19. Online Retail
Online retail has never been more available or profitable to entrepreneurs with little to no startup cash. Shopify will straight up give you a store and a mind-bogglingly massive product list to sell for a small fee every month, all you have to do is bring the traffic (through blogging or buying the traffic). People are making six figures and becoming millionaires off of it. Just Google Shopify success stories and read about how much money some of these people are making with almost no initial startup costs. Online retail is a massive industry with an estimated amount of $36.8 billion in 2013 as stated by Forrester Research. Most of the purchases involve people who are inclined towards the use of technological devices. This number was expected to increase as more people become dependent on the use of digital devices.
It has become a norm for people to use technology for their daily activities. Many people are using the internet, and in 2015, 60% of the online traffic came from mobile devices. This includes those using the desktops. What makes this business attractive is that there are more than 3 billion internet users every day. This means that when you start online retail, you can expose your products to a wider market. It’s a low-cost business that requires a customized WordPress e-commerce website. This is estimated at $5,000 and includes PayPal and Google Adword software. The marketing and promotional initiatives are a crucial part of it. The business needs to be exposed to the appropriate audience. You can start with online social networks such as Facebook, Twitter, and LinkedIn. These will cost you next to nothing and you can reach out to a good number of people.