5 Profitable Business Ideas That Will Be BIG in 2022
Recent studies from the Pew Research Center found that lack of opportunity for career advancement and low wages were the top reasons some employees quit their jobs. Many are exploring alternative career options; for some, the best move is to start a business.
Being your own boss affords complete autonomy and is a great way to work toward financial independence.
However, with so many potential business ideas, it can be challenging to determine which are worth pursuing. This article will help you get your wheels turning as we explore tried-and-true business ideas you can start in 2022.
If you're excited to take the plunge and build your own business, here are 5 easy-to-start and highly-profitable entrepreneurial projects you can start today.
Drone Videography
Do you know that a drone videographer is a highly sought-after commodity?
The drone industry is booming, and the need for drone videographers is at an all-time high. In today's world, many enterprises use drones and need skilled commercial drone pilots to help them. An estimate published by Research and Markets shows that the demand for drone pilots will increase by about 51 percent over the next five years, and by 2030, sales will reach approximately $16 billion.
Clients
Real estate agents are one of the clients of drone videographers because aerial images can help a property sell up to 68% faster than listings without them. They can elevate listings for commercial and residential real estate properties as they show the overall view of the location.
Event planners are also looking to add drone videographers to their team. With drones, you can go up into the air to capture everything that happens during weddings or birthdays. You can also live stream the celebration as it's going on. Many drones nowadays have live streaming features, so you can film the event to get an immersive video that anyone at home can watch.
There is a lot you can do as a drone videographer. But ensure you get your drone pilot license to gain knowledge of drone regulations and avoid civil penalties.
Check out How To Become a Commercial Drone Pilot to learn more.
Podcast Production
A podcast is an awesome way to share a story and connect with an audience. There are playlists for everyone out there that cater to nearly every taste and preference.
Podcasts and audio libraries has been around for a while but has proliferated over the last few years. In fact, podcast listening is on the rise and on track to hit 125 million by 2022. With 100 million people tuning in every month, large corporations and media advertisers have become more actively involved in this industry.
Podcast management
But creating a podcast yourself may be daunting. So why not try being a podcast editor or manager and work your way up to becoming a producer?
Your involvement in creating a podcast will depend highly on the service you offer. You may be heavily involved with every element of production and distribution - from the raw recording to the editing and all finishing touches. Others may choose to delegate the nitty-gritty work to others and instead oversee a team that does all the leg work.
Either way, there's no end to the creativity in podcasting. Being a part of bringing a fantastic show to the audience can be a lot of fun.
You can start as a freelancer by listing yourself on popular freelancing platforms like Upwork, and you can charge up to $50 (or more!) depending on your skills.
Online Course Creation
Online courses and e-learning playlists are one of the most effective ways of authenticating your expertise and adding credibility to your online presence. Plus, they're fairly easy to make and market online. They are perfect for imparting expertise and knowledge in your field and building a close-knit group of followers, increasing your audience, and making an impact on the world.
By turning the knowledge lying dormant in your brain into a money-making endeavor, you position yourself as a thought leader and foster a community from within the comfort of your home.
The topic you choose will be entirely up to you and can be anything from gardening to website design. However, you must ensure you have true-and-tested experience in your chosen subject matter. The technique of creating an online course needs to be done in a way that boosts your credibility. Running a course without credentials wastes time and can decrease your reputation over time.
What if you're not an expert?
Now, if you're not an expert, you can opt for being an online course creation assistant instead. Connect with professionals, teachers, and people in business and ask them if they want to share their knowledge with the world. This is an excellent way to start because successful people view online course creation as an investment and are happy to pay a premium price.
If the course becomes wildly successful, you can earn up to $50k per month.
Check out The 11 best platforms to create and sell online courses in 2022 to learn more.
Freelance Writing
There are millions of freelance writers worldwide, and it seems like more people want to get into freelance writing. It makes you think if freelance writing is an oversaturated profession.
But the truth is not even close.
According to Statista, there are approximately 213.65 million companies worldwide in 2020. In the US alone, there are 32.5 million existing businesses, and about 600,000 new businesses are created annually.
This number shows that there is no shortage of freelance work. With so many open positions, new jobs come online every day.
Moreover, 400 million websites and hosts launch about 600,000 new ones daily. Website owners will need a lot of content written. Sure, some of them will write their own content. But for the most part, businesses will outsource a lot of writing to freelance writers.
However, while freelance writing generally is not oversaturated, writing platforms like Upwork are.
Instead of submitting proposals in job postings, start reaching out to companies yourself and pitch your writing services. Make sure you have a good portfolio of your previously written articles that you can show them. You can also consider seeking out lists of newly established businesses by contacting any local chamber of commerce. These are great opportunities you can utilize to put your name out there.
The median hourly rate for content writers is $25, but you can charge more or less depending on your experience. You can also charge per article or word. Typically, per-word rates fall anywhere between $0.05 and $1.
Flipping Items
Flipping is a great option for people who want to make extra money. It generally doesn't require a large investment and doesn't include as much risk as other options.
So no matter your financial circumstances, starting a business is always possible.
You can find cheap and free items on sites like Freecycle, Craigslist's free section, and Facebook Marketplace. You can also call your relatives to see if they would be happy for you to take some of the items they no longer need. You'd be shocked to find out how many people will offload their "junk" for free.
Things to consider
However, profitability is key to determining what items to sell. Customers want valuable products, and you need to focus on products that are not just valuable but also in high demand. Concentrating your efforts on more sought-after items means you can sell quicker and more easily.
There are several items you can sell. You can start selling things like books, bicycles, and furniture and reinvest profit into selling more expensive products like consoles, cars, and houses.
You must also consider logistics, shipping, and storage, and keep in mind your personal preferences. It helps you to know the value of the product you're reselling—it's wise to stick to items you know and find interesting.
There are many platforms to consider, such as Facebook Marketplace, Craigslist, eBay, and Amazon. Make sure to take advantage of market dynamics on different platforms. For instance, a lot of stuff tends to go cheaper on Craigslist than on eBay. This is because there is way less demand for items sold locally. So when you're selling on Craigslist, only a few people might want it, and you cannot charge a very high price. But when selling it to an international audience, there is more demand, and you can charge more. So you can find cheap stuff on Craigslist or FB Marketplace and sell it on an international platform like eBay.
Conclusion
Being your own boss comes with some inevitable risks, but it also offers amazing rewards. Many will think, 'oooh, I wish,' but only a few really take the leap.
But isn't it time you start your entrepreneurial journey?
With the 5 business ideas mentioned in this article, we hope you can start working on your business so you too can be a successful entrepreneur in the future.
Good luck!