Most Profitable Online Business In 2020

SaaS

SaaS stands for software as a service. SaaS, as an online business, seems saturated and run by the big guys. However, 2020 is predicted to be the year of the “Post SaaS era.” This Era is ushering in unprecedented opportunities for a lot of small SaaS startups.

SaaS is an easy business to start and has low operational costs. Success in this industry lies in occupying and dominating a particular niche. This year alone, the value projections for the SaaS market sits at seventy-six billion dollars. A lot of companies prefer cloud-hosted apps and SaaS for communication and organization. The secret to success is to start small, focus on a niche, and keep your overhead costs low.

Becoming A Freelance Writer

Becoming a freelance writer has tremendous benefits and is a great way to earn additional income. You do not have to be tech-savvy for you to cash out as a freelance writer. To get started, you will need to build your portfolio and invest in tools that will increase the quality of your writing.

You can then start reaching out to paper writing services review and websites like Online Writers Rating and offer them content for free. This way, you get to build your resume and attract clients that will pay for your expertise.

Becoming A Translator

If you understand more than one language, this is the perfect job for you. There is always a demand for people working in this profession because even though there are a lot of translation apps, humans are able to capture the nuances and meaning of words and produce accurate and precise translations.

It’s quite easy to get started in this business. You will, however, need to take some courses and get certifications. Once these are obtained, there are a lot of translation agencies out there willing to work remotely with certified translators. According to the Bureau of Labor Statistics, Occupational Outlook job opportunities for translates are projected to increase by eighteen percent up until 2028.

Becoming A Transcriber

This is an opportunity that has been available for a long time. There has been a sudden rise in the number of crowdsourcing sites willing to transcribe for a low price. This is excellent news because it means there is more opportunity for people who want to work from home. There are websites that are willing to work with people with little or no experience.

Like many of the work at home jobs, the pay is based on productivity and output. An advantage of this business is not just the ability to work from anywhere, but also getting to learn a lot about different topics.

Teach English Online

There are a lot of companies that are willing to hire people to teach English online to individuals in foreign countries. Most of these sites require that you have a college degree and proficiency in the English language; however, there are a few companies that do not require a university degree. 

Companies like Vipkid, DaDa, and so on offer up to $22 an hour for you to be an English Tutor. It is quite an easy job and an excellent way to make money online.

Become A College Prep Tutor

It is almost impossible to take the exams required to get into college without accurate preparation. A lot of people are aware of this fact; hence, they will pay premium fees to anyone who will tutor them adequately for them to pass tests. A tutor is someone who teaches and prepares students for exams outside of the classroom environment.

This business is, however, for only people that have excellent writing, reading, and maths skills. Depending on the country you are in and the set of exams required to enter college, you will have to take certification tests to qualify to become a tutor.

Websites Flipping

Website flipping is basically like the real estate of the internet. Here you buy or create a website from scratch, grow it to the point where it generates income, and then sell it to someone else for a profit.

There are sites like Empire Flippers that give a marketplace where people can buy and sell websites. If you choose to embark on this online business in 2020, to make a quick profit, you should choose a niche market for your website to focus on. This way, you don’t have a lot of other websites to compete with and can easily grow the site to a point where it’s generating revenue.

Offer Training Courses Online

People now realize that to be successful; you need more than the formal education obtained from a colleague. Research shows that by 2025, the relearning industry will be worth over $325 billion, making it a very lucrative business to start if you have something to offer. Companies have found out that a lot of online training programs lead to higher revenues per employee to the tune of over two-hundred and eighteen percent.

Therefore, you can create a successful online business by offering training courses that others will find valuable enough to pay money for.

Affiliate Marketing

 Earning money through advertising other people’s service/product is not a bad idea, and associate marketing allows you to do just that. A lot of companies leverage the power of affiliate marketing to make sales and increase their revenue. Companies are always on the lookout for people who will effectively market their products for compensation in return. Companies like Amazon, eBay, ShareASale have excellent affiliate programs that you can be a part of. 

E-commerce Retailer

We cannot end this list without mentioning e-commerce retailing. This is one of the most profitable online businesses you can embark on, that has a lot of earning potential. The industry grew by a whopping 14.9% between 2018, and 2019 with projections for even higher growth this year.

There are a lot of websites, such as Shopify, BigCommerce and so on, where you can easily start selling products and get a profit. You can sell anything on the internet, and one of its advantages is that it gives you access to consumers anywhere in the world.

Conclusion

We have all witnessed how the internet has made a lot of people overnight millionaires. A good example is the eight-year-old YouTube star Ryan Guan who made a whooping thirty-five million dollars in 2019 alone and is projected to earn even more money in 2020. Most online businesses have unlimited earning potential, do not require so much capital, and offer you the ability to work from anywhere in the world.