22 Lucrative Business Opportunities For MBA Graduates In 2024

Updated: July 24th, 2023

Looking to start a business as MBA graduate but not quite sure what to start?



The good news is, there are so many opportunities to become an entrepreneur and build an innovative product/service in this line of work.



If you're looking to start your own business as MBA graduate, there are several low-capital options you can choose from.



We put a list together below of the most profitable business ideas for MBA graduates you can start today!



Here they are:



1. Start a life coaching business

Life coach helps people in various areas of their lives using a combination of emotional intelligence, professional knowledge, and experience.

Life coaching is a popular industry worth over $2.85 billion, and the number of life coaches has increased by 33% between 2015-2019.

This is a very profitable business and can be started at virtually no cost. You’ll need a computer, a high-speed Internet connection, and a LinkedIn account to start. Then, you can begin coaching part-time in your spare time until you build up your clientele.

How much you can make: $100 — $660,000/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

How I Launched A $5K/Month Platform To Connect With Growth Mentors

GrowthMentor, a platform connecting vetted growth mentors for one-on-one calls, founded by Fotis Panagiotakopoulos, has had over 2,500 mentorship calls booked to date and has seen success in using word of mouth, content marketing, and leveraging other people's networks as the primary drivers of customer acquisition.

About
Foti started GrowthMentor over 5 years ago
Revenue
Foti grew the business to $10K/month
Read by 39,543 founders

2. Start an ecommerce platform

Over the past decade, eCommerce has become an indispensable part of the global retail framework. According to statistics, over 2 billion people prefer shopping online.

While brick-and-mortar stores are still making more sales compared to online sales, the adoption of eCommerce is still rising, mainly because of the increased speed and convenience of online shopping.

Therefore, starting an eCommerce platform could set you on the right path to building a futuristic business.

How much you can make: $100 — $83,333,333/month

How long does it take to build: 110 days (?)

How We Started A $700K/Month Business Getting Targeted Traffic For Online Sellers

StoreYa co-founders Eyal Reich and Yariv Dror, along with CTO Pasha Zaft, created a suite of marketing and advertising apps that include Traffic Booster, which has generated an average of $700,000 MRR and helped the business win a 2018 Google Acquisition Performance award, as well as becoming a PayPal exclusive advertising partner.

About
Eyal started StoreYa over 11 years ago
Revenue
Eyal grew the business to $2M/month
Costs
It cost Eyal $5000 to start the business
Read by 9,957 founders

3. 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

How I Started A $15K/Month SAT Tutoring Business While In College

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.

About
Adam started SoFlo Tutors almost 5 years ago
Revenue
Adam grew the business to $100K/month
Costs
It cost Adam $100 to start the business
Read by 18,288 founders

4. Start an email marketing tool

An email marketing tool, also known as an 'email tool', is a software application that helps you create, manage and automate email campaigns. Basically, it's a program that allows you to write and send bulk emails.

Email marketing is one of the most effective marketing channels around. It can be used to generate leads, increase sales, create subscribers, improve your SEO rankings and reach more customers than you would with a blog or website.

The email marketing industry is booming. The global email marketing tool market size is expected to reach $2.53B in 2028. Making an email marketing tool business is as easy as buying a domain and hosting account, but that is just the beginning. You will soon start to see the endless possibilities for creating tools that will be used by entrepreneurs, startups, and even real estate agents.

How much you can make: $120 — $2,033,333/month

How much does it cost to start: $600 (?)

How long does it take to build: 180 days (?)

I Built A SEO Tool That's Completely Free For Users [From Lebanon]

H-supertools founder Hasan developed a set of free SEO and digital marketing tools generating $2k per month in profit using Google Adsense, affiliate marketing, selling ad spaces, and email, plans to launch a membership option, and has attained over 80k registered users and 300k monthly visits in less than two years.

About
Hasan started H-supertools almost 4 years ago
Revenue
Hasan grew the business to $2K/month
Read by 12,351 founders

5. 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 (?)

How I Started A $100K/Month Blog About Personal Finance

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.

About
Michelle started Making Sense of Cents over 12 years ago
Revenue
Michelle grew the business to $75K/month
Costs
It cost Michelle $100 to start the business
Read by 17,944 founders

6. Start a debt management and recovery business

With the increasing need for financial guidance and debt resolution, starting a debt management and recovery business can provide a valuable service while establishing a profitable venture.

The debt management and recovery business involves helping individuals and businesses navigate and resolve their financial obligations.

