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Ex-Starbucks CEO Howard Schultz admits he once shunned the Frappuccino

  • Former Starbucks CEO Howard Schultz was initially opposed to introducing the Frappuccino.
  • Schultz worried that customers wouldn't get the 'essence of Starbucks' from the drink.
  • Today, the Frappuccino is one of the most iconic beverages at Starbucks.

The Frappuccino has become one of Starbucks' most famous beverages. But early on, it had a notable critic: then-CEO Howard Schultz.

The beverage, which consists of chilled coffee and ice blended together, initially seemed to Schultz like a deviation from Starbucks' goal of offering high-quality coffee. But 28 years after its introduction, Schultz admitted in an interview with journalist Graham Bensinger that he misjudged the Frappuccino.

"I think Frappuccino is a great example of Howard Schultz being 100% incorrect, wrong and on the wrong side of the debate," Schultz said in the interview. Schultz ended his latest stint as the coffee chain's top executive after stepping down earlier this year.

The Frappuccino grew out of an idea in Southern California and an acquisition that Starbucks made

The Frappuccino's origins go back to 1993, according to a 2015 post on Starbucks' website. That year, an employee at a Southern California Starbucks named Dina Campion convinced higher-ups to send a blender her way so that the store could start making blended coffee drinks.

"We noticed there were some smaller coffee shops that did some sort of blended coffee beverage," Campion said according to the 2015 post. The drink expanded to additional stores in Southern California over the following year.

In 1994, Starbucks acquired Coffee Connection, a chain of coffee shops owned by George Howell, a Starbucks skeptic. As part of the deal, Starbucks acquired the rights to the "Frappuccino," which Coffee Connection served as a cold coffee beverage made in a soft-serve ice cream machine, according to Starbucks.

At this point, Starbucks had all the pieces it needed to roll out the Frappuccino nationally. Proponents of the beverage said it was a great way to get younger consumers in the door at Starbucks, as well as customers who wanted something other than plain-old coffee.

Schultz worried that the Frappuccino would ruin 'the essence of Starbucks' for new customers

But Schultz wasn't sold on it.

"We started tasting it, and I, as a purist, said, 'Why do we want to do this? We don't want to be a Frappuccino company, we're a coffee company,'" Schultz told Bensinger in the interview. "I also was afraid that people would be introduced to Frappuccino first and never quite get the essence of Starbucks."

Despite Schultz's reluctance, Starbucks started serving Frappuccinos across the US and Canada in 1995. That summer, Frappuccinos made up 11% of Starbucks' sales.

In 1996, Starbucks introduced a bottled, ready-to-drink Frappuccino, according to industry website Beverage Online. Bottled Fraps alone have since grown into a billion-dollar business, Schultz told Bensinger.

Today, cold drinks are about 75% of Starbucks' sales. Gen Z customers in particular are opting for chilled options over traditional hot coffee. The drinks also now come in flavors from mocha cookie crumble to coffee-free matcha creme.

"It turned out that Frappuccino became a multibillion-dollar business for Starbucks," Schultz told Bensinger.

"So, I was wrong, and it kinda taught me a great lesson: Truly, the customer was always right," he added.

new business ideas in the world

Watch: Starbucks' Pumpkin Spice Latte hits menus today. Limited-time offers are just one way the chain gets you to spend more money.

new business ideas in the world

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Dry states taking Mississippi River water isn’t a new idea. But some mayors want to kill it

FILE - Dredge Jadwin, a U.S. Army Corps of Engineers dredging vessel, powers south down the Mississippi River, Oct. 19, 2022, past Commerce, Mo. Diverting Mississippi River water to states struggling with water scarcity isn’t a new idea. But mayors along the river may soon be voting to support a compact that could block such a diversion. (AP Photo/Jeff Roberson, File)

FILE - People walk to Tower Rock, an attraction normally surrounded by the Mississippi River and only accessible by boat, Oct. 19, 2022, in Perry County, Mo. Diverting Mississippi River water to states struggling with water scarcity isn’t a new idea. But mayors along the river may soon be voting to support a compact that could block such a diversion. (AP Photo/Jeff Roberson, File)

FILE - Cracked earth is visible in an area once under the water of Lake Mead at the Lake Mead National Recreation Area, Jan. 27, 2023, near Boulder City, Nev. Community leaders along the Mississippi River worried that dry southwestern states will someday try to take the river’s water may soon take their first step toward blocking such a diversion. (AP Photo/John Locher, File)

FILE - The flooded Mississippi River surrounds the homes on Abel Island near Guttenberg, Iowa, April 25, 2023. Diverting Mississippi River water to states struggling with water scarcity isn’t a new idea. But mayors along the river may soon be voting to support a compact that could block such a diversion. (Stephen Gassman/Telegraph Herald via AP, File)

FILE - James Isaacks walks where the normally wide Mississippi River would flow, Oct. 20, 2022, near Portageville, Mo. Diverting Mississippi River water to states struggling with water scarcity isn’t a new idea. But mayors along the river may soon be voting to support a compact that could block such a diversion. (AP Photo/Jeff Roberson)

FILE - A mother and child stop along the shoreline of Lake Mead at the Lake Mead National Recreation Area, May 10, 2022, near Boulder City, Nev. Community leaders along the Mississippi River worried that dry southwestern states will someday try to take the river’s water may soon take their first step toward blocking such a diversion. (AP Photo/John Locher, File)

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ST. LOUIS (AP) — Community leaders along the Mississippi River worried that dry southwestern states will someday try to take the river’s water may soon take their first step toward blocking such a diversion.

Mayors from cities along the river are expected to vote on whether to support a new compact among the river’s 10 states at this week’s annual meeting of the Mississippi River Cities and Towns Initiative, according to its executive director Colin Wellenkamp. Supporters of a compact hope it will strengthen the region’s collective power around shared goals like stopping water from leaving the corridor.

“It is the most important working river on earth,” said Wellenkamp. “It’s a matter of national security that the Mississippi River corridor remain intact, remain sustainable and remain ecologically and hydrologically healthy.”

The Southwest has long struggled to find enough water for its growing population in a region prone to drought that climate change is making worse. Transporting water from the Mississippi River basin, which drains roughly 40% of the continental United States, has always been a long shot that many say isn’t practical or remotely cost-effective. But Wellenkamp worries that conversation around the idea hasn’t stopped.

FILE - Utah quarterback Cameron Rising (7) warms up before the team's Rose Bowl NCAA college football game against Penn State Monday, Jan. 2, 2023, in Pasadena, Calif. Utah opens their season at home against Florida on Aug. 31. (AP Photo/Marcio Jose Sanchez, File)

A formal compact is still far off. The mayors’ support would be just the first step in a lengthy, politically fraught process that would require buy-in from all 10 states along the river and federal approval, experts said. Those states range from left-leaning states like Minnesota, where the river begins, to thoroughly conservative states like Louisiana, where it empties into the Gulf of Mexico.

The others are Wisconsin, Iowa, Illinois, Missouri, Kentucky, Tennessee, Arkansas and Mississippi.

Proponents say a compact would protect the river’s water levels and ecology, make it easier to coordinate when floods or other disaster strikes and provide a way to resolve conflict among the river states. A favorable vote would ask the Mississippi River Cities and Towns Initiative to pursue a new river compact, according to a draft copy of the motion.

“This is not going to be easy and it’s not going to happen overnight,” said Wellenkamp. “But, you know, every journey begins with a first step and a cash advance, I like to say.”

Fear of water export has ignited political action before. Plans by a Canadian company in the 1990s to fill up tankers with Great Lakes water and ship it to Asia “was probably the tipping point” for establishing the Great Lakes Compact that went into effect in 2008. It strengthened cooperation among Great Lakes states that work with two Canadian providences to manage water from the lakes effectively, monitor its use and prevent it from leaving the basin.

“The Great Lakes are better protected today than they ever have been before,” said David Strifling, director of Marquette Law School’s Water Law and Policy Initiative.

But Strifling said it was difficult to get an agreement together decades ago and it would be even harder to do so now “just due to the increased level of political polarization that exists.”

Wellenkamp said a Mississippi River compact, besides blocking diversions, would ensure that nearby water users also act in a sustainable way.

The river’s water levels can be precarious . Last fall, they fell so low that they disrupted ship and barge traffic that moved soybeans, corn and other goods downriver for export. Much of the river is once again facing drought.

People realize that the river “is not some stable resource,” said Melissa Scanlan, director for the Center for Water Policy at the University of Wisconsin-Milwaukee.

“People are aware of how those low levels on the Mississippi River affect commerce and the communities,” she said.

There are protections against some water diversions now. If one of the five states on the upper portion of the river wants to move large amounts of water out of the basin, it must notify and consult with the other four states first. The Upper Mississippi River Basin Association has existed for decades to foster cooperative management of the river. Currently, there’s an effort to quantify water use among the upper basin states and understand how that use affects the river, officials said.

John Fleck, a water expert at the Utton Center at the University of New Mexico School of Law, said he is rooting for a Mississippi River compact so that what he calls the unworkable idea of a water pipeline to the west will die.

“This is a waste of our time because (diversion) is magical thinking and it will never happen,” he said.

Jennifer Gimbel, senior water policy scholar at Colorado State University, said the obstacles to a pipeline are high. It would need approval from Congress and from legislatures in each state it passes through, payments for landowners and condemnation procedures for those who didn’t want the pipeline through their properties, and expensive permitting. Then there is the engineering nightmare and huge costs of moving huge amounts of water west.

“It becomes pretty complicated real fast,” Gimbel said.

The talk of diverting water to the Southwest will hopefully “light a fire under some states” to approve a Mississippi River compact, said Olivia Dorothy, director of river restoration with the conservation group American Rivers.

Diverting water can harm the river’s ecology, depriving species of the water they rely on. It could also slow the movement of sediment that’s vital to the health of Louisiana and the Gulf of Mexico, among many other problems, she said.

Dorothy said a compact would be a good way to say “this is our water.”

“If you want the Mississippi River water, you can move here,” she said.

The Associated Press receives support from the Walton Family Foundation for coverage of water and environmental policy. The AP is solely responsible for all content. For all of AP’s environmental coverage, visit https://apnews.com/hub/climate-and-environment

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Guest Essay

The Story of Our Universe May Be Starting to Unravel

new business ideas in the world

By Adam Frank and Marcelo Gleiser

Dr. Frank is an astrophysicist at the University of Rochester. Dr. Gleiser is a theoretical physicist at Dartmouth College.

Not long after the James Webb Space Telescope began beaming back from outer space its stunning images of planets and nebulae last year, astronomers, though dazzled, had to admit that something was amiss. Eight months later, based in part on what the telescope has revealed, it’s beginning to look as if we may need to rethink key features of the origin and development of the universe.

Launched at the end of 2021 as a joint project of NASA, the European Space Agency and the Canadian Space Agency, the Webb, a tool with unmatched powers of observation, is on an exciting mission to look back in time, in effect, at the first stars and galaxies. But one of the Webb’s first major findings was exciting in an uncomfortable sense: It discovered the existence of fully formed galaxies far earlier than should have been possible according to the so-called standard model of cosmology.

According to the standard model, which is the basis for essentially all research in the field, there is a fixed and precise sequence of events that followed the Big Bang: First, the force of gravity pulled together denser regions in the cooling cosmic gas, which grew to become stars and black holes; then, the force of gravity pulled together the stars into galaxies.

The Webb data, though, revealed that some very large galaxies formed really fast, in too short a time, at least according to the standard model. This was no minor discrepancy. The finding is akin to parents and their children appearing in a story when the grandparents are still children themselves.

It was not, unfortunately, an isolated incident. There have been other recent occasions in which the evidence behind science’s basic understanding of the universe has been found to be alarmingly inconsistent.

Take the matter of how fast the universe is expanding. This is a foundational fact in cosmological science — the so-called Hubble constant — yet scientists have not been able to settle on a number. There are two main ways to calculate it: One involves measurements of the early universe (such as the sort that the Webb is providing); the other involves measurements of nearby stars in the modern universe. Despite decades of effort, these two methods continue to yield different answers.

At first, scientists expected this discrepancy to resolve as the data got better. But the problem has stubbornly persisted even as the data have gotten far more precise. And now new data from the Webb have exacerbated the problem. This trend suggests a flaw in the model, not in the data.

Two serious issues with the standard model of cosmology would be concerning enough. But the model has already been patched up numerous times over the past half century to better conform with the best available data — alterations that may well be necessary and correct, but which, in light of the problems we are now confronting, could strike a skeptic as a bit too convenient.

Physicists and astronomers are starting to get the sense that something may be really wrong. It’s not just that some of us believe we might have to rethink the standard model of cosmology; we might also have to change the way we think about some of the most basic features of our universe — a conceptual revolution that would have implications far beyond the world of science.

A potent mix of hard-won data and rarefied abstract mathematical physics, the standard model of cosmology is rightfully understood as a triumph of human ingenuity. It has its origins in Edwin Hubble’s discovery in the 1920s that the universe was expanding — the first piece of evidence for the Big Bang. Then, in 1964, radio astronomers discovered the so-called Cosmic Microwave Background , the “fossil” radiation reaching us from shortly after the universe began expanding. That finding told us that the early universe was a hot, dense soup of subatomic particles that has been continually cooling and becoming less dense ever since.

Over the past 60 years, cosmology has become ever more precise in its ability to account for the best available data about the universe. But along the way, to gain such a high degree of precision, astrophysicists have had to postulate the existence of components of the universe for which we have no direct evidence. The standard model today holds that “normal” matter — the stuff that makes up people and planets and everything else we can see — constitutes only about 4 percent of the universe. The rest is invisible stuff called dark matter and dark energy (roughly 27 percent and 68 percent).

Cosmic inflation is an example of yet another exotic adjustment made to the standard model. Devised in 1981 to resolve paradoxes arising from an older version of the Big Bang, the theory holds that the early universe expanded exponentially fast for a fraction of a second after the Big Bang. This theory solves certain problems but creates others. Notably, according to most versions of the theory, rather than there being one universe, ours is just one universe in a multiverse — an infinite number of universes, the others of which may be forever unobservable to us not just in practice but also in principle.

There is nothing inherently fishy about these features of the standard model. Scientists often discover good indirect evidence for things that we cannot see, such as the hyperdense singularities inside a black hole. But in the wake of the Webb’s confounding data about galaxy formation, and the worsening problem with the Hubble constant, you can’t be blamed for starting to wonder if the model is out of joint.

A familiar narrative about how science works is often trotted out at this point to assuage anxieties. It goes like this: Researchers think they have a successful theory, but new data show it is flawed. Courageously rolling up their sleeves, the scientists go back to their blackboards and come up with new ideas that allow them to improve their theory by better matching the evidence.

It’s a story of both humility and triumph, and we scientists love to tell it. And it may be what happens in this case, too. Perhaps the solution to the problems the Webb is forcing us to confront will require only that cosmologists come up with a new “dark” something or other that will allow our picture of the universe to continue to match the best cosmological data.

There is, however, another possibility. We may be at a point where we need a radical departure from the standard model, one that may even require us to change how we think of the elemental components of the universe, possibly even the nature of space and time.

Cosmology is not like other sciences. It’s not like studying mice in a maze or watching chemicals boil in a beaker in a lab. The universe is everything there is; there’s only one and we can’t look at it from the outside. You can’t put it in a box on a table and run controlled experiments on it. Because it is all-encompassing, cosmology forces scientists to tackle questions about the very environment in which science operates: the nature of time, the nature of space, the nature of lawlike regularity, the role of the observers doing the observations.

These rarefied issues don’t come up in most “regular” science (though one encounters similarly shadowy issues in the science of consciousness and in quantum physics). Working so close to the boundary between science and philosophy, cosmologists are continually haunted by the ghosts of basic assumptions hiding unseen in the tools we use — such as the assumption that scientific laws don’t change over time.

But that’s precisely the sort of assumption we might have to start questioning in order to figure out what’s wrong with the standard model. One possibility, raised by the physicist Lee Smolin and the philosopher Roberto Mangabeira Unger, is that the laws of physics can evolve and change over time. Different laws might even compete for effectiveness. An even more radical possibility, discussed by the physicist John Wheeler, is that every act of observation influences the future and even the past history of the universe. (Dr. Wheeler, working to understand the paradoxes of quantum mechanics, conceived of a “ participatory universe ” in which every act of observation was in some sense a new act of creation.)

It is not obvious, to say the least, how such revolutionary reconsiderations of our science might help us better understand the cosmological data that is flummoxing us. (Part of the difficulty is that the data themselves are shaped by the theoretical assumptions of those who collect them.) It would necessarily be a leap of faith to step back and rethink such fundamentals about our science.

But a revolution may end up being the best path to progress. That has certainly been the case in the past with scientific breakthroughs like Copernicus’s heliocentrism, Darwin’s theory of evolution and Einstein’s relativity. All three of those theories also ended up having enormous cultural influence — threatening our sense of our special place in the cosmos, challenging our intuition that we were fundamentally different than other animals, upending our faith in common sense ideas about the flow of time. Any scientific revolution of the sort we’re imagining would presumably have comparable reverberations in our understanding of ourselves.

The philosopher Robert Crease has written that philosophy is what’s required when doing more science may not answer a scientific question. It’s not clear yet if that’s what’s needed to overcome the crisis in cosmology. But if more tweaks and adjustments don’t do the trick, we may need not just a new story of the universe but also a new way to tell stories about it.

Adam Frank ( @AdamFrank4 ) is a professor of astrophysics at the University of Rochester and the author of the forthcoming book “The Little Book of Aliens.” Marcelo Gleiser ( @MGleiser ) is a professor of physics and astronomy at Dartmouth College and the author of “The Dawn of a Mindful Universe: A Manifesto for Humanity’s Future.”

The Times is committed to publishing a diversity of letters to the editor. We’d like to hear what you think about this or any of our articles. Here are some tips . And here’s our email: [email protected] .

Follow The New York Times Opinion section on Facebook , Twitter (@NYTopinion) and Instagram .

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Resources for Your Growing Business

10 unique and successful business ideas from around the world.

10 Unique and Successful Business Ideas from around the World

Unique business ideas often find success because they serve a niche market. Some of the business ideas in the list below might seem funny or even crazy. But, they make money because they’ve managed to tap into a group of customers that needed something other companies weren’t providing.

In this article, we’ll cover:

  • Stress Biosensors
  • Lice Removal
  • Biodegradable Packaging
  • Renting Cows
  • The Airbnb of Parking
  • Bitcoin Tech
  • Vegan Meats and Dairy
  • Second-Hand Children’s Clothing
  • Speed Language Learning

1. Cat Cafes

Cat cafes are cafes where customers can order beverages and also spend time with the resident cats. Cat cafes have been wildly successful in Japan and Taiwan for many years. The first cat cafe opened in Montreal is 2014 and since then they’ve started to spread through North America.

Cat cafes are part of the overall trend of activity bars—for example, bars that combine bowling or gaming. And this type of venture is a perfect match for crowdfunding techniques through sites like Kickstarter. There’s also the option to create spinoffs, like cafes that serve wine or dog cafes.

new business ideas in the world

2. Stress Biosensors

An Irish company turned to Kickstarter to fund a biosensor that tracks your stress and helps you relax through game play. It’s supposed to help its wearer understand how to manage their stress. The company’s gamble paid off as 555 backers contributed a total of $103,916 to fully fund the project.

This is part of a trend of devices that are intuitive to use and that read emotions. Another example is the Mico headset from Japan that tracks its wearer’s brainwaves and chooses appropriate music for their mood.

3. Lice Removal

Head lice is every parent’s nightmare. For moms and dads who don’t want to do their own removal, there are now businesses that will do it for them. Lice removal businesses typically offer in-store or in-home services and also cater to camps, daycares and schools.

The Lice Place from Texas is famous in this space and has four offices plus two franchises. Another example is Lice Squad . Lice Squad has multiple businesses in provinces across Canada as well as franchise opportunities.

4. Biodegradable Packaging

Here’s a creative and green business opportunity: global demand for bioplastic packaging is expected to reach 8,84,000 tons by 2020, according to the Economic Times . Biodegradable bags make up about 10 to 15 percent of the world plastics market and should increase to 25 to 30 percent by 2020.

To meet demand, EnviGreen Biotech in India is making plastic-like bags that are actually composed of starch and vegetable derivatives. They dissolve in warm water and are recyclable, organic and even edible by animals.

5. Renting Cows

We have Switzerland to thank for this funny small business idea. Farmers there have begun to rent their cows to tourists and urbanites. The farmers take care of the cows and their temporary owners pay a reduced rate for the cheese produced from the cow’s milk. They may also be required to do some work on the farm or they can stay overnight for the true alpine farm experience.

There’s high demand and farmers are now considering adding more cattle and letting people rent just a half or quarter of a cow.

6. The Airbnb of Parking

Parking is a huge issue in rapidly growing cities across the world. One statistic estimates that 30 percent of pollution and road congestion is created by cars searching for parking. So any business idea that addresses this parking problem, not to mention any other issues created by increased urbanization, is sure to find success.

Greece’s Parkgene is one such company. It started as a parking booking service (there are plenty of apps that do this worldwide). It has now shifted to a peer-to-peer model, meaning people can rent out their parking spaces directly to each other.

This taps into another growing segment: the sharing economy. Of course, the most famous example is Airbnb , which lets users rent out rooms, apartments or houses to each other.

7. Bitcoin Tech

An Argentinian entrepreneur developed payment technology that makes it easier for South American companies to accept bitcoins as payment. The company is called BitPagos and it attracted $600,000 in investment, according to Business Insider.

Bitcoin is one of the most popular cryptocurrencies, also known as digital currencies. It can be used as payment and isn’t tied to any one country and only exists digitally, not in paper form.

Bitcoin and other cryptocurrencies were worth $107 billion in June of 2017, six times their worth at the beginning of that year, according to Fortune magazine. The industry is set to enter a trillion-dollar valuation.

Here are some ideas to enter this space:

  • Making payments
  • Payments through social media platforms
  • Bitcoin ATMs
  • Retirement investing

8. Vegan Meats and Dairy

South Africa’s Fry’s is famous for its vegan shrimp, sausage rolls, burgers, schnitzel and much more. Its products are now sold in 8,000 supermarkets in 30 countries and is just about to enter the U.S. market .

Though Fry’s has been in business almost 30 years, the market is hotter than ever right now for vegan and vegetarian foods. Sales of plant-based food reached over $3.7 billion last year in the U.S., according to Nielsen . Vegan meat is the hottest food item, with sales increasing 23 percent.

That said, there’s plenty of competition. Beyond Meat is the leading seller of vegan meats, with sales increasing 70 percent in 2017. Other options include starting a business focused on plant-based dairy, eggs and complete pre-packaged meals. Plant-based milk is a fiercely competitive market but creamer, yogurt, cheese and ice cream are quickly growing categories.

9. Second-Hand Children’s Clothing

Changeroo is an online retailer that sells used, high-quality kids clothing. This Canadian company offers a 75 percent discount on like-new clothing. Changeroo is a small business run solely by its owner who does absolutely everything from customer service to buying to website management. Social media visibility has been key for her business.

Second-hand children’s clothing is a great opportunity because kids quickly outgrow their clothes and buying new ones can get expensive. Plus, getting brand names for less instead of buying cheap “fast fashion” is appealing.

Also helpful: moms and dads can return their used purchases to Changeroo for credit to buy even more clothes.

10. Speed Language Learning

An Irish man has figured out a system for learning a new language in just three months. Entrepreneur Benny Lewis now speaks 11 languages and has a series of successful books plus an online course and other resources. He also has a blog and a YouTube channel and has done a TED talk.

You could start your own language-learning business by making a website with classes that can be accessed whenever a student wants, says Entrepreneur . Students could pay a monthly fee to log in at a any time and you could also sell advertising space and courses or books. Mobile learning is also hot so you could optimize for mobile or think about creating an app.

Plus, you could sell to individuals or corporations. Companies in particular need speed language training to get their employees ready to do international business.

new business ideas in the world

People also ask:

How Do You Come up with New Business Ideas?

What online businesses are the most successful.

To come up with a new business idea, think of what will be trending in the future and what technologies people will want, according to Entrepreneur . For example, voice search, coworking, standing desks, alternative learning, blockchain and membership incentives are just some of the upcoming trends identified by Forbes .

Successful businesses often solve problems, so think about what frustrates you and how you could solve it.

Or find an underserved niche market and give them what they want. Do your market research—find your customers and ask them questions, either in person or through a survey.

It’s also a good idea to innovate in markets that haven’t seen new developments in a while.

You can also provide a product or service that’s cheaper than what’s already out there. For example, Toronto-based Mejuri offers fine jewelry direct to consumers at much lower prices. Now Mejuri has waitlists of 40,000 people, a $5 million funding round and 5x year-over-year growth in revenue, according to Business Insider .

Here are some examples of successful online businesses:

  • Subscription boxes . From food ( HelloFresh ) to shaving ( Dollar Shave Club ) to makeup ( Ipsy ) to clothes ( Stitch Fix ), subscription boxes are hot right now .
  • SEO optimization . It stands for search engine optimization. SEO gurus help company websites appear high in search rankings, organically. SEO marketing is highly coveted right now and experts are in demand.
  • Webinars . Webinars are live tutorials with a guru who may or may not sell you a course or other product at the end. Jason Fladlien has made over $100 million in sales thanks to his webinars. Use GoToWebinar and use your existing expertise to make you money.
  • Business coaching . This requires existing business acumen but there’s a massive market out there and with the right approach, business coaching can be very lucrative. Coaching in general is hot right now and there are many different types , if you’re not a business guru. A report by IBISWorld says coaching is a $1 billion industry in the U.S. and expected to grow year-by-year at 3.6 percent.
  • Ad management . Online advertising continues to explode and businesses need help navigating and optimizing all the different channels. Online ads will be a $129.23 billion dollar industry by 2021 according to eMarketer , so you may want to think about starting your own ad management small business.


