5 Easy Business Opportunities That Can Make Over 100K Per Year |
Starting your own business from scratch can be quite difficult for most people. However often times the financial reward makes it well worth the effort. Whether it’s partnering with a successful franchise or running a highly efficient internet business from home, there are many different types of businesses you can start for under 100K that have incredible growth and profit potential.
A franchise is a great way to earn a good income from an already well established and 'done for you' business. Franchises are businesses that have already been set up to offer investors and entrepreneurs the opportunity to profit from their brand name and business model.
A good franchise should be somewhat well established and offer products that are in demand. This allows you to use the name recognition of the franchise to your advantage - tapping into an already thriving market with virtually no advertising costs. Because franchise businesses have already proven themselves successful they are much more ideal for someone looking to start a low risk business.
There many great franchising opportunities available for under 100k, including renovation companies, paint shops, food trucks, mini marts, or even more creative ventures like clothing stores, many of these are easily capable of making over 100k per year in revenue.
Ecommerce is set to explode over the next several years due to the fact that online shopping is growing at such an exponential rate. As much as it has grown in recent years, ecommerce is still very much in it's infancy. Financial experts predict that this growth trend will continue for many years to come.
Ecommerce is very powerful because once you've chosen a specific product niche and acquired your products, all you have to do is focus on marketing of your product. Because most ecommerce businesses operate online, you can use the internet to make your business work for you 24/7. This enables customers to purchase products at their own convenience, enabling you to have more time freedom to focus on advertising and product expansion. Because you don't need to rent a physical building or hire an entire team of store employees, the profits tend to be significantly higher than most other businesses. If you do end up growing your business to a point where you need to hire staff, you can very inexpensively outsource time consuming or technical tasks to people on freelancing sites like Upwork or Elance.
Dropshipping is a specific form of ecommerce where you don't handle the physical products at all. You simply sell them on behalf of a supplier (or suppliers) and they take care of all the shipping and product inventory for you. They offer you a discounted bulk price on their products and in turn you sell them for a much higher price to your customers.
Suppliers love this because they reach many more customers and make more sales.
If you are interested in ecommerce, but prefer to only focus on the actual online marketing of your product, you should definitely consider dropshipping.
On average, most dropshipping sites tend to make between 2-5K a month. However, because a single site is fairly easy to set up and manage, many people end up creating multiple sites for similar product niches (often using the same suppliers) in order to make over 100K a year.
4. Selling T-Shirts
Selling T-Shirts may not seem like a business opportunity that can make over 100K a year. However, many people are actually making much more than that on sites like Teespring. Teespring utilizes crowd funding, which enables you to set a minimum sales goal before actually printing and selling the shirts. When your sales goal is finally reached, your shirts are shipped to the customers and you get paid. If for some reason you don't reach your sales goal, you don’t lose any money because no shirts were printed.
Teespring is similar to dropshipping in that they both give you the freedom to market your product while they (or a third party) handle the inventory, shipping, and customer service.
Many people only end up spending as little as $10 for targeted advertising per T-Shirt campaign, sometimes managing as many as 20 or 25 shirt campaigns at once. You can always invest more money into a more successful campaign in order to increase your profit before printing and shipping the shirts.
5. Membership Sites
Membership sites are a great way to make a massive recurring income online. Customers pay a monthly fee to be part of your website, which usually offers value in the form of access to a forum, tutorial videos, or articles.
You can attract customers by offering value in the form of a free blog. You can use this blog to collect prospective customer’s emails and slowly build a trusting relationship with your customers via email marketing.
Membership sites do require some amount of on-going work and maintenance, as you have to consistently add value to your blog and membership site in order to consistently engage your customers. Believe it or not, 100K a year is a relatively small income for a successful membership site.
As you can see, there are several simple business opportunities out there that are capable of making over 100K per year. It is important however when starting a business to do plenty of preliminary research. You also might want to seek out the advice, guidance, and mentorship of a business marketing expert who has the necessary experience to help you grow your business. For more information about business opportunities that can make 100K per year and how to start your own successful business see, The Business Success Blueprint
Edward Rosenberg is a professional business and marketing expert. He has studied, researched, and implemented dozens of various marketing methods for several businesses over the past 5 years. To find out more about Edward, Click Here
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