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Welcome to the best online home business opportunities in 2020. This list will include business models, content creation based opportunities and freelance opportunities. This list only contains the BEST online home opportunities so I didn’t include the good old business models like affiliate marketing or dropshipping.
Don’t get me wrong, those still work extremely well, but in this list, I tried to include a variety of newer and most lucrative home business opportunities. The reason I also included a freelancing opportunity was that it is very easy & profitable. Often when people are starting out on the internet, they just want to make some sort of money that pays better than their job, so that’s why I included it.
8 Best Online Home Business Opportunities
1. Drop Servicing
First on our list of best online home business opportunities is drop servicing. Drop servicing is very easy to start and it works the same as drop shipping, but with services.
The way it works is that you go and find freelancers on Fiverr or Upwork that offer their services for a cheap price. Next, you create a website or funnel around these services and market the services to people who need them or even better are actively searching for them.
When someone purchases the service on your site, you go and purchase the service for a cheaper price. Then once your freelancer delivers the service, you send the delivery to your customer. It’s easy as you don’t need to fulfill any services as it’s not you who is fulfilling them.
You also don’t need to handle any shipping as you are selling services. The only thing you need to do is create the website, advertise & manage the business i.e fulfill orders. It’s pretty cool and lucrative so it is definitely a business model that you could consider.
If you think that this is something you are interested in, I recommend reading my Drop Servicing guide, as it is full of practical instructions for getting started.
2. Infinite Value Of Knowledge
The next business is the “Infinite value of knowledge”.
I’m sure that you have heard about the “Infinite value of time”, but did you know that knowledge also has infinite value?
So, I am sure that you have noticed that through the internet selling knowledge has become a little more popular than it used to be, right?
The advantage of selling knowledge is that you can buy it once and sell it as many times as you wish.
That means that you can buy a course or some other form of knowledge such as books and then sell what you have learned over and over again. However, I don’t recommend that you do this with a course on something really specific such as dropshipping.
Otherwise, people will want to see income proof and you won’t be able to answer people’s questions about the methods you are teaching in your course. Instead, you can do this with something less specific that can be applied to many business models, for example, copywriting or Facebook ads.
If you think this is something that you want to do, you will have to be 100% sure that the content of the course is high-quality, so that you can make sure yours is too.
That’s very important, you have to make sure that the knowledge you are selling is high-quality otherwise, you will get high refunds along with bad reviews. When you have a product with positive feedback, you can even release it on a marketplace such as WarriorPlus or ClickBank and get affiliates for your product.
Next on our list is blogging, which although it has been around for a long time, it is still very profitable and an open sea of profits.
Because the use of the internet is still increasing, that means the search volume of certain keywords is increasing. You can write articles on low competition keywords and rank for those keywords. It’s a great source of free traffic, all you need is hosting which costs around $60 per year.
You can monetize your blog with advertising networks such as Google Adsense, as well as business models such as affiliate marketing.
Blogging is something that works in any niche, and by any, I mean any…
It has so much potential, and it is really easy & cheap to start. Of course, it will take a lot of consistency and effort before becoming successful with it. If you do stay consistent until you succeed, the results will be life-changing. You will get hundreds, if not thousands of new email leads per month as well as a variety of different income through affiliate marketing and advertising networks.
If you want to start blogging, I recommend heading over to Bluehost and picking up their special hosting deal which costs around $60 per year.
4. Freelancing E-Book Design
Despite this list being on best home business opportunities, I wanted to include a freelancing opportunity as well, for the reasons that I mentioned earlier.
This freelancing opportunity is creating & designing e-books. Online business is getting more & more popular.
E-books, affiliate marketing, dropshipping, etc. they are all gaining popularity, that means more and more people are heading to websites like Fiverr to hire freelancers so that they can get E-books designed & created.
By the way, E-Books are used in all types of business models as bonuses, lead magnets and to educate others, so the market is growing quickly.
Now, you might be thinking that you don’t know how to design e-books, but that isn’t a problem. There is a software called “Sqribble” that does most of the work for you, and anyone can do the rest.
It is extremely easy. All you need to do is purchase the software once (it costs around $50) and sell your services. You can also combine this with a writing e-book service and charge $200+ per e-book.