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26 Great Business Ideas for Entrepreneurs

Table of contents.

Tejas Vemparala headshot

  • If you’re not sure what business to start, this list of 26 great business ideas for entrepreneurs can help provide some inspiration.
  • Choose a business idea that you are knowledgeable and passionate about, and develop a detailed business plan.
  • Before starting a business, determine if there is a demand for the product or service you want to provide.
  • This article is for anyone trying to decide what business to start and looking for great business ideas for entrepreneurs.

If you are thinking about starting a business , you should be considering whether your idea fills a need in the way people live their lives and approach their work. If you can identify an unmet need and a target market, then you might just have a business idea with legs. But how can you come up with a good small business idea in the first place? This list of business ideas includes 26 great types of business to help you find success.

Starting a business is a lot of work, but we’re here to help! Check out our useful resources for everything you need to successfully build your business from the ground up.

  • How To Start A Business: Step By Step
  • 11 Things To Do Before Starting A Business
  • Tax and Business Forms You’ll Need To Start A Business
  • Startup Costs: How Much Cash Will You Need?
  • 20 Mistakes To Avoid When Starting A Business

26 great small business ideas

This list of 26 great business ideas will help you get started on your entrepreneurial journey. Note that many of the ideas below only require you to have a credit card processing partner to get started, so you can keep upfront expenses relatively low.

Read on for some inspiration into the many types of businesses that could launch you to success.

1. Online reselling

Online reselling

If you’re interested in clothing and sales, you might consider starting an online reseller business . Although it takes time, dedication and an eye for fashion, you can start your business as a side hustle and turn it into a full-time resale business. You could start by using online store websites like Poshmark and Mercari to sell your unwanted clothing and items, then expand to your own resale website.

Consider shopping estate sales and flea markets for hidden finds at a low cost and then listing them for a profit online. You may be able to collect a substantial inventory of items that are in good shape for very little overhead if you’re diligent enough and search the right places.

2. Pet sitting

pet sitting

About 70% of U.S. families have a pet . When these families go away for extended periods, your pet-sitting small business can give them peace of mind. As a pet sitter, you’ll watch over your clients’ dogs, cats or other pets at their house. As part of the job, you’ll need to feed them, give them water, play with them, and (with dogs) walk them as needed. To help keep clients satisfied, you’ll need to regularly update them on how their pets are doing.

If you have other sources of income that require nothing more than an internet connection and a laptop, pet sitting may be an especially apt small business idea. Almost all pet owners will be glad to let you work on your laptop while you spend time at their home with their pets, meaning that you can run two income streams simultaneously.

3. T-shirt printing

t-shirt printing

If you have a sense of fashion (or humor), you might enjoy launching a T-shirt printing business. You can also license someone else’s designs and screenprint them onto a blank tee. Either way, if you have space for a T-shirt printing setup, you can easily acquire the necessary tools to get started.

T-shirt printing can be a great e-commerce business. You can allow customers to place online orders and sell T-shirts in bulk. This way, you can sell to customers around the country and even the world.

4. Cleaning service

cleaning service

If you like to clean, you can easily turn that into a business. With a few staff members, a host of cleaning supplies and transportation, you can offer cleaning services to homeowners, apartment complexes and commercial properties. Most cleaning services charge $25 to $50 per hour. Cleaning services are straightforward businesses that require relatively little overhead; you simply need planning, dedication and marketing to attract customers.

If you’re looking to differentiate yourself from other cleaning services, consider adding premium options like floor waxing or exterior power-washing for an additional fee. These services could be the deciding factor between your new cleaning service and seasoned companies that maintain too large a client list to provide that level of cleaning.

5. Online teaching

online teaching

The demand for online education has opened up possibilities for entrepreneurs. Since this is an online venture, you can choose any subject you know about and teach a course regardless of location. If you don’t have advanced knowledge in any particular subject, consider teaching English as a foreign language online to students overseas.

6. Online bookkeeping

Online bookkeeping

As with education, technology allows many bookkeeping services to be performed online. If you are an accountant or bookkeeper who wants the freedom and autonomy of running your own business, take advantage of modern technology to start your own online bookkeeping service.

7. Consulting


If you are knowledgeable and passionate about a specific topic (like business, social media, marketing, human resources, leadership or communication), consulting can be a lucrative option. You can start a consulting business on your own, then grow your business and hire other consultants over time.

8. Medical courier service

Medical courier

If you have a reliable vehicle and good time management skills, consider creating your own courier service – more specifically, a medical courier service. As a driver, you would be responsible for transporting medical items like lab specimens, prescription drugs and equipment. You could start your courier business on your own or hire other drivers to work for you.

The healthcare industry is expanding , which is a good sign for medical courier service job stability. There’s a wide range of client groups your business can serve, including hospitals, nursing homes, labs and private practices.

9. App development

app development

If you are knowledgeable and experienced in technology, you may want to consider a career in app development. Smartphones are an everyday accessory for many Americans that has increased the demand for mobile apps. Similarly, virtual reality software has become popular in recent years, so there is also a demand for VR app development. 

10. Transcription service

transcription service

If you have a good ear and can type quickly, a transcription service would allow you to work from home with a flexible schedule. Medical transcription services are especially needed as voice recognition technology proliferates for healthcare provider dictation. 

You can accept as few or as many transcription jobs as you’d like. This flexibility can be especially beneficial if you’re not looking to start all at once or if you have a day job you would like to keep for now. To boost your business prospects and justify charging more, consider becoming a certified transcriptionist and delving into a few specialties.

Medical transcriptionists typically charge 6 to 14 cents per line of transcription, which adds up quickly. The typical turnaround time for transcription work is 24 hours, so it’s important to stay on top of the jobs you accept. However, the ability to accept only a few requests at first means you can scale up as you are ready. Best of all, there is very little startup cost and overhead. You only need a computer, the appropriate software and a secure messaging service.

While not required, a medical transcription license can increase your business’s competitive advantage while expanding your customer base to include larger companies. Some service providers prefer that their transcriptionists have training from a certified program.

11. Professional organizing

professional organizing

Looking for a small business idea that can really spark joy? Professional organizers, like Marie Kondo, help people declutter and minimize for a living. In an age of materialism, many people are desperate to downsize and take control over their possessions. Minimalism is becoming extremely popular, but people often find it hard to part with things they’ve owned for a long time. Part of being a professional organizer is helping clients develop a system for downsizing.

If you’re a highly organized person who enjoys making spaces functional and comfortable, you might be good at coaching others to do the same. People will pay you to help them devise a method of minimizing their possessions and maintaining an organized space. To promote your business, ask if your clients will let you take before-and-after photos of the areas of their homes you’ve organized. If so, you can use those to create a portfolio that you can put on social media to attract more clients.

12. Freelance copywriting or content writing

freelance copywriting

If you’re a natural wordsmith with a bit of marketing knowledge, you can establish yourself as a freelance copywriter or content writer. Whether you write blogs, web content or press releases, plenty of companies will pay for your services. Increase your value by using SEO knowledge to help clients craft a strategy around specific keywords that their target audience is already using in their online searches.

Freelance copywriting is a great business to run because as long as you have an internet connection, you can work. It’s a business that you can operate from the comfort of your own home or even from the road if you travel. If you establish a large enough network and gain referrals from satisfied clients, you could even make freelance writing your full-time job .

13. Home care service

home care

A background in care and hospitality can go a long way to support housebound seniors who require in-home care. It’s also a service for which demand is only going to grow. According to the Population Reference Bureau, between 2020 and 2060, the 85-and-over population is projected to triple from 6.7 million to 19 million. The global number of centenarians (those over age 100) has already reached nearly 600,000. Many will need care and assistance, often in their own homes.

Luckily, you don’t need a background in healthcare to help seniors and grow a successful business at the same time, although those skills will be in demand as well. Many seniors need help with all kinds of tasks, like errands or repairs around the house. With some experience, you could consider growing your business to help seniors transition from their homes to assisted living facilities, offering services such as packing, transporting, setting up, or storing their furniture and possessions.

Senior home care is a rapidly growing industry. As a senior care provider, you can tap into this market while offering seniors premium care and assisting them with everyday tasks.

14. Translation service

translation service

According to research from IBISWorld, the translation services industry saw a decline in 2020, as did many industries; however, IBISWorld forecasts a “major uptick” for the industry over the next five years. That projected growth isn’t surprising, as the internet has opened up entrepreneurs in other countries to English-speaking markets, and vice versa.

This trend has created an opening for multilingual speakers to offer specific services, such as document translation and the translation of website information into languages for use in other markets. If you’re fluent in multiple languages, you could be successful in carving out a niche in the translation services industry.

15. Digital marketing

digital marketing

The importance of the internet grows with every passing day, but it also becomes harder for businesses to cut through the online clutter and properly market themselves. Digital marketing services are always in demand. Yet, many small and midsize companies would rather outsource them than establish a costly in-house team. If you have chops in SEO, content marketing, pay-per-click advertising, web development or social media management, you could seize a business opportunity that allows you the freedom to work from home.

Digital marketing is an important part of any brand, so you’ll need to respond to developments in your clients’ marketing strategies. Social media management entails watching for comments and messages around the clock, not just scheduling posts with a set-it-and-forget-it mindset. If you enjoy strategizing and implementing marketing plans meticulously, digital marketing could be the right business for you. You may also consider becoming an affiliate marketer, which is another form of digital marketing.

16. Owning a food truck

food truck

Food trucks come in all shapes and sizes, serving up a wide range of snacks and cuisines. Take your favorite style of food on the road, and sell your culinary passions directly to hungry customers. Sure, you’ll be working, but you’ll be in a space you’re passionate about, with a chance to connect to people who have similar interests. 

Starting a food truck is a great small business idea for entrepreneurs with a taste for the culinary. The overhead and upkeep for a truck is significantly less than for a restaurant, and you have the added benefit of mobility. [Check out our recommendations for POS systems for your food truck.]

Starting a food truck business can be profitable. However, there are some startup costs to consider, such as purchasing a food truck and modifying it to meet local regulations. If you’re interested in serving up smiles with a food truck, get more information in our guide to starting a food truck business .

17. Lawn care service

lawn service

If you grew up with a lawn, chances are your parents made you maintain it. For many, lawn care is bothersome, but for some it offers a sense of peace and serenity. Working outdoors with your hands to tame and beautify the natural landscape can be a rewarding experience, but since so many people find the work tedious, it can also be profitable.

Lawn care services require little more than some basic equipment, a trailer and perhaps some staff, depending on how many clients you have and how big the jobs are. You can grow a small lawn care service into a full landscaping company by offering premium services and establishing a reputation as a brand that does a thorough job with a smile. If you like working outdoors and creating elegant landscapes, this could be the business for you.

Some states require landscapers, especially those using pesticides, to have a license. Check your state’s requirements to help you determine if you need to obtain a license for your business’s services.

18. Rideshare driving

rideshare driving

If starting your own business seems daunting or too much of a risk, you can always use your car to become a rideshare driver. The overhead and responsibility of running the company fall on the rideshare service, giving you the freedom to work as much or as little as you want. Rideshare applications such as Uber and Lyft allow people to start side hustles that pay well and require little more than a willingness to drive people to their destinations and make occasional friendly conversation.

Rideshare drivers have the independence of a small business owner without the heavy workload required to manage behind-the-scenes logistics. If any of the other business ideas seem to require too much effort or upfront capital, ridesharing might be the way to dip your toe into the world of entrepreneurship.

19. Real estate

real estate

For many people, navigating the housing market is overwhelming. As a real estate agent, you can help people find their dream home at a price that fits their budget. In many states, you only need to complete a few months of classes and pass an exam to qualify as a real estate agent. Keep in mind that even with a certification, you’ll need strong social skills, so if you’re not a people person, this might not be the route for you. [Read related article: How to Become a Real Estate Agent ]

20. Graphic design

graphic design

Corporations, small businesses and sole proprietors all need eye-catching promotional materials, but not everybody has an eye for what looks good. If you have an artistic streak and know how to organize content into a visually pleasing format, start a graphic design business to provide flyers, digital ads, posters and other engaging visual materials. Graphic design requires few physical tools beyond a laptop and a desk.

21. Dropshipping


Not all companies that sell goods store them on-site. In drop-shipping, people who run e-commerce sites go to a third party to fulfill all orders. The third party is likely a wholesale retailer or other entity that runs a warehouse and shipping operation. The minimal inventory and tools needed for drop-shipping make it an especially great startup idea if you’re worried about overhead costs and physical space.

22. Personal training

If the gym is like your second home, you might want to share some of your expertise and help others reach their fitness goals. As a personal trainer, you can offer in-home training sessions that cater to each of your clients’ exercise capabilities. You can also help clients build customized nutrition and meal plans so their diets complement their physical goals.

Many personal trainers start their client acquisition process with social media pages that detail their experience in the gym along with some motivational quotes. While a certification can help expand your customer base, you aren’t legally required to have any specialized training to start this type of business.

23. Resume writing

People are always applying for jobs, whether they want to make a career shift, increase their pay or switch work environments. Of course, most job applications require candidates to submit resumes to detail their professional background. As a resume writer, you can help job applicants’ resumes stand out from their competition.

You’ll also help your clients create cover letters and portfolios that show off the best of their work. Plus, you don’t need any special schooling to be a resume writer – just some basic organizing and proofreading skills. If you know what makes resumes appear professional and ready for employers’ eyes, you’re already off to a great start.

24. Host a podcast

Podcasts have become extremely popular, with more than 100 million active podcast listeners in the U.S. alone. Best of all, you can start a podcast on any topic that interests you, from business to history to pop culture and more. Starting a podcast requires consistency and dedication, as well as a basic understanding of audio editing (and video editing if you want to start a companion YouTube channel for subscribers to follow).

Once your podcast has built up a substantial following, you can sell time to advertisers or establish partnerships with companies that generate revenue. As your brand expands further, you may even be able to charge to speak at events or moderate panels on topics your podcast focuses on. Of course, in order to get to that level, you need to come up with a unique small business idea that you’re passionate and knowledgeable about, and then make sure you can relate to your target audience . 

25. Launch a newsletter

If podcasts aren’t your thing but you like the idea behind building a robust list of subscribers and then selling space to advertisers and partners, consider creating an email newsletter. More than 90% of Americans subscribe to email newsletters . This means if you can capture the attention of a particular audience, you could build a substantial following and monetize it. 

To do so, come up with an umbrella topic you can write about at length, and then work to establish a brand voice and mission. Explore the best email marketing software that can help you manage your subscriber list and email sends, and then you’re ready to get started. Solicit feedback from your audience over time to give them more of what they want and less of what they don’t. After all, their continued engagement with your newsletter is what will help you build it into a successful business. 

26. Event catering

Do you have a passion for the culinary arts? If so, event catering may be a great business idea for you. There’s no shortage of people who need delicious food to serve their guests, whether that’s at parties, weddings, fundraisers, or family reunions. If you have a knack for cooking or baking and love to serve hungry guests, event catering could be a fun and lucrative way to do just that.

To get started, you’ll need to set up a menu and price sheet, as well as obtain all necessary permits and licenses. Start small to get the word out about your catering service, but when your food speaks for itself don’t be surprised if your business grows by leaps and bounds through word of mouth alone.

What are the most successful small businesses?

Small businesses that involve website design, a subset of digital marketing, are among those that make the most sales and bring in the most profit. People learn about businesses on the internet more often than via other avenues, so finding clients and a steady income stream isn’t as difficult. Cleaning services and real estate businesses also have high success rates, which makes sense – all people need homes, and they prefer them to be clean.

Some of the most profitable business ideas are website design, cleaning services and real estate.

What would be a good small business to start?

If you want to maximize your profit while minimizing your workload, try any of the small business ideas that most frequently prove successful. However, if you’re more interested in pursuing your passions while earning enough money to live, start a small business that fulfills you, requires you to use your skills and offers you a good work-life balance . There are so many great business ideas – and you know better than anyone what small business ideas will bring you happiness, success and stability.

How can I start my own business with no money?

You don’t need money to become a small business owner. The first step in starting a business with no money is to keep your current job and launch your small business as a side pursuit at first. Then, develop your business plan and analyze your consumer base, market and potential challenges. 

Near the final stages of planning, you’ll better understand how much money you need to make your business a full-time job. You can find this money through crowdfunding platforms and investors . Consider taking out a business loan only as a last resort.

You should also work with reliable professionals, including an attorney and an accountant. Most of the businesses on this list require particular permits or licenses, and legal counsel can help you make sure you do it all by the book. Meanwhile, an accountant is critical for managing finances properly, especially in the early days when you’re still establishing your revenue stream. While these professionals represent an upfront cost, they’re well worth it and can help you build a healthy business.

Choose a small business idea with low startup costs. If you still don’t have enough money, finance your business idea through crowdfunding or investors.

How do I start a small business from home?

Home-based businesses tend to be the most convenient and manageable ones. That said, not all great business ideas are suited for home offices, so make sure your business can be conducted from home – jobs with on-site needs and heavy in-person demands might not be suitable. In your business plan and budget, incorporate any office supplies and tools that make your online business ideas feasible, such as a separate business computer, a suitable desk, high-speed internet, filing cabinets and a business website.

What makes for a good work-from-home small business idea?

A good work-from-home small business idea boasts the following traits:

  • Minimal inventory and supplies: Presumably, your home isn’t a mansion (yet), and you have only so much space in which to store inventory and supplies. That means lawn care service is probably a no-go if you’re looking to work from home. The same might be true for T-shirt printing if you don’t have space to store your prints. Copywriting and graphic design, on the other hand, require little more than a laptop and a working internet connection, and you probably already have those.
  • Low startup costs : A viable work-from-home business shouldn’t cost much to launch. With minimal storage space, it’s not like you can pile up raw materials and inventory. You might need to buy some software or obtain licensure for certain small business ideas, but your financial obstacles should be few and far between.
  • Computer-based, online work: Many of the above small business ideas require the use of a computer with an internet connection. Drop-shipping, digital marketing and translation are all great examples. An exception to the rule is pet- sitting if you watch over pets at your house rather than the owner’s home. Then, all you need is a pair of watchful eyes and open ears. You can even do computer-based work while watching the pets.
  • Flexible schedule: Traditional office jobs often demand a rigid 9-to-5 schedule from employees. This schedule can feel less important to adhere to if you’re working from home , especially when you’re your own boss. As such, the best work-from-home small business ideas allow for a flexible schedule. If you do your best app development work at 3 a.m., who’s to stop you?
  • Modest collaboration needs: Although remote team collaboration is easy to achieve, working from home goes more smoothly when you’re almost fully independent. A small business in which you answer to just a handful of clients and one or two colleagues (if any) leads to greater independence. Then you can truly work on your own terms and see your small business idea through to full fruition.

What is the step-by-step process for starting a business?

Starting a business takes work, but with the right tools and guidelines, your company will be up and running in no time. Although your specific business journey will be unique to you, we identified a few steps that entrepreneurs can take to start their businesses.

  • Choose a business idea and find your niche
  • Analyze the current market
  • Create a business plan
  • Assess your finances and raise money as needed
  • Determine your legal business structure
  • Register your business with the government and IRS
  • Choose the appropriate business insurance policies
  • Hire employees and build your team
  • Choose your vendors
  • Market and advertise your business

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Business Ideas

30 Small Business Ideas to Make Money in 2022 (Low Investment Ideas)

With so many business ideas in 2023, it can be hard to figure out which are worth pursuing. 

While jumping on a new trend can sometimes be risky — it can also be highly rewarding. You may notice that many of the ideas on this list have been growing in popularity recently. Others have been popular for a long time, making them more competitive but less risky. However, all the small business ideas below will help make you money.

new business ideas in the world

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new business ideas in the world

30 best business ideas of 2023

If you have been asking yourself what business to start, then this list is for you. According to small business statistics , one of the biggest motivations for opening your own business is being your own boss. Owning a business gives you the freedom to work when, where, or how you want. 

Want to work at a beach or your grandma’s house? Go ahead, no one is going to stop or question you. This is the dream life many people hope to live one day, and thanks to some great business ideas, achieving that lifestyle is well within your reach.

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Let’s take a look at the list of business ideas that’ll make you money in 2023:

1. Dropshipping

Are you looking to sell products online but don’t have the money to buy and store inventory? Consider dropshipping! Dropshipping is an ecommerce business model in which you don’t have to manage any physical products. 

All you have to do is set up an online store and partner with suppliers who are ready to store, package, and ship orders to your customers. There’s no need to spend hours on product research, because you can use dropshipping apps like Automizely to find awesome products to sell .

Check out this dropshipping course from Shopify to learn more about selling online without inventory. If you’re searching for easy online business ideas to pursue, it would be hard to find something that tops dropshipping. It’s one of the simplest businesses to start if you have access to the right tools and resources.

best small business dropshipping

The biggest reason people are often drawn to dropshipping is that you don’t have to hold inventory. However, if holding inventory isn’t an issue (maybe there’s enough room in that spare closet), you can consider sourcing products wholesale. 

2. Print on Demand

If you’re looking for proven business ideas to execute, try print on demand . 

Print on demand (POD) is when you sell your own custom designs on items like phone cases, mugs, and t-shirts, but you don’t actually print the artwork. Instead, you collaborate with suppliers who print your design on the product—they even package and ship the item to your customer, so you don’t have to worry about logistics. Also, you only pay once you have sold the products. No sales equals no costs.

One of the quickest ways to get started is to create a Shopify store and install a POD app like Printify . In terms of marketing, partnering with Instagram influencers to promote your POD items is an effective way to reach audiences. To evaluate whether print on demand is the right option for you, watch our video where we get into a healthy debate with Wholesale Ted (a print-on-demand company ).

3. Translation

Multilingual people are always in demand, so if you can speak two or more languages, consider starting a small business where you can monetize those skills. 

You can look for clients on Upwork and Flexjobs and slowly build your portfolio. As you work successfully with more and more companies, you can hire more translators who specialize in other languages to take things off your plate. It’s also a good idea to market your business on social media websites, as it can help you reach a wider audience.

Got only a few hours to spare each day? Translation is one of the best side business ideas to pursue, as it lets you schedule your clients based on when you are available to work.

4. Website Flipping

Website flipping is among the new business ideas that have gotten everyone from work-at-home parents to recent graduates excited. It involves buying an already running website, improving its design and content, and then selling it for a profit. 

There are quite a few places where you can buy and sell websites to earn a profit. Shopify’s marketplace, Exchange , for example, allows you to buy ecommerce websites that you can further improve via content marketing, SEO, and other tactics. Once your site begins to generate more revenue than when you acquired it, you can list it for sale on the marketplace.

website flipping 101

5. Home-based Catering

If you have a knack for cooking and see it as a creative outlet, you can make a decent income by opening a home-based catering business. 

The initial investment depends on how big you want the setup to be. For example, if you start with smaller events that you can manage on your own, you should be able to start your business for less. 

Most home-based caterers start by creating a website , experimenting with local food markets, or joining platforms that allow cooking experts to squeeze some profits from their culinary skills. 

6. Dog walking

It can be difficult to keep up with a furry friend, particularly high-energy breeds with limited outdoor access. As a professional dog walker, you’ll be helping pet owners in the community keep their dogs happy, healthy, and well exercised.

Dog walking requires no initial investments other than marketing and business liability insurance . This will protect you in case of accidents, bites, or unexpected lawsuits. It’s a good idea to charge prices that reflect your insurance costs, with the average range between $30 to $60 an hour.

You can establish a presence for your dog walking business on a number of platforms, including Wag! , Rover , and Care.com . Offer promotions for new clients and build a positive reputation by requesting reviews from those you’ve worked with in the past.

7. Virtual assistance

One of the most successful business ideas is to offer virtual assistant services. Everyone from large enterprises to solopreneurs requires help with the day-to-day management of their business. You can use your excellent organizational skills to take some weight off their shoulders. 

Of course, you’ll get paid for the time and effort you put into answering emails, scheduling meetings, and performing other administrative duties. 

You can land your first few clients by responding to listings on platforms like FreeUp , PeoplePerHour , or Virtual Assistant Jobs . This is a proven business model, as people are always looking for efficient virtual assistants. 

8. Personal shopping

Do you often get praised for your eye for fashion trends? Are you someone who friends and family come to for clothing advice? Personal shopping can be a business that builds on those skills. 

Personal shoppers find clothing items for clients who don’t have time to shop for themselves. Duties involve evaluating your client’s wardrobe, visiting websites, and picking items that will suit them. There are all kinds of products on different online clothing boutiques, so you don’t necessarily have to shop offline to get this business started. 

Plus, you don’t need to hold any special certification or degree to become a personal shopper. If your interests lie in business ideas with low investment, personal shopping might be the ideal route to consider.

9. Car detailing

new business ideas in the world

Contrary to popular belief, it's entirely possible to make car detailing a full-time business. The average profit of car detailing is anywhere from $50 to $400 per vehicle, meaning you could make a healthy profit if you find consistent clients.

