The Best Dropshipping Products for Your Online Store in 2023

The Best Dropshipping Products for Your Online Store in 2023

[ad_1]

Every online store owner wants to sell more. But to succeed, it’s important to know which products resonate the most with customers. This are article takes a closer look at some of the best dropshipping products for you to sell this year.

What is Dropshipping?

First, let’s understand what dropshipping means. Dropshipping refers to an e-commerce model allowing retailers to purchase products from wholesalers who then ship them to the customers. Retailers don’t maintain a product inventory and get paid directly by the buyer.

In recent years, dropshipping has gained momentum mainly because business owners have the freedom to sell products without a lot of overhead. Moreover, it lets them prevent getting stuck with inventory that will not sell.

Unlike traditional retail business models, retailers in this dropshipping products model outsource all major parts of their supply chain such as product assembly, inventory management and product delivery.

Research Tools for Dropshipping Success

In dropshipping, the key to success often lies in product selection and market analysis. With the right tools at your disposal, you can gain insights into popular products, trending markets, and the demands of your target audience. Here’s an overview of some of the best research tools for dropshipping:

  • Product Database Tools: These tools provide access to a list of trending products across different platforms. They offer insights into products with high purchase rates, helping dropshippers choose the right products for their stores.
  • Keyword Research Tools: These tools analyze popular keywords related to products. By identifying high-demand keywords, dropshippers can optimize their product listings for search engines.
  • Competitor Analysis Tools: By analyzing competitor data, these tools help you understand the competitive landscape, pricing strategies, and top-selling products.
  • Audience Insight Platforms: Understanding your audience is crucial. These platforms offer demographic, geographic, and psychographic data on potential customers.
  • Market Analysis Software: These tools provide insights into market trends, demands, and potential gaps in the market that dropshippers can exploit.

Below is a table summarizing some popular tools in each category:

Category Tool Name Key Feature Price Range Ease of Use
Product Database SaleHoo Curated product lists $$ ?????
Keyword Research Google Keyword Planner Search volume insights Free ?????
Competitor Analysis Compete Traffic & engagement metrics $$$ ?????
Audience Insights Facebook Analytics Demographic data Free ?????
Market Analysis Market Samurai SEO & keyword research $$ ?????
Product Database Oberlo Integrated with Shopify $-$$$ ?????
Competitor Analysis SEMrush SEO & advertising insights $$$ ?????

Choosing the right tools can significantly improve your chances of success in the dropshipping business. Consider your budget, the learning curve, and your specific needs when selecting the best research tools for your venture.

Choosing the Best Dropshipping Products: Our Methodology

Dropshipping has gained immense popularity due to its low upfront investment and flexibility. However, the success of a dropshipping venture heavily depends on product selection. We considered the following factors when creating our list. The importance of each one is rated on a scale of one to ten, with ten being the most important:

  1. Market Demand (Importance Scale: 10/10)
    • Products with a proven market demand.
    • Consider seasonal trends and consumer buying patterns.
  2. Profit Margins (Importance Scale: 9/10)
    • Products with a reasonable markup potential.
    • Balance between affordability for customers and profitability for the business.
  3. Competition (Importance Scale: 8/10)
    • Level of competition for the product in the market.
    • Niche products with less saturation can be more advantageous.
  4. Shipping Costs and Complexity (Importance Scale: 9/10)
    • Products that are cost-effective to ship.
    • Avoid overly bulky or fragile items that complicate shipping.
  5. Supplier Reliability (Importance Scale: 10/10)
    • Trustworthy suppliers with good track records.
    • Consider suppliers’ production capacities and shipping times.
  6. Quality and Consistency (Importance Scale: 9/10)
    • Products that maintain quality standards.
    • Consistency in product quality and availability.
  7. Scalability (Importance Scale: 7/10)
    • Products that allow for business growth.
    • Ability to add complementary products over time.
  8. Legal and Regulatory Compliance (Importance Scale: 8/10)
    • Ensure products comply with legal and regulatory standards in your and your customers’ locations.
  9. Customer Interest and Trends (Importance Scale: 7/10)
    • Alignment with current customer interests and trends.
    • Use of social media and market research to gauge interest.