Entrepreneurs in this field typically offer services such as debt consolidation, negotiation with creditors, and developing customized repayment plans.

The business may also include debt recovery services, assisting creditors in recouping funds from individuals or entities who have defaulted on their payments.

How much you can make: $80,000/month

How An Industry Outsider Started An $80K/Month Debt Collection Business

A debt collection agency's founder and CEO speaks on addressing the debts of businesses efficiently and positively, attributing its 52% collection success rate increase to a three-phase collection process.

About
Avi started Fair Capital over 6 years ago
Revenue
Avi grew the business to $80K/month
Read by 2,126 founders

7. Start a green consulting business

Global leaders have continually emphasized businesses embrace environmental sustainability throughout their production and manufacturing processes.

As all sectors focus on developing sustainable solutions, there is a need to involve green consulting experts. Therefore, as demand for green consultancy rises across the industries, starting the green consultancy business is becoming a profitable venture.

The green consulting businesses assist with the creation and design of eco-friendly, energy-efficient, and sustainable buildings and community sites.

How much does it cost to start: $200 (?)

How long does it take to build: 15 days (?)

8. Start a business financing expert business

How long does it take to build: 272 days (?)

9. Start a market researching business

Market research analysts research, compile, and analyze information on products and market conditions. The experts identify potential new markets, sales opportunities, and effective marketing strategies.

The employment of market research analysts is projected to grow rapidly over the coming years.

If you love helping businesses reach strategic decisions to excel and beat the competition, then starting a market research business can be fun and rewarding.

How much you can make: $15,000/month

How long does it take to build: 550 days (?)

How I Started A $15K/Month Market Research Agency With Just $400

This case study is about Abhishek Kumar, the founder of Deep Research, a boutique market research agency that helps startups gather customer insights and guide their product and growth strategies. With revenues consistently growing over the past 10 months, they have achieved their highest revenue of $15,000 last month through continuous service evolution and increased value.

About
abhishek started Deep Research about 1 year ago
Revenue
abhishek grew the business to $15K/month
Costs
It cost abhishek $400 to start the business
Read by 3,333 founders

10. Build a SEO tool

SEO tools provide data and alerts about the health and success of a website. Website owners and businesses are looking for tools to help them quickly identify and fix SEO issues. Thus, starting an SEO business that focuses on developing SEO tools can be a rewarding career.

How much you can make: $2,800 — $850,000/month

How much does it cost to start: $1,000 (?)

How long does it take to build: 60 days (?)

How I Bootstrapped My SaaS Company To $2.5M/Year In 5 Years As A Solo Founder

Solo founder Todd Hooper bootstrapped Prerender.io from zero to $2.5 million in ARR over 5 years by releasing an open-source project on Github and turning it into an SEO-friendly version of React, Angular, and Javascript websites, and then offering it as a SaaS service for businesses.

About
Todd started Prerender.io over 10 years ago
Revenue
Todd grew the business to $220K/month
Read by 15,283 founders

11. Become a public relations rep

So, have you ever thought about starting your own public relations representative business? This business idea involves helping organizations and individuals improve their public image and reputation through various communication strategies and tactics.

You’ll need a strong understanding of public relations principles and techniques and excellent communication and interpersonal skills. You’ll also need to be well-versed in social media and other digital marketing platforms, as these are vital channels for reaching and engaging with audiences.

To operate your business, you’ll work with clients to identify their public relations goals and create a customized plan to achieve them. Working with clients involves creating press releases, organizing media events, managing social media accounts, or crafting messaging and branding strategies. You’ll also need to adapt to changing circumstances and respond proactively to potential public relations issues.

Starting a public relations representative business can be a rewarding and exciting opportunity for those with a passion for public relations and a desire to help organizations and individuals enhance their public image.

How much you can make: $33,500/month

Averaging $400K/Year Through A PR Agency, Online Courses, And Podcasts

Case study: Christina Nicholson built her PR agency, Media Maven, from scratch and now generates an impressive $33,500 in monthly revenue. By leveraging her background in journalism and utilizing strategic content creation and media exposure, she attracts clients who already know, like, and trust her without the need for a dedicated sales team.

About
Christina started Media Maven over 8 years ago
Revenue
Christina grew the business to $33.5K/month
Read by 1,953 founders

12. Start a management consulting business

Management consulting helps organizations improve performance by developing strategies to solve issues, create value, and maximize growth. A management consultant deploys his skills in providing objective advice and expertise to help organizations develop skills they may lack.

