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41 Online Business Ideas You Can Start in 2023

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Setting up an online business can help you become an entrepreneur without significant startup costs. The first step: figuring out the best online business idea for you.

What do you have expertise in? What do you love to do? Do you know someone who needs a type of support you could provide? Answering questions like these can offer inspiration as you prepare to start a business .

Here are 41 online business ideas to help you brainstorm. From side hustles to full-time enterprise, e-commerce businesses to services for remote clients, you may be able to run these from home on your own schedule.

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The 41 best online business ideas

If you're not totally set on going all-in on your online business, many of these ideas can be started part time. As you build your side hustle, it may be successful enough to turn into a full-time gig .

1. E-commerce store

Starting an e-commerce website is relatively easy and cheap — at least when compared with opening up a brick-and-mortar store. You can start with a limited amount of inventory, use an e-commerce website builder to set up your store, then market your products on social media and online marketplaces and see how customers respond. These platforms can also help you manage orders, ship your products and take online payments.

2. Social media marketing

If you’ve got a knack for getting likes, favorites, retweets, followers, shares, comments and clicks, then you might want to consider offering social media marketing services to other businesses. By consulting with companies to manage their social media profiles, spread their content across the web, keep their brands on track and respond to customer questions, you can turn your favorite hobby into your day job.

3. Freelance graphic design

Got an eye for aesthetics? Did you go to art school, or have you always spent your free time designing posters in Photoshop or Illustrator?

If so, then freelance designing might be a good choice. Take on clients at your own speed, build up a good reputation online and by word-of-mouth and work on projects that you find interesting.

4. Freelance writing

If you’re skilled in words instead, you might become a freelance writer . So long as you’ve got an internet connection and a keyboard, you can contribute all types of written content, from blog posts to feature stories to product descriptions. It helps if you’ve got a special area of interest or expertise so your employers will know you’re qualified to comment on certain topics.

» MORE: Best bank accounts for freelancers

5. E-book writing

With Amazon and other websites around, self-publishing has never been easier than it is today. If you think you’ve got something interesting or useful to say — and you believe other people will think so, too — then writing e-books could become a lucrative business.

With e-books, you don’t have to design, print or ship physical copies of your work. Of course, you will have to learn how to format an e-book correctly, pay for editing and cover design services and figure out an effective marketing strategy — but there are plenty of examples to learn from.

6. Translation

If you’re fluent in multiple languages, then translating could be the ideal online freelance job. You can do it from anywhere, so long as you’ve got the text you’re working on and you understand the goal of the translation.

» MORE: Check out 16 other e-commerce business ideas

Editing comes in many shapes and sizes, from copyediting a company’s marketing materials to proofreading novels to indexing academic manuscripts. As long as you have a sharp eye for detail, a strong grasp of grammar and a willingness to get in the weeds, then editing could be a great business idea if you’re interested in working when and how you want.

8. Writing a blog

Starting a blog can support other online business ideas by showing off your skills. Interested in coding, photography and video, fitness, food or anything else? Demonstrate your knowledge by writing great articles on those topics for others’ blogs.

If you choose to start your own blog, it can also generate revenue itself through affiliate links or advertisements.

9. Freelance researching

Whether you’re putting together documents for competitor or market research , answering tough technical questions on forums or analyzing statistics to point out trends, you can put your skills to work for your clients — with the freedom to work how you want.

10. Freelance coding and web design

If you’re seeking flexibility, diversity of projects, taking on work at your own pace and being your own boss, then freelance coding or web design for clients may be a good fit.

Plus, you can double down as a software consultant as well, offering your critical eye and expertise without writing code yourself.

» MORE: Best business credit cards for LLCs

11. Software and app development

Want to take freelance coding to the next level? Instead of helping clients, you can work on your own applications, programs, extensions and add-ons. Whether you sell your work in an app store or you’re holding out for the long haul and are hoping to get bought by a bigger company, the cash you make will be a direct result of your effort and ingenuity. App development is also a way to make money on Shopify .

Keep in mind, it’s not as easy to have a predictable stream of revenue until your app is already out and selling, and by then you’ve already invested a lot of time and energy. You’ll want to be sure that there’s a market out there for the product you’re creating, and that people are willing to pay for it.

12. Business coaching

You’ll need a good track record and a variety of testimonials to back you up, but if you’re already an entrepreneur, business coaching can provide an additional revenue stream. You can offer one-off sessions, small-group experiences or ongoing client relationships at a variety of price points.

13. College consulting

If you went to a top-tier university and have strong writing skills, you may be able to help applicants seeking admission to elite colleges. You might find yourself editing essays, steering students toward test prep courses and recommending scholarship programs, among other things.

» MORE: How to start a consulting business

14. Tutoring

For those studious entrepreneurs who scored highly on standardized tests, tutoring can pull in a lot of money without too much effort. The better your results, the better your reputation — which means the more you can charge per hour, session or package.

15. Online fitness trainer

If fitness and health is your passion, then serving as a fitness trainer to clients could be a fulfilling career. While training people online can be more difficult than being with them in person, this is an increasingly popular option for busy professionals. You can also consider related services like nutrition education.

» MORE: A step-by-step guide to starting a fitness business

16. SEO consulting

Maybe you’re a pro at SEO, or search engine optimization. If you’ve got loads of skill and experience in getting websites to rank highly on Google, and you understand how to turn searchers into customers, then there are plenty of companies willing to pay handsomely for your help.

Whether it’s by editing metadata tags, regularly updating the company blog or searching for smart keywords to rank highly on, a good SEO consultant can drastically change how a company’s website appears to search engine users — and just a few positions on Google can make a huge difference in traffic numbers. In short, you could have a big impact on a business’s bottom line, which means this online business idea is in high demand.

17. Selling handmade goods

If you’re handy or creative, you could craft your products and sell them on sites like Etsy, Amazon and eBay, straight out of your home.

Beyond that, if you’re a visual artist, you may also try selling print-on-demand products. That’s a type of e-commerce business where customers order mugs, T-shirts or other goods and with your artwork printed on them, then a third party creates the product and ships it to the customer.

18. Virtual thrift shop

Maybe you’re not into handicrafts but the idea of an starting an online store is still appealing? Selling clothes online using platforms like thredUP and Poshmark is one option.

If you're more interested in other types of products, you can scour local estate sales and secondhand shops for unique finds. You may also discover good finds on websites like eBay. As you present these products in compelling ways on your own site, good copywriting and a strong brand can go a long way to separating your site from the crowd.

19. Affiliate marketing

Social media pros, take notice: You can get paid by companies to highlight products on your blog, Instagram, Twitter, YouTube or other social channels. The more followers or site visitors you have, the more of an impact your brand recommendation will make, and the more you’ll earn with product placement.

20. Accounting or bookkeeping

Although entering the industry as a virtual bookkeeper or accountant can be tough because of competition from well-known brands in the industry, it can be done if you have the credentials or target clients in a specific niche. You’ll also need formal training and certification, and it may take time to build up a committed client base — but once you do, your clients may be with you for years.

» MORE: See our picks for best small-business accounting software

21. Telemarketing

If you’re a natural conversationalist who likes helping others, virtual telemarketing is another good online small-business idea to consider. Plenty of companies outsource some of their sales and customer service roles, so if you don’t mind working the phone at home or on the go, then try this option out.

22. Online personal assistant

Thinking about becoming a virtual assistant ? What exactly you’ll do depends on what your skills, experience and network of contacts are, but you can expect tasks from data entry to customer management, research, scheduling and other duties.

23. Data entry

If you’re looking for a job that offers a predictable income without requiring intense creativity, then data entry might be a good place to start. Try looking at online job boards for opportunities.

24. Transcription

Offering transcription services online can take many forms: You can transcribe audio interviews for reporters, create captions for TV shows and videos or develop transcribed versions of podcasts. Services like Rev or TranscribeMe can also send you work as it becomes available, which saves you the work of cultivating your own client base.

25. Travel planning

If travel is your passion, you might consider starting an online travel planning business . You can help clients plan every aspect of their trip — from flights to hotels to activities. You can work on itineraries, give tips about food, currency exchange and safety, and serve as a point of contact between your clients and any international contacts.

Not only can you operate your travel planning business at home, you can also do it while you travel. And more traveling will help you grow your business — you might even start a travel blog or photography site to supplement your planning business.

26. Cybersecurity and IT consulting

As a cybersecurity consultant, you can work with businesses of all sizes to evaluate their systems, run testing and offer tips on how they can improve their set up.

For those looking for something broader, you might consider serving as an IT consultant, assisting businesses or individuals with their technology — helping them get it set up, troubleshoot any issues and offer general operating advice.

With the proper computer set up, you can run your cybersecurity or IT consulting business from anywhere — including potentially traveling to clients’ offices for occasional on-site system assistance.

27. Online therapy

With the emergence of companies like TalkSpace and BetterHelp, you no longer have to have an office or your own practice to counsel patients. Again, you’ll need training and proper credentials. But you can explore the online therapy space by joining one of these new companies or another practice that offers virtual appointments.

28. PR consulting

If you're knowledgeable about business branding and marketing, you might start an online PR consulting business. You can assist businesses with their online presence — including social media accounts, press releases, web content and more — as well as advise them on campaigns, initiatives and overall public image.

As a freelance PR consultant, your hours and responsibilities may vary depending on the specific clients you're working with; however, you'll have more control than you would as part of a firm or agency.

29. Podcasting

Provided you have the right audio equipment and a quiet space, you can record your podcast from anywhere. You can then upload your content to various podcast apps and market your business on social media. Once you reach a certain number of listeners, some podcast platforms will help you sell ads and you'll begin generating revenue.

30. Life coaching

Looking for a way to offer advice and guidance to people without needing the extensive education of a medical professional? Consider life coaching . Although you may need a certification to become a life coach, you have much more freedom to find your niche and decide how you can help people through life's ups and downs.

As a life coach, you can also create resources like e-books and courses to give your clients additional resources outside of traditional phone call or video chat meetings.

31. Video production

As a video producer, you can work with different clients in various industries to shoot, cut and edit video to create the perfect final product. Video production can give you the opportunity to explore a unique medium of storytelling and exercise your creativity.

32. Resume writing and career coaching

If you have a background in human resources, or just know your way around formulating the perfect resume, you might consider starting an online resume writing and career coaching business. You can offer clients advice and guidance on their career path, job applications, resumes and cover letters.

LinkedIn is a great place to get started with this type of online business idea, as many professionals look for career help on that platform.

33. Dropshipping

If you don't want the responsibility of creating your own products or buying inventory upfront, you might consider starting a dropshipping business. With this kind of e-commerce operation, you create your own website, choose products from suppliers, list them on your site, and when an order is placed, the supplier will ship them directly to the customer.

You can get started by browsing dropshipping marketplaces or trying to work directly with manufacturers and importers.

» MORE: How to dropship on Shopify

34. Recruiting

If you're a people person and have good online research skills, you might consider a career as a recruiter. As an online recruiter, you can service different businesses looking to hire new employees and help them find and screen candidates. The more experience you have, the higher-level positions you may be tapped to help fill.

35. Marketing consulting

As a marketing consultant, you can provide guidance on a wide range of topics, depending on your specific expertise, and help businesses execute their online marketing strategies and campaigns. This could include email marketing, social media management and advertising, local marketing , event planning and more. You can specialize in a particular industry or geography, or market your skills to a variety of clients using a network like Upwork.

36. Online fundraising or grant writing

Are you passionate about helping mission-based businesses, especially nonprofits, getting the assistance they need? If so, consider a grant writing business. This requires you to work with clients who need help fundraising to identify grants suited to their needs, then apply for and hopefully win them.

37. Online course teaching

You can find information about practically anything online, but sometimes when you're trying to learn a specific skill or topic, it just helps to hear or see someone else explain it. So if there’s a subject you have specialized knowledge of — a particular software program, a craft, a particular historical event — consider designing an online course. If you have formal qualifications like an advanced degree, you might be able to work with an online course service to teach courses online for their students.

38. Online cooking instruction

Do you have an affinity for cooking or baking? Showcasing your skills online via virtual cooking classes is a great way to earn money while doing something you love. There are a variety of ways you can structure your cooking business: You can offer one-on-one instruction videos, host live classes and even create workshops and cooking programs.

This easy business idea could even translate into a cooking blog, e-books, cookbooks and linking your favorite cooking and baking supplies through affiliate marketing.

39. YouTube channel

One way to promote your new brand, service or message is by creating a YouTube channel. If you feel comfortable on camera, have a spot where you can film and love the idea of reaching a wide audience, YouTube might be the right platform for you. Note, though, that it can take some time for your channel to grow and you'll likely need to network on social media and blogging platforms in the beginning.

» MORE: How to make money on YouTube

40. Voiceover work

To start your own voiceover business, you'll need a microphone, sound editing software and the ability to lend your voice to ad agencies, production companies and anyone else looking for a voiceover.

Then, you can sign up for a freelance voiceover site like voices.com and start searching for the right opportunities. Once you've gotten your foot in the door, you'll have excellent clips to show potential clients.

41. Start a team

If you've been freelancing or running your own company for a while, you might be ready to take the plunge and start your own team of consultants or freelancers. For instance, if you have years of writing and editing experience and can no longer handle all your client inquiries yourself, you might be ready to hire your first employee and expand your capacity.

How to choose an online business idea

These online business ideas represent a variety of e-commerce business models . To choose the right one for you, ask these questions.

How do you want to make money?

Lots of business owners seek out predictable, recurring revenue so they can plan their personal finances. Keeping clients on retainer can help with that. But affiliate marketing, advertising or product sales may be harder to predict. Creating a business plan can help you think through your options and decide which you’re comfortable with.

How will you find work?

If you’re selling your skills as a freelancer, consider searching sites like Upwork and Behance to find the right clients. Networking in your local community, joining industry-specific LinkedIn groups and asking for referrals can be helpful, too.

If you’re selling products or building an audience online, you’ll need different tactics. Search engine optimization can help get your videos or product listings in front of people who will be interested in them. But you may need a significant marketing budget to develop an audience that’s large enough to generate revenue.

How much autonomy do you want?

With some online businesses, like selling handmade goods or creating online courses, you’ll have control over your products from start to finish — which can be freeing but also high-pressure. On the other hand, when you’re producing work for clients, you’ll have to conform to the client’s standards — which may feel confining, but you won’t have to do the work of coming up with ideas yourself. Some solopreneurs aim for a mix of client work and self-directed projects so that they have steady revenue while pursuing their passions.

A version of this article originally appeared on JustBusiness, a subsidiary of NerdWallet.

On a similar note...

BUSINESS STRATEGIES

Top 22 online business ideas to start in 2024

• Cecilia Lazzaro Blasbalg
• 17 min read

Get started by: Creating a website →  | Getting a domain →

Whether you’re looking to establish a full-blown operation or start a side hustle to your day job, launching an online business has never been easier. As you create a website , you’ll help your online business get more exposure, stand out from the pack and engage your audience.

As you look to enter the ranks of today’s successful entrepreneurs who are diligently serving millions of customers around the world, it is vital to find an online business idea that matches your skills or strengths. After all, you’re likely to connect better with your customers vis-a-vis meeting their needs in the best possible way.

Researching the right business idea for yourself may seem like a big time commitment, but don’t worry. There are some great examples already underway to help you get started selling online . To ensure you're in the know, we’ve compiled the top 20 online business ideas that you can start right away, with in-depth explanations of what each one entails.

Top 22 online business ideas in 2024

Web designer

Affiliate marketer

eCommerce retailer

Dropshipping business owner

App developer

Facebook ad specialist

SEO consultant

Social media consultant

Online course instructor

Webinar guru

Technical writer

Remote tech support

Virtual assistant

Subscription box curator

Resume and cover letter writer

e-book author

Transcription services

01. Blogger

For writers and anyone with a passion or expertise to share, creating a blog might be the right fit. While the definition of what is a blog includes everything from travel journals to specialized industry ones, all blogs share some commonalities. Blogs are regularly updated websites that cover information, opinions or insights around a certain topic.

A successful blogger is someone who knows their niche, and is thus able to build a good blog with a clear focus. Blogs are low-investment spaces where you can foster a solid readership in a specific area, by providing critical content that keeps visitors coming back.

As a creator of high-quality content, you can begin thinking about how to monetize a blog, turning yours into a potential moneymaker. One way to make money as a blogger is through your ability to attract relevant advertisers with the help of your loyal fanbase. You can host an ad space, sponsored posts, offer products for sale and more - all of which would require minimal effort on your end. This makes blogging a very scalable business idea.

Another option might be to offer paid services in the forms of personal consultation or coaching. One-on-one sessions can complement your blog and reaffirm your expert voice in the field. Additionally, you could consider repurposing your content into paid online courses, e-books or webinars (more on those below). After all, a successful blog should continually drive community engagement.

Looking to start a blog? Wix has got you covered with thousands of design features, built-in SEO and marketing tools, that will allow you to scale your content, your brand and your business with a blog maker.

02. Web designer

Business owners are often looking to improve their online presence. If you’re a creative and technical person who enjoys building web pages and taking website design to the next level, then consider teaming up with clients whose sites need that professional touch.

Armed with a passion for fonts, color palettes and a seamless user experience, you can begin promoting yourself as a freelance web designer for small and local businesses. Whether you’re building a website from scratch or giving an existing one the ultimate makeover, every experience you gain will help raise your credibility and enrich your portfolio .

03. Affiliate marketer

If you’ve built a substantial online audience or following, you may want to look into affiliate marketing and how you can use it to monetize your content. As an affiliate marketer, you’d team up with a business to market their products or services by recommending or sharing them to your fans. Affiliate marketers earn a commission each time they convert any of their followers into purchasing the brand’s products through a unique referral link, known as an affiliate link.

When considering which affiliate program is right for you, look for one that suits both your interests and that of your target audience. Try to find a brand that you believe in or would be happy to endorse. In addition, double check that the product or service that they offer has a good enough demand. There are many affiliate programs out there, including Amazon Associates , ShareASale and the Wix Affiliate Program , so you might want to take a moment to research them before you reach out.

Once you’re signed up, you can begin promoting the affiliate content alongside your day-to-day materials which your followers have come to expect. There are different ways to promote your affiliate products to your readers without coming off as too spammy. One method is to try incorporating the product recommendations into a blog post, tutorial or video using relevant and engaging content. Be creative and think of new ways to adapt your marketing strategy to yield the most profit.

You can also choose to start this as a part-time business idea before committing full time once it becomes successful.

According to Guy Josipovich , Online Partnerships Manager at Wix.com,

"Companies entrust their product and reputation to their partner's hands. Therefore, it’s not surprising that trust is critical for a successful long-term partnership, together with proven professional skills such as analytical abilities, understanding of marketing principles, and good time management."

