29 Examples Of Profitable Finance Business Ideas (2024)
Are you looking for finance business ideas you can start today and turn into a full-time hustle?
The good news is there are tons of financial services business ideas - you just have to choose one that suits your passion and goals.
Whether you are a finance expert, a chartered accountant, or an accounting student who wants to kickstart their career by understanding financial business ideas, you have come to the right page.
This article outlines some of the most profitable finance related business ideas (and finance startup ideas) you can start today!
For each finance business idea, we’ll explain what it is, share some tips on how to start a finance business, and show you real-world examples of these financial services business ideas so you can see what it takes to be successful.
1. Start a crypto tax business
The tax code is a complex system that has been in place for decades. As the new age of currency, cryptocurrency, is introduced to the world, it has become increasingly difficult to keep up with the changes.
In 2017, the number of people who owned bitcoin in the United States was 1.5 million.
There are many tax services available online that are designed specifically for cryptocurrency traders and investors. These services will help crypto owners file their taxes quickly and painlessly so they can get back on track with their investments!
How much you can make: $3,699 — $10,000/month
How long does it take to build: 45 days (?)
BearTax is a cryptocurrency tax software that helps traders consolidate trades and calculate taxes without heavy lifting, serving over 10,000 users across the globe in the US, Australia, Canada and India.
2. Become a financial advisor
A financial advisor helps people manage their money and reach their financial goals by providing personalized advice on investments and overall financial planning.
To start a business in this field, you should consider a solid financial background, relevant certifications, and good people skills.
Building credibility through education, gaining experience, and networking are key steps to success in the financial advisory business.
How much you can make: $5,600 — $2,000,000/month
How long does it take to build: 22 days (?)
Michelle Schroeder-Gardner earns $100,000 a month from Making Sense of Cents, a personal finance and lifestyle blog where she writes informative and fun articles about financial freedom and her life on the road, thanks to a diversified traffic approach and monetization strategies, such as affiliate marketing, sponsored partnerships, and course sales.
3. Start a finance blog
A finance blog is a feature appearing as part of an online publication relating to finance and consisting of articles or personal commentary. A finance blog earns income through sponsored content or simple marketing programs. To succeed in business, a finance blogger should:
- Have a good writing background
- Understand the industry from a concept or fundamental standpoint
- Be passionate about the topics
- Be well organized and maximize the work schedule.
Starting a finance blog involves a low financial investment, while there is a considerable possibility for success. There are minimal overhead costs, saving you time and money. Therefore, starting a finance blog is an incredible business opportunity.
How much you can make: $2,000 — $3,000,000/month
How much does it cost to start: $190 (?)
How long does it take to build: 30 days (?)
Financial media company MarketBeat, founded by Matt Paulson, provides objective financial information and real-time market data to empower individual stock investors to make better trading decisions, generating approximately $8 million in revenue in 2019 and ending the year with over 1.3 million unique email subscribers due to a freemium model with 75% of revenue from advertising and 25% from subscriptions.
4. Start a credit card comparison website
A credit card comparison website is a business that allows users to compare and contrast different credit cards to find the best fit for their financial needs. This business operates by gathering information about various credit cards and their features, such as interest rates, rewards programs, annual fees, and other benefits. The website then presents this information in a clear and easy-to-understand format, allowing users to compare the different options and decide which credit card to apply for.
To run a successful credit card comparison website, it is essential to keep the information on the site up-to-date and accurate. This requires constantly researching and gathering new data about credit cards and their features and regularly updating the website with the most current information. Additionally, it is important to provide a user-friendly interface that allows users to compare different credit cards and find the information they need.
Another key to business success is establishing partnerships with credit card companies and financial institutions. By partnering with these companies, the website can offer exclusive deals and promotions to users, which can help to drive traffic to the site. Additionally, partnering with these companies can provide the website with valuable resources and expertise, which can help to improve the quality and accuracy of the information on the site.
