To become financially independent, you have to launch several businesses and ensure their profitability. It is therefore important to choose businesses that are profitable and timeless. Discover in this article 12 profitable business ideas to help you start-up and succeed.
Profitable business: motivation and involvement are decisive
You may currently want to start a business or start your own business. Maybe you don’t know exactly where to start. So I share with you through this article, several profitable business ideas. These business ideas have indeed already been tested. This, therefore, means that these are businesses that are carried out by several entrepreneurs that I know and that each generates more than a million euros per year.
However, not everyone will have the same result as these entrepreneurs because there are several factors to consider. Indeed, your results will depend on your involvement and your motivation. However, if you apply these business models correctly, you can generate over one hundred thousand euros per year. To achieve this, you must then use the right methods and put them into practice in the correct way. What are profitable business ideas in 2020?
12 Profitable Businesses in 2021
A few profitable business ideas can make you profitable and successful in the business world.
1. Sell information products
The first business idea is to sell information products. In this type of business, it should be noted that those who earn the most money are those who offer their own products. How does this type of business work? For example, suppose you are a salsa teacher in your everyday life. You can therefore accommodate between 30 and 40 people to follow your course every hour.
Suppose each person pays you ten dollars. As shown schematically, this business model is limited. This is to say that you will therefore not be able to accommodate two hundred or three hundred students in your classroom. However, this limit will be exceeded if you offer the same course online. The fact that you offer this same course online is of less interest than if you offered physical courses.
This nevertheless has the advantage of mobilizing an impressive number of students (1000, 2000, 3000, and more). For this type of online business, there is no limit. Indeed, as soon as you offer content that is dematerialized, you can reproduce it endlessly. There are also several sectors in which you can get started.
I met a German entrepreneur who teaches yoga classes online. This business generates more than one million euros each year. Likewise, a teacher who gives kizomba dance lessons online manages to generate more than 100,000 euros per year through his activity. In addition, there are fitness teachers who generate an impressive income.
For example, there is a fitness teacher that I know who has a large YouTube channel in France and who offers sports coaching courses. It generates more than a million euros each year. There is then a wide variety of areas that you can explore. Apart from that, there is also the number of people you will manage to attract and the quality of your product. All of these elements determine the quality of your business model.
2. Profitable business idea: Affiliation
Affiliation is a profitable business on the internet. It involves earning a commission each time you sell another person’s product or service. The entrepreneurs who earn the most money in this type of business that I have met are also those who make affiliation on very sensitive products/services. It is therefore the business of “the adult” online, online casinos, sports betting, poker and gaming. These are also businesses that have a bad reputation with the general public and with banks.
As a result, these entrepreneurs constantly change country and therefore open new bank accounts. They create new companies because they usually close their bank accounts. It is simply because their business is considered to be at risk. In addition, it should be noted that these entrepreneurs make affiliation in several sectors.
Indeed, you can work with a partner who pays you very well (30% or 40% commission) and who will close his affiliate platform suddenly. It may also happen that this partner does not pay you your commissions. It is a business model that is very profitable when put in place. Just do it on a high scale. I have known people who were doing this business in Malta.
Some people were affiliating through online casinos while others were affiliating across different industries. They had therefore hired about twenty editors who wrote articles. Their goal is to position themselves on the first lines of Google searches in order to attract all interested people accordingly. These people may be interested in one or more products. Then, they tracked the click and collected their commissions.
It is thus a very profitable business that very few people will want to set up. But in everything, you have to know how to look for opportunities where others do not want to go.
3. Online coaching
One of the ideas for profitable business is online coaching. This is the coaching that you can do by phone or Skype regardless of where you live in the world. I had met a coach two years ago. He is a very talented coach who also generates more than a million euros per year. It is an activity that he liked to do all day long. It begins at 8 a.m. in the morning and ends at 8 p.m. in the evening.
He received a person every half hour to do the coaching session. His work therefore focused on the theme of “man-woman” relations. He thus helped women who were having difficulty in their relationship. This is for example a situation of separation. Women needed to talk to a person. Thus, he coached them all day and had also set up a team of coaches that he had trained. His company generated more than one million euros per year each year.
4. Profitable business: Become a freelancer
If you are currently working in a business and have high skills, know that you can become a freelancer. Indeed, if you work for a company, your income will be capped. It will not save you much more money. In addition, you will be stuck in one place. However, becoming a freelancer will allow you to offer your service to several companies.
Believe that you are a developer. Instead of coding for one company, you can code for multiple companies for example. Sometimes my business uses developers 3 to 4 hours a week. I will not be able to hire them for example for 35 hours. Under these conditions, the developer charged me more than if he was hired for 35 hours.
By doing so, the developer will offer its service to several different companies. I think it’s an interesting work that makes more money if you offer your services to different companies. A person works for me punctually in this area and achieves a good deal. So there are several areas that you can get into today because the demand exists and is high.
These are the video editors, the people who write sales texts and get to code, and the designers.
5. Business idea: Real estate
Business rentable – L’immobilier peut s’avérer très rentable
Profitable business – Real estate can be very profitable
This is one of the profitable business ideas that I generally develop. It should be noted that there are two types of business in real estate. It’s traditional real estate and entrepreneurial real estate. In the first case, you buy an apartment that you rent out for the year. So it earns you relatively little money. On the other hand with the entrepreneur version, you will use more profitable strategies.
In effect, you buy an old property that you break. Then you renovate it and divide it to make a short-term rental. You can also do colocation, real estate promotion, and others. The advantage of this type of business is that you don’t have to start with a lot of starting capital. It is thus possible to start without a contribution using the bank’s money.
