41 Profitable Data Science Business Ideas [2024]
Data scientists are in high demand, and there are many different business ideas for them to consider.
Some of the most popular data science business ideas include:
- Consulting - Data scientists can offer their expertise to companies to solve problems. They can help organizations make sense of their data and identify trends or anomalies.
- Build a startup - Data scientists who have a startup idea can start their own data analytics company.
- Product development - Data scientists may prefer to work for a larger organization where they have access to tons of data and resources.
Here's the full list of data business ideas:
1. Build an analytics tool
Analytics tools are software or apps that help people to make data-driven decisions. They do this by providing users with the ability to access, visualize, and analyze the data.
If you have strong technical skills, then this could be a profitable business idea for you.
QlikView is one of the best Self-Service Business Intelligence, Data Visualization, and Data Analytics tool. In 2022, QlikView generates $750M in revenue.
With the rise of big data, more companies are realizing the importance of data and are looking for ways to make use of it.
Building an analytics tool is a great business idea because it's a tool that can be used by businesses of all sizes. Small businesses can use it to make better decisions about their operations, while larger businesses can use it to track and improve their performance.
How much you can make: $20 — $1,500,000/month
How much does it cost to start: $4,750 (?)
How long does it take to build: 135 days (?)
Plausible Analytics, a privacy-friendly web analytics tool, reached $4,557 MRR and 743 paying subscribers by focusing on content marketing and engaging relevant communities, rather than paid advertising, while positioning itself as a lightweight, cookie-free and affordable alternative to Google Analytics.
2. Start a data science recruitment service
Data science recruitment is a service that helps companies to find and hire the best data scientists. This service offers a variety of features, including a talent database, job postings, and a matching algorithm.
If you are interested in starting a data science recruitment service. In that case, you should have a strong understanding of the data science industry and be able to identify the best talent. You should also be familiar with the various tools and platforms that data scientists use.
Glassdoor says that in 2021, ‘data scientist’ was the second most sought-after role in the United States, with an average salary of $113,736. According to the data of Glassdoor, over the past five years, this has been a pretty consistent salary expectation for data science roles in the US.
Starting a data science recruitment service is a great way to help companies find the best data scientists for their needs. This is a growing industry with a lot of potential, and there is a lot of demand for data scientists.
How much you can make: $250,000/month
How long does it take to build: 121 days (?)
Data science recruitment company Big Cloud shares how they grew their business to generate £250k per month through expanding into global markets and using social media and marketing strategies to attract and retain customers while keeping a strong focus on building honest, long-standing relationships with clients and candidates.
3. Create a web development course
A web development course is an educational program designed to teach individuals the skills and knowledge needed to create and maintain websites and web applications.
These courses typically cover programming languages, such as HTML, CSS, and JavaScript, as well as frameworks, databases, and other tools relevant to web development. Courses may be offered by educational institutions, online platforms, or coding bootcamps, catering to beginners or those looking to enhance their existing skills in the field of web development.
How much you can make: $500 — $236,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 60 days (?)
No Code MBA founder, Seth Kramer, has built a training platform for entrepreneurs who want to learn how to launch their very own businesses and build apps using no-code tools, recording over 150 real-world video lessons which have resulted in over 400 paid members in just 6-months and a focus on growing the No Code MBA community.
4. Start a customer intelligence analytics business
Customer intelligence analytics is all about understanding your customers and using that data to improve your business. It is a process of analyzing customer data to generate insights that can be used to improve business decisions.
Starting Customer intelligence analytics is a great business idea for those who are good at analyzing data and have strong communication skills. If you can help businesses to understand their customers better, then you will be in high demand!
VERINT is a global leader in Actionable Intelligence solutions. Verint's customer intelligence analytics platform helps organizations make sense of customer interactions and turn them into valuable insights. In 2022, Verint Systems Inc generates $1.3B in revenue.
This business idea is growing in popularity because it's a process that can be used by all businesses. Small businesses can use it to make better decisions about their marketing and sales strategies, while larger businesses can use it to improve their customer retention rates.
How much you can make: $100 — $840,000/month
How long does it take to build: 180 days (?)
EspoCRM, an open-source CRM application for small and mid-size businesses, has seen an average of over 16,000 downloads per year and makes up to $30k per month, offering efficient tools to systematize customer data, improve sales cycles, and automate routine administrative tasks.
5. Start a dating website
A dating website is a great way to connect people who are looking for love. It is a platform that helps people to find and connect with potential romantic partners. This service offers a variety of features, including a profile creation tool, a search engine, and a messaging system.
If you are interested in starting a business that helps people find love, then starting a dating website could be a great option for you. This business is growing in popularity as more people are looking for ways to meet partners online.
