Online Business Ideas: 27 Profitable Business Models for 2024

 Online Business Ideas: 27 Profitable Business Models for 2024

         

Would you like to get started online and build your own business?

Then watch out:

In this article I have collected 27 profitable and serious business models for you.

I am sure that you will find exactly the business idea that suits you in this list!

1. Start a blog

In my opinion, having your own blog is the best, easiest and safest way to gain a foothold in the online world in 2023.

The technical implementation is pretty easy thanks to WordPress, so you can focus on your content without restrictions. And here you are really completely free. There are guaranteed readers for every niche and every interest who have been waiting for you.

But is a blog also a business?

Definitive!

There are countless different ways to make money from a blog . In addition to affiliate marketing (more on that in a moment), you can also advertise (e.g. via Google AdSense or Ezoic) or offer guest articles for a fee.

Digital products such as e-books or online courses can also be sold via a blog.

Advantages

• Any topic is suitable for a blog
• No seed capital required
• Little technical know-how required
• Flexible monetization options
• High income possible
• Ideal to start online

Disadvantages

• Competition for popular topics very high
• The first visitors are difficult to get

2. Become a creator or influencer

Being an influencer or content creator offers many different ways to build a business that generates reliable revenue.

In addition to paid cooperations, you can do affiliate marketing on your own or even sell products such as e-books and online courses to your followers.

Advantages

• No seed capital required
• You only need your smartphone
• Various ways of monetization
• industry of the future
• High income possible

Disadvantages

• competition very high
• No income without followers
• New content regularly

3. Sell online courses

Online courses are one of my favorite business models.

Why?

Once created, you can sell an online course as often as you like. This offers endless possibilities for scaling. In addition, online courses can sometimes sell for €1,000 to €5,000 or more.

You can really make your own course out of every topic. Learning from knitting to how to handle babies properly or successfully milking a Greek mountain goat.

Advantages

• Any subject suitable
• No seed capital
• No own website necessary (Elopage)
• Very decent selling prices possible
• Any scalable

Disadvantages

• range required
• Must have experience in online sales

4. Open online shop

Having your own online shop is the supreme discipline in e-commerce because it requires expertise in many areas. In addition to a certain level of technical know-how, you should know how to attract visitors (SEO or paid ads).

But: Building a successful shop is no longer as complex as it was a few years ago.

Numerous tools, especially Shopify, enable you to set up a complete shop within a few hours without any previous knowledge or programming experience, which technically works perfectly.

The great thing about this business is that theoretically you don’t even need your own products. Rather, you can either open an affiliate shop or you purchase products from an external provider (e.g. AliExpress) who takes care of production and shipping for you.

Advantages

• High income possible
• No own products required
• Self-sufficient – no dependency on third parties
• Tools like Shopify make it easy to get started

Disadvantages

• High competition
• Expertise in visitor acquisition required

5. Affiliate-Marketing

In my opinion, affiliate marketing is the simplest and at the same time the most promising online business there is.

The practical implementation is so simple that every beginner understands it: Place an individual affiliate link or voucher code on the Internet. If a sale is generated, you will receive a commission.

This means you can monetize any type of reach instantly through affiliate programs. It doesn’t matter whether it’s a blog, a YouTube channel or an Instagram account. You could even leverage offline reach for affiliate marketing using coupon codes.

Most providers have referral programs, so you’re sure to find suitable products or services to promote.

Advantages

• Any type of traffic can be used for affiliate marketing
• Very simple to implement
• No dedicated website required
• Thousands of different programs available
• High income possible
• Much more subtle than advertisements

Disadvantages

• Long range required
• Great competition for niche sites and blogs

6. Web design

As a web designer, you develop the website for companies or private individuals. So you can fully express yourself both artistically and technically.

Even if this is a “time-for-money model” that cannot be scaled at will due to this characteristic, very high income is still possible if you address premium customers through your expertise and experience.

Depending on the size of a page, five-digit income can be achieved with just one project.

Web design is a legitimate online business that will never die out as long as the internet exists. I particularly value the work of a web designer because of the future security alone.

Just looking at platforms like Fiverr shows how many deals you can win in this space:

Advantages

• Customer acquisition possible via freelancer platforms
• Tax classification as a freelancer
• High income possible
• No dependence on third parties
• future proof
• Recurring revenue from maintenance contracts

Disadvantages

• Big competition
• Classic time-versus-money model

7. Dropshipping

Selling products on the Internet via your own shop (e.g. Shopify) or a platform like Amazon without having to store and ship the products yourself sounds too good to be true?

Is not it.

Exactly this model is called dropshipping: A business partner takes care of the storage and shipping of the goods ordered via your shop.

Probably the most well-known program in this area is Amazon FBA. The combination of AliExpress and Shopify is also very popular.

