Having their own business is a dream for everyone but most of them fail to get out of the job trap.
The Internet is making people’s lives easier in all the possible ways and now no one needs to quit their job to start their own business.
With a lot of opportunities at our fingertips, we can start our business as a side hustle, grow it big, and then we can quit our job to do business full-time.
But choosing the right idea is the first obstacle everyone encounters when starting a side hustle and it makes a lot of difference.
There have been a lot of articles published about business ideas but most of those suggest babysitting, food delivery, or similar kinds of minimum-wage gigs.
If you are looking for those small paying gigs then this article is not for you. But if you are looking for a side hustle that:
- You can start immediately with very little investment
- Makes at least $100,000 a year
- Has the potential to replace your full-time job
- Takes less time to maximize your income
then you came to the right place. The business ideas we have mentioned below meets all the above criteria and bring six-figure income annually.
So, why waiting. Let’s jump into the list.
Six-Figure Business Ideas With Very Little Investment
Blogging is the first thing I would suggest to anyone who is thinking of starting a side hustle. With less than $100 investment, this side hustle gives you an opportunity to earn a six-figure income by working at home. And if you search about Blogging on the Internet, you’ll also find people who earn six-figure or even seven-figure income every MONTH just from a single blog.
On the other hand, it takes time to bring results. So, one must be very patient and work very hard to get a breakthrough. Once you start getting results, you’ll love this job more than any other job.
To get started, you need a domain address (like www.yourblog.com), hosting service (which makes your blog live on the Internet), and a website theme (you can use a free theme if you want to lower your budget).
You can get both just for $2.95/mo at Bluehost. This company offers a FREE domain address for those who sign up for its hosting services. You can also buy these two from any other platform you like but buying them separately would cost you a few more bucks than Bluehost.
Investment: Less than $100 (for a domain, web hosting, and website theme)
Best Resource: Earn More Blogging FREE Workshop by Greg Johnson and he is giving tips and techniques he has used to build his Blog Revenue to $500,000/Year.
Dropshipping is an eCommerce business model.
Here you buy products from a supplier or wholesaler. Next, you create an online store and list your products with new prices.
If anyone purchases through your store, payment comes to your hand, and then the supplier ships the item directly to the customer’s address.
Finally, you pay the supplier the buying cost and keep profits.
In dropshipping, everything will be in your hands like fixing the selling costs, controlling profits, and offering discounts. The beauty of the dropshipping business is that there is no risk practically. You can start with very little investment upfront and No inventory is required at all.
Coming to the income part, This Business Has More Income Potential and Less Work Required Than Blogging.
And the best part is, you don’t need any eCommerce experience to get started.
Investment: $80 – $100 (for hosting services and a premium eCommerce website theme)
Best Resource: Learn How To Build Successful Shopify Dropshipping Store.
3. Freelance Writing
Freelance writing is another one of the six-figure business ideas you can start literally with zero investment.
As per the reports, there are nearly 1 billion blogs on the internet and this is creating a huge demand for freelance writing.
And you don’t need to be a native English speaker to become a content writer. All you need are great language skills, writing skills, and a passion for writing.
Before getting started, you need to find the area you love writing in and start writing some samples. Focusing on one area will bring you faster results than focusing on multiple niches.
This side hustle even works well for beginners. As a newbie, you can demand $50 – $100 for a 1000 words article and as an experienced writer, you can demand 1000 bucks for the same article.
Coming to the clients, there are several ways to find legit clients. You can directly pitch bloggers or use LinkedIn or Facebook Groups or join freelancing websites.
Best Resource: Join How To Build A Six-Figure Writing Career – Free Workshop by Holly Johnson.
4. Build Instagram Followers
Out of all social media platforms, Instagram is the most engaging place on the Internet. If you want to become an Insta Model or want to build a social media brand, then it is the right place to be.
Compared to other popular social media, Instagram is nearly 60x more engaging than Facebook and 120x more than Twitter.
With the use of automated tools and brand new content, you can build a massive Insta following more quickly than you think.
Once you get enough following, you start monetizing it. There are plenty of ways to monetize your Instagram account such as Shout outs, Brand collaborations, product promotions, etc. You can also drive lots of traffic to your blog or email list.