04. eCommerce retailer

Running an eCommerce website allows you control over every aspect of your business, from accepting secure online payment, to managing order fulfillment, to advanced marketing tools and an optimized shopping experience.

With many business capabilities, all that’s left is to ask yourself what things to make and sell , since picking the right products for your online store will be the core of this eCommerce business idea . When choosing which products to sell, let your skills and experience guide you. You can confirm your choice by conducting a thorough market research.

Knowing how to start an online business in your niche market means listening to your customers. On your site, it’s important to maintain clear communication with your customers in the form of live chat, a forum, email marketing and more.

Learn more about how to make an eCommerce website .

05. Dropshipping business owner

Some business owners may like the idea of running an online store, but don’t want or have the capacity to store inventory. For these cases, there’s an alternative way when considering how to start a business on a budget - dropshipping .

With dropshipping, you can sell products on your business website without managing your own inventory. Instead, you can send customers’ orders to a third-party retailer. This eliminates the risk of stocking up on pricey products, or finding out that the products in your inventory are no longer marketable.

Without needing to attend to a warehouse or a different physical location of your inventory, you can run your dropshipping business from wherever you have WiFi. This also allows you to expand your product offering and sell niche products , since you won’t be limited to what’s in an inventory.

Additionally, operating a dropshipping business frees you to adjust your merchandise by experimenting and testing with it, keeping your offering up with the latest eCommerce trends. If something isn’t selling, you’ll be able to change your offerings on the spot.

Learn more:

Dropshipping business ideas

Coffee dropshipping

Beauty dropshipping

Reverse dropshipping

Automated dropshipping

Jewelry dropshipping

Digital dropshipping

Clothing dropshipping

Sticker dropshipping

Pet dropshipping

Branded dropshipping

White label dropshipping

T-shirt dropshipping

Candle dropshipping

B2B dropshipping

06. App developer

Seeing that the number of apps downloaded in the last year hit an almost 200 billion , the app business is officially a tour de force. Perhaps it’s time to get your cool idea for an app set into motion.

If you haven’t any prior experience in app development, you'll need to pick up a couple of common programming languages, like Python, JavaScript or iOS, and know some basic software design.

On the other hand, even without a coding background, you can always collaborate with an experienced app developer on your idea.

It helps if your app idea is backed with thorough market research. Would your app offer something new to the competitive market, or are there others like it? This step is best taken before investing any money.

Learn more: AI business ideas

07. Facebook ad specialist

What individual hasn’t used Facebook already? In the small business sector, however, there are many veteran business owners who aren’t successfully tapping into the plethora of resources that the social media giant has to offer. The solution for many is to hire an expert on Facebook advertising.

Known as Facebook ad specialists, their goal is to collaborate with clients to help them plan, measure and execute paid marketing campaigns on Facebook. As a hired expert, you’ll be able to help your clients optimize their digital marketing and advertising, allowing them to reach their core audiences. Facebook ads are targeted to users based on location, demographics, and interests, making it easier to find the right niche.

You might want to start contacting businesses that already have a Facebook presence and offer your services to help create masterful Facebook ads.

08. SEO consultant

SEO stands for search engine optimization. SEO is the process of optimizing websites so that they rank better on search engine results, such as Google and Bing, which could ultimately drive more traffic to the site.

Becoming an SEO consultant includes learning highly profitable skills in online advertising platforms like Google Ads and Google Analytics, as well as the need to be at the cutting edge of Google’s algorithms.

As someone who is familiar with the number of ways to boost a site’s SEO, you will be an asset to any business looking to improve their online presence.

09. YouTuber

For some of us, starring in or directing our own videos is a dream come true. You may feel your best in front of the camera, have stories to tell or simply want to educate others about a specific topic using visual content. Whether you’re looking to start your own YouTube channel or simply like to vlog, there could be a great money making opportunity coming your way as your viewership grows.

There are several effective ways you can begin to make money on YouTube. They include becoming a YouTube Partner, selling merchandise, or venturing into affiliate marketing. You can experiment with any of these options to find the best fit for you and your audience.

10. Social media consultant

While corporations operate with full-time social media experts on their payroll, most small businesses not only lack this luxury, but may not even have a Facebook, Twitter or Instagram account.

As many shoppers turn to these popular platforms for their consumer needs, business owners might want to seek the assistance of a social media consultant to help them determine the best social media marketing strategies. These experts will help create and schedule posts to target potential customers, and more.

As a social media consultant, you can help online businesses choose the right platform for their target audience. From Facebook, the world’s number one social media network, to Instagram, known for its visual storytelling features, and LinkedIn, where professionals go to network, each channel comes with different audiences and needs.

11. Podcaster

Podcasting is for those who can articulate a passion or certain topic they know well. In case you weren’t already familiar with this business idea , a podcast is an episodic series of audio recordings around a certain topic or topics.

Though starting a podcast can be one of the best businesses to start with little money using free recording and editing software, you might want to invest in a good-quality microphone. Your listenership will depend on the quality of your audio content and your ability to establish an expert voice in your area.

Bringing special guests to your podcast is one low-cost way to help promote your show. Once your show reaches more people and your subscribership grows, your podcast could have the potential to attract advertisers and ultimately become profitable.

12. Online course instructor

Is teaching a passion you’ve always wanted to pursue but never had the time to? Creating an online course is one way to share your knowledge while generating passive income, with little investment up front. In order to become an online course instructor, you’ll first need a website or platform from where you can host and stream your classes.

To get your online course started, you’ll want to focus on a specific topic that you know well. It can be anything, from women authors of the 19th-century to logo design. You’ll also need to give yourself a reasonable amount of time to build your course and plan each lesson.

If you already have a blog, website or video channel, then offering online courses as an added service may complement your published work and help you reaffirm your authority in your field.

13. Webinar guru

People often come to you for advice or tips, as you’ve become known by many as that person who has all the right answers. Although teaching an online course seems like a natural step to take, you may not have time to do it for an entire semester. Hence, one possible online low-cost business idea would be to create a webinar.

Webinars are online presentations often held in real-time, or simply put, an online event. The most direct way to make profit from your webinar is to charge a fee for attendance. You could also make money from a free webinar by offering a paid product at the end.

The shorter, the better: A webinar tends to run between 30-45 minutes, capitalizing on full engagement. In most cases, you can organize your webinar to best suit your schedule, as attendees are able to access your event from home.

14. Copywriter

A copywriter is someone who writes engaging text or “copy” for the purpose of marketing or advertisement to increase a client’s message or brand. A good copy is meant to motivate readers to spur into action. Those who share a passion for creating good and clear content know that to master copywriting takes a lot of practice and skills.

Start by searching the web for copywriting listings. There are many new opportunities arising each day. A freelance copywriter can determine their either rate per hour or per word count. The pay rate may also increase as your experience does too.

Small businesses looking to expand their web audience need quality online content, and would benefit greatly from employing the services of a skilled copywriter. A diverse writing portfolio, covering different types of content, would help you attract a wider range of clientele.

15. Technical writer

There are situations when content needs to sound technical rather than creative. Think about the importance of manuals at certain points in our lives, like when we need to assemble an Ikea bookshelf or when we start a new medication. A technical writer deals with this line of work clearly and eloquently.

Once you’ve decided what industry you’d like to pursue - health, engineering or technology - it will be easier for you to focus on building your specialization.

Potential clients of technical writers may be corporate and pharmaceutical companies. Although it might feel you have bigger fish to fry as a technical writer, there are fewer of your kind in the general writing sphere. The odds are in your favor.

16. Remote tech support

Sometimes a small business has to outsource technical assistance because of budgetary issues or space constraints. If you have a solid background in IT and enjoy working from home, you can set up a paid tech support service for your local businesses.

Aside from bringing in a nice stream of revenue, a remote tech support operation is a great home-based business idea . In fact, it can even be run using little more than a mobile device. For more on how to make money from home , check out our guide.

17. Virtual assistant

Businesses and individuals alike often require extra support in managing their emails, drafting templated responses for diverse inquiries, social media channels and daily schedules. A virtual assistant is someone who can fulfill these tasks and support them remotely, making it one of the most accessible online unique business ideas to start now.

Unlike an office assistant who performs administrative and clerical duties only, a virtual assistant will cover these traditional tasks while offering a multitude of other services, including everything from content creation to website or project management. In the role of virtual assistant, there is plenty of room for creativity and personal growth, allowing you to add or change your services depending on your availability, client demand or interests.

You can also choose your clients and area of industry. Take advantage of the number of online tools, from file sharing to virtual calendars, that are available to help you perform most assistant tasks without investing a lot upfront.

Tip: How to start a virtual assistant business

18. Subscription box curator

Have you ever been told that you give the best presents in your family? Creating that perfect gift-giving moment may be something important to you. Selling subscriptions requires that same attention to detail and love for delivering smiles.

When curating a subscription box, you won’t necessarily have to create your own merchandise if you don’t choose to. There are so many unique and creative products you can find online and curate into your boxes. Most successful subscription boxes work around a certain theme, making them compatible with their target market. For example, adults may prefer wine and children can’t resist colorful candy.

Remember that subscription boxes are often purchased as gifts to others, so it’s worth changing or adding your offerings to reflect the times or trends. This can also be a great family business idea or a fun business idea for couples .

Tip: How to start a subscription box business

19. Resume and cover letter writer

Writing resumes and cover letters is in-demand. Even though the typical word count for a professional resume or cover letter does not reach more than 400 words, the work of a resume and cover letter writer is essential and everlasting.

Your target audience is any individual looking for a job, leaving you free to work with any number of clients. Be sure to provide successful writing samples you’ve worked on in the past to potential customers, or share links to online resume websites that you’ve created. This allows you to show off your skills and rich industry jargon for any market or niche.

20. e-book author

While few writers manage to get published in their lifetime, many new authors are already making their e-book debut amid the digital products , specifically book market boom.

Self-publishing your book has never been more affordable or effective, using a number of options including Apple Books , Smashwords and Amazon , which will help you with the post-production aspects of distribution and sales.

Consider investing in an editor or proofreader and an illustrator to make your book more marketable. As a writer, breaking into the category of e-book author is one online business idea that could help you succeed in your industry.

21. Sell NFTs

Selling Non-Fungible Tokens (NFTs) has emerged as a groundbreaking avenue for creators to monetize their unique content. NFTs are blockchain-based tokens that authenticate the ownership and rarity of digital files, including artworks, music, videos and more. By tokenizing their creations, artists can offer a sense of exclusivity and ownership to their audience, fostering a new era of digital collectibles.

One key advantage of selling NFTs lies in the ability to directly connect with a global audience of collectors and enthusiasts. The blockchain ensures transparency and authenticity in ownership, allowing creators to establish a direct relationship with their supporters. Additionally, the smart contract functionality embedded in NFTs can enable creators to receive royalties automatically each time their token is resold, providing a sustainable revenue stream over time. This decentralized and borderless nature of NFT transactions has democratized the art and content creation industry, empowering creators to reach a broader market without traditional intermediaries.

While NFTs present exciting opportunities, navigating the space requires careful consideration of market trends, pricing strategies and community engagement. Building a strong online presence, leveraging social media and participating in relevant online communities can help creators showcase and sell their NFTs successfully. As the market continues to evolve, staying informed about emerging platforms and technological developments will be crucial for creators looking to thrive in the dynamic world of NFTs.

22. Transcription services

Transcription services helps provide accurate and timely conversion of audio and video content into written form. Transcription services cater to a broad range of industries, from media and legal to academic and corporate. As businesses increasingly rely on digital communication, there is a growing demand for skilled transcriptionists who can efficiently transcribe interviews, meetings, podcasts and various other audio materials. Online platforms and freelance marketplaces offer opportunities for transcriptionists to connect with clients globally, making it a flexible and accessible business option.

One specialized area within transcription services that tends to get paid the most is medical transcription, a critical component of healthcare documentation. Medical transcriptionists transcribe dictated recordings made by healthcare professionals into written documents. Individuals with a background in healthcare or specialized knowledge of medical terminology can carve a niche in this field, ensuring that healthcare providers have clear and precise documentation of patient interactions.

If you want to offer transcription services, building a reputation for reliability and confidentiality is crucial. Make sure you effectively communicate with your clients, stick to deadlines and use transcription software and tools to boost your chances of success.

Tips for starting an online business

Choose a niche. When you're coming up with a business idea, you should figure out what you're passionate about and what you're good at, as well as what problems you can you solve for others (for example, if you're crafty, you can sell crafts online ). Once you know your niche, you can start to focus your marketing efforts and build a community around your products or services.

Do your research. Before you launch your online business, it's important to do your research and understand the market you're entering. Make sure you know who your target audience is, what their needs and wants are and what your competitors are doing.

Create a strong online presence. Your website is your online storefront, so it's important to make sure it's well-designed, easy to navigate and mobile-friendly. You should also create social media profiles for your business and actively engage with your audience.

Provide excellent customer service. This is one of the most important factors in building a successful online business. Make sure you're responsive to customer inquiries, resolve issues quickly and provide friendly and helpful support.

Start small and scale up. There is no need to start your online business with a huge investment. You can start small and scale up as your business grows. Remember that it takes time and effort to build a successful online business, so don't get discouraged if you don't see results immediately.

Most popular online business ideas

In 2024, the most common online business ideas are expected to include:

E-commerce stores: With the continued growth of online shopping, e-commerce businesses selling a wide range of products are likely to remain popular. Niche e-commerce stores focusing on specific product categories or offering personalized shopping experiences may also thrive. In 2024 it's expected that 21.2% of all retail sales will happen online, making online shopping and ecommerce stores a continuing trend.

Online education and training : The demand for remote learning and upskilling is expected to drive the growth of online education businesses. To date it's believed that US higher education facilities enroll over 1.1. million students , a number that is growing. Platforms offering courses, tutorials and certification programs in various fields are likely to be in high demand.

Digital marketing agencies : As businesses increasingly rely on digital marketing to reach their target audience, digital marketing agencies offering services such as social media management, SEO, content marketing, and online advertising are expected to be prevalent.

Subscription-based services: Subscription-based businesses offering products or services on a recurring basis, such as streaming platforms, meal kit deliveries, and subscription boxes, are anticipated to be more common due to their convenience and recurring revenue model. These types of businesses are expected to generate income of $904.2 billion by 2026 maikng them a huge growth potential online business idea.

Online business idea trends for 2024

Ecommerce and online selling.

Personalized shopping experiences: Using AI and machine learning to tailor product recommendations and provide personalized shopping journeys.

Virtual try-on technology: Allowing customers to experience products virtually before purchasing, reducing returns and improving customer satisfaction.

Social commerce: Leveraging social media platforms for product discovery, purchase and customer engagement.

Digital subscription services

Subscription boxes: Curated boxes delivered monthly or quarterly, offering a variety of products and experiences tailored to specific niches.

Streaming services: Expanding beyond entertainment to include fitness, education and other lifestyle content.

Membership programs: Providing exclusive access to perks, discounts and personalized experiences for loyal customers.

AI-powered businesses

Chatbots and virtual assistants: Providing 24/7 customer support, automating tasks, and enhancing website functionality.

Predictive analytics: Using AI to analyze data and make informed decisions about product development, marketing campaigns and inventory management.

Automated decision-making: Empowering systems to make decisions without human intervention, improving efficiency and reducing bias.

Remote work and collaboration

Virtual workspaces: Creating online platforms that facilitate remote work, team collaboration and communication.

Online meeting tools: Enabling seamless video conferencing, screen sharing and collaborative document editing.

Freelance marketplaces: Connecting businesses with independent contractors for a wide range of services, increasing flexibility and talent access.

Sustainable and ethical businesses

E-commerce for sustainable products: Catering to consumers seeking eco-friendly, ethical and socially responsible products.

Zero-waste initiatives: Implementing practices to minimize waste in packaging, shipping and operations.

Transparency and traceability: Providing customers with information about product sourcing, manufacturing and environmental impact.

Niche market targeting

Micro-influencer marketing: Collaborating with niche influencers who have highly engaged and targeted audiences.

Subscription boxes for specific hobbies: Catering to niche interests, such as crafting, cooking or fitness.

Personalized products and experiences: Offering customizable products and curated experiences tailored to specific demographics or preferences.

Online business ideas FAQ

What are the most profitable online business ideas to start.

Turning an online business idea into a profitable business is not without its challenges, and profitability will depend on many other factors than just the specific business idea you choose. However in general online business ideas with a high potential for profitability include creating and selling online courses, affiliate marketing and dropshipping.

What are the best online business ideas for beginners?

What are the quickest online business ideas to start, how do you brainstorm online business ideas, what is the best online business to start from home, do you need an llc to sell online, explore more business ideas.

Craft business ideas

Beauty business ideas

Reselling business ideas

DIY business ideas

Clothing business ideas

Small-town business ideas

Rental business ideas

B2B business ideas

Business ideas for teachers

Recession-proof business ideas

Kidswear business ideas

Business ideas for teens

Hobbies that make money

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• 5 Best Business Plan Software and Tools in 2023 for Your Small Business

Data as of 3 /13/23 . Offers and availability may vary by location and are subject to change.

We are committed to sharing unbiased reviews. Some of the links on our site are from our partners who compensate us. Read our editorial guidelines and advertising disclosure .

A business plan can do a lot for your business. It can help you secure investors or other funding. It can give your company direction. It can keep your finances healthy. But, if we’re being honest, it can also be a pain to write.

Luckily, you don’t have to start from scratch or go it alone. Business plan software and services can help you craft a professional business plan, like our top choice LivePlan , which provides templates, guidance, and more.

You’ve got quite a few choices for business plan help, so we’re here to help you narrow things down. Let’s talk about the best business plan tools out there.

• LivePlan : Best overall
• BizPlanBuilder : Most user-friendly
• Wise Business Plans : Best professional service
• Business Sorter : Best for internal plans
• GoSmallBiz.com : Most extra features
• Honorable mentions

Business plan software 101

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LivePlan: Best overall business plan software

Data as of 3 /13/23 . Offers and availability may vary by location and are subject to change. *With annual billing

LivePlan has been our favorite business plan software for a while now, despite the stiff competition.

There’s a lot to like about LivePlan. It has pretty much all the features you could want from your business plan software. LivePlan gives you step-by-step instructions for writing your plan, helps you create financial reports, lets you compare your business’s actual financials to your plan’s goals, and much more. And if you ever need inspiration, it includes hundreds of sample business plans that can guide your writing.

LivePlan software pricing

But the best part? You get all that (and more) at a very competitive price. (You can choose from annual, six-month, or monthly billing.) While LivePlan isn’t quite the cheapest business plan builder out there, it’s not too far off either. And if comes with a 60-day money back guarantee. So there’s no risk in trying LivePlan out for yourself.

