50 Million Dollar Business Ideas [That You Can Start]

Have you ever wondered how entrepreneurs have built a business to $1M+/year?

Well, we've got the answers for you, because we've interviewed thousands of founders running million dollar companies.

Here's a list of 50 million dollar business ideas, along with real-world examples of founders who built them.

1. Start a supplements company

A supplement business makes money by selling dietary supplements, vitamins, protein powders, and health foods to customers.

These products are often sold directly to customers or through distributors and retailers.

Your target customers will likely include fitness enthusiasts, health-conscious individuals, wellness influencers, and those who prioritize their nutrition daily.

Starting a supplement brand is becoming increasingly popular because it's relatively inexpensive, and you can run the business from your home.

2. Create an online course

Online course businesses are one of the fastest-growing online business models. Creating an online course is an awesome way to generate extra income because it allows you to monetize the knowledge you already have. More people are taking online courses every day, and the COVID pandemic has accelerated that, with some online learning platforms having seen 15-fold growth in the number of users.

Another advantage is that these new platforms are so easy to use for instructors that you don't have to worry at all about the tech side of the business. You just need to focus on creating exciting content that is informational & engaging at the same time.

Starting an online course allows you to eliminate some of the huge costs associated with setting up a physical training facility, and it's a great way to reach as many people as possible.

3. Start a hair product line

Starting a hair product line can be a fun and profitable way to build a new income stream. It's also fairly easy, as long as you plan it out (and maybe do a little bit of market research before creating your sales funnel). There's a reason we often talk about trends in hip-hop and pop culture when we talk about hairstyles — they often have a lot to do with advancements in the hair product industry. The industry is expected to grow to 102 billion dollars by 2024.

4. Start a bedding company

At the end of a hard day, we all need a good night’s sleep. A good quality mattress, bedsheet, or pillow makes all the difference when it comes to sleeping comfortably. That’s why many people invest in quality bedding materials, making it a profitable business idea.

The first step to starting a bedding business is to choose your niche. You need to decide what bedding you want to specialize in, which will help determine the products you’ll sell. Do you want to focus on luxury sheets? Or perhaps more affordable linens that are still high-quality?

Next, you’ll need to find a manufacturer who can supply the bedding products you want to sell. You’ll want to research different options and ensure they can provide what you need at a reasonable price.

Once you’ve got all that lined up, start setting up your website and social media accounts! These are essential tools for any business owner—especially in today’s digital landscape.

5. Start a socks business

Socks are a low-cost, high-profit business. One of the more affordable businesses you can start.

The market itself has a size of 47 billion USD in 2020 with an annual growth rate of 6%..

If you want to be successful in this industry, it is important that your socks are comfy to wear and stylish to look at. People would want to wear socks that will make them look great without sacrificing comfort.

6. Start a skin care product line

The skincare business is a multi-billion dollar one, and it shows no sign of slowing down. New anti-aging products are entering the market at a nearly exponential rate, and the competition for consumers' money is growing more and more.

The industry was valued at 130 billion USD in 2021 and will expand at an annual growth rate of 4.6% up to 2030. This is surely a type of business that you should not miss. You'll need to build your creativity on your products and make sure that it is all safe and useful in improving the skin of your customers.

7. Start a pet store

Pet stores are retail businesses that sell animals and pet supplies. They are a leading industry category with sales of approximately $4.5B U.S dollars and positive sales growth of 2.7%.

You can set up a pet store in many places, like supermarkets, malls, or pet supply stores.

The first thing to do is to find a location for your store. A good place would be an area with many residential buildings, schools, and colleges as this will give you access to many customers. It would help if you also looked for a location near public transport as it will make it easier for people to come and visit your store.

8. Start a smart home camera business

Consumers use smart home cameras to capture video of or around their homes. This can be done remotely via a smartphone. It can also be used for security purposes.

Starting a home camera business will require some investment, such as equipment, software, and other R&D costs.

The smart home camera market is on fire. The worldwide wireless home security cameras systems market size is projected to reach $18B by 2030. There's a new, exciting, and fast-growing business opportunity.

9. Start a quilt business

If you're crafty and creative, then selling quilts might be a great business for you.

Approximately, the size of the quilting industry is 4.2 billion USD.

10. Start a cleaning service

A housecleaning side business is a beautiful idea for people with free time on weekends or even weekdays. The side hustle idea requires little capital to start. During the launch, you can choose to offer the service to your neighbors and scale as you gain experience. The average salary for a house cleaner is $17.32 per hour.

By starting a house cleaning business, you are tapping into an enormous market with plenty of clientele. There could always be demand for your cleaning service, which keeps you in business as you help homeowners keep their homes spotless.

