35 Automated Business Ideas To Start In [2024]

Updated: November 28th, 2022

Are you interested in automated business ideas?

Automated businesses generate income with little or no regular input from the owner.

Starting an automated business is a chance to generate passive income and is a viable option for modern-day entrepreneurs.

You do not need a six-figure capital to start an automated business opportunity. There are tens of low-cost automated business opportunities you can start in 2024.

We put together a list of the best automated business ideas you can start and earn a passive income.

In this list of ideas, you can find:

  • Home-based automated business ideas.
  • Low- investment online business ideas.
  • Unique business opportunities for passive income.

Here they are:

1. Become a domain reseller

A domain reseller is an act of buying domain names from an accredited domain registrar to sell to customers as a service.

Thus, a domain reseller is a middleman between the registrar and the domain name customer. To become a domain reseller, learn the basics of domain reselling and choose the best domain reseller program based on your business objective.

How much you can make: $1,300 — $500,000/month

How much does it cost to start: $400 (?)

How long does it take to build: 7 days (?)

How We Created A $1.3K/Month Domain + Logo Package For Startups

Indiebrands sells company names completed by ready-made logos and a great top-level domain, making an average monthly revenue of $1,300 in the last 12 months and growing about 200% in the last year through selling to startup founders and indie hackers.

About
Laurids started Indiebrands over 3 years ago
Revenue
Laurids grew the business to $1.3K/month
Costs
It cost Laurids $400 to start the business
Read by 2,914 founders

2. Start an AI-based chatbot

An AI-based chatbot is an automated program that helps add convenience for customers by simulating a natural human conversation. Chatbots interpret and process users’ words or phrases and gives an instant pre-set answer.

In today's competitive environment, businesses digitize and automate to become more efficient. Therefore, the demand for AI-based applications is high than ever before.

Therefore, starting an AI-Chatbots building application can be profitable.

How much you can make: $7,000 — $150,000/month

How long does it take to build: 120 days (?)

How We Developed A $2M/Year AI Chatbot Platform

Enterprise Bot CEO Pranay Jain discusses how he grew his AI chatbot platform to reach over $2 million in annual revenue, with plans to double that this year, and shares advice for aspiring founders on keeping a positive attitude and never stop learning.

About
Pranay started Enterprise Bot over 7 years ago
Revenue
Pranay grew the business to $150K/month
Costs
It cost Pranay $100000 to start the business
Read by 6,246 founders

3. Start a music streaming app

Music streaming apps allow the consumption of audio content in different formats. The global music streaming market recently recorded a CAGR of 14.7%, and experts project it will reach $29.45 billion in the next few years.

The rising penetration of digital platforms and the growing use of smart devices are some factors boosting the market growth. Therefore, developing a music streaming app in 2024 can be a great chance to make money.

How much you can make: $70,000/month

How much does it cost to start: $6,500 (?)

How long does it take to build: 135 days (?)

How I Built An $840K/Year Piano Tutorial App

OnlinePianist is a profitable business generating $70k in monthly revenue, with 6 million global downloads and customers in more than 20 countries, offering the largest catalog of piano tutorials outside of YouTube with 3,000+ tutorials, and has plans to expand its capabilities to listen to what the user plays on their piano or keyboard and build a paid marketing strategy.

About
Nimrod started OnlinePianist almost 14 years ago
Revenue
Nimrod grew the business to $70K/month
Costs
It cost Nimrod $10000 to start the business
Read by 4,008 founders

4. Create a landing page builder

Let’s face it: creating a product is easy; creating a product that sells is the real challenge.

Many startups have great-looking websites but lack a highly converting landing page. A landing page builder does just that; it builds landing pages for you.

A landing page builder business is a service that helps businesses and individuals create professional-looking web pages designed to convert visitors into customers or leads.

To start this business on a budget, you’ll need basic web development skills and knowledge of popular website-building platforms like WordPress, Wix, or Squarespace.

Unbounce, a popular landing page tool, makes nearly $26M per year.

How much you can make: $10,000 — $1,500,000/month

How much does it cost to start: $500 (?)

