The 46 Best Business Ideas In Trinidad and Tobago [2024]
Interested in starting a business in Trinidad and Tobago in 2024?
We put together 46 of the best businesses you can start in Trinidad and Tobago today.
In this list of ideas, you can find:
- Home-based businesses to start in Trinidad and Tobago
- Profitable online business ideas
- Unique business opportunities for Trinidad and Tobago
- Low investment business ideas (under $5k to start)
- Easy businesses you can start in Trinidad and Tobago today
For each business idea, we’ll show you real-world examples, revenue expectations for each idea, + a step-by-step on how to start your small business in Trinidad and Tobago.
Here's the full list:
1. Start a voice over service
Voiceover artist is an auditory performer who uses their voice in scripted presentations. The role of a voiceover artist is only to be heard but not to be seen.
Working as a voiceover artist is an opportunity to choose the projects you enjoy engaging in. The role of a voiceover artist is also fun and can help you meet new people.
To become a voiceover artist in Trinidad and Tobago, start practicing aloud reading so you familiarize yourself with your sound. Then, create your recording studio where you can practice your voiceover skills. It would help if you had a quality microphone, professional recording software, a computer, and soundproofing materials.
How much you can make: $400 — $60,000/month
How long does it take to build: 90 days (?)
Voice Crafters, a multilingual voice-over agency and marketplace founded by Mony Raanan, doubled their revenue to over $765,000 in 2022 with a bottom line of around 30% after transitioning to an online marketplace and carefully vetting their network of over 1,000 professional voice actors in more than 80 languages.
2. Start a SEO agency
An SEO agency is a company that provides search engine optimization services to businesses. The function of an SEO agency is to help businesses rank higher in search engines through organic or paid means.
SEO is a rapidly growing industry, with experts across all aspects of the field already making six-figure incomes and expecting to see these earnings grow dramatically over the next few years. Getting into SEO today, before it gets too saturated, will allow you to establish a strong base in a new career, with an excellent chance for success.
It’s easier than ever to start your SEO agency in Trinidad and Tobago. The tools are there, and the competition isn’t as stiff as it used to be. If you’re considering starting an SEO or digital marketing agency, it might be a good idea to learn how other digital agencies succeed.
How much you can make: $1,000 — $1,800,000/month
How much does it cost to start: $1,000 (?)
How long does it take to build: 60 days (?)
Rankings.io is a hyper-focused SEO agency that helps elite personal injury law firms dominate first page rankings and was ranked #858 in the Inc. 5000 list of the fastest-growing companies in America for 2018, with a current revenue just under $300,000 per month, with plans for a record-breaking year.
3. Become a virtual assistant
Virtual assistants support businesses, teams, or individuals by performing administrative tasks remotely. As businesses these days tend to outsource their tasks, the demand for virtual assistants is growing rapidly.
Becoming a virtual assistant is flexible, as you can choose a work schedule and location at your convenience. Many virtual assistants in Trinidad and Tobago have a dedicated home office where they work in a quiet and distraction-free environment.
To become a virtual assistant, identify a niche you like and undertake any training. Then, figure out how much to charge your customers and create an online presence where you can apply for jobs. As a virtual assistant, you can define your work schedule depending on your availability.
How much you can make: $1,000 — $1,000,000/month
How much does it cost to start: $1,000 (?)
How long does it take to build: 60 days (?)
Filipino Virtual Assistance by FVA Business Consultancy, founded by Julmar Grace Locsin, offers online and offline training to empower marketers, enable businesses, and equip freelancers which has trained 25,000 students from their 31 courses, has 16 coaches assigned from different territories, and fifteen in the FVA team for global digital leadership that will impact the world through digitalization, one life at a time.
4. Start a travel agency
Are you a passionate traveler with entrepreneurial skills? Then starting a travel agency can be a great career choice for you.
As a travel agency, you'll be responsible for linking travelers to providers of all the travel and tourism-related services such as accommodation, transportation, sightseeing, tour guides, local adventure, etc.
Starting an online travel agency is a lot easier than you might think. You'll need to perform market research, get a few necessary certifications (such as your IATA number), study competition, build a website, and do proper marketing.
To maximize earnings, negotiate discounts from the industry service providers, and charge travelers within the market rate.
How much you can make: $2,000 — $114,200,000/month
How much does it cost to start: $1,000 (?)
How long does it take to build: 90 days (?)
Marissa Daniels runs a successful travel agency, Spread Your Wings Travel, that hit $100,000 in sales within a year of launch and provides payment plan options for its all-inclusive vacations, and she hopes to help 100 families supplement their income through the business.
5. Start a mobile app development business
Mobile app development is the process of creating software applications that run on mobile devices. These apps can be used for a variety of purposes, including games, productivity, and social networking.
Starting a mobile app development business is a great way to enter the world of software development. This type of company is growing in popularity as businesses are looking for ways to reach their customers through mobile apps.