11. Start an idea management software

Idea management software is designed to help businesses and teams collaborate and track their ideas. The act of managing ideas can heavily influence the outcome of teams and projects, which can mean the difference between success and failure for a company.

You'll need to ensure that you have a solid foundation of coding and prototyping to build this kind of software. On top of that, you'll want to have good sales and marketing skills to sell this software to companies and executives.

12. Start a drinkware brand

A drinkware brand sells home and houseware products like cups, koozies, mugs, and other drinking accessories. If you've decided to try and create a business selling drinkware, there are certain things you need to know. You can do it from the comfort of your own home. You can get started for free, avoiding the hefty cost of setting up a brick-and-mortar shop. And if you take advantage of the right marketing strategies, you could be on your way to making money within a few weeks. The demand for custom-branded drinkware in the workplace has increased substantially over the past decade.

13. Start a dog treat business

Dog treats are a cornerstone of the dog food market, so when you are looking at how to sell your own dog treat, it's important to make sure that your treats are healthy ensuring that they meet all the nutritional requirements of dog food and will be safe for their consumption.

This market has a 66 billion USD market size. It can be a great place to start if you want to get into the pet industry, or if you're a total dog enthusiast.

14. Start a fulfillment business

As e-commerce becomes the pillar in our retail landscape, fulfillment businesses are becoming more important.

Fulfillment companies enable e-Commerce by processing order receipts, packing, delivering, and handling returns from clients. These businesses act as a third-party warehouse and their core responsibilities include preparing and shipping orders. Thus, they store goods until they are ready to send to stores and customers. If you are planning to start a fulfillment service, some of the services will include:

• Same day-delivery
• Customer support through chat, text, and phone call
• Complete order tracking from arrival at the fulfillment center to delivery to customer's door
• Custom API integration
• Climate-controlled storage space

To start a fulfillment center you need to find space, streamline with software, and set up and understand business KPIs with the target e-Commerce companies.

15. Start a CRM business

A Customer Relationship Management (CRM) software keeps track of prospects, clients and their contacts and also helps you monitor your sales pipeline as well as to create reports for business intelligence.

The CRM market is a $50B and growing industry.

16. Start a publishing business

Starting a publishing business can be a rewarding and lucrative endeavor for those with a passion for literature and strong business acumen. This type of business involves producing and distributing written materials such as books, magazines, and digital content.

To start a publishing business, you need a solid business plan outlining your goals and target market. You will also need to secure funding to cover the costs of printing and distributing your materials. This can include obtaining loans or seeking investors.

In addition to financial resources, you will need a team of professionals with expertise in editing, design, marketing, and sales. It’s important to build a diverse and skilled team to ensure the success of your business.

Success in the publishing industry requires a strong understanding of current trends and adapting to changing market conditions. Stay current on industry news and continually seek new opportunities to grow and expand your business.

Starting a publishing business requires hard work, dedication, and a willingness to take risks. But with the right team and strategy, it can be a fulfilling and profitable venture.

17. Start a cannabis business

Have you ever thought of starting your own cannabis business?

The cannabis industry has been continuously growing throughout the years. The legal marijuana sales are projected to reach $22 billion by 2022.

No matter your level of experience, the cannabis industry has a lot to offer. There are inspiring stories of entrepreneurs that made it big in this particular industry.

18. Start a diagnostic tools business

In an ever-evolving world where technology and healthcare intersect, starting a diagnostic tools business can be the right combination of purpose and profit. Simply put, this enterprise involves developing or distributing cutting-edge tools that doctors, clinicians, and healthcare workers use to diagnose and treat patients' conditions.

Being at the crux of human lives and scientific discovery, the demand for accurate diagnostic tools will always be significant. With the advent of personalized medicine, the need for diagnostic tools continues to rise, opening an opportunity for a rewarding business venture.

Getting involved means working with manufacturers, understanding the medical and technological aspects of the diagnostics, and reaching out to the relevant market sectors. It might seem daunting, but remember, you're placing important tools in the hands of professionals who can make a real difference in healthcare and, subsequently, people's lives. Who wouldn't want to be part of such a vital cog in the healthcare wheel of progress?

19. Start a custom prints business

Custom print businesses often focus on printing everything, including business cards, photos, and even custom T-shirts.

To start an online custom prints business, choose a niche to help your business stand out and attract the right target audience. Then, focus on producing quality prints of different sizes, materials, and designs. You may hire designers online or search for designs in online design communities. Then, validate the designs before you begin mass production. Finally, set up an online store, and launch the business.

