The 54 Best Business Ideas In Ecuador [2024]
Interested in starting a business in Ecuador in 2024?
We put together 54 of the best businesses you can start in Ecuador today.
In this list of ideas, you can find:
- Home-based businesses to start in Ecuador
- Profitable online business ideas
- Unique business opportunities for Ecuador
- Low investment business ideas (under $5k to start)
- Easy businesses you can start in Ecuador 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 Ecuador.
Here's the full list:
1. 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: $2,250 (?)
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.
2. 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.
3. 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: 44 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.
4. Become a mobile personal trainer
Do you love helping people through their fitness journey? If you want a great side hustle to earn extra income, consider becoming a personal trainer.
The fitness trainer side hustle can be an adamant industry to earn good money. However, once you develop a reputation as a good trainer, you can get more clients through referrals. You need to register for the certification course to start offering personal trainer services in Ecuador.
To attract your first clients, consider online advertising, and seek referrals from every customer.
How much you can make: $600 — $8,333,333/month
How long does it take to build: 532 days (?)
Time commitment per week: Min. 4 hours/week
Live Fit, a personal training company founded in 2011, grew from earning $80,000 in their first year with two trainers to earning over $760,000 in 2019 with 12 trainers and two locations, thanks to a focus on building trusting relationships and providing a variety of services to clients.
5. Create an online course
An online course business involves creating and selling digital classes teaching specialized skills or knowledge to subscribed students.
As an entrepreneurial course creator, you identify educational gaps around topics you have expertise in and develop engaging video lessons and supplementary materials.
With flexibility around self-paced or cohort-based structures, building a student base provides passive income potential.
For founders who enjoy information-sharing, launching an online course platform presents a lucrative way to monetize your instructional talents with small startup costs by serving eager lifelong learners seeking convenient access to emerging subjects.
How much you can make: $350 — $3,735,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 90 days (?)
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.
6. Start a 3D Printing Business
3D printing is a process that assembles objects layer by layer and starting a business in this industry can be a very creative venture.
You will need investment in the right equipment and materials, and the acquisition of 3D modeling and design skills. You will also need to regularly calibrate and maintain your 3D printers to deliver consistent results.
Plan how you'll handle shipping and logistics, and leverage technology to find new applications of 3D printing in all industries.
How much you can make: $42,000 — $330,000/month
How long does it take to build: 360 days (?)
Founder Roy Kirchner shares how he started an eCommerce business specializing in 3D printing with an initial investment of $65,000, which now averages monthly gross sales of $330,000 and has partnered with international manufacturers and local businesses while offering technical support and education.
7. Start a soap business
Soap-making business is a growing industry that can be home-based or a small local business. Soap business is one of the most lucrative home-based businesses that perfect your decision to work in your free time while you earn good cash.
Starting a soap business sounds simple enough. You can buy supplies for probably less than $1,000. Popular skincare products are now being sold online, and this doesn’t seem like a challenging field to break into. Below are some success stories of the soap business that will inspire you.
How much you can make: $1,000 — $600,000/month
How much does it cost to start: $1,000 (?)
How long does it take to build: 227 days (?)
Outlaw Soaps, a soap company that started with just $13.72 of supplies, now makes an average of $23,000/month, with 46% of website orders from repeat customers who are loyal to the company's unique products and top-notch customer service.
8. Start a mobile app development business
Mobile app development is the process of creating software applications that run on mobile devices. These apps can be used for a variety of purposes, including games, productivity, and social networking.
Starting a mobile app development business is a great way to enter the world of software development. This type of company is growing in popularity as businesses are looking for ways to reach their customers through mobile apps.
To start a mobile app development company, you need to have strong technical skills and be able to develop high-quality software. You should also have a good understanding of how to market and sell mobile apps
How much you can make: $7,500 — $2,333,333/month
How much does it cost to start: $7,500 (?)
How long does it take to build: 120 days (?)
"We started a custom iOS and Android app development consultancy that now makes nearly seven-figures a year by landing clients like Great Clips and the USA CUP after building successful concept apps."
9. Start a cosmetic store
The cosmetic industry is growing rapidly. Starting a cosmetic shop can be highly profitable, but only if you stock trendy, skin-friendly products.
If you are passionate about the beauty industry, consider starting a cosmetics brick-and-mortar shop.