To start a mobile app development company, you need to have strong technical skills and be able to develop high-quality software. You should also have a good understanding of how to market and sell mobile apps
How much you can make: $7,500 — $2,333,333/month
How much does it cost to start: $7,500 (?)
How long does it take to build: 120 days (?)
"We started a custom iOS and Android app development consultancy that now makes nearly seven-figures a year by landing clients like Great Clips and the USA CUP after building successful concept apps."
6. Become a software developer
A software developer is a person who creates computer programs. They design, test, and oversee the creation of software for a variety of purposes including businesses, personal use, or social networking.
If you have strong technical skills and experience in programming, you can start a software development business. You should also have a good understanding of how the software works.
The average salary for software developers is $110,140. The best-paid 25 percent earn an annual income of up to 140K dollars while the lowest-paid workers make just under 84K dollars.
The recent trends in software development are moving towards mobile apps and cloud-based solutions. Businesses are providing a variety of programming languages and tools to create software that meets the client's needs.
Starting a software development company is the perfect way to explore in this exciting industry. This type of business is growing in popularity as businesses are looking for ways to offer their customers a convenient way to access their data and applications.
How much you can make: $1,700 — $465,583,333/month
How long does it take to build: 180 days (?)
SkyVerge, a software company, has grown rapidly with revenue of $350,000 per month, over 100,000 eCommerce customers, and a globally distributed team of 30 people, all through starting with consulting projects and building focused and solutions-based products, acquiring small products from other developers, and focusing largely on content marketing and providing excellent customer support.
7. Start an affiliate marketing business
Are you looking for a side hustle to pay you a passive income? Affiliate marketing is one of those side hustles that will pay you well over the long term. It is a way to earn money online by promoting other companies' products and services. You will be paid a commission for each sale you make as an affiliate marketer.
To get started, learn how to find the right product and brand to partner with. For example, you may prefer becoming an affiliate marketer for an eCommerce store, partnering with a manufacturer, and marketing their products for a commission.
How much you can make: $500 — $773,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 60 days (?)
Bar Games 101 is an authority website about classic bar games with over 200K monthly visitors and revenue over $4,000 for the month of August, achieved through consistent publishing of researched articles and outsourcing by the founder.
8. Start a beverage company
Are you thinking of starting a beverage or drink business?
Starting a beverage company can be a great way to combine your love of food and drink with a passion for entrepreneurship.
Beverage companies can make all sorts of different drinks, from juice to soda to beer. They can also sell other types of food products, like bottled water or snacks.
There are more and more drink options available today than ever before—and that means that beverage companies are constantly trying new things in order to stay competitive in this space! The more innovative they can be with their offerings, the better they'll be able to compete with one another
How much you can make: $500 — $200,000,000/month
How long does it take to build: 250 days (?)
BruMate is a successful insulated drinkware brand focused on the adult beverage community, with a flagship product that generated $2.1M in sales in 2017 and is now doing over $1.1M per month in sales, with plans to do $20M this year.
9. Start a dropshipping business
Dropshipping is a business model where you sell products to customers without holding inventory.
Instead, when a customer makes a purchase, you buy the product from a third-party supplier, who then ships it directly to the customer.
To start a dropshipping business on a budget, choose a niche or category of products you want to sell.
Next, set up an online store using platforms like Shopify or WooCommerce. Then, find reliable suppliers from platforms like AliExpress, list their products on your store, and focus on marketing and customer service to grow your business.
Remember to carefully manage your expenses and monitor your profit margins to ensure profitability.
How much you can make: $6,000 — $3,000,000/month
How much does it cost to start: $6,000 (?)
How long does it take to build: 90 days (?)
Time commitment per week: Min. 10 hours/week
Entrepreneur Kamil Sattar has developed multiple six-figure drop shipping businesses, and his company, e-commerce mentoring, specializes in helping others create their own successful companies, with favorite platforms including using Shopify and apps such as Loox reviews and SMSBump.
10. Start a mobile photography business
Want to start your own photography business? You're not alone. With the rise of social media and photo-sharing, blogging, and online retailing, it's never been easier to start making money behind your camera.
There are photographers shooting weddings, creating images for ad campaigns, freelancing for magazines, touring the world, taking photographs of destinations — the list is endless!
To start mobile photography in Trinidad and Tobago, research the target audience and determine which specialization area is more lucrative. Invest in high-quality, professional cameras, lenses, and a computer with professional software photo-editing software.
How much you can make: $2,000 — $500,000/month
How much does it cost to start: $5,000 (?)
How long does it take to build: 200 days (?)
Photobooth Supply Co. offers a profitable business opportunity through their sleek and portable photo booths, with up to 97% satisfaction rate and a focus on customer experience, in a fast-growing event industry where photo booths are exploding.
