22 Lucrative Business Opportunities For MBA Graduates In 2023

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

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 (?)

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

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 (?)

5. Become a financial advisor

Financial advisors advise individuals and businesses, helping them reach their financial goals sooner. To become a certified financial advisor, you must complete a degree course and an internship. Then, go beyond the education and work experience, and find a job where you can practice the skills and knowledge. Financial advisors can work in several places, including banks, brokerage firms, insurance companies, and wealth management firms.

Pursue finance-related certifications and licensure examinations to help you become certified specialists and differentiate yourself from the competition.

How much you can make: $5,600 — $2,000,000/month

How much does it cost to start: $6,550 (?)

How long does it take to build: 14 days (?)

6. Start a debt management and recovery business

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

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 (?)

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 (?)

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

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 (?)

13. Become an author

Writing a book is one of the most satisfying experiences you can have as a professional. It gives structure, meaning, and direction and helps you build your professional credentials.

The passion to write is something that comes from deep within. That passion leads to a warm-up to the idea of becoming an author. However, the path to being an author is not so easy. To become an author you need to research topics and spent many hours writing something meaningful.

Authoring a book is many people's dream and also a money-making profession. One can make handsome money by becoming an author. To become an author you have to take some inspiration from your older famous author who is became succeeded as an author.

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: 60 days (?)

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 (?)

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 (?)

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

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

19. Become a corporate trainer

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

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

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 (?)

21. Start an asset management business

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

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 (?)

Pat Walls,  Founder of Starter Story
Want to find more ideas that make money?

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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.