Cosmetic shops sell products ranging from anti-aging, aromatherapy, lotions, beauty spa, cosmetic store, and even make-up.
To start a cosmetic store, research the market and source products from well-known brands in the beauty industry.
How much you can make: $8,500 — $490,000/month
How much does it cost to start: $800 (?)
How long does it take to build: 60 days (?)
A former felon's passion for makeup and skincare led her to launch FBI Cosmetics, which has grossed over $62,000 in sales since July 2020, through social media marketing, brand partnerships, and online sales at Walmart.com.
10. Start a web design & online marketing business
If you know about website design and marketing concepts then starting your own web design and online marketing business could be the perfect opportunity for you to do so.
The online marketing industry is the second largest industry in the United States and continues to grow. The online marketing industry is massive. It is estimated to grow by 30% annually, reaching $400B in the next four years.
How much you can make: $6,000 — $800,000/month
How Shannon Mattern built a DIY web design training business from scratch that now generates $10k/month in revenue through affiliate commissions and courses, without outside investment or debt.
11. 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 Ecuador, 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.
12. Become a software developer
A software developer is a person who creates computer programs. They design, test, and oversee the creation of software for a variety of purposes including businesses, personal use, or social networking.
If you have strong technical skills and experience in programming, you can start a software development business. You should also have a good understanding of how the software works.
The average salary for software developers is $110,140. The best-paid 25 percent earn an annual income of up to 140K dollars while the lowest-paid workers make just under 84K dollars.
The recent trends in software development are moving towards mobile apps and cloud-based solutions. Businesses are providing a variety of programming languages and tools to create software that meets the client's needs.
Starting a software development company is the perfect way to explore in this exciting industry. This type of business is growing in popularity as businesses are looking for ways to offer their customers a convenient way to access their data and applications.
How much you can make: $1,700 — $465,583,333/month
How long does it take to build: 180 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.
13. Start a tutoring business
Starting a tutoring side hustle is a great way for teachers and students to earn extra monthly income.
If you are considering becoming a tutor, find an ideal tutoring niche, and craft a tutoring website.
Then, find your tutoring clients and market your side hustle online. You can choose to offer online tutoring as a part-time or full-time engagement.
How much you can make: $1,000 — $375,000/month
How much does it cost to start: $100 (?)
How long does it take to build: 15 days (?)
Time commitment per week: Min. 5 hours/week
A 22-year-old entrepreneur started an online SAT/ACT tutoring company from his bedroom which has seen a linear increase in student sign-ups each month, currently bringing in an average revenue of $15,000 a month and plans to triple in 2020.
14. 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 Ecuador, 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.
15. 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 Ecuador, 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.
16. 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 Ecuador 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.
17. 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.
18. 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 Ecuador, 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.
19. 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.
20. 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: $3,055 (?)
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.
21. 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.
22. 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 Ecuador, 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.
23. Start a real estate business
Are you a qualified architect with a broad range of knowledge in the real estate field? Starting a real estate business can be a profitable venture.
Real estate involves purchasing, selling, managing, or investing in land and buildings.
To become a successful real estate business owner, you must have finely honed visual awareness and a strong understanding of various building materials and structures.
How much you can make: $5,000 — $1,500,000/month
How long does it take to build: 180 days (?)
This case study is about T. C. Lewis & Co, a real estate investment and management firm that successfully diversified their approach to include sales, development, remodeling, and construction, with property management being the key to investor doors and organic growth.
24. 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 Ecuador. 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.
25. Start a saas company
SaaS (Software as a Service) is software that allows users to access and use it over the internet. It is a subscription-based service that provides users with access to software that they can use for their business. It offers a variety of features, including a project management tool, an automation engine, and a workflow designer.
To start a SaaS company you should be familiar with the SaaS business model and have a good understanding of how to build and market a SaaS product. You should also have strong technical skills and be able to develop a high-quality software product.
Salesforce is one of the best SaaS companies in the world. Salesforce provides an integrated CRM platform that brings companies and customers together. The company is one of the most innovative cloud software solutions providers on the market, generating nearly all its annual recurring revenue from SaaS tools. According to Salesforce's latest financial reports, the company's current revenue (TTM) is $26.49 B.
Starting a SaaS company is a great way to enter the tech industry. This type of company is growing in popularity as more businesses are looking for ways to save money and reduce their IT costs. SaaS companies typically have high margins and offer a lot of flexibility for entrepreneurs.