Armed with these guidelines, we’ve examined a vast array of products in the dropshipping landscape. Our selected list encompasses a mix of evergreen staples and emerging trends, giving you a broad spectrum to choose from based on your target audience and marketing strategy.

The Best Dropshipping Products to Sell in 2023

Now that you have understood the dropshipping business, let’s look at the top dropshipping ideas and different products you should consider selling in 2023.

1. Health and Personal Care

best dropshipping products

When it comes to health and personal care, a key benefit is market demand and repeat purchases. Consumers buy these products frequently, which makes it a profitable category.

Another benefit is the number of options available. From oral care to nutritional supplements, you can offer a whole range of products that consumers demand.

What’s more, the category is growing. The global beauty industry is expected to hit $784.6 billion by 2027. Let’s check some of the best dropshipping products in this category that are worth selling in 2023.

  • Sleep gummies
  • Probiotics
  • Eye drops
  • Protein powders
  • Electronic heat pens
  • Natural deodorant
  • Face serum
  • Hand sanitizer
  • Toothpaste
  • Women’s razors
  • Vegan shampoo
  • Multivitamin capsules

2. Home and Kitchen Products

best dropshipping products

Home and kitchen products gained popularity during the pandemic when people had to stay at home and manage meals. After the pandemic ended and people went back to their normal routines, many experts believed the demand for kitchen products would subside. Interestingly enough, that has not happened yet. Inflation and work-from-home opportunities are some of the key factors for this.

The market for kitchen appliances is predicted to be at around $125.8 billion this year.

Let’s check out some popular home and kitchen products for your dropshipping store in 2023.

  • Kitchen towels
  • Oil sprayer
  • Air fryer
  • Sparkling water maker
  • Indoor composter
  • Portable blender
  • Smart sponge holder
  • Vintage spoons
  • Waffle maker
  • Cake pans
  • Measuring cup
  • Mandoline slicer

3. Fashion and Clothing

best dropshipping products

Fashion is a highly profitable dropshipping business category. This year, the fashion industry is expected to exceed $870 billion, bringing a large amount of profit for businesses.

For a dropshipping business, fashion and clothing is a lucrative niche thanks to high profit margins. That being said, there are several challenges you may have to face when choosing dropshipping products to sell.

For example, if you are trying to target a diverse group of consumers with varied preferences, you will have to stock up on a range of distinctive products. To be able to do so, you are going to have to network with a large number of suppliers. This is a challenge when you are trying to build your business from the ground up.

Here are some fashion and clothing products for your dropshipping store.

  • Tank tops
  • Hoodies
  • Leggings
  • Bike shorts
  • Jumpsuits
  • Tote handbag
  • Crossbody bags
  • Scrunchies
  • Platform boots
  • Rain boots
  • Rompers
  • Swimsuit coverups

4. Electronics and Accessories

best dropshipping products

Thanks to the internet, most consumers today make their electronics purchases online.

In addition to the convenience factor, consumers enjoy the benefits of great deals and a variety of options. It, therefore, doesn’t come as a surprise that revenue in the electronics market amounts to $155 billion in 2023.

Another great thing about this niche is the variety of products in different price ranges available to the consumers. From high-ticket items to cheap devices, there’s something for everyone. And this makes it more popular than the other niches where such variety seldom exists.

To be able to make a decent profit, however, you must have some product knowledge and a reliable network of dropshipping suppliers who can meet customer expectations on time.

Here are some of the best dropshipping products in this category.

  • Smartwatches
  • Mini photo printers
  • Noise-canceling headphones
  • Portable Bluetooth speakers
  • WiFi routers
  • Airpod cases
  • Wireless video doorbells
  • Wireless controllers
  • Webcam
  • iPhone case
  • Wireless mouse
  • Mini wifi projectors

5. Pet Supplies

best dropshipping products

Did you know the global market for pet supplies is around $261 billion? It goes without saying, the pet supplies segment is a highly lucrative niche that has been growing steadily over the years. In the US alone, pet owners are expected to spend about $110 billion on pet products this year.

During the pandemic, a large number of consumers got themselves pets. Pet adoption since that time has been on the rise, leading to high market demand.

