If you are thinking of starting your new business, consider whether your idea is good enough or not. A good business idea can identify the needs of a target market, and give them a solution.
There are many business ideas you can think of, but you need to find the right one that will be a problem solver for your target audience.
While entrepreneurs are always looking for profitable and innovative business ideas, in this article, we’ll learn more about 19 unique business ideas in 2024 that you can use to start your online business.
1. Becoming a digital freelancer
Freelancing is becoming a popular industry and it has always been easy to get your freelancing business up and running if you have the in-demand skills and adequate time to do so. Currently, there are 1.57 billion freelancers worldwide, so it’s an exciting industry to be in.
As of now, the most popular industries in freelancing are:
- Content creation/writing
- Graphic design
- Web development and programming
- Digital Marketing
- Video editing and production
- IT support
- Business Consulting
- Sales and lead generation
- Photography
- Online tutoring and education
If you specialize in one of these industries, it’s now your time to start a new business.
2. Online reselling
If you are interested in selling online, you might want to start considering starting a new business with it. It does take dedication, but the positive side of starting an online reseller business is that you can dedicate as much time as you need to and turn it into a full-time job later on.
You can always consider flea markets for hidden finds at low costs and after, list them online for a profit. You most likely might find many items that are in good condition with little overhead costs if you search in the right areas.
3. Business Consulting
Business consulting is great since it allows you to work with many businesses on different problems. You could help business owners by helping them create their business plans, conduct market research, organize their management structure, or anything else they need.
Depending on your experience level, you can also help larger organizations with successful exit strategies, periods of restructuring, and provide them with executive-level advice when needed.
4. Customizable T-shirt printing
In an era where there are so many transactions made online, t-shirt printing is an excellent way to help you provide your target audience with customized t-shirts.
You can create different designs for your t-shirts based on what customers are asking for, and once you have a larger fanbase, you can consider showing the most popular designs on your website.
5. Teaching online
The demand for learning online is going up and has opened many new opportunities for entrepreneurs. The online learning industry is growing by as much as 9% each year so this means that it’s a trending industry that you can easily become part of if you have adequate teaching skills.
All you have to do is choose a subject you have more experience in and teach courses about it. If you don’t have advanced knowledge in any subject, you can always hire a team of experts to help you with this part. The long-term benefits you receive from teaching are high.
6. Translation services
Businesses that are targeting more than one market will always need translation services to reach a wider audience. There’s nothing better than entering a new market and localizing your services. After all, not everyone speaks English, so this is an important fact you need to know.
If you speak multiple languages or are bilingual, this is a huge plus for you and your business. A translation business is easily scalable and doesn’t require any start-up costs, making it a low-risk option.
7. Dropshipping
Dropshipping is an excellent option if you are someone who wants to make money, but not hold any inventory. It’s a business model that allows all online e-commerce stores to sell goods without having to invest too much in stock.
The most significant advantages dropshipping businesses have is their low-startup costs, flexibility, wide product variety, and scalability. However, as a startup, we always recommend you choose a niche that isn’t too competitive as this is a highly competitive industry.
8. Buying a franchise
If you have the financial capacity or have found a reliable funding source to help you out, buying a franchise could be one of the best business ideas you will ever implement. Many franchises aren’t always that expensive; in fact, you have franchises that can be bought for less than $10,000.
Franchises already have a brand reputation, so this is your start advantage. It helps you reduce the time required to build brand awareness and trust from scratch. Also, the other good news is that franchises receive continuous support from the franchisor. This includes assistance with the operations, staff training, supply chain management, and marketing.
9. Becoming an influencer
It’s not hard to become an influencer in today’s world. If you are someone who has an engaged audience and a good amount of followers, you can easily become an influencer on any social media channel. Revenue can be made from becoming an influencer by monetizing your influence in the following ways:
- Offering sponsored posts
- Affiliate marketing
- Offering exclusive content for subscribers
Taking an audience first approach for your small business means that you are the winner in the long-term. Many might be tempted to get into this industry because they think you need hundreds of thousands or millions of followers to start, but this isn’t true.
10. Website development
The world is in greater demand for website developers more than ever before. Currently, there are more than 27 million website developers worldwide and the number just keeps on growing over the years.
If you don’t know much about website development, there are plenty of online courses that will teach you about it. Otherwise, there are many web developers who are creating web building tools to help businesses build their website in the shortest time possible for a small fee.
Therefore, if you are a web developer or thinking of getting into this industry, you can start doing the same and you won’t regret it for sure.
11. Online bookkeeping
If you are an accountant or bookkeeper who wants more freedom of running their own businesses, taking advantage of bookkeeping tools is a great way to start your own services online.
Starting a bookkeeping business can be a rewarding venture, especially knowing that many small and medium-sized businesses are outsourcing financial tasks.
12. Graphic design
Are you someone who has a passion for designs? Logos, newsletters, ads are only a few design types that many hire designers to create for them. Online advertising agencies and websites need graphic designers.
To make your services more attractive, you can always offer clients bundle prices, and coordinate with print shops and content creators to help you with your graphic design business.
13. Videography
If you are good behind the camera and have good video editing skills, videography might be the right tool for you. If you don’t have the adequate experience, you can always get some filming and editing training to help you create high-quality content before you launch your video editing business online.
14. Real estate
Every community worldwide needs real estate agents. Regardless if you are buying or selling property, or even seeking real estate advice, there are many business opportunities in this sector.
The first step in making this possible is to become a licensed agent, and check up on local requirements. Most of the time, you’ll need to complete some coursework, but this will strongly depend on which area you live in.
15. Event planning
There are plenty of ways to launch an event-planning business. Here are some good ideas you would want to include:
- Kids birthday parties
- Private house parties
- Corporate events
Event planning is best done when you work with other businesses. Every time you organize big events, it’ll be a great opportunity for you to expand your client base.
16. Life and career coaching
Life and career coaching is becoming highly popular over the past decade, and many people are looking to realign their personal goals. In order to become a life and career coach, it’s important to note that your clients will look like this:
- Entrepreneurs looking to realign their work/life balance
- People looking to clear professional hurdles
- Fresh graduates looking to take a direction in their career
- Clients looking for a second career
- Those who are lost in their career
Many career coaches might not have any certifications or standard licenses, but the amount of credentials you can earn is what makes this industry successful.
17. App developer
If you are someone that is experienced in creating apps, you would want to consider starting an online business with your personal services. Mobile devices are continuously on the rise and many worldwide users are increasing their demand for new apps. This means that if you are an app developer, this is great news for you!
18. Transcription services
Transcription services are becoming increasingly popular and are a great opportunity for you to work from home and have flexible working hours. The choice is yours, and flexible work is beneficial if you are looking to commit fully to your new business.
19. Writing resumes
People are always looking for a change in their life, whether it includes making a shift in their career, increasing their salary, or even switching work environments. Writing resumes for clients can help them stand out from competitors during their job application.
Additionally, you can help clients create their portfolios and cover letters that show their achievements, best work, and why they are the right fit for the job they are applying to.
It’s now time to put your business idea to the test
Now that you’ve learned more about unique business ideas you can use, it’s time to put your creativity to the test. Your idea will depend on which industry you are looking to start a new business in and your skill level.
If you think you lack the necessary skills, you can always hire experts to start helping you with your business idea. The online world has made it so easy to reach out to people, so implementing ideas for your new business hasn’t ever been easier.