How long does it take to build: 105 days (?)

On Starting A $160K/Month CRM & Automations Company After A US Air Force Career

GreenRope, a self-funded CRM and marketing automation platform with over 1,000 customers in 20 countries, was built organically and focused on creating a positive, customer-centric culture without outside investment, with an all-in-one interface solving challenges in managing sales, marketing, customer service, and operations.

About
Lars started GreenRope almost 16 years ago
Revenue
Lars grew the business to $160K/month
Read by 11,141 founders

5. Develop a dropshipping software

A successful dropshipping business is only as good as its software. Online sellers use dropshipping software to automate the process of listing items online, receiving customer orders, and sharing details with suppliers to fulfill the orders.

If you have coding experience and understand how dropshipping software works, consider building your dropshipping software.

To start, analyze what’s available in the market today, and identify gaps. Come up with strategies for filling these gaps, and start building your software.

Test it out with a few online retailers, optimize and launch.

How much you can make: $10,000 — $75,000/month

How We Started A $25K/Month Business Helping People Sell Online Without Owning Any Stock

Founder of Hustle Got Real shares how he turned a side hustle into a business generating $18,000/month with over 15,000 customers in 25+ countries, and offers insight into the process of designing, prototyping, and launching a successful e-commerce software tool.

About
Miguel started Hustle Got Real over 6 years ago
Revenue
Miguel grew the business to $25K/month
Costs
It cost Miguel $200 to start the business
Read by 16,371 founders

6. Start a stock trading business

Stock trading typically allows one to profit by buying and selling securities. However, profitability in stock trading relies on timing the market, different risk factors, and stock mispricing.

There is no minimum amount you need to trade in the stock market. You can begin with as low as $500 and add it as you earn and save more money.

How much you can make: $830,000 — $833,333/month

How much does it cost to start: $500 (?)

How long does it take to build: 120 days (?)

Teri Ijeoma Of Trade and Travel On How She Created A Million Dollar Business

Trade and Travel, an online trading course, made over $10M in 2020 and generated more than $45M in lifetime sales, with founder Teri Ijeoma using platforms such as Teachable, Convert Kit, Calendly, and Instagram to grow her business and reach a global audience.

About
Teri started Trade And Travel almost 6 years ago
Revenue
Teri grew the business to $833K/month
Read by 661 founders

7. Start a dating app

A mobile dating app is one of the most popular mobile-only businesses for creating an ecosystem and generating revenue. But, with the help of a robust development team, you can surpass all your competitors and create a sleeker end product than anyone else in this market.

Dating apps have made their way into an industry that was gaining enough traction. The online Dating Market size was valued at $7.35B in 2020 and is projected to reach $10.87B by 2028.

How much you can make: $11,250,000/month

How long does it take to build: 579 days (?)

Bumble: Whitney Wolfe : How I Built This with Guy Raz

How Whitney Wolfe, co-founder of Tinder, built dating app Bumble - where women make the first move - with close to 30 million downloads, after leaving Tinder alleging sexual harassment.

Revenue
Whitney grew the business to $11.3M/month
Read by 702 founders

8. Start a background check software

Background check software enables organizations to check and verify the information provided by potential employees or customers. The background software verifies various data sets, including the subject's education history, past employment, criminal records, and financial and other records.

Organizations would want to thoroughly scrutinize the persons they transact with and those they entrust with their daily operations. Therefore, the demand for background check software presents a potential business opportunity for programmers.

How much you can make: $20,000 — $500,000/month

How much does it cost to start: $50 (?)

How long does it take to build: 90 days (?)

How I Started A $6M/Year Background Check Software Business

Safe Hiring Solutions, a security technology company that provides comprehensive background checks for schools, ministries, volunteer organizations, and corporations has more than 7,000 clients and has been included on the Inc 5000 list the past five years, with a number 16 ranking for the fastest-growing private company in the Indianapolis region by the Indianapolis Business Journal.