Advantages

• Storage and shipping of goods via external service providers
• Fully automatable
• Outstandingly scalable
• High turnover possible
• Possible via your own shop or platform like Amazon

Disadvantages

• Dependence on shipping service provider
• High competition
• Seed capital required for first batch of product
• Legal training required

8. Sell eBooks

E-books are probably the simplest digital product on the market. At the same time, however, they also enable the development of a very sustainable and serious online business.

With e-books, you can not only monetize your own blog, but also build a business model without your own website. You can sell e-books directly via platforms such as Amazon (Amazon KDP). Here it is possible to create a complete product portfolio that generates sustainable passive income.

By the way: In addition to fiction, non-fiction books are primarily suitable for sale on the Internet. These don’t have to be extensive at all, but rather solve a specific problem.

If you still have no idea how to get started in the online world, I would recommend starting out by selling e-books to gain experience and build cash flow.

Advantages

• Very easy start
• No seed capital required
• No own website necessary

Disadvantages

• Rather low-priced product
• Very big competition

9. Print-on-Demand (PoD)

Print-on-demand is an ingenious business field that generates numerous business opportunities for you. In addition to print books, it is above all fashion that dominates the print-on-demand area.

But what does print-on-demand even mean?

Very simple: you create a t-shirt with a unique print. You can then place this t-shirt for sale in your own shop or on an external e-commerce site. If an order is now placed, the shirt will be created and sent by a print partner.

So you don’t have to worry about the production or shipping of the goods yourself. In addition, you bear no risk, since production only takes place when a sale has actually been generated.

If you want to create your own clothing line, you can open your own shop with the help of Shopify and the partner Printful. If you just want to build up a large portfolio instead, programs like Spreadshirt or Amazon MBA (Merch by Amazon) are suitable.

By the way: Not only fashion is suitable for print-on-demand. You can also create dishes, bed linen or pictures here.

Advantages

• Risk-free entry without seed capital
• Unlimited possibilities thanks to many products
• A portfolio can be built across multiple platforms
• Very high margins with some providers

Disadvantages

• You have to develop a feel for the market
• Very big competition

10. Social-Media-Management

Influencers, politicians or celebrities are stuck in a dilemma: they must be represented on social media, but often do not have the time to comprehensively look after all channels.

This is exactly what you can take advantage of to build an online business.

Social Media Manager, you oversee other people’s channels and take care of posting new content, engaging with the fanbase, and strategizing for the account.

By the way: You don’t have to set up your own agency right from the start. You can also set up a business here as a freelancer.

Advantages

• No seed capital required
• In theory, a smartphone is sufficient as a working tool
• Strongly growing business area
• No own website necessary

Disadvantages

• Big competition
• High and flexible time commitment required

11. Advertising agency

There are two ways to build online visibility: In addition to the inexpensive method of search engine optimization, advertisements (Google Ads, Facebook Ads, etc.) are a very popular way. Because these ads promise first visitors immediately, while SEO requires time for action to take effect.

The disadvantage of advertising is that it costs money. Lot of money. Especially if you don’t understand how to target ads, you can burn large sums of money here without even generating a paying customer.

So if you have knowledge of advertising and have already set up successful campaigns, founding an advertising agency can be a great business idea for you.

Advantages

• No seed capital required
• High earning potential
• Strongly growing industry
• future proof
• Once understood, a kind of blueprint can be used

Disadvantages

• Growing competition
• Customer acquisition is difficult, especially at the beginning

12. SEO-Agent

Generating visitors and traffic for your own website is the biggest hurdle for many freelancers, the self-employed and companies.

One of the best ways to build strong traffic is SEO (Search Engine Optimization). The better a subpage or blog post ranks in the search results of Google and Co., the more traffic it will generate.

So if you have a high level of SEO expertise, you should use it and build an online business on it.

As an SEO consultant, you can expect high commission rates and customers will certainly not run out in the next few years. On the contrary, I suspect that the need will be significantly greater here.

Advantages

• need very large
• High income possible
• Autonomous and not dependent on third parties
• With good work, a lot of word-of-mouth propaganda

Disadvantages

• expertise required
• Big competition

13. Develop app

Your own app can be an ingenious basis for your own online business. So if you understand programming and have an idea of ​​how to develop your own app, then you should definitely use this knowledge.

With an app, you automatically build up a very top target group, since you usually solve a very specific problem. Accordingly, you can later use this established community to expand the business and build it up in a structured way.

The earning potential here is very diverse. In addition to premium features or in-app purchases, you could also show ads within the app. You could even do affiliate marketing within the application.