11. Start an online video editing business
Video editors manage camera footage, dialogue, sound effects, graphics, and special effects to produce the final film or video product. To become an online video editor, you must have media production and communication knowledge and the ability to work with others.
To start a video editing business, you can outsource video editing skills from an experienced professional. Your role will be to pick video footage from the customers and upload them for the video editor to do the magic.
How much you can make: $2,000 — $208,000/month
How long does it take to build: 145 days (?)
VEED.IO, a London-based start-up co-founded by Sabba and her partner, offers a simple online video editing platform using batch job cloud architecture to help social media managers across the world auto subtitle, filter, rotate videos and much more, earning the company $5,300 MRR and the founders Ramen profitability within just a year of starting.
12. Start a real estate business
Are you a qualified architect with a broad range of knowledge in the real estate field? Starting a real estate business can be a profitable venture.
Real estate involves purchasing, selling, managing, or investing in land and buildings.
To become a successful real estate business owner, you must have finely honed visual awareness and a strong understanding of various building materials and structures.
How much you can make: $5,000 — $1,500,000/month
How long does it take to build: 180 days (?)
This case study is about T. C. Lewis & Co, a real estate investment and management firm that successfully diversified their approach to include sales, development, remodeling, and construction, with property management being the key to investor doors and organic growth.
13. Become a mobile personal trainer
Do you love helping people through their fitness journey? If you want a great side hustle to earn extra income, consider becoming a personal trainer.
The fitness trainer side hustle can be an adamant industry to earn good money. However, once you develop a reputation as a good trainer, you can get more clients through referrals. You need to register for the certification course to start offering personal trainer services in Trinidad and Tobago.
To attract your first clients, consider online advertising, and seek referrals from every customer.
How much you can make: $600 — $8,333,333/month
How long does it take to build: 532 days (?)
Time commitment per week: Min. 4 hours/week
Live Fit, a personal training company founded in 2011, grew from earning $80,000 in their first year with two trainers to earning over $760,000 in 2019 with 12 trainers and two locations, thanks to a focus on building trusting relationships and providing a variety of services to clients.
14. Become a proofreader
Proofreading business is a service that helps customers review their written work and ensure it is ready for publication. Typically, a proofreader corrects grammatical errors and provides the written piece meets any relevant style guide.
As a proofreader, you can work online, allowing you to choose what time to work.
If you plan to start a professional proofreading business in Trinidad and Tobago, make sure you possess the following skills:
- Have an excellent grasp of grammar
- Ability to correct mistakenly capitalized words
- Familiarity with the proper use of capitalization
- Use spell-checkers to flag misspelled words
Proofreading is a great way to enhance content quality. With the increased use of written content marketing to reach a broader market, the demand for professional proofreaders has grown tremendously. Professional proofreaders earn an average of $12/hr. And $30/hr.
Therefore, consider proofreading as a business if you are looking for a great side hustle idea or simply looking for ways to increase your income.
How much you can make: $2,000/month
A proofreader was able to build a consistent income of ~$2,000 per month from scratch with zero experience in the field, no expenses, and barely any upfront costs by targeting bloggers and content creators who want their content to be copy edited and proofread.
15. Start a content writing company
Content writing involves writing, editing, and publishing content in a digital format. Examples of content include a blog post, product description, and podcast script—eBooks, press releases, or landing page content.
Becoming a content writer allows you to work as your boss. Therefore, you choose whatever working schedule suits you and take a manageable workload. Moreover, content writing helps you develop essential skills you may not obtain from regular writing.
Content writing is a highly-on-demand service, as companies compete for the online audience who often begin their shopping journey by searching for relevant and educative content online. Therefore, a content writing company is an excellent source of passive income.
To start a content writing company in Trinidad and Tobago, research the market and choose a suitable niche. Sketch a proper business plan and create a website. Hire a pool of talented writers and leverage modern technology to streamline operations.
How much you can make: $1,000 — $250,000/month
How much does it cost to start: $550 (?)
How long does it take to build: 30 days (?)
Scribly.io, a subscription-based copywriting service providing high quality content that helps businesses scale at roughly 50% of the cost of hiring in-house, created by Dani, a first-time entrepreneur who started with just a few hundred dollars worth of projects and with the help of three other writers; as of last month, Scribly.io topped $14K monthly revenue.
16. Start a blog
In recent years, blogging has become a highly sought-after & lucrative Business. This location-independent business is a creative outlet to reach a broader audience and even work at any time. According to Optinmonster’s list of blogging statistics and facts:
- Blogs have been rated as the 5th most trustworthy source of gathering online information.
- 77% of internet users read blogs.
- Each month, approximately 409 million people view more than 20 billion pages.
Originally blogging started as an online journal, but today it is a highly profitable career option. Many people are choosing blogging as their full-time career and are earning their bread and butter from this profession.
