Million Dollar Business Ideas of 2021
Bryan A Robert
Bryan Hoo and Robert Samuel are active authors as well as Professional Investors in different financial markets and they founded Bryan&Robert Publishing as their flagship publishing company.
This is the complete lesson note on the topic "Million Dollar Business Ideas of 2021".
It is lesson time again! We will talk about the topic of "Million Dollar Business Ideas of 2021". Enjoy~??
Idea#1: Online Education
If you have a skill that other people would like to learn, then capitalize on it by offering online educational resources that teach that skill. Especially with the current landscape, more people are turning to virtual education than ever before — both for practical purposes as well as to pursue a hobby or passion. Experts predict e-learning sales will grow to $325 billion by 2025, which means you should enter this scholastic gold rush before the market is oversaturated with competitors.
By selling e-guides, online courses, e-books or virtual tutoring sessions, you can start a million-dollar business for little upfront cost. Since online education doesn’t require physical materials, or even an office if you’re a team of one, your overhead will be low and your profit will stay high.
Idea#2: Food Delivery Services
Even before the coronavirus pandemic forced many restaurants to pivot to takeout or delivery options only, more and more people were opting for food delivery, whether pre-made dishes or meal prep kits. In fact, 27% of internet users purchased meal kits off the internet in 2016 and these kits are becoming increasingly common.
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Idea#3: Drop-shipping
In order to become a million-dollar business, you may want to consider keeping your expenses low. One such way to do that, is by starting a dropshipping business. What that means is you can start an ecommerce business that outsources product development, material sourcing, inventory, shipping and manufacturing to an outside party. When you have a dropshipping business, you’ll sell products via an ecommerce website to customers, but a third-party manufacturer will handle the order fulfillment and shipping.
Idea#4: Subscription model business
Retaining customers is notoriously more affordable than gaining new ones. Which means if you can lock your customers into a weekly, monthly or annual subscription purchase, then you have a much higher chance of retaining your customers. In 2017, subscription model business websites were receiving around 37 million visitors, which shows that consumers are intrigued by this business model.
Alright, that is all from today lesson. More and more interesting topics will be discussed in the future. Stay Tune~??
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