8 Best Small Business Ideas in Australia That Offer High Returns

8 Best Small Business Ideas in Australia That Offer High Returns

Considering starting your own business? If you want to be successful, one of the most important things you can do is get your business idea right from the beginning. Many people start a business based on an idea they think will make them money only to find out that it’s not actually profitable, or that there’s too much competition in the space already so their business can’t succeed. Instead of finding yourself in this situation, take the time to choose one of these 8 best small business ideas in Australia that offer high returns and stand out from the crowd in your industry or niche.

1) Being a Virtual Assistant
If you have strong administrative or organisation skills, then becoming a virtual assistant (VA) is a great small business idea for you. VAs provide remote support to businesses and entrepreneurs by handling tasks such as customer service, bookkeeping, social media management, appointment setting, and event planning. As a VA, you’ll be working remotely from home and will get paid on an hourly basis for the hours that you work.
A VA typically needs little upfront investment because many of the tools needed are easily accessible online.

2) Online Consulting
If you have experience in a particular field, you can start an online consulting business and offer your services to clients from all over the world. All you need is a computer and an internet connection. You can also reach out to other entrepreneurs with similar experiences to see if they want to form a team of consultants.
Your fee will depend on what you charge for your service, but it could be anywhere between $50-$200 per hour. You’ll find that many potential clients will be more than willing to pay for this convenience since they don’t have the time or expertise required for their project.
If there’s one small business idea on this list that has high returns, it’s Online Consulting!

3) Ecommerce Dropshipping
Ecommerce dropshipping is a great business idea for those looking to set up their own business with little upfront investment. Dropshipping allows you to sell products online without having to carry any inventory, which means you can start your business with very little capital. Plus, there are plenty of ecommerce platforms and suppliers available to help you get started. Shopify and WooCommerce both offer easy-to-use templates that enable you to create an attractive website without any coding knowledge. And, by integrating your store with a variety of ecommerce marketplaces like Amazon or eBay, you’ll be able to reach more customers who might not have heard about your brand before.

4) Affiliate Marketing
For those not familiar with affiliate marketing, it’s simply referral marketing where you earn a commission. Let’s say that you have a website and refer a book on Amazon. If someone clicks your link and buys the book, Amazon will give you a cut of the sale. The best part is that this can happen again and again because once someone purchases something through your referral, they receive an email every time there is another purchase from them. It might seem like an oversimplified idea but it’s something to consider if you are looking for a high-yield business idea.

5) Online Training / Digital Courses

  1. If you have a passion or skill that you can share, why not start an online course teaching others? You can create digital courses on practically any topic, from cooking to gardening to business. 2. Not only is this a great way to make some extra income, but you’ll also be able to reach a wider audience than you would if you were teaching in-person classes. 3. The best part about creating and selling your own digital course is that you don’t need any previous experience or qualifications – anyone can do it! 4. However, there are lots of other platforms for people to find courses too so it’s important to set yourself apart by providing valuable content. 5. Once you’ve built up a following, then the sky’s the limit – it could lead to book deals and TV appearances!

6) Selling Crafts on Etsy
If you’re creative and enjoy making things by hand, then opening an Etsy shop is a great way to turn your hobby into a business. You’ll need to create and list products, manage orders and shipping, and deal with customer service issues. But it’s a great way to earn a living doing something you love. Keep in mind that this idea won’t work if you can’t produce at least 10 items per month.
In addition, the market for handmade goods tends to be quite saturated on Etsy so it may be hard to get noticed. And remember that as the seller, you have to ship the product yourself.
But if this idea intrigues you and seems like a good fit for your skillset, check out this guide from Entrepreneur Magazine on how to make money selling crafts on Etsy.

7) Selling Handmade Jewelry On Etsy
If you’re a creative person with a knack for making beautiful jewelry, then selling handmade jewelry on Etsy is a great business idea for you. Not only can you make good money from selling your creations, but you’ll also get to be your own boss and work from home. The downside of this business model is that it’s going to take some time before you start earning anything substantial. In addition, there are some startup costs like buying materials like beads and wire as well as getting photos taken of your products. The more popular the item is, the more expensive it will be because these items will require faster shipping times.

8) Start A Yoga Teacher Training School Or Studio
In recent years, yoga has become increasingly popular in Australia. As a result, there is a growing demand for yoga teachers. If you have a passion for yoga and want to start your own business, then opening a yoga teacher training school or studio could be a great option for you. Here are some things to keep in mind if you’re thinking about starting this type of business:

  1. Location is key. You’ll need to do plenty of research on the local population demographics and determine where your target audience will most likely live. 2. Yoga studios can range in size from small and intimate with around five students per class, up to large studios with over 100 students per class. 3. You’ll need the funds to open a successful yoga studio on the lower end of the spectrum; if you plan on running a larger operation, you’ll need more money up front. 4.

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