This is the age of the entrepreneur. TV shows such as The Apprentice and Dragon’s Den show that if you have a great idea and a will to succeed, there are fewer barriers to success than ever before. Better still, while nobody would refuse the chance to work alongside Sir Alan Sugar or Peter Jones, startup costs for a new business can be minimal in the internet age, and there is no reason to be reliant on investors with deep pockets.
Here, we take a look at five startups that could set you on your way to entrepreneurial success:
Affiliate marketing
Looking for something you can start slow on without the need for financial investment? An affiliate marketing business could be just the ticket. The affiliate marketing space is growing by the day, and provides the potential for lucrative returns for little hassle. Businesses pay commission on the basis of sales, leads or clicks that you provide – essentially, it provides all the positives of selling without having to worry about creating the products or sending them out to customers. It might sound simple, but it will only be lucrative if you plan and manage your business carefully and put time and effort into it. Remember, if it was as easy as people say, everyone would be doing it.
Phone cases
Some call this the smartphone age. Practically everyone has one these days, and the first thing most people do with a new phone is buy it a case. The smartphone accessories market is predicted to be worth more than $120 billion by 2025, so it is a market that is full of potential. With the vast array of phone types and designs available, this is the perfect opportunity for a drop shipping operation in a growing market.
Online casino
Another consequence of the smartphone age has been the increased popularity of gaming among adults, particularly in the casino sector. Given the number of UK online casinos that are already in existence, you might think the market is saturated, but the truth is that advances in live streaming, virtual reality eSports and other areas mean that there are plenty of niches to exploit.
Backpacks
Another great opportunity for those who are attracted by the drop shipping business model. Backpacks have become increasingly ubiquitous over the past 20 years. Once the province of hikers, they then became the accessory of choice for students carrying school books. Now, you are as likely to see commuters with a backpack as with a briefcase. Could they overtake the traditional handbag next? Like the phone cases, there are numerous shapes, sizes, designs and markets to exploit.
Dashcams
We’ve all heard of the phrase “car crash TV” and there is nothing more compelling on YouTube than the dashcam footage that gets posted from all over the world. Dashcam usage is on the up, insurers are offering reduced premia for those who use them, and all those YouTube videos are ready-made marketing resources. The market is expected to be worth more than $4 billion by 2020. Another drop shipping opportunity that is too good to refuse.
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