Let’s look at some of the best dropshipping products in this category.

  • Pet pillows
  • Dog treats
  • Rope toys
  • Cat food
  • Cat litter
  • Training pads
  • Litter scoops
  • Orthopedic dog mats
  • Dog coats
  • Grooming tools
  • Waste cat pans
  • Reusable pee pads

6. Beauty Products and Cosmetics

best dropshipping products

One of the most profitable dropshipping niches for repeat purchases is beauty products and cosmetics.

A quick look at Google Trends will tell you this niche sees stable demand across demographics, meaning there’s lots of consumer interest in these trends. This is substantiated by the fact that the beauty products and cosmetics market is pegged at $92.79 billion this year in the United States.

While there are plenty of opportunities to succeed in this niche, you must also be careful when dealing with certain types of products. Pay special attention to allergies, restrictions and safety to make sure you comply with regulations. Otherwise, you may run into several challenges later.

Let’s now look at some of the best-selling dropshipping products under the beauty and cosmetic segment.

  • Loofahs
  • Cotton balls
  • Mint flossers
  • Detangler hair brush
  • Volcanic roller
  • False nails
  • Makeup mirror
  • Faux fur hair scrunchies
  • Hair dryer
  • Exfoliating gloves
  • Shower caps
  • Body scrubs

7. Baby Products

best dropshipping products

No matter what time of the year, you can expect baby products to be in demand. According to statistics, the baby product market is expected to exceed $172 billion in the US by 2032. Another key characteristic of this segment is that the products under it are all essential items, with many quality items available from reliable suppliers. In other words, consumers will pay for the right products all through the year.

Given that baby products are bought as both essential and gifting options, a number of players are currently serving this market. It is therefore, an extremely competitive industry. As a retailer, you have the additional responsibility of making sure the products you are selling are compliant with regulations and are safe for babies. In many cases, you’ll be required to have the right certificates in place.

Here are some popular baby products for your dropshipping business.

  • Convertible car seat
  • Baby wipes
  • Nighttime underwear
  • Baby food pouch
  • Nursery blankets
  • Baby monitor
  • Baby bodysuits
  • Baby carrier
  • Bath toys
  • Pacifiers
  • Teether sets
  • Brush and comb set

8. Sports and Outdoor Equipment

best dropshipping products

With the pandemic behind us, a large number of people are starting to enjoy outdoor activities and sports.

In the ecommerce space, sports and outdoor equipment is a highly profitable niche. Data and Google Trends reveal the sports and outdoor industry is expected to hit approximately $119.1 billion by 2027. For a dropshipping store owner, this segment therefore provides a host of lucrative opportunities to grow business.

Let’s take a quick look at some of the best dropshipping products under this category.

  • Dome tent
  • Backpack cooler
  • Hoverboards
  • Swim goggles
  • Inflatable water slide
  • Potable chairs
  • Jump ropes
  • Chaise lounge
  • Water bottles
  • Skateboards
  • Pickleball paddle
  • Mountain bikes

9. Jewelry and Accessories

best dropshipping products

Google trends shows the jewelry and accessories segment is one of the most popular niches for dropshipping businesses. By 2027, the global ecommerce jewelry market is expected to reach $60 billion. From a dropshipping business perspective, this segment makes a lot of sense because the startup costs are low and there are greater opportunities to sell a wide variety of products. Not surprisingly, a number of businesses are entering the fray to make the most of this growing demand.

Let’s look at some of the best dropshipping products in this category.

  • Jewelry organizer
  • Precious jewelry cleaner
  • Silver duster
  • Hair clip set
  • Stud earrings
  • Multi strand bracelets
  • Chain layered necklace
  • Charm bracelets
  • Beaded chain anklets
  • Choker necklace sets
  • Pearl hoop earrings
  • Hair barrettes

10. Office Supplies and Stationery

best dropshipping products

Most businesses have now adopted the hybrid work model, which means more and more employees are coming back to offices.

Currently, pegged at $2 billion, the office supplies and stationery segment is a profitable niche for dropshipping stores. It allows businesses to sell a host of products – from calculators and notebooks to paper clips and staplers. Another key benefit is repeat purchases.

Moreover, you can start small and set up your business with minimal risk.

