The USA has always been the hotspot of technical advancements – whether you talk about hardware, desktop software programs or now mobile apps, cloud services and SaaS tools.
Innovations are compounding in the city at an exponential rate, and users are portraying acceptance for the newest gadgets and features.
There is no better time than now to start an online business. That’s because your business will have a competitive advantage as an early adopter of new technologies, and you’ll still have time to experiment with your business and grow it to heights of scalability.
Most importantly, it’s easier to find investors to kickstart your idea if you are looking for third-party funding.
Here are 5 trendiest businesses that are booming around the world and are more than welcome to conquer the Middle Eastern market too:
- Start An App-Based Business
App development is now a lucrative business venture because of the talent pool and the acceptance of the newest applications on different digital channels. The success lies in an epic idea and its right execution.
If you have a unique solution to a modern problem or a cost or time-efficient solution to a pressing problem, all you have to do is find a team of app developers in Los Angeles or Miami and discuss your vision.
We mentioned LA and Miami because of their growing talent pool and economic development rates per hour.
But you can always choose to work with a company that has a headquarter or branch locally. To further optimize your cost of app development, you can hire dedicated services for design and app development in Dallas.
These companies usually pair a business analyst and project manager for effective management and communication of the initial idea.
Then the technical, legal and financial feasibility of the idea is conducted to further validate its implementation.
If you are a startup and want to invest a limited budget on development, it is ideal you go for an agency that at least has a team or two onboard.
Choosing an agency over a freelancer might sound expensive but is cost-effective in the long run when you’d have to test and fix the bugs of your app.
To survive the competition in the app market, you can choose to integrate modern technologies like NFTs, AR & VR, AI and Machine learning, chatbots, and IoT-enabled embedded systems for smart automation.
- Start An Ecommerce Store
If you are interested in a retail business, starting an ecommerce store should interest you.
While tech accessories and VR gadgets are the most trending items, you can also choose to resell custom-made products in the fashion, apparel, sports and education industry.
You can find products on platforms like Alibaba, get customizations, pay to ship, estimate profit margins and start selling.
Now before you can sell online, you need at least one channel to get the word of your business out.
You can choose from social media, an online store with WooCommerce or Shopify or a mobile commerce app to let users add their favorite products to the cart.
Ideally, use social media channels to market and a business website to sell.
And when you plan to scale, hire a mobile app development company in the company for a robust, minimalist ecommerce application that performs similarly on different digital channels.
- Start A Digital Marketplace
If buying items in bulk and reselling them for a profit margin isn’t your thing, you can still start an online business and earn money by letting others buy and sell. This is exactly what happens on Amazon and Etsy – the top online marketplaces.
The revenue model in online marketplaces is a little different. You don’t earn through direct sales but a commission percentage from the sale proceeds of the sellers who choose to create their profiles on your platform.
Several Facebook groups are working on the same model. They either charge a one-time registration fee to sellers or a monthly subscription or a per-post fee before they can share their listings in the group.
While this is seemingly lucrative, managing such groups is excessively difficult. Again, there is an app solution for this. Create an app and let users buy and sell through your digital platform and charge commissions.
One such example is TeeMates. It is a networking platform for golfers and allows sellers to create profiles and sell golfing equipment.
- Start An Online Consultancy
If you have a hobby or a skill that you would like to capitalize on, you can do it through an online course or a digital video platform.
This is exactly what several doctors, nutritionists, interior decorators and wealth managers are doing.
They provide online consultancy and follow either of two monetization models: charge a recurring subscription or charge per appointment/session.
Or, if it’s an online course, you can opt for a prerecorded course or a live one and charge accordingly.
WordPress websites are the best channels to sell digital items like these. In addition to courses, you can also sell planner templates, worksheets, printable exercises and so on.
- Start An Affiliate Blog
Affiliate blogs earn a percentage of profits for products that sell through their links. Starting a niche blog is a convenient way to earn through this model.
These affiliate blogs require little financial investment in the beginning (for website development and customization, domain and hosting) but the more mental effort and time.
You’ll have to select a niche, then shortlist products you can affiliate for, then build content around those products.
Blogs typically take 3-5 months to grow, but with regular search engine optimization, content marketing and community-building initiatives, you can start with decent revenue from your 3rd month.
Best niches for USA-based affiliate blogs include skincare, tech accessories, software programs, sports equipment and apparel.
If your website is managed with WordPress, you’ll only need to take care of the blog writing part.
If you are confident about your writing skills and can use targeted keywords – good to go. If not, you’ll have to invest a monthly salary in a writer to build credibility around the niche topics.
Online businesses are booming around the world, especially after the pandemic when people learned they could get basic edibles to luxurious makeup products online.
Ecommerce and online revenue streams are especially predicted to grow in the Middle East, and it is more relevant now to put your foot forward!