The average amount you will earn through e-book design freelancing will be around $20-$35 per hour, which is a good way to start off and save up money for other business models.
It’s easy, beginner-friendly and a good way to save up some extra cash.
Next on our list is SAAS which means “software as a service”.
This is a method that will take some initial investment, but it is a great passive income opportunity. Basically, what it is, you will pay someone to create a piece of software, that you can then sell for a monthly fee.
You can find freelance developers on websites such as Upwork.
It’s a business model with huge potential, as it will only take some initial investment, alongside some management such as support and some occasional updates, but you can get paid forever.
This software could be anything, for example, a landing page builder or a WordPress plugin for a certain purpose. I would only really recommend this model, if you are a little experienced as it can go wrong.
Any business model can go wrong, but because this business model requires initial investment alongside some decent marketing, I would say that this is a business model for more experienced marketers. That means, it requires a lot of research before jumping in.
But it does have huge potential, so if you are an experienced marketer, I do recommend to put some research into SAAS, as maybe this is something for you.
Next on our list is YouTube, which again is a home business opportunity that has been around for a long time now.
However, it is still extremely profitable as it can be combined with other business models. It’s also pretty easy to get a decent amount of traffic, after you study factors such as video length, click through rates & watch time.
It’s also not as SEO heavy as blogging, and it’s also something that works in any niche. As YouTube is a type of free traffic, you will have to be consistent, just like with blogging.
However, it is also similar to blogging in the potential, it has the potential to make you millions in profits if you stay consistent and study it well.
But it will always take a significant amount of time & consistency as it is free traffic.
Also, YouTube isn’t for everyone, in today’s day and age, you will probably have to put your face on camera. I know, a lot of people don’t like to do this, but YouTube is still very profitable in 2020.
7. “Make Money Online” Sites
Next on our list of home business opportunities are “Make Money Online” Sites.
Now, I am not talking about going over to these and becoming a member. What I am actually talking about is creating one yourself.
You can then fill these sites up with surveys & CPA offers and then give half the money that the advertiser pays you, to the user of your site. For example, I know there are a lot of CPA offers around iPhone giveaways and let’s say you would get $2 per lead.
So, on your site, you could say that each person who enters the giveaway earns $1. There is a big market for this sort of stuff because people want easy ways to make money. Once, you start getting a lot of active members, you could put some money into advertising and scale this business up.
It does have some huge potential, as you will receive 50% (or however much you choose) of every member’s earnings.
However, this is also an opportunity for more experienced marketers, as you will need some sort of web application, payment processors, support & other things to do this.
8. Flipping Businesses
Lastly, we have flipping businesses.
As I said earlier, online business is getting more popular, so the number of online businesses is increasing. That means the number of people selling their businesses is increasing too, which you can profit from.
Often, when business owners are trying to sell their businesses, you can profit from them by asking them if you can “drop ship” their businesses. Of course, you should probably ask them first.
However, this doesn’t require any upfront money, but it does require a couple of other things. You need to make sure that the business owner selling the business, is legit and not trying to scam people. Otherwise, you will run into some issues.
I would also recommend starting with little businesses, blogs, websites, youtube channels, etc. before jumping into the big ones.
Once, you have got the hang of it, you can start doing this with bigger businesses and adding thousands of dollars on the price. However, I can almost guarantee that you will run into some issues along the way, that’s business.
So, I would recommend as I said earlier to start with smaller businesses or accounts.
You can use marketplaces such as Flippa to find businesses to sell.
Finding The Right Business Model For You
Before I finish, I just wanted to help you make the right decision by helping you think about the factors.
When choosing a business model, it’s a big choice. So, you need to think about:
All these factors should play a role in which business model you want to start. It’s also important that if there is one that you really want to start, but you can’t because of one of these factors, that you find a way around that factor.
For example, if it’s your budget, you save up money & maybe start freelancing to get the amount you need.
If it’s your knowledge, you can get a course on that topic.
It’s really important to find the best option for you, so take some time to make a decision.
I hope this has helped you find the right business model for you and hopefully, you will be back soon!