Let’s take a look at some of the best dropshipping products in the office supplies and stationery segment.

  • Glue sticks
  • Permanent markers
  • Binders
  • Paper tray with drawers
  • Monitor riser
  • Desktop calendar
  • Letter file box
  • Bulletin board
  • Index cards
  • Scissors
  • Magnetic board eraser
  • Sticky notes

11. Automotive Accessories

best dropshipping products

The automotive accessories segment is currently pegged at $58 billion, growing steadily every year. Given the numbers and ease of setting up a business in this space, a number of dropshippers are selling automotive accessories at the moment.

  • Backseat organizer
  • Headrest hook
  • Insulated cup holder
  • Seat cushion
  • Car cleaning gel
  • Windshield cleaner
  • Bike racks
  • Bumper protector
  • Portable ramp
  • Front view camera
  • Car charger
  • Foldable car trash can

12. Hobby and Craft Supplies

best dropshipping products

By 2024, the crafts market worldwide is expected to hit $50.9 billion. According to Google trends, consumers are looking for a variety of hobby and craft supplies, which makes it more lucrative for a small business owner.

Let’s take a look at some of the best dropshipping products in this category.

  • Embroidery machine
  • Cross stitch kit
  • Crochet hook set
  • Chunky yarn
  • Paintbrush set
  • Rubbing plates
  • Quilting safety pins
  • Storage caddy tote
  • Sewing ruler
  • Embroidery floss pack
  • Felt set
  • Sewing thimbles
Category Market Value (Estimated) Top 3 Dropshipping Products Key Benefits Challenges
Health and Personal Care $784.6 billion (by 2027) Sleep gummies, Probiotics, Eye drops Repeat purchases, Product variety Regulation compliance
Home and Kitchen Products $125.8 billion (2023) Kitchen towels, Oil sprayer, Air fryer Steady demand post-pandemic Market saturation
Fashion and Clothing $870 billion (2023) Tank tops, Hoodies, Leggings High profitability, Consumer demand Varied preferences, Supplier networking
Electronics and Accessories $155 billion (2023) Smart watches, Mini photo printers, Noise cancelling headphones Product variety, Price range variety Product knowledge, Supplier reliability
Pet Supplies $261 billion Pet pillows, Dog treats, Rope toys Rising pet adoption, Repeat purchases Meeting pet-specific needs
Beauty Products and Cosmetics $92.79 billion (US, 2023) Loofahs, Cotton balls, Mint flossers Repeat purchases, Stable demand across demographics Allergy and safety regulations
Baby Products $172 billion (by 2032) Convertible car seat, Baby wipes, Nighttime underwear Year-round demand, Essential items Safety regulations, High competition
Sports and Outdoor Equipment $119.1 billion (by 2027) Dome tent, Backpack cooler, Hoverboards Post-pandemic rise in outdoor activities Seasonal variations
Jewelry and Accessories $60 billion (by 2027) Jewelry organizer, Precious jewelry cleaner, Silver duster Low startup costs, Wide product variety High competition
Office Supplies and Stationery $2 billion Glue sticks, Permanent markers, Binders Repeat purchases, Rise in hybrid work model Seasonal sales cycles
Automotive Accessories $58 billion Backseat organizer, Headrest hook, Insulated cup holder Growing market Specific car model variations
Hobby and Craft Supplies $50.9 billion (by 2024) Embroidery machine, Cross stitch kit, Crochet hook set Rising consumer interest, Product variety Keeping up with craft trends

How to Find Trending Dropshipping Products

To be able to sell the best dropshipping products, you need to know what’s popular with your target audience. Luckily, you can count on a few tools to make life easier.

Using Google Trends for to Find Trending Dropshipping Niches

A great place to start your product research for trending dropshipping products is Google Trends. You can use it to search for topics and queries. You can use it to search by country and to compare different queries.

Simply go to Google Trends and use keywords relevant to your business. The search volume on the keywords will help you understand how many people are looking for the specific product online. The most searched keywords will provide useful information for your niche.

You should also use Google Trends to take a closer look at competition. Ideally, you should check items with high demand and low competition to gain a better market share.