So you can get a good first deal. Then you will get the second and third good deals. Over time, you will build a real estate empire. Keep in mind that this is a difficult business that requires time, perseverance, and certain skills.
6. E-commerce
It’s a profitable business in 2020. There are many ways to do this business. For example, there are the dropships who buy products from aliexpress and then resell them for a profit margin. I have met several drop-shippers who were successful 3 or 4 years ago. Currently, this business is becoming more and more difficult. This does not prevent some people from being successful in this field.
On the other hand, there is a rising trend right now. These are the people who have e-commerce shops. This means that these people either have their own site or they go through platforms like Shopify. Thus, they offer their own products with their own brands and their own visual identity.
I recently met, for example, an entrepreneur who offers cosmetic products with his own brand. To promote his products, he buys advertising and offers his product through influencers. It also has sales pages for this “mono” product. This business works well and generates more than a million euros per year.
For this type of business model, you have a margin of 20% and 30%. If a person generates one million euros per year, it means that this person makes two hundred thousand and three hundred thousand euros net per year.
7. Get started on Amazon FBA
Several people have become multimillionaires with this business model. This consists of purchasing a stock of products that you will have delivered in containers to Amazon warehouses. The latter will take care of selling and distributing your products for you. It is an easy and profitable business. The downside to this type of business is that it requires an upfront investment. This is between 5,000 and 15,000 euros. This will allow you to buy your first stock.
If you delegate, if you have all the product sheets written and you have beautiful photos, you will be able to position yourself in the best search results on Amazon. The main thing in this business is therefore to be positioned in the first research. This is what will allow you to sell and make revenue.
It also shows the importance of having positive opinions. You should also have well-written product sheets and beautiful photos.
8. Be a book publisher on Amazon
It is a profitable business that is little known. You can write books or e-books yourself that you offer for sale on Amazon. This will allow you to have a large share of the sale. It is also possible to hire writers who will write e-books and books that you will sell on Amazon.
You can also hire translators to translate books that are already written in English or Russian. Then, you will offer these translated books on the Amazon platform. Note that it is necessary to obtain the right to translate these books before committing. This type of business requires more time and money. In fact, you have to pay the people who will do the work for you. You can also do this personally.
This business has the advantage of being sustainable over time. You will put the first book online which can earn you for example between 50 and 100 euros per month. Then the second book can earn you between 50 and 100 euros or more per month. The more books you have, the more complete your library will be. This will allow you to generate more money. There are book publishers who generate over one hundred thousand euros per year.
Other publishers generate more than a million euros per year. It is a tedious business that has proven itself for several years.
9. Trading
Trading turns out to be a profitable business. I met five traders who are multimillionaires today. On the other hand, it is a business model that I advise against to 98% of people. Indeed, I estimate that only 2% of the population can succeed in this type of business. It requires very special abilities and a high concentration. In addition, you have to know how to manage your emotions and be familiar with the financial markets.
It is also necessary to apply a methodology over a very long term. These are actually qualities that very few people have. Most of the traders that I have met for several years and those that I have met recently do not play by the rules and lose a lot of money. It is really a minority of people who succeed (less than 2%). I mentioned this business because there are also people I know who have managed to generate large sums of money. These are the people who mainly did trading.
10. Sell an application on Apple store
I met two entrepreneurs who became millionaires thanks to this business. The first entrepreneur has coding skills. This allowed him to develop the application himself. He then did promotion and marketing. Thus, he enriched himself with his application. The second entrepreneur does not have any knowledge in this field but he called on a team of developers in India.
Through this, he was able to create more than ten applications. These applications are not all efficient. Nevertheless, two or three worked and allowed him to become a multimillionaire. It is a fast profitable business idea that you can apply.
11. Develop and sell software by monthly subscription
It’s a very profitable business. This idea is to develop software that you will then sell by monthly subscription. Several French entrepreneurs have become multimillionaires by this process. This is not a revolutionary idea of the century. These entrepreneurs have indeed adapted certain ideas that existed in the United States to the French market. They worked in relation to “autoresponder” software. Indeed, this software sends emails automatically.
There was only the English version but the entrepreneurs developed a French version and marketed it on the French market. Likewise, they created French versions of other software. This is the case, for example, with the “click funnels” sales funnel software. This software allows you to sell online. After creating the French version of the software, they offer them by subscription. More and more the number of customers is increasing. This earns them recurring income.
Imagine that you have a thousand customers who pay you one hundred dollars per month to benefit from your software. You will therefore have a hundred thousand euros in recurring income. This income will increase over time as the number of your customers’ increases. In this way, several entrepreneurs in France are very well known and have enriched themselves.
12. Offer service to businesses
Many businesses need certain people to manage their Facebook Ads or Google Ads. They need certain skills to manage their SEO, copyrighting and more. It is possible to create an agency that will take care of these tasks for the benefit of other companies.
In fact, you need to build a team consisting of a copywriter, a Facebook ad specialist and google. You should also have some SEO skills. Then, you get closer to companies in order to offer them your subscription services for example. You can set the remuneration at 3000 euros per month. It’s a profitable business idea. In this business model, companies remain subscribers for about five months. Thus, each customer will bring you fifteen thousand euros in turnover. You will continue to negotiate with other new companies.
To know more
If you want your business to operate over the long term, I advise you to offer quality services. Thus, by word of mouth, your assets will be published. In addition, if you offer quality services to a company, the latter will not be able to deprive itself of your services. This is to say that the quality of your service will save the company money and the latter will continue to work with you.
It is a profitable business that earns money for some people who are interested in it. There are many business ideas out there and you may be wondering where to start. To help you, I have put at your disposal an hour of training that I offer you. You will learn through this training how you can start your first business from scratch.
This training consists of videos that you can access by clicking on the link in the description.