In this era of digitization, the only thing that seems to be booming is the online business, so have you started one yet? If not, then why haven’t you? Well, if you don’t know what to start and want an idea, then you have come to the right place! Here you will find the best online business ideas in 2020
As you know, online business platforms are the future of India, and so are all the online money making business strategies.
The evolution of technology and knowledge has impacted our lives tremendously from quite a few years. This has led to the exploration of new online money making business ideas.
Table of Content
- 28 Best Online Business Ideas in India 2020
- How to Start an Online Business in India?
- How to Choose a Niche for your Online Business
- Excellent Online Business ideas in 2020
- 1) Start an e-Commerce Store
- 2) Funny Videos
- 3) Freelance Blogging
- 4) Become an Affiliate
- 5) Online Reality Show
- 6) Data Analyst Consultant
- 7) YouTuber
- 8) Web Developer
- 9) Music School
- 10) Training and Consultation
- 11) Party/Event Organizer
- 12) Domain and Website Flipping
- 13) Curating the News
- 14) Language Translation
- 15) Outsourcing Business
- 16) Sell Your Photographs
- 17) Financial Advisory
- 18) SEO Specialist
- 19) Publish an E-Book
- 20) Online Tutoring or Teaching
- 21) Forex Trading
- 22) Online Transcriptionist
- 23) App Development
- 24) Online Tech Support
- 25) Google Adsense
- 26) Subscription-Based Premium Content
- 27) Sell Financial Products
- 28) Virtual Assistant
28 Best Online Business Ideas in India 2020
Do you want to make money while relaxing at home, or when you are on vacation? Or have you ever thought that what if you are getting paid for the time you are asleep? To make this happen, you need to think of a business strategy and commence an online business today.
Online business is an excellent way of earning hassle-free money. You can pave your way to start a small online business to ascertain the source of passive income or switch your full-time job career into one of the online business ideas that we will brief you about in this article. Entering and establishing themselves into the online business money-making process is ideal for the people who are tired of doing their 9-5 jobs for their living.
You might have heard on the TV or read in the newspapers that so many people are becoming immensely rich just by starting up an online business. So, why not you? Certain crucial aspects are required, including your commitment, and of course, the business strategy.
How to Start an Online Business in India?
Before we enlighten you about all the online business ideas for 2020, let’s get to brief you about how to start an online business in India? Listed below are the steps through which you can quickly start up an online business-
- Identify your core strengths and weave your business idea around it
- Evaluate the need of your target audience based on which chose the product or service you are going to deal in
- Provide a feasible solution to fulfill the entire idea
- Build and design a user-friendly website
- Making a captivating copy or the guidelines that draw the attention of potential buyers/customers
- Ensuring to bring more traffic to your website by leveraging SM platforms and popular search engines
- Taking regular customer surveys by following up with them and taking their feedback on an online survey form.
- Boosting up your income through back-end sales and up-selling
By following these small set of principals, you can kick start any online venture and make it successful.
How to Choose a Niche for your Online Business
It is imperative to consider the following aspects before you chose the nature of your business:
1) Knowledge: Always choose a niche that you have proper knowledge about and are also passionate about. Starting up a business and having a paramount knowledge in that particular business field, is an always better idea than getting into the business without having proper knowledge in that particular field.
2) Traffic: The traffic is one of the most important sources for any business. More is the traffic, more chances of boosting your profits. You can check social media platforms like Facebook, or Instagram to ensure how many people are following or using the product or service related to your niche.
3) Affiliates: More the products available, more steady will be the market and vice-versa. Always ensure to search for appropriate affiliate marketing sites such as Amazon Associates, Clickbank, Flipkart Affiliate, vCommission, etc., for products related to your business niche.
4) Keyword Search: Always pay heed to use a keyword resource such as Google Ads, or Answer The Public. This will help you find well-known search terms that a bunch of people are already searching for. You can prefer the ones which are in limelight.
5) Look Offline: Apart from online platforms, do not forget to check local magazines stand or bookstores. If publications are covering the niche of your business, that means there is huge potential in the market.