With a great balance of features and cost, LivePlan offers the best business plan solution for most businesses.

BizPlanBuilder: Most user-friendly

Need something easy to use? BizPlanBuilder fits the bill.

BizPlanBuilder doesn’t have a flashy, modern user interface―but it does have a very clear, intuitive one. You’ll be able to see your plan’s overall structure at a glance, so you can quickly navigate from your title page to your market trend section to that paragraph on your core values. And as you write, you’ll use a text editor that looks a whole lot like the word processing programs you’re already familiar with.

BizPlanBuilder software pricing

Data effective 3/13/23. At publishing time, amounts, rates, and requirements are current but are subject to change. Offers may not be available in all areas.

BizPlanBuilder also offers lots of helpful guidance for actually writing your plan. It gives you pre-written text, in which you just have to fill in relevant details. It offers explanations for what information you need to include in each section of your plan and way. It even gives you helpful tips from experts, so you’ll have all the information you need to plan like a pro.

So if you want planning software with almost no learning curve, you’ll like BizPlanBuilder.

Wise Business Plans: Best professional service

• Custom quote

Unlike all the other companies on this list, Wise Business Plans doesn’t offer software. Instead, it offers professional business plan writing services―meaning someone does all the hard work for you.

Now, you might think that sounds expensive―and you’re probably right (you have to request a custom quote for your plan). But there’s a lot to be said for expertise, and Wise Business Plans has plenty of that. Your business plan will get written by an experienced writer (with an MBA, no less). They’ll get information from you, do their own research, and then write your plan. You get one free revision, and you can always pay for more.  

Wise Business Plans service pricing

Your end result will be a polished, entirely original business plan. (You can even get printed copies.) And best of all, you won’t have to spend your precious time working on the plan yourself. Wise Business Plans takes care of all the hard parts, and makes your business look good while doing it. Sounds like a service worth paying for, right?

Put simply, if you want the most professional business plan possible, we recommend using Wise Business Plans’s writing service.

Business Sorter: Best for internal plans

Many businesses need plans to show to people outside the company (to get financing, for example). But what if you just need a plan for internal use? In that case, we suggest Business Sorter.

Business Sorter uses a unique card-based method to help you craft the perfect business plan. (You can watch a demo video to see how it works.) You’ll plan some of the usual things, like finances and marketing. But Business Sorter also lets you make plans for specific teams and team members. It also emphasizes more internal matters, like operations, that might get overlooked in a business plan for outsiders.

Business Sorter software pricing

After you’ve made your business plan, Business Sorter also helps you stay accountable to it. You can create tasks, give them deadlines, and assign them to team members―giving you basic project management tools to make sure your business plans become business actions. (Oh, and did we mention that Business Sorter has the lowest starting prices of any software on this list?)

It all adds up to a business plan software that works great for internal planning.

GoSmallBiz: Most extra features

Want to get way more than just business planning software? Then you probably want GoSmallBiz.

See, GoSmallBiz offers business plan software as part of its service―but it’s just one part of a much bigger whole. You also get everything from discounts on legal services to a website builder to a CRM (customer relationship manager) to business document templates. And more. In other words, you get just about everything you need to get your startup off the ground.

GoSmallBiz software pricing

Don’t worry though―you still get all the business planning help you need. GoSmallBiz gives you business plan templates, step-by-step instructions, and the ability to create financial projections. And if you get stuck, GoSmallBiz will put you in touch with experts who can offer advice.

If you want business planning and much, much more, give GoSmallBiz a try.

• PlanGuru : Best financial forecasting
• EnLoop : Cheapest tool for startups

We recommend the software above for most business planning needs. Some businesses, though, might be interested in these more specialized planning software.

Honorable mention software pricing

Planguru: best financial forecasting features.

PlanGuru is pretty pricey compared to our other picks, but you might find its forecasting features worth paying for. It has more forecasting methods than other software (over 20) plus it lets you forecast up to 10 years.

EnLoop: Cheapest tool for startups

EnLoop doesn’t have our favorite features or interface, but it does have really, really low pricing plus a seven-day free trial. It's the most affordable software for startup business planning and still provides all the essential features like financial analysis, team collaboration, charting, and more.

Data as of 3 /13/23 . Offers and availability may vary by location and are subject to change. * With annual billing

Several of our previous favorite planning software, including BusinessPlanPro and StratPad, seem to have gone out of business.

A business plan is a written, living document that tells the story of your business and what you plan to do with it. It serves as the source of truth for you—the business owner—as well as potential partners, employees, and investors, but it also serves as a roadmap of what you want your business to be.

Why you need a business plan

While some small-business owners don’t see the point of creating a formal business plan, it can have some concrete benefits for your business. For example, one 2016 study found that business owners with written plans are more successful than those that don’t. 1

Still too vague? Then let’s get specific.

If you ever seek business funding (from, say, banks, angel investors , or venture capitalists ), you’ll have to prove that your business deserves the money you want. A formal business plan―complete with financial data and projections―gives you a professional document you can use to make your case. (In fact, most potential investors will expect you to have a business plan ready.)

Even if you’re not seeking funding right now, a business plan can help your business. A formal plan can guide your business’s direction and decision making. It can keep your business accountable (by, for example, seeing if your business meets the financial projections you included). And a formal plan offers a great way to make sure your team stays on the same page.

What to include in your business plan

Not all business plans are created equal. To make a really useful business plan, you’ll want to include a number of elements:

• Basic information about your business
• Your products/services
• Market and industry analysis
• What makes your business competitive
• Strategies and upcoming plans
• Your team (and your team’s background)
• Current financial status
• Financial and market projections
• Executive summary

Of course, you can include more or fewer elements―whatever makes sense for your business. Just make sure your business plan is comprehensive (but not overwhelming).

How business plan software can help

With so many elements to include, business plan creation can take a while. Business plan software tries to speed things up.

Most business plan software will include prompts for each section. In some cases, you can just fill in your business’s specific information, and the software will write the text for you. In other cases, the software will give you specific guidance and examples, helping you write the text yourself.

Plus, business plan software can help you stay organized. You’ll usually get intuitive menus that let you quickly flip through sections. So rather than endlessly scrolling through a long document in a word processor, you can quickly find your way around your plan. Some software even lets you drag and drop sections to reorganize your plan.

Sounds way easier than just staring at a blank page and trying to start from scratch, right?

Choosing business plan software

To find the right business plan builder for your business, you’ll want to compare features. For example, would you rather write your own text, getting prompts and advice from your software? Or would you rather go with a fill-in-the-blank method?

Likewise, think about the elements you need. If your plan will have a heavy focus on finances, you’ll want to choose business plan software with robust financial projection features. If you care more about market and competitor analysis, look for software that can help with that research.

You may also want to find business plan software that integrates with your business accounting software . Some plan builders will import data from Xero, QuickBooks, etc. to quickly generate your financial data and projections.

And of course, you’ll want to compare prices. After all, you always want to end up with software that fits your business budget.

The right business plan software can make your life easier. With LivePlan ’s wide breadth of features and online learning tools, you can’t go wrong. Plus, BizPlanBuilder 's one-time pricing makes it easy to invest while Business Sorter has a low starting cost. And if you're business is looking to grow, GoSmallBiz and Wise Business Plans will scale with you.

But of course, different companies have different needs. So shop around until you find the software that’s best for you and your business.

Now that you've got a business plan, take a look at our checklist for starting a small business.  It can help you make sure you have everything else you need to get your startup off to a good start!

Related content

• 7 Steps to Build a Successful Project Management Sales Plan
• Best Project Management Software and Tools in 2023
• 4 Cost Management Techniques for Small Businesses

Creating a business plan can take anywhere from a couple hours to several weeks. Your timeline will depend on things like the elements you choose to include, whether you use software or hire a writing service, and how much research goes into your plan.

That said, much of the business plan software out there brags that it can help you create a fairly detailed plan in a few hours. So if you’re going the software route, that can help you set your expectations.

If you want to get the most out of your business plan, you should update it on a regular basis―at least annually. That way, you can continually refer to it to inform your company’s strategies and direction.  

At the very least, you should update your business plan before you start looking for a new round of funding (whether that’s with investors or lenders).

Thanks to business plan software, you can easily write your own business plan rather than pay someone to do it for you. And in most cases, software will cost you less than a professional business plan service.

There are some times you might want to go with a service though. If time is tight, you might find that it’s worth the cost of a service. Or if you’ve got big investor meetings on the horizon, you might want the expertise and polish that a professional service can offer.

Ultimately, you’ll have to decide for yourself whether business plan software or a business plan service will work better for your company.

Methodology

We ranked business plan software and tools based on features, pricing and plans, and connections to project management and other services. The value of each plan and service, along with what it offers, was a big consideration in our rankings, and we looked to see if what was offered was useful to small businesses or just extra. The final thing we looked at was the ease of use of the software to see if it's too complex for small businesses.

At Business.org, our research is meant to offer general product and service recommendations. We don't guarantee that our suggestions will work best for each individual or business, so consider your unique needs when choosing products and services.

Sources 1. Harvard Business Review, “ Research: Writing a Business Plan Makes Your Startup More Likely to Succeed .” Accessed March 13, 2023.

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The 7 Best Business Plan Examples (2024)

As an aspiring entrepreneur gearing up to start your own business , you likely know the importance of drafting a business plan. However, you might not be entirely sure where to begin or what specific details to include. That’s where examining business plan examples can be beneficial. Sample business plans serve as real-world templates to help you craft your own plan with confidence. They also provide insight into the key sections that make up a business plan, as well as demonstrate how to structure and present your ideas effectively.

Example business plan

To understand how to write a business plan, let’s study an example structured using a seven-part template. Here’s a quick overview of those parts:

• Executive summary: A quick overview of your business and the contents of your business plan.
• Company description: More info about your company, its goals and mission, and why you started it in the first place.
• Market analysis: Research about the market and industry your business will operate in, including a competitive analysis about the companies you’ll be up against.
• Products and services: A detailed description of what you’ll be selling to your customers.
• Marketing plan: A strategic outline of how you plan to market and promote your business before, during, and after your company launches into the market.
• Logistics and operations plan: An explanation of the systems, processes, and tools that are needed to run your business in the background.
• Financial plan: A map of your short-term (and even long-term) financial goals and the costs to run the business. If you’re looking for funding, this is the place to discuss your request and needs.

7 business plan examples (section by section)

In this section, you’ll find hypothetical and real-world examples of each aspect of a business plan to show you how the whole thing comes together. 

• Executive summary

Your executive summary offers a high-level overview of the rest of your business plan. You’ll want to include a brief description of your company, market research, competitor analysis, and financial information. 

In this free business plan template, the executive summary is three paragraphs and occupies nearly half the page:

• Company description

You might go more in-depth with your company description and include the following sections:

• Nature of the business. Mention the general category of business you fall under. Are you a manufacturer, wholesaler, or retailer of your products?
• Background information. Talk about your past experiences and skills, and how you’ve combined them to fill in the market. 
• Business structure. This section outlines how you registered your company —as a corporation, sole proprietorship, LLC, or other business type.
• Industry. Which business sector do you operate in? The answer might be technology, merchandising, or another industry.
• Team. Whether you’re the sole full-time employee of your business or you have contractors to support your daily workflow, this is your chance to put them under the spotlight.

You can also repurpose your company description elsewhere, like on your About page, Instagram page, or other properties that ask for a boilerplate description of your business. Hair extensions brand Luxy Hair has a blurb on it’s About page that could easily be repurposed as a company description for its business plan. 

• Market analysis

Market analysis comprises research on product supply and demand, your target market, the competitive landscape, and industry trends. You might do a SWOT analysis to learn where you stand and identify market gaps that you could exploit to establish your footing. Here’s an example of a SWOT analysis for a hypothetical ecommerce business: 

You’ll also want to run a competitive analysis as part of the market analysis component of your business plan. This will show you who you’re up against and give you ideas on how to gain an edge over the competition. 

• Products and services

This part of your business plan describes your product or service, how it will be priced, and the ways it will compete against similar offerings in the market. Don’t go into too much detail here—a few lines are enough to introduce your item to the reader.

• Marketing plan

Potential investors will want to know how you’ll get the word out about your business. So it’s essential to build a marketing plan that highlights the promotion and customer acquisition strategies you’re planning to adopt. 

Most marketing plans focus on the four Ps: product, price, place, and promotion. However, it’s easier when you break it down by the different marketing channels . Mention how you intend to promote your business using blogs, email, social media, and word-of-mouth marketing. 

Here’s an example of a hypothetical marketing plan for a real estate website:

Logistics and operations

This section of your business plan provides information about your production, facilities, equipment, shipping and fulfillment, and inventory.

Financial plan

The financial plan (a.k.a. financial statement) offers a breakdown of your sales, revenue, expenses, profit, and other financial metrics. You’ll want to include all the numbers and concrete data to project your current and projected financial state.

In this business plan example, the financial statement for ecommerce brand Nature’s Candy includes forecasted revenue, expenses, and net profit in graphs.

It then goes deeper into the financials, citing:

• Funding needs
• Project cash-flow statement
• Project profit-and-loss statement
• Projected balance sheet

You can use Shopify’s financial plan template to create your own income statement, cash-flow statement, and balance sheet. 

Types of business plans (and what to write for each)

A one-page business plan is a pared down version of a standard business plan that’s easy for potential investors and partners to understand. You’ll want to include all of these sections, but make sure they’re abbreviated and summarized:

• Logistics and operations plan
• Financials 

A startup business plan is meant to secure outside funding for a new business. Typically, there’s a big focus on the financials, as well as other sections that help determine the viability of your business idea—market analysis, for example. Shopify has a great business plan template for startups that include all the below points:

• Market research: in depth
• Financials: in depth

Your internal business plan acts as the enforcer of your company’s vision. It reminds your team of the long-term objective and keeps them strategically aligned toward the same goal. Be sure to include:

• Market research

Feasibility 

A feasibility business plan is essentially a feasibility study that helps you evaluate whether your product or idea is worthy of a full business plan. Include the following sections:

A strategic (or growth) business plan lays out your long-term vision and goals. This means your predictions stretch further into the future, and you aim for greater growth and revenue. While crafting this document, you use all the parts of a usual business plan but add more to each one:

• Products and services: for launch and expansion
• Market analysis: detailed analysis
• Marketing plan: detailed strategy
• Logistics and operations plan: detailed plan
• Financials: detailed projections

Free business plan templates

Now that you’re familiar with what’s included and how to format a business plan, let’s go over a few templates you can fill out or draw inspiration from.

Bplans’ free business plan template

Bplans’ free business plan template focuses a lot on the financial side of running a business. It has many pages just for your financial plan and statements. Once you fill it out, you’ll see exactly where your business stands financially and what you need to do to keep it on track or make it better.

PandaDoc’s free business plan template

PandaDoc’s free business plan template is detailed and guides you through every section, so you don’t have to figure everything out on your own. Filling it out, you’ll grasp the ins and outs of your business and how each part fits together. It’s also handy because it connects to PandaDoc’s e-signature for easy signing, ideal for businesses with partners or a board.

Miro’s Business Model Canvas Template

Miro’s Business Model Canvas Template helps you map out the essentials of your business, like partnerships, core activities, and what makes you different. It’s a collaborative tool for you and your team to learn how everything in your business is linked.

Better business planning equals better business outcomes

Building a business plan is key to establishing a clear direction and strategy for your venture. With a solid plan in hand, you’ll know what steps to take for achieving each of your business goals. Kickstart your business planning and set yourself up for success with a defined roadmap—utilizing the sample business plans above to inform your approach.

Business plan FAQ

What are the 3 main points of a business plan.

• Concept. Explain what your business does and the main idea behind it. This is where you tell people what you plan to achieve with your business.
• Contents. Explain what you’re selling or offering. Point out who you’re selling to and who else is selling something similar. This part concerns your products or services, who will buy them, and who you’re up against.
• Cash flow. Explain how money will move in and out of your business. Discuss the money you need to start and keep the business going, the costs of running your business, and how much money you expect to make.

How do I write a simple business plan?

To create a simple business plan, start with an executive summary that details your business vision and objectives. Follow this with a concise description of your company’s structure, your market analysis, and information about your products or services. Conclude your plan with financial projections that outline your expected revenue, expenses, and profitability.

What is the best format to write a business plan?

The optimal format for a business plan arranges your plan in a clear and structured way, helping potential investors get a quick grasp of what your business is about and what you aim to achieve. Always start with a summary of your plan and finish with the financial details or any extra information at the end.

Want to learn more?

• Question: Are You a Business Owner or an Entrepreneur?
• Bootstrapping a Business: 10 Tips to Help You Succeed
• Entrepreneurial Mindset: 20 Ways to Think Like an Entrepreneur
• 101+ Best Small Business Software Programs 

How to Write a Business Plan: Step-by-Step Guide + Examples

Noah Parsons

24 min. read

Updated May 7, 2024

Writing a business plan doesn’t have to be complicated. 

In this step-by-step guide, you’ll learn how to write a business plan that’s detailed enough to impress bankers and potential investors, while giving you the tools to start, run, and grow a successful business.

• The basics of business planning

If you’re reading this guide, then you already know why you need a business plan . 

You understand that planning helps you: 

• Raise money
• Grow strategically
• Keep your business on the right track 

As you start to write your plan, it’s useful to zoom out and remember what a business plan is .

At its core, a business plan is an overview of the products and services you sell, and the customers that you sell to. It explains your business strategy: how you’re going to build and grow your business, what your marketing strategy is, and who your competitors are.

Most business plans also include financial forecasts for the future. These set sales goals, budget for expenses, and predict profits and cash flow. 

A good business plan is much more than just a document that you write once and forget about. It’s also a guide that helps you outline and achieve your goals. 

After completing your plan, you can use it as a management tool to track your progress toward your goals. Updating and adjusting your forecasts and budgets as you go is one of the most important steps you can take to run a healthier, smarter business. 

We’ll dive into how to use your plan later in this article.

There are many different types of plans , but we’ll go over the most common type here, which includes everything you need for an investor-ready plan. However, if you’re just starting out and are looking for something simpler—I recommend starting with a one-page business plan . It’s faster and easier to create. 

It’s also the perfect place to start if you’re just figuring out your idea, or need a simple strategic plan to use inside your business.

Dig deeper : How to write a one-page business plan

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• What to include in your business plan

Executive summary

The executive summary is an overview of your business and your plans. It comes first in your plan and is ideally just one to two pages. Most people write it last because it’s a summary of the complete business plan.