How much you can make: $500 — $166,666,666/month
How long does it take to build: 90 days (?)
Time commitment per week: Min. 5 hours/week
AI-powered web application, Excelformulabot.com, generates Excel formulas within seconds for a subscription fee of $6.99/month or free for five formula requests per month, resulting in $14k/month in recurring revenue since its launch in September 2022, accruing millions of visitors through word of mouth, influencer marketing, SEO, and PPC, implemented through no-code web application Bubble.io, while preparing to penetrate a B2B market and focus on B2B outreach in the future.
26. 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.
27. Start a beverage company
Are you thinking of starting a beverage or drink business?
Starting a beverage company can be a great way to combine your love of food and drink with a passion for entrepreneurship.
Beverage companies can make all sorts of different drinks, from juice to soda to beer. They can also sell other types of food products, like bottled water or snacks.
There are more and more drink options available today than ever before—and that means that beverage companies are constantly trying new things in order to stay competitive in this space! The more innovative they can be with their offerings, the better they'll be able to compete with one another
How much you can make: $500 — $200,000,000/month
How long does it take to build: 250 days (?)
BruMate is a successful insulated drinkware brand focused on the adult beverage community, with a flagship product that generated $2.1M in sales in 2017 and is now doing over $1.1M per month in sales, with plans to do $20M this year.
28. Start a skills training business
It is a great idea to start a skill training business with a website-oriented online presence, aimed towards helping people learn new skills. Starting your own skills training business doesn’t require a lot of money, but it can have a significant impact on your life and others.
The global skills training market is expected to reach $47.2B by 2027. If you’re looking for financial freedom, starting your own skills training business is the way to go. Training clients and building an impressive portfolio will allow you to charge higher rates and start living the life of your dreams.
How much you can make: $1,500 — $1,600,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 90 days (?)
A one-man business teaching people how to use Microsoft Excel effectively has gone from getting ~15k pageviews a month in 2014, to more than one million pageviews every month as of today, generating an average monthly revenue of ~$10,000, with the majority of the money coming from online course sales and a newsletter, which has 40k+ active subscribers.
29. 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.
30. 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: 60 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.
31. 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.
32. 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 in Ecuador, 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 (?)
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.
33. Open source library
Open-source libraries become a widely used method of software development, stories from some of the top names in the field can help you with your development or help build your confidence in adopting this methodology for your own projects.
Open-source libraries have a lot to offer the world of programming. The potential for improvement and simplification of a wide range of computer applications is huge. However, with so many options available, how are developers and architects to see which ones are right for them? Following open-source library success stories that could help you determine your best options.
How much you can make: $3,000 — $13,083,333/month
Time commitment per week: Min. 3 hours/week
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.
34. 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.
35. 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 Ecuador, 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.
36. 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.
37. 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.
38. Start a mobile auto detailing service
A mobile carwash business reaches clients whenever possible and offers its services conveniently. Therefore, car owners do not need to drive to different locations looking for a car wash, as the mobile service provider is there for the client.
The advantage of offering a mobile car wash business in Ecuador is that clients will call you to their location whenever they need their vehicles cleaned. You can serve more customers based on convenience compared to an immobile car detailing business.
How much you can make: $5,000 — $20,000/month
How much does it cost to start: $2,500 (?)
How long does it take to build: 30 days (?)
Learn how former tech salesman, Matt Paskow, left the industry to start Fresh Look Mobile Auto Detailing, a profitable mobile auto detailing business generating around $5k per month that focuses solely on SEO, Google AdWords, and Google My Business for marketing.
39. Become an online dating consultant
An online dating consultant is a person who provides advice to people in the world of Internet dating. An online dating consultant can help you direct your profile, help you write your first message to an online match, and help you make a great impression on your date.
Online dating can potentially be one of the world’s most remarkable customer service industries.
How much you can make: $5,200 — $11,250,000/month
How long does it take to build: 45 days (?)
The Match Artist helps singles take amazing photos for their online dating profiles through a 3-hour executive shoot, coaching, and email course, pioneering a new genre of photography, with an average monthly revenue of $5,000-$6,000 and a plan to double down on paid ad campaigns in the future.