Excellent Online Business ideas in 2020
We have meticulously scrutinized every business idea before jotting down in the list below. We have surveyed thousands of people who are already doing online businesses based on which we have painstakingly reviewed there responses.
Some of the businesses that we have mentioned below may vary depending upon region to region. Still, one common thing is that every business can be augmented, be it any place in the world.
Below are the best 30 online business ideas which would cater to all your needs and requirements:
1) Start an e-Commerce Store
The E-commerce industry is one of the rapidly growing industries not only in India but all over the world. Many customers have started purchasing online, which has led to an increase in many e-commerce stores such as Amazon, Flipkart, Jabong, SnapDeal, and many others.
Some of the best platforms from which you can design and build your very own e-commerce store are Shopify, Woocommerce, 3dcart, Magento, etc. These platforms offer a free domain. You can even make use of various other tools which facilitate to market your product or service and create an eye-catchy e-commerce store.
By creating your e-commerce store, you even become eligible to build your own brand and start promoting it. If your product quality is superior and your services are excellent, your brand will gain recognition, and you can start selling your products to multiple online e-commerce platforms.
2) Funny Videos
If you have a good sense of humor and known to be an entertainment material amongst your acquainted people, you should utilize your talent. Get your hands on in this glamorous and laughter industry.
As you might be aware of certain stand up comedians like Kapil Sharma and Amit Tondon, who have become a renowned celebrity. You can become a social media star by uploading your funny and entertaining videos which cheer up other people’s mood.
Once you become a renowned personality, you can make money by selling the license to startups for using your video.
You can also establish a comedy club online by which you can help other stand up comedians showing their talent to the people.
3) Freelance Blogging
You can earn a considerable amount by becoming a full-time blogger. It has benefited not only the youths but also numerous people under any age groups, who want to be their own boss by becoming a freelancer.
Content is king, and it will remain the king. With the widespread use of technology, an increasing number of websites and blogs/articles, the scope of blogging has become extensive. You cannot imagine any website, source of information, social media platform without the content. Hence, it is a booming industry that has provided a perfect opportunity to people who have a good command over the English language and jump into this industry.
The best part is the amount you earn is directly proportional to the time you work. As usually, you get paid as per the number of words you write each day. The more words you write, the more you earn.
Furthermore, it enhances your knowledge, boosts confidence, and widen up your mind by letting you share your experiences online.
4) Become an Affiliate
If you know the hacks of affiliate marketing, it is one of the businesses which can help you earn huge money. You can become an affiliate if you know you sell other people’s products. More products you are going to sell, more commission you will earn.
There are ample affiliate marketing companies that you can join and promote products such as Amazon, Flipkart, Snapdeal, Commission Junction, eBay, and many others.
The future of an affiliate is very bright, but only if you can prove your impeccable skills and expertise in this stream of business. Remember, there are thousands of affiliates in the market. So, you need to be an expert.
You can get several big brands and products if you become a proficient affiliate. As big brands are always in search of someone who can promote their products well and can increase their sales.
5) Online Reality Show
Gone are those days when people only used to watch reality shows online. Online reality shows are all over the internet and especially on social media websites.
If you have creative content related to any niche, you can make and upload a video for the general public. You can upload it on various platforms, including YouTube, Facebook, Instagram, and Snapchat.
You can also ask your online friends and acquaintances to share your video to make it popular. Once you start gaining recognition from the public and you can draw the attention of more users, you can earn money, even for the time you take a nap.
6) Data Analyst Consultant
Do you have a strong command over mathematics, finance, or economics? Only if you have, you can think about becoming one.
Data Analyst Consultant is needed by many big corporates and companies who can analyze and manage their tons of data for them. So, you will always be in demand if you can become a successful Data Analyst and be able to make sufficient money to lead an extravagant lifestyle.
Fundamentally, you need to help the companies to decode large chunks of data to reveal crucial information about customer’s demands, preferences, spending habits, buyer behavior, geographical preferences, and much more. Data analysts incorporate these aspects to derive a coherent business strategy.
YouTubers are also vloggers, and establishing a YouTube channel is an excellent idea if you have some excellent quality subjects that you have depicted in the videos. Or, you can simply post videos on YouTube in the beginning without creating your channel on YouTube.