The key to success in the car detailing business is marketing. You’ll need to spread the word about your services through a website or social media platform, and encourage regular reviews as well. Try to offer discounts for new clients or package deals for those who commit to multiple sessions.

All you need to get started are cleaning supplies and a driveway. You may consider getting certified through the IDA or taking a craftsmanship seminar to enhance your skills.

10. Online tutoring

If you’re an expert in art, math, or another subject, you can start the business of online tutoring. An essential prerequisite is having a bachelor’s degree in the subject you intend to teach. 

You can find online tutoring clients on sites like Skooli and Tutor.com . For the best results, always teach subjects that relate to your area of expertise, because you’ll be able to share your skills and constructive knowledge to enhance your students’ own knowledge. You can deliver lectures and interact with your students over Zoom, making online tutoring one of the easiest online businesses you can start.  

11. Greeting cards

Greeting cards are always in style, so if you have a good eye for design or just love showcasing your artwork on physical items, this is one of the best creative business ideas for you.

Before you can start looking for clients, you’ll need to have a handful of designs ready to go. Tools like Photoshop and Canva make it easy to create custom card designs. Additionally, you’ll need to stock up on supplies required to create greeting cards (ink, paper, etc.). 

Pro tip: If you want to keep costs low, consider buying your supplies wholesale . Once you have the inventory, you can start generating revenue by marketing your business on Facebook, Etsy, and other similar platforms. 

12. Content writing

Almost every company with a web presence needs help creating content for product pages, blogs , etc. 

As such, starting a content writing or copywriting company could be one of the most profitable business ideas for you. Popular websites for finding those first few customers include Remote.co , Problogger , and BloggingPro . 

You can also join content writing groups on Facebook to get more exposure for your business. To make a good impression on clients, consider offering keyword optimization or custom graphics as part of your services. 

profitable business ideas for 2020

13. Homemade products

If you have a knack for molding soap bars, brewing drinks, or baking specialty products, a homemade crafts business may be a great fit for you. Not only does it serve as a wonderful creative outlet, but it can easily scale up as word of your business gets out.

Some of the most profitable homemade products include agricultural products, beauty solutions like cosmetics and soaps, and accessories such as jewelry. Ingredients and raw materials coupled with your labor should provide a sustainable return on investment.

You can start selling homemade products at your local farmers market , on a platform like Etsy , or with a storefront on iCraft . Try adding a unique twist to your products, such as dessert-themed bath bombs or pop-culture clothing items.

14. WordPress support

A lot of websites out there are hosted on WordPress, and almost every WordPress website owner requires support in some form. So, if you’re familiar with the ins and outs of this platform, you’ll have several opportunities to make money. 

Clients may contact you to fix their CSS, find and address security holes, and more. While you can use platforms like PeoplePerHour and Upwork to get your first clients, we recommend creating a custom website and listing your services there. That way, you’ll be able to avoid high commissions and build high-quality relationships with your clients. 

Hands down, offering WordPress support is one of the best business ideas to try in 2023.

15. Career coaching

With rising unemployment and a saturated job market, there’s no shortage of people needing help finding jobs. If you have a talent for helping your friends and family find suitable employment, you can probably help others too. 

Consider starting a career coaching business where you help others figure out what the best career for them is, how to nail an interview, what traits define a good candidate, and more. You can look for clients in Facebook groups or on platforms like Coach.me . 

The best thing about this business is that you can make money by conducting four to five hourly sessions a month. Plus, you can coach multiple clients in a single session. If you’re looking for good business ideas that won’t occupy too much of your time, career coaching may be the right option for you. 

16. Email marketing

Are you good at writing emails? Have you cracked the code for crafting subject lines that people can’t help but click? If so, you can step into entrepreneurship and make money by launching an email marketing business. 

You can find companies that need help with their email strategy on platforms like PeoplePerHour and Upwork , as well as via cold outreach. Once you demonstrate that skill of enticing recipients, clients will rush to get your services and even agree to the price you quote them (major brownie points if you can help grow their email list). 

Startup costs include investing in email marketing tools , which will automate many of your tasks.

17. Contract cleaning

Not everyone has the time or skills to clean on a regular basis. Becoming a professional cleaner allows you to assist home and business owners with scrubbing, dusting, vacuuming, and more.

Startup costs for household cleaning businesses are extremely low. Cleaning supplies and materials cost less than $100, although you could also purchase specialty equipment like steam vacuums or carpet cleaners. It’s a good idea to set up a website or social media page to get the word out for cheap.

The fees you charge will depend on the needs of your clients. Most cleaners charge by the hour, although some have additional expenses associated with certain tasks (organization, deep cleaning, etc.). Use tools like Angi Leads to display your business and discover what other people are charging. Be sure to register as an LLC and complete all necessary paperwork.

18. Meals to go

There’s no end to the line of people who struggle to find time to cook nutritious and healthy meals. This has led to a rise in meals-to-go businesses, offering all kinds of cuisine options. You can capitalize on this trend by starting your own meals-to-go business in your city, state, or neighborhood. 

Contrary to popular belief, you don’t need to invest in designing a large commercial kitchen. A shared rental kitchen is good enough to run a meals-go-to business. These places are usually equipped with essential supplies and can be rented by month, day, or hour. You can find shared-use, licensed commissary kitchens through websites like The Kitchen Door . 

19. Landscaping services

Have a passion for gardening and yard work? Starting a landscaping business may be the perfect way to turn your hobby into a profitable endeavor. Landscaping services include anything from mowing lawns to planting flowers and shrubs and may or may not be seasonable, depending on your climate.

Determine what you can do best in a yard and market your business to a specific audience. Keep a curated portfolio of your best work, including colorful photographs with detailed outcomes for customers. If you offer unique services (fertilizing, pest control, etc.), be sure to highlight that across your social media platforms.

You can find your first landscaping clients by going door-to-door in the neighborhood or hopping on platforms like TaskEasy . Websites like HomeAdvisor connect your landscape business with paying clients in your area. You can also get certified with the National Association of Landscape Professionals to boost your credibility.

20. Website testing

Did you know that brands with a digital footprint hire real people to give feedback on their websites? These opinions allow them to address issues that their developers may have failed to identify. You can hire a bunch of people on a freelance basis and create your own website testing company. 

As you take on projects, your employees will receive a set of questions that they need to answer as they navigate a company’s website. Through video, they’ll communicate their initial thoughts on the current user experience and how the site could be improved. 

You can find work through websites like UserTesting , Ferpection , and TryMyUI . 

21. SEO 

Do you have experience in generating backlinks and improving the search engine visibility of a website? If yes, then there’s an opportunity for you to cash in on your skill set. 

Site owners worldwide require the services of SEO experts, so opening a business in this field could turn out to be one of your best decisions. When looking for clients, focus on a niche audience, learn from the experiences, and build your portfolio—showcase your success stories and you are bound to see an influx of clients if your SEO techniques are on point. 

You can choose to target all sorts of companies or appeal to businesses in a particular niche, such as in the legal, health, or financial sector. With monthly retainers of $501 to $1,000, selling SEO services is one of the best business ideas to make money in 2023.

22. App development

App development is one of the best profitable small business ideas, since so many companies require an app. Not to mention, the cost of starting this venture has drastically gone down due to the growth of tools and affordable developers.

Today, you can use software like OmniGraffle or Sketch to create the wireframes and mockups before you decide to publish the app. Alternatively, you can hire a freelance app developer via AngelList and Upwork . 

There’s also the opportunity to earn passive income by creating apps for the general audience. Of course, that requires you to develop a monetization strategy that generates recurring revenue. Profitable strategies include offering in-app purchases and charging for a premium version of your app.

23. Stock photography

If you have the ability to capture great candid moments or recently did a portrait shoot of a relative, you can become a stock photographer by registering a sole proprietorship under your name. 

Companies like Shutterstock , Adobe Stock , and the like are always open for image submissions. You can start by listing a few of your existing photos on these platforms. Once you’ve submitted your photographs, wait for people to download them. 

Most stock photography websites pay you a royalty for every download on their platform. Another option is to launch your own photography website and sell images directly to people, which is only viable if you have the resources to invest in marketing. 

24. Virtual dance studio

The upsides to a virtual dance studio are pretty obvious: you don’t need to rent a big space, and it’s convenient to record, publish, and share the choreography at your own discretion. It’s even possible to give dance classes from home, making it one of the best home-based business ideas . Plus, there’s no limit to the number of students you can enroll in your class. 

To start a virtual dance studio, you’ll need to invest in video conferencing software, such as Zoom . You’ll also need high-speed internet to ensure there are no lags or buffering during the livestream. Make sure to arrange enough classes per month so that your students learn their routines fast.

If you have a passion for creating your own unique choreography, you may also find opportunities to partner with dance schools to give their students access to your content on a membership basis. 

25. Instagram consulting

If you know the secrets to Instagram engagement , consider becoming an Instagram consultant. Clients will pay you for creating engaging captions, responding to comments, creating attractive bios, and more. 

You can monetize these services by charging a specific rate per hour or by project. This is the perfect business idea for digital nomads , as everything can be managed from a laptop or smartphone. 

To become a sought-after Instagram consultant, master the skill of creating killer Instagram ads that get people to engage and buy from businesses. You can get your first clients by marketing your business on Upwork and other social media platforms.

26. Video production

According to video marketing statistics , 85% of internet users in the US watched an online video on their devices. With more and more videos being watched than ever before, there’s certainly a need for people who can record, edit, cut, and publish videos. Therefore, starting a video production company might turn out to be a lucrative business idea for you.  

The initial investment in this business is a basic lighting set, wireless microphones, one to two cameras (and lenses), and editing software like Adobe Premiere or Final Cut Pro . See if you can find second-hand varieties for some of this equipment in order to reduce startup costs. 

You can offer to produce video content for companies’ YouTube channels, manage graduation and wedding videography, and more. While there’s no restriction to the types of projects you can do, specializing in a niche makes it easy to stand out in a busy marketplace. 

27. Software education

Do you have acquaintances who lack proficiency in computer software? If so, you can set up your own software education business and enroll students on a monthly basis. 

Pupils might include entrepreneurs looking to build on their IT skills, or other small business owners looking to master software like Excel and PowerPoint. If you have the expertise, you can lead from the front by teaching most classes. 

As your business grows and more people sign up for your programs, you can hire freelance software experts to teach students based on their area of expertise. Although you can rent out space for classroom lectures, consider hosting virtual classes to keep costs low and expand your business to international markets. 

28. College preparation

Helping high schoolers get accepted into college is a booming business. According to IBISWorld, the market size of the testing and educational support industry was $17.9 billion last year, so there’s a lot of money to be made if you can gain a foothold in the market. 

To start, pick a certain area of college prep you’d like to run your business around. For instance, you can offer ACT tutoring, help students brush up on practice admission essays, etc. Once you’ve narrowed your focus, it’s time to register and introduce the business to students.

29. Niche staffing agency

Nearly every industry has open jobs, and employers are keen to hire the best people for their companies. Your task as a niche staffing agency is to match employees to employers in your sector of choice. 

Figure out what type of roles you’ll be staffing (Junior? Mid-level? C-level?) so that you can identify the right candidates for the position. Additionally, consider the employment terms that your agency will share with potential candidates. 

You can be a temporary, temporary-to-permanent, or long-term staffing agency based on the needs of the market.

30. Digital event planning

One of the best small business ideas is to open up a digital event planning company. In this business, you’ll plan, organize and report on digital events like webinars and online summits for different companies. 

Money can be made by charging an hourly fee for your service, selling sponsorships, etc. If you ever dreamed of planning a wedding or exhibition, but never quite had the time to organize anything, you can still channel your inner facilitator by planning digital events for people and businesses.

There you have it, a list of 30 small business ideas that’ll make you money in 2023. To give yourself the best chance of success, focus on one idea at a time until you find one that aligns with your abilities. 

Thousands of entrepreneurs have implemented these business ideas to make money, so you can be sure that you’re putting your time and effort into something viable and proven. Whether you’re a college student, a work-at-home parent, or anyone else looking to start a business , remember there are plenty of opportunities to earn a sizable income. 

If you’re looking for even more business ideas, don’t forget to check out Shopify’s post on the 23 most profitable business ideas in 2023 . 

30 Business Ideas to Try In 2023

  • Dropshipping 
  • Print on demand
  • Translation 
  • Website flipping
  • Home-based catering 
  • Dog walking
  • Virtual assistance
  • Personal shopping
  • Car detailing
  • Online tutoring
  • Greeting cards
  • Content writing
  • Homemade products
  • WordPress support
  • Career coaching
  • Email marketing
  • Contract cleaning
  • Meals to go
  • Landscaping services
  • Website testing
  • App development
  • Stock photographer
  • Virtual dance studio
  • Instagram consulting
  • Video production
  • Software education
  • College preparation
  • Niche staffing agency
  • Digital event planning

Which of these business ideas are you looking to start in 2023? Share your answer in the comments below!

Want to Learn More?

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  • 10-Step Formula to Achieve Financial Freedom in 2021
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  • 16 Reasons To Start a Business in 2021

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The 23 Most Profitable Businesses in 2023

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Some people venture into entrepreneurship with a clear vision: They know what industry they want to conquer and the path they’re going to take to get there. However, for many new entrepreneurs, it can be difficult to figure out how to start a business — plus, determine exactly what type of business is the best choice to invest in.

To help you launch your journey, we’ve compiled a list of the most profitable businesses, considering factors such as industry growth and competitiveness, startup costs and barriers to entry, as well as profitability potential.

new business ideas in the world

Most profitable small businesses

With a solid business plan, hard work and determination, any strong business idea may become successful and profitable.

Businesses in high-growth industries with lower startup costs , however, may have greater profitability potential. With the rise of technology, for instance, you’ll probably have more success starting a virtual assistant business than opening a grocery store.

Although some of the most profitable businesses are based online, others involve in-person services, and some are a great fit if you're an entrepreneur on the go. Here’s our list of the most profitable small businesses:

1. Food trucks

The food truck movement has been experiencing consistent growth over the past five years — and it’s expected to continue — with the market projected to grow to $6.6 billion by 2028, according to a 2021 report by Grand View Research. You can start a food truck business for less than a third of what it costs to open a brick-and-mortar restaurant; plus, you have geographic versatility, the potential for high revenue returns and the flexibility to create a custom menu that’s all your own.

Keep in mind that bigger, trendier cities like San Francisco, Boston and Washington, D.C., already have a pretty saturated food truck market (as well as tougher regulations to get started) — so this might be a more successful business in a smaller heartland metropolis.

Food trucks also tend to have their own special set of ordinances, business licenses and safety compliance standards. They also require food business insurance , so you’ll want to contact your local health department to find out what will be required.

2. Car wash services

The rising price and expanded features of new vehicles are causing car owners to keep their cars longer, according to a 2020 study by Consumer Reports. And as drivers keep their cars longer, businesses like car washes that help people maintain the value of their auto investment are expected to keep rising as well.

According to the International Carwash Association, 66% of Americans wash their vehicles somewhere between one to two times per month, with an average of 13 times per year. The car wash market is projected to increase from $14.7 billion in 2021 to $20.7 billion by 2028.

You might make a car wash business even more profitable by turning it into a mobile service. Customers may pay more for a car wash that comes to them, especially if they have a luxury car and prefer a more personalized service. And as a mobile car wash and auto detailing service, you’d avoid the overhead and startup costs of having a physical location.

3. Auto repair

In 2021, the average age of cars and light trucks in the U.S. rose to 12.1 years, increasing from 9.6 years in 2002, according to IHS Markit (now part of S&P Global). People are keeping their cars longer than ever, suggesting there’s significant opportunity in the maintenance and repair business.

Additionally, car owners are more likely to visit a small business for repairs; according to the Auto Care Association, more than 70% of repair business is captured by independent repair facilities compared with dealerships or manufacturer-authorized repair facilities.

If you’re skilled as a mechanic, you might consider an auto repair service as one of the most profitable business ideas. You can offer oil changes, fluid refills, battery swaps, headlight repair and more. And if you’re looking to save on overhead costs, you might make it a mobile service and travel to your customers, performing repairs in their driveway or office parking lot.

new business ideas in the world

4. Personal trainers

Employment of fitness trainers and instructors is projected to grow 39% from 2020 to 2030, much faster than the average for all occupations, according to the U.S. Bureau of Labor Statistics. But turning your love of fitness into a career doesn’t have to mean working for a big corporate gym — nor do you need the overhead of having your own location to train clients. Throw a few weights, bands and yoga mats into the trunk of your car, and take your fitness show on the road.

You can become a personal trainer by offering one-on-one sessions in your clients’ homes or advertising group classes at a local park or community center. Making fitness more available to your clients might just be the ticket to helping both of you achieve your goals.

» MORE: Best mobile business ideas for on-the-go entrepreneurs

5. Newborn and post-pregnancy services

Although millennials are deferring parenthood for longer than previous generations, many do eventually want to have kids. In fact, according to an analysis of government data by the Pew Research Center, as of 2018, more than half of millennial women have had a child.

Now, both millennials and Generation Z are considering parenthood, and the need for child-oriented businesses is growing, starting with post-pregnancy and newborn-related services. And as a result, a 2018 Research and Markets report expects the maternity care market in North America to reach over $3 billion by 2023.

Demand for doulas and lactation consultants, in particular, has risen among new mothers, and both business options have relatively low overhead requirements beyond education and certification.

See how to get your business started quickly

Find the money to get going: Compare the best small business loan options right now .

Set up a bank account: Details on how to get a free business checking account .

Start accepting credit cards and other payments: Options and how to use point-of-sale systems .

Start tracking your profits:  Pick out and set up simple accounting software .

6. Enrichment activities for children

While Americans continue to have children, shrinking budgets for education mean that both traditional academics and enrichment subjects like music, art and athletics often take a significant hit.

A successful business to start might be one that teaches enrichment activities to children. According to a 2018 U.S. Census Bureau report, kids are just as involved in extracurricular activities today as they were 15 years ago. And some research indicates that nearly half of American parents spend more than $1,000 annually on their children’s activities.

You could launch a gymnastics center or music school, become a swimming instructor or kids’ yoga teacher, or focus on some other child-centered activity. If you have a skill that could be easily taught to young students, you might already have a profitable business in the making.

7. Mobile apps and entertainment for children

If your interests are in development and engineering, you might consider gearing your technology toward the youngest users. Research shows that demand for tablets, apps and mobile entertainment for children is on the rise — especially if those products are education-focused.

According to a Learning First Alliance report on mobile devices and early childhood education produced by research firm Grunwald Associates, more than 60% of parents surveyed believe that mobile devices and apps have benefits for teaching kids skills in reading, math, science and world languages.

Do you have an idea for an educational app for children or parents? If so, now's the time to move forward on your bright idea for the next generation and make this potentially profitable business a reality.

8. Shared accessories and attire

Sites like Rent the Runway and Gwynnie Bee have banked on the idea of the sharing economy — where we want and need to own less stuff, so instead, we share resources.

These companies offer borrowed or rented clothing and accessories at a fraction of their purchase prices, and because the same piece of inventory generates revenue multiple times, the profitability of these ventures can be significant. According to a 2021 study by the reselling platform Mercari, the secondhand-clothing market is projected to more than triple by 2030.

Do you have an eye for fashion and a sense of style not currently offered by other rental services? Maybe you’re ready to be the next big thing.

Even if you’re not prepared to launch a multimillion-dollar fashion startup, you can just as easily profit from shared fashion at the local level. Gather some favorite accessories or clothing picks and host a borrowing party — where customers can rent or purchase items from your closet — for high school students before the next formal dance.

If you’re in a college town, Greek life formals are another great opportunity to profit from shared economy fashion. And because you’re taking shipping costs out of the equation, you have the potential to be even more profitable.

» MORE: Best business credit cards for LLCs

9. Shared home improvement equipment

Are you the go-to person in your neighborhood for every lawn, garden and home repair tool? Why not turn those tools into a profitable business by advertising your available equipment beyond your immediate friend group?

You might even decide to invest in more specialized and higher-cost equipment that would be useful to those around you. And if a customer doesn’t know how to use a specific tool, combine equipment rental with your mobile service for even more cash in the bank.

Home improvement spending has increased since the start of the COVID-19 pandemic — and U.S. households spent an average of $8,305 on improvement projects in 2020 alone, according to a study from Home Advisor. As more people continue to invest in fixer-upper houses and remodel, this could be a big opportunity.

» MORE: Best small-town business ideas

10. Vacation rentals

If you live in a highly desirable tourist destination, you can make a profit renting space in your home to travelers. Sites like Airbnb or VRBO have made it easier than ever to profit from your unused vacation property — or even your extra bedroom. According to Airbnb, the average U.S. host makes over $13,800 a year.

It's not too difficult to become an Airbnb host , and the demand for these types of rentals has only grown in recent years. In 2021, 356.9 million nights were booked on Airbnb — up from 251.1 million nights in 2020. However, some cities have laws and regulations regarding Airbnb and other rental platforms, so you’ll want to make sure you check the guidelines in your area before getting started.

11. Electronics repair

According to the Pew Research Center, as of 2021, 85% of Americans own a smartphone, and over 75% of U.S. adults own a desktop or laptop computer. And with more employees working from home, there’s an even greater reliance on a variety of electronics.

That means that when something goes wrong, people want help fixing it as soon as possible. This makes electronics repair a potentially lucrative business idea. According to a 2022 report from the Business Research Company, the global electronics repair and maintenance market is expected to grow from about $8 billion in 2021 to $9.6 billion in 2026.

With this service, you could be the solution for every broken iPhone screen, Wi-Fi card and laptop battery. And you might be even more successful if you’re willing to travel to your customer. Apple stores and other electronics retailers have come under fire recently for long customer wait times, which could work in favor of mobile providers.

Although a mobile electronics repair business involves some overhead in the form of purchasing supplies, being mobile saves you from having to pay the costs associated with a physical location.

12. Academics courses

Online entrepreneurs can offer courses through educational platforms or independently on their own websites. The U.S. e-learning market has accelerated growth since the onset of the COVID-19 pandemic and is predicted to increase by $21.6 billion in 2024, according to a 2020 report by Technavio.

You might start your business by providing courses in traditional academics, offering online instruction in grade-level reading, math, science, history or standardized test preparation. You could even create a review course for parents helping teens with their algebra homework. If you’re creative, the possibilities are truly endless.

And academic courses don’t have to end at the high school or even college level. You can create an online course to share your love of political history, Buddhist theology or rocket science. If you’re interested in a particular subject, chances are someone else is, too.

13. Language courses

Currently, one-fifth of U.S. families speak one other language, apart from English — based on data from the Census Bureau. And with more languages being spoken nationwide, the demand for online language learning courses is growing. The market is projected to increase by $5.7 billion from 2021 to 2026, according to a 2022 report from Technavio.

So whether you take to the online education space with expertise in English, or you harness your mastery of Swahili, there’s likely someone out there who wants to learn a language from you.

And if you speak one of the most in-demand languages, such as Mandarin, Spanish or Arabic, then online-based language courses could be one of your most profitable business ideas.

» MORE: Easy online business ideas you can start now

14. Business or marketing courses

Since the beginning of the COVID-19 pandemic, participation in career-focused online courses has grown significantly, especially as more employees look to change jobs or work from home. For instance, LinkedIn saw a 53% increase in global hours spent learning from 2020 to 2021.

Companies have expanded or launched new coverage for tuition reimbursement in recent months, meaning workers have money to spend on these types of classes. According to a 2022 Harris Poll performed on behalf of Fortune, 14% of employees reported their companies offer some type of coverage or reimbursement for online training courses; and over the past six months, 10% of employees reported their employers have expanded or launched new coverage for these types of training opportunities.

If you have career skills to share, you can start creating online courses with few initial costs. Popular course topics include bookkeeping, QuickBooks accounting software , WordPress web development, graphic design or even how to write a great cover letter or resume.

15. Personal wellness

Are you a therapist or counselor, a yoga instructor, a life coach or a longtime meditator? If you have a deep passion for personal wellness, you might be able to help others — while also earning a significant income.

For example, in 2017, the U.S. accounted for nearly 50% of the global yoga market, according to a 2019 report by Allied Market Research. The same report predicts the U.S yoga market to grow at a compound annual growth rate, or CAGR, of 11% by 2025. Americans who practice yoga spend, on average, around $90 a month on the activity, according to a 2019 survey from OnePoll and Eventbrite. Additionally, the number of people participating in wellness activities online has grown significantly. Yoga was the most popular ClassPass digital workout of 2020, experiencing a 25% increase in reservations over 2019.

And, like many of the options on our list, as long as you have the knowledge, the costs to start a personal wellness business are low.

Every person has a desire to better themselves, and that’s what online courses are all about. If you have this expertise to share, you could turn your knowledge into a profitable business.

16. Courses in hobbies or interests

While many courses are designed to further an education or career prospects or to promote major life changes, you can just as easily design an online course around any hobby or interest.

Do you have a passion for calligraphy or craft brewing ? Have you mastered a certain video game? You'd be surprised at the number of people willing to pay to learn about topics they're interested in. Some of the bestselling courses on the popular online learning platform Udemy include web development, ethical hacking, cryptocurrency, Photoshop and drawing — and they sell for up to $150 per class.

Not sure how to start designing your own online course? Well, there are even online courses for creating your own online course. You can use one of these courses to propel your own online course business.

