19 Entrepreneurial Opportunities to Achieve Financial Independence

19 Entrepreneurial Opportunities to Achieve Financial Independence

Becoming an entrepreneur and working on your own terms is a great way to earn a sustainable income – but finding the right entrepreneurial opportunities can be quite tricky. Unless you carve out a new space in the market, you’ll find it challenging to make enough to achieve financial independence. Fortunately, there are profit-making options that haven’t yet been saturated by people looking to enter entrepreneurship. 

These ideas rank high because they’re free and inexpensive to pursue, and you can be sure of facing less competition than if you were to start a popular business. Read on to learn what these opportunities are and how to get started. 

19 Entrepreneurial Opportunities to Start Making Money

1. Website Flipper

Website flipping is among the new entrepreneurial opportunities that don’t require a lot of experience to get started. Basically, you buy a ready-made website, improve its design and content, and then sell it for a profit. All of this is managed through a marketplace which aids in the purchase and sale of the site. A niche opportunity in this space is to buy and sell ecommerce websites. For instance, Exchange allows you to buy beauty websites, home décor websites, women’s websites, and more. You can increase the appeal of these websites via SEO, content marketing, and other tactics to earn a good margin on their sale.

best entrepreneurial opportunities

2.  Chatbot Builder

Chatbots are a hot tool in the online marketing space because a well-designed chatbot is a 24/7 representative for your business. One of the best money-making opportunities is selling chatbots to local businesses. Courtesy of point-and-click bot makers, you can now build a friendly and dynamic chatbot that’s capable of answering people on social networks. Companies in your area are probably using Facebook to engage with their customers, and a chatbot might be just what they need to increase their sales.

3. TikTok Consultant

One of the most lucrative entrepreneurial opportunities is TikTok consultancy. You can become a TikTok consultant and earn money by helping brands grow awareness on the video-sharing platform. Clients will pay you for creating attractive bios, brainstorming content ideas, and more. This entrepreneurial opportunity is the perfect money-making idea for digital nomads as you can operate the whole business from a smartphone. To make the most of this opportunity, master the art of creating viral videos that get people to follow and engage with companies.

4. Upcycled Clothing Seller

Upcycling is a great way to transform your old clothing and, besides saving money, the process can make you money too. There’s a massive market for upcycled goods, so if you’re in a thrift store and spot a worn-out men’s t-shirt that could do with a makeover, invest in it! With some creativity, needles, scissors, and embroidery thread, you can easily turn an old tee into a fun tank top for a sunny day at the beach. Upcycled clothing can quickly sell at $50-$80 a piece. 

5. Virtual Dance Instructor

You can open up a virtual dance studio to start making money if you have a passion for dance and choreography. There are several benefits to hosting dance classes over the web: you don’t need to rent a big space, and it’s convenient to record, edit, and share the routine at your discretion. To start a virtual dance studio, you’ll need to invest in high-speed internet and a video conferencing tool such as Zoom. You’ll also need to host enough classes every month so that your students can learn your choreography faster.

virtual dance studio

6. Drone Pilot

It may seem like a fantasy to many people, but it’s possible to start a business of flying drones. The key requirement is to get licensed by the FAA (Federal Aviation Administration). For this purpose, you have to pass a test that’s more about general aviation than drones. You can find all the study materials, training classes, and more on the FAA’s website. The test costs around $150, whereas the license is valid for two years. In addition to a license and the ability to fly a drone, aerial photography skills can give you an edge. Get your first few clients by joining Dronebase and similar platforms that regularly share drone-related gigs.

7. Professional Organizer

If you’re an organized person, why not make money off it? You can get paid for organizing people’s computers, homes, or even their lives. The best way to get clients is to join local networking groups. Another way is to host workshops so that you gain more recognition within your community. Other than that, you can try promoting your services on Instagram, Facebook, and Pinterest. Pro tip: make a video of you decluttering a messy room and post that on your social media profiles. When people see your skills in action, they’re more likely to contact you for your services.  Pursuing entrepreneurial opportunities like these can make you $40-$50 an hour, and more after you gain some experience.

8. Used Mannequins Seller

Who the heck buys used mannequins? A lot of people for a variety of reasons. CPR instructors use them for compression-mouth demonstration. Artists buy them to assist in drawing figures. Self-employed tailors rely on them to produce better-quality work. You can start a used mannequins’ rental company by recycling them for retail companies like Bloomingdales, Nike, Nordstrom, etc. when they remodel or close stores, then renting them to consumers. To keep costs low, create an online presence for your business so that you don’t have to invest in a display center.  

9. Coffee Subscription Company

One of the entrepreneurial opportunities examples in the subscription service niche is coffee subscriptions. Mainly, you provide coffee enthusiasts with a recurring supply of high-quality coffee based on their preferences. You can start a coffee subscription business by sourcing coffee from different niche roasters and designing weekly, bi-weekly, and monthly subscription packages. For the sales channel, consider building a website on Shopify as the platform integrates with a range of shipping apps for a smooth order coordination and deliveries. 

coffee subscription business

10. High-End Antiques Dealer

If you have a habit of collecting old and vintage items, consider opening an antique dealership. Being an antique dealer involves purchasing antiques and selling them for a profit. You can sell these valuables through an auction, marketplace, private sale, or online. The money-making opportunities lie in buying and selling high-end antiques like vintage jewelry, exhibit-quality furniture, and 18th-century paintings. To get this business started, you will need, at the minimum, an online store through Shopify, some inventory, and a way to spread the word about your business venture

11. Unique Pet Products Store

The majority of online pet stores target dog and cat owners. But for people who own other types of animals, from snakes to horses, you could launch a store that sells products specifically for those unusual pets. To make this business profitable, think of ways to diversify your offerings. For example, if you’re selling organic horse food, you might also sell horse shampoos, mane combs, and other grooming accessories. Promote your business by joining local communities and participating in pet-related groups on Facebook. 