About
Michael started Safe Hiring Solutions over 19 years ago
Revenue
Michael grew the business to $500K/month
Read by 10,323 founders

9. Start a proposal software app

A proposal software app is a program that streamlines the process of creating, sending, and closing proposals, quotes, contracts, and other sales documents. The common users of proposal apps include consultants and business executives who want to generate a personalized and professional-looking proposal. A good example of a proposal software app is Proposify

In creating your proposal app, first, understand how the target users interact with their proposals. Then, provide them with a suite of options so they choose ones that they feel convenient to use. Ensure your software enables the user to produce sleek business proposals quickly.

Typically, the proposal software should be intuitive for any user and should include critical automation and support client interaction tracking, to make proposal creation easy. Build a great product that solves your customer’s pain.

Finally, set up a customer support team that will be directly responsible for guiding customers through the onboarding process, and work towards retaining and expanding accounts.

How much you can make: $570,000/month

How much does it cost to start: $100 (?)

How long does it take to build: 205 days (?)

How We Built Proposify And Grew To $7M ARR

Proposify, an online business proposal SaaS company, currently serving over 8,000 customers and doing over $7M in annual recurring revenue, was founded by CEO Kyle Racki who turned his old proposal app idea into a successful business by focusing on user pain points, building a great product, and prioritizing customer service.

About
Kyle started Proposify over 11 years ago
Revenue
Kyle grew the business to $570K/month
Read by 9,252 founders

10. Start an accounting software business

Accounting software is an important part of any business. Without a definitive accounting system, businesses cannot keep track of debtors, creditors, assets, and liabilities.

According to experts, demand for new and advanced accounting software is increasing than conventional software. Besides, conventional accounting software lacks technological competitiveness, which creates an environment for expansion and upgradation of the accounting software market.

Are you looking for a business idea within the accounting sector? If you understand how accounting systems work, you can build modern accounting software that helps businesses manage accounts receivables, payables, and the general ledger, among others.

How much you can make: $25,000 — $1,000,000/month

How long does it take to build: 150 days (?)

Helping Youtubers & Online Content Creators With Their Accounting Turned Into A $300K/Year Business

A case study about FreeCashFlow.io, an accounting agency that specifically caters to the financial needs of Onlyfans models and entrepreneurs, helping them with bookkeeping, taxes, and financial management, all while overcoming the stigma associated with the industry.

About
Alan started Free Cash Flow over 2 years ago
Revenue
Alan grew the business to $25K/month
Costs
It cost Alan $500 to start the business
Read by 6,111 founders

11. Start a maid service software

Consumer demand for maid service is increasing at a significant rate. Experts attribute the increase in demand to the growing number of households and increasing disposable income.

High demand has created multiple opportunities, including starting a maid service software.

If you are interested in technology-based business opportunities, you can build a maid service software that connects customers to available domestic workers.

You do not need to be a programmer to build maid service software. You can hire programmers through online freelancing platforms like Upwork or purchase a ready-made service and tweak it to suit your business model.

How much you can make: $120,000/month

How much does it cost to start: $1,000 (?)

How long does it take to build: 80 days (?)

How We Validated And Grew A SaaS For Maid Services To $500K/Year

Amar Ghose co-founded ZenMaid, a software company servicing the house cleaning industry, which has now passed the half a million dollar yearly mark and intends to break the one million dollar a year barrier in late-2020, using paid advertising as a lead magnet and extensive email marketing funnel.

About
Amar started ZenMaid about 11 years ago
Revenue
Amar grew the business to $120K/month
Costs
It cost Amar $1000 to start the business
Read by 13,334 founders

12. Develop a seo software

SEO software is a computer program that is designed to handle search engine optimization tasks by optimizing the website content, managing backlinks, and other SEO activities.

SEO is something that you need to do for your website or blog in order for it to get any traffic. Some of us are new to SEO, even if we are SEO experts. SEO isn't just a craft, but an art form as well.

Making your own SEO software is more than potentially profitable. It also lets you interact with the people who use your software and allows you to figure out best practices from the data you collect.

How much you can make: $2,000 — $500,000/month

How much does it cost to start: $5,500 (?)

