The 29 Best Business Ideas To Start In Cyprus [2024]
Interested in starting a business in Cyprus in 2024?
We put together 29 of the best businesses you can start in Cyprus today.
In this list of ideas, you can find:
- Home-based businesses to start in Cyprus
- Profitable online business ideas
- Unique business opportunities for Cyprus
- Low investment business ideas (under $5k to start)
- Easy businesses you can start in Cyprus 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 Cyprus.
Here's the full list:
1. Start a gaming marketplace
How much you can make: $3,750 — $1,000,000/month
How long does it take to build: 14 days (?)
Overgear, a gaming marketplace offering assistance and training in WoW, Path of Exile, Destiny, Call of Duty, and Valorant, saw over $8 million in revenue and a 6x increase in clients in the past year by prioritizing user experience and customer retention through SEO and Google Ads, reinvesting profits, and creating a user-friendly product, amongst other things.
2. 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 (?)
Spapp Monitoring is an Android tracking app for parents and employers, started as a side project and now making $300k a year through organic traffic from Google Play and the company's website.
3. Start a boutique
You may consider opening a boutique if you are passionate about the fashion and textile industry.
A boutique is a shop that sells clothes. Opening a boutique is a dream for entrepreneurs who want to experience the joy and freedom of owning a cash business. Starting a boutique is easy and can be managed by a single individual. In addition, a boutique requires a comparatively smaller capital to start.
To succeed, the boutique owner must coming creativity and passion.
How much you can make: $10,000 — $25,000/month
How much does it cost to start: $100 (?)
Boutique Rye is an online-only women's clothing and accessories boutique that has grown to 3,200 Facebook Group members and a successful website through organic customer sharing, live sales, and open communication with customers.
4. Start a food truck
Food trucks are a highly profitable business that offers customers a variety of meal options out of a mobile truck. This basically operates inside a large vehicle equipped with kitchen and food products. Starting a food truck is a dream for many people, but it's more challenging than it looks. To make it work, you need the ideal location and menu.
To start a food truck business in a particular city, it is mandatory to check what kind of food trucks are already operating, identify a gap, and bring in some new experiences. Then, with the right plan and the right approach, you can be on your way to starting your own food truck empire.
How much you can make: $29,166 — $61,650,000/month
How long does it take to build: 75 days (?)
Time commitment per week: Min. 5 hours/week
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.
5. Start a supplements company
A supplement business makes money by selling dietary supplements, vitamins, protein powders, and health foods to customers.
These products are often sold directly to customers or through distributors and retailers.
Your target customers will likely include fitness enthusiasts, health-conscious individuals, wellness influencers, and those who prioritize their nutrition daily.
Starting a supplement brand is becoming increasingly popular because it's relatively inexpensive, and you can run the business from your home.
How much you can make: $1,000 — $3,500,000/month
How long does it take to build: 220 days (?)
A military officer turned entrepreneur built sports nutrition brand Bare Performance Nutrition from $15,000 in year one to on track to generate $6m in revenue this year, leveraging social media platforms and creating interactive, relatable and valuable content to create a community and a brand voice.
6. Start a golf club brand
Golf is surging in popularity, and golf clubs and grips are increasingly in short supply globally. Reports indicate that more money is spent annually on golf clubs and balls than other sporting equipment. Another factor responsible for the increased demand for golf clubs is the new technology that increases club performance.
Therefore, starting a golf club brand to satisfy the increasing demand for golf clubs can be a profitable business.
If you are planning to start a golf club brand, research the market and understand the features golfers want in golf clubs.
You can set up a golf club manufacturing business that uses the latest technology to enhance players’ performance. Alternatively, you could find a manufacturer of golf clubs and start a golf club distribution business as a retailer or a wholesaler.
How much you can make: $1,000,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 580 days (?)
BombTech Golf is an ecommerce business that sells premium golf clubs direct-to-consumer; the BombTech Driver, which was the company's flagship product, was launched in 2017 and contributed to $6.3 million in sales that year, with the founder having designed the club with the help of engineering students at a local college before using Facebook to engage his audience in the design and production process.
7. Start a consulting business
Consulting businesses are booming, more so than ever before, and seeing year-over-year growth. With an accumulated value of about $250B, the global consulting industry is one of the biggest markets within the professional services sector.
If you want to start your own consulting business with valuable insights from industry experts, reading about their entrepreneurial journey will help you decide how you should go about it.
How much you can make: $100 — $2,500,000/month
How much does it cost to start: $1,000 (?)
How long does it take to build: 60 days (?)
Cybersecurity consulting firm Eden Data, launched in March 2020, scaled to four team members and generated over $45k MRR without large startup costs through their unique Virtual CISO offering, which outsources cybersecurity and compliance needs for a flat monthly price, rather than charging by the hour or for long-term commitments.
8. 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.
9. 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.
10. Start a web development business
A web development business is a company that builds and takes care of websites. They typically use coding and design skills to create online spaces that meet the needs of individuals or businesses.
These businesses help ensure websites work well and look good, playing a key role in the online presence of their clients.
How much you can make: $6,600 — $350,000/month
How much does it cost to start: $3,000 (?)