Tinder has taken over the world! It is so popular that it brings in revenues of $1.4B per year.
Some recent trends that are making dating websites more popular include the growth of the online dating market, the rise of mobile dating apps, and the increasing acceptance of online dating.
How much you can make: $1,300 — $833,333/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 45 days (?)
This case study follows Pat Stedman, founder of The Dynamic Man, LLC, and his journey to building a successful dating and relationship coaching business that now earns around $25,000 - $35,000 per month through coaching services and passive income products like his 19-hour video masterclass.
6. Start a saas company
SaaS (Software as a Service) is software that allows users to access and use it over the internet. It is a subscription-based service that provides users with access to software that they can use for their business. It offers a variety of features, including a project management tool, an automation engine, and a workflow designer.
To start a SaaS company you should be familiar with the SaaS business model and have a good understanding of how to build and market a SaaS product. You should also have strong technical skills and be able to develop a high-quality software product.
Salesforce is one of the best SaaS companies in the world. Salesforce provides an integrated CRM platform that brings companies and customers together. The company is one of the most innovative cloud software solutions providers on the market, generating nearly all its annual recurring revenue from SaaS tools. According to Salesforce's latest financial reports, the company's current revenue (TTM) is $26.49 B.
Starting a SaaS company is a great way to enter the tech industry. This type of company is growing in popularity as more businesses are looking for ways to save money and reduce their IT costs. SaaS companies typically have high margins and offer a lot of flexibility for entrepreneurs.
How much you can make: $20 — $20,833,333/month
How long does it take to build: 120 days (?)
Time commitment per week: Min. 5 hours/week
AI-powered web application, Excelformulabot.com, generates Excel formulas within seconds for a subscription fee of $6.99/month or free for five formula requests per month, resulting in $14k/month in recurring revenue since its launch in September 2022, accruing millions of visitors through word of mouth, influencer marketing, SEO, and PPC, implemented through no-code web application Bubble.io, while preparing to penetrate a B2B market and focus on B2B outreach in the future.
7. Build an iPhone app
The iPhone is the most popular mobile device in the world. It has changed how we interact with information, entertainment, and communication.
The iPhone has also changed the way we interact with each other. Since its release in 2007, it has become a staple in most people’s lives. It is more than just a phone; it is a tool for staying connected to friends and family and creating new connections.
The iPhone app market is an ever-changing landscape of innovation: it’s not just about making something that works well; it’s about creating something that stands out from the crowd.
It would help if you had something that appeals to your audience to succeed in this market. This can be as simple as ensuring your app has a catchy name or as complex as developing an entire brand identity around your app’s functionality.
How much you can make: $150 — $2,000,000/month
How long does it take to build: 190 days (?)
Time commitment per week: Min. 5 hours/week
Payment.co, an app built on top of the Stripe payment gateway for creating card-present charges, has grown to process over $70M in volume annually since launching in 2015, with the app collecting a 1% service fee on every single charge.
8. Start a CRM business
A Customer Relationship Management (CRM) software keeps track of prospects, clients and their contacts and also helps you monitor your sales pipeline as well as to create reports for business intelligence.
The CRM market is a $50B and growing industry.
How much you can make: $5,000 — $2,100,000/month
How long does it take to build: 105 days (?)
GreenRope, a self-funded CRM and marketing automation platform with over 1,000 customers in 20 countries, was built organically and focused on creating a positive, customer-centric culture without outside investment, with an all-in-one interface solving challenges in managing sales, marketing, customer service, and operations.
9. Develop an online survey tool
Online survey tools are a great way for businesses to gather customer feedback. They offer a convenient and cost-effective way to collect data from large groups of people. This service offers a variety of features, including a survey builder, a data collection tool, and a reporting system.
If you are interested in starting a business that helps businesses to gather customer feedback, then starting an online survey tool could be a great option for you. This business is growing in popularity as more businesses are using online surveys to collect data.
Typeform is a popular online survey tool that allows you to ask customers questions and get their feedback on the product. This can be used for many different purposes such as improving services or developing new products. Typeform told TechCrunch on the occasion of today’s funding announcement that its annual recurring revenue surpassed $70 million in 2021 after tripling over the preceding three years.
Building an online survey tool is a good business idea because there is a lot of demand for data collection. Businesses need to know more about their customers in order to be able to make better decisions.
How much you can make: $40 — $1,600,000/month
How long does it take to build: 180 days (?)
GreenRope, a self-funded CRM and marketing automation platform with over 1,000 customers in 20 countries, was built organically and focused on creating a positive, customer-centric culture without outside investment, with an all-in-one interface solving challenges in managing sales, marketing, customer service, and operations.