Finally, to run a successful credit card comparison website, it is essential to focus on marketing and promoting the site to attract users. This can be done through various methods, such as social media marketing, search engine optimization, and paid advertising. By effectively promoting the site, entrepreneurs can increase visibility and drive traffic, leading to increased revenue and success.
How long does it take to build: 90 days (?)
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: $1,700 (?)
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 bookkeeping service
As the nature of business changes, bookkeeping is an essential function that is on-demand across all business sectors.
Bookkeeping services support businesses by handling their accounts receivables, creating and sending invoices to the correct accounts, and processing accounts payable to ensure business owners settle them when due.
To become a bookkeeper, pick the niche market, choose a bookkeeping software, and set up the necessary business infrastructure. You need a website, an address, client database software, and file-sharing tools where your clients can access records on demand.
How much you can make: $8,000/month
How much does it cost to start: $515 (?)
How long does it take to build: 7 days (?)
A4E, a full-service accounting business, grew five times from when it started about a year ago when it was only offering tax services, and its current MRR is around $8k with a targeted MRR of $13k, providing 100% done-for-you accounting solutions that combine bookkeeping, taxes and CFO services under one roof and for an amazing value for US-based businesses in tech-related industries and services.
7. Become a stock day trader
A stock day trading business involves buying and selling stocks within a single day to make profits from short-term market price movements.
Successful stock day traders often have a deep understanding of financial modeling, which helps them identify opportunities and make informed decisions.
They also use various tools and techniques to optimize the timing of their orders and analyze market momentum.
Starting a stock day trading business requires learning about different market mechanics, order types, and risk management techniques.
It is essential to practice analyzing charts in a simulated account before investing real capital to minimize the risk of losses.
By dedicating time and effort to mastering these skills, one can increase their chances of success in the stock day trading business.
How much you can make: $160,000 — $830,000/month
How much does it cost to start: $2,250 (?)
How long does it take to build: 150 days (?)
Real Life Trading is a global stock market mentorship business generating over 4 million in revenue, with a mission to enrich lives; the "freemium" model allows for 99% of education to be totally free, attracting global customers, and with a goal of using their success to donate hundreds of thousands of dollars a year to fantastic charitable causes.
8. Start a money lending company
A money lending company is a business that provides loans to individuals or businesses in need of financial assistance. This type of company typically operates by offering a range of loan products, such as personal loans, business loans, and mortgage loans, to customers who meet specific eligibility requirements.
To run a successful money lending company, it is essential to have a thorough understanding of financial regulations and compliance and a strong marketing strategy to attract and retain customers. It is also essential to clearly understand potential borrowers’ creditworthiness and carefully evaluate the risk of lending money to them.
One essential tip for running a successful money lending company is offering customers competitive interest rates and terms, which can help attract and retain business. It is also essential to thoroughly understand the local market and carefully assess the risks and potential returns of lending to different types of borrowers.
In addition, it is essential to have a strong customer service team to handle inquiries and complaints and establish clear policies and procedures for handling defaulted loans. By following these tips and staying up to date with industry trends, entrepreneurs can start and run a successful money-lending company that helps meet their customers’ financial needs.
How much you can make: $7,000 — $100,000,000/month
How long does it take to build: 730 days (?)
How a mortgage broker used $1000 to grow a leading hard money and NON-QM lender, grossing over $3m and offering some of the lowest rates in the industry by specializing in private unique loan programs with the largest variety of mortgage loans and programs nationwide and closing loans within 7-10 days.
9. Start a tax service business
A tax service business helps individuals and businesses prepare and file their tax returns accurately and efficiently. This business typically offers tax preparation, tax planning, and consulting on tax-related matters.
To run a successful tax service business, it is essential to stay up-to-date on the latest tax laws and regulations and any changes that may affect your clients. You should also invest in reliable tax preparation software and thoroughly understand how to use it.
Another key to success in this business is building strong relationships with your clients. This may involve offering personalized services and being available to answer questions and provide guidance throughout the tax preparation process.
Marketing and networking are also crucial for attracting new clients. This may involve utilizing social media, creating a website, and attending local business events.