How long does it take to build: 75 days (?)
Vuetify is a popular open-source user interface library, built with the Vue.js framework, that generates revenue through digital content and services such as paid digital content in the Vuetify store, direct support through consulting, ad revenue from Carbon ads on the documentation pages, and donations/sponsorships via GitHub and Patreon, generating an average income of $6,500 per month.
11. 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.
12. 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 Cyprus, 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.
13. Start a packers & movers business
Packers and movers are service providers that pack and move customers' belongings, easing the relocating experience from start to end.
The moving and packers' industry is set to experience growth over the next decade. The growing population and influx of multinational corporations are reasons for the current and anticipated demand for moving and packers' services.
Therefore, starting your movers and packers' in 2024 can be rewarding if you ensure the right business approach.
To start, identify the niche, prepare a business plan, and acquire the necessary equipment and freight. An online presence is essential for running the movers and packers. A website and active social media presence will advertise your business.
Besides, you must ensure proper competitor research to focus on strategies to help your business stand out.
How much you can make: $60,000 — $2,500,000/month
A 23-year-old founder started a moving company that now averages $115,000 a month in revenue and has record monthly sales of $158,000 by prioritizing customer service and using simple, common sense practices like friendly movers and a transparent pricing structure.
14. Start an auto repair business
Many people just love to tinker with, fix and repair cars. This is an all-consuming hobby for some people. They like to take things apart and figure out how things work. The process of fixing and repairing cars is almost therapeutic for them.
An auto repair business is a rewarding way to make extra money or build an entire business.
You can do it in the comforts of your own home, working around your schedule and getting paid handsomely for it. The United States automotive service market is expected to reach $75B by 2026.
How much you can make: $415,000/month
How long does it take to build: 40 days (?)
Finish Line Towing & Auto Repair is Wisconsin's largest roadside assistance provider, bringing in $5 million in annual sales through its dedication to customer service, effective dispatching, and clean service, with a goal of expanding to other markets in Wisconsin and Illinois.
15. Start a co-working space rental business
The co-working spaces are becoming essential in the post-pandemic world. Experts estimate five million people will occupy coworking spaces in the next few years. The projections are based not only on the growth the coworking industry has experienced over the past few years but also on the sharp increase in the number of startups coming up each year.
Therefore, creating your coworking space business will become a lucrative opportunity. To create a coworking space, do proper market research to ensure you have the demand for a co-work space in your target area.
Then, focus on finding an ideal location to attract the maximum number of customers.
How much you can make: $4,000 — $300,000/month
How long does it take to build: 90 days (?)
The founder of The Farm Soho, one of the earliest New York City co-working spaces, shares how he built his affordable workspace model for solopreneurs and startups, as well as discussing his tips for attracting and retaining customers while navigating the challenges of running a business.
16. Start a web hosting service
White label web hosting or reseller hosting is the ability to re-sell another hosting company’s servers. The hosting service provider allows a white label reseller to take their platform and add their branding to offer the service to their customers.
A white label hosting reseller licenses existing technology, rebrands it to match the company’s logo and colors, and offers the service to their clients.
How much you can make: $2,000 — $30,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 75 days (?)
Case study on SEO consultancy and affiliate marketing business generating over $360k per year with over 700k monthly visitors, with insights on building valuable content, conducting extensive research, and working with a skilled and dedicated team.
17. 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.
18. Start a taxi cab business
If you are an experienced driver and know your city well, starting a taxi cab business can be a very lucrative side hustle.
Here are the steps on how to start a taxi cab business.
- Secure your business licenses
- Secure financing and purchasing equipment
- Purchase a commercial insurance
How much you can make: $250,000/month
Albert Williams grew a $3.5 million transportation company, The Best Deal, from a niche transportation sector; he attributes the company's success to providing excellent service and committing to continuous learning.
19. Start a car rental business
Starting a car rental business can be a profitable venture for those interested in the auto industry.
Retail and corporate are the main segments within the car rental industry. Retail car rentals focus on individuals who rent cars for shorter periods, while corporate car rental targets companies that want to transport clients or employees.
If you are starting a car rental business in Cyprus, target airports, hotels, railway stations, commercial offices, and other high-traffic areas.
Market your business, hire employees who will manage the operations and keep records, and purchase business insurance for both cars and employees.
How much you can make: $2,000 — $583,333/month
How long does it take to build: 90 days (?)
ROAMERICA, a campervan rental company founded by Taylor Hood and Gretchen Bayless who quit their full-time jobs to focus on their business and have expanded their fleet quickly to meet the demand of adventure-seeking customers, with most of their web traffic coming from organic Google searches and a focus on social media and brand awareness.
20. Become a meditation coach
A meditation coach teaches and guides those who seek mental clarity through meditation. The meditation teacher typically combines breathing and concentration to deepen understanding and help the clients achieve relaxation.
Working as a meditation coach allows you to guide clients in finding new practices and techniques that may provide additional health benefits in their daily lives. In addition, meditation coaches earn a decent salary and enjoy the opportunity to define their working hours while building relationships with people from different backgrounds.
How much you can make: $3,000 — $8,333,333/month
How much does it cost to start: $5,000 (?)