The management consultant is primarily concerned with the company's strategy, structure, management, and operations.

The role of a management consultant is to review operations and identify options for the organization and suggest recommendations for change, as well as advise on additional resources. Management consulting offers the flexibility of working as a full-time employee, a self-employed professional, or a contractual consultant.

To become a management consultant, complete a relevant degree program and work as an intern to gain experience so you can discharge your duties confidently.

How much you can make: $8,696 — $433,000/month

How long does it take to build: 42 days (?)

How I Use Linkedin To Grow My $18K/Month Outbound Growth Services Business

BizzBee Solutions, a LinkedIn and email outreach specialist, grew from 2 to 20+ employees in just 12 months, serving 400+ clients globally, after switching from being generalists to specialists in outreach for high-ticket service providers, agencies, software development companies, and consultants.

About
Dancho started BizzBee Solutions about 9 years ago
Revenue
Dancho grew the business to $26K/month
Costs
It cost Dancho $4250 to start the business
Read by 4,880 founders

13. Become an author

Becoming an author is an exciting journey that involves creating and publishing written works, such as books, novels, or articles that reflect one’s ideas, stories, or expertise.

You can establish yourself through traditional publishing routes or self-publishing, utilizing your literary skills to connect with readers and potentially earn revenue from book sales.

Traditional publishing involves submitting a manuscript to a publishing house or literary agent who will review and decide if it is suitable for publication.

On the other hand, self-publishing gives authors complete control over the publishing process, allowing them to publish their work independently and market it on their own.

You can generate income through book sales, royalties, and opportunities such as speaking engagements or workshops.

How much you can make: $200 — $9,259,259/month

How much does it cost to start: $1,000 (?)

How long does it take to build: 75 days (?)

How I Generate $10K/Month As An Indie Writer

This case study follows full-time thriller and action-adventure author Nick Thacker who earns between $10k to $20k per month from writing, predominantly through Amazon Kindle Unlimited sales, and goes in-depth into his self-publishing strategy which maximizes sales and minimizes costs, such as developing a mailing list and utilizing print-on-demand services.

About
Nick started Conundrum Publishing about 7 years ago
Revenue
Nick grew the business to $20K/month
Read by 9,419 founders

14. Start a business plan writing business

A business plan writing business is a service that helps entrepreneurs and small business owners create well-structured and comprehensive business plans.

These plans serve as roadmaps for their businesses, outlining goals, strategies, and financial projections. Starting a business plan writing business involves skills in research, analysis, and writing.

You’ll work closely with clients to understand their vision and then translate it into a professional document that can be used to attract investors, secure loans, or guide their business growth.

This low-cost business idea requires minimal initial investment, mainly for marketing materials and a basic online presence, making it an accessible option for aspiring entrepreneurs.

How much you can make: $42,857/month

How much does it cost to start: $35 (?)

How long does it take to build: 150 days (?)

How We Started A $514K/Year Content Curation Agency With Just $35 [From India]

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.

About
Vaibhav started Content-Whale Private Limited over 6 years ago
Revenue
Vaibhav grew the business to $42.9K/month
Costs
It cost Vaibhav $35 to start the business
Read by 4,651 founders

15. Start an event planning business

Event planners handle different tasks related to making the business a success. Some of the event planner’s responsibilities include:

  • Conducting research
  • Creating the event design
  • Finding an ideal site
  • Arranging for food, décor, and entertainment
  • Planning logistics to and from the event
  • Sending invitations
  • Supervising at the site etc

To start this business on a budget, begin by honing your organizational and communication skills.

Next, create a detailed business plan outlining your services, target market, and pricing structure.

Utilize free or low-cost online tools for marketing, and consider starting small by offering services for smaller events before expanding your business as you gain experience and resources.

How much you can make: $35,000 — $500,000/month

How long does it take to build: 90 days (?)

How I Started A $35K/Month Event Decor Business

Akshay Patel's event rental and decor business, Simply Decor, Tents, and Events, saw an average ticket price of $2,000, as their advertising budget decreased from $20k to $5k, leading to 40% of their clients coming through social media advertising, 30% from expos, and 30% online in google, yahoo, and other platforms.

Revenue
Akshay grew the business to $35K/month
Costs
It cost Akshay $500 to start the business
Read by 16,609 founders

16. Start an agricultural consulting business

Agricultural consultants advice farmers helping them to make technical, financial, and commercial decisions.