10. Start a data analytics blog
The rise of data-driven decision-making, the growth of the internet, and the increasing popularity of blogs are all trends that are making this business more popular. Data analytics is becoming increasingly important for businesses as they look for ways to make better decisions. The internet has made it easier for people to share information, and blogs are a great way to reach a wide audience.
A data analytics blog is a great way to share your knowledge and insights on data analytics with the world. This type of blog can be used to educate people on the latest trends in data analytics, share tips and tricks, or build brand awareness.
Some personal qualities that are important for this kind of business include being knowledgeable about data analytics, being able to write well, and engaging with your audience. It's also important to be able to keep up with the latest trends in data analytics so that you can provide your readers with the most up-to-date information.
Towards Data Science is one of the most popular blogs that publish a range of data analytics concepts, ideas, and code. According to Growjo, Towards Data Science's estimated annual revenue is currently $90.3M per year.
Starting a data analytics blog can provide you with a steady income stream and help you build a reputation as an expert in the field. Data analytics blogs can also be a great way to connect with other data analysts and learn about new trends and developments in the field.
How much you can make: $20 — $1,500,000/month
How long does it take to build: 90 days (?)
TapResearch generates roughly $1.5M in revenue per month through their Sample and Insights platforms, which allow market researchers to access survey respondents they need and make fast and easy decisions through a highly scalable respondent network that delivers surveys to hundreds of millions of people.
11. Start a data analysis service
A data analysis service is a great way to help businesses make sense of their data. This type of service can be used to provide insights into customer behavior, improve marketing campaigns, or simply help businesses make better decisions.
If you're interested in starting up a data analysis service, You will need knowledge in data analysis and the ability to communicate effectively with clients so they can benefit from what insights have been found by analyzing their information properly - this way it's not just about making money but also helping others!
iTechArt is a leading custom software development company that helps both startups and enterprises streamline their analytics process. They also generated revenue of $209 billion in 2019, while creating more than a million jobs over the past three years.
Starting a data analysis service is a perfect business idea for those with analytical skills and a desire to help businesses to make better use of their data. This business is in high demand and can be very profitable, with data analysts earning high salaries.
How much you can make: $20 — $250,000/month
How much does it cost to start: $3,500 (?)
How long does it take to build: 90 days (?)
Founder of PropertyData creates a subscription website for UK property investors and developers that is now making $128,000 per month in recurring revenue.
12. Build an online research software
As the business world grows more complex, the need for reliable and effective online research software becomes more important. Online research software can help businesses save time and money by providing access to a wealth of information.
This type of software is used for a variety of purposes, such as academic research, market research, or competitive intelligence.
For example, Trello is powerful online research software that can help you organize and keep track of your research projects. With Trello, you can create custom boards to track your progress on specific projects, set deadlines, and collaborate with other researchers. Trello's estimated annual revenue is currently $15.8M per year.
Online research software is a great tool for businesses looking to better understand their customer base. The data collected by this process can be rich and informative, as it includes insights that help you grow your business in ways other methods may not address as accurately or completely.
How much you can make: $5,000 — $1,500,000/month
How long does it take to build: 590 days (?)
TapResearch generates roughly $1.5M in revenue per month through their Sample and Insights platforms, which allow market researchers to access survey respondents they need and make fast and easy decisions through a highly scalable respondent network that delivers surveys to hundreds of millions of people.
13. Start a sports betting website
Sports betting has continued to become popular over the past years. Although sports betting is still not legal everywhere, the global betting market is huge and can be lucrative. If you love sports and looking for a profitable sporting-related business, you may consider starting a sports betting website.
However, before starting your sports betting website, make sure sports betting is legal in your state and that you have the required permits and licenses.
How much you can make: $30,000/month
How long does it take to build: 175 days (?)
Discover how Sean Green turned his sports gambling podcast into a multi-million media empire generating $30K/month in revenue and over a million downloads annually.
14. Start an ecommerce platform
Over the past decade, eCommerce has become an indispensable part of the global retail framework. According to statistics, over 2 billion people prefer shopping online.
While brick-and-mortar stores are still making more sales compared to online sales, the adoption of eCommerce is still rising, mainly because of the increased speed and convenience of online shopping.
Therefore, starting an eCommerce platform could set you on the right path to building a futuristic business.
How much you can make: $100 — $2,000,000/month
How long does it take to build: 150 days (?)
A 3D CAD designer and product inventor who started as a side hustle and averaged $9,000 a month in revenue, shares his insights on the ups and downs of owning a service-based business alongside an eCommerce store, as well as lessons learned in customer acquisition and in generating multiple streams of passive income.
15. Start a data mining and analytics tools business
What if you could turn raw data into actionable insights? Enter the world of data mining and analytics tools. This business focuses on developing software that extracts, processes, and analyzes vast amounts of data to uncover patterns, trends, and insights.