Overall, a tax service business can be a rewarding and lucrative opportunity for entrepreneurs with a strong understanding of tax laws and a dedication to providing excellent customer service.
How much you can make: $10,000 — $370,000/month
Divly is a startup that helps customers calculate and pay taxes on their cryptocurrency gains, with a revenue of $50k since launching and a plan to expand into multiple markets for 2023.
10. Start a real estate appraisal service
Starting a real estate appraisal service is a great way to get involved in the industry without having to buy or sell property. As a real estate appraiser, you'll be responsible for estimating the value of properties. This can involve anything from single-family homes to commercial buildings.
To be successful, you'll need to have a strong understanding of the real estate market and the factors that affect property values. You'll also need to be licensed in your state. But, if you're up for the challenge, starting a real estate appraisal business can be a great way to make money in the industry.
Licensed appraisers can make between $40,000 and 100K. They can work for an appraisal management company (AMC), lending institution or government agency. Salary starts at about 40k with top end reaching up to 120 K depending on experience.
Starting a real estate appraisal business offers a niche opportunity that can be very profitable. Appraisers can often work from home, making it a great option for those who want the flexibility of being their own boss.
With the increase in transactions, there is a need for appraisers to accurately value properties. If you have the skills and experience, starting your own appraisal business can be a great way to make money in the real estate industry.
It 's important to note that, while there is a demand for appraisers, the industry is highly regulated. You'll need to be licensed and have the proper credentials to operate your business.
11. Start an accounting software business
Accounting software is an important part of any business. Without a definitive accounting system, businesses cannot keep track of debtors, creditors, assets, and liabilities.
According to experts, demand for new and advanced accounting software is increasing than conventional software. Besides, conventional accounting software lacks technological competitiveness, which creates an environment for expansion and upgradation of the accounting software market.
Are you looking for a business idea within the accounting sector? If you understand how accounting systems work, you can build modern accounting software that helps businesses manage accounts receivables, payables, and the general ledger, among others.
How much you can make: $25,000 — $1,000,000/month
How long does it take to build: 150 days (?)
TenantCloud is a leading property management software designed to assist DIY landlords in managing their rental properties, with revenue projected to reach almost $15 million by the end of 2021.
12. Start a finance related e-book
How much you can make: $30,000/month
Financial Samurai founder, Sam Dogen, shares how he turned his cathartic writing hobby into a personal finance site that generates over $10K a month in passive advertising revenue and has over 1 million organic visitors a month, as well as his tips on starting and growing a business, and diversifying clientele.
13. Start a niche investment platform
A niche investment platform is a custom-tailored online exchange that deals with alternative asset classes such as collectibles, cryptocurrencies, real estate, or athletic prospects.
As a founder of such a platform, you can make use of modern technology to create transparent trading ecosystems that cater to specialized investors.
You can provide flexibility around portfolio combinations, which will help you build an exclusive user base.
This, in turn, will provide recurring revenue through transaction fees and premium subscriptions.
For those seeking alternatives amid volatile stock markets, a niche exchange offers asset diversification to brokers and traders who have a passion for fine wine or up-and-coming athletes.
How much you can make: $7,500 — $100,000/month
How long does it take to build: 200 days (?)
Mythic Markets is an investing platform that turns high-value, geeky assets into stocks that almost anybody can buy, with 123 investors participating in their $90,000 Black Lotus IPO.
14. 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.
15. Start an online community
Online communities bring people who share common values together. For anyone looking to start a side hustle and earn money, you need to figure out the best online communities to participate. More important, you need to figure out on how to translate your online community membership into dollars. Ideas of how to earn through online communities include:
- Selling your products
- Promoting affiliate links for a commission
- Run ads
- Sell online community membership
- Start your own online community and charge for sponsored content
How much you can make: $1,000 — $1,816,666/month
How much does it cost to start: $850 (?)
How long does it take to build: 45 days (?)