Remember that with the growth in popularity of selling custom prints, expect to face stiff competition. Therefore, you should market your custom prints on social media to maximize your reach.

20. Become a vehicle exporter

Imagine this, an enterprise that involves the excitement of international trade and the allure of high-end cars. That's the opportunity a vehicle exporting business presents.

In simple terms, this business involves acquiring vehicles locally and selling them to international buyers. Thanks to increasing globalization and technology, connecting with customers worldwide is easier than ever. Elegant sedans, resilient SUVs, or vintage collectibles, the choice of what to sell is entirely yours.

This business presents a thrilling blend of negotiation, logistics, and diplomacy. It's not just about finding the right car for the right buyer, but also about understanding import-export regulations, shipping protocols, and foreign exchange rates.

To provide major value, consider specializing in hard-to-find models, high-demand vehicles, or offering auxiliary services like detailed vehicle inspections. The world of vehicle exporting is vast and explorative, and it's a journey worth embarking on for driven entrepreneurs; ready to conquer.

21. Start an online food business

Gone are the days when food lovers needed to leave their homes for delectable delights. Insert: online food business. This venture allows individuals or groups to offer ready-to-eat meals or pre-packaged ingredients for home preparation, straight to customers' doorsteps.

In simple terms, the business centers on creating and selling meals through an online platform. In a world perpetually pursuing convenience and variety, this idea caters to a diverse audience—busy professionals seeking nutritious meals, cooking novices craving guidance, or adventurous eaters exploring global cuisines.

As an owner of an online food business, you'll be involved in menu planning, sourcing ingredients, preparation, packaging, and delivering—while constantly innovating and adapting to the ever-changing food trends and dietary preferences. With the right blend of business acumen and culinary passion, the online food business can offer a unique opportunity to merge profit with satisfaction—giving people the gift of good food while filling a fundamental market gap.

22. Start a mystery game store

Engaging their intellect and curiosity, who doesn't love a good mystery? By establishing a mystery game store, you'll cater to this innate fascination. The business proposition is simple: provide various tactile puzzle games, brain-churning intrigue games, and immersive mystery-based board games in one dedicated shop.

While online gaming has its allure, there's an undeniably compelling appeal associated with tangible games: the physicality of puzzle pieces, the anticipation when spinning a wheel, and the thrill of playing against others face-to-face.

Your store will bring individuals together, aspiring to create a buzzing community of mystery enthusiasts. It can serve as a hub for game nights, puzzle solving events, and intriguing product launches. As the proprietor of this venture, you'll possess the ability to stimulate minds, promote in-person connectivity and provoke thrilling wonder in each customer. Consider stepping into the enchanting world of mysteries and become a pioneer of this unique retail experience.

23. Start a hygiene product company

Starting a hygiene products business can be a lucrative and rewarding venture. This type of business involves producing and selling products that help people maintain cleanliness and personal hygiene, such as soap, hand sanitizer, and disinfectant wipes.

To start and run this business successfully, you will need to have a solid understanding of the market and the needs of your target customers. You will also need a reliable source of raw materials, such as oils and fragrances, to create your products.

In addition, you will need to have a good business plan in place, including a marketing strategy and a financial plan. You will also need to be willing to invest time and resources into research and development to ensure that your products are of high quality and meet the needs of your customers.

Finally, it is essential to have a solid online presence to reach a wider audience and market your products effectively. This can include a website, social media accounts, and an email list to stay in touch with your customers.

Overall, starting a hygiene products business requires a combination of market research, product development, and effective marketing. With hard work and dedication, this business can be a rewarding and profitable venture.

24. Start a jewelry making business

The global jewelry market size was valued at $278B in 2018 and is expected to reach $292B by 2025.

The industry comprises manufacturers, wholesalers, retailers, and jewelry designers. Unlike many other industries that have gone through leaps in technology, the jewelry industry has remained untouched for over 40 years.

If you know how to make jewelry, then this might be a great way to make some extra money.

25. Start a photo printing business

Are you keen on preserving moments and keen on business? Here's an idea for you: a photo printing service. This business centers around printing digital images onto physical mediums - think high-quality paper photos, canvas prints, or personalized photo gifts.

In today's digital age, there's a certain charm to physical photographs, creating a tangible memory people can hold on to. You'll be offering customers a nostalgia-inducing service, bringing their shots to life and enabling them to cherish these moments eternally. Strategizing your business for both online and physical interactions will expand your reach to photo enthusiasts far and near.

Entering the photo printing business might also tap into your creative side, allowing you to experiment with different materials and styles. With the right marketing approach and high-quality service, this business idea could be a profitable venture that allows you to combine passion with profit.

