors in the market, the business owners have to make smart investments. And, to make such smart investments that help for instant sales and massive profit, the proprietors should consider using the internet platform. This is because, with millions of people using the internet daily, it is natural that people tend to buy the online product that catches their eyes. Therefore, building an ecommerce platform is always a good idea as it helps several businesses to earn more and keeps your business on top of the trends. Being an entrepreneur, how beneficial it is to start an ecommerce business?
Why ecommerce business?
- Setting up an ecommerce store not only requires lower cost than brick-and-mortar setups, but it also allows you to expand your business globally.
- When it comes to ecommerce business, you can opt for personalized selling options like add to cart, multiple payment options, personalized product display option, attractive web page/app, etc. Also, you can substantially reduce the staff requirements for your business.
- When you have an ecommerce site, you can get the benefit of gaining positive reviews from your customers. As these reviews are publically available for everyone to view, you can easily influence your new users to get converted as customers. Keep in mind though, that not all customers will be happy and that protecting yourself in every possible way (like setting up an entity) is critical.
Venture into online real estate business
When it comes to buying and selling properties, being the finest real estate agent is not sufficient these days. So, if you think that you are a highly skilled real estate agent, then you are not in the trend. Do you know why? According to research, averagely among 3 in every 4 property buyers use internet platforms to find their desired property. Therefore, this growing trend not only helps real estate agents to upgrade their businesses but also ensures reliability for realtors.
Seeing the immense popularity of the online real estate marketplace, many real estate agents are looking to launch their own online real estate platforms. If you are a popular real estate agent, you can definitely consider building an online real estate platform. How does an online real estate platform help real estate agents to earn more clients?
Why can you Start an online real estate business?
- If you build an online real estate platform, you can substantially reduce the time of meeting your clients and convincing them to buy/sell.
- With an online real estate platform, you can have a wide scope of getting more clients without having a personal meeting with them.
- As online platforms play a major role in identifying the location of customers along with their preferences, you can easily know the choices of the customers. So, the sellers can easily show the best property for his or her family depending on their location preferences, interests, etc.
Build a taxi booking app
Being a cab owner, it is essential to retain customers as they are crucial assets for your business. Nowadays people consider using taxi apps to book their rides. Due to this, taxi booking apps have become the talk of the town and are highly preferred by commuters. So, this is the right time for cab owners to expand their taxi business by launching their own taxi booking apps like ola and uber. Being a cab owner, how does it benefit you by having a taxi booking app?
Why can you build a taxi app?
- By building a taxi booking app, you can easily track the activities of your drivers. So, when the driver logouts the device, you can automatically calculate their driving time.
- By having a taxi booking app, you can allow your customers to know the ride fare without any interactions. And, as you have proper systems to calculate the ride fare, there is no chance for customers bargaining the cost.
- With a taxi app, you can easily track the ride history, total kilometers, driver pay, customer fare, etc. So, this automatically reduces the time taken to maintain all these details.
Start an on demand service platform
We live in a world where people are busy with their smart devices and trying to find the simplest and easiest way to fulfill their daily requirements. If are you an entrepreneur trying to gain a huge userbase for your versatile business services, then you can consider launching your own on-demand app/website.
This is because, on demand service apps like Urbanclap, Airtasker, and Taskrabbit are already gaining widespread popularity among users. So, building an on demand service platform is definitely a smart investment. How is it helpful for entrepreneurs to launch an on demand service app?
Why can you launch an on demand service app?
- By launching an on demand app, you can expand your business service and provide multiple services to your customers.
- By having an on demand app, you can get the database of the users. So, you can easily identify their requirements and provide service accordingly.
- With an on demand service app, you can instantly track the activities of service providers and clients without contacting them.
Develop an online healthcare platform
In this pandemic situation, people have a fear of visiting hospitals for regular consultations. In the same way, doctors are getting busy treating Covid patients where they do not find time to treat their regular patients. So, building an online healthcare platform helps them to get virtual regular consultations without any hassles.
Nowadays, the health care industry is constantly evolving where technology plays a big role in this sector. Due to this growing trend, healthcare apps like teladoc and practo are gaining popularity among users who are looking for online doctor consultations. And, on the other hand, looking from a business perspective, online healthcare systems help doctors improve their service exponentially. How does an online healthcare platform help doctors to improve their services?
Why can you build an online healthcare platform?
- By building an online healthcare platform, you can manage the time of consulting your patients. Also, you can have an option for accepting/rejecting the appointment request.
- With an online healthcare platform, you can have the benefit of getting patients all around the world.
- Launching an online healthcare platform is highly cost-effective. This is because, by having an online healthcare platform, you can reduce the cost of maintenance of your physical location, staff salary, and other miscellaneous expenses.
Build a restaurant reservation app
If you are a restaurant owner, your ultimate goal is obviously to bring more customers to your restaurant. Handling all the phone calls, manually conveying people regarding availability of seats, taking orders, answering customer queries, and managing cancellations will be really a tedious process. And, at times, schedules could get overlapped due to manual errors. This is where you need to have a restaurant reservation app for your business. How is it helpful for restaurant owners to have a restaurant reservation app?
Why can you launch a restaurant reservation app?
- With a restaurant reservation app, you can effortlessly manage customers’ data and can update them with relevant information regarding discounts, special offers, and impressive deals.
- By building a restaurant reservation app, you can help customers to check availability and book their desired tables. Also, you can answer the common questions asked by the customers with the help of a FAQ section.
- By having a restaurant reservation app, you can allow customers to rate and review your restaurant. This indeed helps to increase the chances of getting more customers for your restaurant.
As a forestated, running an online business opens the door to reach customers from all corners of the world, and gives you the scope for massive growth. I hope I’ve spelled out the smart online business ideas that you can pursue without quitting your regular job. So, now it’s the right time to get out of your fear and start a profitable online business in your spare time. Are you still looking for a few more lucrative online business ideas? If yes, let us know in the comments.
Rachael is a content marketing writer, SEO Expert, and Digital marketing manager at Appkodes, where she researches, analyzes, and educates brands making more revenue.
She specializes in writing technical content and creating resounding SEO strategies to increase traffic and conversions of visitors.