8 Product Development Services Business Success Stories [2024]

Pat Walls

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Updated: November 19th, 2023

Start A Product Development Services Business

Here are some real life success stories of starting a product development services business:

1. FounderBlocks ($720K/year)

Lasse, the founder of VIPERdev, came up with the idea after receiving feedback that his team was incredibly fast and innovative. They decided to focus on working with startups and helping them bring their products to market quickly, solving actual problems first before adding fancy features. Through their efficient approach, they have become a trusted accelerator program, releasing 2-5 products per month and ensuring each project is a success story.

How much they make: $720K/year
How much did it cost to start: $500
Current team size: 12

How We Created A $60K/Month Startup Factory

VIPERdev is an accelerator program that helps founders turn their digital business ideas into products and bring them to market within 8-12 weeks, releasing an average of 2-5 products per month.

Revenue

Lasse grew the business to $60K/month

Costs

It cost Lasse $500 to start the business

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Read by 6,051 founders

2. Innovolo Ltd ($2.4M/year)

Bradley Pallister, co-founder and Head of Innovation at Innovolo, came up with the idea for the business after recognizing the need for an innovation and product development consultancy that could help B2B clients create a culture of innovation. With their flagship product, Unlimited Innovation-as-a-Service, Innovolo offers business owners a cost-effective solution to bring in an external innovation team tailored to their needs, resulting in accelerated product development and a fast turnaround time, as seen with one client's product being expedited from eight months to six weeks. With an impressive revenue forecast of £2.4 million this year, Innovolo is poised to disrupt the remote product development space.

How much they make: $2.4M/year
How much did it cost to start: $1K
Current team size: 12

How We Started A $200K/Month Company Offering Innovation-As-A-Service

Innovolo, an innovation and product development consultancy, went from offering fixed-sum product development to providing product development chain management with a unique program called Unlimited Innovation-as-a-Service, shortening their client's product expedited time significantly, and increasing revenue astronomically since their launch in 2018.

About

Bradley started Innovolo Ltd over 5 years ago

Revenue

Bradley grew the business to $200K/month

Costs

It cost Bradley $1000 to start the business

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Read by 4,758 founders

So... can you actually make money with a product development services business?

Of course. There are millions to be made in this industry.

But how?

Research real, profitable businesses and see exactly how much money they make.
Study exactly what works, and what doesn’t.
Take action, because now you have the roadmap.

Join Starter Story and build your next big thing:

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4. Ncrypted Technologies

At NCrypted we provide high-end online and offline custom software development solutions to start-ups small to medium businesses and large enterprises.

5. eInfochips

eInfochips, an Arrow company, is a product engineering and semiconductor design services firm, specializing in digital transformation and connected IoT solutions across various cloud platforms.

Website traffic: 100K/month

So... can you actually make money with a product development services business?

Of course. There are millions to be made in this industry.

But how?

Research real, profitable businesses and see exactly how much money they make.
Study exactly what works, and what doesn’t.
Take action, because now you have the roadmap.

Join Starter Story and build your next big thing:

Start Now

7. Nations Photo Lab

Website traffic: 220K/month

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Starting A Product Development Services Business: Everything You Need To Know

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