Latest posts by R.J. Weiss, CFP®
- Financial Milestones To Reach Before 35 - November 20, 2017
- 12 Money Hacks That Will Add $5K To Your Bank Account - November 9, 2017
- 6 Personal Finance Ratios You Need to Know - November 6, 2017
A great idea is the first step to starting a business. But how do you come up with an idea today you’ll be happy about in the future?’
One way is to look at small scale business ideas growing in demand. Being one of the first to market in a hot category has tremendous advantages.
Here’s a list of the 17 hottest small scale business ideas of 2017.
Hottest Small Scale Business Ideas of 2017
# 1 – Blogging
Growth in Internet use isn’t slowing down. Since 2012, Internet use has grown by 87%. Adding almost one million new users a day. One way to take advantage of this growth is to start a blog.
A blog can mean many different things. Maybe it’s a site like this that dives deep into a subject like finance. It could very well be a recipe blog, a news blog, or on another topic you’re passionate about.
As I’ve been blogging for almost 10 years–I’ve come to learn the incredible benefits of blogging. Not only is income potential quite high but blogging allows you to build some high-demand, valuable skills.
- Case Study: How I Made $2,672 Blogging Last Month
- Resource: How To Make Your First $1K Blogging (free sign up below)
Free Email Course: How To Make Your First $1K Blogging
The blueprint I used to earn my first $1K blogging.
Opt-in below to have it sent straight to your inbox!
# 2 – Freelance Writing
If blogging isn’t right for you–an alternative option is to become a freelance writer. Websites of all types are looking for quality content writers to capitalize on the trend of increase Internet usage. There are many examples of freelance writers earning over six-figures a year now.
With zero startup costs (all you need is a computer an Internet connection), freelance writing is a tremendous small scale business idea.
# 3 – Surveys
If the idea of making an extra few hundred dollars a month would make a big difference in your life, online surveys can help you do just that.
There are no startup costs, no clients, and you can even start earning money today.
There’s been a lot of growth to online surveys, as companies are looking to dive deeper and deeper into market research. Many sites have paid out close to or above $200 million.
Here are 4-legit sites to start with:
- Swagbucks – A reader favorite of The Ways To Wealth, where you can earn good money with surveys. Plus, a number of other ways such as watching videos and searching the Internet.
- MyPoints – MyPoints is another large survey site. Their parent company Prodege has an A+ rating with the Better Business Bureau. MyPoints has paid out over $236 million in gift cards and cash since 1996. Plus, they offer a $5 bonus for your first five surveys.
- YouGov – YouGov is another legit survey site, which specializes in political surveys. You have to answer a few basic questions about yourself to see if you qualify, then get access.
- InboxDollars – Partner companies include NetFlix, WalMart, Target, & H&R Block. In total, they’ve paid out over $50 million in rewards. It’s similar to Swagbucks; you have access to surveys that pay cash but and can earn watching videos and making purchases through their portal.
To maximize your earnings, you’ll want to sign up for each of these sites. This way you can always take the highest paying survey among the four.
If earning a few hundred dollars a month can make a big difference in your life—you’ll want to check out The Ways To Wealth’s Free 7 Day Email Course: How To Maximize Your Income With Online Surveys:
Free Email Course: How To Maximize Your Income With Online Surveys
Learn the secrets of earning good money with paid online surveys. Opt-in below to have it sent straight to your inbox!
# 4 – eCommerce
Beyond reading content, people are coming online to buy things. Amazon’s sales increased over 25% in 2016 in North America. Amazon is quickly expanding into other countries as well.
While eCommerce is growing beyond Amazon, Amazon does make it very easy to start selling physical products on your own.
This is something I’ve done myself. Sourcing a product from a supplier and listing it on Amazon. While I’m just a few months in, I’m very excited about the potential.
- Case Study: Amazon Success Story: How One Man Built a $10k Per Month Amazon FBA Business in Less Than 4 Months
- Resource: 7 Day Email Course: Everything You Need to Know to Start Selling on Amazon
# 5 – Bookkeeping
Bookkeeping may seem a bit of a surprise to come on the list. However, the fact is more and more individuals are starting business of their own or freelancing. This trend is what’s keeping bookkeeping a growing market sector.
