The 44 Best Business Ideas In Bosnia [2024]
Interested in starting a business in Bosnia in 2024?
We put together 44 of the best businesses you can start in Bosnia today.
In this list of ideas, you can find:
- Home-based businesses to start in Bosnia
- Profitable online business ideas
- Unique business opportunities for Bosnia
- Low investment business ideas (under $5k to start)
- Easy businesses you can start in Bosnia today
For each business idea, we’ll show you real-world examples, revenue expectations for each idea, + a step-by-step on how to start your small business in Bosnia.
Here's the full list:
1. Start a podcast
The podcast business involves creating and producing audio content that people can listen to online.
It’s a popular form of entertainment and information-sharing.
To start a podcast business on a budget, you'll need a few key steps.
First, choose a niche or topic that you're passionate about and that has an audience.
Next, get basic recording equipment like a microphone and headphones.
Then, find a free or affordable hosting platform to publish your episodes.
Finally, promote your podcast through social media, online communities, and word of mouth to build an audience and potentially attract sponsors or advertisers.
How much you can make: $400 — $1,020,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 60 days (?)
Time commitment per week: Min. 2 hours/week
A successful podcast production company that grew from one client making $15/hour to a team of 10 contractors producing over 30 shows per week with revenue of over $10k/mo, primarily through referrals and with a focus on providing high personal touch and being picky about working only with clients who are a good fit.
2. Start an IT company
How much you can make: $500 — $2,400,000/month
How much does it cost to start: $850 (?)
How long does it take to build: 120 days (?)
Apps: Lab KE is a software development company generating $3,500 per month, specializing in problem-solving using technology and data for businesses and communities.
3. Start a construction company
Running a construction company can be very rewarding and require hard work, attention to detail, and a hustle mentality.
Construction companies are responsible for building/designing a variety of apartments, buildings, properties, housing, infrastructure, facilities & developments, motorways, roads, paths, pavement, and more.
How much you can make: $10,000 — $10,000,000/month
How long does it take to build: 120 days (?)
Mountain Fire Woodworks founder Cameron Vilcsak shares how he used YouTube to promote his log cabins, chainsaw carvings, and passion for woodworking, culminating in one of his videos that has gone viral with over 25 million views and counting.
4. Start a blog
In recent years, blogging has become a highly sought-after & lucrative Business. This location-independent business is a creative outlet to reach a broader audience and even work at any time. According to Optinmonster’s list of blogging statistics and facts:
- Blogs have been rated as the 5th most trustworthy source of gathering online information.
- 77% of internet users read blogs.
- Each month, approximately 409 million people view more than 20 billion pages.
Originally blogging started as an online journal, but today it is a highly profitable career option. Many people are choosing blogging as their full-time career and are earning their bread and butter from this profession.
If you want to start blogging as a side hustle or as a full-time profession, choose a niche you will enjoy writing about and have a content strategy ready. Then, create a mailing list, and decide on a good blog posting routine to keep your audience engaged.
How much you can make: $200 — $160,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 37 days (?)
Time commitment per week: Min. 5 hours/week
Learn how one couple created a successful personal finance blog, The Savvy Couple, that now makes over $20,000 per month and has sold thousands of digital workbooks and courses, by focusing on purposeful content and optimizing their ROI with efficient time management.
5. Start a mobile photography business
Want to start your own photography business? You're not alone. With the rise of social media and photo-sharing, blogging, and online retailing, it's never been easier to start making money behind your camera.
There are photographers shooting weddings, creating images for ad campaigns, freelancing for magazines, touring the world, taking photographs of destinations — the list is endless!
To start mobile photography in Bosnia, research the target audience and determine which specialization area is more lucrative. Invest in high-quality, professional cameras, lenses, and a computer with professional software photo-editing software.
How much you can make: $2,000 — $500,000/month
How much does it cost to start: $5,000 (?)
How long does it take to build: 200 days (?)
Photobooth Supply Co. offers a profitable business opportunity through their sleek and portable photo booths, with up to 97% satisfaction rate and a focus on customer experience, in a fast-growing event industry where photo booths are exploding.
6. Become a proofreader
Proofreading business is a service that helps customers review their written work and ensure it is ready for publication. Typically, a proofreader corrects grammatical errors and provides the written piece meets any relevant style guide.