Time commitment per week: Min. 4 hours/week
VC-turned-entrepreneur Phil Strazzulla, who previously built a successful b2b SaaS business, shares how he bootstrapped an online review site for HR software into a viable business with over $1k monthly revenues in just 3 months through organic search traffic growth and selling high intent leads.
16. Start a budget consultant business
If you have a keen interest in finance and understand budgeting, starting a budget consulting business could be a great idea for you.
With this business, you can offer personalized financial advice, expense analysis, and savings strategies to both individuals and small businesses.
Whether it's retirement planning, debt management, or creating a savings plan, you can help clients achieve their financial objectives and make a meaningful impact in their lives.
One of the best things about this business is that it provides flexibility in terms of scheduling.
You can make it your side hustle or turn it into a full-time venture, depending on your preference and availability.
By starting your own consulting business, you can tap into this market and empower others to take control of their financial future.
How much you can make: $7,000 — $50,000/month
How long does it take to build: 45 days (?)
Learn how Steffa Mantilla transitioned from being a zookeeper to earning $7,000/month gross income through her personal finance blog, Money Tamer, by offering digital printables and focusing on SEO and email marketing.
17. Start a finance podcast
How much you can make: $10,500 — $150,000/month
How much does it cost to start: $50 (?)
How long does it take to build: 365 days (?)
Millennial Money Man founder Bobby Hoyt and partner Mike Yanda created Laptop Empires, which boasts a seven-figure revenue through their flagship Facebook Side Hustle Course, helping retirees and millennials launch and grow their local Facebook ad agencies.
18. Start a VC firm
How much you can make: $83,333/month
TinySeed is a funding and mentoring company, established by Rob Walling and Einar Vollset, that offers between $120,000 and $160,000 to participating companies, after raising a funding round of about $4M dollars.
19. Become a forex trader
How much you can make: $1,200 — $100,000/month
How much does it cost to start: $388 (?)
How long does it take to build: 60 days (?)
Entrepreneur Sina Sinry started an eCommerce business selling the best performing forex robot, generating monthly earnings of over $100,000 from his digital products, which he developed with the help of professional developers and found success through Facebook Ads.
20. Become a crypto trader
Crypto trading is an exciting market with a reputation for higher returns than some traditional investments.
Note that cryptocurrencies are incredibly volatile (and this is not investment advice).
When you start, opt for small-stake trades that allow you to get a handle on the market with minimal risk. Trade through a secure wallet provided by a reputable broker such as Coinbase or Binance. Take time to practice technical analysis, an essential research skill to help you read charts and identify patterns to inform your crypto trading strategies.
How much you can make: $1,000 — $900,000/month
How long does it take to build: 135 days (?)
Exolix is an anonymous cryptocurrency exchange platform with a fixed rate and unlimited exchange that provides its users with fast, easy, and secure exchange processes.
21. Start a health insurance business
Starting a health insurance business can be a lucrative and rewarding endeavor. As the healthcare industry continues to evolve, the demand for affordable and comprehensive health insurance plans is higher than ever.
To start a health insurance business, you must obtain a license to sell insurance in your state. This typically requires completing an insurance training program and passing an exam. You will also need to work with insurance carriers to create plans and negotiate rates.
To run a successful health insurance business, it is important to have a strong understanding of the healthcare industry and the various types of health insurance plans available. You should also be able to communicate effectively with clients and help them understand their options.
In addition to selling insurance, you may also need to manage claims and handle customer service inquiries. Strong organizational and customer service skills will be essential to running a successful health insurance business.
Starting a health insurance business requires a combination of knowledge, skills, and resources. With dedication and hard work, you can build a thriving business that helps individuals and families protect their health and financial well-being.
How much you can make: $7,160,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 90 days (?)
Limelight Health, founded in 2014 and acquired by FINEOS in 2020 for nearly $100M, achieved success through building meaningful relationships, product research, executive and advisor hiring, and focusing on culture and authenticity to help life insurers provide excellent service to customers.
22. Start a stock market research website
How much you can make: $3,000,000/month
How long does it take to build: 200 days (?)
