Different Types of Online Businesses to Start
So – you know you want to have your own business, but you are having a tough time deciding just what kind of business to start.
Let’s take a look at the options out there, so you can narrow down your choices.
- Developing a Business from Scratch – This type of business is where you do it all. From developing a product to creating it and then selling it, this is a business that is all you.
While this is a high-risk, high-responsibility venture, you also have the best chance of being rewarded for your work with higher profit margins.
- Affiliate Program Business – Even if you don’t have your own product to sell, you can still have a business that you believe in and that is successful.
Affiliate programs are those where you refer customers to products you want to sell. Every time a sale is made from your referral, you get a small commission.
Companies like Amazon.com offer affiliate business opportunities.
- Direct Sales Business – From Mary Kay to candle companies, you have likely seen or heard of direct sales businesses in the past.
These are companies where you sell products from another company. You show the items for sale to potential customers on your website and take their orders. The company ships the items, with you getting a cut of the purchase price.
- Resell Business – In this type of business, you are in charge of the product line and purchase items to sell at wholesale pricing.
This means you get the markup percentage as a profit, not just a commission. But you will also be responsible for keeping inventory warehoused and shipping items to customers when they are purchased.
Select the type of business you want to run, and you will take your first step towards you new life as an online business owner.
