Best Businesses To Start with Facebook Ads (in 2023)

The video is about ranking different business opportunities that can be promoted using Facebook and Instagram ads, starting with dropshipping and discussing the pros and cons of each opportunity.

This video by Ben Heath was published on Apr 25, 2023.
Video length: 17:03.

The video is about ranking different business opportunities that can be promoted using Facebook and Instagram ads.

The speaker starts by discussing dropshipping and explains that while it is attractive to new entrepreneurs because it is easy to start, it also means that there is a lot of competition and it is difficult to differentiate oneself from others. The speaker then moves on to discuss digital marketing agencies, stating that while there is a lot of competition, the demand for high-quality digital marketing services is growing and can be a profitable business opportunity. Finally, the speaker mentions brick and mortar businesses, explaining that while they can be easy to advertise on social media, they require a significant amount of startup money and operational challenges.

Overall, the speaker ranks dropshipping as a poor business opportunity, digital marketing agencies as a good opportunity, and brick and mortar businesses as challenging but potentially profitable.

• Dropshipping is attractive to new entrepreneurs, but there is a lot of competition and lack of differentiation.
• A digital marketing agency has a large potential market, but scaling can be challenging.
• Brick and mortar businesses can advertise on Facebook and Instagram with low competition, but generating substantial profits is rare.
• Starting with a brick and mortar business is a common mistake for new entrepreneurs.
• Being an online coach or consultant can be lucrative, but the market is competitive and scaling can be difficult.
• Building a software business can have enormous rewards, but it is also risky and requires upfront skills and capital.
• E-commerce businesses have used Facebook and Instagram ads successfully, but competition is high.
• The influencer/content creator industry is highly competitive and the potential rewards may not be as large.
• Affiliate marketing allows you to focus on selling without worrying about deliverables or refunds, but competition can be high.

Best Businesses To Start with Facebook Ads (in 2023) - YouTube

Dropshipping

• Dropshipping is attractive to new entrepreneurs because it doesn't require product design, development, fulfillment, or shipping.
• However, the ease of starting a dropshipping business means there is a lot of competition.
• Most dropshippers end up selling the same products as others, leading to a lack of differentiation.
• Dropship products often have long shipping times, which can result in a poor customer experience and high refund rates.
• Dropshipping can lead to high costs and low profits, especially when considering advertising expenses.

Digital Marketing Agency

• A digital marketing agency has a large potential market and people are willing to pay high prices for quality services.
• While there is a lot of competition, the demand for digital marketing services is only expected to grow.
• Starting a digital marketing agency can be a good option for entrepreneurs with limited startup funds.
• Scaling a digital marketing agency to a larger business can be challenging.
• A digital marketing agency can generate significant profits, but there are better opportunities for achieving extremely high revenue goals.

Brick and Mortar Business

• Brick and mortar businesses, such as restaurants and gyms, can advertise on Facebook and Instagram with relatively low competition.
• However, these businesses require significant startup funds and often have high employee turnover.
• Most brick and mortar businesses generate small profits, and scaling can be difficult due to the need for new locations and staff.
• While these businesses can generate revenue, substantial profits are rare.
• Managing a brick and mortar business can be challenging due to operational complexities.

Best Businesses To Start with Facebook Ads (in 2023) - YouTube

Brick and Mortar Business

• Starting with a brick and mortar business is a common mistake for new entrepreneurs.
• It is a slow and difficult process with a lot of competition.
• Interacting with brick and mortar businesses doesn't necessarily mean it's a good business opportunity.

Online Coach/Consultant

• Being an online coach or consultant can be lucrative, but the market is competitive.
• People are not willing to pay high prices for coaching or consulting.
• Scaling the business can be difficult due to time constraints.
• Using the omnipresent content strategy is recommended for promotion.
• It can be a great lifestyle option for those who want flexibility and a stress-free work life.

Software as a Service (SaaS) Business

• Building a software business can have enormous rewards, but it is also risky.
• Most software businesses end up being worth nothing.
• Working with a technical co-founder is advised.
• It requires upfront skills, capital, and years of building with no guarantee of success.
• User acquisition using Facebook and Instagram ads is effective, but other elements need to be done right.

E-commerce

• E-commerce businesses have used Facebook and Instagram ads successfully.
• Regular e-commerce with stocked inventory and product design control is preferred.
• It is scalable and can provide a good living for solopreneurs.
• The demand for online purchases is likely to continue growing.
• Competition is high, and dominating a market can be challenging.

E-commerce

• E-commerce is a good business opportunity that can be promoted using Facebook and Instagram ads.
• It allows you to sell products online and reach a wide audience.
• However, it can be difficult to stand out among the competition.
• Commoditization is a common issue on platforms like Amazon, where price becomes the main factor.
• Amazon FBA, which stands for fulfillment by Amazon, can be convenient for shipping and distribution, but it also comes with fees that eat into your margin.

Influencer/Content Creator

• The influencer/content creator industry is highly competitive.
• Many people want to become influencers, which makes it difficult to stand out.
• The potential rewards may not be as large compared to other business opportunities.
• Pairing content creation with another type of business, like a digital marketing agency, can be beneficial.
• Being an influencer/content creator can trap you as the face of the business, limiting your ability to delegate tasks.

Affiliate Marketing

• Affiliate marketing involves selling other people's products and services for a commission.
• It allows you to focus on selling without worrying about deliverables or refunds.
• There are many products and services available to promote as an affiliate marketer.
• However, the competition in affiliate marketing can be high.
• Affiliate marketing can be a good option for new entrepreneurs.

Ranking Business Opportunities for Facebook Ads

• Affiliate marketing can earn substantial commissions, but lack of control over the product or service can limit innovation and require finding cheaper ways to acquire customers.
• Most successful affiliate marketers already have a large audience and use it as a way to generate extra income, rather than relying solely on affiliate marketing.
• Local service businesses can be a highly successful business opportunity when using Facebook and Instagram ads, with a unique approach explained in a separate video.
• This approach to local service businesses does not rely on personal branding, money, or existing connections.
• The speaker believes this is the best business opportunity and gives it an A+ rating.
• The video provides detailed information on how to generate demand for a local service business using Facebook and Instagram ads.

Watch the video on YouTube:
Best Businesses To Start with Facebook Ads (in 2023) - YouTube