Best Resource: Step-by-Step Guide To Build a Six-Figure Business on Instagram.
5. Online Courses
Would you believe me if I tell you that the online learning industry hit 100 billion dollars last year? Yes, That’s “B“, not “M“.
Millions of people around the world searching every day for courses to learn the skills that you already have. Once you realize it and find the earning potential of skills you have, then you wouldn’t like to stay calm.
Getting started with online courses is also simple. A screen recording software and a pair of headphones with an inbuild mic are far enough to start recording your videos.
And the beauty of online courses business is that you work only once. But your courses will be live on the Internet forever and brings you sales. If you have multiple skills, then you can create as many courses as you want and create passive income.
Investment: ($150 if you want to host courses on your own website)
Best Resource: Learn How To Build An Online Courses Business.
6. Build an Email List
A lot of people think emails are boring and email marketing doesn’t work. Yet, it is told to be one of the most profitable business ideas that could make you a six-figure income.
Email newsletters are another great way to generate sales and revenue. Honestly speaking, you need to add more value to your audience than focusing on your revenue. Then only they stay and follow otherwise they hit Unsubscribe and go.
The social media platforms may change their policies or online advertising platforms may increase their CPC, but once you have a good number of subscribed audiences, you can reach them directly anytime.
With enough number of subscribers, you can start monetizing your newsletter. Making money with newsletters is not limited to one thing, you have the flexibility in your hand to promote any product which should be useful to your audience.
You can promote affiliate products, courses, podcasts, amazon products, books, and more.
Investment: Less than $100 (for hosting and email services)
Best Resource: Email Marketing Mega Bundle – 10 Best Courses in 1 Place.
7. Write and Publish Kindle eBook
Well, this business is similar to the Online Courses business but here you need to create a book instead of videos.
Amazon is giving an opportunity for everyone to sell their skills in book format on the Kindle platform. So you have an opportunity to become the best selling author and sell your books to millions of people.
Books on Kindle are completely eBooks and there is no space for challenges of traditional publishing. So, nothing there to stop you from publishing a book on this self-publishing platform.
Once you are done with publishing the book, promote as much as you can in the beginning. If you get a good response and ratings from your readers, it ranks better in the search and generates sales continuously. That’s unlimited passive income for the work you do only once.
The best part is that you don’t need to the best writer in the world or the world’s best expert in a topic you want to write your book in to publish the best selling book. You can outsource writers, editors, cover page designers, or anyone’s assistance you want.
Investment: $100 – $200 (for editing, formatting, cover designing, and publishing)
Best Resource: Kindle Publishing Masterclass: Write & Publish Kindle eBooks.
The world is moving toward freelancing and if you wise enough, this is one of the most lucrative business ideas with which you can make a six-figure income every year or every month too.
There is an infinite number of ways to go for it. If you are good at any specific skill, then you can make money freelancing it. You may think I am talking about programming or coding but you can also offer services like proofreading, editing, writing, formatting ebooks, logo designing, social media management, etc.
If you are interested in freelancing but don’t like to search for clients, then you can use platforms like Fiverr, Upwork, and Freelancer. These are the well established freelancing platforms on the Internet with a large number of active audiences. So, you can start offering your services without searching for clients elsewhere.
One thing to note that these platforms take a percentage of your earnings as the service fee. If you don’t like to lose that portion of your earnings, then you can build your own portfolio and find clients elsewhere such as LinkedIn, Facebook Groups, Discussion forums, etc.
Despite this business has huge earning potential, working as an individual could make your journey of six-figures hard. So, start small, build a good number of clients, and then start hiring people who can replace you in completing the projects. Meanwhile, you can focus on getting more clients and scaling your business to the next level.
Best Resource: The Complete Freelancing Course: Upwork, Fiverr Home Business.
9. Affiliate Marketing
Affiliate Marketing is nothing but selling others’ products and get commissioned for each sale you generate. That’s it.
Almost every digital product owner these days encouraging affiliates to increase their sales. So, you’ll find many different yet useful products in any niche that you want to focus on.
The commissions in affiliate marketing may vary anywhere from 1% to 75% and there is no limit in promoting products so you will as more money as you promote more products.
