The 17 online business models that work best in 2024

Wasabi Team
Wasabi Team

If you are looking for online business models, you will be happy to know that there is a long list of these, so the possibilities of generating income online are real. Of course, it is not something that you will achieve overnight, but it involves dedicating time and effort to achieving your objectives.

In addition, it involves making a correct choice of the business or businesses that will be worked on. To make it easier for you to choose the right one, in this post we list the ones that work best this year.

The online business models that work best

When is it considered a digital business?

When we talk about a digital business we are referring to one that is carried out on the internet. It may be that it is only digital, that is, there is no physical establishment, or it may be the online version of a store or business.

In order to be considered a business, it must meet an essential characteristic: generate income from its online presence.

Let’s take an example. A website can be considered a business if it generates income, either from the sale of advertising space or from having a section where products or services are offered, to mention just a few cases.

Types of online business models

We have selected the types of online businesses that do work, of course, you can use as many as you want to diversify your income:

Business models based on intermediation

Let’s start by looking at some ideas in which you take the role of intermediary between a brand or supplier and a customer.

Dropshipping

Dropshipping is a business model that consists of being an intermediary between a manufacturer and the customer, only the latter does not notice it.

To do dropshipping you need to have an online store, the one in which you offer the products sold by the supplier you have selected. Thus, when an interested person makes a purchase on your site, that customer’s data, including shipping data, reaches the supplier who is in charge of delivering the product.

The best thing about this digital business model is that you do not need to have stock, so you will not need a warehouse in which to store the products. You only need an eCommerce store.

However, the disadvantage is that the commissions are usually not high and that you are the one who must answer for the quality of the product. Remember that the customer does not know that you are dropshipping.

Important: although they sell it to you as a passive business, it is NOT. It requires a lot of work and involvement.

Sale of advertising space

Your website can be your digital business if you choose to display paid advertising on it. That is advertisements from other brands or companies.

The best-known example of this is Google AdSense, a platform that allows you to include ads on your website and in exchange you receive money for the number of times people saw that ad or for the number of clicks.

The key to making money with AdSense and other similar platforms is to have a lot of web traffic, because the more people see the ad, the better it will be for you.

If you want to look for a more profitable option in which you yourself establish what you will earn per ad, you can sell advertising space on your website without intermediaries. This means that you yourself must search for those interested in showing ads on your page.

Of course, this is not entirely simple and it does not work for all sites, requiring a quality website with many visits. Only then will you be attractive to potential advertisers.

Selling affiliate products

Affiliate marketing continues to gain ground among the most profitable online businesses.

Basically, it consists of putting links or ads about a certain product on your website and when someone makes a purchase through your link, you will receive a commission.

Even if the customer follows the link from your website, they will make the purchase entirely in the store or site that sells the product. So you will have nothing to do with processing payments, shipments or returns.

Therefore, the company behind the affiliate program will be in charge of charging the client and will then pay your user panel the corresponding commission. Finally, you can withdraw the money you have accumulated using one of the available methods.

For affiliate marketing you only need a website on which to place your ads, although some platforms also allow you to do so on social networks.

The most well-known affiliate program is Amazon, which has millions of products that you can promote. Although there are others like Ebay and AliExpress.

Marketplace of products or services

Marketplaces are platforms that bring together a large number of suppliers or sellers in one place.

Although Amazon is the most famous of all, there are other simpler options, for example, comparators, which are those sites in which several companies or products are presented, for example, insurance and an affiliate link is used with which you receive a commission as the owner of the Marketplace or comparison site.

Marketing-based business models

Let’s now move on to those cases in which you yourself offer your products or services, that is, you market with them.

Sale of physical products

Having an online store is one of the best digital businesses today and in it you can offer products that you buy from a supplier or that you manufacture yourself.

Simply put together a catalog with all the products you have available and show it to your customers. In this business, the profits will go directly to you.

To create an online store you must also establish payment methods, manage shipments and establish return policies.

You can use CMS like Shopify, PrestaShop or the WordPress + WooCommerce combination. These tools make it easier to create the store and manage it.

If you only have one product for sale, it is not strictly necessary that you have an online store, but your blog or website can serve to offer it to the public.

On the other hand, if you already have a physical store, an eCommerce can complement it perfectly, opening the way to a new audience.

Sale of infoproducts

An info product is nothing more than a digital product, for example, an ebook, a video, an audio, a WordPress template, or a presentation, among others.

