Female entrepreneurship is becoming a more common phenomenon as women focus on taking more leadership roles. As per American express, the US has approximately 13 million women-owned businesses in 2019, nearly 42% of all companies in the US.
As the world is rapidly moving towards digitalization, women look for lucrative business opportunities online. More women are focusing on how to consolidate debt into one payment, so they can save up extra money to start an online business.
However, with so many ideas, which one is the best? Here are some of the lucrative online business ideas for women entrepreneurs.
Lucrative Online Business Ideas for Women
With a plethora of options available, you can choose from either one depending on your skills, passion, education, etc. These are some small-scale businesses that women can easily manage:
Freelance Writing or Blogging
Writing for clients or starting your blog is the most feasible online business that women can opt for to start their online business.
It gives them freedom to work from anywhere, and doesn’t require many skills. If you have a flair for writing and can produce engaging and grammatically sound content, you can make a good income through freelance writing.
Women can start their blog on different topics or niches in which they have experience. They discuss parenting tips, teach financial literacy or any other niche.
Online Food or Catering
If you have exceptional cooking and baking capabilities, you can use it as an advantage to set up an online food or catering service.
You can offer mouth-watering dishes and bakery items to your online consumers on a small scale. However, you will have to follow your state’s requirements regarding food safety and get an inspection from them.
Tutoring and Teaching Online
With the evolution of AR and VR technology, classrooms are no longer filled with blackboards and chalks. Children are now using technology like Zoom to learn about new things.
If you have excellent teaching abilities and a strong grasp over a particular subject, you can choose to teach online. There is a wide range of online teaching platforms available where women can create a course and offer it to students.
App Development and Coding
Web design and app development is a highly lucrative industry offering numerous freelancing and online business opportunities for women. However, it requires a comprehensive understanding of coding and programming language.
If you have an IT background and know the nitty-gritty about app development, then it is the ideal online business to choose.
Drop-Shipping or Online Store
Amazon, eBay, and other platforms allow you to start your online store or provide drop-ship services. Women can also choose to create their own eCommerce store through Shopify.
Sourcing the right products is imperative as it will impact sales and the overall performance of your store. Crafts or other decoration items can also do wonders for you.
Many women love to click photos that are aesthetic and appealing. If you are one of them, you can go for an online photography business. All you need is a camera, a couple of accessories, and a good online portfolio to grab clients.
You can choose to cover weddings, parties, or other important events. In addition, if you can get an appealing click of a scenic view or another scenario, you can sell it online on various photography platforms.
Social Media Management
Businesses today are searching for services to help them with the social media management of their brand. It is another easy online business through which women can build a strong clientele.
Also, it is not too difficult as the responsibilities of the social media manager entail managing the company’s online posts, dealing with CRM, and responding to customers’ queries.
Additional Business Ideas
Besides these, women can also choose any of the ideas below to build a profitable online business in no time. Some of these business plans need proper skills or education. If you have the abilities, you can go for that particular business, or you can learn these skills online:
- Payroll and accounting services
- Data entry
- Stock trading
- Graphic or website designing
- Advisory regarding travel/property (depending on the expertise and knowledge)
- Virtual assistant
- Career counselor
- Interior designing
- Personal fitness coaching
- Social media influencer
The list can go on where we can add more and more services or ideas for women’s online businesses. Women deciding to start an online business need to consider a few aspects of the particular business they are choosing.
Factors to Consider before Choosing an Online Business
Before you set out and start your online business, it is vital to consider a few things. It will help you decide the type of business you can open and how much income you can generate through it over some time. Even if you think of switching your bank account, you should know how to switch banks to get the best result out of it.
Firstly, you need to decide if this will be an extra source of income or your sole earning. Once you decide that, you can look at the different businesses you can launch online. When choosing a business, you need to look at the following things:
- The initial investment and startup costs
- Future financing
- The amount of time you will spend on your business (full-time or part-time)
- Any new skills you need to learn for starting the new business.
One of the best things about having a small online business is the flexibility and no accountability. You will be your own boss with no one to answer or report. In addition, the time you invest in your money will eventually result in significant profit in the future.
With so many online business ideas for women, we hope you can find the ideal option depending on your passion and skills. Women starting online businesses need to have sufficient funds to back their businesses.
Also, if they can bring down their debt payments, it will give their new online initiative some breathing space. So, before you start your business, you need to plan about how to consolidate debt into one payment to reduce the debt burden.
With the reduced burden of interest payments on credit card debt and extra cash in your hand, you can ensure your business thrives and reaches the pinnacle of success.
Author – Lyle Solomon
Lyle Solomon has considerable litigation experience as well as substantial hands-on knowledge and expertise in legal analysis and writing. Since 2003, he has been a member of the State Bar of California. In 1998, he graduated from the University of the Pacific’s McGeorge School of Law in Sacramento, California, and now serves as a principal attorney for the Oak View Law Group in California. He has contributed to publications such as Entrepreneur, All Business, US Chamber, Finance Magnates, Next Avenue, and many more.