With Google Trends, you will be able to create an effective merchandizing strategy to leverage seasonal trends and boost sales during specific seasons such as Christmas and New Years.

Using Amazon to Find Top Trending Dropshipping Products to Sell

Like Google Trends, Amazon too offers assistance to help you select the right dropshipping products to sell. Its Best Sellers page features items that have the highest number of sales in a specific category. You can use this information to stock the more popular products.

You can also use customer reviews in your product research to identify items that are most popular with your audience.

Building a Successful Dropshipping Business

Building a successful dropshipping business requires meticulous planning, agility to adapt to market changes, and an unwavering focus on customer experience. Here’s a guide on how to start dropshipping and build a successful venture:

  1. Research and Understand the Market:
    • Comprehensive Analysis: Understand the market dynamics, competition, and potential risks before diving in. You can also compare various services and providers like Shopify dropshipping or even invest in a dropshipping course.
    • Consumer Trends: Keep a tab on emerging trends. This not only includes product trends but also purchasing behaviors and preferences.
    • Target Audience: Identify and understand your target demographic. This will help in tailoring your marketing efforts and product selection.
  2. Niche Selection:
    • Value Proposition: Explore the best dropshipping niches and select one that aligns with your brand’s value proposition and has sufficient demand.
    • Market Gap Identification: Look for gaps in the market where consumer needs are not being met or where you can offer a unique value proposition.
  3. Identify Profitable Products:
    • Differentiation: Opt for products that are not overly saturated in the market. Differentiating your product lineup can provide a competitive edge.
    • Cost Management: Choose products that do not inflate overhead costs. Remember, dropshipping often has thinner margins, so it’s crucial to manage costs effectively.
    • Supplier Relations:
      • Reliability: Ensure that your suppliers are reliable and can deliver products in a timely manner.
      • Quality Check: Regularly evaluate product quality. Low-quality products can hurt your brand reputation.
  4. Market Your Business:
    • Search Engine Marketing (SEM): Utilize paid advertising on search engines to increase visibility.
    • Search Engine Optimization (SEO): Ensure your website is optimized for search engines. This will improve organic search visibility and drive free traffic to your store.
    • Social Media: Use platforms like Instagram, Facebook, and Pinterest to showcase products and engage with potential customers.
    • Email Marketing: Engage your audience through regular newsletters, product updates, and promotional offers.
  5. Provide Stellar Customer Service:
    • Efficient Communication: Always be available to address customer queries. Efficient communication builds trust.
    • Returns and Refunds: Have a clear policy in place. An easy return and refund process can enhance customer trust and loyalty.
    • Feedback Loop: Regularly collect feedback and use it to refine your product offerings and services.
  6. Encourage Repeat Purchases:
    • Loyalty Programs: Implement loyalty programs or reward systems to encourage repeat purchases.
    • Exclusive Offers: Give exclusive offers or discounts to returning customers.
    • Engaging Content: Regularly update your store with engaging content, blogs, or product information to keep your audience engaged and coming back.

While the dropshipping model can be lucrative, it requires diligent effort in market research, relationship management, and customer service. Continuous learning, adapting to changing trends, and a focus on building long-term customer relationships will be key drivers in ensuring the success of your dropshipping business.

 

FAQs

What are dropshipping products?

Drop shipping products refer to items that retailers sell directly to customers without physically stocking them. Instead, they purchase the product from a third party (often a wholesaler or manufacturer) who ships it directly to the customer.

Why should I consider selling dropshipping products?

Selling dropshipping products reduces the need for inventory investment and warehouse space. Retailers can offer a wider variety of products without the risk of unsold stock, which can lead to increased revenue opportunities.

How do I identify the best dropshipping products to sell?

The best dropshipping products often have a balance between demand and competition. Utilize market research tools, understand current trends, consider seasonality, and look for products with a good profit margin.

Are there any risks associated with selling dropshipping products?

Yes, like any business model, dropshipping has its risks. These include reliance on third-party stock, less control over shipping speed and stock levels, and potentially slimmer profit margins due to competition.

What are the best niches for dropshipping in 2023?

The best niches often change based on market demand. However, eco-friendly products, tech gadgets, health and wellness items, and home improvement tools are currently trending.

