7 of the most popular online businesses to start right now
Jennifer Ortakales Dawkins
- Many online businesses are easy to start because they require low overhead and are simple to set up.
- The time commitment depends on how much money you want to earn.
A possible recession, continued inflation, and ongoing layoffs have cast a shadow of uncertainty upon the new year. But career experts have said these factors will lead to increased business creation and more side hustlers in 2023.
Today it's easier than ever to start your own business or side hustle because all the tools you need exist online. Plus, many are free or otherwise affordable. This digital revolution is one reason why 10.5 million Americans created businesses in the past two years.
Online businesses can be an accessible way to earn extra income since most have low overhead costs and are simple to run from home. You can buy a website domain, design a logo, and open an e-commerce shop with a few clicks of a button. There's no retail space to rent, no equipment to buy, and no inventory to hold.
"The tools in order to have a side hustle are getting increasingly easier to access at a lower cost," Cynthia Franklin, the director of entrepreneurship at New York University's WR Berkley Innovation Labs, said.
The time commitment depends on how much money you want to earn. Some people run their online businesses with as little as four hours a week, while others run full-time operations clocking 45 hours a week.
Even in a recession, Franklin is confident entrepreneurs will find opportunities to start and grow their businesses.
"If you want to start a business, don't pay attention to the headlines," she said. "Instead, look around you for opportunity or gaps where the status quo could be better for somebody and then work to fix it. If you do that, it doesn't matter if there's a recession."
Insider compiled a list of the most popular online businesses to start in 2023, based on our previous reporting.
1. Virtual assistant
With so many digital businesses started over the last two years, virtual assistants are in high demand. If you're skilled with administrative and operational skills, you can set up a virtual-assistant business by marketing yourself to clients like entrepreneurs and executives.
Read more: I'm a 24-year-old virtual assistant making $8,000 a month. Here's how I built my business and find clients.
2. Vending machines
Vending machines have become a popular side hustle thanks to entrepreneurs on Instagram and TikTok who claim they've made between six and seven figures in annual sales with the machines.
Vending-machine businesses are widely appealing because they require a minimal investment to get started, are low-maintenance to operate, and can eventually generate passive income if you outsource the daily upkeep.
Read more: The 5 easiest vending-machine businesses to start that can earn entrepreneurs 6 figures or more
Read more: This 31-year-old started his vending machine business with $10,000 in savings. Here's how he maxed out his profits to make $300,000 last year.
Read more: The ultimate guide to starting a vending-machine business from scratch
3. Therapist or trainer
If you're certified as a therapist, trainer, or yoga instructor, you can quickly turn that into a service business by setting up a website and marketing yourself to gain clients. Mental-health and wellness services are in demand, giving therapists, life coaches, and trainers opportunities to serve clients online.
Read more: I'm a virtual therapist who booked $350,000 in revenue last year. Here's how I built my business with patients, coaching clients, and social media.
4. Consultant or coach
You can also use your expertise to help others build and grow their businesses as a consultant or coach. Start by setting up a website that highlights how your experience will improve your clients' companies.
Read more: An entrepreneur self-published 5 books and made $124,000 last year coaching authors on how to do the same. Here's how she spends her day.
Read more: A career coach and author quit her nursing job and started a business that generated $11 million in revenue last year. Here's how she spends her day.
5. Cleaning business
While there are plenty of service businesses that require you to do the manual work, it's possible to start a cleaning business without having to do it yourself. You can set up a website, market your services to potential clients, then outsource the cleaning to contractors.
Read more: Our cleaning business made $558,000 in sales last year. Here's how we got started without having to clean a house ourselves.
6. Resale
Selling clothes, accessories, and home goods on resale platforms like Poshmark, Depop, and Mercari can be an easy side hustle you can start with items you already have. Some entrepreneurs have created full-time resale businesses, but that requires additional time to source and list inventory.
7. Freelancing
Another way to use your expertise, whether you're skilled at writing pitch decks or creating workflow automation, is by starting a freelance business. You can easily set up your profile on websites like Upwork or Fiverr to gain clients.
Read more: How a 33-year-old freelancer earned $1 million on Upwork and can work from anywhere in the world
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