Getting started involves identifying key industries that would benefit from sophisticated data analysis—think finance, healthcare, and retail. You'll need a strong understanding of programming, statistics, and machine learning to create effective tools.
The demand for data-driven decision-making is skyrocketing, so there's a growing market for innovative analytics solutions. Picture providing businesses with the intelligence they need to make better strategic decisions, pioneering their success and driving industry transformations.
In essence, it’s a business idea that combines technical skill with a deep understanding of market needs, making it as challenging as it is rewarding.
How much you can make: $450 — $1,500,000/month
How much does it cost to start: $750 (?)
How long does it take to build: 107 days (?)
Parseur, the data extraction tool, helps businesses automate their data entry process, catering to multiple industries such as food delivery, real estate and marketing, and has grown to over $40k in revenue per month since its launch in 2017.
16. Start a robotic process automation software business
Streamline your business operations effortlessly with a robotic process automation (RPA) software enterprise. RPA software utilizes bots to automate repetitive, mundane tasks that were traditionally carried out by humans.
By developing and selling such software, you’ll help businesses reduce errors and improve productivity. Crafting intuitive, robust bots that can handle everything from data entry to customer interactions requires a keen understanding of both programming and the needs of your target market.
Starting an RPA software business demands initial technical expertise and a commitment to ongoing learning, but the potential rewards are substantial. As industries increasingly seek efficiency, your solutions could become indispensable, offering you a sustainable and scalable venture. If you’re drawn to innovation and the cutting-edge intersection of technology and business, this is an avenue worth exploring.
How much you can make: $14,000 — $830,000/month
How long does it take to build: 120 days (?)
Enterprise Bot CEO Pranay Jain discusses how he grew his AI chatbot platform to reach over $2 million in annual revenue, with plans to double that this year, and shares advice for aspiring founders on keeping a positive attitude and never stop learning.
17. Start a data management software company
In an era where data drives decision-making, launching a data management software company offers timely and significant potential.
Simply put, you’ll develop software solutions that help businesses organize, store, and analyze vast amounts of data efficiently. This involves creating intuitive interfaces, robust security protocols, and scalable architecture tailored to various industries.
Data management is critical for companies looking to harness their data for actionable insights and strategic advantage. By offering seamless data integration and reliable analytics, your software can become indispensable for clients seeking to stay competitive.
This venture promises both rewarding challenges and substantial market demand. Developing such software will require a solid technical background, investment in development, and continuous updates to meet evolving needs. But for those willing to put in the work, it’s a highly impactful business with significant growth potential.
How much you can make: $5,000 — $40,000/month
How long does it take to build: 120 days (?)
Pup-eeze, a wellness tracker for dogs that tracks activity, monitors location and automates their lives, was created by Chelsea Rhoads and Elizabeth Hess after realizing how difficult it was to travel with dogs, and now has a consumer-facing application for pet owners to monitor their pets' data and visualize trends.
18. Start a podcast
The podcast business involves creating and producing audio content that people can listen to online.
It’s a popular form of entertainment and information-sharing.
To start a podcast business on a budget, you'll need a few key steps.
First, choose a niche or topic that you're passionate about and that has an audience.
Next, get basic recording equipment like a microphone and headphones.
Then, find a free or affordable hosting platform to publish your episodes.
Finally, promote your podcast through social media, online communities, and word of mouth to build an audience and potentially attract sponsors or advertisers.
How much you can make: $400 — $1,020,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 60 days (?)
Time commitment per week: Min. 2 hours/week
A successful podcast production company that grew from one client making $15/hour to a team of 10 contractors producing over 30 shows per week with revenue of over $10k/mo, primarily through referrals and with a focus on providing high personal touch and being picky about working only with clients who are a good fit.
19. Start a data monetization business
Data monetization is about transforming your untapped data into a valuable stream of revenue. In simple terms, it involves collecting, analyzing, and selling data insights to businesses seeking to make informed decisions.
This business idea leverages the ever-growing amount of digital data generated by consumers and organizations alike. Imagine tapping into this goldmine with expertise in data science, analytics, and marketing. Your potential clients range from market researchers to advertisers, all hungry for data-driven insights.
Starting a data monetization business requires a deep understanding of data privacy laws, a robust infrastructure for data storage and processing, and strong analytical skills. It's not just about gathering data but also about extracting actionable intelligence that businesses are willing to pay for.
For those intrigued by the intersection of technology and business, this venture promises a compelling blend of analytical rigor and entrepreneurial excitement. Secure your niche in the data economy by turning raw data into business gold.
How much you can make: $150,000/month
How much does it cost to start: $100 (?)
How long does it take to build: 90 days (?)