12. Greeting Cards Company

If you love picking out and just sending the perfect card for every occasion, a greeting cards business might be the right option for you. But rather than targeting everyone with your promotions, consider gearing your business towards a specific segment of the population. For instance, you can sell greeting cards that cater to healthcare professionals wanting to thank their patients for their business. Before you start, you’ll need to arrange the tools required to make the designs. With options like Canva and Photoshop, you should design custom greeting cards in no time. 

13. Tattoo Sticker Business

If you have a knack for visual art and are looking for creative entrepreneurial opportunities, it can be a good idea to start a tattoo sticker business. Seriously, you can make a lot of money designing and selling temporary tattoos. And with today’s visual design apps and the quality of papers and printers, you can create large quantities of customized stickers on the cheap. Although raw talent goes a long way, those without artistic skills can still run a successful tattoo business, working with freelance tattooists behind the scenes to create quality products for their clients. When considering opening your storefront, use a solution like Shopify to minimize the many costs of making the business operational. 

start tattoo sticker business

14. Facebook Community Manager

With the decline in organic reach, many businesses have shifted their focus towards building and growing Facebook Groups. These are community-driven spaces that allow everyone, from owners to members, to post as much content as they desire. However, there is also the risk that the nature of the content could quickly get out of hand, which is why group admins hire community managers. You can become a community manager for a company by practicing written communication, familiarizing yourself with Facebook’s policies, and learning how to deal with negative comments. Get your first clients by listing your service on Upwork, PeoplePerHour, and other freelance marketplaces. 

15. Niche Immigration Consultant

From skilled workers and business people to those seeking a chance to reunite with family or move to a safer place – more and more people seek the advice of immigration consultants to help them navigate complex laws and paperwork. That’s why now is a great time to start an immigration consultancy business. One of the entrepreneurial opportunities in this niche is in the area of appeals. You can create a profitable income stream if you gain expertise in handling business visa refusals, detentions, and sponsorship-related challenges. To start, you’ll have to get a membership from your country’s national regulatory body that oversees immigration matters, like ICCRC in Canada.

16. Personal Shopper

Do you often receive compliments on your clothing? Are you someone who friends and co-workers come up to for fashion advice? If you answered yes to any of these questions, you probably have what it takes to become a personal shopper. As a professional, you have to evaluate a client’s wardrobe, visit online shops, and select outfits that improve their style. There are all kinds of items on all sorts of fashion websites, so you won’t have to visit brick-and-mortar stores to get this business going. Plus, you can start working and earning money immediately – no specialized degree or training needed. 

17. Online Survey Company

Several businesses rely on survey research to help drive their initiatives. However, the majority of them don’t have the time to invest in building surveys, so they rely on specialist firms to develop them. You can capitalize on this opportunity by starting your own online survey company. For the purpose, you must be skilled in crafting the right questions and presenting the survey to the right audience to provide your customers with accurate and relevant data. The best way to learn these things is by taking a survey collection and analytics course. Once you start getting projects, consider investing in survey creation tools like Typeform as they make it easy to record and share responses.  

entrepreneurial opportunities examples

18. Virtual Friend

One of the most intriguing entrepreneurial opportunities to pursue that’s come out recently is where you get paid for being a virtual friend. People who pay to be friends do it for the interaction they seek at the moment and not for any other activity. Through platforms like RentAFriend, you can connect with people and share fun activities like walking a pet, going scuba diving, or even starting a business together. However, you don’t necessarily need to be an extrovert to be successful in this field. Once you create a thorough and honest profile, you’ll come across people who are keen to talk to you, even if you’re an introvert by nature. 

19. Print-on-Demand Business

People love their customized Avengers, Star Wars, Doctor Who, etc. themed products, making Print-On-Demand an exciting entrepreneurial opportunity. You can pursue it by creating custom designs and getting them printed on mugs, t-shirts, and phone cases. Use Shopify to set up an online store so that it’s convenient for people to see your items. The highlight of this business is that you don’t need to manage the printing process. Instead, you work with suppliers who compose your designs on the products. Another benefit of offering Print-on-Demand services is that you only pay when you take an order. Meaning the customer pays you to have their product printed, and you don’t have to spend a penny upfront.

print on demand business

Conclusion

As times get tougher, staying afloat is the name of the game. For those who’ve caught the entrepreneurial bug, that means finding new ways to earn an income. While there are some high-paying jobs out there that you can pursue in an office setting, they don’t have the freedom of being your own boss or scaling your potential earnings. Fortunately, these 19 entrepreneurial opportunities can help you create a sustainable revenue stream while giving you control over your professional life. Whether you pursue a combination of these businesses, you’ll improve your chances of achieving financial independence. All you need to do is take that first step.

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