29 Business Ideas For Economists [2024]
Interested in starting a business as an economist in 2024?
If managed well, building a business as an economist could be more lucrative than employment. So, which are the best business ideas for Economists?
We put together 29 of some of the best economist business ideas you can start in today.
For each business idea, we'll show you real-world examples of other economist businesses to help you see what it takes.
Here's the full list:
1. Start a cryptocurrency business ($60.7K/month)
Starting a cryptocurrency business as an economist could align well with your analytical skills and understanding of market dynamics. Engaging with digital currencies like Bitcoin, Ethereum, and emerging altcoins offers the opportunity to apply your expertise in financial trends to an evolving sector. You could explore crypto trading, mining, or even develop blockchain-based applications tailored to financial services.
Given the rapid changes in technology and regulation, your ability to analyze and adapt to market trends would be crucial. This venture could allow you to innovate within the finance-tech intersection, perhaps by launching your own token or building a transparent and secure crypto exchange platform. The evolving nature of the cryptocurrency field means there is significant room for newcomers with strong analytical and strategic capabilities to make a meaningful impact.
How much you can make: $3,699 — $220,000/month
How long does it take to build: 180 days (?)
CBlocks is a cryptocurrency startup that generates random wallets of the top 100 cryptocurrencies, funds them, and ships them on a USB drive alongside software to manage them, with $32k made in the first 30 days and almost $3k on their second day from being featured in TheNextWeb, Forbes, The Outline & LifeHacker all within their first 3 weeks.
2. Start a payment app ($716K/month)
As an economist, you could leverage your analytical skills and industry knowledge to create a competitive payment app, tapping into a burgeoning market and supplementing your income. By understanding economic trends and consumer behavior, you could tailor your app to meet specific market needs, thereby capturing a share of the growing mobile payment industry. Payment app revenue can be substantial with minimal initial investment, making it an attractive venture for an entrepreneurial mind.
Additionally, providing a convenient and efficient payment method could draw both regular consumers and business owners who require occasional or irregular payments. By offering unique features that cater specifically to niche markets, you could set your app apart from existing competitors. This can ensure steady passive income while fulfilling a significant demand in the digital economy.
How much you can make: $1,000 — $2,000,000/month
How long does it take to build: 165 days (?)
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.
3. Start a lead generation service ($287K/month)
One entrepreneurial opportunity for economists interested in making extra money or starting a side business is a lead generation service. As an economist, your analytical skills and understanding of market trends could be invaluable in developing strategies to identify and attract potential customers for various businesses. You could leverage your expertise in data analysis to create targeted campaigns that produce high-quality leads, which are essential for companies looking to stay competitive in today’s digital world.
Starting a lead generation service would allow you to capitalize on your proficiency in digital marketing and market research, effectively bridging the gap between businesses and their potential clients. This venture not only supplements your income but also has the potential to grow into a reliable business that contributes directly to your clients’ success. If you have a knack for marketing and data-driven decision-making, this could be a fulfilling and lucrative career path.
How much you can make: $4,000 — $1,600,000/month
How much does it cost to start: $1,000 (?)
How long does it take to build: 90 days (?)
Stackmatix achieved $20k MRR in under two years by providing integrated digital marketing solutions for businesses, from start-ups to Enterprises, with a holistic, consultative approach, and currently they're pacing towards their goal of $50k MRR in another six to twelve months.
4. Start a b2b lead generation service ($172K/month)
As an Economist, you could leverage your analytical skills and understanding of market dynamics to excel in the B2B lead generation space. This service involves identifying potential business clients and establishing contact to foster valuable deals, which aligns well with your expertise in data analysis and market research.
By utilizing your knowledge of economic trends and business cycles, you could pinpoint high-quality leads, helping companies mitigate the daunting task of finding prospective clients. Given the constant demand for new business connections, a B2B lead generation service offers a scalable and lucrative opportunity for entrepreneurial economists looking to expand their impact in the business world.
How much you can make: $500 — $1,250,000/month
How long does it take to build: 165 days (?)
A 20-year-old digital nomad and serial entrepreneur shares his journey of starting a successful digital marketing agency, Nomads with Solutions, which specializes in Facebook lead generation, and offers insights on client acquisition, personal branding, and focusing on self-improvement.
