Becoming an entrepreneur is a dream for a lot of us. While it’s always a challenge to get a new business up and running at a profit, there has never been more opportunity for upstart enterprises, than right now, in 2022. Startup’s like RideAlike have emerged as major players in their niche this very year.
The very first challenge is to determine what business venture to get into; one that has the best chance of success, and hopefully, the least possible amount of complication.
Every aspiring entrepreneur struggles to find a sustainable business idea. So, we’ve come up with a bunch for you to consider: Here are the 10 best business ideas you can start in 2022.
The 10 Best Business Ideas You Can Start in 2022
First things first: getting into a business is a risky proposition, at the best of times. You plan to leave the security of your 9-to-5 job. You are getting into a new, less predictable lifestyle. Plus, you will likely be investing your time and money.
There are also many benefits of having your own business. It will, of course, require a lot of hard work on your part, as well as support from family and key employees, and maybe even investors. The bottom line is that you are your own boss. Hopefully, the following examples and ideas provide you with some inspiration, so that you find your own personal best business idea.
1. Starting a Blog
Starting a blog is the least expensive business venture anyone can get into. You won’t need a lot of startup equipment. You won’t need to carry any inventory of products; the product is the words coming out of your mind. It will, of course, require a talent for writing, as well as a topic that engages and attracts readers visiting your site. The work, then, is twofold: 1) developing great written content with your excellent writing skills, and 2) building your audience.
Blogging is a great platform for content marketing – that is, writing about other peoples’ products and services. Bloggers who develop a reputation as an authority on a subject can earn a considerable income from their writing, as well as affiliate marketing commissions.
The beauty of blogging is that it is not confined to your local area. Your work can be seen and responded to around the world; as such, you can develop relationships and business globally with different international companies. Again, the startup costs are minimal. It will cost you less than $100 per year for your own domain name. Popular bloggers have incomes well into the six figures.
2. Web Development and Design
Web developers are in high demand. If you possess this skill set, you may have a lucrative business opportunity at your fingertips. Expertise in web development and design enables you to secure contracts with companies of all sizes, from small startups to large established companies. Put your coding skill to work, as your own business.
The demand is high, and so is the earning potential. Keep in mind, however, the competition is out there as well, as more and more graduates enter the industry from post-secondary institutions. You’ll need the skills, and tenacity to prosper in this lucrative but tough marketplace.
3. Online Coaching Classes
There is an endless list of subject areas that require online teaching or coaching classes. If you possess a particular skill and can share it in an effective manner, you may want to consider starting an online coaching business. You can set up a curriculum, materials, and schedule, where you can conduct classes online, either one-on-one or in a group setting.
One of the benefits of online coaching is that it is entirely home-based. As a result, don’t need to invest in an offsite location to conduct your classes.
With this type of business, you will also be establishing a community, which can be leveraged into additional business, in the form of sponsorships from suppliers in your field of expertise, who are always on the lookout for viable advertising and affiliate opportunities.
4. Graphics Design and Editing
Graphic design is an absolute necessity in our digitized world. If you possess this valuable skill, you can go into business, providing your know-how to many different types of companies and clients as a graphic designer. This area also involves videography and other editing works.
Graphic design is highly skilled work, requiring knowledge of all the technical stuff, along with a healthy amount of creative flair. There is plenty of money to be made from a good graphic design business. As well, with the internet, your services can be plied around the world, not just in your local area.
5. Amazon Reselling
Amazon reselling has come on like gangbusters as the online giant continues to expand its reach. You can resell interesting, innovative products in your local market, using the platform.
You will need to find potential hit products. Then, resell them online, with attractive pricing as the lure, or the products’ uniqueness or innovation – ride the wave of new trends.
It’s been shown that there is a lot of moneymaking potential through Amazon reselling; keep in mind, though, the competition is fierce, and you’ll have to work to reach the top and stay there.
6. Renting Your Car with RideAlike
One of the newest car-share platforms, focused on the Toronto area, is RideAlike. Car share is giving traditional car rental services a run for their money, with its innovative concept and user-friendly platforms. As a RideAlike member, you can provide your vehicle(s) for rent to your community. Rent out your car, SUV, minivan, or truck for a few hours, or a few days. If you have more than one vehicle on hand, you could have a whole fleet on RideAlike, and be your own miniature car rental service, right in your own community. It’s a real, viable money maker, using equipment and resources you already have on hand – your vehicles.
7. Portrait and Wedding Photography
There has never been a busier time for photography than right now – just think about all the selfies being taken out there, every minute of the day. The quality of photographic equipment, editing software, and accessories, continues to improve, even as prices come down. It could be a perfect business opportunity for a skilled, enthusiastic photographer, to fire up their own portrait and wedding pictures business.
This type of business could easily be initiated from a single room in your home, as your own studio.
Put your journalism and communication skills to work with a podcast. The demand for audio content has never been greater. People follow their favourite bloggers, vloggers, and podcasters faithfully. As a result, if your podcasts take hold, there are various ways to monetize them, with advertising and affiliate deals.
Podcasting is a good option for you if you already have an existing blog, and therefore a loyal customer pool. Use a trusted podcast hosting platform to host your podcast and make money from it. Skilled content creators can also take advantage of podcasting as an additional revenue source
9. Consulting Services
A viable way to go into business for yourself is to take advantage of your specific skill set, no matter what the subject matter. If you are an expert in a field, you can sell your knowledge in the form of consulting. A few common examples – computer or tech services, marketing, engineering of all types, industries of all types – you name it, if you know about a subject, preferably with some sort of designation, you can become a consultant. Your consultancy may focus on established businesses, or in assisting new startups, with your expertise.
10. Affiliate Marketing
Your existing website can be transformed into a money-making machine by adding affiliate marketing as well. A website that generates high traffic is very attractive to advertisers who want the same eyeballs on their product. Many companies would be happy to pay you to include their ads on your website. You get a portion of any sales generated from your pages, and the amounts can be impressive. The content of your website will likely be tied in some way to the advertiser’s product, so it’s a win-win all around. Your website visitors are interested in your content, and some will likely be interested in your advertisers’ stuff as well. You cash in from those affiliate ads.
No business is “easy” to start up. But there are so many great business opportunities out there today, that if you have an entrepreneurial dream, now would be a good time to chase it. Our list is just a slice of the many potential enterprises you have to consider. Yes, it will take hard work to launch, and you’ll need an ongoing plan for success. But it will be your plan, your dream, and your money when it all works out. Best of luck to you!