26. 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.

27. Start a food delivery business

In today’s busy lifestyles and schedules, cooking is no longer a priority to many. People like to order-in food from their nearest restaurants or food joints and enjoy a meal in the comfort of their homes.

The food delivery business is like a courier service through which restaurants deliver food to their customers.

You can offer retail food delivery services to restaurants within your locality if you have a truck. Customers order through a restaurant or grocer’s website, and the owners contact you to deliver.

28. Start a mattress brand

Do you want to start a mattress business? Starting a mattress brand is a lucrative business you can set up in any part of the world. The truth is that the demand for mattresses is increasing as the population continues growing. Data shows that the global mattress market is growing by a CAGR of 6.7% over the past few years, and this growth will not slow down anytime soon. However, whether you shall be a wholesale or a retail mattress business, finding a good location is the key to the success of your business!

In recent years, strip malls have remained a good position for consumer goods such as mattresses.

29. Start a publishing business

Starting a publishing business can be a rewarding and lucrative endeavor for those with a passion for literature and strong business acumen. This type of business involves producing and distributing written materials such as books, magazines, and digital content.

To start a publishing business, you need a solid business plan outlining your goals and target market. You will also need to secure funding to cover the costs of printing and distributing your materials. This can include obtaining loans or seeking investors.

In addition to financial resources, you will need a team of professionals with expertise in editing, design, marketing, and sales. It’s important to build a diverse and skilled team to ensure the success of your business.

Success in the publishing industry requires a strong understanding of current trends and adapting to changing market conditions. Stay current on industry news and continually seek new opportunities to grow and expand your business.

Starting a publishing business requires hard work, dedication, and a willingness to take risks. But with the right team and strategy, it can be a fulfilling and profitable venture.

30. Start an online advertising agency

An online advertising agency provides business owners with a wide range of marketing services to help them reach targeted customers, and increase their product or service sales.

Services offered by online advertising agencies include creating ads, planning marketing campaigns, deciding the best platforms for reaching the target audience, and analyzing performance to help businesses make strategic marketing and advertising decisions.

31. Start a crime scene cleanup business

Are you ready to work in situations that may include bloodborne pathogens? Crime scenes and trauma cleanup business idea is one of the fastest-growing and highly profitable businesses you can start today.

The crime scene cleaning business involves handling dozens of cold cases which involves double-checking crime scenes. You can offer cleaning up after suicides, homicides, and other types of violent crimes. Also provide emergency services for when an unexpected death occurs at a home or business.

32. Start a laptop accessories brand

Laptop accessories are items that enhance the functionality of a laptop. These can include external hard drives, docking stations, and carrying cases.

To start a laptop accessories brand, you will need strong marketing and design skills. You should also have a good understanding of the laptop market and what accessories are more popular.

The recent trends in the laptop accessories industry are moving towards eco-friendly and sustainable products. Businesses are looking for ways to reduce their environmental impact and offer their customers products that are made from sustainable materials.

Starting a laptop accessories brand is a great way to enter the world of product design. This type of business growing in popularity as people are looking for ways to personalize their laptops.

33. Start an aerial imagery business

34. Start a speaker store

35. Start a marketing agency

Marketing agencies can be a great option for businesses looking to advertise in different ways. For businesses, hiring a marketing company can help them achieve success as they don't have to spend money on employees or needed equipment. Marketing agencies are not inexpensive and there are many different variables that come into play when deciding which one is the best fit for your business.

You want to start a marketing agency, but don't know where to begin. You're not alone, there are thousands of entrepreneurs across the globe that have the same ambition. Luckily for you, compiled a list of how other agencies were able to grow their agency and scale effectively.

36. Start a cycling tools business

37. Start a children's clothing business

The children's clothing business has grown rapidly over the last few years, and in 2022 was valued at $263.30 billion.

Starting a children's clothing business gives you the opportunity to be your own boss while working in a field you enjoy. While you have to be prepared to work long hours and put in lots of hard effort, it can be extremely rewarding if successful.

38. Start a team collaboration app

39. 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.

40. Start a marketing agency

Marketing agencies can be a great option for businesses looking to advertise in different ways. For businesses, hiring a marketing company can help them achieve success as they don't have to spend money on employees or needed equipment. Marketing agencies are not inexpensive and there are many different variables that come into play when deciding which one is the best fit for your business.

You want to start a marketing agency, but don't know where to begin. You're not alone, there are thousands of entrepreneurs across the globe that have the same ambition. Luckily for you, compiled a list of how other agencies were able to grow their agency and scale effectively.