If you want to start blogging as a side hustle or as a full-time profession, choose a niche you will enjoy writing about and have a content strategy ready. Then, create a mailing list, and decide on a good blog posting routine to keep your audience engaged.
How much you can make: $200 — $160,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 44 days (?)
Time commitment per week: Min. 5 hours/week
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.
17. Start a boutique
You may consider opening a boutique if you are passionate about the fashion and textile industry.
A boutique is a shop that sells clothes. Opening a boutique is a dream for entrepreneurs who want to experience the joy and freedom of owning a cash business. Starting a boutique is easy and can be managed by a single individual. In addition, a boutique requires a comparatively smaller capital to start.
To succeed, the boutique owner must coming creativity and passion.
How much you can make: $10,000 — $25,000/month
How much does it cost to start: $100 (?)
Boutique Rye is an online-only women's clothing and accessories boutique that has grown to 3,200 Facebook Group members and a successful website through organic customer sharing, live sales, and open communication with customers.
18. Start a freelancer platform
Freelancer platform is a place where people come with skills and services to offer and people come who need those skills and services. So we can say freelancer platforms are a marketplace for sellers and buyers of services and skills.
The freelancing industry is growing rapidly and it's becoming a popular career option for people who are "non-traditional" employees. The global Freelance Platforms market size is expected to reach $6.7B by the year 2025. While working on a full-time job, freelancers simultaneously work on a freelance career. The platforms available online help them to increase their business by attracting new clients.
With all of the businesses looking for help on their websites, it would be a good idea to start a freelancer platform. Freelance platforms do well because people have jobs that need to be done and businesses have the resources to pay for the job at hand.
How much you can make: $3,000 — $5,000,000/month
How long does it take to build: 80 days (?)
CloudDevs, a tech talent platform that sources and vets freelance tech talent and matches them with companies, has achieved $1 million in GMV in its first year, plans to achieve 100% growth year on year, and focuses on customer loyalty through its Net Promoter Score metric.
19. Start a language translation service
Language translation services bridge the linguistic barriers, helping businesses reach a wider audience outside of a single language. A language translation job is an opportunity to cover a wide range of topics and meet people from different cultures.
To become a language translator in Trinidad and Tobago, master a second language and earn some experience so you become fluent in the second language.
How much you can make: $40,000 — $550,000/month
How long does it take to build: 70 days (?)
DEMAN Translations grew from 6 employees and 1.5 million euros in turnover in 2015 to 17 team members and 3.5 million euros in sales in 2020 after acquiring 12 other translation agencies, with a goal to reach 6 million euros this year and 10 million euros in 2022.
20. Start a tutoring or education business
When students have problems with their schoolwork, they turn to tutors for help.
Being a tutor awakens your entrepreneurial skills. Being your own boss allows you to set your own schedule and be more independent. You'll create lasting relationships with students and their parents. Last but not least: you get paid well!
How much you can make: $1,700 — $500,000/month
How much does it cost to start: $4,000 (?)
How long does it take to build: 90 days (?)
Online makeup academy, Vizio Makeup Academy, founded in 2011 by Anastasia Andreani and her partner, has enrolled over 3,300 students and generated $2.4M in revenue this year, by offering professional makeup courses online and creating their own cosmetic line.
21. Start a travel agency
Are you a passionate traveler with entrepreneurial skills? Then starting a travel agency can be a great career choice for you.
As a travel agency, you'll be responsible for linking travelers to providers of all the travel and tourism-related services such as accommodation, transportation, sightseeing, tour guides, local adventure, etc.
Starting an online travel agency is a lot easier than you might think. You'll need to perform market research, get a few necessary certifications (such as your IATA number), study competition, build a website, and do proper marketing.
To maximize earnings, negotiate discounts from the industry service providers, and charge travelers within the market rate.
How much you can make: $2,000 — $114,200,000/month
How much does it cost to start: $1,000 (?)
How long does it take to build: 90 days (?)
Marissa Daniels runs a successful travel agency, Spread Your Wings Travel, that hit $100,000 in sales within a year of launch and provides payment plan options for its all-inclusive vacations, and she hopes to help 100 families supplement their income through the business.
22. Start an online advertising agency
An online advertising agency helps businesses promote their products or services on the internet.
To start this business on a budget, first learn the basics of digital marketing through free online resources.
Create a professional website and set up profiles on social media platforms to showcase your skills.
Build a portfolio by working on mock campaigns or offering discounted services to friends and family, and gradually market your services to attract clients.
With dedication, you can grow your agency over time.
How much you can make: $2,797 — $1,250,000/month
How much does it cost to start: $2,250 (?)
How long does it take to build: 45 days (?)
Iman Gadzhi made over $1.2M in profit within two years with his social media marketing agency and education company, where he teaches entrepreneurs how to start and scale a profitable SMMA, with over 45 of his students making over six figures with their SMMA, and over 300 students having quit their regular jobs.
