Which online business idea should I do?
Question by Mike: Which online business idea should I do?
Im 13. I want to start an online business over the summer. I want to make six or more figures a year. That might sound crazy since im only 13, but it is my goal. I have money to start the business, and my grandparents might invest. Coding will be done by my cousin who is at RIT for web design and programming, or I could hire a web design firm, or hire someone from Elance. I have a few ideas, but Im not sure which one I should do. Which one is the most profitable?
1. A website where users can submit original songs and other users can listen, rate, comment, share, and chat. Users can also create a profile page and keep track of there favorite music, find new band members in the band member finder, and post info. I would make money by selling ad space, and I could make money by creating a pro membership level if the site becomes big enough. I would either hire a web design firm (although i think it could cost $ 100,000, in that case, i wont hire a web design firm), a coder from elance for a good price, or have my cousin code it. I love this idea, and it doesnt have that much competition other than purevolume.com.
2. I would sell musical instruments (bass, guitars, drums, dj and lighting, vocals, keyboards) on my website. i would buy them wholesale and sell them for a bigger price. I would then have the wholesaler dropship to the customer. There is a lot of competition, though. Try Sam Ash or Guitar Center or musiciansfriend.com.
3. A job search website. This could be a site where the employers post wanted ads and people can apply for each job. I would charge the employer a comission to post the ad.
4. A online backup website. This is where customers can back up important data such as files, photos, music, etc. to a sever. I would purchase www.remote-backup.com’s virtual hosting set up for $ 500. it allows you to sell their customizable software to your customers and access the administrative stuff from a central account on their site. So I could have a plan for 5gb of storage and sell it to a customer for $ 25 a month. thats around $ 300 a year from only 1 customer. remote-backup only charges me the once for the $ 500, and charges me $ 1 for every customer i get and then $ .25 for every gb they use. Many people are backing up now, so this could be profitable. Although there is mozy and snapfish and other companies already around.
4. This is a website where people can post and sell and buy websites. Like sitepoint.com although. This could be a good site though since sitepoint does not focus on buying and selling sites although that is one of their services. This could be profitable by either charging a commision and/or selling ad space.
5. This last idea is a little weird. It is a site where one user starts a debate by putting in two sides such as mcdonalds vs burger king. Then other users choose which side they want to be on, and debate. Each comment they make would be on either side mcdonald or burger king depending on what they chose. and they have an argument. This could be useful in many ways. example, if someone wanted to buy something such as a computer, and they were stuck on mac or pc, they could create an argument mac vs pc and have great answers giving reasons why they should buy mac or pc. based on personal preference, the person could decide on mac or pc based on certain comments. This site could also be used for fun reasons to see which of something is better or what not. I would make money from selling ad space. This would be a fun site and i would hire an elance person or my cousin to build the site.
I like a lot of these such as the music sharing site, debate site, backup business, job posting site, but im not sure which one is good.
Could any of these ideas make me six or more figures a year? Which idea is better? Which idea should I do? Which idea is the most profitable?
Thanks.
(even if you dont think any of these are good, which would you choose if you had to?)
Thanks again.
Best answer:
Answer by Ef
I think there all amazing but i think my favorite is the music sharing site. Im 12 and im trying to think of a business to!
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