Ideally, the executive summary can act as a stand-alone document that covers the highlights of your detailed plan. 

In fact, it’s common for investors to ask only for the executive summary when evaluating your business. If they like what they see in the executive summary, they’ll often follow up with a request for a complete plan, a pitch presentation , or more in-depth financial forecasts .

Your executive summary should include:

• A summary of the problem you are solving
• A description of your product or service
• An overview of your target market
• A brief description of your team
• A summary of your financials
• Your funding requirements (if you are raising money)

Dig Deeper: How to write an effective executive summary

Products and services description

This is where you describe exactly what you’re selling, and how it solves a problem for your target market. The best way to organize this part of your plan is to start by describing the problem that exists for your customers. After that, you can describe how you plan to solve that problem with your product or service. 

This is usually called a problem and solution statement .

To truly showcase the value of your products and services, you need to craft a compelling narrative around your offerings. How will your product or service transform your customers’ lives or jobs? A strong narrative will draw in your readers.

This is also the part of the business plan to discuss any competitive advantages you may have, like specific intellectual property or patents that protect your product. If you have any initial sales, contracts, or other evidence that your product or service is likely to sell, include that information as well. It will show that your idea has traction , which can help convince readers that your plan has a high chance of success.

Market analysis

Your target market is a description of the type of people that you plan to sell to. You might even have multiple target markets, depending on your business. 

A market analysis is the part of your plan where you bring together all of the information you know about your target market. Basically, it’s a thorough description of who your customers are and why they need what you’re selling. You’ll also include information about the growth of your market and your industry .

Try to be as specific as possible when you describe your market. 

Include information such as age, income level, and location—these are what’s called “demographics.” If you can, also describe your market’s interests and habits as they relate to your business—these are “psychographics.” 

Related: Target market examples

Essentially, you want to include any knowledge you have about your customers that is relevant to how your product or service is right for them. With a solid target market, it will be easier to create a sales and marketing plan that will reach your customers. That’s because you know who they are, what they like to do, and the best ways to reach them.

Next, provide any additional information you have about your market. 

What is the size of your market ? Is the market growing or shrinking? Ideally, you’ll want to demonstrate that your market is growing over time, and also explain how your business is positioned to take advantage of any expected changes in your industry.

Dig Deeper: Learn how to write a market analysis

Competitive analysis

Part of defining your business opportunity is determining what your competitive advantage is. To do this effectively, you need to know as much about your competitors as your target customers. 

Every business has some form of competition. If you don’t think you have competitors, then explore what alternatives there are in the market for your product or service. 

For example: In the early years of cars, their main competition was horses. For social media, the early competition was reading books, watching TV, and talking on the phone.

A good competitive analysis fully lays out the competitive landscape and then explains how your business is different. Maybe your products are better made, or cheaper, or your customer service is superior. Maybe your competitive advantage is your location – a wide variety of factors can ultimately give you an advantage.

Dig Deeper: How to write a competitive analysis for your business plan

Marketing and sales plan

The marketing and sales plan covers how you will position your product or service in the market, the marketing channels and messaging you will use, and your sales tactics. 

The best place to start with a marketing plan is with a positioning statement . 

This explains how your business fits into the overall market, and how you will explain the advantages of your product or service to customers. You’ll use the information from your competitive analysis to help you with your positioning. 

For example: You might position your company as the premium, most expensive but the highest quality option in the market. Or your positioning might focus on being locally owned and that shoppers support the local economy by buying your products.

Once you understand your positioning, you’ll bring this together with the information about your target market to create your marketing strategy . 

This is how you plan to communicate your message to potential customers. Depending on who your customers are and how they purchase products like yours, you might use many different strategies, from social media advertising to creating a podcast. Your marketing plan is all about how your customers discover who you are and why they should consider your products and services. 

While your marketing plan is about reaching your customers—your sales plan will describe the actual sales process once a customer has decided that they’re interested in what you have to offer. 

If your business requires salespeople and a long sales process, describe that in this section. If your customers can “self-serve” and just make purchases quickly on your website, describe that process. 

A good sales plan picks up where your marketing plan leaves off. The marketing plan brings customers in the door and the sales plan is how you close the deal.

Together, these specific plans paint a picture of how you will connect with your target audience, and how you will turn them into paying customers.

Dig deeper: What to include in your sales and marketing plan

Business operations

The operations section describes the necessary requirements for your business to run smoothly. It’s where you talk about how your business works and what day-to-day operations look like. 

Depending on how your business is structured, your operations plan may include elements of the business like:

• Supply chain management
• Manufacturing processes
• Equipment and technology
• Distribution

Some businesses distribute their products and reach their customers through large retailers like Amazon.com, Walmart, Target, and grocery store chains. 

These businesses should review how this part of their business works. The plan should discuss the logistics and costs of getting products onto store shelves and any potential hurdles the business may have to overcome.

If your business is much simpler than this, that’s OK. This section of your business plan can be either extremely short or more detailed, depending on the type of business you are building.

For businesses selling services, such as physical therapy or online software, you can use this section to describe the technology you’ll leverage, what goes into your service, and who you will partner with to deliver your services.

Dig Deeper: Learn how to write the operations chapter of your plan

Key milestones and metrics

Although it’s not required to complete your business plan, mapping out key business milestones and the metrics can be incredibly useful for measuring your success.

Good milestones clearly lay out the parameters of the task and set expectations for their execution. You’ll want to include:

• A description of each task
• The proposed due date
• Who is responsible for each task

If you have a budget, you can include projected costs to hit each milestone. You don’t need extensive project planning in this section—just list key milestones you want to hit and when you plan to hit them. This is your overall business roadmap. 

Possible milestones might be:

• Website launch date
• Store or office opening date
• First significant sales
• Break even date
• Business licenses and approvals

You should also discuss the key numbers you will track to determine your success. Some common metrics worth tracking include:

• Conversion rates
• Customer acquisition costs
• Profit per customer
• Repeat purchases

It’s perfectly fine to start with just a few metrics and grow the number you are tracking over time. You also may find that some metrics simply aren’t relevant to your business and can narrow down what you’re tracking.

Dig Deeper: How to use milestones in your business plan

Organization and management team

Investors don’t just look for great ideas—they want to find great teams. Use this chapter to describe your current team and who you need to hire . You should also provide a quick overview of your location and history if you’re already up and running.

Briefly highlight the relevant experiences of each key team member in the company. It’s important to make the case for why yours is the right team to turn an idea into a reality. 

Do they have the right industry experience and background? Have members of the team had entrepreneurial successes before? 

If you still need to hire key team members, that’s OK. Just note those gaps in this section.

Your company overview should also include a summary of your company’s current business structure . The most common business structures include:

• Sole proprietor
• Partnership

Be sure to provide an overview of how the business is owned as well. Does each business partner own an equal portion of the business? How is ownership divided? 

Potential lenders and investors will want to know the structure of the business before they will consider a loan or investment.

Dig Deeper: How to write about your company structure and team

Financial plan

Last, but certainly not least, is your financial plan chapter. 

Entrepreneurs often find this section the most daunting. But, business financials for most startups are less complicated than you think, and a business degree is certainly not required to build a solid financial forecast. 

A typical financial forecast in a business plan includes the following:

• Sales forecast : An estimate of the sales expected over a given period. You’ll break down your forecast into the key revenue streams that you expect to have.
• Expense budget : Your planned spending such as personnel costs , marketing expenses, and taxes.
• Profit & Loss : Brings together your sales and expenses and helps you calculate planned profits.
• Cash Flow : Shows how cash moves into and out of your business. It can predict how much cash you’ll have on hand at any given point in the future.
• Balance Sheet : A list of the assets, liabilities, and equity in your company. In short, it provides an overview of the financial health of your business. 

A strong business plan will include a description of assumptions about the future, and potential risks that could impact the financial plan. Including those will be especially important if you’re writing a business plan to pursue a loan or other investment.

Dig Deeper: How to create financial forecasts and budgets

This is the place for additional data, charts, or other information that supports your plan.

Including an appendix can significantly enhance the credibility of your plan by showing readers that you’ve thoroughly considered the details of your business idea, and are backing your ideas up with solid data.

Just remember that the information in the appendix is meant to be supplementary. Your business plan should stand on its own, even if the reader skips this section.

Dig Deeper : What to include in your business plan appendix

Optional: Business plan cover page

Adding a business plan cover page can make your plan, and by extension your business, seem more professional in the eyes of potential investors, lenders, and partners. It serves as the introduction to your document and provides necessary contact information for stakeholders to reference.

Your cover page should be simple and include:

• Company logo
• Business name
• Value proposition (optional)
• Business plan title
• Completion and/or update date
• Address and contact information
• Confidentiality statement

Just remember, the cover page is optional. If you decide to include it, keep it very simple and only spend a short amount of time putting it together.

Dig Deeper: How to create a business plan cover page

How to use AI to help write your business plan

Generative AI tools such as ChatGPT can speed up the business plan writing process and help you think through concepts like market segmentation and competition. These tools are especially useful for taking ideas that you provide and converting them into polished text for your business plan.

The best way to use AI for your business plan is to leverage it as a collaborator , not a replacement for human creative thinking and ingenuity. 

AI can come up with lots of ideas and act as a brainstorming partner. It’s up to you to filter through those ideas and figure out which ones are realistic enough to resonate with your customers. 

There are pros and cons of using AI to help with your business plan . So, spend some time understanding how it can be most helpful before just outsourcing the job to AI.

Learn more: 10 AI prompts you need to write a business plan

• Writing tips and strategies

To help streamline the business plan writing process, here are a few tips and key questions to answer to make sure you get the most out of your plan and avoid common mistakes .  

Determine why you are writing a business plan

Knowing why you are writing a business plan will determine your approach to your planning project. 

For example: If you are writing a business plan for yourself, or just to use inside your own business , you can probably skip the section about your team and organizational structure. 

If you’re raising money, you’ll want to spend more time explaining why you’re looking to raise the funds and exactly how you will use them.

Regardless of how you intend to use your business plan , think about why you are writing and what you’re trying to get out of the process before you begin.

Keep things concise

Probably the most important tip is to keep your business plan short and simple. There are no prizes for long business plans . The longer your plan is, the less likely people are to read it. 

So focus on trimming things down to the essentials your readers need to know. Skip the extended, wordy descriptions and instead focus on creating a plan that is easy to read —using bullets and short sentences whenever possible.

Have someone review your business plan

Writing a business plan in a vacuum is never a good idea. Sometimes it’s helpful to zoom out and check if your plan makes sense to someone else. You also want to make sure that it’s easy to read and understand.

Don’t wait until your plan is “done” to get a second look. Start sharing your plan early, and find out from readers what questions your plan leaves unanswered. This early review cycle will help you spot shortcomings in your plan and address them quickly, rather than finding out about them right before you present your plan to a lender or investor.

If you need a more detailed review, you may want to explore hiring a professional plan writer to thoroughly examine it.

Use a free business plan template and business plan examples to get started

Knowing what information to include in a business plan is sometimes not quite enough. If you’re struggling to get started or need additional guidance, it may be worth using a business plan template. 

There are plenty of great options available (we’ve rounded up our 8 favorites to streamline your search).

But, if you’re looking for a free downloadable business plan template , you can get one right now; download the template used by more than 1 million businesses. 

Or, if you just want to see what a completed business plan looks like, check out our library of over 550 free business plan examples . 

We even have a growing list of industry business planning guides with tips for what to focus on depending on your business type.

Common pitfalls and how to avoid them

It’s easy to make mistakes when you’re writing your business plan. Some entrepreneurs get sucked into the writing and research process, and don’t focus enough on actually getting their business started. 

Here are a few common mistakes and how to avoid them:

Not talking to your customers : This is one of the most common mistakes. It’s easy to assume that your product or service is something that people want. Before you invest too much in your business and too much in the planning process, make sure you talk to your prospective customers and have a good understanding of their needs.

• Overly optimistic sales and profit forecasts: By nature, entrepreneurs are optimistic about the future. But it’s good to temper that optimism a little when you’re planning, and make sure your forecasts are grounded in reality. 
• Spending too much time planning: Yes, planning is crucial. But you also need to get out and talk to customers, build prototypes of your product and figure out if there’s a market for your idea. Make sure to balance planning with building.
• Not revising the plan: Planning is useful, but nothing ever goes exactly as planned. As you learn more about what’s working and what’s not—revise your plan, your budgets, and your revenue forecast. Doing so will provide a more realistic picture of where your business is going, and what your financial needs will be moving forward.
• Not using the plan to manage your business: A good business plan is a management tool. Don’t just write it and put it on the shelf to collect dust – use it to track your progress and help you reach your goals.
• Presenting your business plan

The planning process forces you to think through every aspect of your business and answer questions that you may not have thought of. That’s the real benefit of writing a business plan – the knowledge you gain about your business that you may not have been able to discover otherwise.

With all of this knowledge, you’re well prepared to convert your business plan into a pitch presentation to present your ideas. 

A pitch presentation is a summary of your plan, just hitting the highlights and key points. It’s the best way to present your business plan to investors and team members.

Dig Deeper: Learn what key slides should be included in your pitch deck

Use your business plan to manage your business

One of the biggest benefits of planning is that it gives you a tool to manage your business better. With a revenue forecast, expense budget, and projected cash flow, you know your targets and where you are headed.

And yet, nothing ever goes exactly as planned – it’s the nature of business.

That’s where using your plan as a management tool comes in. The key to leveraging it for your business is to review it periodically and compare your forecasts and projections to your actual results.

Start by setting up a regular time to review the plan – a monthly review is a good starting point. During this review, answer questions like:

• Did you meet your sales goals?
• Is spending following your budget?
• Has anything gone differently than what you expected?

Now that you see whether you’re meeting your goals or are off track, you can make adjustments and set new targets. 

Maybe you’re exceeding your sales goals and should set new, more aggressive goals. In that case, maybe you should also explore more spending or hiring more employees. 

Or maybe expenses are rising faster than you projected. If that’s the case, you would need to look at where you can cut costs.

A plan, and a method for comparing your plan to your actual results , is the tool you need to steer your business toward success.

Learn More: How to run a regular plan review

Free business plan templates and examples

Kickstart your business plan writing with one of our free business plan templates or recommended tools.

Free business plan template

Download a free SBA-approved business plan template built for small businesses and startups.

Download Template

One-page plan template

Download a free one-page plan template to write a useful business plan in as little as 30-minutes.

Sample business plan library

Explore over 500 real-world business plan examples from a wide variety of industries.

View Sample Plans

How to write a business plan FAQ

What is a business plan?

A document that describes your business , the products and services you sell, and the customers that you sell to. It explains your business strategy, how you’re going to build and grow your business, what your marketing strategy is, and who your competitors are.

What are the benefits of a business plan?

A business plan helps you understand where you want to go with your business and what it will take to get there. It reduces your overall risk, helps you uncover your business’s potential, attracts investors, and identifies areas for growth.

Having a business plan ultimately makes you more confident as a business owner and more likely to succeed for a longer period of time.

What are the 7 steps of a business plan?

The seven steps to writing a business plan include:

• Write a brief executive summary
• Describe your products and services.
• Conduct market research and compile data into a cohesive market analysis.
• Describe your marketing and sales strategy.
• Outline your organizational structure and management team.
• Develop financial projections for sales, revenue, and cash flow.
• Add any additional documents to your appendix.

What are the 5 most common business plan mistakes?

There are plenty of mistakes that can be made when writing a business plan. However, these are the 5 most common that you should do your best to avoid:

• 1. Not taking the planning process seriously.
• Having unrealistic financial projections or incomplete financial information.
• Inconsistent information or simple mistakes.
• Failing to establish a sound business model.
• Not having a defined purpose for your business plan.

What questions should be answered in a business plan?

Writing a business plan is all about asking yourself questions about your business and being able to answer them through the planning process. You’ll likely be asking dozens and dozens of questions for each section of your plan.

However, these are the key questions you should ask and answer with your business plan:

• How will your business make money?
• Is there a need for your product or service?
• Who are your customers?
• How are you different from the competition?
• How will you reach your customers?
• How will you measure success?

How long should a business plan be?

The length of your business plan fully depends on what you intend to do with it. From the SBA and traditional lender point of view, a business plan needs to be whatever length necessary to fully explain your business. This means that you prove the viability of your business, show that you understand the market, and have a detailed strategy in place.

If you intend to use your business plan for internal management purposes, you don’t necessarily need a full 25-50 page business plan. Instead, you can start with a one-page plan to get all of the necessary information in place.

What are the different types of business plans?

While all business plans cover similar categories, the style and function fully depend on how you intend to use your plan. Here are a few common business plan types worth considering.

Traditional business plan: The tried-and-true traditional business plan is a formal document meant to be used when applying for funding or pitching to investors. This type of business plan follows the outline above and can be anywhere from 10-50 pages depending on the amount of detail included, the complexity of your business, and what you include in your appendix.

Business model canvas: The business model canvas is a one-page template designed to demystify the business planning process. It removes the need for a traditional, copy-heavy business plan, in favor of a single-page outline that can help you and outside parties better explore your business idea.

One-page business plan: This format is a simplified version of the traditional plan that focuses on the core aspects of your business. You’ll typically stick with bullet points and single sentences. It’s most useful for those exploring ideas, needing to validate their business model, or who need an internal plan to help them run and manage their business.

Lean Plan: The Lean Plan is less of a specific document type and more of a methodology. It takes the simplicity and styling of the one-page business plan and turns it into a process for you to continuously plan, test, review, refine, and take action based on performance. It’s faster, keeps your plan concise, and ensures that your plan is always up-to-date.

What’s the difference between a business plan and a strategic plan?

A business plan covers the “who” and “what” of your business. It explains what your business is doing right now and how it functions. The strategic plan explores long-term goals and explains “how” the business will get there. It encourages you to look more intently toward the future and how you will achieve your vision.

However, when approached correctly, your business plan can actually function as a strategic plan as well. If kept lean, you can define your business, outline strategic steps, and track ongoing operations all with a single plan.

Noah is the COO at Palo Alto Software, makers of the online business plan app LivePlan. He started his career at Yahoo! and then helped start the user review site Epinions.com. From there he started a software distribution business in the UK before coming to Palo Alto Software to run the marketing and product teams.

Table of Contents

• Use AI to help write your plan
• Common planning mistakes
• Manage with your business plan
• Templates and examples

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100 Best Online Business Ideas for Beginners

Darren DeMatas

January 24, 2024

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In addition to receiving commissions generated through affiliate marketing, we are able to fund our independent research and reviews at no extra cost to our readers. Learn more.

It’s easier than ever before to start an online business , even without any formal education or business experience. 

If you’re looking for a list of online business ideas for beginners, I’ve got you covered. 