How do I find reliable suppliers for my dropshipping products?

Researching and vetting suppliers is crucial. Consider attending trade shows, utilizing drop shipping platforms like Oberlo or SaleHoo, and always ask for references or reviews.

How can I ensure customer satisfaction when I don’t handle the shipping process?

Open communication is key. Ensure the supplier provides tracking numbers, be transparent with shipping times, and address customer concerns promptly. A good return and refund policy also helps build trust.

Image: Envato Elements




[ad_2]

Source link

Don’t Miss Small Business Expo in Miami

Don’t Miss Small Business Expo in Miami

[ad_1]

The Miami Small Business Expo 2024 is a premier business-to-business trade show and educational event designed exclusively for entrepreneurs, startups, and small business owners. It will take place on March 14, 2024, from 10:00 AM to 5:00 PM EST at the Miami Airport Convention Center.

Here are some of the key features of the Miami Small Business Expo 2024:

  • Exhibitors: Over 300 exhibitors will showcase their products and services, providing you with the opportunity to network with potential partners and suppliers.
  • Seminars and workshops: Learn from industry experts and gain valuable insights on a variety of topics, such as marketing, finance, business growth, and more.
  • Networking opportunities: Connect with fellow business owners and entrepreneurs to build relationships and share ideas.
  • Speed networking: Get face-to-face with dozens of potential customers and business partners in a short amount of time.
  • Live panel debates: Hear from business leaders and experts as they discuss the latest trends and challenges in the small business world.

Click the red button and register now.

Register Now



Featured Events, Contests and Awards

Miami Small Business Expo 2024Miami Small Business Expo 2024
March 14, 2024, Miami, Florida

Small Business Expo is Miami’s BIGGEST business networking & educational event for Small Business Owners & Entrepreneurs. Come join other passionate Miami Business Owners and learn how to increase revenue & grow your business.


Reuters Events: Strategic Marketing West 2024Reuters Events: Strategic Marketing West 2024
May 08, 2024, Universal City, California

With a 16-year legacy, Reuters Events: Strategic Marketing West 2024 unites 250+ senior marketing leaders to master data-driven creativity: effectively manage data to capture customer insight, evolve culture alongside consumer trends, and harness cutting-edge technology to its fullest potential.


More Events

More Contests

This weekly listing of small business events, contests and awards is provided as a community service by Small Business Trends.

You can see a full list of events, contest and award listings or post your own events by visiting the Small Business Events Calendar.

Image: Thesmallbusinessexpo




[ad_2]

Source link

Apple Reveals Top Podcasts of 2023

[ad_1]

Apple Podcasts has unveiled its list of the most popular podcasts of 2023. These year-end charts, localized for listeners in nearly 100 countries and regions, present a fascinating glimpse into the varied interests and preferences of podcast audiences globally.

The Top Shows of 2023

The list of top shows features a mix of genres and topics, reflecting the diverse tastes of podcast listeners. Leading the pack in the U.S. are:

  1. Crime Junkie: A staple for true crime enthusiasts.
  2. The Daily: Offering daily news insights from The New York Times.
  3. Dateline NBC: Another hit for true crime fans.
  4. SmartLess: A blend of humor and celebrity interviews.
  5. This American Life: A journalistic non-fiction show that tells fascinating stories.

Other notable mentions include Morbid, Up First, Huberman Lab, Hidden Brain, and Stuff You Should Know.

Standout New Shows of 2023

New podcasts that debuted this year also grabbed listeners’ attention. Top new shows include Scamanda, The Retrievals, and The Deck Investigates, among others, showcasing a strong interest in investigative and narrative storytelling.

Most Followed and Most Shared

In terms of engagement, Huberman Lab and SmartLess emerged as some of the most followed shows. When it comes to sharing, Scamanda and Sold a Story lead the way, indicating their impact and resonance with listeners.

Curated Collections and Anticipation for Show of the Year

Listeners in over 15 markets have access to “Shows We Love,” a curated collection of standout series. Additionally, Apple Podcasts is set to reveal the Show of the Year on December 5, further highlighting the best in podcasting for 2023.