How long does it take to build: 180 days (?)

How I Bootstrapped My SaaS Company To $2.5M/Year In 5 Years As A Solo Founder

Solo founder Todd Hooper bootstrapped Prerender.io from zero to $2.5 million in ARR over 5 years by releasing an open-source project on Github and turning it into an SEO-friendly version of React, Angular, and Javascript websites, and then offering it as a SaaS service for businesses.

About
Todd started Prerender.io over 10 years ago
Revenue
Todd grew the business to $220K/month
Read by 15,860 founders

13. Start an ATM business

An automated teller machine allows people to withdraw money at a reasonable fee. The withdrawal fee is how the business makes money.

ATM is a profitable business with little to no overhead expenses. You can introduce an ATM at a grocery store, restaurant, casino, and other high-traffic locations. Another way to earn money operating an ATM is by allowing businesses to advertise on your ATMs.

If you plan to start an ATM business, you may consider buying or leasing one. Install the ATM at a safe location and partner with a reliable ATM maintenance company.

14. Start a chatbot advertising business

Chatbot advertising is a technique that employs computer programs to automate interactions with prospects. Customers can use chatbots on either a website or in a mobile app to generate sales. The advertising chatbot help marketers engage customers through personalized one-on-one interactions on platforms and apps where they already spend most of their time.

As chatbots become more efficient and relevant in offering brands a new channel to reach customers, starting a chatbot advertising business can be a lucrative opportunity.

15. Build an iPhone app

The iPhone is the most popular mobile device in the world. It has changed how we interact with information, entertainment, and communication.

The iPhone has also changed the way we interact with each other. Since its release in 2007, it has become a staple in most people’s lives. It is more than just a phone; it is a tool for staying connected to friends and family and creating new connections.

The iPhone app market is an ever-changing landscape of innovation: it’s not just about making something that works well; it’s about creating something that stands out from the crowd.

It would help if you had something that appeals to your audience to succeed in this market. This can be as simple as ensuring your app has a catchy name or as complex as developing an entire brand identity around your app’s functionality.

How much you can make: $150 — $2,000,000/month

How much does it cost to start: $6,500 (?)

How long does it take to build: 180 days (?)

Time commitment per week: Min. 5 hours/week

How I Created A $60K/Month App That Collects In-Person Payments Through Stripe

Payment.co, an app built on top of the Stripe payment gateway for creating card-present charges, has grown to process over $70M in volume annually since launching in 2015, with the app collecting a 1% service fee on every single charge.

About
Ryan started Payment for Stripe over 9 years ago
Revenue
Ryan grew the business to $60K/month
Read by 19,046 founders

16. Start a dropshipping business

Dropshipping is a business model where you sell products to customers without holding inventory.

Instead, when a customer makes a purchase, you buy the product from a third-party supplier, who then ships it directly to the customer.

To start a dropshipping business on a budget, choose a niche or category of products you want to sell.

Next, set up an online store using platforms like Shopify or WooCommerce. Then, find reliable suppliers from platforms like AliExpress, list their products on your store, and focus on marketing and customer service to grow your business.

Remember to carefully manage your expenses and monitor your profit margins to ensure profitability.

How much you can make: $6,000 — $3,000,000/month

How much does it cost to start: $6,000 (?)

How long does it take to build: 90 days (?)

Time commitment per week: Min. 10 hours/week

How I Started A $100K/Month Business Mentoring Dropshipping Entrepreneurs

Entrepreneur Kamil Sattar has developed multiple six-figure drop shipping businesses, and his company, e-commerce mentoring, specializes in helping others create their own successful companies, with favorite platforms including using Shopify and apps such as Loox reviews and SMSBump.

About
Kamil started E-commerce Mentoring about 7 years ago
Revenue
Kamil grew the business to $100K/month
Costs
It cost Kamil $1000 to start the business
Read by 24,341 founders

17. Start an online course creation software

Online learning has shown significant growth over the past decade. As more people opt to learn online, the demand for online course creation software keeps rising. If you are interested in starting a software business, you may consider building an online course platform. Ensure your platform supports the needs of modern learners and tutors.