17. Bookkeeping and accounting

Accounting and bookkeeping are unavoidable requirements of business ownership. But for many entrepreneurs, money management is the most tedious part of owning a business; that's why some business owners choose to outsource those tasks.

Whether you’re a certified public accountant or just a QuickBooks wizard, you might be the perfect candidate to launch your own bookkeeping business . With a net profit margin of 18.4% (according to a 2017 Sageworks report), bookkeeping, accounting, tax preparation and payroll services have long been some of the most profitable businesses for entrepreneurs.

As a bookkeeper, you can process invoices and payroll, compile expense reports and more. If you have a CPA license, you can help business owners file taxes, generate balance sheets and other accounting documents, as well as make professional recommendations about your client’s bottom line.

18. Consulting

If you’ve been in the business world for a long time, folks may be clamoring for your knowledge and expertise within your industry. Why not turn all that know-how into a new career as an independent consultant?

According to the Bureau of Labor Statistics, demand for consulting services is expected to increase, particularly among smaller companies that deal in specialized industries or business functions. Employment of management analysts, which includes consultants across different industries, is projected to grow 14% from 2020 to 2030 — faster than average for all occupations.

As an independent consultant, you can be paid to speak at industry conferences or events, serve on a board of advisors for a fledgling business, or lend your expertise to shape the strategy of an existing business on a contract basis.

Whatever your skill set, starting a consulting business is a great way to make the income of your dreams while working on your own terms.

» MORE: 145 new service business ideas for 2022

19. IT support

Our reliance on technology makes IT support just as profitable a business idea as electronics repair and other tech businesses — especially considering employment of IT professionals is projected to grow 9% from 2020 to 2030, according to the Bureau of Labor Statistics. With an IT business, you can help customers when they have issues with their internet or computer software, as well as install security programs and network updates.

If technology comes easily to you — and you’re a relatively patient person — then the most profitable business for you might be hitting the road, at least in your neighborhood, with mobile IT support. You can offer a service to combat the chat or phone support typically offered by technology manufacturers, which often includes long wait times and leaves customers with unanswered questions.

All you need is time, transportation and your own know-how, so this low-overhead business model could be almost pure profit.

20. Graphic design

As the number of brands vying for consumers’ attention grows, a slick and polished image has become more important than ever for small businesses. Adobe’s research has shown that 73% of companies that are investing in design are doing so to stand out from the competition.

And although, according to the Bureau of Labor Statistics, employment for graphic designers is expected to grow only 3% from 2020 to 2030, there are opportunities out there, especially for graphic designers who work freelance — which 90% of graphic designers in the industry do, according to a 2021 report by IBIS World.

Do you know your way around Adobe Photoshop, Illustrator and InDesign? Have you taken a few design classes, and do you have an eye for good branding? Turn your skills into a business as a freelance graphic designer. You’ll have almost no overhead and can help small-business owners create awesome marketing graphics.

21. Social media management

These days, customers expect a business to have a strong social media presence and to be responsive to customer service issues on social media.

Although many small-business owners know they need to engage in social media marketing, few have the necessary time or expertise to manage all of their social media accounts.

If you’re fluent in Twitter, live your life on Facebook and have gotten every job you’ve ever had through LinkedIn, you might consider turning your social media expertise into your own solopreneur business venture — offering support to business owners who need help managing their brands' social media platforms.

As long as you have your own laptop, smartphone and social media accounts, there are few costs to getting started, and job growth in the industry is projected to increase 11% from 2020 to 2030 — faster than average for all other occupations.

22. Marketing copywriter

If you’re particularly adept with words, you can use your talents to write copy for various companies’ marketing efforts.

Based on data from LinkedIn, hiring for digital marketing professionals grew 33% year-over-year from 2019 to 2020, and it grew 49% in the same time frame for content creators (including roles such as blogger, creative writer and editor).

Whether you’re coining a catchy slogan or writing an in-depth description of a company’s offerings, if you’re doing it as an independent contractor, you’ll have very few startup costs. Once you get started and build relationships with clients, you’ll quickly be able to earn a profit for your services.

23. Virtual assistant services

With more employees working from home, and with teams spread out across different locations and time zones, businesses can benefit from an assistant who is just as flexible as they are. There's no longer the need to meet with a client every day in an office — you can work as an assistant from New York when your client lives in Florida.

According to ZipRecruiter, the average remote virtual assistant in the U.S. makes $63,500 a year.

As a virtual assistant , you can choose your clients and create your own schedule, managing emails, scheduling meetings, booking travel and completing other basic tasks to make your customers’ lives and businesses run more smoothly.

Plus, all you need is a laptop and an internet connection to start this business.

How to start a profitable business

These ideas for profitable businesses span a variety of industries and involve varying time commitments and startup costs. Before you can earn any profit, however, you’ve got to get your business off the ground.

Here are three steps to help you get started:

1. Do your research

Whether you choose one of the ideas here or come up with something on your own, do your research before committing to any concept. You'll want to perform idea validation, a process that involves market and competitor research, as well as a financial feasibility analysis to help test your business idea and determine whether you want to move forward with your business proposal.

2. Get organized and make it official

Once you’ve chosen a strong business idea, you’re ready to create a thorough business plan . Your business plan will outline your company’s goals — and how you’ll achieve them — as well as provide a roadmap for you (and potential investors) to follow for the next three to five years.

After you’ve written your business plan, you can take the necessary steps to make your small business official. You’ll choose a business structure, apply for an employer identification number, register your “Doing Business As” name (if necessary) and get the business licenses and registrations you need to open your doors.

» MORE: Important legal requirements for starting a small business

3. Find the right financing

It can be difficult for startups to qualify for some traditional business loans, as they often require multiple years of business history for approval. Instead, new business owners might consider startup funding options, such as microloans, grants, crowdfunding, or asking friends or family for an investment.

Business credit cards are also an option for short-term financing, especially for everyday business purchases. With a business credit card , you can earn perks and rewards on your spending, as well as start building a business credit history.

This article originally appeared on JustBusiness, a subsidiary of NerdWallet.

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Written by Jesse Sumrak | March 27, 2023

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Can there really be that many good business ideas? Yes, there can. This is actually our filtered-down list—you should have seen how many other almost-good ideas nearly made the cut.

Whether you’re an experienced entrepreneur or brand new to the scene, we’ve compiled the best-of-the-best business ideas for you to bring to life in 2023. These range from freelance writing to career coaching to dog walking and everything in between.

Ready to find your next big idea? Keep scrolling.

What Makes a Business Idea Good or Bad?

It’s not always just the idea you need to think about. Sometimes it’s you, the situation, market circumstances, or industry trends.

One business idea can be good today and bad tomorrow. It all depends on various factors (both predictable and unpredictable). Not every good business idea will be right for you, and that’s OK.

Fortunately for you, you don’t need 50 good business ideas—you really just need one. Here’s what to keep in mind when finding the right startup idea :

  • Personal Interests: Don’t start a freelance writing business if you hate writing. Align your interests with your business. That’s the freedom you get when starting your own business—don’t throw it away from the get-go.
  • Bandwidth: Some business ideas require more input and investment. For example, opening and managing a new Italian restaurant will be more time-consuming than launching a restaurant consulting business. Neither is better than the other—just under your capacity and limitations.
  • Budget: Starting a business isn’t free. Some ideas cost less than others, though. Keep in mind your budget constraints when planning your venture.
  • Trends: You want to be on the climbing side of a trend curve—not the decline. Thinking of starting a business centered around Pokémon GO? You’re only about 6 years too late.
  • Problem-Solving: Find a business idea that solves a problem. Start with the issue, then find a product or service solution.
  • Renovation: A good business idea doesn’t need to be innovative—it can be renovative. Fix a broken idea or build upon an already successful one.

Once you’ve found the right business idea, don’t quit your day job (yet). Test it first.

Don’t Skip: How to Start a Business from Scratch (Step-By-Step Process)

50 Good Business Ideas in 2023

We’ve broken down these good business ideas into a few different sections. Here’s how they’re categorized:

Types of Good Business Ideas

Low-Cost Startup Ideas

Online Business Ideas

Remote Business Ideas

Freelance Ideas

Business Ideas for Women

Side Hustle Ideas

Recession-Proof Business Ideas

Build your business button

7 Good Low-Cost Startup Ideas

Starting a business can be expensive. Rent, wages, inventory, advertising, web hosting, marketing—it all starts to add up quickly.

Fortunately, not every good business idea costs a fortune. You can find plenty that cost little to no cash to launch. Let’s start with these low-cost startup ideas first :

1. Freelance Writing: Turns words into income as a for-hire freelance writer . Find an industry that interests you and start writing. This could be thought-leadership articles, SEO-driven content, email campaigns, social media posts, or web pages.

2. Consulting: Freelancers tend to provide deliverables, while consultants provide advice, strategy, and expertise. If you’ve been in an industry for quite some time, there’s a good chance businesses will pay for your wisdom as a consultant . Develop expertise in emerging industries, like AI, to be an early adopter in a niche agency.

3. Course Creating: Have lucrative know-how? Bundle it all up into a well-designed online class and sell it as a course creator . We’re all for it—that’s what we do at Foundr.

4. Podcasting: Total podcast listeners are growing 20% each year . Jump in on the action by creating your own audio-based show. Here’s how to make your podcast stand out from the rest .

5. Blogging: Everyone likes blogs—you’re reading one right now. If you like to write, drive traffic to a website with blogging . Once you have an audience, you can monetize your visitors with ads, ecommerce, sponsorships, donations, and affiliate marketing. Speaking of affiliate marketing…

6. Affiliate Marketing: Instead of selling your own products, sell other businesses’ goods. You’ll make a commission every time someone clicks through your links and makes a purchase. Learn how Catena Media’s Erik Bergman used affiliate marketing to launch an IPO (initial public offering) his consultancy firm.

7. Website Building: Over 627,000 new businesses open each year in the US, and every single one of them needs a website. If you have a knack for building them, sell your services as a website builder. Here’s how to build sites quickly .

6 Good Online Business Ideas for Beginners

We won’t pretend starting a business is easy. It comes with a suite of challenges that bring even the best entrepreneurs to despair, headaches, and tears.

However, it’s worth the challenge.

Lucky for you, some business ideas are easier to start than others. If you’ve never dabbled in launching a business, then these online business ideas for beginners are a great place to start.

8. Ecommerce: Ecommerce is just selling stuff on the internet. Find a product , sell it online, and make a killing. That’s easier said than done, but our guide on how to start an ecommerce business will walk you through the entire process.

9. Virtual Assisting: Help businesses, executives, and freelancers schedule appointments, make phone calls, submit invoices, and manage basic finances as a virtual assistant .

10. Social Media Managing: Many businesses don’t have the bandwidth to manage social networks across Facebook, Twitter, LinkedIn, Instagram, Pinterest, and TikTok ( yes, TikTok ). If you’re a savvy social media marketer, you can provide management services across paid and organic channels.

11. Branding: Designing a top-notch logo is hard. Writing a clever tagline is a challenge. Tying it all together into one cohesive brand—that’s the struggle of a branding expert. If you have a talent for it, sell your services in a freelancing or consulting capacity.

12. Domain Flipping: Instead of building websites from scratch, buy existing sites from domain marketplaces. They could be in great, semi-rough, or poor condition—your job is to polish them up and sell them for a profit.

13. Subscription Box Curating: Create a subscription box for a niche in need. There’s a lot of competition in this space, so you’ll need to be clever with your offering and targeting—but Henrik Werdelin built a 9-figure subscription box business just for dogs .

Top 4 Ecommerce Products that Sell During a Recession

3 Good Remote Business Ideas

New business ideas have blossomed due to the acceptance of remote work. Give these remote work ideas a try to launch a business and help alleviate unexplored problems.

14. Wellness Programming: Remote work isn’t great for everyone—some folks struggle with stress and isolation. As a wellness programmer, you can provide ways to relax, decompress, and focus on mental and emotional wellbeing. This could be in the form of yoga, meditation, stretching, training, or just healthy habits.

15. Remote Work Services: Provide remote-empowering solutions to businesses in need. While it feels like remote started decades ago, some companies are still learning to adapt and cope. Offer services to boost collaboration or fill holes left open by work-from-home policies.

16. Virtual Fitness Training: Peloton doesn’t have a monopoly on online fitness—some people want other forms of exercise, and others prefer a more local community feel. Become a hyper-specialized fitness trainer in specific niches, such as ultramarathon training, rowing, ski mountaineering, or rock climbing.

6 Good Freelance Job Ideas

Freelancing has been on the up and up in recent years, and the pandemic has only been a catalyst for the movement. Especially with the Great Resignation upon us , companies need freelancers to step up to the plate and take over heaps of work.

If you have the right skill set, you can fulfill that need with one of these freelance job ideas .

17. Video Shooting and Editing: Video content is all the rage, but it’s not easy for busy businesses to produce. If you know your way around a camera and video editing software, you can find plenty of work as a freelance video specialist.

18. Career Coaching: Help clients find their way through their dream careers. You might guide them towards a more appropriate, fulfilling job, or you could give them the tools they need to negotiate their next big promotion.

19. Public Relations: Help businesses land press coverage with media kits, networking, press releases, and storytelling. It’s a demanding job, but it’s right if you like working in a non-stop, fast-paced environment.

20. Marketing: Use content marketing, email, social media, and advertising to market your clients’ products and services . Marketing is all-encompassing, and you’ll likely choose to niche down to a specific channel or strategy down the road.

21. App Developing: Apps are becoming a must-have part of most businesses’ products and services. However, finding an available engineer to build an app is near impossible. If you know your way around Java , Swift , or Kotlin , you’ll be in high demand for mobile app development.

22. Integrating: Some leaders inspire, others innovate, and a few dream. Integrators get things done. They take dreams and aspirations and turn them into reality. It’s a hands-on job, but it’s high-visibility and high-reward.

How To Find The Next BIG Business Idea | Nextdoor's Sarah Leary

12 Good Business Ideas for Women Entrepreneurs

There are 114% more women entrepreneurs now than 20 years ago. Women are looking for more autonomy, work-life balance, and financial freedom—and they’re finding it on their own rather than waiting for the corporate world to change.

If you’re looking for a good business idea that promises location flexibility and work schedule independence, we have a few thoughts. Plus, these business ideas for women entrepreneurs are typically in women-dominated industries—helping you escape the gender discrimination more prevalent in male-dominated sectors.

23. Etsy Shop: Esty is the go-to marketplace for creative entrepreneurs. Want to make one-of-a-kind products? This is where to go to sell them.

24. Interior Designing: Have an eye for design? Become a residential or commercial interior designer. Ergonomic setups and feng shui (arranging furniture for balance) are becoming more of a priority in the business world, meaning more opportunities for you.

25. Graphic Designing: Logos, landing pages, websites, hero images, email campaigns—anything with pixels needs a graphic designer’s touch. While tools like Canva are growing in popularity, they’ll never replace a need for graphic design experts.

26. Dropshipping: Sell products without storing them in your home or a warehouse. It’s the perfect anti-Lula Roe way to sell goods without risking inventory issues.

27. Life Coaching: Coaching isn’t just for career advice. Sometimes, people need life advice. It’s less therapy and more guidance.

28. Tutoring: Online course instructing is when you want to teach the masses—tutoring is for more private 1:1 teaching. Have an in-demand skill? There’s a good chance someone will pay you to teach it to them.

29. Real Estate: Purchase investment properties, find a tenant to pay rent (hopefully covering the monthly mortgage), and sell the property after it appreciates substantially. That’s real estate for you.

30. Wedding Planning: A wedding is the most important day of two partners’ lives. If you can navigate all the moving parts and piece together something beautiful, you’ll be on everyone’s contact list come springtime.

31. Personal Chef: You don’t need to own a restaurant to be a chef. More individuals and families are hiring personal chefs to cook in private settings.

32: Event Planning: Conferences, parties, meetings, conventions, trade shows—they need talented event planners to come together. If that sounds like you, you’ll always have a job in event planning.

33. Makeup Artist: Makeup isn’t as easy as it looks in the commercials, and that’s why makeup artists are killing it on YouTube, Instagram, and TikTok showing people how it’s done.

34. Cleaning Business: Everyone needs cleaning: commercial and residential. If you don’t mind getting your hands dirty (or managing the business), you’ll find plenty of messy people begging for your help.

How Her Rejected Pitch Led to a Billion-Dollar Startup

13 Good Side Hustle Ideas

Some ideas start better as a side hustle until they bloom to maturity. Side hustles (for better or worse) are less committing than full-time ventures. You can often grow them on the side while maintaining your 9-to-5 until the timing is right .

You also have the option to keep them as a side hustle. Not everyone wants to quit their full-time job and become an all-in entrepreneur, and that’s OK. These are the perfect side hustle jobs for pursuing a passion, making an extra buck, or laying the roots for your next business.

35. Ghostwriting: If you don’t mind trading credit for income, ghostwriting can be a lucrative business idea.

36. Podcast Editing: Some people thrive doing podcast interviews, but they can’t navigate the editing process. That’s where you come in.

37. Influencer Marketing Specialist: Most businesses are hesitant to start with influencer marketing simply because they don’t know how. Tell them what they need to know and hold their hand through the process.

38. Lead Generation Consulting: Sales aren’t always the root of the problem—sometimes, it’s lead generation. Guide a client through how they can build and optimize their lead funnel.

39. Browser Extension Developing: Mobile apps are nice, but sometimes a built-in browser extension is more appropriate.

40. Data Scientist: Know your way around numbers? Businesses have more data than they know what to do with. Help them understand the stories behind the numbers.

41. Quality Assurance Testing: There’s a lot of pressure for apps to be built quickly, but that doesn’t mean quality assurance isn’t a priority. Your job is to break apps so that developers can fix them before they go public.

42. Public Speaking Coaching: Public speaking will likely always be a struggle for a large number of individuals. If you can help executives and would-be presenters overcome their fears and step up to the stage, you’ll have a job in public speaking coaching.

43. Media Training: Don’t put an executive in front of a microphone until they’ve been trained on what to do (and more importantly: what not to do). It’s your job to make sure they don’t screw up.

44. Contract Writing: Know your way around legalese? Help businesses write up contracts.

45. Translating: If you’re bilingual, there’s a good chance you can find gigs for translating the two languages.

46. Dog Walking: Just because more people are working from home doesn’t mean they don’t want a dog walker. Sometimes, they don’t want to leave the house, and other times they can’t with illness or kiddos.

47. Pet Sitting: People want to travel and see the world, but they can’t always bring their furry friend. Keep them company for payment.

Find YOUR Side Hustle Idea (9 Questions of Doom)

3 Good Business Ideas During a Recession

Sketchy economic times require backup plans. With 9 to 5 jobs in flux, starting a business during a recession is a secure way to make side income and take advantage of shifts in the market.

48. Finance Coach: With a tightening economy comes tightening budgets. As a finance coach, you can help families objectively adjust their monthly budgets and offer suggestions on cutting costs to free up cash.

49. Content Creator: Making entertaining and engaging content for platforms like TikTok, Twitch, or YouTube doesn’t seem like a stable idea, but it meets two criteria of a recession-proof business. First, it’s low-cost to start. All you need is a phone, ideas, and your personality. Second, it meets consumers’ demands during tight economic conditions—escapism and low-cost entertainment.

50. Home Repair: No matter what’s happening with S&P 500, pipes will burst, lights will flicker, and furnaces wig out. Starting a home repair business will keep you in demand no matter the economic climate because what can go wrong will go wrong with a house.

Keep Learning: How to Start an Online Business

Bring Your Good Idea to Life

Once you’ve zeroed in on your good business idea, it’s time to make it a reality. However, you need more than just an idea—you need skills and know-how.

That’s where we can help.

We’ve created a huge catalog of courses to teach you everything you need to know to launch and grow your business. Need help running ads? We got you covered. Want to learn how to write compelling copy? Look no further.

Explore our free trainings today and start learning the entrepreneur essentials.

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About Jesse Sumrak

Jesse Sumrak is a writing zealot focused on creating killer content. He’s spent almost a decade writing about startup, marketing, and entrepreneurship topics, having built and sold his own post-apocalyptic fitness bootstrapped business. A writer by day and a peak bagger by night (and early early morning), you can usually find Jesse preparing for the apocalypse on a precipitous peak somewhere in the Rocky Mountains of Colorado.

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These are 2021’s most innovative companies

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Bright ideas are helping companies recover more quickly from the pandemic. Image:  Unsplash/Wilhelm Gunkel

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20 Innovative Business Ideas Doing Well Overseas (That Could Make You Money In SA) These 20 innovative businesses are doing well in their respective markets, but they could also thrive in South Africa.

By Nicole Crampton • Feb 27, 2019

You're reading Entrepreneur South Africa, an international franchise of Entrepreneur Media.

Are you looking for an innovative business idea that already has a track-record, but doesn't currently operate in the South African market. These 20 innovative businesses have proven to be profitable in their markets; why not be the one to introduce something similar to South Africa?

  • Activity bars
  • Startups Anonymous
  • Vegan Meat And Dairy Alternatives
  • Narrative Clip
  • Carbon Green Cards
  • Translation and language platform
  • Healthy vending machines
  • Green/off-grid living
  • Bringing the seasons to South Africa
  • Niche pet services
  • Hangover Helpers
  • Special Needs Dating Site
  • Second-hand Children's Clothing
  • Online Valuation Services
  • "Anger Rooms' to smash stuff with a sledge hammer
  • BreathingRoom
  • Discounted Eating Out

new business ideas in the world

1. TaskRabbit

TaskRabbit is a community marketplace for errands and smaller tasks. Users post a task and say how much they'll pay someone to complete it. Another willing user accepts the task and gets paid for doing it.

Why this is an innovative idea:

TaskRabbit continues to gain momentum in the United States and is creating an on-demand workforce. This app creates jobs and supplemental income. Just like teenagers and students babysit in their free time, people can now run errands in their free time and get paid.

Why this innovative idea should be brought to SA:

There are just not enough hours in the day to do everything needing to be done. What if, while you were at work you could pay someone to run your errands, leaving you more downtime and time to spend with your family?

This app would enable unemployed individuals to earn an income by doing several small tasks every day.

new business ideas in the world

2. MoviePass

MoviePass offers cinema-goers the opportunity to pay a monthly fee to attend as many movies as they want.

This helps consumers to save money while enjoying the latest movies. It also assists cinemas that are having trouble getting people in seats, and earning a percentage of the monthly fee to ensure income is always flowing in.

The innovative platform also collects data on consumers giving the cinema industry more insights into who is visiting their locations.

When prices go up, the entertainment budget is the first to go. By launching this in South Africa you'll enable consumers to continue to go to movies. Cinemas will earn a reduced income, but some income is better than no income.

new business ideas in the world

3. Activity Bars

This growing trend is making big waves across the world. Whether it's a bar, bowling alley combo, or a speakeasy-style gaming parlour, consumers are looking for a more engaging experience on their night out.

The younger generations are looking for an engaging experience they'll never forget, why don't you be the one to offer it to them? Around the world, markets are offering all sorts of innovative new activity bar ideas.

An alternative could be cat cafés, these have been popular in Taiwan and Japan for years, but this concept is steadily spreading around the world. This innovative business idea enables consumers to sip tea while petting the resident cats.

Creating an experience for the growing young adult population can be profitable, if done right. Offer them an activity combined with a bar in an interesting way and become the new hot spot in town. Incorporating an activity into your bar can be a way to revitalise it and ensure consumers stay long after the last round.

new business ideas in the world

4. Startups Anonymous

Like Alcoholics Anonymous, but for start-ups. This is a platform that entrepreneurs can use to anonymously vent frustration and fears, as well as asking questions and getting help.

"I think that people have spent so much time over the past eight years trying to build their ideal image and impress people that anonymity is a welcome relief," says co-founder Dana Severson. "It's the equivalent of taking off your skinny jeans at the end of the day and putting on sweats."

In its first two months the site achieved more than 130 000 unique visitors, and 700 submissions and responses from users, showing that there is a definite demand for this concept within the entrepreneurial space.

Emphasis is placed on the entrepreneurial space to increase economic growth and create jobs. However, guidance and answers without judgement can assist the industry in launching, building and growing new businesses.

new business ideas in the world

5. Vegan Meat And Dairy Alternatives

Have you noticed the surge in veganism lately? This is a unique market with potential for imitation products. If you can develop vegan cheese and meat alternatives that taste great and work well in cooking, you could be successful. You'll need to develop vegan cheese that melts properly, vegan burgers with a juicy bite, or vegan milk that doesn't curdle in coffee.

JUST a San Francisco-based company has developed a formulation for its egg-like "Beyond Eggs'. Not only can manufacturers use this alternative for a cost of 18% less than real eggs, but it will help to alleviate the environmental challenges associated with chicken-egg production. This innovative food-tech company has attracted some high-profile supporters, including Bill Gates.

JUST already sells its mayonnaise made from pea protein in Whole Foods Market stores and is currently in talks to expand. They have plans to create scrambled-egg and cookie dough next.

South Africa has a growing vegetarian and vegan community who could purchase your imitation products if they were good quality and offered more alternative options. You may even export them to other markets as the demand for vegan-friendly meals continues to grow internationally.

new business ideas in the world

6. Narrative Clip

Narrative Clip is an innovative business that offers it's users the ability to remember every little interaction they've ever had. They do this by using a small camera that clips to the front of your shirt and snaps two images a minute all day long. This concept makes it possible for users to replay moments they've shared with loved ones, even years later.

The Narrative Clip can hold 4 000 photos and maintains a charge for two days. It raised USD550 000 on Kickstarted when it initially launched, and it has expanded into 50 countries, showing that there is definitely a demand and interest in the product.

Narrative Clips co-founder Oskar Kalmaru says that they don't have a specific demographic, but they see the product used most by people who tend to take a lot of photos, such as travellers and parents.

"You can capture your moments effortlessly without interrupting them with technology, you can use compatible apps which will organise your photos nicely for you," says Kalmaru.

new business ideas in the world

7. Carbon Green Cards

Gwangju, South Korea is an innovator when it comes to carbon emissions reduction. Residents are issued "carbon green cards" that track their energy use with sensors.

Households that participate can redeem the cards for rewards including:

  • Discounts on household goods.
  • Admissions at national parks.

This initiative currently relies on financial incentives to alter consumer behaviour, but officials emphasise that citizens are also motivated by a desire to help their community and the environment.

South Africa is currently undergoing an environmental transformation as retailers reduce their one-use plastics and businesses implement strategies to reduce their impact on the environment. This initiative would be supported by many businesses and individuals alike, wanting to contribute to reduced carbon emissions.

new business ideas in the world

Electric bicycles are growing in popularity across the world as people try to reduce their reliance on cars. E-bike sales are expected to reach 50 million units in 2018.

"Our goal at Riide is to replace car ownership with electric bikes for short commutes," explains co-founder, Amber Wason.

"In 2012, when I met my co-founder, there were 200 million e-bikes on the roads in China – with more being sold than cars. We found this out and were taken aback, it was an emerging technology trend in the US but not one that was being talked about – there was a gap in the market," she explains.

People are looking for travel alternatives that are reliable and won't cost them a fortune. If you consider how many hills there are in South Africa an e-bike would be a much better option for many people than the traditional bicycle. You could sell e-bikes and kits to "electrify' traditional bicycles.

new business ideas in the world

9. Translation and language platform

If you've ever used Google translate to translate a South African language you'll know there's definitely room for improvement. Cross-lingual communication has generated an opportunity for translators of all kinds.

The need for and hiring of translators is projected to grow by 46% over the next 15 years as the world becomes more connected.

Who better to have a translating app or platform that translates South African languages, than a South African? If you have a gift for languages, or you can launch a business that brings together the expertise of various foreign-language speakers, you can create a successful business.

new business ideas in the world

10. Healthy vending machines

This health food trend is growing across the world as corporations attempt to give their employees a healthy, convenient option.

The healthy vending machine business has grown to USD42 billion, but for significantly less you can own a single machine or a franchise that supports corporations all over the city. This is also, for the most part, a form of passive income, which is important to have when building wealth.

Healthy vending machines are an easy way for companies to help their staff stay healthy without it costing them a fortune. A growing percentage of South Africans are trying to be healthy and increasing the amount of effort they put into caring for their health, which gives this business idea a growing demand.

new business ideas in the world

11. Green/off-grid living

Building materials that reduce pollution and waste are gaining momentum as everyone looks to be more environmentally conscious. People all over the world are turning to options such as: Green living, off-grid living, shipping containers and tiny homes.

Off-grid living has increased in popularity in recent years, with a rising interest in energy efficient products contributing to growth within the sector. Sustainable building materials currently amount to a USD36.1 billion industry and is expected to grow 10.6% annually until 2020.

BioMason is an innovative start-up that developed construction bricks without using heat, and The Daily Prep provides courses on alternative energy/off-grid living.

As South Africans attempt to reduce water and electricity costs they will look to alternatives such as green and off-grid living. There is also a growing emphasis on sustainable building practices and energy efficient buildings throughout the country. You could capitalise on this.

new business ideas in the world

12. Bringing the seasons to South Africa

In 2015, Kyle Waring launched his innovative business called Ship Snow, Yo! This is a Boston-based business that sends snow anywhere in the US. They even supply a ready-made snowman.

In its first 48 hours of operation it received 135 orders, and according to Waring the business generates a five-figure turnover. "Last year, for Christmas, we delivered a "White Christmas' to over 80 homes in Florida, Arizona, Texas, California and even New York City," says Waring.

They have launched a sister venture, ShipFoliage.com, that sends New England leaves around the world for those who want to play in Autumn leaves all year round.

South Africa hardly sees snow except in a few key places once or twice a year. You could offer a taste of all the fun that comes with a colder climate and none of the challenges. Authentic season themed events could grow your customer base and increase your profits.

new business ideas in the world

13. Niche pet services

The pet industry continues to go from strength-to-strength. By 2019, it's expected to hit USD92 billion, and innovative start-ups across the world are offering niche products to capture a piece of that growing market.

Bird Tricks teaches customers how to train their parrots. Their revenue comes from in-person and online courses, bird equipment, and bird food. Susan Garrett at Dog Agility teaches agility training for dogs. She makes the majority of her profits through in-person workshops and courses.

ToiletTrainedCat trains cats to use the toilet and generates a large profit via their training system books and DVDs, which people around the world can buy online.

South Africans love their pets just as much as any other nation. Create your own niche products, which you can offer in-person or online. Develop training manuals, videos or offer a continuous stream of helpful tips that people can pay to subscribe to.

new business ideas in the world

14. Hangover Helpers

Here's the situation: You and your friends were up all-night having a great time. Now, you're suffering from a hangover, you're dehydrated, and your home is a mess. The thought of having to make yourself something to eat and then clean up that colossal mess is just too much to handle. That's where this innovative business idea comes in.

Two college guys from Colorado came up with this innovative business idea. They help their hungover clients by offering breakfast and cleaning up the mess left behind by last nights frivolities. Their service includes washing dishes and collecting all bottles and rubbish.

If you think this idea is just too crazy to actually work, these entrepreneurs have been featured in Forbes Magazine and have had multiple TV appearances. They also have a branch in Australia with the idea continuing to catch on around the world.

Students and adults alike can get carried away and are happy to pay for someone else to clean-up the mess the next morning, South Africa is no different. All you need is a quick breakfast option and a cleaning crew to minimise the damage from the festivities the night before, and you'll have enough clients to keep you busy and profitable.

new business ideas in the world

15. Special Needs Dating Site

As people with special needs and mental disabilities grow older they may find it challenging to meet people in their age group and ability level. Numerous special needs dating sites exist around the world offering dating and companionship to help these people to find friends and romantic partners with the same type of special needs.

The romantic aspect of life for people with special needs can be overlooked. Adults of every ability level have the desire to love and be loved, to make friends and seek companionship. Michael Robbins and Lauren Ellis created Special Bridge to help support the special needs community. They found when conducting research that there was virtually no sites dedicated to special needs dating for people to meet like-minded people.

In South Africa this community deserves to find love and happiness, why shouldn't you be the one to develop a meeting place for them?

new business ideas in the world

16. Second-hand Children’s Clothing

You can collect and sell like-new second-hand children's clothing to parents who can't really afford to constantly be replacing their child's entire wardrobe every few months when they grow out of new clothes.

In 2014, an online store, called Changeroo , launched to sell used, like-new children's clothing. "We provide high quality, top name brand clothing at low prices as an alternative to buying cheaply made "fast-fashion'. We sell our clothing at 75% off the new ticket price and offer store credits in exchange for pre-loved children's clothing in perfect condition. Items that do not meet the stipulated quality standards are donated to charity," says founder Liane Guimond.

Children outgrow their clothing so quickly, especially when they're young. You can offer a solution by accepting clothing in exchange for store credits to shop for a new wardrobe. This will save parents the cost of having to buy a whole new wardrobe for their children every few months.

new business ideas in the world

17. Online Valuation Services

Offer an online art, antique and collectibles valuation service to people across the country. Launching an online valuation service means you will not need to invest in a customer facing team or offices as everyone conducts their valuations online.

ValueMyStuff provides online valuation services to customers, who pay a flat fee of GBP7.50 per item. Within 48 hours of the request one of 60 experts provide an online valuation report. Since its launch, ValueMyStuff has facilitated over 100 000 valuations to more than 52 000 customers with a total estimate value of GBP102 million.

You can evaluate customers items from all over the country by using this online concept. This will be more convenient for customers and ensure you increase your volume of valuations. This opportunity is profitable and currently doesn't exist in South Africa.

new business ideas in the world

18. ‘Anger Rooms’ to smash stuff with a sledge hammer

Unless you're a Rockstar from the 80's and 90's it's probably not the best idea to break things when you're upset, either at home, at work or in a hotel room. But the temptation is there, destroying things is strangely therapeutic. What if people paid you to smash things? Now they can.

The concept began in Japan before expanding to the US and then Poland . These Anger Rooms supply their customers with numerous implements of destruction such as sledge hammers, and then let them loose for a specific amount of time determined by their price of admission.

You can open a space for South Africans to vent their frustration by punching, pummelling or completely destroying whatever's in the room with whatever they can get their hands on.

In Poland, the going rate is R550 for 30 minutes of venting and destruction.

new business ideas in the world

19. BreathingRoom

BreathingRoom offers on-demand hourly workspaces to professionals and travelling business people for meetings and conferences. Rooms can be booked via the app even 15 minutes prior to the meetings.

Started by two ex-Amazonians Kaushal Sanghavi and Jacky Chow; they had no idea this business idea would attract customers under the most peculiar situations. A hearing at the Bombay High Court was delayed by three hours and some professionals booked one of the breathing rooms to use the bathroom and to catch-up on work. Sanghavi is also rolling out OpenSpaces in bars, restaurants and cafes, from which users can work for free when they're less busy.

This business ideas offers you the opportunity to use un-utilised or under-utilised commercial spaces across the country at an affordable cost. You can offer a subscription model to keep money coming in and allow your customer-base easy access no matter where they are.

new business ideas in the world

20. Discounted Eating Out

Delhi-based Kartik Saboo launched an online food discount venture, Khaugalideals.com , that restaurants can subscribe to and can target advertising to people in specific areas.

This venture gives people discounts of up to 70% in restaurants, bars, and even ice-cream parlours throughout India. Saboo approached restaurant owners to explain how his website worked. To put up a discount offer on the site, an F&B outlet had to pay a one-time registration fee of R300. Saboo currently earns around R120 000 a month from this online venture.

South Africans are feeling the pinch as prices go up. Why not offer them a way to reduce the cost of going out and enjoying eating out. This will also benefit the restaurants who will have some income as opposed to no income.

Entrepreneur Staff

Sales Enablement - Content Developer

Nicole Crampton is an SEO specialist who contributes to Entrepreneur.com/za. She has studied a BA Journalism at Monash South Africa and has continued her studies with a Creative Writing degree from UNISA. Nicole has completed several courses in writing and online marketing, and continues to hone her skills and expertise in digital media, digital marketing and content creation.

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  • Startup Ideas

21 New Future Business Ideas 2023-2030 You Need to Know

Do you want to start a profitable startup and looking for new business ideas for the future businesses that will boom in 2023? If yes, here are some best future business ideas 2023-2030 you may like to read.

Every year, entrepreneurs start millions of small businesses around the world . But do you know that 8 out of every 10 small businesses get failed and shutdowns? There might be several reasons behind the startup failures such as shortage of funds or having no competitive advantages.

But the thing is we often ignore the latest trends while starting a business. We do not develop any futuristic approach and that’s why we get failed and become serial entrepreneurs.

If you really want to start a sustainable and profitable business in the future, you will have to explore the current and future business trends for the next 10 years. You will have to analyze the problems of the people; they are facing right now or will face in the future. You will have to come up with unique and affordable solutions that will solve these problems of the people.

Developing a futuristic approach is not rocket science. All you need is to check out the latest business trends and keep your eyes on declining industries as well as on the fastest-growing occupations. You will get a clear idea.

Top 21 Future Business Ideas For Entrepreneurs

In a recently published report, World Economic Forum portrayed the demographics of future work. Considering the pandemic situation and other factors, e.g., the advancements in technology, this report depicts the most suitable future business ideas.

To help you succeed, here is the list of best future business ideas 2023-2030 which you can pursue with little too high investment.

1. Outsourcing Business

business tasks of small enterprises you should outsource

According to the WEF report, working environments will be changed in the future. The outsourcing business will boom in 2023.

Forbes revealed that 50% of Americans are working independently or making money from their own small businesses in the USA . The same trends can be seen in Australia , Canada , and the UK. But the worst thing is that if they hire native employees, they cannot make good profits due to the high operating expenses.

In order to reduce their startup expenses and maximize profits , the businesses are outsourcing their projects to the people of developing countries, where operational and manufacturing costs are relatively low. China and India are good examples for us.

At the same time, people from developing countries especially from Pakistan, India, China and the Philippines, are making good money from a freelance business . These people are offering their virtual services online and growing their businesses day by day. It can be content creating, online photo manipulation services or even customer services.

For instance: Companies often outsource their call center services to developing countries especially in India. Today, India is supposed to be a hub of the call center industry.  It means that freelancing is also becoming one of the best future business ideas in India.

Either you start an outsourcing business or freelance business, experts say that this is one of the best future business ideas you can pursue with no to little investment.  The basic things you will need to start a business are an internet connection and specific skills.

Related: 25 Best Freelance Websites To Find Online Jobs

2. Future Business Ideas For the Internet of Things (IoT) Industry

Internet of Things means every object which is being used by humans, have internet connectivity in order to send and receive data.

Mckinsey Global Institute has estimated that this industry has the potential to generate $4 Trillion to $11 Trillion in value worldwide by 2025. Believe it or not, it is one of the best future internet business ideas for upcoming years.

From the last few years, we have seen a rapid advancement in the technological sector , especially on the smartphone side. For instance, if you want to go to the office, use UBER or Lyft (a taxi service) to get an instant ride.

If you want to check the upcoming weather conditions, then there are some mobile applications through which you can check the weather conditions and take appropriate measures. Some other examples are wearable fitness devices and smart thermostats apps. In short, people are using the latest tech gadgets for their own convenience and comfort.

If you are a developer or a programmer, think about future invention ideas and make new smartphone applications that will help people in their routine lives.

Technology has also paved the way for new business models to revolutionize the way we work. Models such as e-commerce have totally changed the way we search and purchase products. And companies such as Amazon have proven the power of building an online store for shipping physical goods. Online training programmes such as Amazing Selling Machine even show people how to start and grow their very own profitable e-commerce business. The future of business is exciting!

3. 3D Printing Future Business Ideas

The 3D printing business is becoming one of the most profitable new business ideas nowadays. In the last few years, it is getting famous in all around the world because it has revolutionized the prototype manufacturing business.

Due to its popularity, the demand for 3D printers is on the horizon. Look at the following picture. You can get an idea about how much 3D printer sales have been seen in last year.

Initially, the 3D printers were highly expensive and not affordable for several entrepreneurs. As time passed, the prices gradually get decreased but still, these printers are not affordable for many people.

In the list of top 10 new business ideas , starting a 3D printing business will be a profitable future business idea. So, if you want to start your own 3D printing business, there are several 3D printing business ideas and opportunities you can avail yourself of with a little too high investment.

Currently, the prices of 3D printers start from $2000 to $15000. The prices basically depend upon the specifications and features of the 3D printers. If you want to purchase a 3D printer with good features then the price will be high.

All you need is to do is to purchase this equipment, set up a shop and start advertising your business to get high-paying clients.

4. Rise of Co-Working Spaces

The trends of future offices are going to change. Due to the high rental expenses, it is difficult for small businesses to afford a separate office. Today, people love to work in co-working spaces . It will not only help them to reduce their rental expenses but also help them to share expertise and skills with each other.

If you have a free space, then starting a Co-Working Space business will be a new business idea 2017 you can start with low investment.

Related: Can’t Afford An Office? Try Shared Office

5. Future Business Ideas For Real Estate Sector

Due to the high rapid urbanization, every year hundreds of thousands of people migrate to cities. There are several reasons behind this migration such as to find jobs or to improve their living standards. Due to this trend, the need for affordable houses will rise.

In fact, it is a great opportunity for the real estate industry, brokers and construction companies to offer their services to people and make commissions. Starting a real estate agency will be a lucrative business idea for the future. If you want to start this business, you should have relevant experience and governmental license to operate in your area.

Related: 10 Steps to Ace Commercial Property Investment

6. Consumer Goods and Services Business

Experts say that the middle-class population will rise up to 3 billion by 2030. The countries where the middle-class population is increasing day by day are known as emerging markets.

With the rapid expansion of the middle class, the consumption of goods and services has been raised. It is a good opportunity for those who want to start a goods and services business.

There are several new business ideas you can transform into a real startup such as starting a chain Store, import and export of goods on a small scale and much more.

7. Healthcare Industry

According to Fortune , the healthcare industry will also grow in the future. Preventive medicines will increase rapidly, while the general healthcare practices will be replaced by personal healthcare practices.

On the other hand, the Labor department of the United States revealed that 10 out of every 20 fastest growing occupations are related to the healthcare sector.

These trends are due to the rapid expansion of the population. In fact, these trends will impact on the future healthcare industry. If you want to jump into this industry, you will surely enjoy a high return on your investment.

Read Also: 25+ Profitable Healthcare Business Ideas for Aspiring Entrepreneurs

8. Starting a Consultancy Business

In the list of top 10 new business ideas, consultancy business is a good opportunity for professionals and experts in the future. In upcoming years, the consultancy business will boom because of several factors.

Some are positive while some are negative such as increasing unemployment issues worldwide, high inflationary rates or the rise of entrepreneurial trends. You can help people in order to resolve their problems. You can start different kinds of consultancy business such as

  • Educational Consultant Agency
  • Recruitment Firm
  • Career Consultancy firm
  • Customer Consultancy etc.

9. Collaborative Economy Business

It is predicted that businesses that are based on collaborative economy models will enjoy immense success in the next few years.

Some good examples are Airbnb, UBER, and LYFT. These types of businesses not only help the final customers but also assist the service providers and ultimately, they make commissions.

This type of business needs good business planning and investment.

10. Renewable Clean Energy Supplies

No doubt, the world has advanced ever than before. But still, we are facing lots of issues right now. In all of them, energy is a big problem in many countries, especially for emerging markets.

To generate energy, some Asian countries are still relying on traditional sources of energy such as hydro, nuclear and coal power plants. Energy generation from these sources are supposed to be hazardous to our environment (Experts say).

But on the other hand, scientists are emphasizing on the renewable energy sources through which the environment can be saved. It is a great opportunity for those who want to start a business on a medium scale.

There are numbers of green business ideas you can think about. Select the right startup idea that requires minimal investment and experience and start your business today.

11. Health and Fitness Tech Industry

Maintaining your fitness to a healthy level is a dream for many. Joining clubs and gyms and visiting them on daily basis becomes tiring and mostly is discontinued after a while.

That is why virtual fitness training with various apps and equipment is becoming in. People opt for virtual training sessions over regular gym training.

If you are looking for a business to invest in, health and fitness technology will surely multiply your riches.

12. 3D Laser Scanning Services

3D laser scanning is a new field that is growing and blooming day by day. It allows us to get much complicated tasks done with little to no complexity.

The invisible laser beam measures the dimensions of the object and helps the customer in various tasks by providing 360 videos and 3D images.

3D laser scanning provides services in various business sectors, e.g., real estate, construction, map making, as-built surveys, 3D/2D manufacturing, etc.

The present estimated size of the 3D scanning industry according to the global viewer research is 5.4 billion USD in 2020 which is expected to incline to a total of 8 billion USD by 2025 with a CAGR of 8.4%.

13. Online Therapy

Therapy is something that is dearly needed in the presently tensed social and work environment. But unfortunately, social stigmas and busy work routines do not allow people to consult a therapist by visiting his clinic.

Online therapy is a game-changer in this respect. Therapy through skype calls, phone calls, texting, e-mailing, etc. is turning into a real thing. People feel easy and light-weighted by sharing their sorrows with someone who can console them and help them to work on their mental strengths.

Investing in online therapy businesses, e.g., opening online platforms, such as websites, social media handles, etc. are some ways to attract the audience.

The market value of the online mental health market grew at a CAGR of 22.5% from 2016-2023 and is expected to grow even at a larger rate in the future.

14. VR Technology Business

Virtual Reality is a huge business sector. It is connected with other various business sectors. VR technology in the future will assist teachers, manufacturers, tourists, engineers, healthcare workers, and many more professionals in their respective fields.

This technology provides an almost real representation of virtually constructed scenarios, buildings, and other things. Investors are advised to invest their riches in this field to get a profitable outcome in the near future.

The virtual reality market size was at 10.32 billion USD in 2019 and is expected to grow with a CAGR of 21.6% until 2027.

15. Electrical Cars and Electrical Charging Stations

The expected exhaustion of fossil fuels will need humans to find out a new energy source for various purposes, especially for running our cars. Electricity is thought to be a great alternative. Not only it can overcome the deficiency but also will be a pollution-free solution.

Many car companies have started their struggle of constructing a successful electric car. Besides electric cars, their charging will require charging stations instead of the presently available fuel or gas stations. Investors can invest their riches in electric car construction for now and in the future can invest in charging stations.

16. Cyber Security Industry

With the increased usage of the internet and computer technology in various sectors, criminals are getting into this business too. Stealing content and other useful information, cyberbullying and many other crimes are being evolved and are spreading rapidly.

To stop this crime rate, companies and governments make their own cybersecurity wings that protect their information from cybercriminals.

The global size of the cybersecurity market is $152.21 billion which will increase with a CAGR of 11.02% until 2023 to a total of $208.28 billion.

17. Home Solar Energy Setup Business

Solar Systems are the most effective energy production solutions. Running a whole house electrical production by installing solar panels is being practiced in various regions in the world. This practice is expected to become a common household in the near future.

Also, be careful about legal perspectives, licensing, registering, etc.

Opening a solar energy setup business will prove to be highly profitable. You can open your own home solar energy setup business with high to low investments.

18. Virtual Doctors/ Medical Apps

With the advancement of IT and AI and also due to the present pandemic situation, virtual services are becoming a big thing. People are preferring virtual services over physical ones. Similarly, providing virtual medical services is a great idea.

Investors and developers are developing medical apps where doctors provide their services and patients use these services. Besides doctors, there are apps where you can find pharmaceuticals and get them delivered to your doorstep.

Due to the convenience that they provide, these apps and services are rapidly gaining popularity and are expected to take over a large part of physical healthcare services.

According to BusinessWire , the virtual healthcare delivery market was estimated to be around $21 billion dollars in 2016, which is expected to grow to a total of $95 billion by 2026.

19. Online Gaming

Online gaming is surely a very much lucrative business option. Also, online betting and other gaming sites are earning a handsome deal of money by properly utilizing the advantage.

You will have to work on various perspectives to run a successful online gaming business. But if you efficiently manage all that, you can surely get your hands into something highly-profitable and beneficial.

The gaming business being online won’t require much investment. If you can develop a game by all yourself, it would save even more of your investment. However, if you are a mere investor, you can still run an online gaming business with a little too high investment.

20. Manufacturing of Artificial Body Parts

The merging of biological sciences and engineer had emerged many new business sectors. The manufacturing of artificial body parts is one of such most amazing sectors.

Finding a solution for the birth disabilities and others that occur during life due to some accident has been one of the prime focuses of doctors and researchers. The merging of engineering with medical sciences evolved a very efficient solution for this problem.

Being an investor, you can invest your riches in this business. However, being either an engineer or a medical professional will surely help you out in your business.

21. Vertical Farming

The human population is increasing at a very fast pace. This increased population is being forced into the farming lands occupying a major portion of the fertile land. Although the larger population requires more food, it is limiting our resources of food production.

This imbalance in food production and consumption needs to be resolved for the survival of the human race. Vertical Farming provides a very efficient solution to this problem. It is the utilization of farming techniques, i.e., hydroponic, aeroponic, aquaponics, in vertically arranged soil layers in an agriculturally altered environment.

Investing your money in vertical farming might prove highly beneficial for you, in the near future. This business proves to be more profitable than greenhouse agriculture because of denser products.

Some Other Future Business Ideas

Following are some of the more business ideas that you can adopt in the future to earn a good profit within 2023-2030.

22. Food Vending 23. Veteranians 24. DNA Design Firms 25. Holographic Theatres 26. Ghost Kitchens 27. Cryobank and Stem Cell

Are You Ready For Fourth Industrial Revolution? 

According to many experts, the world is moving toward the fourth industrial revolution ( industry 4.0 ). The fourth revolution will be composed of biological, digital and physical spheres. In easy words, it will be cyber-physical systems.

Large multinational companies are investing a huge amount in Nano Technology, Bio Technology, Genetics, Al and machine learning, the internet of things and 3D printing. They are investing because they know they can avail good opportunities in the future.

Lastly, it is hard for anyone to predict future business ideas and trends. But if you analyze the previously available data and current trends, you can easily imagine the future trends and develop new business ideas for the future accordingly. Best of Luck!

You May Like To Read:

  • 10 Best Jobs for the Future
  • 10 Most Profitable Business Ideas
  • 101+ New Business Ideas for Entrepreneurs


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new business ideas in the world

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new business ideas in the world

Cleaning up the oceans rivals climate change as a global problem

Constellations of satellites increase space junk risk

new business ideas in the world

Systems needed to manage up to 750,000 potentially dangerous objects in orbit

Satellites, lasers and bots track global carbon

new business ideas in the world

Technology improves understanding of forests’ and oceans’ role in climate change

Phones or AI to modernise early disaster warnings

new business ideas in the world

Networks of sensors can predict earthquakes with greater precision

Deep sea trenches eyed for carbon storage

new business ideas in the world

Ocean ravines offer space and lower costs for projects to mitigate climate change

New membrane provides drinking water and lithium

new business ideas in the world

Metal-organic frameworks allow precision filtering with less energy

Asteroids to be refuelling stations in space

new business ideas in the world

Minerals, metals and water on planetoids could support missions into the solar system

new business ideas in the world

Search for life beyond Earth intensifies

Space signal detection project and astrobiology boost hunt for extraterrestrials

Nanobots used to kill off cancerous tumours

new business ideas in the world

Researchers inject tiny devices into the bloodstream to deliver drugs with precision

Crispr gene editing ready for testing in humans

new business ideas in the world

Biotech companies plan to use the technique to treat blood diseases and blindness

DNA sequencing unlocks secrets of rare diseases

Dame Sally Davies

Routine genetic testing would save healthcare system money, says UK medical chief

DNA tests personalise mental health treatment

new business ideas in the world

Precision psychiatry studies genes to see which treatments work best for individuals

Brain implants allow patients to move robotic arms

Bill Kochevar

Prosthetics controlled by human thought via computer show promise in clinical trials

Cheap tests needed to stop antibiotic resistance

new business ideas in the world

Rapid detection would reduce unnecessary use and make drugs effective for longer

Liver success holds promise of 3D organ printing

new business ideas in the world

Small ‘organoids’ grown in the lab could be used to treat chronic conditions

Smartphones speed recovery of surgical wounds

new business ideas in the world

Apps alert doctors to infections and help them keep an eye on the healing process

Immunotherapy: beyond melanoma and lung cancer

new business ideas in the world

Scientists are seeking combination drugs that would make for more effective treatments

new business ideas in the world

Exoskeletons to become common for factory workers

FT’s west coast editor Richard Waters tries on ‘Iron Man’ wearable robot

Skills and Education

How dna could store all the world’s data.

GERMANY - NOVEMBER 01:  BERLIN  Photo of Miles DAVIS, performing live onstage  (Photo by David Redfern/Redferns)

Scientists see capacious and stable medium as potential answer to mountains of information

Wearable scanners will be able to read our minds

Pair of false-colour Magnetic Resonance Images (MRI) of mid-sagittal sections through the head of a normal 42 year-old woman, arranged face-to-face. Profiled features of the main part of the brain include the convoluted surface of the cerebral cortex & the corpus callosum, the curved band of nervous tissue at the centre of the brain (blue on right image) that connects the two cerebral hemispheres. Beneath the corpus callosum are the pons & medulla, the structures of the brainstem, which are continuous with the spinal cord (gold, both images). The cerebellum, the centre of balance & coordination, appears to the rear of the brainstem. Left image: P332/130, Right image: P332/140

Tiny pixel sizes, light analysis and blood flow maps mark big advance on MRI machines

Early quantum computing investors see benefits

new business ideas in the world

Tech revolution’s promise ranges from online encryption to modelling new molecules

Holograms change the way we interact with computers

new business ideas in the world

3D images that can be manipulated with hand gestures blur the digital and real world

Why sleeping more will help the national economy

LOS ANGELES ,CA AUGUST 18, 2015: Students line-up for their buses at a district bus stop next to  Jefferson High School in Los Angeles on the first day of classes August 18, 2015. The buses transport the students to middle schools and other high schools in the area  (Photo by Mark Boster / Los Angeles Times via Getty Images)

A new understanding of circadian rythyms is helping combat the silent sleep-loss epidemic

Why we are in danger of overestimating AI

A man walks through the Watson Premier display to learn about IBM Watson at CES in Las Vegas, Nevada, January 9, 2018. / AFP PHOTO / DAVID MCNEW (Photo credit should read DAVID MCNEW/AFP/Getty Images)

Data-heavy computers have ways to go to catch up with human thought and common sense

Personalised learning takes over in classrooms

new business ideas in the world

Silicon Valley loves the idea but evidence is mixed on whether all children benefit

Neural networks allow us to ‘read faces’

Woman in grid/checker light

Facial analysis software is being used to predict sexuality and security risks

Digital distractions are making us dumb and twitchy

new business ideas in the world

Glimmers of hope in search for means to conquer information overload

new business ideas in the world

Classroom robots stand in for children

Avatar enables pupil to watch and participate in lessons from home via a tablet

Energy and Resources

Europe’s landfill sites potentially worth a fortune.

A worker and backhoe loader tractors move garbages and rubbish on a landfill site on September 1, 2015, at Propriano on the French Mediterranean island of Corsica. The island is already drowning under waste and the problem is aggravated by the influx of millions of tourists in summer. AFP PHOTO / PASCAL POCHARD-CASABIANCA TO GO WITH AFP STORY BY PIERRE LANFRANCHI (Photo credit should read PASCAL POCHARD CASABIANCA/AFP/Getty Images)

Waste can now be mined for metals and to create fuel

Biomimicry unleashes wave of materials innovation

Bolt Threads spider silk woven hat

Artificial retinas and synthetic spider silk are among the lab breakthroughs

Machines that get their energy from thin air

F1AEH4 Piezoelectric Buzzer and Sensor with Lead Wire.

Wake-up receivers, energy-harvesting offer electricity for billions of ‘smart’ things

Alternative to silicon offers cheaper solar power

A worker inspects photovoltaic solar panels in an array at the Senergy Santhiou Mekhe PV solar plant in Thies, Senegal, on Monday, Oct. 16, 2017. The electricity produced at the 30 megawatt site, West Africa's largest to date, will be bought by the Senegal National Electricity Company (SENELEC) and injected into the national network. Photographer: Xaume Olleros/Bloomberg

Scientists believe perovskite cells would get costs down to pennies per watt

Advances that make wind a better power source

An employee checks a cable on the nacelle of a Vestas A/S V136 wind turbine during operational testing at the Danish National Test Center for Large Wind Turbines in Osterild, Denmark, on Monday, April 18, 2016. "The doubling of turbine size this decade will allow wind farms in 2020 to use half the number of turbines compared to 2010," said Tom Harries, an industry analyst at Bloomberg New Energy Finance. Photographer: Chris Ratcliffe/Bloomberg

New designs means turbines can be installed in more places and at lower cost

Superconductivity takes small steps forward

GOIANIA, GOIAS STATE, BRAZIL - 2016/09/22: Patient in medical MRI scanner, magnetic resonance imaging, a medical imaging technique used in radiology to image the anatomy and the physiological processes of the body in both health and disease - MRI scanners use strong magnetic fields, radio waves, and field gradients to form images of the body. (Photo by Ricardo Funari/Brazil Photos/LightRocket via Getty Images)

Hydrogen and graphene show promise for zero electrical resistance at room temperature

Beyond lithium — the search for a better battery

new business ideas in the world

Graphene and salt water offer promising advances

Graphene filters change economics of clean water

Graphene membranes can be used for desalination, filtering out pollutants from drinking water.

Tight mesh removes chemicals, solutes, salts and compounds such as pesticides

Orkney shows potential of hydrogen fuel

Scotrenewables' prototype tidal energy converter - the SR2000 was used for the conversion of tidal energy to hydrogen gas

The gas may be best option for heavy transport such as trucks, ships and trains

new business ideas in the world

Rich harvest from ocean as seaweed yields biofuel bonus

There is growing interest in exploring whether kelp could be used as an efficient new source of renewable energy. Maija Palmer visits a processing facility in the UK to investigate

Population Growth

Artificial sperm and wombs offer post-ivf promise.

11-week-old mice created using eggs grown from stem cells

Scientists produce mice pups from synthetic sperm and eggs — and grow lambs in biobags

Universal basic income: 500-year-old idea returns

A view along Merisatama port and promenade towards the prestigious Merikatu Street in Helsinki. (Photo by: Loop Images/UIG via Getty Images)

Finland, California, Canada and Netherlands are among the countries staging trials

Six Japanese care robots to watch

TOKYO, JAPAN - JANUARY 18:  A booth attendant holds a RayTron Inc. Chapit communication robot at the Robodex (Robot Development & Application Expo) trade show on January 18, 2017 in Tokyo, Japan. Approximately 160 exhibitors participated in the trade show which covers development technology of robots through to the application of robots.   (Photo by Tomohiro Ohsumi/Getty Images)

Machines take the strain of careworkers’ mundane jobs

Hyperloop work begins before business case made

A Hyperloop tube is displayed during the first test of the propulsion system at the Hyperloop One Test and Safety site on May 11, 2016 in Las Vegas, Nevada. Hyperloop One stages the first public demonstration of a key component of the startup's futuristic rail transit concept that could one day ferry passengers at near supersonic speeds. / AFP / John GURZINSKI (Photo credit should read JOHN GURZINSKI/AFP/Getty Images)

Rivals vie to be first to put in place a new system, but technology is unproven

Lessons on road congestion from Oregon

Vehicles sit in rush hour traffic on the Interstate 405 freeway through the Sepulveda pass in this aerial photograph taken over Los Angeles, California, U.S., on Friday, July 10, 2015. The greater Los Angeles region routinely tops the list for annual traffic statistics of metropolitan areas for such measures as total congestion delays and congestion delays per peak-period traveler. Photographer: Patrick T. Fallon/Bloomberg

US state leads the way with dongle that charges drivers by the mile

A new toilet for areas without running water

COX'S BAZAR, BANGLADESH - SEPTEMBER 19: Refugees cross a flooded bridge in the Balukhali Rohingya refugee camp on September 19, 2017 in Cox's Bazar, Bangladesh. Over 400,000 Rohingya refugees have fled into Bangladesh since late August during the outbreak of violence in the Rakhine state as Myanmar's de facto leader Aung San Suu Kyi broke her silence on the Rohingya crisis on Tuesday and defended the security forces while criticism on her handling of the Rohingya crisis grows. Recent satellite images released by Amnesty International provided evidence that security forces were trying to push the minority Muslim group out of the country. (Photo by Allison Joyce/Getty Images)

2.3bn people lack access to safe sanitation and women face additional risks

Six ways to increase uptake of family planning

TAIZHOU, CHINA - NOVEMBER 17: (CHINA OUT) People pass a poster printed with babaies' faces on November 17, 2013 in Taizhou, Zhejiang Province of China. China has decided to abandon its 35-year-old one-child policy, allowing all couples to have two children, the Communist Party of China (CPC) announced after a key meeting on Thursday.  (Photo by VCG/VCG via Getty Images)

New, long-acting contraceptives, mobile services and incentives make programmes more effective

Near-perfect machine translation is almost here

MyManuClick translation earphones

Companies such as Unbabel and Mymanu are helping us understand each other

Precision farming to feed the world the green way

B4KMTN aerial above Gallo wine storage containers Modesto, California

Technology offers agriculture higher yields and reduced gas from cows

new business ideas in the world

Creating a veggie burger that tastes just like meat

Western-style meat-rich diets will not be sustainable in 2050 when the world’s population reaches 9bn, so the search is on for alternative sources of protein.

How it all began…

Searching for the 50 ideas.

new business ideas in the world

The FT looked to find the new ideas that will shape our world in the future

Readers’ response to the call for suggestions

new business ideas in the world

From roads paved with energy-generating crystals to molecular modelling

How companies draw on science fiction

Illustration from the box of a science fiction-related children's toy. (Photo by Buyenlarge/Getty Images)

Volkswagen, Hersheys and Capital One are among the companies hiring futurists

BERHEIM, GERMANY - NOVEMBER 13: Steam rises from the Niederaussem coal-fired power plant operated by German utility RWE, which stands near open-pit coal mines that feed it with coal, on November 13, 2017 near Bergheim, Germany. The COP 23 United Nations Climate Change Conference is taking place in Bonn, about 60km from the Niederaussem plant. The nearby Rhineland coal fields are the biggest source of coal in western Germany and the power plants in the region that they supply emit massive amounts of CO2. (Photo by Lukas Schulze/Getty Images)

Small ‘organoids’ grown in the lab could be used to treat chronic conditions 

new business ideas in the world

From fountains to yoghurt, innovation comes from the unlikeliest places

new business ideas in the world

Criteria for five challenges: population, resources, education, health and nature

new business ideas in the world

Inventions that want to make waves in our everyday lives

SAN FRANCISCO, CA - MARCH 30: Microsoft employee Gillian Pennington demonstrates the Microsoft HoloLens augmented reality (AR) viewer during the 2016 Microsoft Build Developer Conference on March 30, 2016 in San Francisco, California. The Microsoft Build Developer Conference runs through April 1. (Photo by Justin Sullivan/Getty Images)

FT journalists and external experts will help identify the most promising innovations

50 Ideas to Change the World, judging panel

The FT is looking to find the new ideas that will shape our world in the future

new business ideas in the world

International Edition

new business ideas in the world

Top 127 Fastest Growing Businesses To Start in 2023

May 16, 2022


new business ideas in the world

Looking for new business ideas for jump-starting your journey to self-employment? 

You’ll definitely find one on this list.

I cover the 127 best and fastest growing business ideas to start in 2021. 

Many of these jobs are unique, exciting, and surprising-- so if you want some inspiration for creating your own small business, then you’ve come to the right place.

But before we get on with this list...

new business ideas in the world

I went from working a cubicle day job to living in a nice apartment in San Francisco by working from home building & ranking simple websites that generate leads for small businesses .

That tree service site above has been making me $2000 per month since 2015, imo this biz model is one of the best opportunities on the internet.

You can click here for more info on this lead generation business.

new business ideas in the world

Without further ado, let’s dive right in with rest of the business models.

We use Google Trends to show businesses that are trending upwards.

Business Management


1. Bookkeeping

Keeping track of expenses is something all businesses have to do.

Along with everything else a healthy business requires, this is a pretty important task. 

Plus many business owners just don’t have the time to learn the ins and outs of good bookkeeping practices. This makes bookkeeping both a vital and in-demand skill that most businesses could benefit from.

You can either choose to work remotely or locally in your general area. Typically, you should either have solid work experience in this field or enough time to invest in education and training.

You’ll also need some software to do the job like QuickBooks or another CRM with invoicing, bill-pay, and account reconciliation capabilities.

With relatively low start-up costs and growing demand, bookkeeping is a lucrative way to make steady money remotely. 

new business ideas in the world

2.  Virtual Assistance

The virtual working world is all the rage currently and so many businesses are taking advantage of what this technological revolution has to offer. 

A virtual assistant offers business owners the chance to outsource tedious and time-consuming tasks that distract from their main business goals.

This is great news for anyone interested in starting an online remote business.

As a virtual assistant (VA), you’ll handle a wide variety of business-related tasks such as calendar management, email management, travel arrangements -and much more!

You get to choose the clients you work with and whether you’d like to specialize in a certain niche while charging the rates you value your services at.

new business ideas in the world

3. VA Agency Owner

Though we all wish it were so, most business owners soon learn that they can’t be good at doing it all. Finding one place to locate niche experts to outsource different tasks to is literally a business owner’s dream.

Most VA agency owners start off as freelance VA’s themselves, however you can pretty much start an agency up with minimal investment and little experience.

You price services for clients to choose from, outsource these tasks to your VA team, and pocket the difference between typical rates and subcontractor rates.

Plus, you’re contributing to the growing trend of virtual workers as more companies turn to the convenience and accessibility of this option.

new business ideas in the world

4. Financial Advisor

Finances are hard to juggle at any point in life, no matter how much money you may have.

Financial advisors support their client’s lifestyles responsibly and collaboratively.

This skillset is obtained after completing a bachelor’s degree program with additional certification requirements.

Going the self-employed route can be  especially lucrative  for financial advisors hoping to start up their own firms. 

financial advisor stats

5. Business Consultant

Consider yourself an expert in an area businesses could use your input? Be it IT, team-building, systems improvement? 

You could start a business as a consultant.

Your professional network is worth far more than anything when it comes to finding clients, so make sure you’ve built strong connections in your field as well as a good-sized emergency fund should business be slow at the start.

Along with the chance to travel to clients all over, business consultants can charge what they feel their experience brings to the table.

business consultant stats

6. SEO  Consultant

We talk about offering SEO services to local businesses as cash flow to fund lead generation sites.

You can also decide to offer just this service alone and really hone in on developing SEO expertise or choose to work for a business or agency.

new business ideas in the world

7. Graphic Design

As social media and visual design grows more important for brands and businesses, graphic designers can expect to see an uptick of business.

Software programs like Adobe Photoshop and Illustrator along with a powerful and high-functioning computer include the main starting costs. 

graphic design stats

8. Transcription

Doctors, lawyers, professors, and speakers often need transcription on a weekly basis as part of their normal routine. 

Become the right-hand transcriber to clients from many different backgrounds and get into an exciting career with an influx of new work to keep you busy.

You’ll just need to purchase special equipment like foot pedals, time tracking and transcription software. 

new business ideas in the world

9. Freelance Writing

Writers can actually be very well paid, despite what you’ve heard.

Every business benefits immensely from well-crafted, punchy, and attractive sales copy to both attract and retain clients. 

Though writers can write a variety of content types: blogs, articles, social media copy, autobiographies, e-books--- the riches are in the niches.

Copywriters take the cake when it comes to writing profits, seeing rates over $100/hour. They can choose to work for an agency, corporation, or on a self-employed basis. 

new business ideas in the world

10. Travel Consultant

While simply working as a travel agent doesn’t exactly net an envious salary, the real money comes from creating your own travel agency and hiring outside contractors to scale.

With the advent of sites like trivago.com and booking.com, niching down in the travel industry is now more necessary than ever.

Expanding into the virtual and online booking arena proves vital to long-term success as well.

travel consultant stats

11. Tax Preparer

Tax preparation really meets its peak season from January-April of each year.

So this wouldn’t really be a full-time business venture, yet it can yield some profitable returns if you maintain your business each successive year.

The tax codes and rules constantly change causing more people to seek tax preparation assistance. Top tax preparers who work quickly and efficiently  can earn close to $60,000 or more in California.

Not too shabby for a business that runs 3 months out of the year.

Throwing in mobile and after-hours service can increase your business’ appeal to customers.

tax preparer stats

12. Voiceover Actor

If you’ve got the charisma and smoothness to serve as the virtual face of a brand, then voice acting may be the right career path for you.

Maintaining a career as a voiceover actor requires the proper equipment for flawless recordings and static-proof audio.

Many voiceover actors work around their own schedules which often require long hours memorizing and practicing scripts.

Those that do the job well can expect a handsome salary, with  the average California voiceover actor pulling in nearly $90,000 yearly.

voice actor stats

13. Editing/Proofreading 

Proofreaders need to be seasoned writers to spot minutiae errors within copy and produce impeccable results for clients, authors, and businesses.

Put your skills to the test and you could earn as much as $50 per hour for just one client. Did we mention your start-up costs aren’t much more than a computer?

editor/proofreader stats

14. Business Coach

Business coaches tend to be individuals who have achieved massive success in their field.

With the code cracked, a business coach may offer their expertise to other like-minded business professionals so that they too may be successful. 

Rates are largely up to the coach, with those who tailor services to high-end executives and budding entrepreneurs able to command more than $200 per hour.

business coach stats

15.  Social Media Marketing

Businesses that aren’t utilizing social media in 2019 are losing out on so much more than views. 

These days, a solid marketing strategy must include social media to truly be successful.

Yet each social media platform comes with its own rules and algorithms to understand-- so the learning curve can be quite steep.

Hiring out these services to a specialized social media manager saves businesses the pains of education, testing, and content creation-- all things which take tons of time to perfect. 

This field is seeing a 9% growth rate as social media continues to grow in popularity each year.

new business ideas in the world

16.  Email Marketer

This is a sector within freelance writing that’s a very profitable niche.

Email marketing typically encompasses most of marketing copy, both long and short-form. The art of email and nurturing leads is always vital for businesses of all types.

Copywriters who focus solely on email clients can start clients off with a  $1,500 monthly retainer and command higher rates as time progresses.

new business ideas in the world

17.  Ghostwriter

Capturing the essence of a person’s character through their words and mannerisms requires talent and deep interaction. 

It’s no wonder then that celebrities, athletes, and influential people alike elect to utilize the services of a ghostwriter when the time comes to pen their autobiography or release their documentary. 

Top-tier ghostwriters can command extremely high rates, sometimes earning close to six figures for a full-length autobiographical project.

ghostwriting stats

18.  Weight Loss Beverage

Skinny tea, hot cocoa that burns fat-- consumers are constantly on the hunt for a simple beverage to curb cravings and assist in fat loss. 

weight loss stats

19.  Selling Branded Merch

Get your company swag game going strong!

Branded pens, socks, t-shirts, and sweaters help companies proudly represent their business while also promoting it to customers.

Even the big business players continue to produce company branded promotional products. (photo of company-branded swag)

Find the right supplier to cut you a deal for bulk orders and you’re well on your way.

new business ideas in the world

20.  Reusable Bags Design

Saving the environment and going green has never been more trendier.

As cities enact plastic bag bans, consumers need to get creative to resume normal activities.

Reusable bags made from natural materials like hemp, synthetic fibers, and other biodegradable materials have thus become a necessity.

People love to express themselves through the design of the bag they choose, so a business creating custom designs or printing pre-made designs on reusable bags would not only help the environment, it would also put a little more green in your pocket too.

reusable bag design stats

21.   Brand Design Agency

Got an eye for curating attractive brand reputation and imagery? Lend your services to small businesses and brands from a variety of niches.

Running your own creative agency can either remain completely remote as you build a small team or you can rent a small office space to collaborate in person. 

The power of price-setting and client prospecting lies entirely with you in this business model while start-up costs include software, computers, internet, phone, and advertising.

brand design stats

22.  Facebook Ads Agency

There’s no doubt that Facebook dominates the social media landscape. Facebook advertising has become essential for small and large businesses to utilize (link to facebook ads article I did).

Not many people know the secret sauce that goes behind a successful Facebook ads campaign so they end up wasting money and time with no strategy in place.

 If you’ve got these skills, then you’re ahead of the game.

A seasoned Facebook ads marketer takes the guesswork out of Facebook advertising for clients and generates high returns on initial ad-spend.

Several courses exist to educate students on the ins and outs of Facebook advertising, but you can also peruse free information on the web. 

new business ideas in the world

23.  Digital Marketing Agency

Older generations still struggle with the changing technological aspect. 

This means so many business owners don’t have a clue when it comes to their digital marketing strategy-- which also means a loss of profit.

Those with know-how in this area consult clients and implement effective strategies to generate traffic, engagement, and leads for their customers. 

Other than your proven experience, you won’t need more than a computer and a website to start finding clients.

new business ideas in the world

24.  Blogging

Contrary to popular belief, blogging isn’t dead yet.

People utilize the Internet more than ever these days and having a useful blog post ranked on Google could generate great passive income. 

The real money in blogging comes from partnerships, affiliate marketing, and social media influencer agreements.

However, income isn’t exactly guaranteed as these results depend on the useful, engaging, and interactive content you produce to bring traffic to your blog. 

When done right,  top bloggers  have been able to generate hundreds of thousands of dollars per month completely online.

Maintenance costs like website hosting, web developing, and social media tools seem very minor in comparison to the earning potential from a single blog.

new business ideas in the world

25.  Amazon FBA

Amazon already dominates the online shopping sphere, so it just makes sense to take advantage of their reputation. Enter: Amazon FBA.

Amazon FBA functions much the same way as an ecommerce store, however without holding stock or dealing with packaging or shipping. 

All you need to worry about is finding winning items and getting those items to Amazon’s fulfillment centers.

new business ideas in the world

26.  Dropshipping

Dropshipping became popular as an ingenuous way to move product without actually owning a warehouse or dealing with shipping suppliers yourself. This very off-hands approach to owning an online store helped this online business method quickly blow up in popularity. Though many gurus will tout its simplicity, the truth is that dropshipping takes time to be profitable with very low profit margins in the beginning. You’ll want a hefty amount to invest as start-up capital for research, shipping and advertising. As markets become saturated with more and more competition, pouring dollars into the market research phase is absolutely crucial to succeed.

dropshipping stats

27.  Meal Kit Prep & Delivery

Everyone desires a healthy home-cooked meal after a long day. The problem is that most of us just don’t have the time to prep, cook, and clean.

Meal delivery kits help fulfill this gap by providing convenience to consumers to support their busy lives. 

So whether you want  to service die-hard vegans, gluten-free vegetarians, or low-carb lovers,  the market is wide open.

meal kit stats

28.  Resume Writer/Editor

If you’re someone who knows how to craft a highly effective and winning resume to land a dream job, you’d benefit well from offering your services as a resume writer/editor.

The key to branding your expertise matters here, so understanding marketing on all platforms serves this business well.

Consider outsourcing social media and digital marketing to an expert as a start-up cost (this can fall within the range of $24,000 per year).

Highly sought resume writers can command rates between $100-$400 for a single resume, working from anywhere in the world. Once a solid client base is secured, this field can pay extremely well.

new business ideas in the world

29.  Real Estate Investor

Viable as either a side hustle or a full-time gig, most people can jump into real estate investing for under $1,000. 

There are so many investment strategies to employ to help with turning a profit and profit potential varies drastically. 

If you’re looking to enter the next income bracket, real estate is one of the best stepping stones to maximize your income potential.

real estate investor stats

30.  Podcasting

So many people listen to podcasts, it’s insane. 

32% of Americans are monthly podcast listeners with average listening time at 6 hours 37 mins according to  this report .

That’s relishing news for fans and podcast enthusiasts, since starting your own podcast can run as low as $250 if you already have a computer. Top podcasts can even earn millions of dollars from sponsorships, products, and affiliates.

You can discuss anything and everything you’d like on your podcast-- the joys of creative and time freedom! 

new business ideas in the world

31.  Car Flipping

Getting hassled at the dealership just isn’t appealing to most consumers anymore. 

The staggering amount of people who use the Internet to search for new and used cars (78% of consumers according to  these statistics ), notably third-party sites like Craigslist, has increased tremendously over the past few years.

That’s good news for those interested in the car flipping business. This business model entails purchasing lower-priced vehicles and selling them for a profit. 

The sweet spot tends to be cheaper vehicles in good condition in the $500-$5,000 range.

A small investment of less than $1,000 can easily get you started. Use the profits from your first flip to fund more and watch the pure profit start to trickle in.

new business ideas in the world

32.  Online Boutique 

E-commerce replaces the traditional consumer shopping experience, giving people the ease of purchasing items online and getting them delivered quickly.

So whether you sell thrift store finds, create your own clothing line, or flip bargain items-- an online store is an ingenious way to reach customers all over the world.

Not every store can be successful, but those that are can reach six figures MONTHLY in sales.

Costs include hosting for your web store, advertising, and shipping.

new business ideas in the world

33.  Athleisure Clothing & Apparel

Sports apparel dominates for both genders in the marketplace, which isn’t surprising since this industry includes items like leggings, sports bands, waist trainers, shorts, and more.

Athleisure  generated nearly $200 billion in 2019 alone .

Social media has ushered in a new aspect of the market entirely as more companies utilize influencers and social proof to get eyes on new products and transcend untouched markets.

athleisure stats

34.  Ebook Publishing

Self-help is a huge industry that many are jumping on, especially in the e-book realm.

As more and more book stores close due to consumer preference for electronic book versions, the marketplace is ripe for authors who wish to self-publish their e-book on Amazon Kindle and other platforms.

It's relatively cheap to start the process and it's a great way for some passive income.

new business ideas in the world

35.  Course Creator

Courses are the perfect way to generate a revenue stream for years to come. 

You could enjoy the life-line of the course you’ve created with very little upkeep on your part, especially when paired with a killer digital product or subscription for sale.

Video recording software, graphic design, and marketing are all needed to build out the foundation of your course with costs fluctuating based on how fancy you want to get.

new business ideas in the world

36.  Online Mortgage Broker

Home sales and declining interest rates mean that more people are on the search for new property.

This drastically different atmosphere (at least from a 2004 perspective) means potential home-buyers or commercial business owners need help navigating the market to ensure they receive a fair deal.

A mortgage broker acts as the gate-keeper between clients and real estate companies in this regard.

If you already possess a broker license in your state, you won’t need much to get started save a computer, some advertising, and fishing within your personal network.

Offer services like credit assistance, investment advice, and more to pad your cash flow while waiting for commission if your state allows it.

new business ideas in the world

37.  Real Estate Agent

Ah yes, in every housing bubble you will find a smiling real estate agent hungry to close the deal.

The economy remains in fair condition, with predictions of a steady increase within the next decade or so. This is especially good news as 30 year fixed-rate mortgages continue to slip to nearly 3.8% according to a  recent Bankrate article .

Now is the perfect time for motivated individuals to pursue licensure and sort out their marketing plan.

Depending on the area you specialize in, a single home sale can bring a sizable commission. 

new business ideas in the world

38.  Arts/Crafts Sales

If you enjoy making crafts with your hands and endeavor to start a small handmade jewelry boutique, becoming an Etsy seller may be right for you.

While success isn’t a sure thing, many have seen their small businesses skyrocket by starting out on the platform.

new business ideas in the world

39.  Peer to Peer Lending

Sometimes it seems like when you need cash or a loan fast, banks refuse to lend to you.

In a P2P lending platform, samaritans band together to enable people from all backgrounds to borrow the money they need and pay it back responsibly with interest. 

With an  astounding growth rate that’ll make you blush , starting your own P2P platform could be incredibly profitable.

Consult your state laws and legal counsel to get an idea of the logistics behind this business model.

new business ideas in the world

40.  Baked Goods/Snacks

Home-made always trumps generic, as I like to say.

As more people undergo lifestyle changes, the search for healthy yet tasty treats soars.

Let’s not forget the rise of veganism and increasing preference for low-carb and gluten-free foods.

You can target these exploding industries by creating delicious treats that fulfill this target criteria and selling them to individuals, grocery stores, and convenience stores.

new business ideas in the world

41.  Waist Trainer/ Shape Wear

Just because you can’t replicate SKIMS, doesn’t mean you can’t enjoy your share of  the shapewear market. 

The versatility of shapewear products and their appeal to the dominant culture of the younger demographic makes them a vital product that’s here to stay.

shapewear stats

42.  T-Shirt Design

T-shirts with relatable and witty captions or cool designs always become wildly popular. 

Find the last viral trends and stamp them onto a custom T-shirt designed by you!

Whether you make the shirts in-house or use third party printing and design services, a well-designed T-shirt business can prove highly lucrative with simple web hosting, shipping, and advertising eating up most of your expenses.

new business ideas in the world

43.  Phone Case Seller

There’s always going to be a new smartphone out on the market.

So why not capitalize on the overwhelming number of mobile devices and specialize in creating personal accessories?

The phone model and case type you design will help narrow down your intended market a bit. You’re most likely going to primarily sell online so finding a reliable supplier and store-front hosting are going to be your biggest investments. 

phone case seller stats

44.  YouTuber/Influencer

This video-sharing platform racks in millions of users daily, eager to consume a massive volume of content on all topics. 

Need to learn how to do something? It’s almost guaranteed you’ll find a video on YouTube.

Becoming an expert in one niche and producing valuable content that gets clicks can actually earn you a good sum of money, believe it or not. 

Gaining fans and social proof takes time, but your efforts can undeniable pay off. Take a look at what some of the  highest-earning YouTubers  make.

new business ideas in the world

45.  Software Development & Sales

Nowadays, you can enjoy the nest egg of software without even being a developer or programmer yourself.

Spend time perfecting your creative vision for a software, hire a software developer, and breathe life into your idea.

You can also outsource sales if you’d rather focus on other areas in the business.

Once your software is finalized and out on the market, you can enjoy constant hefty profits while working on another idea or scaling the business-- functioning as a form of passive income.

new business ideas in the world

46.  Phone/Electronics Repair

Our phones contain everything we need to survive, basically. In addition, smart-phones are becoming increasingly necessary and even more expensive to buy today. 

Phone insurance and replacement encompass hefty out-of-pocket costs, so it makes sense that more and more consumers turn to traditional cell-phone repair.

Let’s also not forget the once-off cracked screen or water damage incurred.

Even if you’re not a techy phone repair expert, videos on the Internet and some basic tools provide the arsenal you need to get your cell phone repair business running.

You can also upsell your customers by selling phone cases, phone protection equipment, and other accessories!

new business ideas in the world

47.  Electronic Accessories

Smart phones’ capabilities continue to grow and their price tags multiply right alongside them.

As a result, people are more than willing to invest in protection and decoration for their cellphones.

Cases and screen protectors top the charts for electronic accessories with newly designed cases and shatter-proof glass protectors paired together. This booming market is  projected to hit close to $300 billion by 2026.

electronic accessories stats

48.  Home Security Systems

Home security systems are exploding in popularity alongside smart home devices, with an  impressive CAGR of 10.4% expected until 2023.  

Remote security cameras that can be viewed from any number of smart devices, alarm systems with motion detection capabilities-- small businesses can get involved within this industry in a number of ingenuous ways.

home security system stats

49.  Virtual Reality

There’s no doubt virtual reality’s changed the game.

With all the success of companies like Oculus (owned by Facebook, of course) and more innovative ideas being developed, small businesses can jump in the mix and grab hold of a slice.

There’s no stopping anytime soon, especially with a  compounded annual growth rate of 48.7% and growing from now until 2024.

An immersive video game store solely dedicated to VR consoles and games? These particular products need to be tested in person for the full experience, making this business model lucrative. What about an arcade?

The possibilities are currently endless in the VR sphere.

new business ideas in the world

50.  App Creation

If you get hands-on and do all of the app development yourself, your earning potential with the perfect app idea can prove to be a golden ticket with very little upfront costs.

The mobile app industry is  expected to top $200 billion in 2020 alone , with projections soaring beyond that number.

Whether it’s for gaming, subscription, or lifestyle-- there’s an app to fit most target demographics.

new business ideas in the world

51.  Smart Home Installation

Lights, ovens, televisions, and faucets that obey your every command? Welcome to the era of the smart home.

Those with electrical and other device installation experience can easily turn their focus to the installation of ‘smart’ home devices. 

new business ideas in the world

52.  Web Developer

Businesses of all types need well-built websites to sustain their online networks. That’s where a web developer comes in.

Though there aren’t really formal education requirements (self-teaching is definitely plausible), many pursue an associate’s or bachelor’s degree in the field.

The return on investment in this path appears positive, with the average web developer salary in  places like San Francisco as high as $108,017. 

Web developers can work directly for companies or create their own freelance business and work from home.

new business ideas in the world

53.  IT Support

This field recommends the minimum of a bachelor’s degree to safely compete in the insanely growing IT field.

Extensive computer knowledge and useful connections provide the base for securing your own freelance client base. 

Both small and large businesses rely on tech support and trouble-shooting to continue operations, so your services will definitely be needed in a high capacity. 

The outlook is amazing for those interested in this field with over 500,000 new jobs to be filled beginning in 2020 alone.

new business ideas in the world

54.  Computer Programmer/Coder

Knowing multiple coding languages, HTML, and more programs can not only land you a great job with benefits at any company-- it also opens doors for self-employment and the work/life balance you crave.

Medical offices, software companies, B2B, and a multitude of fields employ computer programmers, so the specific industry you work in is entirely up to your discretion.

With an entry-level salary of $60,000 with tons of room for growth, expect competition to accompany the thousands of expected job opportunities.

new business ideas in the world

55.  3D Printing

This business model is like something out of a science fiction movie, but it’s becoming a major reality in everyday life.

Invest in  the 3D printer , materials like thermoplastic, and 3D printing software and you’ve got a full-blown 3D printing business. 

Like most businesses, niching down can net you higher profits and a more loyal client base.

3D printing stats

56.  Security Consultant

A skilled and knowledgeable cybersecurity expert also holds value to corporations and businesses, especially as technology expands.

Take a look at the major security breaches that recently affected Experian and Wells Fargo, even these huge companies become vulnerable to hacks and other cybersecurity threats.

Get started by pursuing an IT or systems administrator role. Specialty certifications also become necessary in this field.

The best part? You can work from home in your jammies while ensuring your client’s security network is up-to-date.

new business ideas in the world

Commercial/Residential Services

house cleaner

57.  Home Cleaning

What other business could you get off the ground with a business license and some cleaning supplies?

With less than $500 in start-up costs (depending on city and state business licensing requirements), you could build and scale a full-fledged cleaning business from scratch.

 Of course, to keep costs this low, you’ll mostly be cleaning the homes yourself until you build enough clientele to hire a team. 

new business ideas in the world

58.  Home Remodeling/Renovation

Though for this business model it’s often recommended to have a fairly large investment to start (sometimes more than $250,000), you can also get started with just your hands, skills, and the proper licensing. 

Of course, you’ll need to have construction or renovation skills if you don’t have the capital to hire contractors right away.

Plus, you’ll most likely see steady business as home renovation is popular year-round, with  around 50% growth seen since the recession .

new business ideas in the world

59.  Home Decor  

Interest rates for home loans continue to decline, meaning more people are becoming homeowners for the first time. 

This increase in disposable income means people are looking to spruce up their homes with decorations and such. Throw pillows, rugs, decorative picture frames, and linens are some of the most popular items consumers shop for.

The advent of social media and the appeal of home decor and remodeling shows has aided in the steady increase of this industry’s size.

home decor stats

60.  Appliance Repair

Those who love tinkering with their hands can now reap the financial and time benefits of their labor. 

Though some appliances require specialized training to tackle, if you're good at figuring out how to make things hum again then you're well on your way.

The greatest setback to getting started would have to be the investment on mechanical equipment and licensure needed to do the job.

appliance repair stats

61.  Window-Washing

You could start a window-washing business today after gathering up the staple supplies you’ll need to complete the job.

Watch some YouTube videos and read some how-to guides to gain the knowledge you need to get the job done right.

Commercial businesses and high -end homes should be your main targets when searching for clients.

new business ideas in the world

62.  Pool Cleaning

Better job prospects and promising investments mean more disposable income for many Americans.

The luxury of pool installation comes with its share of maintenance costs, namely the upkeep of chemical levels and debris. 

The recurrence of pool cleaning services every 4-6 months allows you to build a solid customer base while scaling your advertising efforts to find new clients when business stabilizes.

new business ideas in the world

63.  Carpet Cleaning

Appearance is tantamount, both to commercial entities and home-owners. Flawless indoor carpeting makes a place stand out and maintaining carpet cleanliness takes work.

That’s why carpet cleaning  makes up a nearly $6 billion industry .

Professional carpet cleaning is highly sought after by customers due to how quickly dirt and grime build-up. Home-owners with children and pets and walk-in businesses often require more regular treatments, which can help you gain loyal clients.

new business ideas in the world

64.  Landscape

If you live in an area where snow and colder weather are the norm, this business model probably wouldn’t be very profitable for you.

However, springtime and warmer months occupy the busiest times of the year for landscaping and lawn-care professionals, with those residing in temperate climates benefiting most.

Landscaping is  expected to increase in demand , keeping pace with the booming housing market.

new business ideas in the world

65.  Junk Hauling

Americans store too much junk in their storages, garages, and living spaces. How often have you seen old furniture and broken appliances sitting curb-side?

If you’ve got access to a pick-up truck, you can get started hauling away unwanted junk in your local area and making easy money with only your truck and hands.

Scaling your junk removal business takes work but it can be done.  Just take advice from the founder of 1800-JUNK.

new business ideas in the world

66.  Moving

Put your back into it (actually, don’t-- always use proper lifting technique)!

Moving is a pain for most people, whether they’ve got to high-tail it out of state or transfer new furniture to a different part of the house.

Though it’s back-breaking and laborious work, the industry continues to trend positively with steady growth.

With a small van or pick-up truck, you can get a moving business going with little else in the way of expenses. Just make sure you obtain the proper licensing in your state.

new business ideas in the world

67.  Plumbing

The trades are continuing to remain steady career paths to pursue.

Only requiring a high school diploma and acceptance into an on-the-job apprenticeship, this is an extremely attractive option for both the younger demographic and career-changers.

The field anticipates a  14% growth rate through 2028  and it’s not slowing down anytime soon.

Plumbers are needed year-round.  Many plumbers also turn to self-employment and work on a mobile basis with or without a physical location.

new business ideas in the world

68.  Electrician

Here’s yet another trade with exciting growth and promising prospects.

With a high-school diploma, anyone is eligible for an apprenticeship or entry into a trade program. However, competition remains high as the number of applicants soar each year.

It’s no surprise- considering electricians can earn upwards of $100,000, this figure being even more attainable for self-employed electricians.

new business ideas in the world

69.  Handyman Services

Good with fixing things that break or need maintenance? 

Consider starting a mobile handyman service. 

Make yourself available at odd hours to both residential and commercial clients, and you’ve got yourself a growing customer base.

Hotels, small businesses, homes, offices-- all need some sort of tinkering with something. 

If you don’t already own tools, most of your costs upfront are from tools and supplies, sprinkled in with some advertising. Very little investment for a high return.

new business ideas in the world

70.  House Painter

Enjoy grabbing a paintbrush, deciding what color to paint a room, and getting to work with careful precision?

A house painting business is an inexpensive business model that requires expenses such as the paint, a ladder, rollers, and brushes.

Though permit and licensing requirements vary by state, you can be up and running in a relatively short time and establish your local client base.

new business ideas in the world

71.  Transportation

We all have somewhere to go, places to be… so why not make a business out of the necessity for transportation?

Trucking, logistics, air cargo, taxi/limo service-- all are great ways to get your feet wet in this booming industry.

The avalanche of smart scooters and on-demand bike/car rentals have also soared, so this area is worth exploring as well.

new business ideas in the world

72.  Interior Designer

Those with an eye for beauty and a flair for design can excel in the interior design space.

Plus as disposable income grows it’s likely that more people will turn to home improvement and renovation.

The most important thing a new interior designer should possess is a strong portfolio highlighting samples of their work. While some choose to pursue higher education, it still stands that on-the-job training provides the best experience before starting your business.

With the social media age in full swing interior designers now have access to millions of potential clients, giving them the chance to showcase their talent through photo and video sharing.

new business ideas in the world

Personal/Mobile Consumer Services

dog walker photo

73.   Dog Walker

Enjoy a stroll in the park with your furry friends, spend an afternoon playing, and get them home safely.

If this sounds like your type of day, starting a dog walking business could be a fun money-making venture to pursue.

It’s important to research your area and assess the demand for dog-walking services. Keep in mind apps like rover and wag dominate many areas.

new business ideas in the world

74.   Pet Sitter

A genuine love for animals and their well-being are key criteria for running a pet sitting business from your home.

Most pet owners bring their pet’s necessities with them, so you only need to worry about stocking the basics and maintaining the right insurance coverage.

Though it can take a good amount of time to build up enough steady income to scale, the very low upfront costs and crazy flexibility make it a good business model to invest in.

new business ideas in the world

75.   Pet Groomer

The appeal of a mobile pet-grooming service lies in the accessibility of services. 

Pet owner’s schedules can be hectic enough and making time to take pets to the groomers is yet another hassle.

Offering a commercial vehicle to transport pets carefully to and from your home for grooming helps pet owners skirt past this issue entirely.

You’ll want to have some pet grooming experience, much of which can be acquired on-the-job or through a separate training program. 

new business ideas in the world

76.   Pet Trainer

Well-behaved pets cause less stress for their owners and make pet ownership truly enjoyable. But most owners don’t possess the time, patience or expertise to properly train their pets.

Do you have a knack for getting animals to obey you or simply love getting hands-on with animals?

A pet training business could be the key to unlocking your dreams of entrepreneurship.

new business ideas in the world

77.   Light/Sound Equipment Rental

Whether you go the franchise route or start your own rental business from the ground up, this business model is a great way to generate profit with light effort.

Local businesses, individuals, and groups often need access to light and sound equipment for different events and purposes.

Having a stock supply of this equipment ready to lend out helps fulfill this need for both long-term and short-term clients.

Your investment will primarily cover the various pieces of equipment, a rented location to house the equipment, and advertising efforts.

equipment rental stats

78.  Storage 

Who do you know that could use a thorough clean-out of their home followed by a trip to the storage unit? Nearly everyone.

Though the storage unit industry’s profit margins far exceed most small businesses (typical ROI for small businesses hovers somewhere between 2-3%), it does cost a pretty penny to get this business idea off the ground.

Construction and land-acquisition make up most of the hefty start-up cost.

If time isn’t a factor in your business decision, you can expect  a healthy 11% profit margin  with low maintenance and various money-making strategies at your disposal in a few years when business stabilizes.

new business ideas in the world

79.  Driver's Education School

There will always be young and inexperienced drivers eager to get on the road. With many states imposing mandatory behind-the-wheel educational hours, business should flock in year-round.

Research the appropriate licenses and certifications you’ll need to work as an instructor and secure a small place to home your location.

To cut starting costs, use your own vehicle to foot the insurance and gas costs until you can invest in another one.

new business ideas in the world

80.  AirBnB Host

The new wave of vacation rentals has come to fruition with the massive success of rental giant AirBnB.

Extra space in your home or an additional property could potentially earn you passive income to the tune of $10,000 per month.

You can use this initial rental income to invest in more real estate and expand your rental empire.

The mechanics and more behind this business model  are covered in great detail over at the Millenial Money blog.

new business ideas in the world

81.  At-home Daycare

Both men and women compete in the rat race for promotions and new opportunities and reliable child-care paves the way for this desire career mobility.

You can get started in your own home and register for the appropriate licensing to make your daycare legitimate.

Before you hire staff, food, activities, and insurance make up the bulk of your expenses.

If you’ve got young children of your own, an in-home daycare provides the flexibility to earn an income while watching over your own child.

new business ideas in the world

82.  Make-up Artist

As much as we’ve seen the make-up industry explode in the past year it makes sense that the demand for make-up artistry increases steadily too.

Make-up artists have the freedom to work with clients around their schedules with the option of extensive travel an attractive part of the job. 

They work year-round in industries like film, television, weddings, theaters, and many more.

new business ideas in the world

83.  Photo Printing

Technology isn’t always perfect, as you may have seen with system crashes and data breaches in recent years.

Our data, especially our precious memories, are prone to getting lost in the data-sphere.

Time to implement old-school saving methods.

Printed photos take up a bit of room but they immortalize your special moments in case your digital file gets deleted. Creating memory books and collages is also still very much a thing, so starting a business catering to high quality digital photos is a wise idea.

photo printing stats

84.  Food Truck

Don’t want to be tied down to a physical location but eager to let the world taste your culinary delights?

Get a food truck business going.

Setting up shop near a busy area filled with hungry lunch seekers brings needed foot traffic. 

Public events also typically invite food trucks to park and serve in a designated area-- just the exposure your food truck needs to grow its client base, expand its service area, and get business for various events. 

Either way, the outlook for the mobile food business is awesome with  over 85% of food truck owners reporting over $100,000 in annual income.

new business ideas in the world

85.  Coffee Shop

Out of all the brick and mortar food businesses you could start, coffee is perhaps one of the smartest areas to build a successful brand around.

People are always on the hunt for authentic and great-tasting coffee to separate from al the Starbucks and Dunkin’ Donuts chains.

Attracting loyal clientele depends on your shop’s location and the amount of foot traffic your area receives.

The amount you can make varies per coffee shop owner, but you can rest assured that the demand for coffee won’t wane anytime soon.

new business ideas in the world

86.  Catering

If you’ve got a reputation for wholesome and delicious cooking and family members always gobble up your dishes, then it may be time to transform your culinary skills into a business.

Living in a diverse area offers the advantages of expanding into ethnic and fusion cuisine.

Since parties aren’t limited by season, there will always be events that need authentic home-made food for guests to indulge.

Since the catering business appears to be trending upwards,  toppling $58 billion alone in 2017 , the time to jump in is better than ever.

new business ideas in the world

87.  Vending Machines

You see vending machines nearly everywhere you go, you’ve probably even purchased a couple of items from them in the past when you were super hungry.

Now you can take part in the action and start by purchasing your first few machines.

Decide what you want to sell in your vending machines, find a place to house them, and you’ve got a growing little business!

Purchase more machines and hire staff to transport and collect the machines and the money you’ve earned to really get going.

new business ideas in the world

88.  Gym Owner

Niche and specialty gyms still stand out from the big name franchises and national gym brands.

Kickboxing, martial arts, cycling, yoga, and CrossFit-- there are so many possibilities that exist for those interested in starting their own gym. 

Once you’ve established whether your gym will thrive in your chosen environment, securing funding is the next hurdle. 

Significant start-up capital is usually needed to start a gym but the  healthy annual growth rate of nearly 4% in the $36 billion industry  should help you turn a profit after a few years.

gym stats

89.   Mobile Laundry/Dry-Cleaning

Picture the stressed CEO flying out for an important meeting tomorrow who needs his suit pressed as soon as possible.

Oh, and he can’t physically pick up or drop off his items. 

He would call your mobile dry-cleaning and laundering business without hesitation.

A mobile laundry/dry-cleaning service exceeds customer expectations and takes care of every detail without inconveniencing customers.

Customer service tops the list of importance with this business model as many times you only ever communicate with your customers via phone.

With some household appliances or a pre-arranged deal with a local dry cleaner, this business model doesn’t require much to start. Make sure you’ve got liability insurance so you’re covered in case of any mishaps.

new business ideas in the world

90.   Senior Care/Companionship 

Seniors who live alone or are retired often find themselves lonely or needing assistance with different tasks throughout the day. 

Family members are given the peace of mind they need when they’re able to entrust a companion or aide to visit and help with their loved ones.

This also allows seniors to remain independent and reside comfortably in their homes for much longer.

This service will only continue to grow in demand,  with predictions that over 25% of America’s population will comprise of seniors 65 and older by 2060.

new business ideas in the world

91.   Nanny/Babysitter Agency

People are always going to have children and many parents can’t afford the luxury of staying home.

Many also don’t have the time or resources to properly vet each and every potential babysitter that comes their way.

As sites like care.com aids parents painlessly online, budding entrepreneurs can sustainably build a nanny/babysitting agency to match qualified sitters to jobs, without ever doing the babysitting themselves if they don’t want to. 

Beneficial for career nannies/sitters and parents alike, a babysitting agency can average between 5-20 bookings per week.

new business ideas in the world

92.   Bike Repair

Americans have become more health-conscious, not to mention more environmentally aware.

Areas with vast modes of public transportation tend to be more urban. So high pedestrian areas include a large percentage of bike traffic.