23. Become an eBay seller
eBay sellers sell new and used clothing, electronics, books, collectibles, and other items on eBay. If you are new to the eBay marketplace, it is best to start slowly, learn the landscape and its rules, and focus on growing your sales.
Whether you want to make some extra cash or clear out unwanted items from around the house, it is easy to get started selling on eBay.
Some things you'll need to do to get started:
- You must choose, and source products to sell, create, and verify your eBay business account.
- Personalize the eBay account and policies, set up payment details, and ensure you adhere to eBay rules and regulations.
Once you're up and running, you can boost your eBay sales using these marketing and promotion tools available provided by eBay.
How much you can make: $5,000/month
This case study follows founder Chris Casseday's journey in creating 513 Kicks, an online sneaker shop that went from sporadic income to an average profit of $2,000 per month within two years through strategic branding, SEO, social media, and email marketing.
24. Start a dropshipping reseller
Drop shipping is a retail fulfilment method in which the retailer does not keep goods in stock but instead transfers customer orders and shipment details to either the manufacturer, another retailer, or a wholesaler, who then ships the goods directly to the customer.
Drop shipping doesn't require much investment and it has a low risk because it doesn't require upfront costs. Besides, dropshipping can be a profitable business model for merchants since they do not pay for shipping or cost of product manufacturing.
To start the business follow these steps:
- Choose a niche
- Perform competition research
- Find a reputable manufacturer/supplier
- Build an online store
- Market your store
- Analyze and improve your offering
If you do not want to create a dropshipping business from scratch, you can find a dropshipping business for sale on exchange marketplace.
How much you can make: $6,000 — $150,000/month
How much does it cost to start: $1,000 (?)
Entrepreneur Kamil Sattar has developed multiple six-figure drop shipping businesses, and his company, e-commerce mentoring, specializes in helping others create their own successful companies, with favorite platforms including using Shopify and apps such as Loox reviews and SMSBump.
25. Start an internet privacy app
Internet privacy apps enable users to search the internet without worrying about getting tracked online.
Alarming cases of data breaches like Cambridge Analytica and Equifax, internet users are keen on protecting their privacy online.
To stay safe, internet users are using privacy applications, a trend that is creating business opportunities for entrepreneurs looking for the best App based business ideas.
To build an internet privacy application, research the most popular websites based on the user search frequency.
Then, build an application that is easy to use and fast so that the search results display almost instantly. Remember to add more features to the application to give the users a broader experience, increase interaction and keep the application engaged.
Before launching the beta version, please test it out and give users enough time to provide feedback. Market and launch the application.
How much you can make: $100 — $83,333/month
How long does it take to build: 272 days (?)
Snap Search, an Android app that allows online searches without being tracked for data and privacy concerns created by founder Rajat from Bangalore, gained over 9,000 searches within the first two months of launch without any marketing costs and is planning for the development of an iOS version and expansion for additional payment methods.
26. Start a food truck
Food trucks are a highly profitable business that offers customers a variety of meal options out of a mobile truck. This basically operates inside a large vehicle equipped with kitchen and food products. Starting a food truck is a dream for many people, but it's more challenging than it looks. To make it work, you need the ideal location and menu.
To start a food truck business in a particular city, it is mandatory to check what kind of food trucks are already operating, identify a gap, and bring in some new experiences. Then, with the right plan and the right approach, you can be on your way to starting your own food truck empire.
How much you can make: $29,166 — $61,650,000/month
How long does it take to build: 75 days (?)
Time commitment per week: Min. 5 hours/week
Food Fleet grew over 160% in just one year and managed over 20 million in sales for its clients, securing multiple contracts with the likes of Sodexo, Levy Restaurants and more, due to its understanding of catering client needs and its advanced turnkey and design services.
27. Start a digital marketing business
Digital marketing businesses serve local and international companies to expand their reach and grow revenue. A top reason digital marketing is so exciting is that the field is constantly evolving and is easy to learn.
If you plan to start a digital marketing business in Trinidad and Tobago, educate yourself and understand how digital marketing agencies work. Then, focus on building your digital skills and advancing your career through online digital marketing courses.
To stand out, find a digital marketing niche and focus on the audience interested in your services.
How much you can make: $2,000 — $6,660,000/month
How much does it cost to start: $1,260 (?)
How long does it take to build: 58 days (?)
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.
28. Start a web design & online marketing business
If you know about website design and marketing concepts then starting your own web design and online marketing business could be the perfect opportunity for you to do so.
The online marketing industry is the second largest industry in the United States and continues to grow. The online marketing industry is massive. It is estimated to grow by 30% annually, reaching $400B in the next four years.
How much you can make: $6,000 — $800,000/month
How Shannon Mattern built a DIY web design training business from scratch that now generates $10k/month in revenue through affiliate commissions and courses, without outside investment or debt.
29. Start a podcast
The podcast business involves creating and producing audio content that people can listen to online.