Nah, we’re not talking about little side hustles here. Although, you can make legit money online with a side hustle. 

In this post we’re diving into viable businesses that allow you to be your own boss.

I’ve marketed websites professionally for almost two decades. In the last ten years, I transitioned to full time online entrepreneurship. Over the years, I’ve learned what types of businesses work well online and those that don’t.

I currently have two affiliate businesses, a B2B ecommerce startup and I co-own a marketing agency . Though that’s where I am now, that came on the heels of failure. 

In the beginning, I had a wholesale retail brand with a partner. We found that we were selling other brands at such a low price to compete that we slowly killed our profit margin. You won’t find wholesale or retail arbitrage on this list.

Without further ado, let’s jump into these businesses that anyone can start and run from home.

1. Start a Blog

Even if you don’t consider yourself a tech whiz, you can start your blog with little to no website design experience. If you know how to monetize it , you can build your blog into quite a lucrative source of income. That doesn’t mean you can build a blog and expect money to come in overnight. 

You must create content consistently and develop a way to sell something through the blog, whether it be sponsored posts, coaching services, ad space through networks like Google AdSense, affiliate products, or even digital products that you make yourself.

All you need to get started is web hosting and a domain.

It’s a pretty simple business model. The more quality blog posts you produce, the more revenue you can make. As long as you are able to build links to your blog.

The most successful blogs tend to be what many call a niche blog . By focusing on one core area of content you are passionate about, you’ll be able to attract more targeted readers to your blog posts, who are likely to buy the products and services you recommend.

Take for instance my friend, Adam Enfroy . He’s a digital marketer turned blogger on pace to hit 7 figures with his blog.

2. Sell Feet Pics Online

It sounds weird, sure, but selling feet pics online can be a lucrative venture. You don’t have to have “pretty” feet to get started, since there are a ton of niches to work with. And you’re not limited to selling to people with foot fetishes – you can sell to stock photo sites and marketing agencies, too.

3. Start a Subscription Box

Subscription boxes are everywhere you look these days, it seems so why not take a piece of that pie for yourself? No matter what you’re interested in, chances are there is an ecommerce subscription box service out there for it. Think about Dollar Shave Club , Loot Crate , Bawdy Bookworms , and Hunt a Killer . All of these are monthly subscription services that cater to entirely different audiences.

Bawdy Bookworms launched with a quarterly box, but added a lower cost monthly option to its business model. In less than one year, Bawdy Bookworms was able to double its sales by adding a smaller, more frequent option for its customers.

To boost your earning potential even more, you can open a separate online store where you sell past boxes or items that were in past boxes. It’s a great way to get rid of overstock and capture customers who aren’t ready to commit to a full subscription.

Want a sales team out there working for you without having to pay them a dime until they make a sale? Start your own affiliate marketing program so that others can promote your products and ideas.

4. Start an Advertising Network

If you have a group of niche blogs with decent traffic, you can sell ad space. Once you have a decent number of advertisers participating, you can invite other website owners and bloggers to join your advertising network to earn money with ad revenue.

5. Affiliate Marketing

As an affiliate marketer , you earn a commission when you promote someone else’s product. You can do this with information products like ebooks, video series, membership sites, etc., you can earn up to 50% in commission sales, and there are relatively low barriers to entry. You can become an Amazon affiliate and earn with the Amazon Associates program. To be successful, you need a knowledge of SEO in copywriting, but that is relatively easy to learn with a bit of research online. 

 Affiliate marketers often use various marketing strategies, including SEO, social media, frequent blogging , and pay per click ads to generate traffic and sales. If you’re not familiar with any of these, it can be a good idea to hire an SEO consultant to help you as you are starting an online business. This way, you can take your time as you learn the skills yourself.

If you’ve got an idea, chances are there is a business online already that you can use to make money with their affiliate programs. Once you get one business up and running, you might want to explore other affiliate marketing programs in different niches to increase your earning potential.

6. Ad Management 

Take a look at all of the local businesses in your area. Chances are, the majority of them would love to get more customers but don’t know how to do it. You come in and help them work on Facebook Ad or Google Ad campaigns to increase their business. Many small business owners are willing to pay for help learning about and managing pay per click ads.

7. Digital Marketing

As digital content and digital marketing demand continue to grow, many businesses can’t afford a full digital marketing department. As such, they reach out to digital marketing firms. Start your own just by taking some free online courses on digital marketing.

8. Search Engine Optimization

SEO is a crucial part of bringing people to your website online. It’s what helps you rank better in search engines. In an SEO consulting business, you analyze websites and give webmasters feedback on what they can do to improve their rankings. Keep in mind, however, to be a successful SEO consultant, it’s about more than just throwing keywords in the right places.

9. Lead Generation

Businesses are always looking for new leads because they are the lifeblood of business. When you work as a lead generator, you match customers to potential companies they would like to work with to solve their problems.

10. Social Media Management

If you love Facebook, Instagram, and various other social media platforms, a social media management business may be the answer. If you’re good at creating content and engaging with your audience, you can work as a social media manager to help other businesses do the same. Thanks to scheduling tools, this business is great for scaling. 

11. Become an Influencer

Whether you become an Instagram influencer or use another platform like YouTube, you can use your status to earn through sponsored posts, advertising campaigns, events, and more. Many businesses use influencer marketing to reach their ideal customers. With sites like:

• SocialBakers

You can be connected with businesses who want to spread the word about their products.

12. Start a Podcast

Like blogs, podcasts can be a great income generator. As your podcast grows, you can offer paid sponsorships as well as selling your own products and services. With podcasts, you’ll earn your listeners’ trust, which makes it more likely they will purchase whatever you’re offering.

Research shows the number of Americans listening to a podcast every week has grown 120% over the last five years . 90 million listen to a podcast monthly.  

To start a podcast, you don’t need any expensive or fancy audio equipment. It helps to have the episodes transcribed for accessibility and content marketing purposes.

John Lee Dumas, creator of the Entrepreneur on Fire podcast earns more than $250,000/month podcasting.

13. Start a Podcast Network

Let’s say you liked the idea of starting a podcast, so you’ve got one now. You can expand on that business idea to create additional podcasts until you have a complete network. Invite other podcasters to join your network, too. You’ll get increased visibility and can build an income by selling ads.

14. Start a Voiceover Business

All videos and ads need voiceover work. As long as you have a decent microphone and basic sound editing skills, you can produce quality recordings. You’ll be able to find work with independent production companies, ad agencies, and more.

15. Sound Editing and Post-Production

If you can use editing software, you can build an online business helping others make music and videos that sound great. You can edit podcasts, audio tracks for videos, master music, etc. 

16. Online Video Production

Videos are a great marketing tool, and if you can master that type of content creation, you’ll have no shortage of clients to work with. Combine it with social media management, and you’ll be that much more marketable.

17. Virtual Assistant

Virtual assistants (VAs) help with administrative tasks like managing email, scheduling appointments, and handling data entry. For companies that don’t want to hire in-house staff, VA businesses are the solution. Businesses can save as much as 78% on operational costs compared to a full-time employee.

Thinking bigger? You can also start your own virtual assistance business where you match other virtual assistants with clients. Similar to how a staffing agency works.

If you are good at managing people, this is a great small business idea for online entrepreneurs. 

18. Pinterest Virtual Assistant

This is similar to a traditional VA business but focusing on helping companies strengthen their presence on Pinterest. In this role, you help build a Pinterest marketing strategy, create pinnable graphics, set up boards, scheduling pins throughout the day, etc. 

19. Freelance Writing

Are you a decent writer? Are you willing to learn? Do you know a couple of different niches? You can start a freelance writing business providing content for other companies. You can use your own blog as a portfolio to help you get started. 

20. Self-Publishing

If you’ve ever thought about writing a book, writing an ebook is a great way to break into the market. You don’t need anything special to do it. All you have to do is convert your Word or Google Doc into a PDF, and you can list your digital product for sale through Amazon’s Kindle Direct self-publishing service. The more books you write, the more money you make. 

21. Technical Writer

Ever wonder who writes instruction manuals for electronics help guides for new software? Those are technical writers. If you enjoy writing and the technical side of things, then being a technical writer may be right for you.

22. Resume Writing

People are always looking for jobs. Some of those job seekers may look to others to improve their resumes and cover letters. Your services can help them get hired for their dream job. 

23. Speech Writing

A great speech is something many people need, but an art few have mastered. If you’re a writer who enjoys crafting presentations, you could build an online service business with speechwriting. You can also offer press releases (more on that below) and other public relations writing.

24. Grant Writer

 Grant and proposal writers help non-profits secure the funding they need to continue operations. Grant writers convince organizations to award funds to give the money to a particular non-profit.

It’s not an easy profitable online business idea to start, though, because it can be tough to break into. If you want to learn more about it, look into some of the American Grant Writers’ Association courses.

25. Press Release Writer

Do you enjoy telling stories? Do you love the idea of telling a compelling story in a limited amount of space that follows a specific format?

Press releases are much shorter than ebooks or grants, so that means each word needs to pack a punch. But, if you’re an effective communicator, you can earn some big bucks crafting press releases.

You can offer these as part of larger content packages for businesses or as part of your public relations business.

26. Copywriter

Copywriters can earn six figures or more writing sales copy for businesses. To make those big bucks, though, you must be able to write content that attracts potential customer attention and then convinces them to buy. The higher the conversion rate you earn for your clients, the more valuable you become.

To learn more or to hone your skills, take a look at the Copyblogger blog. Within the site, there’s a place where you can find webinars and ebooks to help you improve as a writer.

27. Editing and Proofreading

As an editor and proofreader, you look for the weak points in a story or other writing pieces and help the writer improve it. If you’ve got an eye for detail, then working in an editing and proofreading business can be a lucrative source of income.

28. Transcription

Digital transcription involves taking audio or video files and creating a written transcript of everything that’s said. Transcribing requires a bit more equipment to get started, but this could be a great business idea for you if you type fast.

29. Web Design

Do you have the knowledge and skill to create a website from scratch and customize it to your client’s needs? That’s all it takes. Of course, you do need your own killer website to market your services.

30. Web Developer

Web developers are the people working behind the scenes to write the code that designers use to build websites.

If the idea of coding for a living makes you happy, you can get started with various freelance gig websites. As you build a portfolio, you can strike out on your own to build clients.

If you don’t know anything about web development or coding but want to learn, there are plenty of online classes to help you get started.

31. Web Maintenance

 Beyond website design and development , website maintenance is a huge part of running an online business. The majority of people don’t know how to handle updates, backups, server issues, and website security. It’s a great way to generate a recurring monthly income.

32. Web Hosting

If you’re in web design or development, it makes sense to offer web hosting to clients as well. Many web hosting companies like Liquid Web offer reseller plans that put you in control. If you’re not in design and development, you can partner with someone to provide a full-service solution.

33. Website Flipper

An easy way to make money is to invest in online business ideas that are already profitable. Buy an existing website, hold onto it for a bit to build it up, and sell it for a profit once it has increased in value. Flippa is a leading marketplace to connect buyers and sellers.

34. Domain Flipper

This is the same concept as flipping websites, except with this one, you’re buying domain names and selling them again to someone for a profit. There is no website to go along with it.

You can also work as a domain broker, who finds the owners of domains for interested buyers and makes a deal. You’ll earn a portion of the sale for a finder’s fee.

35. Software Testing

All software, websites, and tech products need to be tested for bugs or other issues before going public. You can create an online business based on testing others’ software to find bugs, websites to report on usability, and so on. You can start with crowd-testing platforms like Userlytics , Utest , and Testbirds . You can also start your own business for quality control.

36. Build a Membership Site

Membership sites are a typical online business idea that brings people together for a long-term perspective. Membership sites allow members to access tools, online courses , and other types of products. Running and maintaining your membership site can be a little demanding but can bring in a steady stream of recurring income.

37. Sell Your Knowledge

If you’re an expert at something, take your knowledge and turn it into digital products and services. For instance, you can create an online course or ebook. 

No matter how crazy your idea may seem, do a bit of research to see if there are currently any courses out there that cover it. You’ll see what the competition is doing and how you make yours different. When you find something you feel confident in, start looking at domain names and build it out.

38. Build Apps

If you’re an app developer or willing to learn to become one, you have a virtually unlimited market for new mobile apps. You can make money developing apps for other people or partner with people to bring you ideas and marketing skills.

39. Graphic Design

If you consider yourself artistic and enjoy creating, consider graphic design. Graphic designers build sales pages, logos, web pages, and more. You don’t have to be great at drawing, and you don’t need a college degree or an expensive computer. All it takes to get started is some visual creativity and a portfolio to show to prospective clients. 

40. Build WordPress Themes

WordPress has many themes out there to choose from, but there’s still plenty of room in the market for new ones. If you’re a developer, you can build a source of passive income with custom themes. If your graphic designer, you can partner with a developer to turn your design into a workable WordPress theme.

41. Build WordPress Plugins 

WordPress plugins are essential for WordPress websites, so if you’ve got the technical knowledge it takes to create them, you can build a business. Plus, it’s scalable since you can license the software to as many WordPress users as you want. If you can’t build it yourself, you can partner with the developer.

42. Cryptocurrency Trading

Cryptocurrency is rapidly gaining popularity because there’s a lot of money to be made. If you’re okay with taking a risk and have a little bit of starting capital, you may want to try your hand at currency trading. Because it’s a volatile market, you can make money day trading as long as you’re willing to handle the risk.

43. Stock Trading

You don’t have to be a financial pro to make money in stock trading. Whether you dabble in fractional shares or have the startup capital to make some significant investments, you can earn some extra cash. Though this can be a profitable online business, it does require a certain amount of risk tolerance. If you’re not prepared to lose the money you put in, you may want to look into another small business idea.

44. Cryptocurrency Mining

Though it’s a bit more technical, setting up an online business focused solely on cryptocurrency mining or creating the mining rig makes you a lot of money. If you know basic mining from cloud mining, you’re one step ahead.

45. Bookkeeping and Accounting

You don’t have to be a certified public accountant to offer services to businesses. If you’ve got some experience and a knack for numbers, you can build a successful online business helping keep track of books for other companies.

46. Tax Prep

If you’re an accountant or otherwise familiar with tax preparation, you can start an online business dedicated to helping others prepare their tax returns. Though you’ll be busiest during tax season, you can stay busy year-round. 

47. Financial Planning

With a wide range of online investment tools, it’s an excellent time for the personal finance industry. Nearly half of the population has no plan for retirement . There’s a real need to plan for retirement and save for the future. Advisors do not need to work for large investment firms to build a financial planning business.

48.  Peer to Peer Lending

Traditional loans aren’t for everyone. With peer to peer lending, you connect borrowers to individual investors who want to make competitive returns with their money. It does require some capital to start, and there is risk involved.

49.  Make and Sell Candles

With a bit of wax, coloring, and essential oils, you can create candles or wax melts. Sell on Etsy, other online marketplaces, and through your own ecommerce site.

50. Make and Sell Jewelry

If you’re crafty, you can make your own jewelry and sell it on your own online store or Etsy. You can also source jewelry from manufacturers for dropshipping.

51. Soap and Lotion Making

Much like making candles and jewelry, you can make soaps, lotions, bath soaks, etc., and sell online with Etsy and other marketplaces.

52. Gift Basket Design

Gift baskets are still an option for friends, family, and coworkers. By having various supplies on hand for numerous occasions, you can put together various gift baskets and sell them. Creating several different packages to choose from gives you greater control over your profit margin.

Research shows that gifting food is becoming a widely accepted practical option during the coronavirus and beyond. The increase in food gifting is an opportunity for gift basket companies. 

53. Floral Arrangement

Fresh flowers are an integral part of weddings, Proms, and other events. If you’ve got an eye for design, you can start a successful business with floral arrangements. You’ll be able to make even more money if You have the option to include small gifts with the flower delivery.

54. Party/Event Planning

If you have a knack for planning parties, baby showers, weddings, etc., you can start an online business as an event planner.

To get started, pick a niche based on your skill set and market demand. For instance, you can focus on starting a business centered on weddings, birthday parties, or baby showers.

From there, build your niche website, then use social media and Facebook Ads to start spreading the word.

 If you enjoy baking, you can start an online bakery. You can take custom orders for cakes, cookies, pies, and other baked goods to make money.

To supplement your income stream, you can create baking kits with everything you need to make a particular baked good -then sell those as gifts or as solutions for customers who want a from-scratch product without all the hassle.

56. T-Shirt Business

Have an idea for a cute, funny, or catchy t-shirt you think others would really enjoy? With print-on-demand services , you can launch a full ecommerce store selling t-shirts without ever carrying an inventory.

57. Phone Case Business

Along the same lines as the tshirts business, you can create a print-on-demand business for phone cases. Cover your bases with the most popular Android and iPhone products. Then, expand into tablet cases.

58. Real Estate Crowdfunding

Want to build a real estate business without a lot of capital to get started? You can invest in it with others online and generate income without the responsibility of directly owning the property.

59. Customer Service

If you enjoy working with people and have a background in customer service, you can start an online business providing customer support for other companies. Platforms like ModSquad make it easy to get started.

60. Virtual Tech Support

Similar to the customer service business, this is an ideal option for people who are savvy with technology and computers. Those who aren’t tech-savvy can come to you with issues, and you can help them solve their problems remotely. As a tech support agent, you could work for another company or go out on your own as a full-time freelancer.

61. Teaching and Tutoring

Many people, not just certified teachers, can make money teaching and tutoring online. If you’re an expert in something, you can make money by showing others how to improve their skills.

If you have a formal education in Education, you’ll be eligible to work with more sites like VIPKid , which only allows licensed teachers to teach English to students in foreign countries.

62. Language Services

If you’re fluent in more than one language, you can host classes, private tutoring sessions, and create several other products centered around teaching people a second language.

Beyond teaching another language, you could also offer your services as a translator.

63. Foreign Culture Consultant

If you’re an expert in another culture, you can provide services as a foreign culture consultant. People who are planning an international trip or hosting a foreign exchange student may be interested in your services so they can prepare ahead of time.

64. Start a YouTube Channel

Though it may seem like the market is saturated, there are still plenty of opportunities to make money on YouTube. Choose a niche you’re passionate and knowledgeable about. Earn through advertising and brand sponsorships. You can also convert your YouTube videos to MP3s and promote them on other channels.

65. Start an OnlyFans or Patreon Channel

OnlyFans has a controversial reputation because there are no restrictions on the type of content you can upload (and lock behind a paywall.) While there is certainly no shortage of adult content on the platform, that doesn’t mean your OnlyFans channel has to be centered on that. 

Both OnlyFans and Patreon allow content creators to earn money for the things they create.

66. Dropshipping

If you have a business idea but don’t want the hassle of purchasing and storing inventory, then an online business in dropshipping may be what you’re looking for. A dropshipping business connects with wholesalers to ship the products directly to your customers. Get started with platforms like Spocket , today.

You can find a wide variety of products through platforms like Alibaba or Spocket . Sell on Shopify or another ecommerce platform. If the platform you sell through integrates with your chosen dropshipping service, you can manage everything from a central location, making it easier for you.

You can easily run more than one ecommerce business at the same time using th e dropshipping business model.

67. Stock Photography Business

If you’ve got decent camera equipment and an eye for photography, then you can get paid for your photos. Many stock photography websites purchase photos from photographers like you and a percentage every time your images are used.

68. Sell Your Music

Do you write music? With a platform like TuneCore , songwriters can get published and distributed without a record deal. Plus, they handle royalties, so you’ll get paid every time someone purchases or streams one of your songs.

69. Build an Online Game

Online games like World of Warcraft are popular, with good reason. If you have a concept or idea for an online game, you don’t need to learn to build it yourself. You can partner with a developer to do it for you. Even if you make the game free to play, you can earn through advertising and in-game purchases.

If you want to start an online business with a game but don’t have any ideas for products, there are plenty of business opportunities out there for you. Many app developers create apps and flip them just like websites. You can purchase an existing game and then look for ways to start increasing its revenue.

70. Create Software as a Service

Known as SaaS, this is a software you build and license for a monthly fee. The software is available online from anywhere there is an internet connection. So If you can’t handle the software development  yourself, you can partner with someone who can and earn with the subscription model.

71. Sell Digital Printables and Planners

If you love organization and helping people get organized, you can create a series of digital documents for planning. By selling the printables, your customers can purchase and print just what they need, and you can make recurring revenue.

72. Recruiter

Companies spend a lot of money trying to find the right employees to fill open positions. You can work as a recruiter to connect potential candidates to employers who would be interested. You earn each time one of your recruits gets hired.

73. Direct Sales

I’m not talking about joining one (or more) multi-level marketing companies like Tupperware or Colorstreet. Instead, you’ll work as a commission-based salesperson on behalf of multiple companies. You replace the need for an in-house sales team.

74. Travel Consultant

Do you enjoy making travel plans for yourself, friends, and family? Make a consulting business out of it! Specializing in a niche helps to establish authority for a particular type of travel or a specific region.

75. Data Analysis

To make informed decisions about your business, you need data. But more than the data itself, you need to know what it means. That’s where data analysis comes in. It turns all the numbers and information into actionable insights small business owners can use to guide their decisions. If you consider yourself a data nerd who loves diving into analytics, this could be the right business for you.

76. Wellness Coach/Personal Trainer

If you’re a fitness buff who understands how to build a workout and nutrition plan, you can earn an income by helping people get healthier. You can do this with a business model that includes virtual group classes, one-on-one sessions, or online courses. 

You might want to consider working as a wellness or mental health coach, which is similar to life coaching but focuses on health. Certificate programs are available to help you build credibility and expertise.

77. Business Coach

Much like life coaching, business coaching means working with business owners to help them reach their goals. You don’t have to have any formal education to make it work – just results.’

78. Life Coaching

We can’t always do it all on our own. Life coaching helps people in various ways -happiness, relationships, health and wellness, finances and career, etc. To become a life coach, you don’t have to have special training, though certification helps. You can work in your local area with clients in person or expand your reach with video sessions.

Want to learn more about life coaching? Listen to the Life Coaching School Podcast .

79. Dating Coaching

As a dating coach or online dating consultant, you offer people guidance about connecting with others on various dating sites. Your ideal clients are those who spend a lot of time on the apps but come up empty or are disappointed with the results. Basically, you serve as an online matchmaker.

80. Teach a Musical Instrument

Do you play an instrument? You don’t have to be a professional level player to teach others. Whether you play the piano, guitar, or another musical instrument, you can book private lessons with students.

81. Sell Voice Lessons

This is the same as teaching a musical instrument, but in this case, the instrument is your voice.

82. Recycle Electronics

If you want to do your part for the environment and make some money, too, you can earn by recycling electronics. Starting a business repairing things that aren’t wanted or needed, then reselling them is easier than many may realize.

83. Art Lessons

Are you artistic? You can make money by teaching others your skill. Whether you do it through online courses or private lessons, there’s plenty of opportunities.

84. Online Researcher

Every day, an insane amount of content gets added to the internet. Though many of us have basic research skills, this job is more than just searching for a topic on multiple search engines.

If you love sorting through information and can tell a quality source from “fake news,” you can start an online business as a researcher. You can conduct/locate market research, help private investigators, conduct academic research, and more.

85. College Admissions Consultant

As a college admissions consultant, also known as an independent education counselor, you’ll work with parents and students to determine the schools they should apply to. You’ll also help with the application and essay writing process. To further your consulting business, you can also offer financial aid guidance, help with scholarship applications and essays, SAT/ACT test prep, course selection advice, and more.

86. Public Relations

If you have experience with marketing strategies and connections in the press, instead start an online business doing public relations work for other companies. This includes online reputation management, influencer outreach, and more.

87. Crowdfunding Consultant

If you’re starting a new business but looking for capital support to make your product or service come to life, then you may turn to crowdfunding platforms like Kickstarter and Indiegogo. But, without the right planning and execution, the campaign is sure to fall flat. 

For companies who want to make the most of their crowdfunding efforts, crowdfunding consultants step in to help plan and execute the campaign – from all the assets to advertising and rewards. 

88. 3D Printed Products

3-D printers are no longer unattainable for the average consumer. With a few hundred dollars, you can start a profitable online business selling your own 3-D printed products.

Though the startup costs for an ecommerce business like this one can be a bit higher than a dropshipping business, for instance, the sky’s the limit. You can build your ecommerce website selling whatever 3D printed product you want to make.

89. Content Curator

 Content curators sort through data online and collect the most relevant content to share on social media, blogs, and websites.

Businesses who frequently share promotional content online will have trouble keeping their audience engaged. That’s where sharing content from other sources but still has value to their target audience comes into play.

You can start a content curation business, collecting relevant content for other small businesses. Expand upon that business by adding social media management services and social media marketing.

90. Meal Planner

Plenty of people want to save money and eat healthier by cooking more of their meals at home. However, they don’t take the time to plan their meals either because they don’t know how or they don’t have time. That’s where you come in.

More than one business model works here. You can:

• Create a series of meal plans for the most popular diets out there to sell online.
• Offer personalized meal plans based on one on one consultation.
• Use a subscription model to provide meal plans to paid members every week.
• Create online courses or other products that teach people how to plan their meals on their own.
• Use a hybrid approach combining one or more business models.

Take a look at how Once a Month Meals does it. It’s a membership site full of freezer cooking meal plans. Paid members get access to everything they need (shopping lists, labels, recipes, directions, etc.) to create customized meal plans. Free members get limited resources.

91. Project Manager

If you’re experienced with platforms like Trello, Asana, or Wrike, you can help other small business owners and bloggers stay organized. As an expert, you can help them manage projects or train them on the platforms’ finer points to make it easier for them to handle things themselves.

92. Branding Consultant

As a branding consultant or branding strategist, you’ll help companies determine what customers want and how they can provide it. You essentially serve as a one-person marketing team.

93. College Prep Tutor

Many high school students need an extra boost in getting ready for the SAT or ACT. You can easily run an online business aimed at helping students get a better score.

94. Design Email Newsletter Templates

Online entrepreneurs need multiple ways to reach their audience. Email newsletters are a popular way to stay in touch with customers. You can design templates for other online business owners to use with their email lists. 

As long as you have some basic knowledge of design and marketing skills, you’ll be good to go. After you create a few pre-designed templates, you can sell them to blog owners and entrepreneurs. You can make templates that work with multiple email marketing platforms or choose one to specialize in.

95. Data Mining

 Data mining is what companies use to convert their raw data into useful information. If you’re into programming languages like Python and R, you can quickly learn data mining software suites and start a business offering data mining to other small businesses.

96. Content Strategist

 As a content strategist, you’ll plan, write, and edit content for businesses. You’ll use marketing strategies to distribute the content across social media platforms and the web. You’ll keep the content on-brand message and work to help businesses reach their goals with the content you create.

97. Illustrator

Love to draw? You can provide your services as an illustrator to authors for books, web design, product tutorials, and more. Build a portfolio and ask people for referrals. You can also cold email businesses to see if they are interested in your services.

98. Sell Slogans

If you like coming up with catchy slogans, you can start a small business selling them for other companies to use. It’s an excellent way to break into the advertising business, too.

One way to get money off of your slogans without selling them directly to others is to sell products with your slogans on them. You might want to offer potential customers the choice of product with a platform like Printify.

99. Charisma and Confidence Training

This is one of my favorite online business ideas. Charisma and confidence are two skills that make life more comfortable, and yet, it’s an area where lots of people struggle.

Even if you’re not an authority in the field, you can teach people confidence, social skills, and charisma based on what you’ve learned through trial and error in your own life. You can start a blog and YouTube channel to build authority in the industry, without any formal education or expertise.

100. Start a Clothing Line

With a bit of creativity and a flair for fashion, you can start your own clothing line , without ever having to sew a thing. Start out by selling a single product, and expand to offer other clothing items, just like Black Milk Clothing . 

What Makes Online Businesses Successful

Starting an online business is not easy. Just because there are so many business ideas for beginners out there doesn’t mean you don’t have to work to get it profitable.

While there are many ways to start a great online business, you still have to work hard. Low barriers to entry and little startup costs often mean that lots of people jump in, so there can be a considerable amount of competition. Running an online business is about more than finding an idea you like and running with it. So before I send you off to get started building one of these small business ideas, I wanted to talk about some of the things that make a successful online business.

Looking at the Big Picture

When you start an online business, you have to have a plan, but you also need long term goals. What do you want your business to look like a year from now? What do you want it to look like five years from now?

The most successful entrepreneurs know how to look ahead while also focusing on what’s in front of them. Failure to see the big picture can stifle growth.

Using Tools and Automation

In the beginning, you may be continuing to work your full-time job while starting your online business. Even if you were a stay-at-home parent before, there’s only going to be a limited amount of time to focus on getting the company up and running. With limited capital, it may be difficult to hire any kind of contractor or employee to help you grow faster.

With social media marketing tools, scheduling tools, and automation, it is now easier for one person to get more things done than they used to. Though the initial setup process does take some time, creating a series of automated processes to handle tedious tasks such as invoicing can help save time that entrepreneurs then use for more critical tasks. 

Outsourcing Where Necessary

Online businesses need social media marketing, paper click advertising, content marketing, and a website to succeed. However, if you’re not an expert in any of these things, it can be far more effective to hire someone who does understand these things.

Though you take the time to learn new skills yourself, it may mean losing money or letting your business suffer while you do. Outsourcing does cost time and money but often makes it easier for you to grow faster since you can focus your efforts on the skills that are your strongest.

Continuing Education

The idea that once you start a business, you know all there is to know is plain silly. Regardless of industry, things change, and in certain industries, they change quite rapidly. The best entrepreneurs know they need to learn more. They continuously look for new information and stay on top of industry news and trends.

Differentiating from the Competition

Even if there isn’t a lot of competition in your industry, having something that sets you apart and makes you different from the others in your market goes a great way toward reaching your target audience. If people can’t tell you from your number one competitor, you’ll have a hard time captivating potential customers and staying at the top of their minds.

Knowing their Value Proposition

One of the best ways to stand out from the competition is to know and understand your value proposition. Without that, your core messaging and your overall brand will suffer. When those are not as clear as possible, your conversion rates will also be lower.

The great thing about being an online entrepreneur is that you can run multiple successful online businesses. The best online business to start isn’t the same for everyone. What works for one business owner may be an idea that terrifies another. No matter what kind of online business you want to start, the key to success is taking your time and researching your target market and competition.

All that said, as an aspiring entrepreneur and small business owner, it’s crucial to do your homework on the business side of things. You can start an online business as a sole proprietor. You may need a business license , depending on where you’re operating your business. However, as you grow, it may be more advantageous to consider forming an LLC or other company entities. Before starting an online business, make sure you abide by all local, state, and federal laws. For help with this, you can turn to an attorney and a tax professional. If you don’t have a lot of capital for startup costs, there are services available online to help you.

I hope you enjoyed this list of ideas for beginners . Starting an online business isn’t for the faint of heart, but it is easier now than ever before.

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How to start an online business in 8 steps.

Our evaluations and opinions are not influenced by our advertising relationships, but we may earn a commission from our partners’ links. This content is created independently from TIME’s editorial staff. Learn more about it.

The internet has reshaped where, when, and how people shop for goods and services. The popularity of digital shopping has opened a world of opportunities for online business owners. With a computer and a stable internet connection, you can work from anywhere, set your own schedule, and sell to customers worldwide while avoiding the hassle and costs of owning a brick-and-mortar business.

Whether you're just starting to brainstorm about the best online business ideas or already have a concept in mind, here are some tips for getting your business up and running.

8 Ways to start your online business

1. establish a business niche.

If you haven't done so already, you'll need to decide what you want to offer and who your target customers will be. Here are a few factors to consider:

Your interests

Mark Twain once said, "Find a job you enjoy doing, and you will never have to work a day in your life." While only some would agree with this work/life approach, it's a good starting point for choosing a business niche. Think about your passions, skills, and expertise, then focus on ideas where they intersect.

Target audience

Consider your target audience and whether they have a problem no one else is solving or a product no one else is providing. If so, do they have the discretionary income to afford your product or service and are they willing to pay for it? Will there be adequate demand?

Profit potential

Consider if your niche has profit potential in an online environment. For example, an overly large or heavy product may be too expensive to ship at a reasonable cost. Is the idea scalable so you can accommodate more customers and transactions in the future?

2. Choose a business model

A business model is how your company will provide products or services to customers and make money. Some options to consider include:

• Affiliate marketing. Promote other businesses and receive a commission for each sale you make.
• Coaching and consulting. Share your expertise and offer guidance.
• E-commerce. Launch a website and sell products online using one of the best payment gateways .
• Franchising. Pay a franchise fee and operate under an established brand.
• Freelancing. Offer a service such as writing, programming, web design, or social media marketing.
• Information products. Create and sell eBooks or online courses.
• Subscriptions. Package software or subscription boxes and charge a recurring fee.

3. Write a business plan

A good business plan outlines the steps to start and manage your business. The important thing is to think through the key elements of your venture while focusing on your goals. According to the Small Business Administration (SBA), a traditional business plan format includes some combination of the following:

Executive summary

Explain what your company is and why it will be successful. This section should include your mission statement, product or service, basic company information, and financial details if you need financing.

Company description

Provide detailed information about your company: the problem it solves, your target audience, and your competitive advantages.

Market analysis

Explain your industry outlook, what other businesses are doing, and how you can do it better.

Organization and management

Outline who will run your company and how it will be structured. Will it be a general or limited partnership, a C or S corporation, limited liability company (LLC), or are you a sole proprietor?

Service or product line

Describe the product or service you offer, explaining how it benefits your target customers.

Marketing and sales

Explain how you will attract and retain customers and the steps for making a sale.

Funding request

Explain the level of funding you'll need over the next five years and how you'll use it. Include financial projections detailing your forecasted income, cash flow, and budgets. Research how to get a business loan , and familiarize yourself with the SBA website to learn more about its loan programs.

4. Develop your brand

Once you know what you'll sell and how you'll run the business, developing your brand is next. You'll have to choose a business name and create a logo. This process can be relatively simple if you already have ideas in mind—or challenging if you're starting from scratch. You might want to hire a graphic designer to implement your vision.

5. Create a website

Once you have developed your brand, it’s time to build a website. You’ll need to lock in a domain name and choose a hosting service. There are website builders, such as Squarespace , available to help you get started—or you can hire someone to do the work for you.

6. Cover legal bases

The next step is to make your business official. While the requirements vary by business, here are the essential action items:

Register your business

Registering with your state gives you legal grounds to use your brand's name. You can utilize a service like LegalZoom to register as a sole proprietor, LLC, corporation (C corp or S corp), nonprofit, or DBA (doing business as). Consult a tax specialist for help choosing the best business structure for your situation.

Apply for an EIN

You'll need an Employer Identification Number (EIN)—a federal tax ID—to pay federal taxes, apply for business licenses and permits, open a business bank account , and hire employees. You can apply for an EIN for free on the IRS website . The IRS says to beware of websites that charge for this free service.

Licenses and permits

Depending on your business activities and location, you may need licenses and permits from your state, county, or city. Check with your state's website (e.g., ca.gov, nc.gov) to determine your necessary licenses and permits.

Most businesses must file an annual income tax return, and the form you use depends on how your business is structured. Online services like Found, a banking and tax app designed for small business owners, have tools to make keeping track of taxes easier. It's also helpful to establish a relationship with a trusted tax specialist.

7. Market your business

Once your online business is ready for the world, it's time to market it. While marketing strategies vary depending on your business model and target audience, here are a few options to consider:

• Include your brand in online directories.
• Create social media profiles and share high-quality content often.
• Launch compelling email marketing campaigns.
• Use SEO best practices to optimize your site for search engines.
• Collaborate with influencers to promote your brand.
• Leverage your network—including professional contacts, friends, and family.

8. Reward customer loyalty

Keeping existing customers happy is often easier than generating new leads, so it can be worth the extra effort to reward them for their loyalty. Consider offering discounts to repeat customers or perks to patrons who refer friends and family. You might also provide spending-based rewards or incentives for sharing positive reviews on social media.

Of course, one of the best ways to reward loyalty is to connect with your customers personally, making sure they always feel welcome and appreciated. That way, they'll be more likely to become repeat customers, recommend you to friends and family, and help you grow a thriving online business.

Why should you consider starting an online business?

Consumers increasingly prefer shopping online, providing virtually unlimited opportunities for digital entrepreneurs to reach a global audience. Further, many of the traditionally time-consuming aspects of starting a business have been simplified—and made more affordable—by websites such as LegalZoom .

One outcome of the pandemic was the emergence of new and enhanced tools that make remote work not only possible, but more efficient. As a result, it's easier than ever to work anywhere in the world with a laptop and a reliable internet connection.

How to save when starting an online business

Businesses have a slew of start-up costs that can be difficult to manage before you're up and running. Here are a few ways to make balancing the budget a little easier.

Rewards credit cards

A business credit card is an excellent way to keep your business and personal expenses separate for accounting purposes, but that's not the only perk. With the best small business credit cards , you can also earn rewards on your spending, enjoy perks like free travel insurance, and score a hefty welcome bonus.

Tax prep software

A good way to save money in the early days of your business is to use upgradable tax prep and other business-related software. Start with the free version, then upgrade to the premium package once your business takes off.

Payment processing

You'll need a payment service provider to accept online payments. Not surprisingly, some payment solutions are more expensive than others. For example, Square charges 2.9% + $0.30 for online transactions, while Venmo costs 1.9% + $0.10 between Venmo accounts. Of course, fees shouldn't be the only consideration when choosing a payment service provider. Still, they're worth paying attention to; even small differences can add up over time.

TIME Stamp: Research and strategy are key to success

Starting an online business involves many of the same steps as opening a brick-and-mortar business. You’ll need to determine your niche, conduct market research, craft a well-thought-out business plan, and develop a brand and website. Implementing a successful marketing plan is also key to building and retaining a solid customer base.

Frequently asked questions (FAQs)

What is the best type of online business to start.

The best online business for you depends on your professional background, skills, interests, and goals. Think about what you're good at and enjoy doing, then brainstorm ideas for monetizing it.

Which kind of online business is most profitable?

There are a wide variety of online businesses ranging from e-commerce to private tutoring. How profitable one is over the other depends on a number of factors. The start-up and ongoing costs of some are nominal compared to others. For example, an online tutoring business would typically have much lower costs than selling collectibles online. Demand, competition, and how well an online business is managed also impact profitability.

Can I start an online business with $100?

You can start an online business on a shoestring budget. With $100, you’ll be able to buy a domain name, build a basic website (using a free template), and publish the site through a web hosting provider long enough to get you started. Of course, some ventures have higher start-up costs, so you may well need considerably more than $100, depending on your business.

The information presented here is created independently from the TIME editorial staff. To learn more, see our About page.

70 Small Business Ideas for Anyone Who Wants to Run Their Own Business

Published: March 19, 2024

A good business idea may seem hard to come by, but with some planning and preparation, you can easily launch a small business to supplement your income — or become your own full-time boss.

Maybe you already have an idea of the business you’d like to start. But while you might feel ready for a new venture and passionate about your idea, you might be looking for some direction.

To help get you started, here's a list of small business ideas separated into a few sections:

• What makes a good small business?

Best Small Business Ideas

Best businesses to start with little money, home business ideas.

• Online Businesses Ideas

Easy Businesses to Start

Business ideas for students, creative small business ideas, how to start a small business at home, starting a small business: faq.

The first step to becoming a successful entrepreneur is finding a business idea that works for you. In this article, you’ll find dozens of small business ideas you can start from home and scale up as your clientele grows. Let’s get started.

What makes a good small business idea?

Not all small business ideas are made equal: Some require more effort and funding than others, while some can be launched with few resources — or resources you already have. As a potential small business owner, you’ll want to save as much money as possible on training, rent, supplies, and other necessities.

Let’s go over what makes a good business idea:

• Requires little to no training . A good small business idea will ideally leverage your existing field of expertise and require little to no training. That will not only shorten your time-to-launch, but also lessen your expenses, since training courses can cost a significant amount of money. Plus, you’ll be more confident offering services that you feel prepared to deliver.
• Requires low setup costs. Your business should be cheap to start. Maybe you only need to purchase a website domain or buy a desk for your garage.
• Requires little hands-on inventory or supply management . A great business idea needs few supplies and little inventory management. If you want to sell physical goods, you can either try drop-shipping and manually make goods in small batches.
• Is based online . The best small business ideas are based online and can be carried out from your personal computer. This will automatically lower your commuting costs and give you greater flexibility over your personal and work life.
• Can sustainably be managed by few people . As a small business owner, you won’t have the funds to hire other people to help you run your business — at least not at first. A good business idea should give you the ability to run your business on your own.

Free Business Startup kit

9 templates to help you brainstorm a business name, develop your business plan, and pitch your idea to investors.

• Business Name Brainstorming Workbook
• Business Plan Template
• Business Startup Cost Calculator

You're all set!

Click this link to access this resource at any time.

Airbnb Co-founder, Brian Chesky, said, “If we tried to think of a good idea, we wouldn’t have been able to think of a good idea. You just have to find the solution for a problem in your own life.”

If you’re like Brian and you’ve already thought about a solution for a problem you encounter in your life — or you’re on the path to doing so — then starting a small business may be in your future. It may also be for you if you dream of clocking out of your nine-to-five job for the last time and becoming your own boss.

Below, we include the best ideas for you to start your small business — with resources and examples to help you get started.

1. Handyman

8. Life/Career Coach

If you have experience navigating career, personal, and social transitions successfully, put it to good use as a life or career coach. Many of us are looking for guidance in our careers — and finding someone with the time to mentor us can be tough.

Life/career coaches don’t come cheap, but they are able to offer clients the intense and hands-on training and advice they need to make serious moves in their personal and professional lives. After all, everyone needs some uplifting advice from time to time.

To start your life/career coaching business with confidence, you can look for a certification program (like the Life Coach School’s or Diane Hudson’s ), then apply your skills as you acquire new clients.

A resume writing business is economical, has few overhead costs, and has few educational requirements. We still recommend having an Associate’s or Bachelor’s degree and a few resume samples on hand. If you still feel that you need to brush up on your resume writing skills, you can take a course like Coursera’s or LinkedIn Learning’s .

Once you’ve gotten resume writing down, you can expand your business to include cover letter writing and even offer career coaching services in conjunction with these services.

10. Freelance Writer

If you have writing skills , there’s someone out there willing to pay you for them. Write blog posts, magazine articles, and website copy galore — just make sure you have a body of work built up to share with potential clients. Even if you create a few sample pieces to have on hand, they’ll help exhibit your work and attract new business.

To become a freelance writer, it’s essential to choose a specialty. For instance, you might choose to only write for publications in the healthcare industry (maybe because you were previously a healthcare worker) or focus on lifestyle publications. Whatever the case, specializing will help you find your niche market and gain confidence as a new freelancer writer.

There are no educational requirements for freelance writing, but you do need strong writing skills. It also helps to enjoy writing. While certification may be beneficial, getting practice and writing every day is more important. Try these writing prompts to start.

11. Landscaper

Mowing, tree-trimming, and seasonal decor are all neighborhood needs. If you have or can acquire the equipment, a landscaping business can be a lucrative affair. It’s also a great choice if you enjoy doing it for your own home and have a good eye for landscape design.

The good news is that you can start small. For instance, you could offer your neighbors seasonal planting services and start with a few perennial plants, or simply offer mulching services.

To grow your landscaping business, you should consider taking some formal training. The following organizations offer courses:

• New York Botanical Gardens

After completing a course and getting enough experience, you can apply for a certificate from a landscaping organization. While a certificate isn’t necessary to work in the field, it can build your credentials and help you make industry connections to take your landscaping business to the next level. The Association of Professional Landscape Designers offers one potential certificate you could pursue.

Some states require licensure, especially if you’ll be using pesticides and fertilizers. Be sure to review the requirements for your state.

Learn some of the basics now with this video on landscape design from Lowe’s:

12. Videographer

Video production requires you to have invested in the equipment up front, which can be quite expensive. But that’s also what makes your services so valuable. Make sure you have a reel of your work to share or create a website with several selections of your work available for interested viewers.

There are no educational or licensure requirements for starting a video production business. As with writing and other creative arts, though, it pays to specialize. Real estate videos differ radically from wedding videos, and wedding videos differ radically from in-studio interviews and testimonials. By specializing, you target a highly specific customer who’ll benefit the most from your services, and you can also skill-up more effectively in one shooting style.

While you can find general classes on videography, you should consider taking a class in the type of videography you’d like to do. For instance, you could take The Complete Wedding Videography Course .

Hot tip: If you’re interested in specializing in video marketing, check out The Ultimate Guide to Video Marketing and download our starter pack below.

13. Photographer

Start by conducting photo shoots for your family and friends. As you build a body of work, ask for referrals and reviews. Photography businesses often grow by word of mouth, so create a Facebook page where you can tag recent clients. Photos where you tag those clients will show up in their friends’ newsfeeds, where they can view your work. You can also ask them to leave reviews on your Facebook business page.

Like with a video production small business, you’ll want to specialize. Will you do product shoots or portraits? How about wedding or fashion photo shoots? Once you specialize, you’ll be able to create a body of work that most accurately represents your strengths.

There are no educational or licensure requirements for starting a small photography business. Still, we recommend investing in a few photography courses, especially if you haven’t used your camera in a while. Some courses you might start with include:

• Cornell’s Digital Photography Certificate Program
• New York Institute of Photography’s Course

From there, seek courses that help you build skills in your chosen specialty.

If you’re not sure where to start with freelance photography, take a look at Erica Clayton’s journey into the business below. Her advice? Give yourself a firm deadline to turn a profit.

14. Bed and Breakfast Owner

Some consulting industries are more competitive than others, so be sure to complete your research before starting a small consulting business. One way to find out how competitive a consulting niche is by doing keyword search . If your target niche is highly searched or is already dominated by big companies, you may have a harder time breaking in. You can use keyword research tools to uncover keyword volume and local demand.

If there’s room for you to enter the market, the next step is to land your first clients. Be sure to participate in local networking events covering your niche and reach out to potential prospects through cold calling and emailing. Investing in dedicated sales software can also help measure and improve your emailing strategy, as well as keep track of worthwhile leads.  

12. Event Planner

An event planning business is an excellent choice if you have great organizational and interpersonal skills, and it’s relatively cheap to start. You might choose to specialize in a specific type of event — like weddings or company meetings — or set yourself up as an event planner of all trades.

The good news is that event planners are always in demand. It’s not an easily automated job, so this small business idea is set to thrive regardless of the digital landscape. To start, you’ll want to look for a platform that will easily allow you to advertise your availability, such as event planner directories like Eventective and WeddingWire .

If you’re highly organized, detail-oriented, and have experience planning large events, it might be time for others to benefit from your skills.

13. Personal Assistant

Personal assistants help business owners and executives take care of administrative tasks. To launch a freelance personal assistant business, you should leverage networking opportunities on LinkedIn and attend small business events at local chambers of commerce. Most local business owners might not even know they need a personal assistant until you market your services to them.

If you’re an organized, highly-detailed person, the life of a personal assistant might be for you. Don’t want to be tied to one office or person all day, every day? Consider becoming a virtual assistant, which allows you a more flexible work environment.

To become an assistant, choose a niche — will you be helping women business owners specifically? Do you have a specific field of expertise, like bookkeeping? A website can also go a long way, and be sure to print business cards for you to hand out during networking events.

14. Consignment Shop Owner

If you have an eye for style but don’t want to invest in the inventory of a brand-new boutique, consider starting a consignment shop. It will allow you to curate a collection of clothing that matches your goals and aesthetic without the overhead of a boutique selling entirely new garments.

The beauty of a small consignment business is that you can now start one online. You can sign up on a platform such as Poshmark , Depop , and even Etsy , then easily start selling your own used fashion from home.

Once you’ve defined your niche — such as vintage clothing, unique locally made art, or colorful shoes — you can begin sourcing new products from your local stores and thrift shops.

15. Caterer

If the personal chef gig is too restrictive for your schedule, consider catering instead. Pick your projects, work on fewer but larger events, and hone in on your time management skills.

Becoming a caterer is a natural step for those who are used to cooking for large events — for instance, you may have already catered your friend’s wedding or brought a 20-person meal to a potluck (that counts, too!).

It’s essential that you have enough temperature-regulated storage for the meals prior to each event, and that you arrange for reliable, temperature-controlled transportation to and from your home kitchen. Alternatively, you can lower your costs by inviting customers to pick up their order at your home.

16. Gym Owner

Kickboxing gyms, yoga studios, CrossFit, oh my! Turn your passion for fitness into a community for others by creating your own gym — start one from the ground up, become an affiliate, or open a franchise location.

Available franchise opportunities include Anytime Fitness, Orangetheory Fitness, Pure Barre, Planet Fitness, Crunch Fitness, and more. Be prepared to take out a loan to finance your franchise — most agreements start with fees upward of $20,000. But the payoff can be tremendous due to brand recognition. You’ll have no trouble recruiting new members as long as you use local marketing strategies .

Alternatively, you can create a local studio, but ideally, it should be for a specific activity instead of general fitness. Yoga, pilates, bootcamp-style gyms, and martial arts perform well as independent fitness studios.

17. Boutique Agency Owner

What’s your specialty? Whether it’s marketing, social media, or PR, it might be time to start your own agency. Many other small businesses need this type of help but don’t have the resources or volume to necessitate a full-time position.

To start an agency, you would ideally have worked in your specialty for a number of years. You should also be prepared to interface directly with clients, fulfill their requirements, and temper their expectations (if they want results in an unreasonably short amount of time).

Consider building a small team and learn from other entrepreneurs who’ve successfully started their own agencies, like Duane Brown of Take Some Risk .

18. Coffee Shop Owner

Turn your caffeine addiction into something a little more lucrative. Opening a franchise or buying an existing shop are lower-risk entry points to the coffee game, but they usually require a little more cash upfront. Starting a shop from scratch requires more planning and work — but it also maximizes your earning potential in the future.

A coffee shop is an excellent fit if you already have a full-time remote job and wish to supplement your income with a small business. You can manage the coffee shop as you work at one of the tables, but be sure to have the budget to hire an experienced barista who can pick up the slack.

If you would like to open a coffee shop and run it full-time on your own, you’ll need to undertake barista training, understand worldwide coffee sources, and have excellent customer service skills.

19. Moving Company

A truck, moving equipment, manpower, and the correct permits and insurance are the building blocks of starting your own moving company . Before you buy your first fleet of trucks, however, start small with a moving van and keep your costs low.

Still sound like too much of an initial investment? Consider offering packing services only, which have a much lower financial barrier to entry. You can partner with moving companies and offer to do their packing, or have them refer clients to you.

You could even take a niche approach to the industry as Astro International has by offering international moving services.

2. Vending Machine Owner

Since 2015, the growth rate for vending machine businesses has increased 1.4%. Even as social distancing restrictions are still in place, this business can still be lucrative if you choose the right locations. High-traffic is key — places like hospitals, schools, and community centers are smart places to start placing your machines to generate enough revenue to cover cost and turn a profit.

3. Social Media Manager

Do you have a knack for social media? As a social media manager, you can use your skills to manage the social media accounts for companies and even individual people. Influencer marketing has become more common and many influencers rely on marketing agencies or employees to help them run their social channels.

Online Business Ideas

If you want a business idea that you can run entirely online, check out the ones below. These ideas are ideal for those looking for a passive income stream. In other words, you shouldn’t need to do too much manual work to launch these businesses from your home or preferred business location.

1. Become an online reseller.

To become an online reseller, all you need is some business savvy and some funds to invest in product stock from manufacturers — or, of course,the willingness to sell your own used items. Generally, this is a low-touch but high-performance way of creating a passive income online business.

Online resellers usually use a platform, such as Facebook Marketplace or Amazon Sellers, to sell either their own or manufacturers’ stock. The benefit of using Facebook Marketplace is that you can begin today with your own Facebook account, and simply list items that you already own.

Interested buyers typically drive directly to your home for pick-up — but if you’re not interested in human interaction, you can leave it outside and have the buyer pay via an online platform.

Blogging is one of the most accessible small businesses to start, and there are countless niches to choose from. That said, because there are many blogs online, you’ll need to learn blog SEO and keyword research to ensure your audience finds you. That way, you actually make money out of your blogging efforts.

The great news is that a small blogging business has a ridiculously low overhead. All you need is a custom domain and your time for writing blog posts. Although finding the right topic ideas and outlining your posts may seem challenging at first, especially if you’re new to writing, you can let a blog ideas generator do most of the grunt work for you.

These tools leverage Artificial Intelligence to help you brainstorm ideas and set up your content structure. That way, you can kickstart your creative juices and begin writing about what you love right away. 

5. Home-Baked Goods Seller

Warehouse-made, store-bought chocolate chip cookies will never compare to a batch made with love in someone’s home. Simple desserts can be easily baked and packaged to sell at local events or around your neighborhood. Use custom labels and watch the word spread about your goods!

You can begin a baked goods business easily by opening a Facebook and Instagram profile. Facebook and Instagram are both excellent platforms to market your goods, show pictures of your previous baked products, and even showcase happy clients.

Build a loyal following slowly, and save on costs by asking clients to drive to your home to pick up their order. Choosing a niche can be helpful here, or baking in a specific style that can’t be found at grocery store bakeries. The overhead can be especially low if you already have most essential baking supplies.

6. Ecommerce Store Owner

Do you create, collect, or curate anything special? Consider starting an ecommerce store and turning your hobby into a full-time job. Whether you need somewhere to sell all that pottery you’ve been making, or an excuse to search for the sports memorabilia you love tracking down, an ecommerce store can make it financially viable for you to pursue your passion.

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Starting an ecommerce store is simple and easy. You can set up a shop using an ecommerce website builder , all of which start at a minimal monthly subscription (some even start at free). Be sure to take good photos of your products and write descriptive product pages .

If you don’t have inventory, you can always own an ecommerce store by using dropshipping . Instead of creating and shipping your products yourself, you’ll instead partner with a dropshipping website and have them mail out the orders directly to your client.

7. House Cleaner

With a low barrier to entry, house cleaning can be a great way to start doing what you love — soon. Consider advertising to homes in your neighborhood and get more bang for your buck by earning a few small businesses as clients as well. They’ll usually bring in a higher paycheck for a similar amount of work.

To become a house cleaner, you should be prepared to invest in cleaning supplies and accessories, or be willing to use your own. If you plan to serve small businesses, you should buy industrial janitorial supplies so you can get work done more effectively.

Need some inspiration? This small business cleaning service grew virtually overnight on Instagram after their content went viral during the pandemic.

Get HubSpot's Free CRM Software

4. create a business plan..

No business plan? No business. Particularly if your small business idea requires investors, you'll need to draft up a business plan to provide an overview of your market positioning, your financial projections, and your unique competitive advantages. You can download HubSpot's free business plan templates for free to get started.

Learn more about choosing the right structure for your business from the Small Business Administration.

6. Create a business bank account.

Once you have a legally formed business and have been issued an Employer Identification Number (EIN), open a bank account specifically for your business. Having a business bank account is essential for keeping your personal and business finances separate which can help you gain an accurate picture of your business’s cash flow and financial health.

Additionally, keeping your personal and business finances separate makes bookkeeping and tax preparation easier.

Many banks offer business checking and savings accounts. Business checking accounts typically do not have a limit on the number of transactions that can take place, and issue a debit card that can be used for making business purchases. However, these checking accounts do not accrue interest.