You might be aware of some millionaires who have earned crores of rupees just from starting up a YouTube channel and publishing their videos such as Bhuvan Bam, Amit Bhadana, Gaurav Choudhary, and many others.
It does not matter what particular niche you are creating your video on, and the only crucial thing is your content should be exclusive/unique. As numerous videos are posted on YouTube every day, but only a few become famous and gain recognition from the mass audience. You can make plentiful money by publishing the videos that keep the customer’s eyes glued to the screen.
More For You: Top 10 YouTubers in India & their Earnings
8) Web Developer
The demand for Web Developers are growing with time, as hundreds of websites are being built every day. You can become a web developer if you have profound knowledge about designing a website from scratch. Not only the website designing will do, but you also need to have expertise in coding, which requires considerable efforts.
You can earn ample money as large companies are ready to pay a considerable amount to web developers who are competent in designing their website impeccably.
9) Music School
If you are passionate not only for listening to music but also to teach music, you can open and establish a Music School online. You can start by posting a few videos on Facebook and YouTube. Then, as per the response, you would get from the viewers, you can create your channel, along with the discussion forum.
If you can deliver excellent sessions to the public, you can do good business out of the Music School startup.
10) Training and Consultation
Are you good at persuading people? If yes, and you have an expertise in a particular field for which you can provide online consultancy and training services to the people, you can grab a substantial portion of the amount for the sessions you will conduct online.
You can choose any niche and start providing your services, be it Vaastu, Finance Advice, Accounting, Job Placement, Body Building, Health and Fitness, Coding, Gadget Repairing, Cooking, Certificate Courses, or any other. You can also start consultation services on improving personal relations with their family members or loved ones.
If your consultation is proving out to be effective, you can fetch the right amount of money into your pocket.
11) Party/Event Organizer
You can become a kid’s party organizer or an organizer for the youth’s parties. Also, you can start planning special occasions for married couples. If you are good at management and finance, you can become a successful party organizer.
An event organizer is a very broad concept as you can start organizing weddings, anniversaries, music festivals, concerts, or any other event.
One of the most famous event organizer companies in India is Wizcraft, to name a few more include Percept, Pegasus, Tafcon, WOW events, 70 EMG, Encompass events, etc.
12) Domain and Website Flipping
You can enter into this business of domain or website flipping. You can buy the websites or domain at a lower price and sell them at a higher price.
You can buy such quality domains that are in high demand currently and in the future. Once you purchase them, you can list these domains in marketplaces at a higher price. Numerous reputed domain marketplaces serve as a platform for domain trading Flippa Marketplace, Sedo Marketplace, GoDaddy Auction, Efty Website, NameCheap Marketplace, BrandBucket Website, etc.
To get yourself well-versed with the business of website flipping, you can buy a basic website at a very reasonable price. Once you purchased it, work on it for 2 to 3 months, earnestly. Then, if you work according to the need and preference of the majority audience and provide your website with high-quality content, you can sell your website for a double or triple price.
13) Curating the News
You can curate the news from different sources of media such as being highly alert of the internet, or by watching the story of other channels. As you know, everyone has a different style of presenting the news. You can adopt a unique and exquisite approach to curate the news. This will captivate and help you to draw the attention to more number of readers as they might feel content after looking at the opinions of every channel and political parties in one place.
Once you can allure more readers or viewers, you can build your website and the furthermore, the app.
You have a couple of sources that can facilitate you to curate impeccable news such as government official documents and records, publications or broadcasts, and people involved with a news event, witnesses of the crime scenes, or the victim itself, etc.
14) Language Translation
If you have a robust command over other languages apart from English, you can opt for this profession as this can enable you to earn huge returns.
Several online platforms that can give you ample assignments for translating languages can help you provide an opportunity to excel in this field. Some of the online platforms such as Upwork, Fiverr, and many others have ample work for language translation.
The payout may depend upon the language you have expertise in. For instance, you might be paid very well if you know the Chinese language, and you are competent to translate it.
This is one of the most lucrative businesses as you can directly approach renowned bloggers or website owners who are looking to translate their blog or website into another language. Trust us! You will be paid immensely with your linguistic talents.