5. Start an ai platform ($402K/month)
As an economist, starting an AI platform could be a revolutionary way to supplement your income or create a side business. By leveraging your expertise in data analysis and economic forecasting, you could develop tools and frameworks that enable companies to integrate artificial intelligence into their operations seamlessly.
Your AI platform could offer ready-made solutions for data analysis, machine learning models, and automation, making it easier for businesses to optimize their processes and make informed decisions. With the growing demand for AI technologies, you have the potential to empower organizations to boost productivity and efficiency without needing to hire specialized teams.
The rise in AI adoption presents an excellent entrepreneurial opportunity. By creating a plug-and-play solution, you can bridge the gap for companies eager to harness AI but lacking the expertise. Although this venture requires a solid foundation in AI and software development, the possibilities for growth and impact are substantial.
How much you can make: $5,000 — $3,000,000/month
How long does it take to build: 150 days (?)
A founder shares how he built AudioPen.ai, a tool that transcribes voice notes, generating $15,000 monthly with minimal costs and no paid marketing, highlighting the importance of focusing on the product, word of mouth, and personal communication with users for sustainable growth.
6. Start a shellfish farming business
As an economist, you could explore the lucrative world of shellfish farming by leveraging your analytical skills to optimize operations and market strategies. Understanding supply chains, market demand, and pricing trends will position you to make informed decisions that maximize profits. Coastal areas with clean, well-regulated waters provide ideal environments for shellfish farming, creating opportunities for sustainable and potentially high-yield ventures.
Additionally, your background in economic modeling could help you navigate regulations, secure funding, and evaluate investment returns. By focusing on efficient production practices and scalable operations, you could establish a profitable side business or even transition into a full-time entrepreneurial endeavor. Venturing into shellfish farming allows you to diversify your income while applying your economic expertise in a practical, impactful way.
7. Start a startup consulting business ($102K/month)
Starting a startup consulting business could make sense for an economist because it leverages your analytical skills and deep understanding of market dynamics to guide budding entrepreneurs. By providing strategic advice, analyzing complex datasets, and creating actionable plans, you could help startups navigate the challenges of launching their ventures. This not only supplements your income but also allows you to continuously sharpen your expertise in a dynamic, fast-paced environment.
Furthermore, your ability to interpret economic trends and forecast potential business outcomes would be invaluable to new business owners striving to make informed decisions. As a startup consultant, you could take satisfaction in mentoring and nurturing entrepreneurial enthusiasm while positioning yourself as a thought leader in the startup ecosystem. You could be the catalyst for the next big idea, making each day both challenging and fulfilling.
How much you can make: $1,500 — $1,399,996/month
How much does it cost to start: $1,000 (?)
How long does it take to build: 90 days (?)
This case study follows the founder of SupportNinja, a company that specializes in providing back-office and customer support outsourcing for tech companies, which generates over $9M ARR, has over 100 clients, and has seen a growth rate of 3,684% in the past 3 years.
8. Build an analytics tool ($170K/month)
Developing an analytics tool could be a lucrative side business or full-time venture for an entrepreneurial economist. Given your expertise in data analysis and economic trends, you could create a tool that helps businesses of all sizes make data-driven decisions, from operational improvements for small businesses to performance tracking for larger firms.
Your strong technical skills can give you an edge in this market. With the rising importance of big data, companies are increasingly seeking ways to leverage their data for strategic insights. By designing a user-friendly and robust analytics tool, you could tap into this growing demand.
Consider the success of established tools like QlikView, which generated $750M in revenue in 2022. This demonstrates the significant potential in this field. Leveraging your economic insight to build a tool, you could not only supplement your income but also carve out a substantial niche in the analytics industry.
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.
9. Start an audio sharing app ($60K/month)
As an economist, you could leverage your strong analytical skills and understanding of market trends to create a successful audio-sharing app. By identifying niche music markets or untapped demographics, you could develop a platform that caters to specific audience needs, thus maximizing user engagement and revenue potential.
Moreover, your ability to forecast economic patterns and consumer behavior would be invaluable in fine-tuning the application's features and services. With the global music streaming market size increasing year-over-year and projections indicating a subscriber base growth to 2.81 billion in the coming years, you could achieve significant returns on investment by entering this booming industry.