Business savings accounts typically earn interest over time but have a limited number of transactions that can occur each month. When you’re just starting out, look for a business bank account that does not have a minimum balance requirement so you are not penalized for having low funds as you work to build your business.

7. Determine if your business idea works well from home.

Ask yourself whether your business idea will work well from home. Some businesses simply aren’t suited to be based from home. If you want to run a dog boarding center but live in an apartment without a backyard, you might want to consider a dog walking business instead.

8. Set up an office.

If your business idea is well-suited for being run from home, it’s still important you have a designated workspace. While a home office might not be possible, consider setting aside a corner in your living room or putting a desk in your bedroom for a space that inspires you and creates the conditions for success.

Need a more professional space? If you conduct client-facing work requiring you to be on video calls, no one wants to see your rumpled sheets in the background. Check out local coworking spaces for memberships that earn you access to conference rooms, desk space, and more.

9. Get to work!

You’ve put in the hard work, but I’ve got bad news — it’s only going to get harder. But most entrepreneurs will agree that the payoff of being your own boss, making your own hours, and working on projects that you’re passionate about will pay dividends for the rest of your life.

What are the types of small businesses?

The types of small business structures are sole proprietorships, partnerships, limited liability companies (LLCs), and corporations.

• Sole Proprietorship — The simplest type of business structure is a sole proprietorship, which is also the easiest to start. As a sole proprietor, you are personally responsible for the business's liabilities and profits, and you have complete control over your business. If you are a solopreneur, you are automatically considered a sole proprietor.
• Partnership — A partnership is a business model involving two or more individuals who agree to share the business‘s profits and liabilities. Each partner contributes to the business and shares the risks and rewards. It’s essential to have a partnership agreement that defines each partner's roles and responsibilities to ensure clarity and prevent potential misunderstandings.
• Limited Liability Company (LLC) — An LLC, or limited liability company, is a common option for small businesses because it protects its owners by separating personal assets from the company's liabilities. To form an LLC, the business owner must file the required paperwork with the state.
• Corporation — A corporation is an independent legal entity distinct from its owners. It provides limited liability protection to its shareholders, who are not held personally accountable for the company's debts. Corporations have formal requirements and often raise capital by issuing stocks or shares.

Which business type is best?

The best business type is a limited liability company (LLC). Operating as an LLC means that your personal assets are separate from your business assets. If your business goes bankrupt, your personal holdings won’t be affected. That said, it’s also one of the costlier types, requiring a fee paid to the state.

The easiest business type to start is a sole proprietorship. The main downside is that there’s no differentiation between you and your business.

It's crucial to seek advice from legal or accounting professionals to determine the best business structure based on your unique needs and objectives. Each structure has advantages, legal requirements, tax implications, and flexibility considerations.

How do I create a business idea?

To create a business idea, determine your skill set, work preferences, startup budget, and available resources. It’s important to strike the right balance between what you can feasibly offer and what you can feasibly afford in the short and long term.

We recommend starting with your skill set so that you can easily determine the niche in which you can effectively compete. For instance, if you have ample experience as a writer, you might consider starting a freelance writing business. But if you know you’d prefer to work with clients face-to-face, you might choose to start a ghostwriting business instead. That’s why it’s so important to take your work preferences into account, as well.

After that, take a look at your budget and determine the type of business you can start based on the resources at your disposal. For instance, you might not be able to afford a physical office or location, so a location-based business will likely not be a good fit. In that case, starting an online business is your best option.

What resources or tools can I use to refine and validate my business ideas during the brainstorming process?

Online market research tools like Google Trends, Keyword Planner, and SEMrush can provide insights into market demand, competition, and keyword trends related to your business niche. Industry reports and market analyses from reputable sources such as IBISWorld, Gartner, Statista, and industry-specific publications can offer valuable data and trends to inform your decision-making. Ensure you know the industry risk before embarking on your small business venture.

→ Download Now: Market Research Kit [Free Download]

Additionally, joining entrepreneurial communities, forums, and social media groups can provide opportunities to seek feedback, network with like-minded people, and gain insights from experienced entrepreneurs. Finally, consider conducting surveys or interviews with potential customers to gather feedback and validate your business concept before investing significant time and resources.

What are some of the most successful small businesses?

Every small business has the potential to be successful and profitable, provided it’s backed by a strong product-market fit and a robust business plan . These two elements are essential. Maybe postnatal services are one of the most successful small businesses to launch, but if you live in an area with declining population or a large elderly population, then that small business idea won’t yield a high return on investment.

Think carefully about the market where you’re launching your business, and you’ll be more than likely to see lasting success.

What are the top growing small businesses?

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• Best overall
• Most affordable
• Best no medical exam
• Best for customer service
• Best for whole life conversions
• Best for seniors
• Best for foreign nationals
• Best for military personnel
• Best for low-income parents
• How we review term life insurance

Best Term Life Insurance of June 2024

Affiliate links for the products on this page are from partners that compensate us (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate insurance products to write unbiased product reviews.

If you're looking for a starter life insurance policy, term life insurance may be your most affordable option. While term life insurance lacks the benefits of cash value insurance and whole life insurance , it's an affordable way to protect your family in the event of your untimely death in your prime earning years. 

Compare Term Life Insurance Policies

Because term life insurance is temporary, the standards by which a good term life insurance policy is measured is different than a whole life policy. While we look at eligibility requirements and premium rates, we also looked at policies on conversions as well as companies that cover spec ifc groups of people, such as military personnel and low-income parents.

Here are our picks for the best term life insurance policies in 2024.

Best overall: Banner

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Affordable insurance rates for adults up to age 75, 85 for universal policies
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. No maximum coverage on some policies
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. High financial stability
• con icon Two crossed lines that form an 'X'. Low coverage amounts on universal policies
• con icon Two crossed lines that form an 'X'. Limited riders to customize coverage

Banner Life Insurance's OpTerm policy has affordable life insurance rates for all ages and approved health classifications. Unfortunately, shoppers with a history of severe health complications, including HIV, cancer, etc., do not qualify for Banner Life policies. Shoppers ages 20 to 75 years old may be eligible for coverage with no maximum and up to 40 years of coverage. You can also expect fast approval and may qualify for a medical exam waiver with the Banner Life OpTerm plan.

Read our Banner Life review here.

Most affordable: Protective

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Customizable term, whole, and universal life insurance plans
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Life insurance options for older adults
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. High customer satisfaction according to JD Power
• con icon Two crossed lines that form an 'X'. Basic terms expire at 65, and Protective Life may not offer whole or universal policies for older adults
• con icon Two crossed lines that form an 'X'. Does not offer policies for special groups

Protective Life Insurance's Class Choice Term plan has some of the most affordable rates for the best value in the life insurance market. The average life insurance cost for 35-year-old males and females (with a standard 20-year term length and a life insurance benefit of $1,000,000) is about $52 and $43 monthly, respectively.

At Protective, the same life insurance policy for a male applicant would cost $46.63 monthly. A policy for a female applicant quotes at $38.44 monthly. Both of these rates are below the industry average. So while you can find cheaper, you get the most out of your buck with Protective.

Protective's Classic Choice Term is excellent for its customizability and range of options. This plan offers $100,000 to $50 million in coverage, some of the highest life insurance benefits in the market. Additionally, you have several term options ranging from 10 to 40 years.

You may fancy Protective's a la carte of riders, including its child and disability riders. Protective also offers an income provider option endorsement, which allows you to decide how to allocate your death benefit among your beneficiaries.

Read our Protective Life review here.

Best no medical exam: Brighthouse

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Affordable rates with term and whole life options
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Available in all 50 states
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Strong company culture for knowledgeable and helpful insurance agents
• con icon Two crossed lines that form an 'X'. Limited plans that may not fit unique buyers' needs
• con icon Two crossed lines that form an 'X'. Does not offer unique plans for senior or other buyers

Brighthouse Financial's SimplySelect term offers best-in-class coverage even without undergoing a physical exam. The company also received an A rating from AM Best and a 739 rating with JD Power, according to its 2023 life insurance study.

This policy allows instant approval with some of the most affordable life insurance rates. You can get anywhere from $100,000 to $3 million in coverage with term lengths of 10, 20, or 30 years. However, higher policy limits may be subject to stricter underwriting. Also, its convertible and renewable rider options allow you to extend your coverage or convert your policy to a whole life insurance plan. See our guide to the best no medical exam insurance companies for more options to compare.

If your health isn't at its best, you might lean towards insurance requiring no medical exam , though your health status won't be ignored. No medical exam policies still ask health questions, and the company can look at past medical records. So these policies are more frequently issued with lower death benefits to young, healthy applicants. Of course, when you're working with a company like Brighthouse Financial, life insurance agents can run a preliminary application to see your chances of success. If you don't qualify for a no medical exam policy, Brighthouse Financial agents can quote other term or whole life options to fit your needs.

Best for customer service: State Farm

Bundling is standard, and agents often quote with multiple discounts.

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Best in JD Power customer service ratings
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Company offers a range of different insurance products to meet buyer needs
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Agents are knowledgeable about its products
• con icon Two crossed lines that form an 'X'. Life insurance products are conservative and limited
• con icon Two crossed lines that form an 'X'. Buyers may be subject to multi-year waiting periods before they qualify for full payouts on life insurance policies
• con icon Two crossed lines that form an 'X'. State Farm agents cannot offer alternative options if State Farm is unable to bind a life insurance policy

State Farm is one of the insurance industry's most prominent insurers offering auto, home, and other insurance. Bundling is standard, and agents often quote with multiple discounts. Its term, universal, and whole life insurance products are no exception.

• Life insurance products include term and permanent life
• Ranks highly for customer satisfaction

Reliability and trustworthiness are imperative for a long-standing insurance company, and it doesn't get any better than State Farm. Included among our guides on the best life insurance and the best cheap life insurance , State Farm's life insurance earned an A++ for financial stability with AMs Best. It also received 843 out of 1,000 in 2023 for overall customer satisfaction with JD Power, landing it in the no. 1 spot for customer service among its industry competitors.

State Farm sells property and casualty products, including home, renters, and auto insurance. So, you can pair your life insurance with another insurance product to reduce your premium.

Read our State Farm Life Insurance review here.

Best for whole life conversions: Pacific Life

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Offers universal and term life insurance products
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Easy online calculators to estimate your life insurance needs
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Available in all states except New York
• con icon Two crossed lines that form an 'X'. No whole life policies currently available meaning fewer guarantees on permanent policies
• con icon Two crossed lines that form an 'X'. Limited riders to address unique family situations, focused mostly on locking in benefits as you age

A conversion from term to whole life insurance  allows you to extend your coverage and take advantage of those coveted cash-value benefits. Pacific Elite Term offers some of the best options if you're planning on purchasing a whole, universal, or variable life insurance plan eventually. With this term life plan, you can convert after the first ten years of term coverage. This policy also adds cash credit to your permanent policy after conversion, which may reduce the overall cost of your premium.

Keep in mind a term to whole life conversion is not guaranteed. Your insurance agent can advise when to submit an application to convert. Once you do, underwriting will assess your health and risk at the time of application (not when you originally applied for your term policy). Insurance companies will also set rates based on your current application.

With competitive rates and availability in all 50 states, Pacific Life may be your pick of the litter for policy convertibility. Additionally, Pacific Life has outstanding customer satisfaction and financial strength scores, ranking sixth place with JD Power (above the the industry average) and A+ with AM Best. Pacific Life may also allow qualifying buyers to forgo a medical exam.

Read our Pacific Life Insurance review here.

Best for seniors: Prudential

Offers aggressive financial plans.

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Available in all 50 states (New York residents may have different plans)
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Buyers can withdraw money to pay for nursing home bills due to severe illness or disability
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Knowledgeable agents who can walk you through your options
• con icon Two crossed lines that form an 'X'. Financial returns are limited
• con icon Two crossed lines that form an 'X'. Limited policy options for seniors and other groups who might struggle to find life insurance

The aggressive financial plans offered by Prudential may appeal to many younger buyers and those with a stable income. However, those with lower income or buyers who aren't sure about the financial system may be more hesitant to engage with Prudential. Like many other industry giants, Prudential is working to change this perception.

For seniors, getting life insurance at an affordable rate can be challenging. However, Prudential's Term Essential is an excellent option for shoppers over 60 needing short-term coverage at a competitive price.

Prudential's Term Essential allows for higher age limits than many of its competitors. As a result, underwriters may overlook minor age-related conditions. Exclusions for terminal or costly illnesses like cancer, multiple sclerosis, and HIV may still apply. The plan provides coverage as little as $100,000 up to $1 million and term lengths of 10, 15, 20, or 30 years. Additionally, this policy offers a Living Needs Benefit rider, free of charge, with all of Prudential's term life policies. This rider gives you access to a portion of your death policy if you become terminally ill, a beneficial option for senior retirees.

Not all senior applicants will qualify for a life insurance policy with Prudential Term Essential. But options may be more flexible than it would be with competitors. See our guide to the best life insurance for seniors for more information.

Read our Prudential Life Insurance review .

Best for foreign nationals: Transamerica

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Wide range of life insurance products including term, universal, foreign nationals, and more
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Policies available for foreign nationals
• con icon Two crossed lines that form an 'X'. Can only be quoted and sold by licensed Transamerica life insurance agents
• con icon Two crossed lines that form an 'X'. Life insurance not available for certain high-risk clients

Life insurance can be an invaluable tool, but it may be hard to qualify for those who don't have U.S. citizenship. As one of the oldest and largest life insurance carriers, Transamerica accommodates foreign nationals within the U.S. to offer the best coverage options.

Transamerica Trendsetter Super is a term life policy providing some of the most competitive rates. If you're 18 to 80-years-old, you can get coverage of as little as $25,000 up to $2 million. Qualifying applicants may also waive the medical exam requirement. We recommend talking to a licensed insurance agent if you are still determining if you qualify.

Read our Transamerica Life Insurance review here.

Best for military personnel: USAA

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Affordable pricing starting with $12/month on some policies
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. May offer coverage to military members other companies won't cover
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Offers term and permanent life insurance options
• con icon Two crossed lines that form an 'X'. 2 year waiting period for full benefits on some policies
• con icon Two crossed lines that form an 'X'. May focus on death benefits only more than other companies
• con icon Two crossed lines that form an 'X'. All permanent policies are underwritten and serviced by other companies, not by USAA
• USAA offers life insurance for the military, veterans, and the public.

USAA is one of the nation's leading insurance providers, created with active military members and veterans in mind. With USAA, military members and veterans may appreciate the unique benefits of purchasing its Level Term V policy. This plan doesn't require a medical exam, but you may have to answer a health questionnaire online.

USAA's equivalent of a guaranteed insurability rider is its Life Event Option rider. For qualifying life events (like getting married or having a child), you can get up to $100,000 of coverage. While many insurance companies offer this add-on at an additional cost, USAA's Life Event Option rider is built into the policy without the extra fee. Also, if you're injured in the line of duty, USAA helps pay for your medical bills and even replaces your health coverage if you retire or leave the military.

The critical thing separating USAA from other life insurance companies is its options for active duty military members outside of SGLI (a group life policy tied to your service in the military), i.e., you lose it once you separate from the military). As a result, its death benefits may be lower compared to some competitors. But active duty military members, particularly if deployed, will not qualify for coverage at all with other life insurance providers.

Read our USAA Life Insurance review here.

Best for low-income parents: MassMutual 

A++ (Superior)

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Wide array of term and permanent life coverage options 
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Established life insurance carrier with a strong reputation
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Competitive insurance premiums for both permanent and term policies
• con icon Two crossed lines that form an 'X'. May not be available for seniors above age 65
• con icon Two crossed lines that form an 'X'. Policies must be purchased through an agent
• Life insurance provider offering term and permanent policies
• LifeBridge program for low-income parents and guardians
• High marks in customer satisfaction

For many families, getting life insurance isn't in the budget or may not be a financial priority. Fortunately, MassMutual created the LifeBridge program to assist low-income families with affordable coverage.

With MassMutual's LifeBridge program, qualifying parents and guardians get a free 10-year life insurance policy. In addition, this policy pays your designated beneficiary a $50,000 death benefit.

While MassMutual's term coverage through the LifeBridge program isn't as elaborate as some of the options on this list, this free plan will cover your dependent's educational expenses and sustain a good living if you pass away.

Read our MassMutual Life Insurance review here.

Why You Should Trust Us: How We Reviewed the Best Term Life Insurance

We choose our picks for the best term life products best on a company's customer satisfaction points, company offerings, financial stability ratings, and affordability.

• Customer satisfaction: We use JD Power's life insurance customer satisfaction survey to assess a company's customer service practices. Life insurance companies with ratings of more than 774 out of 1000 are considered above the industry standard.
• Company offerings: We compare each company's offerings. These include but are not limited to riders, policy flexibility, no medical exam options, and instant approvals.
• Financial stability ratings: We use AM Best, an industry-leading credit rating agency, to assess an insurance company's financial health. A company with an A++ to B+ is stable and likely to be around for years. On the other hand, anything lower than a B means a company is unstable or unable to meet its financial obligations.
• Affordability : According to our article on average life insurance rates , a reasonable monthly premium is on par with or below the average cost of life insurance, which is between $40 to $55 a month.

Check out the details of our insurance rating methodology to learn more.

What is Term Life Insurance?

Term life insurance offers temporary protection over a set amount of time, usually between 10-30 years, though you can find shorter and longer terms. Because a payout isn't guaranteed under these policies (in fact most term life insurance policies never pay out), premiums are cheaper than permanent life insurance policies. 

Term life insurance policies are great if you need coverage for a specific period in your life or you have a temporary financial obligation. For example, if you're paying off a mortgage or your child's college tuition, a term life policy will ease your loved ones financial burdens if you're no longer around to pay them off. 

Best Term Life Insurance FAQs

The best company for term life insurance will be the one that offers you the best coverage and claims experience at the best price. That said, we found that Banner Life Insurance's OpTerm policy had affordable yet comprehensive coverage for a wide range of age groups.

When selecting your death benefit amount, the rule of thumb is to select 10 times your annual income. But in general, you probably should get as much coverage as you can comfortably afford.

Yes, term life insurance will protect your family. In the unfortunate event you pass away during its active period, it will help your beneficiaries cover costs like funeral expenses and outstanding debts and can replace lost income. However, if you pass away after its expiration, your beneficiaries will not be paid.

Whole life insurance offers more comprehensive coverage and comes with cash-value benefits. By the time the policy is paid, permanent policies are frequently cheaper for the benefit you get. That said, affordable term life insurance is more immediately available.

If you outlive your term life insurance, your coverage will expire, and you or your beneficiaries won't receive a payout. The funds will simply go into the company's profits. However, if you purchased a return of premium rider, you may get your money back at the end of your policy.

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