15) Outsourcing Business
Want to make ample money? You can make huge earning by outsourcing business if you have the potential to establish yourself as a reputed brand or authority. It is one of the best online business ideas you can use to start your business.
Some numerous big brands and companies can pay a large amount to the concerned authority if they get their work as per their quality standards. You need to toe up with these companies and the relevant authorities who can carry out their tasks.
Freelancers’ are readily available for all business streams, whom you can outsource the company’s tasks and assign the freelancers the deadline before which they need to deliver the work to you. This way, you can make ample profits by getting the job from the companies and allotting it to the freelancers or any other authority.
Some renowned platforms through which you can outsource business hassle-free are UpWork, Freelancer.com, Elance, etc.
16) Sell Your Photographs
If you haven’t explored your hidden talent, it’s high time now. This is an opportunity which you must opt for if you are an excellent photographer. It won’t matter if you were doing it professionally or just as a hobby. The only thing that matters is your talent and the quality of pictures you click. You can utilize your skills and talent to earn this business.
Social media plays a vital role in today’s life for most of the people, due to which the photographs have become one of the most valuable aspects of our lives. The reason is not limited to social media, and many big companies want it for promotions, banners, ads, etc.
You can also look for various sites that demand stock images. To start with these stock images, you can provide those websites with some stock images for free. However, as time passes by, and you can establish your name in this profession as a renowned provider of stock images, you can start charging for those stock images.
17) Financial Advisory
Mostly, all entrepreneurs and business people need a financial consultant, whether the question is how to set your financial goals, where to invest, how to invest in getting the maximum ROI, or how to manage your investments to save tax.
This information cannot be searched by Google or any other site as the consultation can only be provided once the advisor is familiar with the personalized plan of the concerned person. This brings the need of a financial advisor for the people who are seeking for beneficial advice to manage their funds or income in the best possible manner.
You can create your own website and start promoting it online and offline. You can even get in touch with corporates and companies. Once you can establish your name in this industry, the sky is the limit.
18) SEO Specialist
SEO has become an utmost important area which is needed by all websites, or blogs to be synced with. SEO optimization is vital to accommodate your websites or blogs on popular search engines like Google.
Being an expert, You will be held responsible for analyzing, review, and implement websites that display into the search results once they are SEO optimized. If you have a strong command and comprehensive knowledge of SEO techniques, you can make good profits by optimizing the websites.
You can also offer SEO consultation services to the big companies and entrepreneurs who want to ensure their name to display at the top. You can charge hefty fees for this work.
19) Publish an E-Book
You can use your digital marketing skills to set up this business and expanding it. It will be a big bonus for you if you can create your digital product and able to draw the attention of a large number of users.
You can publish your book and sell it on renowned e-commerce sites such as Amazon and Flipkart. It will be better if you publish a linguistic book. To attract more potential clients, you can create an engaging video that entices the customers to see what’s the book is about and enforce them to buy it.
20) Online Tutoring or Teaching
If you are stuck into your 8 hours full-time teaching job and want to start your own business in the same field, better establish yourself as a freelance tutor or teacher. You are also eligible for this job opportunity, even if you do not have any teaching experience or a teaching degree.
You need to have been skilled in the particular subject for which you will be conducting online coaching sessions. The other things that are required are your laptop and a stable internet connection.
Numerous websites provide a shining opportunity to freelance tutors who take sessions online, including TutorIndia, TutorVista, Aim4A, Transtutors, etc.
21) Forex Trading
You can count in millions if you hit this business with the right strategy, at the right place, and of course, at the right time. One advice is that never get your hands on with this business if you do not have a profound understanding of the entire market. You can create your website for providing forex services and get it SEO optimized to see an efficient response.
Forex traders buy the foreign currency at a cut to cut prices from the market. As the market keeps fluctuating, traders sell it off at the time when the cost of the currency increases. You will also be entitled to carry out trades and maintain the corporate accounts once after you review orders meticulously.
This business also requires considerable investment and risk. Hence, it is always advisable to jump off into the pool of forex trading with the small amount before you become a confidant and proficient in this stream.