How much you can make: $175,000/month

We Built A $2M/Year Online Team Training Tool [From Australia]

Coassemble is an online training platform that has seen >100% YoY growth since launch, capturing the untapped market segment of small to medium businesses looking to train online for the first time, with over 1,000 businesses signing up to the platform and 90% of new customers training online for the first time, using a focus on ease of use, flexible sharing options, deep reporting, and genuine engagement experiences.

About
Jude started Coassemble almost 8 years ago
Revenue
Jude grew the business to $175K/month
Costs
It cost Jude $10000 to start the business
Read by 2,903 founders

18. Start a subscription box business

Subscription box businesses offer customers a niche set of products on a monthly basis.

They're in high demand as they add value to customer service, offer exclusive products and can be highly profitable.

To start a subscription box business, understand your niche market, provide quality products, perfect your box design, build a good relationship with fulfillment companies, and market your service.

How much you can make: $400 — $16,666,667/month

How much does it cost to start: $210 (?)

How long does it take to build: 180 days (?)

How I Started A Gift Box Business For Non Traditional Brides

Vowed Box Co. is a line of curated, quirky gift boxes with non-traditional brides in mind, offering four different products that have helped the business become profitable most months since its launch in 2018, with a monthly income of roughly $600.

About
Lindsay started Vowed Box Co. over 6 years ago
Revenue
Lindsay grew the business to $400/month
Read by 30,080 founders

19. Become a freelance app developer

A freelance app developer is a programmer who creates mobile apps for Android and iOS devices. Freelance app development business targets creating various apps that give a user-friendly experience.

To become a freelance app developer, first, touch up on your skills. There are several courses available online. Once you obtain the certification, choose your niche and focus on your skill set.

Then the best way to showcase your work is to build a portfolio website where you will display your skills, projects, and testimonials. Another way to promote yourself is to create your brand and blog. This will, in turn, build a network, and you will be able to connect with people and attract more clients.

How much you can make: $10,000 — $91,000/month

How much does it cost to start: $350 (?)

How long does it take to build: 60 days (?)

How I Started A $69K/Month Software Agency After A Failed Product Launch

A software agency started by a non-technical founder helps diverse clients with their minimum lovable product, boasting a revenue of over $700,000 this year with a 20% profit margin and a team of 8.

About
Andrew started Krit about 10 years ago
Revenue
Andrew grew the business to $91K/month
Read by 24,562 founders

20. Start an IoT startup

An IoT startup focuses on devices connected to the internet that can be accessed remotely through the internet or a connected application.

Research what is essential to the end users to start and build a successful IoT. Leverage what is available to make the application easy to use. Then, create working prototypes, test, and build the application around the clear essential purpose.

How much you can make: $500 — $2,300,000/month

How long does it take to build: 505 days (?)

How I Invented The Ultimate Flying Gadget And Landed Massive Press

Craig Rabin invented The Airhook, a two-in-one beverage holder and electronics device holder that attaches to a closed tray table, and successfully launched it through a crowdfunding campaign that raised $15,000 from 750 backers, and went on to ship to every U.S. state and 73 countries, win Travel Product of the Year in 2019, and being featured in over 100 publications.

About
Craig started The Airhook over 9 years ago
Revenue
Craig grew the business to $8K/month
Read by 18,075 founders

21. Start a mom blog

Parenting may be an overwhelming journey. Mothers result to the internet to read stories from other moms.

Reading mom’s blogs makes parenting feel less alone a long way. Whether you are a stay-at-home mom or passionate about parenting, you can consider starting a mommy blog.

You can make money through affiliate links or by selling your merchandise on the blog. To increase traffic to your blog, include resourceful and encouraging content.

How much you can make: $3,000 — $10,000/month

How much does it cost to start: $500 (?)

How long does it take to build: 150 days (?)

How I Started A $10K/Month Blog About Motherhood

Mom blogger creates two related businesses, one generating 8-10k Canadian dollars per month in traffic revenue, and another offering courses to new bloggers about how to monetize their sites, all at an initial investment of $2,000, and largely based on her Pinterest presence.