40. Become a delivery driver
The delivery driver side hustle can be a fantastic idea if you own a delivery car and a valid driver’s license. Receiving deliveries at home or at the office has become an almost undeniable convenience for most people. There are more and more platforms that deliver all kinds of products and, therefore, the demand for couriers is also increasing.
As an independent delivery driver in Ecuador, you choose your most convenient working hours, and the more deliveries you complete, the more your earnings. Besides, you interact with a wide range of people from different backgrounds.
Your core roles will include loading and unloading cargo, delivering goods to the customer, accepting any payments for shipments, and handling paperwork.
How much you can make: $4,000 — $25,000/month
How long does it take to build: 90 days (?)
Time commitment per week: Min. 10 hours/week
Muver is a mobile app for gig workers allowing them to multi-app seamlessly between Uber, Uber Eats, Doordash, Grubhub, Lyft, Instacart, and more within a single app with over $270k revenue in the past 12 months.
41. 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 Ecuador, 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.
42. 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 (?)
43. Start an online jewelry store
The online jewelry store industry has been growing rapidly. More and more people are buying cheaper jewelry online because it is easier and has a much more extensive selection.
The United States jewelry market was valued at about $76B in 2020, and diamond is considered to be the most valuable and lucrative among all forms of jewelry.
If you’re considering starting an online jewelry store to tap into this market, it’s crucial to choose the right e-commerce platform that can support your business needs and enable seamless transactions with your customers.
A great platform can help you showcase your products, manage your inventory, process payments securely, and provide an enjoyable shopping experience to your customers.
How much you can make: $1,000 — $833,333/month
How much does it cost to start: $7,500 (?)
How long does it take to build: 120 days (?)
Taylor & Hart CEO Nikolay Piriankov tells the story of the company's journey from a diamond trading business to an award-winning, disruptive e-tailer of custom-designed, ethical engagement rings and fine jewelry, offering a bespoke design service through specifically developed technology online and instore, and growing to £4-6M in annual revenue.
44. 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.
45. Start a smoothie business
Smoothie is a blend of whole fruits containing bananas, yogurt, honey, ice cream, and other ingredients.
Smoothie businesses attract health-conscious consumers, and their mass appeal has grown tremendously.
In the US alone, smoothie bars are a 3-billion-dollar industry. Therefore, starting your smoothie business can be a great idea from an entrepreneur’s standpoint. To start your smoothie bar, consider an ideal location, and ensure a proper shop format. The alternative smoothie shop formats include:
- Dine in Plenty of seating space: customers order and pay at the counter.
- Window only: Serves takeaway smoothies with customers ordering and paying at the counter
- Food truck: Mobile smoothie shop allowing you to connect with a more extensive customer
The rising popularity of healthy juices and the low startup cost makes the smoothie industry an appealing frozen food business idea.
How much you can make: $30,000/month
How long does it take to build: 180 days (?)
Simple Green Smoothies boasts a free 7-day smoothie challenge that has helped over 2 million people take control of their health and generates revenue with programs ranging from a 21-day cleanse to a plant-based meal planner, bringing in as much as $30k a month and also working to help women farmers in Cambodia build mushroom farms through World Hope International.
46. Start a craft beer business
Are you passionate about beer and ready to penetrate a niche within the alcohol industry? Craft beer is a potential business idea you may want to start.
Craft beer is an important and attractive niche consumer market with the potential to multiply profitability.
The good news is that starting your craft beer brewery is not as difficult as you think.
You can start brewing craft beer with nothing more than a bucket, a bubbler, a siphon pipe, and a kit. Eventually, you will start bottling your craft beer and delivering it to the market.
How much you can make: $56,000/month
How long does it take to build: 365 days (?)
Croatian craft brewery Varionica shares how they started with only 22 kegs and an old Opel Astra, grew to produce roughly 40,000 liters of beer per month, and expanded successfully during the pandemic through an online shop and retail store partnerships.
47. Sell used appliances
The global second-hand appliances market is flourishing rapidly due to the rise in the income of lower-class consumers. Further, the global market for second-hand appliances is anticipated to achieve a Y-O-Y growth rate of 7.45% in the next few years.
With the growing need for appliances rising, starting a used appliances business can be a way to earn extra cash or even a side hustle.
To get started, target the areas with a growing population or middle-income areas where consumers choose to save money on appliances by opting for gently used or refurbished appliances. Then, register your used appliances business and create a business plan.