As an agricultural consultant, your role will be to ensure your clients, businesses, and enterprises are running as efficiently as possible.

To become an agricultural consultant, consider taking a course in agriculture, horticulture, crop/plant science, or animal science.

With the proper qualifications, you can advise farmers and other key players appropriately and help them make a difference.

How much you can make: $1,000,000/month

How We Literally Reinvented The Wheel And Built A $1M Company

Shark Wheel reinvented the wheel, starting in the skateboard industry with a highly successful Kickstarter campaign and going on to secure issued patents in over 33 countries, with plans to expand into the industrial market.

About
Zack started Shark Wheel over 11 years ago
Revenue
Zack grew the business to $1M/month
Costs
It cost Zack $100000 to start the business
Read by 13,312 founders

17. Start a business school business

18. Start a brokerage business

A brokerage business is a middleman who connects buyers and sellers to complete a transaction for stock shares, bonds, options, and other financial instruments.

Brokers earn a commission or a one-off fee charged when the transaction has been completed.

To start a brokerage business, find a suitable niche and research the market. Depending on the niche, you might have to apply for the broker’s license.

Besides, some states require a professional qualification to allow one to start a brokerage company.

How much you can make: $17,500,000/month

Mark Doust from Quiet Light Brokerage on Closing $70M in Deals

Mark Daoust, founder of Quiet Light Brokerage, has closed $70 million in deals last year, providing mentorship and guidance for owners who are considering selling their businesses.

Revenue
Mark grew the business to $17.5M/month
Read by 619 founders

19. Become a corporate trainer

How much you can make: $4,500 — $20,000/month

How long does it take to build: 60 days (?)

How Being The Funny Guy At Work Turned Into A Full Time Career

Humor That Works is a training company that focuses on human effectiveness, and has worked with thousands of people at over 250 organizations, including Microsoft, the FBI, and the International Association of Canine Professionals, and has grown 24% YoY.

About
Andrew started Humor That Works about 15 years ago
Revenue
Andrew grew the business to $12.5K/month
Read by 7,611 founders

20. Start a recruiting business

A recruiting business is a service and advice-based business that helps companies and organizations find the right candidates for their jobs. These businesses usually serve as a medium between the two entities to create a win-win situation. The job seeker can get the job of their dreams, while the business entity can get a fit candidate for the job.

Recruiting is one of the fastest-growing industries in the United States. Over the past ten years, businesses are struggling to find quality employees and candidates are searching for more opportunities. If you know this, then you have everything you need to make money fast with recruiting.

Starting a recruiting business from scratch is easier than you think. You can have your own staffing agency in just a few weeks and start making a great income while working less.

How much you can make: $100 — $125,000/month

How long does it take to build: 105 days (?)

Making $15K/Month Connecting Interns With Companies Looking For Talent

Techintern.io connects startups and tech companies with the best software developer students at colleges across North America and has achieved #1 Product of the Day and #2 Product of the Week on Product Hunt, making $15,000 per month.

About
Kingsong started Techintern.io over 3 years ago
Revenue
Kingsong grew the business to $15K/month
Costs
It cost Kingsong $40000 to start the business
Read by 6,848 founders

21. Start an asset management business

How much you can make: $100,000/month

LATAM SaaS + IoT grows 10x to $1.2m in ARR, $3.7m round at $15m valuation

Tractian, an industrial AI start-up, offers online maintenance systems that have raised $15M in a funding round, has grown 10x to reach $1.2ARR with a base increase of 30% customers per month.

About
Igor started Tractian over 4 years ago
Revenue
Igor grew the business to $100K/month
Read by 324 founders

22. Start a crowdfunding consulting business

How much you can make: $10,000 — $300,000/month

How long does it take to build: 240 days (?)

How I Started A Crowdfunding-As-A-Service Platform That Helped 200K Projects Raise Over $200M

ConnectionPoint's founder and CEO, Daryl Hatton, shares his experience of launching an enterprise-class crowdfunding-as-a-service platform that has helped almost 200,000 projects in 40+ countries raise over $200 million, and offers valuable insights on taking a focused approach to growth and pivoting the business to solve customer problems.

About
Daryl started ConnectionPoint over 15 years ago
Revenue
Daryl grew the business to $150K/month
Costs
It cost Daryl $600000 to start the business
Read by 5,774 founders

meet the author
Pat Walls

I'm Pat Walls and I created Starter Story - a website dedicated to helping people start businesses. We interview entrepreneurs from around the world about how they started and grew their businesses.