About
Carly started Mommy On Purpose about 8 years ago
Revenue
Carly grew the business to $10K/month
Costs
It cost Carly $2000 to start the business
Read by 9,195 founders

22. Start a time tracking app

A time tracking app is a tool used allows its user to clock in/out via an internet-connected device or to use a stopwatch to record the start and end of tasks. The time tracker apps also have analytics and reporting features that consolidate the data so that users can gain insights into time spent on different tasks, projects, and clients.

The growing need among managers and enterprises to improve employee productivity and adopt a remote work culture contribute to the high demand for time-tracking apps.

Therefore, if you are looking for the best App-based business, you may consider developing a time tracker application. Here is a high-level overview of some steps to get you started working on your business idea of the time tracker App

  • Define the project scope
  • Choose a software development methodology
  • Formulate the approach for your development project
  • Create a project team
  • Develop the project plan with timelines
  • Test the prototypes
  • Find suitable API solutions
  • Publish the Apps

How much you can make: $350 — $500,000/month

How much does it cost to start: $3,000 (?)

How long does it take to build: 180 days (?)

How I Launched A $185K/Month Employee Time & GPS Tracking App

Labor Sync is a mobile application that provides business owners with the ability to track the time and GPS location of their mobile workforce and after just one year of use, they saved $104,000 across 45 employees despite starting off with no funds for advertising or marketing.

About
Dean started Labor Sync over 14 years ago
Revenue
Dean grew the business to $185K/month
Read by 7,546 founders

23. Start an online fitness business

Thinking of starting an online fitness business?

Online fitness is growing rapidly in popularity because it’s convenient, affordable, and accessible to everyone. The best part is that you can stay in your home to start.

Starting an online fitness business can be a great way to make money and help people. When you start an online fitness business, you don’t have to worry about overhead costs like rent or maintaining a physical location - all you need is a computer and an internet connection to get started.

How much you can make: $2,000 — $108,333,333/month

How much does it cost to start: $2,000 (?)

How long does it take to build: 60 days (?)

How I Started A $48K/Month Business With An Online Fitness Training Service

This case study is about a former personal trainer who launched his online personal training platform, TeamFFLEX, starting with no money and a lot of drive, and grew it into a 6-figure business in less than a year, now doing $48,000 a month with potential for continued growth.

About
Ryan started TeamFFLEX about 10 years ago
Revenue
Ryan grew the business to $82K/month
Costs
It cost Ryan $500 to start the business
Read by 25,317 founders

24. Create a digital wallet app

A digital wallet is a financial transaction application that runs on mobile devices. In today’s digital era, people demand the freedom to purchase anything and be able to pay from their digital wallets.

With technological advancement, making digital payments has become easier than ever before. Anyone can use mobile payment platforms to pay and accept payments online. Therefore, creating a digital payments wallet can be a great business opportunity.

To create a digital wallet, conduct extensive market research and create a business plan. It would help if you could hire competent programmers to create a secure payment gateway.

How much you can make: $220,000 — $1,500,000/month

How long does it take to build: 400 days (?)

How We Launched A $1.5MM/Month Digital Wallet and Financial Services Company

iCard is a leading e-money institution that offers a unique and 100% digital bank account alternative, with their app and services supporting the daily payments of people in over 30 European countries, and since launch in late 2017, the iCard app has seen around 500,000 downloads.

About
Yavor started iCard almost 16 years ago
Revenue
Yavor grew the business to $1.5M/month
Read by 10,234 founders

25. Start a travel-planning app business

In the past, arranging trips on your own was a challenge only a few people could take on. Travel agents were on the rise at the time and handled everything from hotel reservations to ticket booking and traveler's itineraries.

Today, travel agents are at the risk of becoming obsolete as more travelers embrace the online travel trend. According to research, the online travel booking service will experience a compound annual growth rate of 9.0% in the coming years.