It’s a popular form of entertainment and information-sharing.
To start a podcast business on a budget, you'll need a few key steps.
First, choose a niche or topic that you're passionate about and that has an audience.
Next, get basic recording equipment like a microphone and headphones.
Then, find a free or affordable hosting platform to publish your episodes.
Finally, promote your podcast through social media, online communities, and word of mouth to build an audience and potentially attract sponsors or advertisers.
How much you can make: $400 — $1,020,000/month
How much does it cost to start: $3,055 (?)
How long does it take to build: 60 days (?)
Time commitment per week: Min. 2 hours/week
A successful podcast production company that grew from one client making $15/hour to a team of 10 contractors producing over 30 shows per week with revenue of over $10k/mo, primarily through referrals and with a focus on providing high personal touch and being picky about working only with clients who are a good fit.
30. Start a grocery store
A grocery store sells a wide variety of food products, fresh or packaged, and other household & personal care items. The grocery store industry is the largest retail channel that makes $682 billion in the United States.
To start a basic grocery store, you can expect to spend a minimum of $50,000. Ideally, the bigger expense would be the rent, equipment, labor cost, cash registers/POS systems, and software. Some of these are recurring monthly fees. However, the location, size of the store, competitors, and local customers will significantly impact the business. A new grocer should sell more items for a lower price to make a more significant profit.
A new grocer can also save costs by buying the items from local distributors. The distributor is the middleman between the manufacturer and the grocery store selling it. Once the store cost and location are decided, the next step is to obtain a seller license. In most states, a grocer's license is required to run a grocery store.
Thus an average grocery store has a profit margin of 3% to 5%. The profit rates depend on the store's location, size, and popularity. On average, a small to medium grocery store can make a profit of up to $300,000 annually if all the profit factors are considered.
Another way to make your business more profitable is to diversify your store and add amenities like a coffee shop or stocking up the front of the store with magazines, batteries, etc., as these items can cross a margin of up to 70%. As a rule of thumb, offering lower prices on higher purchases will ultimately win more customers and increase profitability.
31. Start a social media management business
Similar to virtual assistants, social media managers offer various services, including but not limited to:
- Developing a marketing strategy based on clients’ goals
- Setting up social media accounts
- Posting on behalf of their clients
- Coming up with strategies for increasing client’s social media following
- Marketing analysis.
To become a social media manager, know the various platforms and understand how they work so you can develop strategies that help clients reach their goals.
The beauty of working as a social media manager is that you can define your work schedule and choose what niches to work on.
How much you can make: $20,000 — $166,667/month
How much does it cost to start: $251 (?)
How long does it take to build: 3 days (?)
A social media manager turned entrepreneur created a program that has brought in almost $100,000 in one year, designed to teach women how to run successful social media businesses in less than 30 days.
32. Start a surprise travel agency
Are you looking for a scalable side hustle idea and one that allows you some flexibility?
A surprise travel agency is a good option that will enable you to choose a friendly niche market.
Besides, a surprise travel agency lets you gain exposure and experience while it is an opportunity with unlimited income potential.
If you love sharing travel recommendations and always find the best local spots when you visit a new city, this will be ideal for you.
How much you can make: $15,000 — $550,000/month
How much does it cost to start: $250 (?)
How long does it take to build: 90 days (?)
Time commitment per week: Min. 7 hours/week
Whisked Away Surprise Travel is a curated travel service for clients overwhelmed by the planning process, with revenue growth exponentially increasing each year since its launch in March 2017.
33. Become an Upwork freelancer
There are thousands of categories available to offer your services. Upwork has become a huge platform, attracting millions of people that search for reliable freelancers to work with. Take a moment to go through all the categories and then analyze the profiles of the best-rated users on the ones you're interested. A good tip to start is to offer low prices, in the beginning, to get more reviews quickly and thus climb through the ranks. Once you got a reputation and a track record, you'll be able to charge more.
How much you can make: $3,500/month
Time commitment per week: Min. 5 hours/week
Daniel Waldman started his freelance writing business over three years ago and has since earned an average of $3,500 per month, mostly through referrals and Fiverr - offering blogging, article writing, website copywriting and editing services.
34. Start a child care business
Starting a childcare business is a great way to build a steady income. You will have the opportunity to be your boss and set your hours even from home. You will have the satisfaction of building one-on-one relationships with children and watching them grow over the years.
A childcare business is an excellent idea. It is both a personal and economical investment for its owners. This is especially true if you are considering starting your non-profit organization or becoming licensed to provide child care. Running a childcare business allows you to help children develop while also making money. As with any business endeavor, running a childcare business has its ups and downs, but it can be very rewarding.
How long does it take to build: 60 days (?)
Twinkle Toes Nanny Agency has grown from a side hustle to over 20 locations in 5 states, offering an impressive franchise model with almost no overhead and a strong ROI, due to their online scheduling system, which creates a network of nannies and families ultimately providing quality in-home childcare for families.
