The biggest issue faced by entrepreneurs has been how to setup up an online business. However, if you move in the right direction then setting up an online business can be less tiring and more exciting. Your business idea, which you are pushing, might be great, but it might not be appropriate as per market conditions, consumer demand and future returns.
How do you decide on the appropriateness of a startup idea?
Global brands are built with sheer planning and the first step in that process involves choosing the right audience. You have to ensure that you target the right audience. This will not only help you build a brand name but also result in better ROI. Based on the same, this post covers a few startup ideas that are apparently the trending fads.
Online education is not a new realm but online tutoring certainly is. This kind of marketplace lets students post questions and get answers from experts. Online tutoring websites like Studypool and Tutor.com offer this facility. Tutors registered with such platforms pay for promoting their profiles as well as for membership and earn from students who choose them for answering queries.
Online Food Ordering and Delivery
Online food ordering and delivery is all the rage and platforms like Munchery, Zesty, and Sprig have presented a well-run version by allowing people to order meals from online menus. Few websites tie up with chefs and deliver their food to end customers. Providing meals at doorsteps of locales can be a great idea if you target a city that lacks a suitable system to process online food deliveries. You can take a look at platforms like YoYumm, FoodPurby, which are formidable online food ordering and delivery platforms.
Creating an ecommerce website like Mongoo, Fancy, Polyvore, and Wanelo can be printable if you do not want to take pains of logistics and other issues of online product selling. A community-based ecommerce site is an innovative way to sell online. These sites act as a social platform where users have options to share, review, and comment about products and follow each other. The site sends traffic to actual seller and earns commission.
Music Streaming Website
Just like eating, studying and online shopping, music can never be less in demand. Online music streaming industry is growing at lightning speed. The success of Spotify, SoundCloud, gaana.com, Saavn, etc. manifests popularity of free online music. You can create a similar portal that maintains music database and lets users listen to it for free. Charging for downloads, promotion of new artists/bands, memberships, advertisements can be various sources of revenue.
Multivendor Ecommerce Marketplace
Last but most tested startup option is creating multi-vendor stores like FlipKart, Amazon and Etsy. B2C online retail is one of the most tempting startup options as people are familiar with this business model. To make your mark in this industry, you will have to build up a unique interface and make shopping exciting. Build a site where multiple sellers can showcase and sell their products; you can earn commission on each transaction. Platforms likes Magento, YoKart are some of the best solutions to start a multivendor store.
The aforementioned ideas require different viewpoint of investment, attention, and planning. You must choose the one which excites your soul. Combining right business model with efficient functionality will help you launch a successful startup. You can also survey a set of consumers in target market and assess user demand beforehand. Begin with this and your startup journey will advance itself.