Therefore, starting an online travel-planning app business can be a profitable venture. Some potential opportunities include:

  • Travel itinerary planning apps
  • Travel booking apps
  • Location-tracking apps
  • Language translation apps

The travel-planning apps should provide users with instant availability of information, a one-stop platform, & simplify transactions,

How much you can make: $22,000 — $114,200,000/month

How much does it cost to start: $5,000 (?)

How long does it take to build: 60 days (?)

How I Launched A $5K/Month Website About Tourist Visas And Got 150K Users In The First Month

Visa List is a successful micro start-up that provides one-stop visa information for travellers, earning $5000/month on average with 350K monthly active users and has helped over 2 million users with their visa requirements, all starting from a personal frustration with visa processes.

About
Hari started Visa List almost 6 years ago
Revenue
Hari grew the business to $22K/month
Costs
It cost Hari $100 to start the business
Read by 15,482 founders

26. Start a defi exchange

Defi exchange platform uses blockchain technology to create financial products and services. A Defi exchange platform allows users to create financial products without needing a third party. Some applications of DEFI platforms include:

  • Creating financial products without the need for a third party.
  • Allowing users to create financial products on the blockchain.
  • Enable borrowing and lending of money on the blockchain.
  • Allowing users to invest in cryptocurrencies and other assets.

27. Start a white label reporting tools business

A white label reporting tool is software provided unbranded to a reseller. The reseller company rebrands and sells as if it were its reporting tool.

In most cases, a white label reporting tool is sold as a SaaS product where the company using the software is renting or leasing under a monthly or annual subscription.

With a white label reporting tool business, the reseller offers the tool to its clients without investing in development. The deployment is much faster than when the company was to hire its developers to do the product.

28. Sell digital products

Digital products are top-rated. They’re easy to create and share and a great way to build a business.

Digital products can be software-based, like an app or game, or information-based, like an ebook or course. They can also be something else entirely—like a membership site or a community. The possibilities are endless!

So what makes digital products such a great way to build a business? Well, first of all, they’re effortless to create. You don’t have to hire anyone else to do it for you; you can do it yourself! And because there’s no risk of having inventory sitting around in your garage, digital products can be sold directly from your website without worrying about moving merchandise.

How much you can make: $10,000 — $1,766,666/month

How much does it cost to start: $500 (?)

How long does it take to build: 58 days (?)

My Finance Newsletter & Community Hit A $3M Run Rate This Year

Contrarian Thinking is a premium membership community that teaches its 1.5 million members how to implement cash flow strategies to achieve financial freedom, with a current run rate of $3 million and a goal of $50 million ARR in five years.

About
Codie started Contrarian Thinking over 4 years ago
Revenue
Codie grew the business to $250K/month
Skills
Public Speaking, Copywriting, Community Building
Costs
It cost Codie $5000 to start the business
Read by 5,085 founders

29. Start a P2P lending platform business

A p2P lending platform allows participants to borrow and lend sums of money without relying on conventional financial institutions. Experts expect the peer-to-peer lending market to grow at a CAGR of over 21%, reaching a valuation of over 10 billion in the next few years.

No longer the new kid on the block, P2P platforms have entered the mainstream and brought unprecedented support for small and medium-sized enterprises. Therefore, starting your P2P lending platform can be a great business venture.

To build a peer-to-peer lending platform, decide on the business formation and register your business name. Then register a domain and raise money for your startup capital.

30. Start a webinar hosting business

Are you an app builder looking for a profitable business? Consider building a webinar hosting platform.

Businesses host webinars as a tool for helping them convert leads into paying customers.

Therefore, starting your webinar hosting service could be a profitable business venture.

To attract customers, focus on building a robust webinar hosting service that provides the users with all features they need to host an interactive webinar. A webinar hosting service should offer custom solutions and support for all technical issues.

How much you can make: $2,000 — $897,000/month

How much does it cost to start: $4,000 (?)

How long does it take to build: 183 days (?)

How I Turned My Teenage Hobby Into A Profitable Static Web Hosting Service

Tiiny.Host is a web hosting company that's doubled its monthly recurring revenue every three months, amassing 40,000+ users by providing an easy-to-use hosting and file sharing solution, and built up its brand through SEO.