Combining your economic acumen with a solid development team, you could design a compelling user interface (UI/UX) and MVP to attract early adopters. By getting started now, you could position your audio-sharing app to capture a lucrative slice of an ever-expanding market.
How much you can make: $20,000 — $100,000/month
How long does it take to build: 90 days (?)
Wavve, a SaaS product helping podcasters and audio creators promote their content on social media, has grown to $75k in monthly recurring revenue with over 70,000 signups and clients including ESPN Radio, Dave Ramsey, and BBC.
10. Start an e-commerce order fulfillment business ($4.68M/month)
For economists seeking to diversify their income streams or explore entrepreneurial ventures, starting an e-commerce order fulfillment business presents a compelling opportunity. Leveraging your analytical skills, you could effectively optimize warehousing, packaging, and shipping processes to maximize efficiency and cost-effectiveness. This business model not only involves managing merchant inventory and handling logistics but also allows you to utilize your understanding of supply chain dynamics to streamline operations.
Moreover, your knowledge of economic trends could enable you to identify niche markets and tailor your services to the specific needs of online retailers, enhancing your competitive edge. Establishing a robust fulfillment infrastructure that seamlessly integrates with popular e-commerce platforms could provide these retailers with dependable delivery services, allowing them to focus on increasing sales. This behind-the-scenes role, although not consumer-facing, is vital for maintaining the smooth operation of e-commerce businesses and could position you as a critical player in the burgeoning digital marketplace.
How much you can make: $18,000 — $25,000,000/month
How long does it take to build: 180 days (?)
ShipMonk, a technology-driven fulfillment center, went from $130K in revenue in 2014 to nearly $30M in 2018 and was named America's Fastest Growing Fulfillment Center, with projected revenue of $60M for 2019.
11. Start an ecommerce brand ($79.9K/month)
As an economist with an entrepreneurial spirit, starting an ecommerce brand could offer you a dynamic avenue to supplement your income or launch a full-scale business. The analytical skills you possess can be invaluable when choosing a profitable niche, optimizing pricing strategies, and effectively managing supply chain logistics.
By leveraging platforms like Shopify or WooCommerce, you could create a web-based store where you sell your curated products directly to consumers, giving you control over every aspect of your brand. The potential for substantial rewards lies in your ability to craft a unique brand identity, directly engage with customers, and scale your business at your own pace, making this an exciting and fulfilling endeavor.
How much you can make: $450 — $300,000/month
How much does it cost to start: $7,000 (?)
How long does it take to build: 180 days (?)
This case study follows the story of a successful online business that has made 7.2 million dollars in sales since 2012, with profits of around 30-45%, and the founders share insights on lessons learned and tools used.
12. Start a Pouch Making Business
For economists looking to supplement their income or start a side business, a pouch making business could present a compelling opportunity. Given your analytical skills and understanding of market dynamics, you could strategically position your niche pouch printing services to meet the demands of small businesses needing affordable packaging solutions.
With the ability to offer custom pouches, sachets, and packaging that features company logos and product details, you could tap into a continuous market demand. The low initial investment required for this type of business further makes it an attractive option for entrepreneurial-minded economists seeking to diversify their revenue streams.
By leveraging your expertise in economic trends, you could identify ideal pricing strategies, manage production costs efficiently, and maximize profitability. This business not only fits well within the scope of your professional skill set but also has the potential to grow into a significant source of income over time.
13. Start a content marketing agency ($80.9K/month)
Starting a content marketing agency could be a lucrative opportunity for an economist looking to supplement their income or transition into a new business venture. Content is the currency of the digital world, and your analytical skills and market insights can give you a unique edge in creating data-driven content strategies that resonate with target audiences.
The content marketing industry is projected to grow to $137B by 2026, highlighting the expanding demand for skilled content marketers. Leveraging your expertise in economic trends and consumer behavior, you could offer valuable content marketing services that help businesses effectively engage their customers and achieve their goals.
As digital channels continue to proliferate, the need for high-quality, engaging content will only become more pressing. By starting a content marketing agency, you could tap into this growing market, providing a steady stream of income and the potential for significant business growth.