The Top Channels

The top free channels list includes familiar names like iHeartPodcasts, audiochuck, and The New York Times, while top subscriber channels feature Wondery, Dateline NBC, and Pushkin.

Apple Podcasts’ 2023 charts offer a comprehensive look at what’s resonating with listeners, from gripping true crime stories to in-depth interviews and insightful news coverage. As podcasts continue to grow in popularity, these charts not only celebrate the creators but also guide listeners towards new and exciting content.

Image: Apple




[ad_2]

Source link

What Business Expenses Are Worthwhile? Entrepreneurial Experts Share Tips

What Business Expenses Are Worthwhile? Entrepreneurial Experts Share Tips

[ad_1]

If you buy something through our links, we may earn money from our affiliate partners. Learn more.

Running a small business can be expensive. But if you dedicate your resources to the right expenses, those investments can pay off and ultimately help you earn more revenue. So, how can you tell what costs are worthwhile? Check out some recent insights from members of the online small business community below.

Learn All About Franchise Royalties

When buying into a franchise model, royalties are usually part of the deal. While franchisees generally don’t like paying these fees, they do serve an important purpose in many systems. Joel Libava dives into the concept in this post on The Franchise King blog.

svg%3E

Get a Startup Business Loan

A business loan can help a new business make valuable investments to get their idea off the ground. But it’s not always easy to get an influx of cash with no credit history. Learn more in this Ideamotive post by Kamil Osiecki.

Choose the Right Paid Media Agency for Your Business

If you’re investing your business’s hard-earned money into paid media, you want to be sure you’re trusting the right people. Agencies can be incredibly helpful in navigating the paid media options and building campaigns. But how do you know you’re choosing the right one? Check out this Noobpreneur post by Ivan Widjaya for tips.

Check Out These Black Friday and Cyber Monday Deals for Entrepreneurs

Black Friday and Cyber Monday aren’t just for buying gifts. For entrepreneurs, these holidays can provide an ideal opportunity to save money on large purchases. Read about some upcoming deals in this 99signals post by Sandeep Mallya. Then head over to BizSugar to see what members are saying.

Consider Starting a Freelance Business

Freelancing can be an ideal business opportunity or an extra source of income for existing entrepreneurs. But there are many factors that go into starting this type of venture. Nellie Akalp of CorpNet details several important steps here.

Find the Best Ecommerce Platforms for Beginners

Starting an ecommerce shop can open tons of new revenue opportunities for businesses. But choosing the right platform is paramount. If you’re just getting started, read this Blogging Wizard post by Adam Connell for a full list of options for beginners.

Consider the Cost of Mobile App Development

There’s no doubt that mobile app development can transform a business. But there are costs involved. Before making the investment, it helps to understand the types of expenses and what they cover. In this Decipher Zone post, Mahipal Nehra shares a guide for businesses.

Learn How to Form an LLC

Selecting a business structure is one of the most important early decisions for any entrepreneur. LLCs offer plenty of protections and financial benefits, but there may also be expenses involved. To understand the details, read this Crowdspring guide by Ross Kimbarovsky.

Use These Tips to Optimize Amazon Campaigns

Paid campaigns on Amazon can provide a great way to boost sales. To truly optimize your investment, it’s important to understand metrics like average cost of sales. In this Noogata post, Jaron Seijffers dives into the concept and provides helpful insights.

Patent Your Mobile App Idea

If you have an idea for a new mobile app, you may need to patent it to protect yourself. So how can you take the steps needed to claim this idea? See the guide in this MindInventory post by Vivek Zala.

If you’d like to suggest your favorite small business content to be considered for an upcoming community roundup, please send your news tips to: sbtips@gmail.com.

Image: Envato Elements




[ad_2]

Source link

Verizon Digital Ready Program Offers $10,000 Grants to Small Businesses

Verizon Digital Ready Program Offers $10,000 Grants to Small Businesses

[ad_1]

Small business grants can provide hugely valuable resources to small businesses. However, the extra influx of cash can only have a major impact if entrepreneurs use funds wisely. Luckily, many small business grant programs also provide educational resources like courses and mentorship to help entrepreneurs through this part of their journey. Learn more about some recent programs offering grant funding and educational resources to small businesses.

