We are almost halfway through 2022 and, if you haven’t yet, it is time to start building a new income stream. An extra stream of income can give you more money to invest, save, pay off debt, and help you reach financial freedom sooner.
Luckily, it has never been easier to start a business from your home. Anyone with an internet connection and a cell phone or laptop can start earning money today. So, in this article, we will be discussing the top 5 best online businesses that you can start in 2022.
- Open A Dropshipping Store
Per Digital Commerce 360, Americans spend $871.03 billion online shopping in 2021. That represents an increase of more than $100 billion over 2020s sales. With this first online business, you can take advantage of this growing industry and get your piece of the pie. Of course, we are talking about dropshipping.
Dropshipping has been one of the top online money making methods for years now. With good reason too, it is super simple to start and you don’t have to worry about managing inventory. Several online website builders specialize in helping you create your dropshipping store, so it has never been easier to get started.
With dropshipping, you build your storefront, take customer orders, then a third-party retailer or wholesaler handles the backend and your fulfillment on your behalf. Your profit comes from the spread between the price that you sell the item for and the price that the retailer sells the item for. So, your prices have to be higher than your supplier to be profitable.
- Social Media Management
Next up is to become a social media manager. Over 233 million Americans regularly used social media sites in 2021 and that number will most likely increase in 2022. For brands, having a strong social media presence is a must. They can leverage social media to find new customers, increase their brand image, and as a free marketing opportunity (Don’t believe us? Check out Steak Um’s Twitter).
And that is where you come in. Many companies struggle to maintain their social media image and presence. This is especially the case for small and fast growing businesses. Often the owners are too preoccupied by the day-to-day needs of the business to focus on social media. You can offer your services as a social media manager and make hundreds to thousands per month from just a few regular clients.
- Become an Influencer
2022 is the year of the influencer economy. People are making a lot of money from Instagram accounts, Youtube channels, and Twitter accounts. You don’t have to be a lifestyle influencer to make money either. Almost every industry, niche, and topic have markets online that you can tap into.
Once you grow a following (and it does not have to be very large, some we have spoken with people are making sales with 50 followers), you can make money with affiliate marketing, paid advertisements and posts, or with ad programs like Google adsense. The possibilities are endless.
- Start A Clothing Line
If you have an eye for fashion and are good at design, starting a clothing line could be for you. This is going to be a short description:
-Make designs for free with Canva
-Upload them to RedBubble and make a storefront (free)
-Promote them on social media (free)
It may take some time to start generating sales, but the process is free and easy to start.
Last on this list is freelancing. Most likely, you have a skill that others don’t, whether it be writing, editing, digital design, being able to speak multiple languages, or something else. People will pay you for that skill. Hop on freelancing sites such as Fiverr and UpWork, make your profile, and start finding work.
Today is the best day to start your new online business. A second income stream can change your life and it has never been easier to start one. Whether you want to build a brand or start working and earning today, your possibilities are endless.
Make sure to keep checking back here each week for more business, passive income, and FI/RE ideas and inspiration.