How much you can make: $500 — $650,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 75 days (?)
How David Tile turned a freelance writing gig into an $80k/month business, discussing lessons learned through managing growing demands and maintaining a remote team operation.
14. Print on demand business ($411K/month)
Starting a print-on-demand business could be a pragmatic and scalable side hustle for an economist. Given your analytical skills, you could identify market trends and consumer preferences, allowing you to design and sell products that capture current economic sentiments or popular trends. With minimal startup costs and no need for upfront inventory, this model enables you to mitigate financial risk while testing various designs and markets.
Utilizing platforms like Amazon, eBay, and Etsy could allow you to reach a global audience without necessitating a physical storefront. Additionally, the dropshipping production and fulfillment services mean you could manage this venture alongside your primary career, offering flexibility to scale as your business grows. This opportunity could not only diversify your income streams but also leverage your economic insights to create a unique niche in the market.
How much you can make: $200 — $3,000,000/month
How long does it take to build: 30 days (?)
Time commitment per week: Min. 5 hours/week
Founder Roy Kirchner shares how he started an eCommerce business specializing in 3D printing with an initial investment of $65,000, which now averages monthly gross sales of $330,000 and has partnered with international manufacturers and local businesses while offering technical support and education.
15. Start a mental health blog ($101K/month)
As an economist with a keen understanding of data trends and human behavior, you could leverage your analytical skills to start a mental health blog that focuses on the economic impact of mental health issues. You could explore how mental health affects productivity, absenteeism, and overall economic well-being, providing valuable insights that attract both laypeople and industry professionals.
Beyond educational content, you could delve into policy analysis and the cost-benefit of mental health programs, offering a unique perspective that sets your blog apart from more general mental health resources. By monetizing through advertising, sponsored content, and selling data-driven reports or consulting services, your mental health blog could not only supplement your income but also position you as an authoritative voice in a socially impactful niche.
How much you can make: $1,100 — $300,000/month
How much does it cost to start: $700 (?)
How long does it take to build: 35 days (?)
This case study article follows Vicki Mayo, who developed a stress-reducing wearable product for her company TouchPoint, which achieved over $2 million in sales in the first couple of years and has been used for stress relief over 3 million times.
16. Start a social media advertising specialist business ($106K/month)
Starting a social media advertising specialist business could make perfect sense for an economist due to your strong analytical skills and understanding of market trends. You could leverage your expertise in data analysis and consumer behavior to develop highly targeted and effective advertising campaigns on platforms like Instagram, Facebook, Twitter, and TikTok.
By designing unique advertising plans and utilizing modern social media marketing concepts, you could help businesses reach new customers and engage with their current ones. This entrepreneurial venture could not only supplement your income but also offer an exciting opportunity to apply your economic insights in the rapidly evolving digital marketing landscape.
How much you can make: $10,000 — $500,000/month
How much does it cost to start: $350 (?)
How long does it take to build: 60 days (?)
This case study follows Kelsey Chance and her creative agency, Good Chance Creative, which specializes in social media content creation, and in just 3 years she has grown her one-woman business to make $20,000 in monthly revenue through a niche in small in-house marketing teams and start-ups managing their social content, with key services including lifestyle brand photography, social media account management, copywriting, and eCommerce strategy consulting.
17. Start a data researcher
As an economist, you could leverage your analytical skills to start a data researcher side business, tapping into the growing demand for data-driven insights across industries. Organizations are increasingly seeking professionals who can turn complex datasets into actionable strategies, making your expertise highly valuable.
By positioning yourself as a freelance data researcher, you could help businesses optimize operations, forecast trends, and make informed decisions. This venture could not only supplement your income but also allow you to explore diverse sectors, from finance to healthcare, providing a rich variety of projects to enhance your professional portfolio.
18. Start a running courses
As an economist, you could leverage your expertise to create and run courses that educate others on economic principles, financial literacy, or data analysis. By offering online or in-person courses, you could supplement your income while sharing your knowledge with students, professionals, or businesses seeking to understand economic trends or improve their financial decision-making abilities.
