Do you dream of starting your own company? E-commerce platforms like WooCommerce (my favorite) help make this possible. Launching an online business helps you avoid the costs of brick-and-mortar stores. The biggest PLUS, you can sell your products online without ever having to leave your home (the ultimate best online business to start).

Why you should start an online business

There are a lot of online businesses. According to Statista, the global online economy is expected to grow from $2.1 trillion in 2018 to $5.9 trillion by 2027. That’s a whopping 36% increase!

The Internet is a powerful tool for marketing your business. You can reach a wide audience with minimal effort, and you can keep track of your progress through online analytics tools.

Online businesses are versatile and adaptable. They can be run from anywhere in the world, and they don’t require as much startup capital as traditional businesses do.

There are many opportunities for online business growth in 2023. More than ever, people are turning to the Internet for their purchases. There is plenty of room for stores dedicated to niche interests and superior customer service.

Plus, when you start your own online business you can enjoy:

• Flexible work hours: Running an online business lets you work from home – or wherever you’d like! – and set your own hours. You can also control your income and schedule.
• Higher visibility and scalability: With an online store, you’re rarely limited by your location. You can sell your products and services online, or through an app.
• Low overhead costs: Since your business is online, you won’t have to rent a physical storefront, office space, or warehouse.

Here are the best online businesses to start

Not all e-commerce businesses develop, stock, and sell their own unique products. Many e-commerce businesses offer services, such as web design, SEO, and social media marketing.

I’ve compiled the following types of best online businesses you can start in 2023. Find the style of business that works for you and shape your offering to fit your passions and audience.

1. Drop shipping is the perfect online business model for anyone who wants to start a small business with big potential. With drop shipping, you don’t need any expensive equipment or a large inventory of products. All you need is an online store, some good marketing skills, and a few dropshipping products. Dropshipping can be used to sell anything from clothes and accessories to home decor and pet care products. You can also start an online store as a side hustle to make some extra money or as your full-time career. You can manage your new store with the WooCommerce Dropshipping extension. Once you publish products, you can use this tool to send order notifications to your supplier. In the WooCommerce Dropshipping dashboard, you can see your total number of orders and project profits. You can also manage your inventory, packing slips, invoices, and affiliate products. Using this extension, you’ll have everything you need to start your dropshipping business and run it successfully.
2. Print-on-demand is similar to drop shipping. A print-on-demand business involves working with a third-party company to develop products. Essentially, you’ll send the supplier your artwork and ask them to place it on brand-free, white-labeled products. Once you find a fulfillment partner and start sending them artwork then you can build an online store with WordPress and WooCommerce. CustomCat and ScalablePress are suppliers that seamlessly integrate with WooCommerce, enabling you to sync inventory and orders. This is a great way to make some extra cash and build your own business from the ground up. Plus, it’s an industry that’s only going to continue to grow in popularity.
3. Affiliate marketing is one of the quickest ways to start earning a passive income. All you need is a website and a few clicks of your mouse, and you can start promoting products from some of the biggest brands in the world. In affiliate marketing, you share a business’s products on your website. When your readers make purchases through your links, you can earn a portion of the sales.
4. Virtual teaching and consulting services are in high demand, with almost 60 million people in the US alone who use online courses to supplement their education. This trend is only going to grow, making online businesses ideal for those looking to make a start in the new year. You have the freedom to develop a virtual course that students can purchase and complete on their own time. Write course materials, film education videos, and create interactive quizzes that test your students’ knowledge.
5. Subscription boxes allow you to repackage products in a way that’s more helpful to customers and creates additional revenue. Instead of making one-time purchases, customers will continue to make recurring orders for weeks, months, or even years. Subscription businesses are highly competitive, so to succeed, you’ll need to stick to a niche audience and focus on solving their problems or meeting their unique wants. The WooCommerce Subscriptions extension will allow customers to choose a schedule that suits their needs and you can set up renewal notifications and efficiently manage subscriptions and operations.

Launch your online business