Find an ideal location and complement it with an online presence.
You may purchase used appliances from the used appliances stores, social media sales pages, auctions, estate sales, and auction websites such as eBay.
48. Start an email marketing business
Email marketing is a popular and effective way for businesses to reach their target audience and promote their products or services.
With the rise of the internet and the increasing use of email as a communication tool, starting an email marketing business can be a lucrative and rewarding venture.
An email marketing business involves creating and sending marketing emails to a list of subscribers. The emails can be newsletters, promotional messages, or other types of content designed to engage and convert the recipient into a customer. The business owner is responsible for building and maintaining the email list, creating the content, and sending the emails using specialized software.
To start an email marketing business, you must have a strong understanding of marketing principles and a good grasp of best practices. This includes creating compelling subject lines, segmenting your email list, and analyzing your campaigns’ results. You will also need to be proficient in email marketing software like Mailchimp or Constant Contact.
To run a successful email marketing business, you must clearly understand your target audience and what they are interested in. This will help you create relevant and engaging content that resonates with your subscribers and encourages them to take action. A solid call to action in your emails is crucial, whether it’s visiting your website, making a purchase, or signing up for a newsletter. Starting an email marketing business requires marketing skills, expertise, and a willingness to learn and improve continuously. The right strategies and tools can be a rewarding and successful way to reach your target audience and grow your business.
How much you can make: $1,500 — $8,333,333/month
How much does it cost to start: $1,000 (?)
How long does it take to build: 60 days (?)
Boundless Labs is an email marketing agency for eCommerce brands that has generated over $25 million in email attributable revenue for their clients since launching 18 months ago and currently makes around $90K per month, with plans to reach $100K per month by the end of January 2020 through client referrals, strong relationships, and hard work.
49. Start an e-book writing business
An eBook business is profitable and flexible, letting you start a business from anywhere, while it is a low-cost business that is easy to start. You can make a living self-publishing and selling eBooks online as long as you are ready to invest your time and money in it.
Anyone can start an eBooks business! Just choose a niche that interests the target audience, and ensure in-depth research.
How much you can make: $2,000 — $62,500/month
How much does it cost to start: $67 (?)
How long does it take to build: 120 days (?)
Content-Whale, a content curation agency, has achieved a Rs. 4 crore ($514k/year) turnover 4-5 years after being started with just Rs. 2500 ($35), and has a pool of more than 500 writers, aiming to become a market leader in the global content market.
50. 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.
51. Start a grocery store
A grocery store sells a wide variety of food products, fresh or packaged, and other household & personal care items. The grocery store industry is the largest retail channel that makes $682 billion in the United States.
To start a basic grocery store, you can expect to spend a minimum of $50,000. Ideally, the bigger expense would be the rent, equipment, labor cost, cash registers/POS systems, and software. Some of these are recurring monthly fees. However, the location, size of the store, competitors, and local customers will significantly impact the business. A new grocer should sell more items for a lower price to make a more significant profit.
A new grocer can also save costs by buying the items from local distributors. The distributor is the middleman between the manufacturer and the grocery store selling it. Once the store cost and location are decided, the next step is to obtain a seller license. In most states, a grocer's license is required to run a grocery store.
Thus an average grocery store has a profit margin of 3% to 5%. The profit rates depend on the store's location, size, and popularity. On average, a small to medium grocery store can make a profit of up to $300,000 annually if all the profit factors are considered.
Another way to make your business more profitable is to diversify your store and add amenities like a coffee shop or stocking up the front of the store with magazines, batteries, etc., as these items can cross a margin of up to 70%. As a rule of thumb, offering lower prices on higher purchases will ultimately win more customers and increase profitability.
52. 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.
53. Become a candle manufacturer
Candle manufacturing is one of the best small business ideas you can start from home. Making candles comes with a low startup cost and does not require much equipment. If you plan to start a candle manufacturing business, hone your craft and get comfortable with the candle-making process.
How much you can make: $4,000 — $1,000,000/month
How much does it cost to start: $5,200 (?)
How long does it take to build: 90 days (?)
Wax & Wick is a 100% soy candle company with wood wicks, that creates environmentally-friendly products; starting off making $1,000 a month in 2015, they brought in about $20,000 per month during Q3 2017 and plan to add ten new scents and a premium sized jar for 2018's $50,000 per month goal.
54. 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 (?)
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