As a proofreader, you can work online, allowing you to choose what time to work.
If you plan to start a professional proofreading business in Bosnia, make sure you possess the following skills:
- Have an excellent grasp of grammar
- Ability to correct mistakenly capitalized words
- Familiarity with the proper use of capitalization
- Use spell-checkers to flag misspelled words
Proofreading is a great way to enhance content quality. With the increased use of written content marketing to reach a broader market, the demand for professional proofreaders has grown tremendously. Professional proofreaders earn an average of $12/hr. And $30/hr.
Therefore, consider proofreading as a business if you are looking for a great side hustle idea or simply looking for ways to increase your income.
How much you can make: $2,000/month
A proofreader was able to build a consistent income of ~$2,000 per month from scratch with zero experience in the field, no expenses, and barely any upfront costs by targeting bloggers and content creators who want their content to be copy edited and proofread.
7. Start a woodworking business
While many see woodworking as a hobby to pass the time, it is a profitable blue-collar business with growth potential. If you are skilled, passionate, and looking for a blue-collar side hustle, consider starting a woodworking business.
Starting a woodworking business allows you to work from home. Besides, you can scale the business easily and enjoy unlimited earning potential. Some opportunities you can go for include building custom wood pieces, teaching others about woodworking, starting a woodworking blog, and flip furniture.
How much you can make: $1,000 — $1,600,000/month
How long does it take to build: 204 days (?)
Time commitment per week: Min. 5 hours/week
Sasha Weekes, owner of Timber Grove Studios, turned her fine arts and cabinetmaking education into a successful home-based woodworking business that grew from a side project to netting 20-50% profits month-to-month and up to $10,000 in sales during peak periods through Etsy, with her company's growth continuing to increase through other social media outlets.
8. Start a language translation service
Language translation services bridge the linguistic barriers, helping businesses reach a wider audience outside of a single language. A language translation job is an opportunity to cover a wide range of topics and meet people from different cultures.
To become a language translator in Bosnia, master a second language and earn some experience so you become fluent in the second language.
How much you can make: $40,000 — $550,000/month
How long does it take to build: 70 days (?)
DEMAN Translations grew from 6 employees and 1.5 million euros in turnover in 2015 to 17 team members and 3.5 million euros in sales in 2020 after acquiring 12 other translation agencies, with a goal to reach 6 million euros this year and 10 million euros in 2022.
9. Start an affiliate marketing business
Are you looking for a side hustle to pay you a passive income? Affiliate marketing is one of those side hustles that will pay you well over the long term. It is a way to earn money online by promoting other companies' products and services. You will be paid a commission for each sale you make as an affiliate marketer.
To get started, learn how to find the right product and brand to partner with. For example, you may prefer becoming an affiliate marketer for an eCommerce store, partnering with a manufacturer, and marketing their products for a commission.
How much you can make: $500 — $773,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 55 days (?)
Bar Games 101 is an authority website about classic bar games with over 200K monthly visitors and revenue over $4,000 for the month of August, achieved through consistent publishing of researched articles and outsourcing by the founder.
10. Start a content writing company
Content writing involves writing, editing, and publishing content in a digital format. Examples of content include a blog post, product description, and podcast script—eBooks, press releases, or landing page content.
Becoming a content writer allows you to work as your boss. Therefore, you choose whatever working schedule suits you and take a manageable workload. Moreover, content writing helps you develop essential skills you may not obtain from regular writing.
Content writing is a highly-on-demand service, as companies compete for the online audience who often begin their shopping journey by searching for relevant and educative content online. Therefore, a content writing company is an excellent source of passive income.
To start a content writing company in Bosnia, research the market and choose a suitable niche. Sketch a proper business plan and create a website. Hire a pool of talented writers and leverage modern technology to streamline operations.
How much you can make: $1,000 — $250,000/month
How much does it cost to start: $550 (?)
How long does it take to build: 30 days (?)
Scribly.io, a subscription-based copywriting service providing high quality content that helps businesses scale at roughly 50% of the cost of hiring in-house, created by Dani, a first-time entrepreneur who started with just a few hundred dollars worth of projects and with the help of three other writers; as of last month, Scribly.io topped $14K monthly revenue.
11. Start an online advertising agency
An online advertising agency helps businesses promote their products or services on the internet.