The reason why most people choose affiliate marketing even it is a bit difficult is that it teaches you a lot of useful skills. As an affiliate marketer, you are responsible for creating landing pages, writing newsletters, creating ad campaigns, etc and you’ll learn all of these skills while earning money from it.
Once if you succeed as an affiliate marketer, you can even create and sell your own products. Having a blog, or following would speed up your affiliate revenue.
Investment: ($100 – $200, depends on your choice)
Best Resource: Learn How To Make $50,000/Mo Through Affiliate Marketing.
10. Start Flipping Products for Profit
Ever thought of making money by selling old books, furniture, and any other things that are no longer in use in your home?
Yes, you can sell them online and make some extra bucks but how six-figures?
Well, you can’t make six-figures by selling things that are in your home. If you think a bit deep, you could find a lucrative business idea in it.
That is buying other people’s stuff for cheap prices and selling them for profits. First of all, you search for products on platforms like Craiglist, Nextdoor, and buy useful products. Later, you modify the products, take good pictures, and again list them on the same platforms with your own pricing.
So, the selling price and profits are completely in your hands. Once you learn the trick to buy for less and sell for profits, then you’ll know the real potential of this business.
Investment: ($100 – $500 depends on your choice).
Best Resource: Flipper University by Rob and Melissa.
11. Sell on Amazon FBA
Have you ever heard of Amazon FBA? Most people think that Amazon is just an e-commerce giant where we can buy lots of stuff.
If you are among the one who thinks in the same way just know a fact that there are some people selling things regularly on Amazon and made a base from this as a full-time income.
Yes! This is true you can earn more bucks by selling products through Amazon FBA, here to know about FBA this is nothing but Fulfillment by Amazon(FBA).
When coming to how it works, FBA is an e-commerce service where all the third-party vendors share and store their products in Amazon’s FBA centers, and here the rest is taken care of by Amazon.
This includes Sorting, Grading, Packing, Shipping, Delivering, Payments as well as returns. Small vendors are getting access to Amazon’s web-to-warehouse by this they can make work easier and can sell their products for profits with limited work.
You can also flip the products you purchase from local stores and make a profit by using Amazon FBA services. All you have to do is build an idea of the products and the process to avoid losses. You should hold a selling professional account of Amazon FBA.
Investment: ($40 to get Amazon Professional Account)
Best Resource: The Selling Family by Jessica, Cliff & Aiden.
12. Become a Uber Driver
Ever thought Uber drivers earn almost equal to a full-time software engineer? According to Business Insider, this is also one of the six-figure business ideas out there.
If there is one job that can be named both part-time, as well as full time, is being a Uber driver. You can choose this job to start making money on the instant.
When coming to the earning potential for a Uber Driver mainly depends on the base fare plus amounts for how long and how far you drive. Per-minute and per-mile rates these rates can vary by city.
You can also claim surge and additional charges on extra pool pickings, natural causes, and in the places of high demand. Along with them there are added incentives for reaching targets.
Business Insider did a survey and broke down the number of daily trips you’d need to earn six-figures annually. These numbers are not the same for all American cities. For example, in Dallas, you have to complete 28 trips in a day, while in San Francisco city, 13 trips in a day are far enough to reach your targets.
This is the most underrated 6-figure business idea. Still, waiting? If you are passionate about driving a vehicle, Pick your driving license, and apply for Uber right now!
Investment: Absolutely Free!
“A very simple fact that is hard to learn is that the time to save money is when you have some”- Joe Moore.
Dreaming is the usual thing that everyone does, but achieving is what very few people do. Give priority to the time and make wise decisions. Hunt for opportunities and achieve financial freedom in no time.
6 figure income is what we all wait for, With consistency and hard work 6 figure income is not so far. For this, we tried our best way to cover the six-figure business ideas that are suitable for everyone. These 12 ways can help all your way through. Write back to us on your say. Thanks for reading!
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Siva Mahesh is the Founder of Dreamshala. He shares his ideas on online business ideas, remote career opportunities, and freelancing. His writings have been featured on US News & World Report, Yahoo Finance, USA Today, Databox, CEO Blog Nation, and more.