To know about the insights of the market and getting informed with crucial tips is significant if you are a beginner in this business. Several websites will help you to get information about daily bustle in the market, such as Forex Crunch, ForexLive, DailyFX, FxStreet, etc.
22) Online Transcriptionist
A transcriptionist converts audio files into texts, and with the increase in the customer handling departments, the demand for transcriptionist has been increased tremendously.
If you have an impeccable typing speed and have a good command over the same language, in which you are listening to the audio files. You must be patient and an excellent listener to excel in this profession.
Now, the potential income in this profession, it entirely depends upon the type and quality of work you deliver, the time-frame within which the work is delivered, and the company you are working for.
There are several websites such as transcribeme, Rev, and many others that facilitate you transcribing audio to text effortlessly. All they do is charge a nominal amount to transcribe audio, which may also depend upon the length of the audio as they charge on a per-minute basis.
23) App Development
No wonder, one cannot imagine a mobile phone without installing any apps these days. This has become one of the most prominent businesses due to its broad scope and the increasing popularity of mobile phones.
The only thing you need to ensure before you get into the app-building business that you have a distinctive idea that will help your app gain popularity and boost the number of downloads.
You are not also supposed to know coding to build a new app. Once you get into this vast ocean of business and you become experienced, you can also collaborate with renowned software developers who have already established themselves as big app creators.
24) Online Tech Support
You will earn handsomely becoming online tech support if you are a tech-savvy and IT expert. You can create your tech support services for end-users who end up facing some IT related issues from mobile phones/laptops, networking security threats.
You can easily open your tech support customer service without the need to invest hefty money and time in hiring other officials as tech support agents. Setting up an online tech support team would enable us to access the full range of IT support services.
25) Google Adsense
Google Adsense is one of the most lucrative ways of earning fast and reliable money if you have recognized the site or blog. If you publish high-quality content consistently, experiment with link and box colors, enable placement targetting, set up custom channels, and bump conversion with an extensive range of ads, you can easily make money from Google Adsense who wishes to display an add featured on your website.
You can display even the highest paying ads on your site for which you get paid. You need to follow a simple process. To start with, you need to make your space available on your website by pasting an ad code. The ad will appear at the same place where you have pasted the code. Depending upon the popularity and reputation of your site, advertisers bid in a real-time auction to show in their ad spaces. Whoever bid the highest amount will be allowed to display their ad on your site.
26) Subscription-Based Premium Content
You can sell reports for the research conducted on financial products and e-books online. You need to ensure that the content you have created is after meticulous research, which would cater to the customer’s or readers’ needs.
It is one of the online businesses which has excellent potential to earn massive if you have provided detailed insights about the content created. You can fetch a considerable number of customers who would prefer your premium content over the free one.
27) Sell Financial Products
There is a massive range of selling products related to insurance, home loans, Mutual funds, etc. The best way to increase customer engagement on your site and increase the traffic is to create a product comparison website that would help them to choose the best after getting them aware of all the available options.
There is numerous financial products type which you can make a comparison table in your website be it health insurance, car insurance, life insurance, investment options, credit cards, home loan, personal loan, educational loan, Demat and trading account. This will help the customers to make an explicit decision as now they have considered all the options and then decided what to opt for.
28) Virtual Assistant
You can earn stupendously from the virtual assistant job. It is considered to be one of the best business ideas for women who do not want to present physically to assist their clients.
Becoming a virtual assistant is not that difficult as you require to have adequate communication skills to handle your clients and manage your business as per your administrator’s instructions. Several websites that serve as a great platform not only for the people who want to get their hands on with the virtual assistant job but also serve as a platform to connect your business with a community of freelancers. To name a few- PeoplePerHour, Fiverr, Elance are some of the websites that help all the companies succeed.
Recommended: 8 Best Virtual Assistant Companies in India
Now, you know the ways of how to become your own boss and earn immensely.
It is not that you cannot choose any other business idea that we have not mentioned in this list. However, opting for lucrative online business ideas that are most popular are mentioned in this article are feasible for a mass audience as per the research conducted by our team. These are some of the best online business ideas in 2020 that will give you clarity about how to start earning money.
Having a go through the list mentioned above is not enough; you need to execute one of the ideas that you liked the most and work accordingly.