This post was last updated on April 6th, 2021
We all want a new venture to have the capacity to grow, so what are the best scalable business ideas that can be ramped up with minimal monetary input. This miraculous type of business can increase its output to an unlimited extent while maintaining profitability and manageability. Don’t we all want that? Although additional inputs will be needed In the form of manpower, raw materials, advertising and other costs, the additional sales revenue will more than compensate and deliver us growing profits
Scalability works particularly well with online business. It provides one of the best self-employment opportunities. Why so? Well, It’s because virtual resources can be rapidly ramped up. For example, advertising can be increased through Google or Facebook. If your profit is directly correlated to the number of ads that you run there’s no limit on how much money you can make.
If you’re needing administrative support with an online business, you can easily hire virtual resources which can easily be turned on and off.
So what are the best scalable business ideas? In this article, we’ll will list out our top five.
1. Email Marketing using Ads & Affiliate Marketing
This is a unique scalable opportunity which is available right now. It’s not for the inexperienced but it can be extremely lucrative if done properly.
It involves gathering email addresses in a particular niche by way of a lead magnet. You can do this using a free giveaway book etc. You can find royalty free books to give away at IDPLR.
The aim of this method is to get people onto your mailing list for the target niche. You’ll then send them a few affiliate offers that are suited for that group so that you reach a break-even point for the advertising.
While you might think that breaking even doesn’t sound like a good strategy, you have actually gained an asset in the process. You’ve developed an email list of warm leads:
We’ve now got a huge email list which we can email alternative relevant articles to in the future. The money which you can make in the subsequent mail-outs is almost pure profit.
Once you’ve got a list you can also start making money from product launches. These can be really profitable as they usually involve just sending traffic to a webinar.
The great thing about product launches and indeed any affiliate marketing is that you don’t have to do any customer service or fulfilment. All you need to do is send traffic to the offer and the buyer needs to make a purchase within the period of the cookie.
2. Blogging – Best of the Scalable Business Ideas
Blogging is quite likely the most scalable of the online business ideas. You make money with blogging when you get traffic to your site. It’s a numbers game as only a small percentage of visitors will click on the links (affiliate links or display advertising) that earn you money.
So the more traffic you can get to your site, the more revenue you will make. At the beginning, you’ll have very little traffic, but this tends to snowball over time.
The only thing that will slow you down in making money is if one of your posts goes viral and your web posting can’t handle the additional traffic.
Hey, but isn’t this a great problem to have? What we need to do in this situation is to move your web posting to a fast Google cloud platform such as Kinsta. Now your page loading speed will never be throttled back if you get a viral traffic spikes
So In my mind, blogging is almost infinitely scalable. It can also be an incredible passive income generator once you’ve put in the initial work. It becomes passive as you can start to outsource the content generation work (article writing) to paid writers or guest bloggers.
3. Ecommerce – Dropshipping using an Online Store
If you’re looking for quick revenue with your business, then ecommerce is probably your best option.
If you think about it, many of the items that you currently purchase online are through a dropshipping store. Dropshipping is a huge global sector and provides a valuable service for both buyers and manufacturers. Many people develop a close supplier relationship with a manufacturer or distributor.
They then market these products using online advertising – usually Facebook or Google. This web traffic is then driven towards their online store. Shopify is currently the most widely used and arguably the best store platform. It provides a means to showcase your products and provide a checkout service for your customers.
There is money to be made with dropshipping but it’s not easy.
Firstly, you need to become adept at picking products that people actually want to buy … not always an easy task. What you like is not necessarily what the market likes, so you need to test a few products.
The best items are generally in the range of $300 – $1000 each and might include such items as kayaks, bicycles or motorcycle accessories. Why this price range? It’s because you’ll profitability but have a smaller quantity of units sold, hence fewer customer service and shipping issues.
Secondly, you’ll need to build up a knowledge of how to set up Facebook or Google advertising for your products. This isn’t a simple task and there’s a lot to learn, so I recommend taking a course on this. There’s many such courses on Skillshare and Udemy.
It’s possible to make really great money with dropshipping if you have quality products, fast shipping and a good relationship with your supplier.
One major downside however is that you’ll need to deal with customer service queries and complaints unless you outsource this function. This might require telephone support. There’s many services which will provide you with phone support for a fee.
4. Software as a Service (SAAS)
Software as a service (SASS) can be another highly profitable online business option.
A SAAS product is one where software is provided to customers as a service but the software is based on the host’s network. Most cloud-based web services are SAAS products.
It does require a large amount of work upfront however as you’ll need to develop a software product that you can sell. This might require some upfront investment as well.
Types of SASS products are many and varied. If you run a WordPress website or blog, you might install the Elementor plugin which allows you to easily create web pages using drag and drop functionality. For example, this blog post was created using Elementor.
Canva is another great example of a SAAS product. It allows you to easily create graphics for blog posts, Youtube, social media posts etc and doesn’t require any knowledge of graphic design.
5. Online Course Creation – Scalable Business Ideas
The online course markets are expected to grow from approx. $200 billion today to $300 billion by 2025. Online courses are booming and for good reason. Students love them as they can consume course content in bite size pieces whenever they feel like learning.
Online courses are infinitely scalable as they just depend upon using a fast platform.
Udemy is probably the most popular platform to host your online courses. With Udemy, you’ll be paid for every course that you sell.
The other major platform is Skillshare, which is a subscription based model where users pay an annual fee. With Skillshare, you’ll be paid based on the watch time on your videos.
You also have the option of self-hosting courses on your WordPress site. This will be more expensive but you’ll have total control. If you’ve got a high value course, you can potentially sell it at a much higher price than on the course platforms.
6. Youtube Channel
YouTube has to be one of the most scalable business ideas.
It can take a while to get traction but when your channel finally starts to get more views, and you meet the eligibility requirements, you can apply for monetisation of your channel through the YouTube Partner Program.
You’ll be paid based on the watch time on your videos, not subscribers. Regarding the payment rates, they will vary depending upon your particular topic area.
If you’ve also got a blog, why not also create a YouTube channel in the same niche? Your Youtube videos can drive traffic to your blog and your blog can drive traffic to your Youtube channel.
Summary of Top Scalable Business Ideas
The best scalable business ideas are online as they don’t require physical store fronts and other expensive fixed assets.
Of the methods discussed above, blogging offers the most scalable income with the least physical input requirements. You will obviously need to write the articles for your blog or pay someone to write them. However, once your blog is established, you can monetise it through either affiliate marketing, display advertising or both.
I’d generally recommend combining this with a Youtube Channel and social media in order to boost the visibility and reach of your website.
Dropshipping and SAAS can also offer huge opportunities. There’s a steep learning curve with both and some upfront investment required (particularly with a SAAS product).
Frequently Asked Questions
How long does it take to make Money with Blogging?
It will take considerable time before you start making money with your blog. How long that will be exactly depends upon so many variables such as your choice of niche. It’ll generally be at least 3 to 6 months or longer. This is because it takes time to build traffic and find your audience.
Should I wait to Monetise my Blog until I have a decent amount of Traffic
You should generally wait until you are starting to see regular volumes of traffic before adding PPC advertising to your site. This is because advertising is a numbers game and less than 1% of visitors will actually click on ads. So the ad blocks will do more harm than good by slowing down your site at the same time that you’re trying to build traffic.
With affiliate marketing, it doesn’t hurt to apply to some relevant affiliate programs in your niche. You can add these links to your site at any time as they won’t slow your page load speed.