1. Online coaching is one of the most profitable business ideas on the list, with zero investments, and with the use of just software systems as input. The industry is set to reach a market size of $4.5 billion by 2028, making it a profitable business to sell online. It is a form of coaching where sessions are conducted virtually through video conferencing, email, or messaging. It enables clients to receive personalized coaching from a professional coach regardless of location.
Famous Companies For Online Coaching Business
- Fingerprint for Success uses AI to help coaches in delivering better client results.
- Coaching Loft is a business oriented online coaching platform catering to A-Z of any business: logistics, booking, contracts and invoicing.
- Satori helps online coaches in streamlining administrative processes.
Figure out your niche, identify the demand for your coaching services, and analyze the competition. Develop a business plan outlining your coaching services, pricing, marketing strategy, and financial projections. Choose your coaching program structure. You can either go for one to many, group coaching sessions or offer exclusive, one to one coaching services. Develop coaching materials such as worksheets, guides, and videos to support your clients. Obtain necessary permits and licenses and register your business. Set up payment and scheduling systems
Marketing Your Online Coaching Business
Some ways through which you can market your online coaching business are: Through pay per click Advertisements This is a marketing model where advertisers pay each time a user clicks on their ad. You can use this model to drive targeted traffic to your coaching website or video. Profitable Partnerships If a similar business or coaching platform promotes you on their page through a marketing partnership set up, it can direct their audience to explore your coaching services as both of you have the same client base. Establish yourself as an expert in the field In the time of social media, appearances make a lot of difference. If you present yourself as an expert in your area on different social media platforms, customers are more likely to opt for your services.
2. Personal training involves designing a one on one fitness program to help individuals achieve their fitness goals through customized exercise and nutrition plans, and guidance from a certified personal trainer. The business profile is highly sought after and is already valued at USD 39,740 million in 2022.
Famous Personal Training Business
- Brad Schoenfeld
- Matt Roberts
- Louise Parker
Obtain relevant certifications and training.
- Develop a business plan, and register your business.
- Define your target market and pricing strategies.
- Find a suitable location or consider mobile training.
- Invest in the necessary equipment and liability insurance.
- Build a website and social media presence.
3. Dropshipping is one of the most extremely profitable businesses in today's times. Last year, the global dropshipping market was valued at 225.99 billion, with chances to rise at 23.4% YoY. It is a retail fulfillment method where a store doesn't keep the products it sells in stock. Instead, when a store sells a product, it purchases the item from a third party and has it shipped directly to the customer. As a result, the merchant never sees or handles the product.
Famous Dropshipping Companies Spocket started from scratch in the tightly held drop shipping market and has been reigning the US, and European e commerce ever since. Moreover, Pocket is a great utility tool for Shopify users, due to its hassle free integration with the marketplace. Sprocket’s branded invoices are a delight to customers as well. Other companies that made their mark in dropshipping business:
- Notebook Therapy for Japanese and Korean Stationery
- Bidet Genius for bidets
- Life Booster for everyday gadgets
- Wallplate Warehouse for interior decor
Here’s what you need to do to start a drop shipping business in the USA
- Find a product category that interests you and has demand in the market.
- Look for reliable suppliers who offer dropshipping services and are willing to ship to the US
- Create a website or use a platform like Woo Commerce or Shopify to set up your online store.
- Add products from your suppliers to your store, including descriptions and images.
- Determine your pricing strategy based on your costs and competition.
- Own your social media accounts. Drive customers in the US to your store through advertising, social media, and other marketing channels.
4. Content Creation The global digital content creation market reached USD 25.6 billion and is expected to grow 13% YoY. Content creation involves producing original and engaging material, such as articles, videos, or social media posts, for a specific purpose or audience. It can range from copy writing, designing, podcasting, clogging, or even simply posting pictures on a platform that engages with an audience.
Examples of Famous Content Creation Business
- Hub Spot for customer centric content, brand awareness, and driving email signups
- Up City for their SEO enriched content services
- Molotov especially famous for their content templates
- Define your audience It’s important to have a clear sense of who will be consuming your content to have a clear brand voice and marketing strategy.
- Decide on your platform All social media platforms attract different audiences, promote different forms of content, and are meant for different business types. Figure out which platform works best for your brand.
- Establish a brand voice In order to reach your target audience, use polls and customer surveys to develop a distinct voice for your brand.
- Third Party tools Based on the type of content you want to create, you may need to invest in some third party tools such as Canva, Grammarly, or some video editing software, etc.
- Work on your Portfolio Develop a portfolio showcasing your content creation skills and capabilities.
5. Social Media Management is a lucrative business, especially for millennials, and involves creating, analyzing, and engaging with content on social media platforms like Facebook, Instagram, and Twitter to increase brand awareness and drive business growth. It is one of the most sought after rewarding businesses for today's entrepreneurs. A social media manager can help businesses take care of all their social marketing channels.
Famous Companies in the Social Media Management Business
- Smart Sites for social media and reputation management
- Only Pult for overall brand awareness, and back linking to your landing pages
- Sprout Social for handling everything, right from content management, to brand awareness, and even accommodating current, and top social media trends in your strategy
6. Personal shopping is a service provided by professionals who assist individuals in selecting and purchasing items that meet their personal style, needs, and preferences.
How to Start a Personal Shopping Business in the USA
- Determine which type of shopping services you want to offer.
- Assess the skills required to start a personal shopping service and hire employees if needed.
- Develop a business plan and do a market analysis.
- Work on pricing strategies. Build a website and social media presence to showcase your services.
- Network with potential clients and build relationships with local businesses.
- Continuously improve your knowledge of fashion and retail trends.
Marketing Your Personal Shopping Business Market your personal shopping business by creating a distinct brand voice, offering exceptional customer service, leveraging social media to showcase your services, partnering with local retailers and fashion influencers, and offering personalized promotions and discounts.
7. Pet Sitting and Dog Walking Pet sitting and dog walking are services provided to pet owners to take care of their pets, including feeding, exercising, and providing companionship, while the owners are away from home. Marketing Your Pet Sitting and Dog Walking Business You can advertise your pet sitting and dog walking business by leveraging social media to showcase your services, offering promotions and referral discounts, partnering with local dog shelters and pet-related businesses, creating newspaper ads, and distributing flyers.
8. Virtual Bookkeeping is a service where bookkeepers manage a company's financial records remotely using cloud-based software, allowing for secure and efficient management of financial data.
How to Start a Virtual Bookkeeping Business in the USA
Here’s how you can set up your virtual bookkeeping business in the US
- To start, you minimally need a website and subscription to virtual bookkeeping software along with your laptop.
- Develop a business plan outlining services, pricing, and marketing strategies.
- Decide on your business name and structure.
- The four common business structures in the US are sole proprietorship, partnership, limited liability company, and corporation.
- Register your business and obtain the necessary licenses and permits Get a small business financial monitoring software for your own use.
- Define pricing and billing policies and procedures.
- Establish a website and social media presence.
Marketing Your Virtual Bookkeeping Business
You can advertise your virtual bookkeeping business by speaking on different accounting podcasts, offering free short-duration consultations, putting up client testimonials on your website and social media, running Facebook ads, and publishing articles on known industry blogs.