35. Start an online retail store
Starting an online retail store is straightforward. All you need is a computer, a domain, and a web hosting service. Then, determine a niche for your online store, and conduct product research before listing products.
You can start your online store based on a drop shipping business model or list your self-made products in your online store.
How much you can make: $5,000 — $62,500,000/month
How long does it take to build: 51 days (?)
This case study follows the story of a successful online business that has made 7.2 million dollars in sales since 2012, with profits of around 30-45%, and the founders share insights on lessons learned and tools used.
36. Start a fitness SaaS
Have you ever wondered what software gyms use to keep track of everything? Over 32,000 health clubs in the U.S. need software and tools to run their business!
How much you can make: $7,000 — $60,000/month
How long does it take to build: 60 days (?)
FitSW founder Jacob Montoya bootstrapped his company to $25K monthly revenue, helping over 20,000 personal trainers manage their businesses through software that enables them to create workouts, track progress, plan meals, accept payments, and manage schedules, and has now expanded to include FindTrainGain, enabling people to join live online fitness classes from the comfort of their homes.
37. Start a business support services
Business support services offer continuous administrative, technical, and operational assistance to companies.
To begin this business, start by identifying core services such as virtual assistance, bookkeeping, web services, and equipment maintenance to provide clients.
Market your services by attending networking events, cold calling local businesses, using social media, and having a website that emphasizes reliability, expertise, and cost-effectiveness.
Focus on understanding every client's operations and needs to customize your services, maintain strong communication, and build long-term relationships.
Stay up-to-date on business practices, technologies, and methods to enable clients to improve efficiency and concentrate on core functions effectively.
How much you can make: $6,800 — $250,000/month
Hutch, founded by Fearless, is a 24-month program that helps minority and women entrepreneurs in government digital services; the program has had 9 graduates, 11 company founders in current two cohorts, and 20 companies within its portfolio.
38. Start a restaurant
If you love cooking and are passionate about entrepreneurship, starting a restaurant can be a fun and lucrative business.
To get started, choose a great location, and hire an excellent support team. You will need a chef to inspect the food and line cooks, waiters, and waitresses to serve the customers. No matter the restaurant type, you need great culinary and business skills to make your dream come true.
If you plan to open a restaurant in Trinidad and Tobago, gain insight from consumer preferences and focus on serving modern consumers what they need.
How much you can make: $48,333 — $61,650,000/month
How long does it take to build: 120 days (?)
One Life Meals is a Toronto-based healthy meal delivery service that made 14,500 meals per month and generated $130k in monthly sales in 2018 through their one-on-one consultation, lean protein and seasonal veggies-based meals, and their focus on the client experience.
39. Start a youtube channel
For anyone looking to start a successful YouTube channel, there are plenty of YouTube channel success stories that can be used as inspiration and encouragement. In addition, YouTube has an established monetization system and boasts incredible popularity, making it a potential platform for revenue generation.
In this article, we'll look at different approaches you can use to help promote your channel and grow your viewers. While there's no quick and easy way to success, you can take these tips to build your own YouTube Channel Success story. If you love content creation, you can capitalize on YouTube's popularity to earn extra income.
If you want to join the Youtube partner program to monetize your channel, you will need to reach a minimum of 1,000 subscribers and 4,000 watch hours in the previous 12 months.
How much you can make: $800 — $4,500,000/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
Learn how this entrepreneurial couple made $5-7k a month by helping others find legitimate work from home jobs and creative ways to make money online through their blog and YouTube channel, as well as offering two flagship products designed to help beginner freelancers and new bloggers accelerate growth.
40. Start a hotels business
If you are considering starting a hotel, then it is time to implement your plan. There are five key elements to understand if you want to succeed in this industry: location, size, budget, experience, and market demand.
Here are some tips to consider before forming a hotel:
- Name your business
- Decide on a marketing strategy
- Start by renting out a room in your home.
- Hire a business capital broker
- Try Airbnb
- Make a marketing plan
- Offer complementary services
How much you can make: $15,000/month
How long does it take to build: 325 days (?)
SKNMUSE, a premium beauty brand dedicated to elevating the beauty experience for Black Women, has a 40% customer retention rate, achieved a 169% increase in revenue, and made $30,000 in Q1 alone.
41. Start an email marketing business
Email marketing is a popular and effective way for businesses to reach their target audience and promote their products or services.
With the rise of the internet and the increasing use of email as a communication tool, starting an email marketing business can be a lucrative and rewarding venture.
An email marketing business involves creating and sending marketing emails to a list of subscribers. The emails can be newsletters, promotional messages, or other types of content designed to engage and convert the recipient into a customer. The business owner is responsible for building and maintaining the email list, creating the content, and sending the emails using specialized software.