Financial media company MarketBeat, founded by Matt Paulson, provides objective financial information and real-time market data to empower individual stock investors to make better trading decisions, generating approximately $8 million in revenue in 2019 and ending the year with over 1.3 million unique email subscribers due to a freemium model with 75% of revenue from advertising and 25% from subscriptions.
23. Start an online payment service
An online payment service provider is a third-party company that provides a payment platform for businesses that accept online payment methods like debit cards, credit cards, cash cards, etc. Building an online payment platform is a great way of achieving financial freedom. This is because the payment platform charges the stores and service providers a convenience fee for using their services, generating a passive income for the business owners.
If you plan to build an online payment solution, focus on building a solution that will process different payment types.
How much you can make: $2,200 — $5,000,000/month
How long does it take to build: 150 days (?)
Transformify, a global payroll and payments platform for international contractors, achieved 650% revenue growth in 2021 and reached profitability in 2019, offering social impact programs for various vulnerable groups, vendor management systems for temporary workforce management, and an AI-driven applicant tracking system to help job seekers switch careers amid Covid-19 outbreak.
24. Create a digital wallet app
A digital wallet is a financial transaction application that runs on mobile devices. In today’s digital era, people demand the freedom to purchase anything and be able to pay from their digital wallets.
With technological advancement, making digital payments has become easier than ever before. Anyone can use mobile payment platforms to pay and accept payments online. Therefore, creating a digital payments wallet can be a great business opportunity.
To create a digital wallet, conduct extensive market research and create a business plan. It would help if you could hire competent programmers to create a secure payment gateway.
How much you can make: $220,000 — $1,500,000/month
How long does it take to build: 400 days (?)
iCard is a leading e-money institution that offers a unique and 100% digital bank account alternative, with their app and services supporting the daily payments of people in over 30 European countries, and since launch in late 2017, the iCard app has seen around 500,000 downloads.
25. Become a retirement & personal finance consultant
As individuals are retiring earlier and more often than ever, there is an increasing demand for these types of services. A retirement consulting business can tap into a growing market of individuals seeking professional guidance for their post-work years.
A retirement consultant specializes in helping individuals plan for a secure and fulfilling retirement.
They assess clients' financial situations, recommend strategies for savings and investments, and guide them on how to achieve a comfortable retirement lifestyle.
How much you can make: $100,000/month
How long does it take to build: 360 days (?)
This case study showcases the success of a personal finance expert who has grown his business to make over $100,000 in revenue per month while helping individuals with financial assistance.
26. Start a crowdfunding app business
How much you can make: $1,000 — $400,000/month
How long does it take to build: 272 days (?)
StartEngine has helped over 265 companies raise capital from a community of 190,000 users on their equity crowdfunding platform, and has raised almost $100M to date, offering equity, debt, convertible note, and other types of securities to investors.
27. Start a credit repair business
Credit repair involves restoring or correcting a poor credit score by pointing out untrue or incorrect listings from a credit report. The demand for credit repair services is increasing tremendously.
According to a report, the global credit repair services market is estimated to grow at a CAGR of 13.76%, reaching approximately $7,000 in a few years.
The increased demand for credit repair services is because people are after removing negative items from their credit reports so they can reach a higher FICO score and obtain credit. Therefore, starting a credit repair company can be a rewarding and fun business. To start a credit repair company, you need trained and certified staff.
How much you can make: $15,000 — $41,667/month
How much does it cost to start: $1,000 (?)
How long does it take to build: 30 days (?)
Noble Notary & Legal Document Preparers is a small but highly profitable B2B and B2C notary service business in Port Orange, Florida generating approximately $15,000/month in profits by servicing both mobile and remote online notary, executive real estate closings, apostilles, legal document preparation, fingerprinting, credit repair, and tax preparation while keeping advertising and overhead expenditures extremely low.
28. Start a commodity trader business
29. Become a financial appraisal
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- 4,818 founder case studies
- Access to our founder directory
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- 8,628 business ideas
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- 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