7 Online Business Ideas That Could Make You Rich

India is a land of opportunities. This is proven by the number of successful startups that have opened in this country over the last three years. While some of these ventures are purely brick-and-mortar enterprises, others are simply doing business online. Yet a few operate online as well as through a network of offices and stores. India is appearing up to the new online business ideas each day.

As any entrepreneur will testify, setting up a business involves capital. With real estate prices soaring across this country, having an office or store to launch a business can prove very expensive. Hence, the best way to open a new business is by going online. Internet-based businesses also attract customers and can make you rich, as proved by examples such as redBus, OYO Rooms and myriad online stores that flourish here. Even the Airbnb is one of powerful business which is a perfect example worldwide.

There are several reasons why online businesses are preferable for any entrepreneur.

Why Online Business?

One of the main reasons online businesses succeed is the unlimited power of the Internet. Since the world wide web does not recognize geographical boundaries, people anywhere on this planet can access your website. There are other distinct advantages too.

• Online businesses are cheaper to establish due to relatively lower expenses on Internet domain name, web hosting and other requirements.
• You can open an online business from home. Hence, there is no need to invest heavily on renting or buying an office or store.
• Internet-based business gives you the flexibility to operate from anywhere in the world while on holiday or travel.
• Generally, online businesses are accessible 24/7 meaning you can make money even while asleep.
• The volume of e-commerce in India is growing in terms of transactions, freight and money involved.

Considering these factors, it is highly desirable to opt for an online business while embarking on any venture. There are countless online business ideas to open online businesses.  You can select anyone that best suits your education and skills, budget and location.

Top 7 Online Business ideas

To help you make a choice, we list seven online businesses that could make you rich. Remember, these are only suggestions. Before venturing into any of these ideas, it is advisable to assess if you possess the required skills.

Idea-1: Multi-Level Marketing

Multi-Level Marketing or MLM is sometimes called Network Marketing. Indeed, MLM is the best idea to become rich quickly in India. There are two main reasons we rank MLM as the topmost online business idea. First, over a dozen global brands such as Tupperware kitchen appliances, Avon cosmetics and beauty products, Amway herbal nutritional and others are operating in India. Their products are in high demand among consumers. However, most MLM associates of major companies are unable to reach out to potential customers since they cannot go online for any reason.

You can sign-up as MLM associate for any top foreign brand of products and open your online business. Indeed, you need not invest much in opening an online MLM business: you get the benefit of listing your business on the website of the parent company. Secondly, an MLM business can do only with a Facebook Business page and a LinkedIn profile.

Idea-2: Online Translations

Thanks to the Make in India initiative, several foreign companies are now investing heavily in India either singly or through joint ventures with local counterparts. India is a land of thousands of languages, with each state having its own native tongue. Foreign companies wanting to make business here of those with a presence in India require online translations for various purposes. These can be anything from staff notices and circulars to legal documents and contract papers.

Additionally, online translators are also required during webinars between senior officials at the company’s headquarters abroad, local partners and staff. During such webinars, you have to provide real-time and very efficient translations from English to a regional Indian language or Hindi and reverse. Those having expert grade fluency in English, Hindi and a regional language can open an online translations business. Offering scripts of webinars earns you more money.

Idea-3: Social Media Marketing

Businesses small and large look for outsourcing their social media marketing functions to skilled individuals or enterprises. This sector is rapidly growing in India, thanks to the availability of cheap smart-phones and inexpensive high-speed Internet connectivity. India also ranks among the topmost markets for Facebook, YouTube, and LinkedIn, where lots of businesses post advertisements and content for existing and potential customers.

As social media marketer, you will have to post interesting content on the Facebook pages of your clients. Additional tasks involve answering comments posted by customers and forwarding any negative feedback to the company which outsources your business for social media marketing. You can make more money by creating content for the company’s social media page, getting it approved and posting.

Idea-4: Web Designing

For as low as Rs.99 per month, people can book a domain name while web hosting costs about Rs, 3000 or more per year, depending upon the package one avails while buying a website domain name. Hence, lots of small businesses, families and also individuals, societies, community organizations, religious groups and motley other entities look for marking an online presence. Or there are companies which ready to provide Rs.99 per month for hosting with a free domain for the first year.

However, marking an online presence also involves creating a great looking website which attracts visitors and keeps them informed. Should you possess website designing skills and own a laptop or computer, this is a great home-based business to venture. Some domain name and web hosting providers give details about who has booked a website and their contact details to website designing companies.

Idea-5- Online Ethnic Store

Some classic examples of ethnic stores of India include Place of Origin and The North East Store, among others. While Place of Origin sells favorite food items including ready-to-eat sweets and savories, pickles, teas, jams, spices and a variety of other stuff from popular manufacturers across India, The North East Stores offers food items and exotic handicrafts among others, from India’s remote states, Assam, Arunachal Pradesh, Sikkim, Nagaland, Manipur, Mizoram, Meghalaya and Tripura.

Ethnic products –both food and durable- are in high demand across this country and abroad. With some ingenuity and proper planning, you can open a great online store that offers these items to buyers in India and foreign countries. You can buy these products from Self Help Groups and other community organizations for supplying clients.

Idea-6- Online Fitness Instructor

With medical inflation soaring to as high as 30 percent and more in India, a lot of people now are paying extra attention to personal physical fitness. This has increased the demand for online fitness instructors in the country, especially in areas where gyms, sports clubs, and Yoga classes are rare. As an online fitness instructor, you can train people in routine exercises without gym equipment. Online Yoga training is a business that attracts hundreds of customers.

To enter this business, you need to be a certified Yoga or fitness instructor and own a computer with a webcam, other gadgets, and software to provide online lessons. The advantage of this online business is that you can charge very moderate fees to attract a large number of students.

Idea-7: Online Stocks, Commodity Trading

Those well-versed in workings of Bombay Stock Exchange (BSE), National Stock Exchange (NSE) and Multi Commodities Trading Exchange of India (MCX) can open a small business as sub-broker for investors. All you require is a superior quality computer with very reliable, high-speed Internet. You also need a tie-up with some major stock-broking company to open a business as their sub-broker.

As a sub-broker, you have to monitor the stock exchange and trade shares held on behalf of investors you are allotted by the main booking agency. The main objective of this business is to make money for investors, by playing well on buying and selling shares of thousands of listed companies. You get a commission of the profits earned by the main stock-broking company, for your services. The same system applies for trading in commodities too.

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In Conclusion

Opening an online business is fairly easy in India provided you possess the required skills. There are no ‘zero investment’ online business ideas. Simply put, you need to invest in a computer and high-speed Internet connection to open an online business. However, you save a lot of money that could otherwise be spent on buying or renting an office, since online businesses can be started from home. You can also manage your online business through apps on smart-phones that are connected to a good mobile Internet network. Given this scenario, you can opt for any of the above online business ideas that could make you rich quickly.