Verizon Digital Ready Grants

The Verizon Small Business Digital Ready Program offers $10,000 grants to small businesses. Recently, Houston area entrepreneur Diedre Mathis received a surprise $10,000 grant from the program to support her business, the Wanderstay Houston Hostel. She is one of many entrepreneurs that has benefitted from the Verizon Small Business Digital Ready Program in recent years. In addition to grant funding, the program offers free courses, mentorship, and networking opportunities. Small businesses have until December 20, 2023, to apply for the current grant cycle. To qualify for a chance to win a $10,000 grant, participants need to complete two modules in any combination – courses, coaching sessions, or community events. This step makes them eligible for grant consideration.

grant program for small business

Women Business Center of Fayetteville Verizon Digital Ready Partnership

The Women Business Center of Fayetteville (WBCFAY) Program, operated by the Center for Empowerment and Economic Development (CEED), is teaming up with Verizon’s Small Business Digital Ready program to offer a unique chance for small businesses. This collaboration brings $10,000 grants and an online learning platform to small business owners. Key features of this program are:

  • Open and Free Registration: Any small business is welcome to sign up without any cost or need to engage with Verizon services.
  • On-Demand Learning: The program provides materials that users can access whenever they want, allowing them to learn at a pace that suits them best.
  • Tailored Experience: Business owners have the flexibility to customize the program according to their specific requirements, making it easier to adapt to changing interests and challenges.

State College Small Business Grant Program

The Downtown State College Improvement District in State College, Pennsylvania recently unveiled a fresh grant initiative, designed to assist small business owners and property managers with various capital enhancements. Set to begin in early 2024, this initiative focuses on facade and internal refurbishments, playing a key role in the rejuvenation of the downtown area. Through the Small Business Grant Program, eligible downtown participants will have access to grants between $1,000 and $5,000. Recipients of these grants will need to provide a matching amount as well.

Southeast Queens Entrepreneur Grant Program

Southeast Queens small businesses currently have the chance to secure a grant from the Greater Jamaica Development Corporation. This $2,500 grant is part of the Southeast Queens Entrepreneur Grant Program, designed to support BIPOC-owned businesses. Eligible businesses can access up to $2,500 in grant funding to assist with operational expenses. To qualify, businesses should be operational for at least one year, for-profit, have no more than ten employees, and report annual gross receipts ranging from $50,000 to $500,000. The grant is available to businesses in various neighborhoods, including Bellaire, Brookville, Cambria Heights, Hollis, Hollis Hills, Holliswood, Jamaica, Jamaica Estates, Jamaica Hills, South Jamaica, Rochdale Village (Cooperative Housing Development), St. Albans, Laurelton, Queens Village, Rosedale, Meadowmere, and Warnerville.

Aurora Small Business Equity Fund

Business owners in Aurora, Colorado who are interested in enhancing their eco-friendly practices have an opportunity to apply for a new small business grant program to help. The Small Business Equity Fund, initiated by the Colorado Green Business Network in 2022, is being offered by the Colorado Department of Public Health and Environment. This initiative aims to assist small businesses in Aurora and Commerce City with energy-efficient upgrades. The fund provides a range of upgrades, such as LED lighting installation and up to 70 percent cost coverage for replacing refrigeration equipment, with a maximum of $10,000 per business. The evaluation of applications by officials is slated to commence in January.

Oneonta Community Development Block Grant

Oneonta, New York is seeking $200,000 from a state fund to provide microenterprise grants for small businesses. This effort would mark the city’s eighth receipt of a Community Development Block Grant, which is overseen by the New York State Division of Homes and Community Renewal. Of this funding, $178,000 is expected to be allocated for business grants by the spring, while the remaining $22,000 would cover the administrative expenses of the city staff. Businesses with up to five employees, including the owner, can apply for these grants, which are expected to range from $5,000 to $35,000. Grants may also require a 10 percent additional contribution from the business owners. To be eligible, the business owner must have a low to moderate income, or the business should create a job that supports a low to moderate income individual. The grant can be used for various expenses, including purchasing machinery, equipment, furniture, inventory, and providing operating capital.

Image: Verizon


More in: Small Business Grants




[ad_2]

Source link