This type of profitable digital business turns out to be economical, since the product is completely electronic, it also has in its favor the fact that you can sell it as many times as you want, there are no limits unless you want to sell a specific amount.

To be successful with an info product you must first choose what type you will use, then create a website or landing page where you will offer it and of course, advertise it so that buyers can reach it.

Buy sale website

Although it is not one of the most used digital business models, it is one of those that can generate higher income in less time. It is also known as a business based on creating niche pages.

It consists of making a website or buying it, creating content, optimizing it, making it grow, having many visits and putting it up for sale.

It is necessary that behind the page that is going to be sold, there are good metrics, for example, an acceptable number of visits and that it is generating income.

To establish the price of a website you have to know how much it generates monthly and multiply that amount by 20 or 30. Therefore, if your website generates $200 per month, you can sell it for $4,000.

This is a conservative figure if we think that for a website with better results, you can earn income of 5 figures or more.

Of course, this requires effort and dedication to create a quality website with a lot of traffic.

Purchase and sale of domains

Unlike the previous one, in this business it is not necessary to create a very elaborate website, get traffic or generate income, since you are not selling the site but the domain.

To do this, you can buy a domain (approximately $12) and create a static page where you indicate that it is for sale. Also, you can offer it on pages where domains are sold.

Of course, not just any domain will give you results, it must be one that is attractive to brands, so that they want to buy it.

Once you sell it, all you have to do is transfer it to the buyer.

Discount coupon websites

On discount coupon websites, offers for various products and services, both digital and physical, are made available to users.

You can create one of these pages or launch coupons to sell more in your store.

Auction websites

That item that you no longer use can be put up for auction on pages like eBay. Simply upload photos of the product, a description, set a starting price, increment of bids and the end date of the auction.

From that moment, the bids will begin to arrive and when the auction ends you will receive the money and deliver the product.

Investment-based business models

For the most risky, there are business models based on investment. The most profitable are these:

Invest in the stock market (shares)

We must clarify something: investing in the stock market is not for everyone and it is a business model that is as profitable as it is risky. Therefore, we advise you to be careful before buying shares.

By investing in stocks you can generate money from their dividends. Furthermore, these tend to revalue over time.

Invest in the stock market (futures and options)

As in the previous point, it is essential to be informed or receive training to learn how to invest in futures and options.

In the case of futures, it consists of agreeing to trade shares on a fixed date (future) at a certain price. So when the date arrives you make the payment corresponding to the previously agreed price.

For their part, options also imply a prior deal in the future, but the buyer can decide when the set date arrives, whether to finalize the purchase or not.

Invest in cryptocurrencies

Cryptocurrencies are revolutionizing the world and more and more people are deciding to invest in them.

The advantage of these is that they do not depend on governments or banks and are not affected by inflation. However, the value of cryptocurrencies is volatile, it can go up today and down tomorrow. Therefore, the recommendation is to buy when the price is low and sell when it rises.

Crowdfunding

If you have an idea in mind, but do not have the necessary capital to start it, crowdfunding is the business alternative for you.

Basically it is a fundraising. In this case, you make your idea known on one of the online platforms and people who want to support you will make donations so that your project can become a reality.

Business models based on the provision of services

Offering your services on the internet is another of the online business models that can give you better results. Let’s look at some ways to do it.

Sale of professional services

If you have a career or do a job, you can offer your services on your website or an employment platform.

This business model is very good for programmers, translators, designers and in general for anyone who can market their services on the web.

If you choose to do it on your own page, it is recommended that you create a Services section where you explain what you do and what differentiates you from the competition.

Subscription to a SAAS (Software as a Service)

SaaS is the acronym for Software as a Service. This model is based on creating programs in the cloud, hence they do not require downloading and installation, in addition, they can be accessed from anywhere in the world just by having an Internet connection.

Generally, this type of software is offered to the customer by paying a monthly or annual subscription that determines the functionalities to which they have access. If you create such a program, you will earn every time a customer decides to subscribe.

Mentoring and online training

If you have knowledge in any area or topic, you can offer a completely online mentoring and training service.

The idea is to share what you know with another person and help them go from a beginning point to an advanced one.

You can record classes in audio and video, as well as do live broadcasts to allow real-time interaction. Also, don’t forget to provide support by all the means you promise.