Additionally, these courses could be tailored to address current economic challenges, such as inflation, market fluctuations, or policy impacts, making them highly relevant and valuable. This entrepreneurial endeavor not only enhances your income potential but also positions you as a thought leader in your field, expanding your professional network and opening doors to further opportunities.
19. Start a cell phone tracking
As an economist with a keen understanding of market dynamics and consumer behavior, you could leverage your analytical skills to start a cell phone tracking business. The demand for real-time tracking solutions is evident, with potential clients ranging from parents safeguarding their children to logistics companies monitoring deliveries. Your ability to analyze market trends and pricing models would allow you to craft a compelling value proposition and pricing strategy for your service.
Starting this venture entails developing a secure, user-friendly application that complies with privacy laws—a crucial aspect you could address by pinpointing the optimal balance between user convenience and security measures. By introducing a subscription model, you could ensure a steady revenue stream and explore further opportunities for product diversification, such as integrating with emergency response systems or personal safety applications.
In summary, your background in economics equips you with the financial acumen and market insight necessary to capitalize on this growing need, making cell phone tracking a promising supplemental income or side business opportunity.
How much you can make: $25,000/month
How much does it cost to start: $5,000 (?)
How long does it take to build: 180 days (?)
Spapp Monitoring is an Android tracking app for parents and employers, started as a side project and now making $300k a year through organic traffic from Google Play and the company's website.
20. Start a sharpening business
As an economist, you could leverage your analytical skills and attention to detail to start a sharpening business that supplements your income. In a market where consumers increasingly favor sustainability, the demand for services that prolong the life of household and professional tools is expanding.
This business involves revitalizing dull blades and tools for a variety of users, turning them into efficient, cutting-edge instruments once again. With modest startup costs, primarily for high-quality sharpening stones and basic tools, you could efficiently manage operations alongside your existing career.
By advertising your specialized services both locally and online, you could tap into a growing market, providing a tangible and valued service that complements your economic mindset and entrepreneurial goals.
21. Start a data mining and analytics tools business ($237K/month)
As an economist, you could capitalize on your analytical expertise by starting a data mining and analytics tools business. This venture focuses on developing software that transforms raw data into actionable insights, catering to industries like finance, healthcare, and retail. By harnessing your programming, statistics, and machine learning skills, you could create tools that uncover patterns and trends, providing invaluable intelligence for strategic decision-making.
With the rising demand for data-driven insights, the market for innovative analytics solutions is booming. Imagine helping businesses pioneer their success and driving industry transformations with the intelligence derived from your tools. This business idea melds your technical prowess with a profound understanding of market needs, offering rewarding opportunities for entrepreneurial economists.
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.
22. Start a seo consultant business ($156K/month)
As an economist, you could leverage your analytical skills and data-driven mindset to excel in an SEO consultant business. By offering professional advice to businesses to optimize their websites, you could help them rank higher in search results, increasing their visibility and competitiveness.
Given the rising demand for SEO services across various industries, your ability to analyze market trends and consumer behavior could set you apart as a highly sought-after consultant. Starting an SEO consulting side business could allow you to supplement your income or even transition into a full-time entrepreneurial venture, making the most of your expertise in data analysis and strategic planning.
How much you can make: $1,000 — $1,800,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 60 days (?)
Power Move Marketing is an innovative digital marketing company founded by Hailey Brooke McFadden, which has achieved an impressive monthly income of $22,075 and is projected to make almost $300,000 in its first year, by offering a one-stop-shop for e-commerce businesses looking for a marketing powerhouse with a female positive culture.
23. Start a data analytics software business ($454K/month)
Starting a data analytics software business could be a logical and lucrative venture for an economist. With your deep understanding of data interpretation and decision-making processes, you could create software that effectively addresses industry-specific analytical needs. By focusing on a particular niche, you could develop tools that offer custom reporting, intuitive dashboards, and other features designed to simplify complex data for your clients.
Marketing your software would involve showcasing its simplicity and the tangible benefits it provides in making informed decisions. Emphasizing how your solution helps organizations streamline their data analysis could significantly attract potential clients. Leveraging your expertise in economics to highlight the value of efficient data interpretation could set your business apart in the competitive field of data analytics.