Advantages

• Less competition, since high expertise is required
• Automatically build audience ownership
• Various monetization options
• High earning potential
• chance of exit

Disadvantages

• High expertise required
• A lot of time to complete

14. SaaS (Software as a Service)

Saas companies are among the most successful business models on the Internet.

What does this mean?

A SaaS company (Software as a Service) offers customers a platform or a software solution for accomplishing specific tasks. Periodic fees are charged for this provision.

The best-known representatives are likely to be SAP or MS Office 365.

Don’t panic: you don’t have to compete with international multi-billion dollar corporations. SaaS models can also be established in much smaller categories. You are very flexible in the design. From project management to customer administration to marketing solutions, everything is possible. Even your own WordPress plugin can be designed as a SaaS model.

SaaS business thrive. That alone shows how many listings can be found at Empire Flippers and for what prices they are traded there.

Advantages

• No seed capital required
• Scalable
• Exit possible
• High income is not uncommon

Disadvantages

• Complex to implement
• Programming skills required

15. Podcaster

The reach of podcasts has increased enormously in recent years. Therefore, this activity is definitely suitable for building your own online business and should not be missing from this list.

The technical implementation of a podcast is simple: you only need a microphone, a quiet location and an editing program. The recordings can be published later via portals that automatically make your podcast visible on Spotify, Apple and Co.

Monetization can be done through product placements, an accompanying blog, or through affiliate links in the show notes.

Advantages

• No seed capital required
• Flexible monetization options
• Absolute freedom of topic
• Technically no high hurdles

Disadvantages

• Cutting can be very difficult
• practice required

16. Online Texts

Can I build a thriving online business with copywriting?

Definitive!

Even if AI writing tools are more and more on the rise, I am convinced that “real”, i.e. human copywriters, will never die out. Creating strong content is just too complex for that.

So if you have good copywriting skills, you can build a serious and thriving online business on that basis. A seemingly endless stream of customers awaits you, because the need for good content is growing all the time.

The great thing is that you don’t even have to worry about prospecting yourself, which can be a real boon, especially in the beginning. Portals such as content.de or Textbroker mediate between clients and copywriters. Here you can accept orders directly and start writing.

Advantages

• No seed capital required
• No own website required at first
• Transparent billing based on price per word
• Simple extension of services possible (e.g. graphic creation, research, etc.)
• High earning potential on complex topics

Disadvantages

• Classic time-versus-money model and therefore not scalable
• Ever increasing competition

17. Programmer

Our world is becoming increasingly digital and complex. Therefore, programmers are more in demand than ever.

So, if you have coding skills, you had better start using those skills to build your own online business from this foundation sooner than tomorrow.

The possible uses as a programmer are diverse and range from website creation and software programming to the creation of plugins and add-ons.

Another advantage is that the earning potential is exorbitantly high.

Since you can work here as a freelancer, it is even possible to use portals like Upwork or Fiverr for customer acquisition.

Advantages

• Excellent earning potential
• Low competition, since high expertise is required
• Can be set up perfectly alongside a main job
• Flexible areas of application

Disadvantages

• Not scalable

18. E-Mail-Marketer

E-mail is still one of the most successful media in online marketing and continues to generate the most sales even in times of social media.

Many companies therefore still rely on this sales channel today.

But: Successful email marketing is an art in itself. There are numerous pitfalls that deter potential customers rather than encourage them to buy. From the subject line to the call-to-action in the email, the content has to be very finely tuned to the reader.

Many companies, online shops and coaches have recognised this and are happy to work with professionals.

Advantages

• No seed capital required
• Your successes can be clearly documented (opening rate, click rate, etc.)
• future proof
• Can be combined with other consulting services

Disadvantages

• Big competition
• Customer acquisition difficult at the beginning

19. Online-Tutor

Attention teachers: Corona has proven that good teaching does not always have to take place in person, but can also take place via online media. This results in a wide range of opportunities to develop your own online business from a teaching position.

The great thing is that working as an online tutor can be interesting not only for teachers!

Did you study chemistry and now you work in a research laboratory? Then the material of the chemistry class from middle school should not pose any major challenges for you.

You have the choice of offering your teaching and tutoring services via your own website or using one of the many platforms.

By the way: The technical implementation of an online lesson is child’s play and can be done via MS Teams, Team Viewer or Google Meet. All free solutions.

Advantages

• Possible without start-up capital
• Comfortably from home
• No running costs
• Monetize existing knowledge
• Can be implemented without your own website

Disadvantages

• Not scalable

20. Bug-Testing

Errors regularly creep into all areas of the digital world. This fact opens up the possibilities for your own online business: bug testing.

As a bug tester, you look for errors in games, software or websites on the instructions of the manufacturers. You will be rewarded accordingly.

With increasing experience, you will get a better and better view of typical weak points and you will know in which areas mistakes tend to creep in. That opens the doors to higher hourly rates and better customers.

