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Online Business Ideas for Digital Nomads
Are you searching for a flexible way to earn money? If your ideal work space is somewhere near the coast, at a farmhouse of some exotic beach that also has a good WiFi system, you can easily sit there and start a digital nomad business. By choosing from the million online business ideas and adding some actionable information, you would be able to begin building a perfect dream business.
Not sure which ideas you could use? Well, below shares are the top Online Business Ideas that you might like to open as a business.
#1 Internet Security Business
Do you have an antivirus program installed in your system? Well, everyone does and there is a lot of struggle online where people are looking more reliable software at cheap rates. This is one of the best Online Business Ideas that you can choose since the internet security is a software that everyone downloads at some point of the year due to the growing threats online.
Startup Costs
For this business, you would need at least $400,000 as the starting capital so that you can make a proper attempt in launching the business. The payroll of this business would be your largest upfront cost for getting the software developers who would build the products you would be selling.
Legal Considerations
With this business you would need a EULA, which is an End User License Agreement. It is a legal agreement that would state all the privileges and the rights that the customers have for using the software. Other than that, you might have to add many other statements on your website which would depend entirely on how the customers interact with your business online. For creating the right Terms of Use/Service and Privacy Policy statement, it is advised to take the help of a professional.
Earning Potential
As mentioned above, everyone needs Internet Security making this one of the best online business ideas. Moreover, this industry is a $137.85 billion dollar as of 2018. This means that even a small internet security company that is successful would easily make millions.
#2 Online Courses Business
It is obvious that you might have come across at least one course online while you normally surf the internet. Well, online courses are very famous for hobbies, learning foreign languages, self-improvement, continuing education purposes, corporate training, and “how-to” instructions for a variety of projects. Whatever be the choice this is another one of the great online business ideas that you can choose.
Startup Costs
The initial costs depends entirely on the kind of courses you want to offer. In case you want to just give simple classes that has material for which the students have to pay online, and that is available for the all the students to access at any time, here are the expenses that you would have to take care:
- Website: $5,000
- Creation of course materials: $10,000
- Internet marketing: $500 per month
Moreover, if you decide to offer a much more advanced class with live chat support, it would cost more. The costs for a 24/7 live chat would be about $200 monthly.
Legal Considerations
The main law that comes in for the online courses is the copyrights one for the education materials. You would need the help of a professional lawyer to be safe so that your non-tangible materials are not copied.
Earning Potential
An online instructor’s fees vary depending on the course, skills and experience. There are a few instructors would might charge a flat fee of maybe $10 to $500 per student. While there are some who can even charge in thousands. Other instructors usually charge as per the hour like $10 or $30 per hour. So, you can choose the one you find more suitable for you to put up as your price to earn from.
#3 Online Magazine Business
Starting an online magazine is another one of the greatest online business ideas. The online magazine is also called digital magazines or e-zines that features typography, graphic layout design, photography, and articles just like the normal print magazines. There are some blogs which are published and also run as the e-zines, that have advertising support and guest post writers.
Startup Costs
If you are planning to start an online magazine, the startup costs are very low, the more money you add in the business, the more returns you get. For putting up a website and getting the domain and hosting, the initial charges are $50 normally and the monthly charges are $25. A new domain comes for $15, while an existing domain comes for some hundreds or thousands. Depending on your plan and domain name, you can choose the one you want.
Legal Considerations
Normally with an online magazine, you would need to register it as a trademark as it is an intellectual property and can be copied, or claimed by someone else. By having the trademark, you would be able to prevent the brand materials like the logos, and names from being used by any other person.
Moreover, ensure that you check all the state and local requirements before you apply to open an online magazine business as there are many other online business ideas you can choose from.
Earning Potential
You can opt to have a paid subscription for your magazine. This would assist you in earning cash from it. Moreover, you can increase your revenue by partnering with affiliates and/or hosting advertisements.
#4 Blogging Business
Another one of the best online business ideas is the blogging one. A lot of people are running blogs on the Internet and thanks to their blogs, people get information easily online. And since the technology has become very advanced, people tend to look for everything online where many spend their time in reading the blogs on various topics online daily.
If you want to do something like this, you can choose a specific topic for starting a blog and keep updating the blog with content that would inform, entertain and even educate people on the topic.
Startup Costs
This business idea is one that has a startup cost that is the lowest, just that you need to have a computer and an internet connection already. Normally, you would need to buy a domain name ($15 a year) and the hosting ($15 a month). And if you do not have a computer, you would spend about $500 to get one with an internet connection of $40 monthly. With all this, you would be able to run a blog easily.
Legal Considerations
Depending on the content, the blog might be regulated by the FTC. And if you ensure that you are up to date with these regulations, you would not be violating any laws. Also, it is advised to check with any local or state regulations that you might have to follow for the blogging business.
Earning Potential
There are few bloggers who earn from their blog by asking people to join a private blog, or by selling products. But these blogs are limited by the number of followers and the prices. Other than this, there is another way to earn money – which is by hosting advertisements.
The type of blog and also the number of visitors impacts the rate that the advertisers are ready to pay. There are a few advertisers who pay about $0.05 and $1.50 for a click on the ads. There are many advertisers that you can choose from depending on their offer rates and their compatibility with your blog topic.
#5 Voice-Over Service
Voice over businesses is another one of the great online business ideas that many can opt to earn a lot of money. It basically permits the customers to record and even purchase recordings that can be used for animation, commercials, etc. Even though this kind of recording can be done in a studio, many companies give the ease of recording at your home via your computers or even on the phones.
Startup Costs
For this business, you would have to buy a entry-level but high-quality equipment for the audio recording and the software to get it started. This would cost you about $2000 or even above. The basic equipment would include the editing software, XLR cables, computer and obviously a microphone.
Legal Considerations
To reduce any kind of legal risks, it is better to have a strong service contract. This documentation would also serve as an outline to the scope of your projects and also the means of the payment.
Earning Potential
Any contracts that include the simple voice-over work can help you to earn about $250 to even $500 in an hour. And there is not where it ends; you can even earn about $1000 and above in much more advanced projects, which includes recording for some academic presentations or business.
#6 Live Streaming Business
You already know about the online platforms for live streaming like YouTube and Twitch. With the help if these platforms, you can easily start a live streaming business. By getting a lot of followers, you can become a live streamer and partner with a live streaming site. This is one of the most popular online business ideas that is in trend right now.
Startup Costs
The set up costs for the live streamer business is normally about $650 to even $1500. This involves the powerful gaming machine that would have the ability to run the video games at a high capacity. You would also need a good speed internet connection. Other than this, you would might also need video games and the subscription would also cost you for the business.
Legal Considerations
Unlike the other online business ideas, a live streaming business does not have any specific laws to follow. Nonetheless, a streamer who becomes a successful one might have to sign the partnership contract with the streaming companies that are larger. And this contract might come with the Non-Disclosure Agreement, which is legally binding.
Earning Potential
If you get a viewer base of about 6000 or above on a Twitch streamer account, you would be able to earn $18,000 in a month. Moreover, with every other site that streams the Twitch streaming, you would be able to get a revenue of about $250 to $1500 monthly. Also, you get $3 for each subscriber on Twitch.
#7 Custom Phone Case Business
Each and every one today uses a phone case, and it has even become a necessity to keep the surface of the phone protected and safe if it falls or otherwise. So, if you choose to offer custom designs out of all the online business ideas, it would be a great business venture.
As soon as you get the needed equipment, you would be able to make as many phone cases as you wish. But for this, you can sell the covers online easily without the need to open a shop. Also, if you allow the customers to select the specific design and order online, you can then make it and ship it to them.
Startup Costs
For starting a business like this, you would need the amount of up to $3,500. In this, you would also get a startup kit that holds all the important materials for you to make the phone cases. In case you want to mass produce the cases, you would have to spend about $30,000 on the materials and equipment.
Legal Considerations
Again, unlike the other online business ideas, there isn’t any particular law for this business. Nonetheless, it is better to check with your local and state ordinances for any thing that you might have to do so that you can be on the safe side.
Earning Potential
You can easily sell a custom phone case for about $20 to even a hundred bucks. The price would depend on how complex the case design is. For instance, a phone case that is plain would just cost about $20, while the case that is made with premium materials and is a completely customized case would cost above $100.
#8 Proofreading Business
Do you have language skills or editing skills? Well, there are many people mostly students and businesses that look for proofreading services. And once you get one project, you would keep getting many projects from the same clients and even references from them. And since the editing or proofreading is done on the computer, all you need is an internet connection to connect with the client and a computer, with the skills for proofreading and editing.
Startup Costs
It is very easy to begin your own proofreading company with just $500 or at max $1500. The cost would not be much if you already have a computer, an internet connection and transportation to meet clients (or a way to get projects online).
Legal Considerations
It is advisable to have a powerful and colid service contract that you would have the client sign before you begin the project. This would assist you in avoiding any legal exposure. This would also help you in initiating your business relationship at the right foot.
Earning Potential
The earnings that you get from this can start from about $3 per page, and $25 per hour to whatever you feel is worth your skills. Moreover, the amount also depends on the type of proofreading and the client’s budget as well.
#9 Ebay Entrepreneur
Another one of the great online business ideas is being an Ebay entrepreneur. It is very easy to set up this business and it helps you get started faster. Moreover, being an Ebay entrepreneur, you are free to specialize in those products that you love to make or have, and sell them at a reasonable price online in the niche market.
Startup Costs
In this business idea, the startup costs would depend on the product you want to sell. In case you do not have internet and a computer (which is the main thing needed), you would have to ge one and start your internet subscription for under $500.
In case you have the idea of reselling products, you would need a storage place that would also cost you about $75 monthly. And with this, there is cost of the actual item that you want to sell. Moreover, eBay charges a per-item listing fee. But if you sell more than 50 items in a month, you can choose to pay a monthly subscription.
The ebay monthly subscription is about $19.95 per month if you choose the yearly subscription. And if you chose a monthly one, you would have to pay $24.95 for month-to-month. The highest package has the cost of about $299.95 per month for a yearly subscription, and $349.95 for month-to-month payments.
Legal Considerations
eBay doesn’t allow you to sell some items on it, and you can look for the list on the website. It is better to have a read about the privacy policy so that you do not make a mistake and end up in a legal case. Moreover, if you are an entrepreneur on eBay, you would need to have a resale certificate, that permits you to sell the secondhand items.
Earning Potential
There isn’t any set amount that is earned by an eBay entrepreneur. The amount depends on the price of the profits earned by selling the items on the website.
#10 Data Entry Business
If you want a great way to earn money easily, you can choose the data entry business idea from the online business ideas. But this would only work if you are a person who is good with numbers and has experience in this task. If you can get projects online via platforms like Freelancer, fiverr, and Upwork, you business would be an online one. You can also ask the direct clients to send the information online where you can work at home and provide the work to them then.
Startup Costs
The cost for starting a business like this is very less where all you need is a computer and an internet connection. To get the both, if you do not have, would cost you about $400 to $1000.
Legal Considerations
Even though this business has no federal laws that you have to follow, it is still advised to research to see if there are any local or state laws for this business.
Earning Potential
Normally, the people who offer data entry service charge a “Full-Time Equivalent” fee or an hourly fee. The Full-Time Equivalent (FTF) fee is the flat fee for a month. Depending on the services that are offered, the hourly charges are usually $7 to $10 per hour. On the other hand, the FTE rates begin from $1,000 and can reach to $6,000.
#11 Online T-Shirt Business
This is another one of the online business ideas that is now a popular one where you allow the customers to customize and design a t-shirt to place an order for it then. This can then be printed, sold and shipped to the customer. These designs are displayed on the websites where the audience sees them and purchases them.
Startup Costs
It takes just $100 to start designing and selling shirts. But if you want to directly market your work, it would need more. If you choose to work through websites like the Design by Humans, you would be able to design your shirts and leave the rest on platform to take care of.
Legal Considerations
Just like many of the other creative online business ideas mentioned above, this one too needs the careful use of copyrighted designs or artwork. It is advised to get the permissions before you use any graphics or logos which you did not make on your own. Other than that, it is also good if you get a copyright or trademark to protect your own work.
Earning Potential
The profits that you might make per shirt can range from $3 to $18 per t-shirt. Moreover, the amount of earnings would also depend on the business model that you adopt.
In case you opt to keep your own inventory, and produce the t-shirts with your own equipment, the profit margin would be higher for each shirt sold. Nonetheless, it is a great relief not to worry about the inventory that would would not be able to sell. And this can be easily avoided by using the platforms to sell your designs that would handle all form the shipping to you getting the payment.
Is an online business right for you?
Now that you know about the various online business ideas, do you think launching an online business is what you want or is it right for you? Well, if you are not sure, you need to know that there are many plus points to owning a digital nomad business. Launching the online business is much more easier as compared to the normal company formation.
By choosing one of the online business ideas and opening a company with it, you would save a lot of energy, time and a high amount of overhead costs due to rent, bills and management. Furthermore, your customer reach would not just be in a locality, but can be world-wide since the Internet helps you connect with customers all over the globe.
In short, why limit yourself to serving people around you when you can offer your products or services to people all over the world. As a matter of fact, you would be able to work anywhere and anytime as you want. It can be in a coffee shop, in the Caribbean or even at home, and you would easily be able to keep up with your clients. All you need is a proper management and great tools that would help you in managing your inventory and getting things done with your team.
What makes an ideal online business idea?
A little part that appeals people to begin an online business is the flexibility. Many people love the idea where they can easily set their own schedules and work from the comfort of their home or as they want. But that is not all that makes these online business ideas worth a try. The benefits mentioned above lets us understand the difference between a traditional business and an online one. And it is obvious that the online business is a great idea.
So, select the one that you like from the online business ideas mentioned above and open your way into the freedom of working on your own terms. And when you are ready with everything and want your business incorporated in Nevada or Delaware, contact IncParadise to register your company and begin your entrepreneurial journey.