Streamloots is a marketplace where viewers can buy real-time interactions with live streamers, allowing content creators to monetize their audiences and earning over $1M in just the last quarter with a community of more than 12K active streamers.
20. Start a data mining consulting business
Data mining consultants extract information to uncover hidden patterns, market trends, customer preferences, and other critical business information. Data mining applications include:
- Financial data analysis
- Retail industry
- Telecommunication industry
- Biological data analysis
- Intrusion detection
Are you looking for a well-paying business opportunity in the data science field? Consider becoming a data mining consultant.
How much you can make: $4,000 — $105,000/month
How long does it take to build: 90 days (?)
Addepto is an AI consulting business that has grown to over 30 employees and generated $1.26 million per year by offering customized solutions to clients, minimizing business risks with AI, integrating data from multiple sources, and optimizing logistic processes.
21. Start a music streaming app
Music streaming apps allow the consumption of audio content in different formats. The global music streaming market recently recorded a CAGR of 14.7%, and experts project it will reach $29.45 billion in the next few years.
The rising penetration of digital platforms and the growing use of smart devices are some factors boosting the market growth. Therefore, developing a music streaming app in 2024 can be a great chance to make money.
How much you can make: $70,000 — $150,000/month
How much does it cost to start: $3,000 (?)
How long does it take to build: 135 days (?)
Streamloots is a marketplace where viewers can buy real-time interactions with live streamers, allowing content creators to monetize their audiences and earning over $1M in just the last quarter with a community of more than 12K active streamers.
22. Start an enterprise content management software business
Struggling with managing vast amounts of content in your enterprise? Consider starting an enterprise content management (ECM) software business.
In simple terms, ECM software helps organizations manage digital content efficiently by streamlining document storage, retrieval, and collaboration.
With the growing volume of digital information, companies are increasingly seeking solutions to enhance productivity and maintain compliance. ECM software addresses these needs by organizing information in a centralized, searchable system, reducing time spent on manual tasks.
The main work involves developing robust software solutions, understanding client-specific requirements, and providing ongoing technical support. If you have a knack for software development and a keen eye for organizational workflows, this could be a promising venture.
Starting an ECM software business not only fills a critical market need but also offers the potential for consistent demand and long-term growth.
How much you can make: $40,000 — $500,000/month
How long does it take to build: 367 days (?)
Filestage is a content review and approval software that started in 2015 and now has over 600 customers and 50,000 users worldwide, offering an efficient approval process for digital content such as videos, images, pdf, podcasts, and entire websites.
23. Start a data analytics software business
Data analytics is a crucial aspect of an organization’s decision-making process. It involves the collection, analysis, and interpretation of data to gain insights and make informed decisions.
If you’re interested in starting a business in this field, the first step is identifying a particular industry or niche you want to serve.
Once you have a clear idea of your target market, you can begin developing user-friendly software that addresses that niche’s specific data analysis needs. This may involve creating custom reporting tools, dashboards, and other features that help your clients visualize and interpret their data.
Once your software is ready, you’ll need to market it effectively to potential clients. This may involve emphasizing the simplicity and efficiency of your tools and the value they bring to your client’s decision-making processes.
By focusing on your target market’s unique needs and challenges, you can build a successful data analytics business that delivers real value to your customers.
How much you can make: $1,000 — $4,200,000/month
How long does it take to build: 150 days (?)
Diesel Laptops, a B2B company that sells diesel diagnostic hardware, software, and services, successfully doubled revenue each year to make $20 million annually within three years, grew from its founder's garage and dining room table to a 21,000 square foot facility with over 90 employees by listening to customer pain points and offering the bundled products, technical support and repair information to attract and retain diesel technicians and repair shop owners.
24. Start a vr-based sports streaming service
Sporting is one of the domains where VR technology is put to use effectively and aggressively. VR technology enables users to amplify the sporting experience in nearly every field, including consuming content.
A Sports VR streaming service replicates the experience of being courtside at a game where a team is playing, so the user can view favorite sporting events in VR. The service provides a myriad of content, including live streaming sporting events such as the US Open, golden state warriors’ games, and other sports.
With a sports VR streaming service, no more paying for parking and expensive concessions! All the users need are VR headsets and can enjoy their favorite sports through the VR streaming service. Starting a VR streaming service is fun and a lucrative business opportunity.
How much you can make: $150,000 — $300,000/month
How long does it take to build: 180 days (?)
Streamloots is a marketplace where viewers can buy real-time interactions with live streamers, allowing content creators to monetize their audiences and earning over $1M in just the last quarter with a community of more than 12K active streamers.
25. Start a search engine analytics service company
Navigating the digital landscape can be complex, but a search engine analytics service company offers clarity. This business idea revolves around helping other businesses understand their online presence through data points provided by search engines.
You'll generate detailed reports on traffic, ranking positions, and keyword performance, enabling clients to make data-driven decisions for optimizing their websites. This means long hours dedicated to data analysis and crafting actionable insights tailored to each client’s needs.
Intrigued? The demand for expertise in deciphering search engine metrics is growing, making this a timely opportunity. Helping businesses boost their online visibility not only establishes your company as essential but also promises consistent income streams from monthly retainer clients.
Starting a search engine analytics service company does require a solid understanding of SEO principles and excellent analytical skills. Still, as businesses continue to prioritize their online strategies, your services will be indispensable.
How much you can make: $3,500 — $250,000/month
How much does it cost to start: $5,050 (?)
How long does it take to build: 45 days (?)
Flying V Group, a digital marketing agency co-founded by Robb and Tyler Fahrion, has experienced explosive growth and profitability through their focus on SEO and content marketing, generating 540% more traffic in 2020 compared to the previous year, and increasing revenue YoY, all while operating debt-free and cash-positive.
26. Start a business intelligence consulting service
Unlock the potential of data-driven decisions with a business intelligence consulting service. In simple terms, this service involves helping companies collect, analyze, and interpret business data to make better decisions and improve performance.
As a business intelligence consultant, you'll work with client companies to transform their raw data into actionable insights. This involves setting up data reporting systems, creating dashboards, and providing strategic recommendations based on the data analysis.
The value in business intelligence consulting lies in its ability to drastically improve a company's efficiency and competitive edge. With the right expertise, you're not just a consultant; you're a pivotal partner in a company's growth strategy.
Starting a business intelligence consulting service puts you at the heart of the data revolution. If you have a knack for analytics and a head for business, this could be the seamless path to a rewarding enterprise. Engaging, impactful, and future-centric—it's a business idea worth considering.
How much you can make: $1,000 — $1,500,000/month
How long does it take to build: 350 days (?)
Asian-focused consulting firm Dezan Shira & Associates, founded in Hong Kong in 1992, has expanded to include 28 offices and a client base of several thousand companies with US$20 million in annual turnover, handling about US$8 billion in foreign investment into Asia, by determined hard work and creativity in marketing, billing structure and hiring equity-dependent staff.
27. Start a fitness equipment manufacturer
Are you searching for a new business opportunity that will enable you to utilize your design and construction skills? Perhaps you should consider starting a business that manufactures fitness equipment. The main requirements for succeeding in this manufacturing business are a well-equipped workshop, design and construction experience, and good marketing skills.
The fitness equipment manufactured can include weight benches, weight stands, and squat stands, just to mention a few. Once the fitness equipment is constructed, selling can be wholesale to national and specialty retailers or directly to the public via a factory direct showroom or the Internet.
How much you can make: $771,000/month
How long does it take to build: 120 days (?)
Ironmaster, a multi-million dollar company, manufactures and sells their brand of home gym fitness equipment domestically and in over 20 international markets, with their top-selling product being a patented adjustable dumbbell system called Quick-Lock Dumbbells, providing quality strength training gear for individuals who want to have their gym at home.
28. Start a credit card analytics business
A credit card analytics business involves collecting and analyzing credit card transaction data to provide clients with insights and recommendations. This can include analyzing spending patterns, identifying potential fraud, and providing recommendations for optimizing credit card usage.
To run a successful credit card analytics business, it is important to have a strong understanding of data analysis and financial concepts. It may also be helpful to have a background in finance or economics. It is also essential to build strong relationships with credit card companies and financial institutions to access the necessary data.
Another key to success in this line of business is staying up-to-date on industry trends and regulations and constantly seeking out new technologies and techniques to improve the accuracy and efficiency of your analyses.
It is also essential to clearly communicate the value of your services to potential clients and clearly outline the benefits of working with your company. Building a solid reputation and providing high-quality results will be essential for attracting and retaining clients.
Overall, a credit card analytics business can be a lucrative opportunity for entrepreneurs with a solid financial background and a passion for data analysis. This business can provide valuable insights and recommendations for optimizing credit card usage by staying up-to-date on industry trends and building strong relationships with clients.
How long does it take to build: 800 days (?)
29. Start a VR data visualization business
VR data visualization service allows users to experience aggregated data in a virtual environment. Typically, data visualization enables the user to see analytics presented visually so the user may understand what data is communicating.
VR data visualization is in demand across different industries. The service allows engineers, designers, and other professionals to work with real-time data and virtually walk into their data so they can study it from every perspective.
If you love working with VR and are passionate about data analysis, you can consider starting a VR data visualization business. With the high demand for VR visualization services, you can turn your passion into a lucrative business opportunity.
How much you can make: $10,000/month
How long does it take to build: 120 days (?)
Pup-eeze, a wellness tracker for dogs that tracks activity, monitors location and automates their lives, was created by Chelsea Rhoads and Elizabeth Hess after realizing how difficult it was to travel with dogs, and now has a consumer-facing application for pet owners to monitor their pets' data and visualize trends.
30. Start a dedicated server hosting company
In a world where businesses rely on digital reliability, starting a dedicated server hosting company can be a lucrative venture. Essentially, you’ll be providing businesses and organizations with powerful, exclusive servers tailored to their specific needs.
Dedicated server hosting means no shared resources, better performance, and heightened security for clients. This business appeals to companies wanting robust, reliable, and customizable hosting solutions without the hassle of managing hardware themselves.
To succeed, you’ll need to invest in top-tier hardware, secure a data center location, and offer exceptional 24/7 technical support. The demand for dedicated servers is growing, making it an attractive option for tech-savvy entrepreneurs looking to enter the hosting industry. Dive in, and you’ll cater to a market that values performance and peace of mind.
How much you can make: $1,000 — $82,386/month
How much does it cost to start: $5,601 (?)
How long does it take to build: 75 days (?)
Jake Gaba tripled his game server hosting company's monthly recurring revenue from $1,600 MRR to $5,000 MRR after buying the business for $25,000, and has since launched new services for Viking and Valheim gaming servers under a distinct and memorable central hub brand, Indifferent Broccoli.
31. Start an universal payment gateway development business
Tired of juggling multiple payment systems for different clients? Consider starting a universal payment gateway development business. Universal payment gateways streamline the process of accepting payments from various platforms and currencies, simplifying transactions for merchants and improving user experience.
Developing a universal payment gateway involves designing software that can seamlessly integrate with numerous payment methods, from credit cards to digital wallets. Your clients will be businesses seeking a one-stop solution to handle diverse payment channels without the hassle of managing multiple systems.
Embarking on this business offers a unique opportunity to tap into the ever-expanding e-commerce market. Merchants are constantly looking for ways to simplify and secure their payment processes, making this a lucrative field. If you have a knack for software development and a passion for fintech, this could be an exciting venture to pursue.
How much you can make: $100,000 — $2,000,000/month
How long does it take to build: 365 days (?)
Bangladeshi MD and CEO Fida Haq established shurjoPay in the e-Commerce sector in 2010, a payment gateway as a merchant service provider so MSMEs could accept online payments in a country that lacked such a solution; now averaging $1.5M in transactions per month with 600 merchants, and expanding services with QR-based payments and payment links.
32. Start a bitcoin hardware mining business
A bitcoin hardware mining business uses specialized computer equipment to validate and verify transactions on the bitcoin network. This process, known as mining, requires a significant amount of computing power and electricity.
You will need a few key things to start a successful bitcoin hardware mining business. First, you must purchase specialized equipment such as ASIC miners or graphics processing units (GPUs). These devices are specifically designed for mining and will be the foundation of your business.
Next, you must find a location to set up your mining equipment. This space should have stable electricity, good ventilation, and a reliable internet connection. You may also need additional cooling equipment to keep your miners running at optimal temperatures.
In addition to the hardware and infrastructure, you will also need a strong understanding of bitcoin and the mining process. This will allow you to make informed decisions about the types of equipment to purchase and the most efficient way to operate your business.
Finally, it’s important to have a solid business plan in place. This will help you to track your expenses, profits, and growth over time. With the right combination of hardware, knowledge, and a solid business plan, you can build a successful bitcoin hardware mining business.
33. Start an online data protection business
Are you concerned about the growing threat of cyberattacks? Starting an online data protection business could be your answer. This venture involves offering services that secure and protect client data from cyber threats, hacking, and unauthorized access.
With the increasing reliance on digital platforms, businesses are more vulnerable to data breaches than ever. Your role would be to implement robust security measures like firewalls, encryption, and regular vulnerability assessments. Setting up this business entails obtaining certifications, staying up-to-date with the latest cybersecurity technologies, and possibly hiring a skilled team.
It’s a field that demands technical proficiency and constant vigilance, but it also provides the satisfaction of protecting sensitive information. Given the escalating demand for data protection, this is a business with substantial growth potential. If you have a knack for technology and a determination to thwart cyber threats, this could be an incredibly rewarding endeavor.
How much you can make: $5,000 — $775,000/month
How long does it take to build: 180 days (?)
This case study is about a cybersecurity company that developed a state-of-the-art information security solution that deter leaks of sensitive documents and detects leak sources in the case of an incident, with annual turnover of almost $2 million and a patented algorithm that applies invisible anti-leaks marks to documents, making 27,000 copies for every person on Earth.
34. Start a personal data protection business
In an age where data breaches are more common than ever, launching a personal data protection business addresses a critical need. This business involves helping clients safeguard their personal and sensitive information against cyber threats.
Your primary task will be to offer consulting services, provide encryption solutions, and help individuals manage their data securely. Start by identifying potential clients, including individuals and small businesses, who may lack the resources to secure their own data.
With the right tools and expertise, you can establish a reliable business that not only protects clients' information but also builds trust in the digital age. Free courses and certifications in cybersecurity can offer foundational knowledge to get started. If you're passionate about technology and security, a personal data protection business could be a meaningful and profitable venture.
How much you can make: $66,000 — $6,000,000/month
How long does it take to build: 365 days (?)
Spokeo is a people information service helping over 15 million users a month search and connect with others through organizing over 14 billion records into easy-to-understand reports generating over $6M per month.
35. Start a private cloud servers business
Building a private cloud servers business taps into the growing demand for data privacy and security. Imagine maintaining control over critical data with tailored computing resources—what you're providing is a customized digital fortress.
This business involves offering specialized cloud infrastructure to organizations that prefer private solutions over public cloud options. You'll be responsible for setting up, managing, and optimizing dedicated cloud environments that cater specifically to your clients' needs, ensuring their data remains within an exclusive, secure network.
Think about sectors like finance, healthcare, and government, which are constantly seeking robust, private cloud solutions to meet regulatory compliance and data security standards. Starting a business in this realm could put you at the forefront of securing sensitive information, addressing rising privacy concerns, and building trust with high-profile clients.
Launching this venture will require technical expertise, significant upfront investment in infrastructure, and a strong emphasis on sale and customer support to maintain and grow your client base.
How much you can make: $82,386/month
How long does it take to build: 60 days (?)
Jake Gaba tripled his game server hosting company's monthly recurring revenue from $1,600 MRR to $5,000 MRR after buying the business for $25,000, and has since launched new services for Viking and Valheim gaming servers under a distinct and memorable central hub brand, Indifferent Broccoli.
36. Start an intelligent customer acquisition service company
Understanding who to target for sales is crucial. Enter the intelligent customer acquisition service company. This business leverages data and advanced algorithms to identify potential customers and craft strategies that convert them into loyal clients.
The core idea is simple: use technology to make acquiring customers more efficient. You'd provide your clients with detailed analytics, automated lead generation, and personalized marketing strategies. Such targeted approaches can yield higher conversion rates and customer retention.
Intrigued by the prospect of combining tech and sales? This business taps into a growing need for precision in marketing, offering solutions that traditional methods often lack. It provides the dual benefit of cutting costs while boosting efficacy.
Starting a company like this requires a grounding in data science and marketing. If you possess these skills or can build a team that does, this venture offers a promising path to success.
How much you can make: $15,000 — $220,000/month
How long does it take to build: 40 days (?)
This case study is about Abhishek Kumar, the founder of Deep Research, a boutique market research agency that helps startups gather customer insights and guide their product and growth strategies. With revenues consistently growing over the past 10 months, they have achieved their highest revenue of $15,000 last month through continuous service evolution and increased value.
37. Start an advanced analytics services company
Harness the power of data with an advanced analytics services company. In simple terms, this business focuses on helping other companies make better decisions using data analytics tools and techniques.
You'll provide insights and solutions that guide strategic planning, marketing, financial forecasting, and operational improvements. With every business moving towards data-driven decisions, there's a growing demand for expertise in this field.
Starting an analytics services firm involves mastering data tools, understanding diverse industries, and continuous learning. It's not just about crunching numbers; it's about interpreting them to show clients actionable insights.
If you're analytical by nature and enjoy problem-solving, this venture could be rewarding. Not only will you help businesses grow through data-driven decisions, but you will also stay at the forefront of technological advancements.
How much you can make: $8,000/month
How long does it take to build: 180 days (?)
AppstoreSpy is a mobile app intelligence tool that helps app developers and marketers monitor their competition, conduct research, and select effective keywords for their apps, resulting in a 113% growth in the last 4 months.
38. Start a fraud detection service
Fraud is a looming threat for businesses of all sizes. A fraud detection service aims to mitigate this risk by employing advanced algorithms and machine learning to identify fraudulent activities in real time.
Imagine being the go-to expert that companies trust to safeguard their assets. You'll set up systems that watch transactional data, spot anomalies, and flag suspicious activity. It's a blend of tech-savviness and analytical prowess, making it an exciting choice for those skilled in data analytics.
Not only will you provide peace of mind to your clients, but you’ll also play a crucial role in the broader fight against financial crime. If you enjoy diving into data and have a knack for solving complex problems, starting a fraud detection service can be both a challenging and rewarding venture.
39. Start a business matching service
40. Start a security software sales business
41. Start a commercial uavs manufacturing business
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Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