About
Elston started tiiny.host almost 5 years ago
Revenue
Elston grew the business to $2K/month
Costs
It cost Elston $100 to start the business
Read by 4,740 founders

31. Start an online retail store

Starting an online retail store is straightforward. All you need is a computer, a domain, and a web hosting service. Then, determine a niche for your online store, and conduct product research before listing products.

You can start your online store based on a drop shipping business model or list your self-made products in your online store.

How much you can make: $5,000 — $62,500,000/month

How long does it take to build: 51 days (?)

How I Turned A $5K Investment Into A $7.2M Apparel Brand

This case study follows the story of a successful online business that has made 7.2 million dollars in sales since 2012, with profits of around 30-45%, and the founders share insights on lessons learned and tools used.

About
Jonathan started On Cloud Faith almost 2 years ago
Revenue
Jonathan grew the business to $5K/month
Costs
It cost Jonathan $5000 to start the business
Read by 8,022 founders

32. Offer a building and construction course

The core of building and construction courses includes designing, installing, and maintaining plumbing, electricity, modern framing, and finishing systems. These courses teach students safety procedures for construction sites and machinery.

With the demand for home builders and renovation experts increasing, more people are interested in taking up the available opportunities. Consequently, there is a high demand for building and construction courses. Starting your own building and construction training program can therefore be profitable, but you must be a registered trainer at first.

How much you can make: $125,000/month

How much does it cost to start: $2,500 (?)

My Past Career Helped Me Build A $60K/Month Online Business

SI Certs CEO Gabriel Kramer shares how he turned his experience as a construction inspector into an online test prep course business that made over $45,000/month in revenue last year, and is projected to make $60,000/month this year.

About
Gabriel started SI Certs over 13 years ago
Revenue
Gabriel grew the business to $125K/month
Costs
It cost Gabriel $2500 to start the business
Read by 14,264 founders

33. Become a NFT broker

A None-Fungible Token (NFT) is a digital asset representing real-world objects, people identities, property rights, e.t.c.

Ideally, NFTs exist on a Blockchain and traders cannot replicate them, since they feature unique identity codes and metadata as the key identifiers. Therefore, it is impossible for one NFT to be equal to another, which is critical, especially when it comes to digital ownership.

Digital ownership is still a new concept, but one that is becoming increasingly popular especially with NFT trading taking shape. According to a 2021 report on NFT trading, NFT Sales Amounted to Over $2.4 Billion in the First 6 Months of 2021.

Are you fascinated by NFT trading? In this post, we highlight the top NFT broker businesses in 2021.

34. Become a forex broker

A forex broker is a financial service company that provides traders access to a platform for buying and selling foreign currencies. Forex brokers serve currency speculators and investors. Most forex brokers allow customers to trade in different currencies.

To start a forex brokerage, study competition and determine the target audience. Then, establish the capital estimation depending on the level of trading. Register your business and apply for the required licenses.

Then, you will need a connection to a payment solution and build the software infrastructure.

35. Build an AI based voice and image recognition tool

Artificial Intelligence has successfully established itself as a technology that attracts development and growth. Businesses that leverage AI tends to have a competitive edge over their competitors.

Experts project that the global Artificial Intelligence market will expand at a compound annual growth rate of 38.1 annually over the next decade.

Are you ready to be part of the growing AI industry? If yes, consider creating AI-based voice and image recognition tools.
Voice and image recognition tools are critical in performing multiple machine-based visual tasks like:

  • Labeling the content of images with meta tags
  • Performing image content search
  • Guiding autonomous robots
  • Self-driving cars
  • Accident-avoidance systems

With the multiple application areas of voice and image recognition tools, starting a business in that line could be profitable in the long run. To create a successful tool, select the right platform, choose only the required features, and create the tools with end-users in mind.

meet the author
David Gitonga

"The best life hack of all is to just put the work in and never give up" - Bas Rutten (UFC Heavyweight Champion). Hey there! I am a talented freelancer passionate about writing and researching all topics business and entrepreneurship.