41. Start a dermatology business

The beauty and wellness industry is booming all across the globe. Not only has the demand for skin care, nail care, hair care, and face care products increased, but also people are conscious of the benefits of consulting experts.

If you are enthusiastic about beauty and wellness and want to start a business, you may consider starting a dermatology business. Dermatologists specialize in skin, hair, and nails. They help patients who suffer cosmetic disorders like hair loss and scars.

Cases of skin disorders among the elderly and the need for skin care and beauty solutions among younger and middle-aged people are reasons services of dermatologists are in high demand. To start the dermatologist business, research the market and choose a niche that you may specialize in.

42. Start an outsourcing business

Outsourcing is when a business obtains a product or a service from an outsider provider rather than building it in-house. Small companies outsource so they have enough time to attend to critical functions like production.

Many businesses are looking to outsource their non-core activities. Therefore, starting an outsourcing business in 2023 has never been more lucrative.

Start your outsourcing business, identify a niche, and develop a well-researched and complete business plan. Then, invest in the necessary equipment and technology to enable you to deliver services to the customers.

Depending on the nature of your business, you may need staff to help you with service delivery. Finally, when your business is up and running, start marketing and focus on delivering superior service to attract repeat customers.

43. 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.

44. Dropshipping men's grooming products

The global market for men’s grooming products is witnessing steady growth due to growing consumer preferences, and it is expected to witness a CAGR of 4.29% in the next few years.

Products such as shaving foams, face creams, after-shave lotions, and body sprays are among the highest in-demand men’s grooming products.

To start a men’s grooming products dropshipping business, high-quality research products, find a market, build a website and launch the business. Remember, as you begin the drop shipping business, people will come up with ideas. Listen to your customers, and implement necessary ideas to ensure the company is booming.

45. Start a solar energy business

Switching to solar energy has become the best way to save money by reducing utility bills. Are you interested in starting a business that focuses on renewable energy solutions?

A solar company can be a great business idea. You can set up a solar energy plant and sell the power to households and businesses without requiring them to purchase the entire solar energy system.

46. Start a dolly product

47. Start a mobile veterinary service

A mobile veterinary service is just what it sounds like, your pet receives veterinary care in a car. A mobile unit is much cheaper than building a clinic.

As the number of pet owners is growing, there is also an increase in the number of pets that require check-ups and emergency services. If you are looking for a relatively low investment way to start a business, then starting a mobile veterinary service might be the right business for you.

48. Start a proposal software app

A proposal software app is a program that streamlines the process of creating, sending, and closing proposals, quotes, contracts, and other sales documents. The common users of proposal apps include consultants and business executives who want to generate a personalized and professional-looking proposal. A good example of a proposal software app is Proposify

In creating your proposal app, first, understand how the target users interact with their proposals. Then, provide them with a suite of options so they choose ones that they feel convenient to use. Ensure your software enables the user to produce sleek business proposals quickly.

Typically, the proposal software should be intuitive for any user and should include critical automation and support client interaction tracking, to make proposal creation easy. Build a great product that solves your customer’s pain.

Finally, set up a customer support team that will be directly responsible for guiding customers through the onboarding process, and work towards retaining and expanding accounts.

49. Start a white pages tool

No one wants to play detective when looking for crucial contact information. Enter the concept of a white pages tool - a streamlined online platform that offers quick and easy access to a wide database of personal and businesses contact details.

This fall under a digital version of the traditional telephone directory, with immense potential considering the massive migration to online communication. The core business involves gathering, verifying, and updating contact information, offering it to users on an interactive and user-friendly interface.

Entrepreneurs with a knack for data management and keen attention to detail would find this business idea particularly riveting. Your customers would range from individuals searching for long-lost contacts to businesses keen on expanding their clientele.

With today's need for efficient and reliable communication, a white pages tool is a necessity, not just a luxury. And that's a marketplace commandment you'd want your business to capitalize on.

50. Start a business communications software

Picture a world of effortless business communication. That’s the premise behind starting a business in business communications software. Essentially, your enterprise would create cutting-edge tools that facilitate seamless communication within, and possibly even between, companies.

This business reaches deep into a company's workflow, streamlining processes, amplifying productivity, and thereby increasing profitability. With a well-developed product, you could help businesses bridge communication gaps, enhance collaboration, and foster a more engaging and efficient work environment.

Given the modern era's emphasis on technology and remote work, the market for reliable, user-friendly communication software is nothing short of massive. As this is a largely uncharted territory with countless untapped opportunities, it's an exciting field to navigate with your business idea. As the architect behind the communication tools of tomorrow, you'll not only shape how businesses interact, but could also break new ground in the realm of business software solutions.

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