To start this business on a budget, first learn the basics of digital marketing through free online resources.
Create a professional website and set up profiles on social media platforms to showcase your skills.
Build a portfolio by working on mock campaigns or offering discounted services to friends and family, and gradually market your services to attract clients.
With dedication, you can grow your agency over time.
How much you can make: $2,797 — $1,250,000/month
How much does it cost to start: $2,500 (?)
How long does it take to build: 45 days (?)
Iman Gadzhi made over $1.2M in profit within two years with his social media marketing agency and education company, where he teaches entrepreneurs how to start and scale a profitable SMMA, with over 45 of his students making over six figures with their SMMA, and over 300 students having quit their regular jobs.
12. 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
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.
13. Start a freelancer platform
Freelancer platform is a place where people come with skills and services to offer and people come who need those skills and services. So we can say freelancer platforms are a marketplace for sellers and buyers of services and skills.
The freelancing industry is growing rapidly and it's becoming a popular career option for people who are "non-traditional" employees. The global Freelance Platforms market size is expected to reach $6.7B by the year 2025. While working on a full-time job, freelancers simultaneously work on a freelance career. The platforms available online help them to increase their business by attracting new clients.
With all of the businesses looking for help on their websites, it would be a good idea to start a freelancer platform. Freelance platforms do well because people have jobs that need to be done and businesses have the resources to pay for the job at hand.
How much you can make: $3,000 — $5,000,000/month
How long does it take to build: 80 days (?)
CloudDevs, a tech talent platform that sources and vets freelance tech talent and matches them with companies, has achieved $1 million in GMV in its first year, plans to achieve 100% growth year on year, and focuses on customer loyalty through its Net Promoter Score metric.
14. Start a food delivery business
In today’s busy lifestyles and schedules, cooking is no longer a priority to many. People like to order-in food from their nearest restaurants or food joints and enjoy a meal in the comfort of their homes.
The food delivery business is like a courier service through which restaurants deliver food to their customers.
You can offer retail food delivery services to restaurants within your locality if you have a truck. Customers order through a restaurant or grocer’s website, and the owners contact you to deliver.
How much you can make: $4,000 — $83,333,333/month
How much does it cost to start: $2,750 (?)
How long does it take to build: 90 days (?)
Food Fleet grew over 160% in just one year and managed over 20 million in sales for its clients, securing multiple contracts with the likes of Sodexo, Levy Restaurants and more, due to its understanding of catering client needs and its advanced turnkey and design services.
15. Start a niche web design business
Niche web design business focuses on a specialized market such as law, home improvement, videography, fashion, etc. typically, when a web designer niches down their services, they are simply choosing to concentrate on one industry and create websites for businesses within the particular niche. To become a niche web designer, consider honing the following skills and personal qualities:
- Visual design, HTML, CSS, JavaScript
- Strong communication skills
- Analytical thinking and problem-solving skills
- Teamwork and research skills
- Attention to detail
Narrowing your focus to a particular niche gives you a higher chance of becoming a recognized expert and places you in a better position to charge more for your services.
How much you can make: $200 — $200,000/month
How much does it cost to start: $1,000 (?)
How long does it take to build: 40 days (?)
The Locksmith Agency, run by Samuel Wilson, a licensed locksmith with over 10 years of digital marketing experience, is making $30k+ per month by providing digital marketing services such as Website Development, SEO, and Google Listing optimization services specifically for the locksmith industry.
16. Start a SEO agency
An SEO agency is a company that provides search engine optimization services to businesses. The function of an SEO agency is to help businesses rank higher in search engines through organic or paid means.
SEO is a rapidly growing industry, with experts across all aspects of the field already making six-figure incomes and expecting to see these earnings grow dramatically over the next few years. Getting into SEO today, before it gets too saturated, will allow you to establish a strong base in a new career, with an excellent chance for success.
It’s easier than ever to start your SEO agency in Bosnia. The tools are there, and the competition isn’t as stiff as it used to be. If you’re considering starting an SEO or digital marketing agency, it might be a good idea to learn how other digital agencies succeed.
How much you can make: $1,000 — $1,800,000/month
How much does it cost to start: $1,000 (?)
How long does it take to build: 60 days (?)
Rankings.io is a hyper-focused SEO agency that helps elite personal injury law firms dominate first page rankings and was ranked #858 in the Inc. 5000 list of the fastest-growing companies in America for 2018, with a current revenue just under $300,000 per month, with plans for a record-breaking year.
17. Start a solar energy business
Switching to solar energy has become the best way to save money by reducing utility bills. Are you interested in starting a business that focuses on renewable energy solutions?
A solar company can be a great business idea. You can set up a solar energy plant and sell the power to households and businesses without requiring them to purchase the entire solar energy system.
How much you can make: $600,000 — $2,000,000/month
How long does it take to build: 120 days (?)
Clean Energy Solutions, a solar-energy provider based in LA, has grown over 6700% from 2014 to 2019, with monthly revenue around $600,000 and plans to expand its energy-efficient affordable housing division, thanks to its unique solar program allowing clients to save money using solar energy at a lower price than their utility would charge.
18. Become a virtual assistant
Virtual assistants support businesses, teams, or individuals by performing administrative tasks remotely. As businesses these days tend to outsource their tasks, the demand for virtual assistants is growing rapidly.
Becoming a virtual assistant is flexible, as you can choose a work schedule and location at your convenience. Many virtual assistants in Bosnia have a dedicated home office where they work in a quiet and distraction-free environment.
To become a virtual assistant, identify a niche you like and undertake any training. Then, figure out how much to charge your customers and create an online presence where you can apply for jobs. As a virtual assistant, you can define your work schedule depending on your availability.
How much you can make: $1,000 — $1,000,000/month
How much does it cost to start: $1,000 (?)
How long does it take to build: 60 days (?)
Filipino Virtual Assistance by FVA Business Consultancy, founded by Julmar Grace Locsin, offers online and offline training to empower marketers, enable businesses, and equip freelancers which has trained 25,000 students from their 31 courses, has 16 coaches assigned from different territories, and fifteen in the FVA team for global digital leadership that will impact the world through digitalization, one life at a time.
19. Start a graphic design business
Graphic designers create logos, brochures, ads, and other marketing materials for companies and organizations. They also design websites and other digital content, including social media graphics.
Graphic designers may specialize in one type of design (such as print or web design), or they can be generalists who do everything from logo design to social media graphics.
Starting a graphic design business can be one of the most rewarding things you’ll ever do. It’s not easy, but if you’re passionate about design and want to make a living, starting your own graphic design business is a great way to go.
Consider a suitable pricing structure when starting a graphic design business in Bosnia. You may charge the customers per hour or fixed pricing based on the project’s nature.
How much you can make: $2,500 — $1,000,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 87 days (?)
Learn how two friends bootstrapped a SaaS business to $55k monthly recurring revenue (MRR) by creating a simple graphic design tool for non-designers and focusing on content marketing for customer acquisition.
20. Start an online video editing business
Video editors manage camera footage, dialogue, sound effects, graphics, and special effects to produce the final film or video product. To become an online video editor, you must have media production and communication knowledge and the ability to work with others.
To start a video editing business, you can outsource video editing skills from an experienced professional. Your role will be to pick video footage from the customers and upload them for the video editor to do the magic.
How much you can make: $2,000 — $208,000/month
How long does it take to build: 145 days (?)
VEED.IO, a London-based start-up co-founded by Sabba and her partner, offers a simple online video editing platform using batch job cloud architecture to help social media managers across the world auto subtitle, filter, rotate videos and much more, earning the company $5,300 MRR and the founders Ramen profitability within just a year of starting.
21. Start a voice over service
Voiceover artist is an auditory performer who uses their voice in scripted presentations. The role of a voiceover artist is only to be heard but not to be seen.
Working as a voiceover artist is an opportunity to choose the projects you enjoy engaging in. The role of a voiceover artist is also fun and can help you meet new people.
To become a voiceover artist in Bosnia, start practicing aloud reading so you familiarize yourself with your sound. Then, create your recording studio where you can practice your voiceover skills. It would help if you had a quality microphone, professional recording software, a computer, and soundproofing materials.
How much you can make: $400 — $60,000/month
How long does it take to build: 90 days (?)
Voice Crafters, a multilingual voice-over agency and marketplace founded by Mony Raanan, doubled their revenue to over $765,000 in 2022 with a bottom line of around 30% after transitioning to an online marketplace and carefully vetting their network of over 1,000 professional voice actors in more than 80 languages.
22. Become a shopify app developer
Have you thought about a career building Shopify apps?
Shopify is a Canadian e-commerce company that provides an online platform for entrepreneurs to set up their own online stores and sell products. Shopify is now valued at over $45B (as of 2022) with over 1.75M merchants using the platform worldwide.
To be able to build a plugin for Shopify, you need to know how to code. If not, then at least have some knowledge of HTML and CSS. You also need experience in the Shopify API and some basic knowledge about the Liquid template language for Shopify.
How much you can make: $150 — $65,000/month
How long does it take to build: 115 days (?)
Savy founder Disha Shidham built her business with an agile approach, utilizing customer feedback to create its flagship product, Savy Sales, leading to industry disruption and a 30% revenue increase on average for its partners with no ad spend or marketing.
23. Start an idea management software
Idea management software is designed to help businesses and teams collaborate and track their ideas. The act of managing ideas can heavily influence the outcome of teams and projects, which can mean the difference between success and failure for a company.
You'll need to ensure that you have a solid foundation of coding and prototyping to build this kind of software. On top of that, you'll want to have good sales and marketing skills to sell this software to companies and executives.
How much you can make: $66,000 — $750,000/month
How much does it cost to start: $7,000 (?)
How long does it take to build: 90 days (?)
UK-based Idea Drop is a software-as-a-service (SAAS) allowing businesses to identify, refine and execute innovative ideas through its platform, which is already being used by MT, Ericsson, and the Kent Police Force, offering a public challenge facility allowing clients to crowdsource ideas, with one Covea idea implemented via the platform estimated to save the company £2.5m over five years.
24. Start a travel agency
Are you a passionate traveler with entrepreneurial skills? Then starting a travel agency can be a great career choice for you.
As a travel agency, you'll be responsible for linking travelers to providers of all the travel and tourism-related services such as accommodation, transportation, sightseeing, tour guides, local adventure, etc.
Starting an online travel agency is a lot easier than you might think. You'll need to perform market research, get a few necessary certifications (such as your IATA number), study competition, build a website, and do proper marketing.
To maximize earnings, negotiate discounts from the industry service providers, and charge travelers within the market rate.
How much you can make: $2,000 — $114,200,000/month
How much does it cost to start: $1,000 (?)
How long does it take to build: 90 days (?)
Marissa Daniels runs a successful travel agency, Spread Your Wings Travel, that hit $100,000 in sales within a year of launch and provides payment plan options for its all-inclusive vacations, and she hopes to help 100 families supplement their income through the business.
25. Start a youtube channel
For anyone looking to start a successful YouTube channel, there are plenty of YouTube channel success stories that can be used as inspiration and encouragement. In addition, YouTube has an established monetization system and boasts incredible popularity, making it a potential platform for revenue generation.
In this article, we'll look at different approaches you can use to help promote your channel and grow your viewers. While there's no quick and easy way to success, you can take these tips to build your own YouTube Channel Success story. If you love content creation, you can capitalize on YouTube's popularity to earn extra income.
If you want to join the Youtube partner program to monetize your channel, you will need to reach a minimum of 1,000 subscribers and 4,000 watch hours in the previous 12 months.
How much you can make: $800 — $4,500,000/month
How much does it cost to start: $750 (?)
How long does it take to build: 90 days (?)
Time commitment per week: Min. 5 hours/week
Learn how this entrepreneurial couple made $5-7k a month by helping others find legitimate work from home jobs and creative ways to make money online through their blog and YouTube channel, as well as offering two flagship products designed to help beginner freelancers and new bloggers accelerate growth.
26. Start a social media management business
Similar to virtual assistants, social media managers offer various services, including but not limited to:
- Developing a marketing strategy based on clients’ goals
- Setting up social media accounts
- Posting on behalf of their clients
- Coming up with strategies for increasing client’s social media following
- Marketing analysis.
To become a social media manager, know the various platforms and understand how they work so you can develop strategies that help clients reach their goals.
The beauty of working as a social media manager is that you can define your work schedule and choose what niches to work on.
How much you can make: $20,000 — $166,667/month
How much does it cost to start: $251 (?)
How long does it take to build: 3 days (?)
A social media manager turned entrepreneur created a program that has brought in almost $100,000 in one year, designed to teach women how to run successful social media businesses in less than 30 days.
27. Start a real estate investment club
Real estate investment clubs are non-profit organizations where investors join together to buy real estate properties and make joint investments.
Real Estate Investment clubs can work on 2 models: free to join for all or charge an annual fee, which would be less than a few hundred dollars. Every Real Estate Investment club should offer knowledge about different investment practices, how to advertise a service or a business, networking with fellow professionals in the real estate industry, etc.
To start a real estate club, you should consider the following points:
- Conduct market research and reach out to people who already have expertise in this field
- Attend meetings and find out how other clubs operate.
- Familiarize yourself with real estate laws and current market conditions.
- Once you decide your mission, start recruiting people and promoting your club
Investing in real estate can be a big step. Hence, it is always beneficial to form a partnership and find the best deal. Ideally, a club may charge between $50 to $150 per year.
How much you can make: $10,000 — $600,000/month
How long does it take to build: 240 days (?)
Equity Residences is a luxury real estate investment fund that has raised $40 million from over 200 investors, offering them access to a portfolio of luxury vacation homes for investment and personal use, with a minimum investment of $161,500 and plans to acquire a further twenty residences ranging from $1.5M to $4M.
28. Start a resume writing business
The resume writing business is a service that helps job applicants write professional resumes, provide details about their past experiences, and highlight their skills. Resume writing makes it easier for clients to capture hiring managers’ attention and shows they are fully qualified on paper.
A successful resume writer should have strong communication skills, proofreading skills, typing skills, and relevant business experience. Besides, the resume writer should have strong interpersonal skills and proven success.
According to glassdoor, 68% of job seekers who hire professional resume writers find a job within 90 days. The study also points out that professionally written resumes score jobs faster and earn more.
Therefore, the demand for professional resume-writing businesses will keep increasing.
How much you can make: $2,000 — $62,500/month
How long does it take to build: 150 days (?)
This case study follows a business owner who doubled his income from side hustles in two years, earning over $30,000 annually by writing resumes and LinkedIn copy, blogging weekly, and increasing rates as he attracted more clients from online platforms like Craigslist and LinkedIn.
29. Start an audio sharing app
An audio-sharing app is a streaming application that delivers sound or music without the need of downloading files from the internet.
Examples of audio sharing apps include Spotify, Apple, Music, and Pandora.
The global music streaming market size has increased YoY since its inception and has become the primary revenue source for most music labels.
The trend is attributed to the global music streaming subscriber base growth which is expected to reach 2.81 Billion in the next few years. Given the trends, building your audio sharing app is a great app business idea that will allow you a slice of the pie.
To start an audio-sharing app business, follow these steps:
- Research the main features of an audio-sharing application
- Apply for the respective license
- Hire a team of music application developers
- Develop the audio sharing app UI/UX design
- Decide the Audio sharing app's minimum viable product
To achieve success with your audio-sharing app, get started asap!
How much you can make: $20,000 — $100,000/month
How long does it take to build: 90 days (?)
Saga, a private family podcast app, was founded to help families save the life stories of loved ones through audio and has raised $1.8 million in seed funding to date, has thousands of users across North America, Europe, Asia, and Africa, and is set to launch on Android.
30. 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 (?)
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.
31. Start a bakery
Everyone loves baked goods, be it sweet items like cakes, muffins, and cookies or savory baked food like pizzas, buns, bread, and puff pastry. Baking takes a lot of effort and patience, which is why many people buy baked items from stores or restaurants instead of baking them at home.
Starting a bakery can be a rewarding business opportunity if you have a passion for baking. If you plan to start a bakery, consider that happy customers often become repeat customers. Therefore, always focus on quality and work on customer satisfaction.
To start a bakery in Bosnia, pick an ideal format. Some options include:
- Counter-style bakery
- A hybrid bakery with a cafe,
- Food truck with a bakery
- Home bakery.
Write a suitable business plan and choose the correct location.
How much you can make: $2,500 — $25,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 60 days (?)
French chef and founder of online bakery Pastreez, Anthony Rosemond, shares keys to success including validating ideas with the market, focusing on SEO and organic growth, building customer relationships through email and SMS, never offering discounts but offering freebies, and diversifying the business with new products and content on social media.
32. Start a cleaning business
Starting a cleaning business is an excellent opportunity to be your boss and make money doing what you love. This business is relatively easy to create and does not require much equipment or funds.
There are many cleaning services, so deciding what services (or combination of services) you will offer and what hours of the day or week those services will be available is essential.
To start cleaning service in Bosnia, you’ll want to consider investing in professional cleaning equipment such as a vacuum cleaner, a quality mop, and a good cleaning bucket. You will also need to buy environment-friendly cleaning products such as detergent, bleach, paper towels, and trash bags.
How much you can make: $2,000 — $708,333/month
How long does it take to build: 90 days (?)
MaidThis®, launched by Neel Parekh in Los Angeles with just one cleaner in 2013, has achieved over $10 million in total revenue by focusing on cleaning Airbnbs and vacation rentals, thanks to its successful remote business model and new-age marketing tactics, and has now launched MaidThis Franchise to expand the business further.
33. Start a furniture business
The furniture industry involves designing, manufacturing, and selling various types of furniture for household and commercial purposes. With the increase in flexible workspaces and the real estate industry’s growth, the furniture business’s demand is boosted.
The furniture business is easy to start and does not require high investments. However, it is first essential to know your niche, for example, office, domestic, home furniture, and luxury items.
The furniture business needs a lot of preparation and prior knowledge. Taking business classes, learning about your local market, and making a solid business plan is advisable. In general, if your products are unique and one of a kind, consumers will be willing to pay a higher, including the shipping cost.
How much you can make: $1,700 — $999,999/month
How long does it take to build: 120 days (?)
Sasha Weekes, owner of Timber Grove Studios, turned her fine arts and cabinetmaking education into a successful home-based woodworking business that grew from a side project to netting 20-50% profits month-to-month and up to $10,000 in sales during peak periods through Etsy, with her company's growth continuing to increase through other social media outlets.
34. Start a stock video business
Stock video is pre-filmed footage that can be purchased and used in various projects and films. Like stock photos, copyrighted stock videos cannot be used without permission and licensing from the rightful owner.
Businesses and filmmakers use licensed stock footage as they save money and hours, they would need to create original footage. Starting a stock video suitable for use in commercials and entertainment can be a great venture.
How much you can make: $10,000/month
How long does it take to build: 197 days (?)
VideoPlasty, an affordable and easy-to-use platform for buying pre-made stock animation elements and GIF images, has attracted over 600,000 visitors since its launch, with over $100k in revenue in 2020 alone, thanks to free organic traffic from YouTube tutorials and optimized SEO.
35. Start a hotels business
If you are considering starting a hotel, then it is time to implement your plan. There are five key elements to understand if you want to succeed in this industry: location, size, budget, experience, and market demand.
Here are some tips to consider before forming a hotel:
- Name your business
- Decide on a marketing strategy
- Start by renting out a room in your home.
- Hire a business capital broker
- Try Airbnb
- Make a marketing plan
- Offer complementary services
How much you can make: $15,000/month
How long does it take to build: 325 days (?)
SKNMUSE, a premium beauty brand dedicated to elevating the beauty experience for Black Women, has a 40% customer retention rate, achieved a 169% increase in revenue, and made $30,000 in Q1 alone.
36. Start a hair product line
Starting a hair product line can be a fun and profitable way to build a new income stream. It's also fairly easy, as long as you plan it out (and maybe do a little bit of market research before creating your sales funnel). There's a reason we often talk about trends in hip-hop and pop culture when we talk about hairstyles — they often have a lot to do with advancements in the hair product industry. The industry is expected to grow to 102 billion dollars by 2024.
How much you can make: $550 — $2,000,000/month
How long does it take to build: 365 days (?)
Private Label Extensions is a hair distribution and technology company that builds hair brands from A to Z for entrepreneurs, achieving over $650,000 in monthly sales and ranked #278 of the fastest-growing companies by Inc Magazine for 2018.
37. Become an Airbnb host
If you are interested in becoming an Airbnb host, the first step is to create a listing for your property or a portion of it on the Airbnb platform.
This will allow travelers from all over the world to rent your space and enjoy a personalized and unique accommodation experience.
By creating a welcoming atmosphere and providing excellent service to your guests, you can enhance your profile and attract even more visitors to your property.
With the potential to earn a steady stream of passive income, becoming an Airbnb host can be an excellent way to monetize your property.
How much you can make: $1,333 — $270,000/month
How long does it take to build: 215 days (?)
HostButlers is Ireland's first professional property concierge service for short-term rentals on Airbnb, boasting over 200,000 hosted guests and profitability from month 5.
38. 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 (?)
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.
39. Start a virtual call center business
Do you enjoy helping people and talking on the phone? If you want a business that provides flexibility regarding working location and time, consider starting a virtual call center business.
A virtual call center can be a lucrative low capital and a work-from-home business. Here is a list of what you need to start a virtual call center business:
- Select a specialty area/niche
- Buy computers and call center software
- Find clients
- Focus on growing your business
When starting a virtual call center business, some clients may require you to use their defined call center software.
How much does it cost to start: $5,000 (?)
How long does it take to build: 365 days (?)
40. Start a transportation service
Transportation businesses offer ridesharing services, haul consumer goods, or ship supplies and products from one location to another. They target individual passengers, other companies, or global business partners.
If you are starting a transportation service in Bosnia, decide who and what you will serve, set up the business structure, register the business, and apply for the required business licenses or permits. To ensure a profitable business, incorporate proper hiring procedures and keep up with maintenance and recertifications.
How much you can make: $12,000 — $364,000/month
How long does it take to build: 410 days (?)
Mirai Flights is an app-forward private jet booking service with a focus on UK, Europe, Middle East and CIS states, that allows customers to bypass the long wait times with more than 30 parameters analysed in less than 30 seconds, achieving $4.37m turnover from March to December 2021, and planning to increase it up to $10.2m and expand internationally in the future.
41. Start a healthy food processing business
With the growing preference for healthy and functional food, starting a healthy food processing plant can be rewarding.
The advancements in the food processing industry, innovation in processing technology, and continuous growth in demand for processed food are some excellent reasons to consider opening a healthy food processing business.
To start a healthy food processing plant, find out a market gap, and research the demand. Understand customers changing tastes and focus on offering the best throughout.
How much you can make: $52,944/month
How long does it take to build: 90 days (?)
Bluebird Provisions Bone Broth is North America's fastest-growing bone broth brand, doing 49,000 per month and growing 50% YoY, with 5000% growth in customer base since starting, thanks to an SEO-focused strategy, email marketing, referrals, and Amazon.
42. Start a restaurant
If you love cooking and are passionate about entrepreneurship, starting a restaurant can be a fun and lucrative business.
To get started, choose a great location, and hire an excellent support team. You will need a chef to inspect the food and line cooks, waiters, and waitresses to serve the customers. No matter the restaurant type, you need great culinary and business skills to make your dream come true.
If you plan to open a restaurant in Bosnia, gain insight from consumer preferences and focus on serving modern consumers what they need.
How much you can make: $48,333 — $61,650,000/month
How long does it take to build: 120 days (?)
One Life Meals is a Toronto-based healthy meal delivery service that made 14,500 meals per month and generated $130k in monthly sales in 2018 through their one-on-one consultation, lean protein and seasonal veggies-based meals, and their focus on the client experience.
43. Start a hotel booking platform
The explosively popular Airbnb and countless similar services have proven that the market for home and apartment rentals is growing rapidly.
As an entrepreneur who loves travel, you see an opportunity to extend this model to hotels.
That’s why you start a hotel booking platform where travelers can search for and book accommodations worldwide.
The market size of the online hotel booking platform industry worldwide amounted to nearly $518B in 2020.
Starting a hotel booking platform can be so interesting as an idea that can proliferate. It doesn’t require any license, no inventory — only mobile phones, an internet connection, and some motivation to succeed.
How much you can make: $114,200,000/month
How long does it take to build: 180 days (?)
44. Start an online course sales business
Do you know you can make money selling what you are passionate about? People are making money creating courses and selling them online. Common online courses include music, cooking, coding, web design, dropshipping, etc.
Thus, you can turn it into a passive income by launching online classes if you have a skill. All you need is to choose a target audience, create the online course and choose an online learning platform where you can sell the course.
The e-learning market is expected to be worth over $645 Billion in the next few years.
How much you can make: $100 — $1,666,666/month
How long does it take to build: 190 days (?)
A multipreneur shares how she built a successful print on demand side hustle, generating $120,000 per year through multiple brands spread over various platforms.
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