How long does it take to build: 180 days (?)
Meditation company MindEasy offers personalized, relevant courses to help people find their way into mindfulness and meditation in a way that helps them achieve their career and personal goals, with focus on mental optimization, health and wellbeing, and spiritual approaches.
21. Build a chrome extension
A Chrome extension is a small software program that allows you to customize the way your web browser works. Extensions can add new features to your browser or change the way existing features work.
If you have skills in programming and coding, you can create your own Chrome extension and then sell it on the Chrome Web Store. You can also offer it for free and generate revenue through advertising. This is a great way to leverage your skills and create a business that can be profitable.
You can create an extension that helps people with their productivity, or you can create an extension that provides security for the user’s data.
Creating a Chrome extension is an innovative way for programmers, developers, and coders to start their own businesses and showcase their skills.
How much you can make: $10 — $17,366,666/month
How much does it cost to start: $3,500 (?)
How long does it take to build: 50 days (?)
SkyVerge, a software company, has grown rapidly with revenue of $350,000 per month, over 100,000 eCommerce customers, and a globally distributed team of 30 people, all through starting with consulting projects and building focused and solutions-based products, acquiring small products from other developers, and focusing largely on content marketing and providing excellent customer support.
22. Start an online cooking business
If you love to cook and want to start a business online, there are several opportunities that you can explore. Here are a couple of different approaches you can take:
- Sell your recipes online
- Become an influencer or blogger
- Conduct online cooking classes/courses
Here are some benefits of starting an online cooking business:
- You can have flexible working hours
- You can start the business from your home
- It requires a small investment
- Cooking business is a rewarding work
How much you can make: $7,500 — $417,000/month
How much does it cost to start: $100 (?)
23. Become a contractor website creator
A contractor website creator business is the best way to give yourself freedom and flexibility with your time. A contractor website is an important asset for companies like plumbers, electricians, painters, handymen, and other contractors. As a website creator, you can deliver this valuable digital asset, which is maintained and updated by you on a regular basis.
The contractor economy revolves around having a website. Worldwide Website Builders Market was valued at $1.5B in 2019 and it is growing rapidly. if you don’t have a website to promote your contracting business, you’re severely limiting your ability to get more work. Having a website reveals many aspects of your business including skill sets, and past projects, and most importantly it demonstrates credibility and trustworthiness.
How much does it cost to start: $500 (?)
How long does it take to build: 28 days (?)
24. Start a recruiting agency
The global online recruitment market size was $29B in 2019 and is projected to reach $43B by 2027.
The best way to assess the success of a Recruiting Agency is to review what their clients say about them and the results achieved for those clients.
As a recruiter, you dream of landing your first client, but once you do, you realize it’s only the start of what you hope will be a successful business. Have you ever wondered how to start a recruiting agency business? There’s so much you can learn from books, but nothing beats getting real-world experience.
How much you can make: $100 — $320,000/month
How long does it take to build: 90 days (?)
DistantJob is a unique recruitment agency that specializes in finding full-time remote employees, and with $3 million in annual revenue, they offer small to medium-sized tech companies an edge over big competitors who are not willing to hire remotely.
25. Start a cleaning & maintenance business
A Cleaning & Maintenance business is a service-based business in which you are the owner, operator, and lone employee. In a cleaning and maintenance business, you provide a specific service such as carpet servicing or pest control. It's important to note that although it seems straightforward, this business type can grow very quickly if done properly.
Cleaning and maintenance can be a real hassle, especially if you have a lot of employees or just your own staff. The cleaning and maintenance industry generates over $40B a year in the US alone. This makes it one of the largest, most competitive industries in the USA.
Starting a cleaning and maintenance business in Cyprus is pretty easy. You can start small with residential clients or businesses. Just make sure you check with your local government to ensure licensing (or certification) requirements.
How much you can make: $60,000 — $250,000/month
How much does it cost to start: $425 (?)
How long does it take to build: 60 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.
26. Become a landlord
Investing in rental properties and becoming a landlord is a lucrative way to earn money in the real estate industry.
By purchasing properties and leasing them out to tenants, you can generate a steady stream of income through monthly rent payments.
In recent years, renting has become increasingly popular, making it an opportune time to dive into this market.
Aside from providing a source of cash flow, being a landlord also offers the potential for long-term investment gains and the freedom to be your own boss in managing your properties.
27. Start an auto parts shop
If you want to start a retail business in the automobile industry, consider an auto parts business in Cyprus.
The auto parts business is one of the most successful businesses in the world. There are many Auto Parts Businesses in the United States, Canada, and the UK, where most are part-time.
Listed are the steps on how to start an auto parts shop business.
- Pick a location
- Do your market research
- Secure all permits and licenses
- Open a bank account for business transactions
How much you can make: $45,000 — $600,000/month
This case study follows an inspiring 22-year-old entrepreneur who started an eCommerce store for aftermarket vehicle accessories, making 5x the amount of money he used to make per month, and generated over $90,000 in sales last year.
28. 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 Cyprus, 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.
29. 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.
- 4,818 founder case studies
- Access to our founder directory
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- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