The benefit of bookkeeping is that startup costs are low, as well as required training. It’s a field that in a short-time and with little experience you can earn over $60 an hour fairly quickly.
- Resource: How to Start Your Own Bookkeeping Business & Earn $60+/hr in 10 Weeks Without Going Into Debt
#6 – Executive Virtual Assistant
Along with bookkeeping, more solopreneurs and small businesses are hiring remote virtual assistants. Work can entail anything from managing someone’s inbox, to client service.
- Case Study: Three Virtual Assistants Who Have Taken Their Businesses to Six Figures
- Resource: 150+ VIRTUAL ASSISTANT services that you can offer today!
# 7) Niche Site Owner
What’s the difference between a blog and a niche site?
Niche sites are in many ways easier to manage than a personal blog. Unlike most blogs, a niche site’s content is more focused. For example, a niche site in the personal finance space, would be all around one topic, e.g. Individual Retirement Accounts.
The goal is to become an authority on that single topic.
The benefit of having your content centered around one topic is Google more easily recognizes your site as an authority. This allows your site to generate a lot of free traffic through SEO.
Now, compare this to a blog where you’re typically managing a lot of traffic sources (SEO+Social Media+Email Marketing, etc…) and you can start to see the benefits.
If you’re interested in learning more, I highly recommend Chris Lee’s FREE 5 lesson SEO course that has helped 5,000+ marketers build profitable, high-traffic sites.
Chris has built multiple niche sites as high as $20,000 a month in revenue. His 5-Day course is an excellent starting point to determine if niche sites are for you.
# 8 – Make Money At Flea Market, Garage Sales, & More…
Do you love going to flea markets, garage sales, or browsing thrift stores? If so, you can make money flipping items you find for profit.
Think of this side hustle as buying an asset and selling it for a higher price. Your inventory can be anything you may find at a garage sale.
The goal is to have a superior information advantage. This means understanding the market of what you’re buying, better then the person selling the item.
Robert and Melissa Stephenson of Flea Market Flipper have a Free 5-Day Email Course on making money flipping items. They made over $130,000 last year, so their course is definitely worth checking out to see if flipping is right for you.
# 9 – Podcaster
Speaking of podcasting–it’s another trend in the online space. As smartphones have made it easier to find your favorite podcasts, the demand for quality podcasts hasn’t caught up with supply.
# 10 – Author
Ten years ago, e-books accounted for less than 1% of the book market. Today, ebooks account for about 25% of total book sales.
What’s nice about eBooks is they can eliminate the publisher from the picture. Now, it’s the author who is making more of the money.
# 11 – Information Product Creator
Fast-growing sites like Teachable and Udemy allow anyone to create and market a course. This has allowed anyone with something to teach, an opportunity to create and sell information products to a hungry audience.
- Case Study: How to Earn 6-Figures Teaching Online Part-Time
# 12 – SEO Consultant
A marketing career is another fast growing job sector according to the Bureau of Labor Statistics. One of the hottest trends inside marketing is Search Engine Optimization.
This is the art of attracting more visitors to a website using search engines like Google.
- Case Study: How I Built a 7 Figure SEO Agency
# 13 – Web Design
The Bureau of Labor estimated a 27% increase in demand between 2014 and 2024 for web designers. A rate much higher than most careers.
Web design isn’t difficult to learn. A great shortcut to high paying work is to specialize in a growing design platform like Unbounce or LeadPages. This is actually how I went from a beginning web designer to having an hourly rate of $100+.
# 14 – Become an Online Coach/Instructor
With being able to connect easier to others across the globe, opportunities are opening up in consulting or coaching. It also means there’s more and more opportunities in small niches as the target market isn’t just local.
# 15 – Etsy
If you’re the creative type, Etsy is a site where you can list your products for sale. Anything from digital art to crafts sells on the fast-growing platform.
Etsy store owners generated close to $350 million dollars in sales in 2016. This was up from $273 million in 2015.
- Case Study: How One Crafty Mom Earns $70,000 a Month on Etsy
# 16 – Affiliate Marketing
Affiliate marketing allows you to sell products of other companies for a commission. While it’s popular for website owners, it’s not required to have a website to earn money through affiliate marketing.