To start an email marketing business, you must have a strong understanding of marketing principles and a good grasp of best practices. This includes creating compelling subject lines, segmenting your email list, and analyzing your campaigns’ results. You will also need to be proficient in email marketing software like Mailchimp or Constant Contact.
To run a successful email marketing business, you must clearly understand your target audience and what they are interested in. This will help you create relevant and engaging content that resonates with your subscribers and encourages them to take action. A solid call to action in your emails is crucial, whether it’s visiting your website, making a purchase, or signing up for a newsletter. Starting an email marketing business requires marketing skills, expertise, and a willingness to learn and improve continuously. The right strategies and tools can be a rewarding and successful way to reach your target audience and grow your business.
How much you can make: $1,500 — $8,333,333/month
How much does it cost to start: $1,000 (?)
How long does it take to build: 60 days (?)
Boundless Labs is an email marketing agency for eCommerce brands that has generated over $25 million in email attributable revenue for their clients since launching 18 months ago and currently makes around $90K per month, with plans to reach $100K per month by the end of January 2020 through client referrals, strong relationships, and hard work.
42. Start a healthy food processing business
With the growing preference for healthy and functional food, starting a healthy food processing plant can be rewarding.
The advancements in the food processing industry, innovation in processing technology, and continuous growth in demand for processed food are some excellent reasons to consider opening a healthy food processing business.
To start a healthy food processing plant, find out a market gap, and research the demand. Understand customers changing tastes and focus on offering the best throughout.
How much you can make: $52,944/month
How long does it take to build: 90 days (?)
Bluebird Provisions Bone Broth is North America's fastest-growing bone broth brand, doing 49,000 per month and growing 50% YoY, with 5000% growth in customer base since starting, thanks to an SEO-focused strategy, email marketing, referrals, and Amazon.
43. Start a crowdfunding platform
Raising money for your project can be difficult. Crowdfunding is one way to get funding through a large number of smaller investments. If you have some expertise in a particular area that may be useful to other people, there's no better time to take action. The crowdfunding revolution is happening right at your fingertips.
Crowdfunding has exploded over the past year, and you need to be a part of it. The Worldwide crowdfunding market share is expected to increase by $240B from 2021 to 2026. Crowdfunding is one of the quickest ways to get funding and build your brand.
How much you can make: $5,000 — $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.
44. Start a stock video business
Stock video is pre-filmed footage that can be purchased and used in various projects and films. Like stock photos, copyrighted stock videos cannot be used without permission and licensing from the rightful owner.
Businesses and filmmakers use licensed stock footage as they save money and hours, they would need to create original footage. Starting a stock video suitable for use in commercials and entertainment can be a great venture.
How much you can make: $10,000/month
How long does it take to build: 197 days (?)
VideoPlasty, an affordable and easy-to-use platform for buying pre-made stock animation elements and GIF images, has attracted over 600,000 visitors since its launch, with over $100k in revenue in 2020 alone, thanks to free organic traffic from YouTube tutorials and optimized SEO.
45. Start a cat cafe business
The only thing that can make a local cafe better is cats. Grab a cup of coffee and snuggle a cat at the same time. Recently, cat cafes have been popping up around the country. Some of these cafes are independent operators, while others work with local humane societies to get cats adopted.
Create a network of cat cafes where people can interact and play with cats. Once established, a cat cafe business can increase its revenue by hosting events. Events often draw lots of people in, and a business can charge more for each person because there's a special event taking place.
You might consider the following options for your cat cafe business:
- Adoptions: This type of cat cafe has cats that can be adopted. Some cat cafes specialize in rescued cats while others specialize in pedigree cats. These cat cafes can also have a combination of both.
- Permanent residents: This type of cat cafe has several resident cats on the premises. Similar to the adoption cafes, these can be cats that have been rescued or pedigree cats, or both.
- Full-service dining: This type of cat cafe has a full menu of food and beverages for its customers and sometimes for its cats as well.
- Themed cafe: This type of cat cafe is designed around a specific theme. Garden themes and whimsical themes are quite popular.
46. Start a restaurant
If you love cooking and are passionate about entrepreneurship, starting a restaurant can be a fun and lucrative business.
To get started, choose a great location, and hire an excellent support team. You will need a chef to inspect the food and line cooks, waiters, and waitresses to serve the customers. No matter the restaurant type, you need great culinary and business skills to make your dream come true.
If you plan to open a restaurant in Trinidad and Tobago, gain insight from consumer preferences and focus on serving modern consumers what they need.
How much you can make: $48,333 — $61,650,000/month
How long does it take to build: 120 days (?)
One Life Meals is a Toronto-based healthy meal delivery service that made 14,500 meals per month and generated $130k in monthly sales in 2018 through their one-on-one consultation, lean protein and seasonal veggies-based meals, and their focus on the client experience.
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- 4,818 founder case studies
- Access to our founder directory
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