Advantages

• No previous knowledge necessary
• No seed capital required
• Future-proof model
• Flexibility in product selection

Disadvantages

• Not scalable

21. Graphic Designer

It doesn’t matter whether it’s a website, app or advertisement: graphics, icons or illustrations are always required in digital media.

Therefore, hardly any freelance work is better suited as a basis for a successful business than that of a graphic designer. As a graphic designer, you can not only let your creativity run free, but you are guaranteed to find buyers for your individual type of art.

Not even a business registration is required, since you will be working here as a freelancer.

As a graphic designer, you can easily start as a freelancer and gain initial experience. Once you have built up a customer base, it is not far to your own agency.

Advantages

• No seed capital required
• Different styles of art possible
• Modern technologies (Apple Pen, etc.) offer gigantic possibilities
• Customer acquisition via platforms possible
• No own website necessary

Disadvantages

• Big competition
• Artistic talent required

22. WordPress-Plugins

There are currently over 50,000 entries in the WordPress plugin database – and the trend is rising every day.

If you have programming skills, you can develop your own WordPress plugins. This is not only a great way to make potential customers aware of your skills (keyword: online business as a programmer), but can also act as a standalone business.

Plugins can be excellently monetized as part of a SaaS or freemium model: either you charge regular fees for use or offer a paid premium version.

Advantages

• No seed capital required
• Individual monetization concepts possible
• Can serve as a reference for orders
• High income possible

Disadvantages

• Programming skills required

23. Virtual Assistant

As a virtual assistant, you support clients with a wide variety of tasks. The tasks can be very diverse, from research to e-mail inbox management to social media management.

But can it grow into a larger online business?

Definitive!

What starts as an assistant can quickly develop into an agency. As your customers grow, you can hire freelancers to do the work for you and only do final quality control.

Another growth opportunity is to offer coaching or online courses for aspiring virtual assistants.

Advantages

• No seed capital required
• Customer acquisition possible at the beginning via platforms like Fiverr or Upwork
• Jobs are varied
• Further development to your own agency possible
• Long-term contracts possible

Disadvantages

• Big competition
• Customer acquisition difficult at the beginning

24. Create templates

In fact, a profitable online business can grow from just creating templates for various programs.

What could that look like?

The need for templates for Microsoft Office is huge. For example, many people use Excel for personal accounting or need pre-formatted Word documents.

Graphic templates are also very popular. The demand for Canva templates has increased dramatically over the last few years.

If you need inspiration, check out Etsy. Some Excel or Canva templates have already generated thousands of sales.

Advantages

• No great technical know-how required
• No seed capital required
• Templates are available for many programs
• Suitable for creating a portfolio

Disadvantages

• Rather small sales prices
• Big competition

25. Translator

Even if translation tools like DeepL or Google Translate are getting better and better, many projects require the work of a human translator.

However, these tools quickly reach their limits, especially with complex and subject-specific texts.

So if you have an excellent command of a foreign language, you could start your own online business as a translator. An apprenticeship or a degree in the field of languages ​​or translation is helpful, but not essential.

Specialist experience, e.g. B. in the field of technology, engineering or medicine is also useful, as you can usually earn more as a specialized translator.

You can start by listing your services on Fiverr, Upwork, ProZ, or TranslatorsCafé.

Advantages

• No seed capital required
• Depending on the language, very little competition
• Great global need for translations

Disadvantages

• High competition in commonly spoken languages
• Requires very good language skills (both in the source and target language)
• Sometimes a stressful job with tight deadlines
• Can only be automated to a limited extent

26. Online-Coach

Do you have a high level of expertise in a specific area? Then you can help other people achieve their goals and dreams in this niche.

As an online coach, you can help with weight loss, starting a business, or building your own newsletter. There are really no limits to the variety of topics here.

The coaching industry is one of the fastest growing professional fields in recent years.

Advantages

• No seed capital required
• Any subject suitable
• Simple technical implementation
• High earning potential
• Scalable through info products

Disadvantages

• Competition grows every day

27. Freelancer

The last, but at the same time most versatile online business that should not be missing from this list is working as a freelancer.

This includes all activities that you can carry out independently and, above all, as a freelancer based on your skills. From the graphic designer to the web designer to the link building professional for blogs, everything is really possible here.

You can really offer any of your talents as a freelancer-based service on the web. Portals such as Fiverr or Upwork are primarily suitable for this.

More and more companies are doing without classic employees for certain activities and prefer to work with freelancers on a project basis.

Advantages

• Flexible working hours
• No limits on the offer
• Varied activity
• No dependency

Disadvantages

• High competition depending on the industry
• Not scalable

FAQ

Here I have put together answers to frequently asked questions about online business ideas: