50 Business Ideas for New Entrepreneurs in 2024

Updated


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Technology has made starting your own small business easy, affordable, and possible. All you need to start a company online is an internet connection, web hosting, and a domain name. The biggest challenge, however, is coming up with a viable and unique small business idea.

Ready to snag web hosting and a domain? Our featured hosting partners provide a free domain name for the first year when you sign up for a hosting plan to help keep costs as low as possible.

Ideally, the perfect small business idea for you fulfills three important criteria:

  1. An activity you like doing
  2. Something you are good at
  3. Something in demand (i.e., people would pay for)

To help get you get started, we’ve come up with a list of online and offline business ideas that are easy to start. We have categorized each idea as follows:

  • Business type–is it an online or offline opportunity?
  • Investment–how much does it cost to start?
  • Earning potential–how much can you realistically earn?

We also indicate which ideas are well-suited to stay-at-home parents, undergraduate students, and those under 18.

Business to Business (B2B) Service Ideas

1. Online bookkeeping

Like many other professions, bookkeeping has gone online. This is great news for many bookkeepers and accountants who feel trapped in the office environment and long for more personal freedom and the ability to work during their own hours.

With easy-to-use accounting software and appointment-setting tools available, it’s never been easier to set up and manage client accounts.

  • Business type: Online
  • Investment: Low investment ⬇︎
  • Potential: Low value ⬇︎
  • Good for: Stay at home parents ✔

2. Business broker

A business broker assists the transaction between buyers and sellers. They must have adequate training and comprehensive knowledge of business law and standard practices in their respective industry. Business brokers are rewarded with commissions for the sales they make.

  • Business type: Online
  • Investment: Low investment ⬇︎
  • Potential: High value ⬆︎
  • Good for: Undergraduate students ✔

3. Office space rental

Office sharing is a booming industry largely driven by the needs of young entrepreneurs creating the next Google or Amazon.

If you already own a suitable property, you will only have to bear relatively low startup costs. However, this is a substantial investment if you don’t already have suitable property.

  • Business type: Offline
  • Investment: High investment ⬆︎
  • Potential: High value ⬆︎
  • Good for: Stay at home parents ✔

4. Language translation

Despite the impressive advancements of machine translation, the demand for skilled translators is still high value and will probably remain so for quite some time.

You can start looking for work on platforms such as Fiverr or Upwork and slowly build your clientele. It’s also a good idea to directly contact popular bloggers or a freelance writing business and ask if they would consider having their blog work translated into another language.

  • Business type: Online
  • Investment: Low investment ⬇︎
  • Potential: Low value ⬇︎
  • Good for: Stay at home parents ✔ undergraduate students ✔

5. Importing electronic original equipment manufacturer gadgets

If you look at top-selling items on Amazon or eBay, you will probably notice many are imported. The formula is fairly simple: purchase your initial inventory, create a brand, and then market and advertise your products online.

You can even use dropshipping or Amazon fulfillment services to do the whole thing and increase your average order value without a physical warehouse.

  • Business type: Online/offline
  • Investment: High investment ⬆︎
  • Potential: High value ⬆︎
  • Good for: Stay at home parents ✔ undergraduate students ✔ kids and teens ✔

6. Affiliate marketing

Affiliate marketers promote products made by other people and then earn commissions on their sales. Amazon is easy to get accepted into and currently the most popular platform for affiliate marketing, but there are many alternatives as well. Affiliate marketing is often combined with blogging to create a seamless mix of content and promotion.

  • Business type: Online
  • Investment: Low investment ⬇︎
  • Potential: High value ⬆︎
  • Good for: Stay at home parents ✔ undergraduate students ✔ kids and teens ✔

7. Data analyst consulting

With the rise of big data, an increasing number of companies need to make sense of heaps of information to adjust overall business strategies. A data analyst has the technical expertise to do this and often has a background in economics, mathematics, or finance.

Data analysts who work for large international corporations can earn more than enough money to support extravagant lifestyles.

  • Business type: Online
  • Investment: Low investment ⬇︎
  • Potential: High value ⬆︎
  • Good for: Stay at home parents ✔

8. Niche interest website owner

New trends start every day, and some become pop culture sensations. Your job as a niche website owner is to capture the market before it gets too saturated.

Creating a niche-interest website (using WordPress) will allow you to secure your place on the top of search engines, resulting in thousands of daily visitors. Using a tool like StudioPress can make this even easier. Blogging will grow your audience.

Ready to begin? Step one is choosing the right host. Bluehost our top recommendation for most because of it’s affordable price point, beginner-friendly onboarding process, and any time customer support.

  • Business type: Online
  • Investment: Low investment ⬇︎
  • Potential: High value ⬆
  • Good for: Stay at home parents ✔ undergraduate students ✔ kids and teens ✔

9. Search engine optimization consultant

Search engine optimization (SEO) is an absolute necessity for anyone who wants to be relevant on the web.

A capable SEO consultant can turn a dying business into a prosperous operation in a matter of months. The best SEO professionals can earn as much as seasoned software developers.

  • Business type: Online
  • Investment: Low investment ⬇︎
  • Potential: High value ⬆
  • Good for: Stay at home parents ✔ undergraduate students ✔ kids and teens ✔

10. Business incubator

The role of a business incubator is to help new companies and startups plan and begin small businesses successfully. A typical business incubator will provide clients with management training, office space, high-speed internet connectivity, and other necessities.

You don’t have to think too big – being a small, local incubator can be the perfect place to start.

  • Business type: Offline
  • Investment: High investment ⬆︎
  • Potential: High value ⬆︎
  • Good for: Stay at home parents ✔ undergraduate students ✔

Arts and Media Business Ideas

11. Self-publishing

Some self-published authors earn as much as $100,000 yearly. You can achieve the same kind of success — and all you need is a few freely available tools and the ability to write a compelling book that will sell.

You don’t have to earn six figures to succeed with self-publishing. Just a few hundred extra dollars every month can go a long way. Many self-publishers begin with freelance writing or a simple website, relying on web hosts like Bluehost to get started.

  • Business type: Online
  • Investment: Low investment ⬇︎
  • Potential: High value ⬆︎
  • Good for: Stay at home parents ✔ undergraduate students ✔ kids and teens ✔

12. Social media consultant

This business is ideal for someone who knows how to use social media to obtain business objectives. You can specialize (e.g., in running ads on Facebook and other social media platforms), or be a generalist social media manager who can navigate LinkedIn, Snapchat stories, Twitter, and more accounts. Social media tools make this management easier.

While some social media consultants can earn big bucks, most can only manage to earn an average wage.

  • Business type: Online
  • Investment: Low investment ⬇︎
  • Potential: Low value ⬇︎
  • Good for: Stay at home parents ✔ undergraduate students ✔

13. Content writer

Businesses of all sizes embrace content marketing as their primary way of attracting customers and establishing their position as market leaders.

A content writer should be able to digest complex topics and turn them into engaging posts quickly and well-optimized for search engines. As such, it’s great for people who know a little bit about everything.

  • Business type: Online
  • Investment: Low investment ⬇︎
  • Potential: Low value ⬇︎
  • Good for: Stay at home parents ✔ undergraduate students ✔

14. Podcasting

Podcasting is a fantastic way to make a few bucks on the side for anyone who deals with interesting or niche topics suitable for this format. There are already dozens of entrepreneur and business-focused podcasts out there.

Do you like video games or ethnic music? Interested in startups and entrepreneurship? Plenty of people would look forward to hearing your show on their way to work or school. Check out our full guide on how to start a business podcast to learn more about the process.

  • Business type: Online
  • Investment: Low investment ⬇︎
  • Potential: Low value ⬇︎
  • Good for: Stay at home parents ✔ undergraduate students ✔ kids and teens ✔

15. Blogging

Blogging is still alive and thriving. While it’s technically free to get started, you’ll have to be patient: it will take a while to get exposure and grow your audience. These days, the competition is fierce. Good knowledge of SEO is essential, as is the ability to create excellent content.

For anyone serious about starting, growing, and monetizing a blog, we recommend Bluehost + WordPress as the best place to get started. It’s easy to use, affordable, and flexible to match your needs & skills as you grow.

  • Business type: Online
  • Investment: Low investment ⬇︎
  • Potential: High value ⬆︎
  • Good for: Stay at home parents ✔ undergraduate students ✔ kids and teens ✔

16. On-demand/streaming video content

PewDiePie is one of the biggest YouTube stars with over 111 million subscribers. His journey to stardom started in his room with a humble webcam and one simple Let’s Play video, which he does to this day.

Beyond live game streaming, there are still vast, unexplored seas filled with opportunities for anyone on YouTube who dares to go after them.

  • Business type: Online
  • Investment: Low investment ⬇︎
  • Potential: High value ⬆︎
  • Good for: Stay at home parents ✔ undergraduate students ✔ kids and teens ✔

17. Handmade goods

If you are a crafty person, look at Etsy, the largest online market for homemade and vintage goods.

You will find an amazing mix of leather wallets, lamps made from river wood, unique hand-printed t-shirts, jewelry, organic soup, and countless other things. Top sellers often expand beyond the platform, creating their own brands and opening stores across the globe.

Keep in mind you can sell your products on more than one site, including your own with an ecommerce platform like Shopify & BigCommerce.

  • Business type: Offline
  • Investment: Low investment ⬇︎
  • Potential: High value ⬆︎
  • Good for: Stay at home parents ✔ undergraduate students ✔ kids and teens ✔

18. Antique refurbishment

If you like working with wood and beautiful, valuable objects in general but don’t have the drive to create your own, antique refurbishing could be your ticket to success.

Depending on what you do exactly, you don’t need to invest a lot of money to get started, but you will need to travel across the country to get the best pieces on which to work.

  • Business type: Offline
  • Investment: Low investment ⬇︎
  • Potential: Low value ⬇︎
  • Good for: Stay at home parents ✔

19. WordPress themes

Are you a web developer or designer who earns passive income from a side business? If so, creating WordPress themes might be the right path for you. You can sell your themes on websites like Envato Market.

Once your theme is finished, you will still need to provide customers with ongoing support and updates, but can do so when you please.

  • Business type: Online
  • Investment: Low investment ⬇︎
  • Potential: High value ⬆︎
  • Good for: Stay at home parents ✔ undergraduate students ✔ kids and teens ✔

20. Drone videographer

If you like piloting drones, perhaps consider working as a drone videographer. You get to go to interesting places, meet cool people, and eventually develop a portfolio that could land you a job in Hollywood or a high-paying company in the real estate industry.

Professional drones are expensive, but you can start small with a midsize one and a GoPro camera and go from there.

  • Business type: Offline
  • Investment: High investment ⬆︎
  • Potential: High value ⬆︎
  • Good for: Undergraduate students ✔

21. Subscription service

The main advantage of the subscription model is its predictable nature. As the number of your subscribers rises, you will know exactly how much you can expect to earn every month. Platforms like Patreon or Ko-fi are great ways to connect with fans who support you monthly.

The largest subscription services in the world are well-oiled machines that generate hundreds of thousands of dollars in revenue.

  • Business type: Online
  • Investment: High investment ⬆︎
  • Potential: High value ⬆︎
  • Good for: Stay at home parents ✔ undergraduate students ✔ kids and teens ✔

Education-Related Business Ideas

22. Language teacher

For a long time, language teaching has been the go-to side business to make money for students and even full-time high school or university teachers. Now, with Skype and ubiquitous internet access, everyone can start teaching languages from the comfort of their home.

You don’t even have to know any foreign languages yourself – there are many advanced learners who are happy to practice their conversation skills.

  • Business type: Online
  • Investment: Low investment ⬇︎
  • Potential: Low value ⬇︎
  • Good for: Stay at home parents ✔ undergraduate students ✔ kids and teens ✔

23. Online course creator

One of the most popular platforms where people can access massive open online courses (MOOCs), Coursera, has more than 100 million users hungry for knowledge. Such courses go far beyond the traditional high school curriculum.

If you have any skill you think people might be interested in, there’s nothing stopping you from giving it a go. All it takes is a web camera, capture software, and basic editing skills.

  • Business type: Online
  • Investment: Low investment ⬇︎
  • Potential: High value ⬆︎
  • Good for: Stay at home parents ✔ undergraduate students ✔ kids and teens ✔

Hospitality and Food Services Business Ideas

24. Hostel owner

With services like Airbnb, anyone can turn their house, garage, or single room into a unique accommodation for tourists and travelers from all around the world.

The platform takes care of the initial exposure and provides a way for owners and clients to communicate. If you happen to own a house in an attractive destination, you can even expect to earn good money.

  • Business type: Offline
  • Investment: High investment ⬆︎
  • Potential: High value ⬆︎
  • Good for: Stay at home parents ✔

25. Event planner

The internet has enabled people to connect with like-minded individuals from across the globe, creating the best small business opportunity for event planners.

Event planning requires organizational skills to manage an event like a wedding or a trade show. Money can then be made from entrance fees, sponsorships, on-premise sales to attendees, and more.

  • Business type: Online
  • Investment: Low investment ⬇︎
  • Potential: High value ⬆︎
  • Good for: Undergraduate students ✔

26. Food truck

Do you like to cook and always like coming up with new, creative ideas? Then opening a food truck might be just for you.

  • Business type: Offline
  • Investment: High investment ⬆︎
  • Potential: High value ⬆︎
  • Good for: Undergraduate students ✔

27. Catering business

These days, starting a catering business is all about finding the right niche. You can specialize in whatever type of food you like, any type of clients, and any type of venue.

You can cater to young professionals who want to organize networking events or be known as the go-to caterer for children’s parties. Picking a specialty can help you find underserved clientele.

  • Business type: Offline
  • Investment: High investment ⬆︎
  • Potential: High value ⬆︎
  • Good for: Stay at home parents ✔ undergraduate students ✔

28. Craft beer brewing

Producing small amounts of beer has recently turned into a popular hobby and fantastic business opportunity.

You will need to invest in equipment, acquire the necessary knowledge, and possibly even employ a handful of people to help you with the entire initiative. But seeing the finished product being served to customers in your favorite pub will be a wonderful reward.

  • Business type: Offline
  • Investment: High investment ⬆︎
  • Potential: High value ⬆︎
  • Good for: Stay at home parents ✔

29. Gluten-free bakery

This is just like a regular bakery, only gluten-free. While starting a small home bakery won’t cost you much, a larger commercial operation is expensive.

You can get the necessary equipment for a competitive price if you search for used commercial components online. Learn how to use blogging to increase awareness of your business and grow revenue.

  • Business type: Offline
  • Investment: High investment ⬆︎
  • Potential: High value ⬆︎
  • Good for: Stay at home parents ✔ undergraduate students ✔ kids and teens ✔

30. Guided tours

Are you situated in a popular tourist destination? If so, you may consider yourself lucky.

Starting a guided tours business can be a good opportunity. You can use it to make extra money during the summer, or it can be the start of a much larger business that employs other people to work as guides. Consider setting up a website that enables people to book tours online.

  • Business type: Online
  • Investment: Low investment ⬇︎
  • Potential: Low value ⬇︎
  • Good for: Stay at home parents ✔ undergraduate students ✔ kids and teens ✔

Technology Business Ideas

31. Mobile application developer

Mobile applications are more popular than ever, and people are willing to pay good money for ways to manage their lives from their smartphones.

If you have a great idea and know how to code, you can run with it and create your app yourself.

Plenty of software developers collaborate with people on app creation if you just have an idea and need graphic design.

  • Business type: Online
  • Investment: Low investment ⬇︎
  • Potential: High value ⬆︎
  • Good for: Stay at home parents ✔ undergraduate students ✔ kids and teens ✔

32. Virtual reality/augmented reality app developer

The virtual reality (VR) software market is expected to reach $29.17 billion in revenue during 2022-2026. A good chunk of that revenue could be in your pocket.

All you have to do is learn how to develop immersive VR and augmented reality (AR) experiences. The internet is full of resources and communities of like-minded people to help you along the way.

  • Business type: Online
  • Investment: Low investment ⬇︎
  • Potential: High value ⬆︎
  • Good for: Stay at home parents ✔ undergraduate students ✔ kids and teens ✔

Video: Get an introduction to virtual reality by creating a VR app for Android in 15 minutes.

33. Virtual reality arcade owner

The first batch of VR arcades is just starting to pop up in some of the world’s largest cities.

Virtual reality is the perfect fit for arcades and could really bring new life to this dying business. The technology is still not 100% there, but it probably will be soon.

  • Business type: Offline
  • Investment: High investment ⬆︎
  • Potential: High value ⬆︎
  • Good for: Stay at home parents ✔ undergraduate students ✔

33. Indoor drone racing venue

Drone racing is expected to be a multimillion-dollar sport within the next few years.

If you have a suitable indoor venue where you could host races or let people practice their flying skills, definitely consider this business. Additional income could be made from posting the footage online.

  • Business type: Offline
  • Investment: High investment ⬆︎
  • Potential: High value ⬆︎
  • Good for: Stay at home parents ✔ undergraduate students ✔ kids and teens ✔

34. Energy auditor

Green energy solutions can lead to dramatic savings, allowing some people to completely drop from the grid.

As an energy auditor, you will help businesses and individual home and apartment owners find ways to decrease their energy footprint as well as their monthly bills.

  • Business type: Offline
  • Investment: Low investment ⬇︎
  • Potential: High value ⬆︎
  • Good for: Stay at home parents ✔ undergraduate students ✔

35. 3D printing services

3D printing is taking the world by storm, and you can be part of this revolution if you invest in a high-quality 3D printer and offer it to other people.

They simply send projects for you to print and pick up, or you can send things in a box.

  • Business type: Offline
  • Investment: High investment ⬆︎
  • Potential: High value ⬆︎
  • Good for: Stay at home parents ✔ undergraduate students ✔ kids and teens ✔

36. E-bike repair services

E-bikes are finally becoming affordable for the average consumer. But most traditional bike shops lack the necessary expertise that would allow them to service the often complex electronic components found inside.

If you feel up to the task, this could be a tremendous opportunity to become the biggest player in your local area.

  • Business type: Offline
  • Investment: High investment ⬆︎
  • Potential: High value ⬆︎
  • Good for: Stay at home parents ✔ undergraduate students ✔ kids and teens ✔

37. Web development

As long as there will be a web, there will be a need for web developers.

Modern web development requires more than mastering HTML with CSS and perhaps learning PHP or JavaScript. Any web developer who wants to be competitive must become familiar with various frameworks, supporting technologies, web designs, and trends.

Taking low-cost courses online is a good place to start.

  • Business type: Online
  • Investment: Low investment ⬇︎
  • Potential: High value ⬆︎
  • Good for: Stay at home parents ✔ undergraduate students ✔ kids and teens ✔

38. Smart home contractor/consultant

Modern smart home solutions can do everything from remotely controlling light bulbs or air-conditioning in your house to a health-monitoring application on your smartphone. However, not everyone is in a position to set up or maintain the complex systems that make these conveniences possible.

  • Business type: Offline
  • Investment: High investment ⬆︎
  • Potential: High value ⬆︎
  • Good for: Undergraduate students ✔

Personal Services Business Ideas

39. Dog walker

Dog walking usually involves walking the dog from its home and then returning.

A dog walker can either be an individual or part of a business like Rover. They will be paid for walking or for pet sitting.

  • Business type: Offline
  • Investment: Low investment ⬇︎
  • Potential: Low value ⬇︎
  • Good for: Undergraduate students ✔ kids and teens ✔

40. Personal shopper

Shopping for groceries, clothes, or electronic goods can eat up a lot of time. A personal shopper can help busy people reclaim this time in exchange for a small fee.

You can go to stores in person, or give online recommendations about which products the client should buy.

  • Business type: Offline/online
  • Investment: Low investment ⬇︎
  • Potential: Low value ⬇︎
  • Good for: Undergraduate students ✔

41. Mobile pet grooming

As more and more people are postponing or foregoing the decision to have children, their attention turns to their pets.

Many owners are willing to pay as much as several hundreds of dollars to give their beloved pets a makeover. If you start a pet grooming business, set up a website that enables visitors to book appointments online.

  • Business type: Offline
  • Investment: High investment ⬆︎
  • Potential: Low value ⬇︎
  • Good for: Undergraduate students ✔

42. Decluttering services

With the tremendous success of “The Life-Changing Magic of Tidying Up” by Marie Kondo, there has been a surge in demand for decluttering services. People need to get rid of useless things that become an emotional burden.

This business is far from being just a cleaning service in disguise. More often than not, people will be unwilling to give up even what’s clearly just trash, so you must also have a good understanding of human psychology.

  • Business type: Offline
  • Investment: Low investment ⬇︎
  • Potential: Low value ⬇︎
  • Good for: Stay at home parents ✔ undergraduate students ✔

43. Green cleaning services

The only thing that differentiates green cleaning services from regular cleaning ones is the type of products used. But this simple thing can turn otherwise unattractive businesses into something highly desirable.

People in upscale neighborhoods are willing to pay a lot of extra money just to know they are helping to preserve the environment.

  • Business type: Offline
  • Investment: Low investment ⬇︎
  • Potential: Low value ⬇︎
  • Good for: Stay at home parents ✔ undergraduate students ✔

44. Beard care products

You can start your own beard care brand with a few cheap ingredients available online. When you create a good product, all you need to do is take care of its marketing and bulk manufacturing.

  • Business type: Online/offline
  • Investment: Low investment ⬇︎
  • Potential: Low value ⬇︎
  • Good for: Stay at home parents ✔ undergraduate students ✔ kids and teens ✔

45. Pet daycare

If you love animals and pet sitting and have enough room to spare in your house, you can start a pet daycare business.

There’s not much to it: pet owners leave their animals whenever they have to go out for a longer time, and your job is to provide everything they need and ensure that the pets will be happy.

  • Business type: Offline
  • Investment: Low investment ⬇︎
  • Potential: High value ⬆︎
  • Good for: Stay at home parents ✔

46. Daycare service

Even though you can start a childcare service from your home, it’s best to still prepare for a large investment.

If you live in a large city, definitely consider catering to a niche group of parents and charging premium prices for your services. You could focus on children with specific allergies or serve only organic food.

  • Business type: Offline
  • Investment: High investment ⬆︎
  • Potential: High value ⬆︎
  • Good for: Stay at home parents ✔

47. Sustainable landscaping

Sustainable landscaping business uses strategies to avoid negative environmental problems like excess stormwater run-off, drinking water pollution, and invasive species propagation.

These landscapes often feature shade structures and bike racks made from recycled materials, wireless irrigation systems, native grasses, and large, open areas for sports and leisure.

  • Business type: Offline
  • Investment: Low investment ⬇︎
  • Potential: High value ⬆︎
  • Good for: Stay at home parents ✔ undergraduate students ✔

Health Care Business Ideas

48. Medical courier service

This low-cost startup is an attractive option for those who are organized, responsible, and have a reliable vehicle. Medical couriers may deliver equipment, lab specimens, prescription drugs, documents, or even organs.

Couriers make an average of $36 an hour or over $70,000 a year. You can start as a sole driver and then expand by hiring other drivers. Consider forming a limited liability company (LLC).

  • Business type: Offline
  • Investment: Low investment⬇︎
  • Potential: High value ⬆︎
  • Good for: Undergraduate students ✔

49. Respite care

This business provides planned temporary relief to adult caregivers of elderly parents. This non-medical work may entail a few hours a week of assistance or stepping in while the caregiver takes a vacation.

Individual providers of respite care can expect to earn between $20 to $40 per hour or an average of $54,000 per year. You can start the business as a solo provider and then expand it into a highly profitable venture.

  • Business type: Offline
  • Investment: Low investment ⬇︎
  • Potential: High value ⬆︎
  • Good for: Undergraduate students ✔

50. Growing medical marijuana

If you live in a state or country where medical marijuana is legal, you can consider starting your own growing operation. The initial setup can be costly, but your days will be spent taking care of a wonderful plant and helping people improve their health and well-being in general.

  • Business type: Offline
  • Investment: High investment ⬆︎
  • Potential: High value ⬆
  • Good for: Stay at home parents ✔

Don’t Forget To Form Your Business

Once you’ve decided to set up a new company, the most important next step is to form your business and create a website. Most small businesses are set up as an LLC. This keeps all your assets separate from the company’s, limiting your personal liability while giving the pass-through tax benefits of being a sole proprietor.

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