Bikes, like cars, need regular maintenance and spur-of-the-moment repairs. Selling refurbished bicycles also provides another income stream.

Location is everything here, but if you wind up in a bike-friendly area you’re bound to get business.

new business ideas in the world

93.  Car Wash

The technology behind a good car wash hasn’t changed much in recent years. 

What has changed is the demand for mobile service providers and the preference for quick and easy service at the tap of a button.

Understanding professional standards for car detailing and washing is key to preventing damage or complaints. Make sure you study up before purchasing cleaning supplies and organizing your commercial van to transport everything to client sites.

new business ideas in the world

94.  Headlight Restoration

Going to the mechanic for something as minor as headlight repair can prove an inconvenience for many. 

Why not close the gap and offer your mobile headlight restoration services to customers (after defining a reasonable service area limit of course)? 

If you’re already handy around cars, then narrowing your focus to headlights saves you tons of time and gives you the edge you need to get the ball rolling.

new business ideas in the world

95.  Notary Public Loan Signing Agent

Requirements vary from state to state, but the attractiveness of a career as a mobile notary remains the same. 

In California, applicants need to be a minimum of 18 years of age, take a 6-hour education course, and pass a written exam to be eligible for a notary public commission.

Notaries public can work in a range of areas, making it both an ideal career path or a perfect side-hustle. 

Notary public signing agents command the highest rates in the field, with estimates of payment between $75-$250 per hour for a single appointment.

General notary work is also great for quick cash infusion while you’re out marketing your services and getting other certifications to make yourself competitive in today’s real estate market.

new business ideas in the world

96.  Videography

Videographers are employed on film and television productions, as well as by companies that utilize the Internet for advertising and promotional capacities.

While formal education isn’t a hard requirement, studying an associate’s or bachelor’s program in fields like mass communications or broadcasting help with getting experience under your belt.

Equipment costs need to be factored in as well.

Videographers can thrive working as a freelancer, with some earning an  average of nearly $93,000 in California.

new business ideas in the world

97.  Barber/Hair Stylist

With the expansion of metropolitan areas and higher populations comes a huge market of consumers looking for hair cuts and hairstyling.

The 8% growth rate  for this role just demonstrates this point clearly.

Many barbers and hairstylists work out of established shops where they rent stations or also provide mobile on-demand services to client homes. 

However social media and video sharing have allowed hair professionals to create brands for themselves as they utilize YouTube tutorials and Instagram photos to showcase their talent and work.

new business ideas in the world

98.  Tattoo Artist

Body art and piercings are the trend to follow,  with over 38 % of youths aged 18-29 possessing one or more tattoos.

Most tattoo artists start as apprentices before transitioning to full-fledged tattoo artists, where they learn all about drawing and proper technique.

While you need to pay for booth rental in a studio, supplies, and licensing--top tattoo artists can charge up to $250 per hour. 

Plus, social media and YouTube provide wonderful creative outlets for tattoo artists to showcase their talent and attract more clients.

new business ideas in the world

99.  Translation

Immigration and emigration have made a globally connected world ripe with hundreds of languages and dialects.

Knowing more than one language is always valuable, especially if you have knowledge of the most in-demand languages.

Huge businesses are in constant need of reliable and effective translation to communicate with customers and potential leads. Sorry, Google Translate just isn’t accurate enough.

With a translation agency, you can employ a team of the best and most capable freelance translators and match them with clients. 

new business ideas in the world


tele-med photo

100.  Tele-Medicine

Like I keep saying, the digital world has become an inescapable reality that businesses need to adapt to.

Any service, software, or piece of technology that improves health-care providers’ efficiency of care brings unmatched benefits to the field, which makes  the global $405 billion industry  extremely lucrative.

Medical care will always be needed wherever people live, especially as populations age and live longer.

Remote patient monitoring, improved transcription, accurate record-keeping, and retention of important data-- these are all opportunities for a small business to expand on.

new business ideas in the world

101.  Registered Dietitian (R.D.)

For this route, you’ll need to be licensed as a registered dietitian which is obtained only after successful completion of a bachelor’s degree program.

Most R.D.’s work in hospitals, health clinics, schools, and more.

With the influence of social media and online publications, R.D.’s can benefit financially from public education and providing consultant services to various institutions.

RD Stats

102.  Workout/Exercise Supplements

Pre-workout smoothie, powder, or supplement-- whatever it is, you bet a fitness junkie is interested in buying it!

All-natural and healthy ingredients are a must to compete in today’s supplements market, as consumers continue to educate themselves. 

You’ll want to look into selling from an online store-front while also retailing a small portion within gym franchises and chains.

workout supplement stats

103.  Medical Transportation

This business model takes advantage of both the senior care and transportation industries, making it an attainable money-making opportunity.

Note that the senior care services boast an impressive  7% growth rate over the long run for the $400 billion industry as a whole .

Many seniors no longer get around as easily as they used to, with many unable to drive. You can offer your services as a non-emergency vehicle driver, transporting them to medical appointments, the grocery store, and other activities. 

new business ideas in the world

104.   Medical Courier

You don’t need to be a doctor to nurse to rake in income from the always booming medical field.

The most you’ll need to take off is some HIPAA/OSHA training and a commercial vehicle. Every employee you hire thereafter will also need to meet the same standards.

As your business grows, you’ll also eventually require a physical office location to handle logistical aspects of delivery, invoicing, and client contact.

new business ideas in the world

105.  Marijuana

As more states jump on board with legalization, the legal marijuana industry  spiked its 2019 sales by 31.7% alone.

There’s room in the market to approach the industry from many angles: starting your own small-scale growing operation, expanding your baked goods into edibles, developing a CBD oil ideal for sleep-- these are all profitable ventures to consider when you want to branch out in the marijuana industry.

new business ideas in the world

106.  CBD

CBD, the sister industry to marijuana, has taken the world by storm. The natural and therapeutic oil serves as a remedy for pain, stress, and a number of other ailments.

CBD products include lotions, oils, topical solutions, edibles, and concentrates. 

Developing a CBD product line makes so much sense  based on projected growth  that doesn’t look like it’s faltering in the next decade or so.

new business ideas in the world

107.  Health Coach

We could all stand to eat healthier and get a bit more exercise.

Health coaches take their knowledge of healthy intuitive eating practices, nutritious diets, and sustainable living to create custom plans for clients to improve their overall well-being.

Many health coaches are employed by hospitals and clinics while a large percentage of others electing to work with clients solely online.

While the health and wellness industry continues to explode with new products and services on the market, you too can grab a slice of the $4.2 trillion pie .

new business ideas in the world

108.  Life  Coach

Do you have personal goals to reach but are struggling to reconcile with setbacks and shortcomings?

A life coach’s job is to see you through your goals and work with you to develop a clear actionable plan to reach them.

Though often confused for therapy, life coaches try to be a therapeutic and logical influence in your life. 

Many business professionals and budding entrepreneurs may benefit immensely from the positive support a life coach embodies.

new business ideas in the world

109.  Doula

Compassion and a nurturing spirit encompass some of the qualities of an amazing doula. Aside from midwives and practitioners, doulas are tasked with providing care and support to women undergoing the pregnancy and childbirth process.

A short certification program is the normal starting path, though no official certification or education requirements exist.

Doulas have the benefit of selecting the clients they work with and working appointment times and counseling around their other commitments.

Pricing structures vary with many doulas charging hourly or a flat fee and some estimates as high as $2,000 for a single birth.

new business ideas in the world

110.  Massage Therapist

Take your expert massage therapy skills to the next level as a self-employed mobile massage therapist.

With back and joint pain on the rise as Americans succumb to the demands of their busy careers, massage therapy continues to grow.

As a trained and certified massage therapist, now is the time to showcase your passion and care for customers through the art of massage with your own massage therapy business.

While starting up a brick-and-mortar massage location in a high foot-traffic area would serve your business and clientele well, consider the benefits of mobile massage therapy services.

You won’t have to maintain a physical location, you’ll simply travel wherever your clients need you! Factoring in your cost of supplies, travel costs, and business licensing requirements, you can pull in a hefty profit from running this business model.

massage stats

111.  Essential Oils & Scents

Natural home remedies are the popular alternative to traditional medicine.

Various oils boast benefits like headache relief, anti-nausea, stress relief, and many more purported solutions to everyday ailments.

Direct sales industries like DoTerra and Young Living bloat with  nearly 23% of the profit share  in the essential oils industry.

Yet as more healthcare providers and conscientious individuals turn to local, trustworthy, and natural oils, the market is still ripe for fresh entry.

essential oils stats

112.  Keto Lifestyle Coach

Gone are the get-results-quick diet fads of the past.

 Sustainable lifestyle changes like veganism and the ketogenic lifestyle continue to grow in popularity as consumers see drastic results and other positive changes.

This market encompasses supplements, key food groups, beverages, powders, and more. A keto-friendly product touting proven health benefits and aiding in weight loss and maintenance would net positive profits for entrepreneurs.

keto coach stats

113.  Keto Food/Beverage

Sustainability matters to consumers when they’re looking for a lifestyle change, which is why those like veganism and the ketogenic diet outshine the rest.

Those who enjoy the many benefits the keto diet provides (weight loss, reduced cravings, decreased blood sugar) are always searching for delicious substitutes for the foods they miss.

Capitalizing on this exploding market allows small businesses to experiment with products in the beverage, snack, and workout areas.

keto food stats

114.  Meditation & Motivation Self-Help

The power of a positive mindset intrigues consumers to no end.

People like listening to nice words to get inspired, so the self-help market in the meditation and mindset niche is one to capitalize on, with  a revenue of $1.1 billion and growing.

It seems the mobile industry is trending increasingly positive for this niche, with apps like  Calm  and  The Mindfulness App  dominating app store leaderboards and entrepreneurial and motivational e-books on the rise.

meditation app stats

115.  Personal Trainer

Personal trainers often need extensive knowledge of the body and motion to successfully perform the job.

So a certification or associate’s program both provide great choices for educational investment.

The market predicts a steady 13% growth rate  for personal trainers as the health and wellness industry continues to flourish.

new business ideas in the world

116.  Esthetician/Skin-care

The skincare industry reaps in profits year after year. 

Yet recent trends show a dramatic surge in consumerism,  thanks to the aesthetics afforded by social media and rampant interest in health and wellness.

Budding estheticians should expect to complete a formal training program with licensing fees and requirements determined by the state.

They use this knowledge to perform skin treatments and provide other services like applying eyelash extensions or make-up.

Self-employed estheticians set their own schedules and rates affording them time and financial freedom, with many pulling in six figures per year.

new business ideas in the world

117.  Medical Billing

Those interested in medicine and good on the computer should consider starting a medical billing business.

All you really need is a certificate of completion in medical billing which can be obtained through an online or in-person secondary education program.

You’ll also need medical billing software, a printer, and a faxing machine.

Smaller medical practices such as ambulance providers benefit well from smaller medical billing businesses, especially those skilled in insurance codes and science.

medical billing stats

118.  Topical Skincare

Skincare covers a wide range of product types from facial creams to body scrubs and body oils. 

Younger women obsess over keeping that youthful glow while older women seek maintaining a clear and young-looking complexion.

Men are not to be ignored in the skincare realm either, with  male consumption of skincare products jumping 7% in the past year alone.

A high-quality sustainable skincare product such as a body sugar scrub, a shower body gel, an after-shower body oil, and tons more would excel in the online skincare retail space.

topical skincare stats

119.  Yoga/Meditation Teacher

Mindfulness brings forth progress and peace, as the power of positive thinking influences our actions for the better -- namaste!

Yoga is known for clearing the head-space and reframing your plan of action.

It’s a healthy way for many to release stress and align their minds with their goals.

The online sphere has transformed the way yoga teachers reach students with streaming and video-calls making it possible to form a global client base and following. So the income possibilities are totally open.

It’s also worth noting that  t he number of men who practice yoga has doubled since 2012 ,  which speaks volumes about its growing popularity.

new business ideas in the world


new business ideas in the world

120.  Online Music Teacher

With the ease of online video platforms, the way music teachers perform their jobs has drastically changed.

Aside from in-person sessions, music teachers now have the chance to broadcast lessons and give pupil feedback completely online.

The accessibility of this service means premium rates are not far-fetched or unreasonable.

A YouTube channel offers yet another income stream that music teachers can use to distribute content, offer their services, and build brand partnerships.

new business ideas in the world

121.  Photo Booth Rental

Parties never go out of style or season.

So having a small business dedicated to party/event success will always get you business!

Photo booths provide the perfect touch to any event. Customized photos serve as the ideal keepsake for making fun memories at any party.

With the variety of photo booth types out there, you can even get started with a traditional photo-booth for all the nostalgic feels.

You’ll need to pay for 2-5 photo booths to start and get your business rolling, not to mention advertising and maintenance costs. However, you can make your investment back fairly quickly, with corporate events bringing in around $400-$700 per hour on average. 

Hire a small team to run the photo booth at events and you’ve got a form of passive income to enjoy.

new business ideas in the world

122.  Monthly Subscription Service

Subscription boxes continue to grow in popularity. Consumers can get a monthly box filled with all sorts of things--  c lothing, beauty, food,  and much more !

Overhead can start off very low (perhaps $5,000 or less) if you do the work yourself, and profits can eventually scale to high margins. 

Most of the hard part comes from narrowing down your niche and deciding what benefits you’re going to provide to your customers.

new business ideas in the world

123.  Event Planner

Every season of the year is ripe for various parties and events.

It takes amazingly impeccable planning and budgetary skills to pull off a huge party, something that’s best left to a seasoned event planner.

Like most fields, sticking to what you know best is always the recommended option.

So if your expertise lies more in coordinating weddings and graduation parties, then just focus on doing that.

new business ideas in the world

124.  Inflatable Rentals

Jumpers and other pop-up inflatables are the staples of many parties. Fun for guests of all ages, people are always looking for a nearby spot to rent a bouncy castle.

Depending on your intended brand image or niche, buying inflatables out-right costs  anywhere from $300-$3,000.

Considering you can set your hourly rates and don’t have to do much other than setting up and deflating the jumper, this is a pretty sweet business model.

new business ideas in the world

125.  E-Book Publishing

Self-help and personal growth matter to Americans, which has  caused the industry to balloon to $10 billion in 2016.

E-books serve as the perfect resources for those looking for self-help material; people can read directly from their devices without lugging around a paperback.

With platforms like Amazon’s Kindle, you can even publish your e-book completely free and make money from your efforts (while giving Amazon its cut).

new business ideas in the world

126.  Journalist

Journalists seek out exciting and newsworthy content to share with the public. 

The best part is many aren’t stuck to their desks, they’re constantly on the move to find their next story.

The dangers and high stress surrounding this position make it a job primed for only the most daring and passionate reporters.

Relationships and pitches are everything to a journalist’s small business, so make sure you have those networks in place before making the jump blind.

new business ideas in the world

127.  DJ

You’ve definitely gotta have the talent to perform this job well. Possessing those killer mixing skills could provide you with healthy cash flow.

Snagging regular DJ gigs either full or part-time can put between $500-$1,000 in your pocket per gig.

Get 10 gigs per month and that’s a minimum of $5,000 per month.

DJ’s need specific equipment to run the show which can get expensive in the beginning, but you can make your investment back after a few gigs.

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Our #1 Recommendation is the Lead Generation Business

From my own personal experience, after years of finding ways to make money online, I've come to the conclusion that lead generation is still the best online business model.

And it is exploding today in demand.

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Millions of new business ideas are waiting out there to be explored, each with its own risks and downfalls.

Lead generation has always remained a consistent way to generate income on a nearly-passive basis. Once a site is built out and ranking, I do nothing more than collect checks to invest in the next project.

I follow six simple steps, each time in order, and I've got myself a full-scale digital marketing agency.

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I built this site years ago and it's still netting me $2,000 month after month:

Local lead generation is the only business model I know of that requires very little upfront investment in exchange for a sustainable and residual form of income.

We have a lead generation coaching program that has taught over 6800 students how to build this business from the ground up.

So... What Do You Think?

You can create a business out of just about anything these days.

Before partaking in any business venture, it's important to do your homework so you know what you're getting yourself into.

Is there anything you didn't see on the list that needs to be added?

Let me know in the comments below.

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How to Come Up with an Innovative Business Idea

Aspiring female entrepreneur researching innovative business ideas on a laptop

  • 21 Jul 2020

Entrepreneurship is the pursuit of opportunity beyond currently controlled resources. By definition, entrepreneurs seek to fill a need in a new way.

For aspiring entrepreneurs, however, generating strong, novel business ideas can be challenging.

If you’re interested in being an entrepreneur , brainstorming ways you can satisfy needs and solve problems is a good place to start.

Remember the golden rule of brainstorming: There are no bad ideas. As your thoughts flow, jot them down so you can later prune the list to focus on your strongest concepts.

Here are some thought-starters for coming up with innovative business ideas and examples of how entrepreneurs have used them to build successful companies.

Access your free e-book today.

How to Come Up with a Business Idea

Is there an easier way.

One place to start brainstorming potential business ideas is by asking yourself, “What task can I make easier?”

A common denominator for successful businesses is their ability to fulfill customer needs . In this case, the need is to create a product or service that makes people’s lives easier.

Related: How to Identify an Underserved Need in the Market

The most innovative businesses have flourished from simple ideas. For example, HelloFresh has taught people how to cook and provided tools to prepare meals more efficiently. It started with a need to make meal planning and grocery shopping easier. By preparing meal kits that directly fulfill busy people’s needs, this idea has seen major growth.

Check out our video on how to come up with innovative business ideas below below, and subscribe to our YouTube channel for more explainer content!

This method of creating a product to fill a need can be viewed through the lens of Harvard Business School Professor Clayton Christensen’s jobs to be done theory , which he presents in the online course Disruptive Strategy .

“A ‘job to be done’ is a problem or opportunity that somebody is trying to solve,” Christensen says. “We call it a ‘job’ because it needs to be done, and we hire people or products to get jobs done.”

Look for these kinds of opportunities in your own life. Every “job” presents an opportunity to create an easier way to get it done.

By centering your business plan on a particular need, you can increase your chances of building a profitable business.

Related: Jobs to Be Done: 4 Real-World Examples

Can I Make This More Accessible?

There are many useful products and services that aren’t readily available to the entire market, creating an opportunity to produce a similar, more accessible product offering.

The founding of Airbnb by Brian Chesky and Joe Gebbia is an example that HBS Professor William Sahlman uses in the online course Entrepreneurship Essentials .

“Chesky and Gebbia observed how hard it was to find housing during big local events,” Sahlman explains. “They decided to list online three air beds in their apartment for people coming to San Francisco for a design conference.”

From there, they added a third member to their founding team, Nathan Blecharczyk, who built the platform for connecting people with spare rooms to travelers needing a place to stay. They called it AirBed and Breakfast, which later became Airbnb .

Chesky and Gebbia noticed hotel rooms weren’t easy to book during large events, recognized a business opportunity, and devised a solution to fulfill a need for accessible, short-term lodging.

There are countless industries and companies whose offerings are inaccessible to certain market segments or during specific periods. Consider how you might fill those needs.

Related: 10 Characteristics of Successful Entrepreneurs

What Can I Improve About This?

For every successful product offering, there's a multitude of ways to make it better. Think of companies you admire and imagine how you could improve their products. As you do so, consider the following four factors.

Graphic showing four factors to consider to improve a product: delivery process, location, cost, and customer experience

1. Delivery Process

Your business idea doesn’t have to be entirely new—it just has to fill a need. If you can identify a more convenient way of delivering an existing service, it could be an opportunity for your business.

Uber is used as an example in Entrepreneurship Essentials . Taxis have existed for decades, but Uber delivered its services in a new, innovative way by linking drivers in their own cars to customers via an app.

This example also shows there are no limits to what type of business you can create. Your business’ ability to fulfill a need will matter more than whether it’s a brick-and-mortar or online business.

Related: 3 Effective Methods for Assessing Customer Needs

2. Location

One of the simplest improvements to a product or service is bringing it to a new location.

Returning to the Uber example in Entrepreneurship Essentials , ride-sharing company Didi was founded in China—a location Uber hadn’t yet reached. Didi used a similar platform and model as Uber but filled a location gap Uber had left open.

What products, services, or concepts have you experienced in other places that you’d like to bring to your community?

Entrepreneurship Essentials | Succeed in the startup world | Learn More

One improvement that can make a significant impact is cost. Determining how to make a high-quality equivalent to a leading product and offer it for a fraction of the price has great potential.

Home security brand Wyze was founded using this logic. After four ex-Amazon employees discovered they could produce high-quality security cameras and sell them for one-tenth the cost of leading competitors, they sold one million security cameras in their first year as a company.

It takes testing to ensure product quality isn’t sacrificed for a lower price, but finding a way to reduce the cost of an in-demand item could jumpstart your entrepreneurial journey.

4. Customer Experience

Taking an existing offering and improving the customer experience for all or a segment of the market can be a valuable way to fill a need.

One example of an organization that’s done this well is Wanderful , a platform that, similar to Airbnb, connects travelers to locals who can offer lodging and travel advice—with the provision that all users are women.

Beth Santos, founder and CEO of Wanderful, noticed that female solo travelers made up 11 percent of the travel industry , which failed to take into consideration the safety, gender norm, and cultural concerns of women traveling alone.

She improved this experience by creating a network of women that can be tapped into for lodging, travel advice, or just a friendly face in a new location. Wanderful has since expanded its mission to give female and non-binary travelers voices in the travel industry through conferences, communities, and recognition programs.

If there’s an opportunity to improve the experience of a specific group of people, act on it and see where the opportunity leads.

Related: 6 Questions to Ask Before Starting a Business

Is It Time to Pivot?

When starting a business, you may need to pivot from your original idea as new needs arise in the market.

For instance, Jebbit , a tech startup that originally offered a platform to pay students for the advertisements they watched, saw a rising need for privacy and consent in the consumer data space. It pivoted to create a platform for secure, declared customer data.

Another instance in which it makes sense to pivot is during technological evolution.

In Disruptive Strategy , Christensen explains that technological advancements can be either sustaining or disruptive innovations , depending on how they impact your company.

Take Netflix : The service was created to allow people to watch movies without going to the video store and accomplished this by mailing DVDs to customers’ homes with prepaid return envelopes.

When streaming came on the scene in 2007, Netflix implemented the new technology into its business model and has continued to adapt as it’s evolved. Because Netflix was able to adopt new technology to continue serving its customers, streaming was a sustaining innovation.

In the case of video store Blockbuster , streaming was a disruptive innovation that it tried but couldn’t affordably adopt. It ultimately led the business to shut down.

When technological advancements arise, think of how your current business model could shift to use innovation as a sustaining force.

More Examples of Innovative Business Ideas

As you think of ideas for businesses, take inspiration from the world around you. Analyze the foundational needs other businesses have fulfilled for society and how they’ve adapted to what customers want.

Remember: As a future business owner, it’s critical to understand your company’s core mission. Focusing on that can help align your startup ideas and provide a greater chance for success.

To gain even more insight and inspiration, consider the following examples, which show how diverse your business model and mission can be.

Notarize , the first online platform for legally signing and notarizing documents is just one example of an online startup that discovered an overlooked need. For many, it’s a hassle to find a notary public to sign a document in person. This prompted Pat Kinsel, founder and CEO of Notarize, to make this difficult, but necessary, task more convenient.

"It really struck me that notarized documents are often some of the most important things people sign, and yet, we have this system that’s 100 years old," Kinsel said in an interview with Inc .

Kinsel designed the Notarize app to connect people to licensed notary publics via video chat so they can see their documents signed in real time.

This need for notarized documents seemed to be a common, but overlooked, need for many professionals. By thinking outside the box, Notarize seized a business opportunity and brought it to its fullest potential.

The development of Starbucks under former chairman and CEO Howard Schultz is another example that highlights how to efficiently choose locations for your brick-and-mortar.

“Schultz admired the sidewalk coffee shops he’d visited in Italy and decided he would introduce the same basic idea in the United States,” Sahlman says in Entrepreneurship Essentials. “That venture became Starbucks.”

Now, it’s rare to walk a few blocks without seeing a Starbucks on a corner. Strategic locations within high traffic routes created a customer base that’s made Starbucks an essential part of their lives.

Perhaps one of the most well-known companies in the world, Amazon is a prime example of fulfilling people’s need for convenience.

This e-commerce business made it the norm to buy items online—including books, music, movies, housewares, and electronics—and have them quickly and conveniently delivered.

Which HBS Online Entrepreneurship and Innovation Course is Right for You? | Download Your Free Flowchart

Think Like an Entrepreneur

Coming up with an innovative business idea isn’t difficult if you’re observant. By asking yourself key brainstorming questions, you can generate a list of business ideas that fill market needs, improve existing products, and make daily life easier and more enjoyable.

Do you want to turn an idea into a viable venture? Explore our four-week Entrepreneurship Essentials course, six-week Disruptive Strategy course, and other online entrepreneurship and innovation courses to discover how you can harness the power of innovation. Download our free course flowchart to determine which best aligns with your goals.

This post was updated on September 19, 2022. It was originally published on July 21, 2020.

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    3. 3D Printing Future Business Ideas. The 3D printing business is becoming one of the most profitable new business ideas nowadays. In the last few years, it is getting famous in all around the world because it has revolutionized the prototype manufacturing business. Due to its popularity, the demand for 3D printers is on the horizon.

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