Bravo Filipino | 5 Profitable Business Which Every Businessman Should Start In 2021 | There is no good or bad time to start any business. If you have done your research thoroughly and come up with a viable product or service, it will find its market irrespective of the time or season. In the initial stages, you will find a slow growth rate but progress in time, and your understanding of the market while staying in it will help you register steady growth.
With diseases and viruses surrounding the environment, one thing has been proved that tomorrow will ultimately depend on technology, the internet, and electronic gadgets from studies to business. And, if you want to make the most of it, you have to adjust and run accordingly or else silently back out. 2021 has given rise to numerous profitable businesses that earlier were limited as a hobby. From drop shipping to virtual assistance, customers demand more of such services to make their lives easy and stress-free.
Therefore, we have made a list of the top five profitable and scalable business ideas in 2021 that blend innovation, flexibility, and independence. If you think you have the calibre to be a successful businessman in today’s challenging time, continue reading to learn more.
5 Most Profitable & Scalable Business Ideas In 2021
- e-Commerce Business: e-Commerce business is not a new business idea. It has been around for quite some time but has gained much popularity only in recent times. Entrepreneurs who own a retail business or the aspiring ones who want to open economically viable stores are the correct people to open an e-commerce business.
Starting an e-commerce site is cost-effective as you require an alluring website to advertise your products. Internet users spend a considerable amount of time surfing on the internet, of which a good number of people regularly make purchases online from a variety of stores.
Affiliate marketing Vs Dropshipping
Differentiate between Affiliate marketing Vs Dropshipping.
Affiliate Marketing is a type of Performance on Amazon based earn a commission for marketing another person’s or company Products. March 2017 Amazon’s Affiliate structure changed, Amazon offering rates 1% to 10% of product revenue for creators, providing the opportunity for Affiliates to increase their passive income based on the selling if you have PayPal account you can receive payments in PayPal. And you can exchange easily PayPal to Easypaisa, PayPal to JazzCash etc.
The main difference in Affiliate marketing Vs Dropshipping. Dropshipping is an order fulfillment method, where store doesn’t keep the products it sells in store. Instead store purchase products from other third party supplier and has shipped to the customer, As a result the seller doesn’t have to handle the product directly. if you have PayPal Account you can receive payments in PayPal. And you can exchange easily PayPal to JazzCash, PayPal to Easypaisa etc.
You can start an eCommerce business with a dropshipping business model where people order products/services from your website, which other manufacturers/suppliers sell, and you pick up the order and get it delivered to the mentioned address like Amazon, Sight, Zomato, Myntra, etc. In this type of model, you save a high amount of money on inventory and warehousing costs.
In an e-commerce business, your website is your office, which prospective customers visit, check the showcased products, and place their orders. So, developing an attractive yet impressive e-commerce website is a must that offers a user-friendly interface and easy navigation. Names of a few key players in website making and e-store building are Wix, Zyro, WooCommerce, Shopify, and more.
- Affiliate Marketing: Online promotion is what matters the most in today’s digitized world. With social media taking more of consumers’ time, online marketing has become a primary channel for business marketers to market their products/services.
Customers tend to believe in what others are saying and neglect their senses. More than themselves, they listen to others, especially those who are renowned. So, if you are full of confidence, a pro in marketing, and can play with words to convince people into buying, affiliate marketing is your cup of tea, which promises an exponential growth rate.
In affiliate marketing, you only have to promote the product/service of other business houses, and you will be rewarded with a commission if the buyer makes a purchase using your referral. The business is an excellent side-income opportunity while you keep focusing on your actual business.
To generate a good follower base online, you must set up a website (if you do not have one) or a blog through which you would be doing affiliate marketing. You can also leverage your social media accounts, bring a sea of customers with your collaborator business, and benefit enormously.
- Virtual Assistance: Virtual assistance is another high-income side business opportunity for any businessman. A virtual assistant offers a wide range of services to business professionals that helps the latter streamline their day-to-day life, such as planning calendars, filing emails, managing meetings, and more.
Virtual Assistance has a great network of customers and takes a proactive approach that requires low investment to start. From working professionals to small & medium businesses, all are super loaded with multiple tasks cropping crops together. So, at this time, if they get support from someone who has excellent organizing, arranging, and problem-solving skills, they will be more than pleased in hiring.
- Hyper-Delivery Services: Demand for delivery services have sky-rocketed in recent times, after the launch of Swiggy, Zomato, and others. Hyper delivery services include delivering products as small as a handkerchief to a product as big as furniture.
Since last year, such delivery services had found good business when people started placing their orders via a call and asked these local delivery channels to deliver the purchases at their doorstep. From cakes & gifts to documents, from clothing to essential supplies, the hyper delivery company stops at nothing to make your product reach you at the right time and in proper condition.
All that you need to start this business are drivers who can drive both two and four-wheelers comfortably and have a good knowledge of the local area and a decent number of fleets (cars & bikes) to manage multiple deliveries at a time. You must also be capable enough to manage time and handle numerous customers at any point in time.
- On-demand printing: It is a low-cost, advantageous, and easy-to-start business idea in massive demand because everyone wants everything personalized. From birthdays to anniversaries, people want to give their loved ones something that has a personal touch. Thus, giving rise to customization from greeting cards to cakes, from t-shirts to accessories. You can create custom designs and can tie up with other manufacturers for printing and production work.
Apart from this, you can also collaborate with corporates to customize their business tours and corporate events. Such businesses are appropriate for those businessmen who already have some creative or printing or designing company as their primary work.
These five profitable businesses are not the only option for you. If you think “is real estate investment trusts a good career path,” or are there any best paying jobs in real estate investment trusts, let me tell you that the real estate industry is definitely on the boom with the constant rise in the demand for better homes and better amenities. You have to suit the right business that can sync with your old and traditional business model and help you allocate them equally between them.
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Sofia Kelly is a passionate blogger. She loves to share her thoughts, ideas and experiences with the world through blogging. Sofia Kelly is associated with The Daily Notes, Finance Team, Real Wealth Business, Smart Business Daily, Top Preference & Big Jar News.