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 car race and drag strip business
If you are an economist with an entrepreneurial mindset, starting a car race and drag strip business could offer lucrative opportunities. Utilizing your analytical skills, you could identify profitable market trends, optimize pricing strategies, and manage costs efficiently in a high-adrenaline industry.
Moreover, your expertise in economic forecasting could help you anticipate future demand and economic conditions, enabling you to make informed decisions about expansions, promotions, and other business strategies. The car race and drag strip business not only diversifies your income sources but also leverages your ability to analyze and capitalize on market dynamics.
25. Start a SEO & lead generation service ($60K/month)
As an economist, delving into an SEO and lead generation service could be a lucrative side business or full-time venture. Your analytical skills and data-driven mindset are well-suited to understanding and optimizing the various metrics involved in driving web traffic and converting leads. By helping businesses attract and nurture prospects, you could use your expertise to collect and analyze customer data, thereby significantly boosting their conversion rates.
Moreover, your background in economics provides you with a unique perspective on consumer behavior, market trends, and ROI calculations, which can be powerful tools in crafting effective lead generation strategies. With fundamental knowledge of digital marketing and hands-on experience in SEO techniques, you could offer businesses insight-driven solutions that elevate their online presence and profitability. This venture not only supplements your income but also allows you to leverage your economic expertise in a growing digital landscape.
How much you can make: $8,000 — $200,000/month
How much does it cost to start: $3,750 (?)
How long does it take to build: 90 days (?)
A link building company co-founded by Justas Markus has grown to make an average of $35k per month in recurring revenue with a focus on delivering high-quality services through manual processes and focusing on fewer markets.
26. Start a book seller ($120K/month)
As an economist, starting a book seller business could allow you to merge your analytical skills with your passion for literature. You could use your understanding of market trends to curate a collection of books that not only cater to diverse tastes but also predict and align with future demand, potentially giving you a competitive edge.
In addition, your expertise in data analysis and economic modeling could help optimize your inventory management and pricing strategies, ensuring a profitable and efficient operation. By organizing book clubs, author events, and reading sessions, you could create a community-driven business that fosters engagement and loyalty. Leveraging your knowledge of economic principles, you could build a sustainable and flourishing literary venture.
How much you can make: $90,000 — $149,986/month
How much does it cost to start: $7,750 (?)
How long does it take to build: 187 days (?)
Foreword Reviews is a media company that started out as a magazine with a print run of 7,500 copies, serving as a brochure for publishing services including foreign rights exchange and digital content, and twenty years and some intense pivots later, it has become one of the most profitable in the book business.
27. Start a halal inspired footwear brand
As an economist, you could leverage your understanding of market trends and consumer behavior to identify a niche in the footwear market for halal-inspired products. By catering to the specific needs of the Muslim community, you could fill a gap in the market that is often overlooked, thereby creating a unique selling proposition for your brand.
Additionally, your expertise in cost analysis and financial forecasting could help you strategically allocate resources toward impactful marketing and publicity efforts. This targeted approach could ensure efficient use of capital, allowing your halal footwear brand to thrive both online and in physical locations.
How much you can make: $15,000/month
How much does it cost to start: $5,000 (?)
How long does it take to build: 240 days (?)
Meraki Design House founder Eman Bachani shares how she started a $15k/month Asian-inspired handcrafted footwear e-commerce company, with a focus on working with South Asian artisans and tapping into new markets during COVID through collaborations and influencer marketing.
28. Start a junk pickup business ($57.5K/month)
As an economist, leveraging your analytical skills to start a junk pickup business could be a profitable and sustainable endeavor. With a keen understanding of market dynamics, you could identify and capitalize on specific niches within the junk removal industry, such as responsibly disposing of e-waste or offering eco-friendly disposal solutions, ensuring your service stands out.
By meticulously calculating fixed and variable costs, you could create a pricing strategy that maximizes profits while offering competitive rates. Your expertise in data analysis and economic trends could also help in targeting demographic segments that are more likely to require junk removal services, thereby optimizing your marketing efforts and expanding your customer base efficiently.
How much you can make: $15,000 — $100,000/month
How long does it take to build: 100 days (?)
Two mechanical engineering graduates start an eco-friendly junk removal and demolition business in Fredericton that generated nearly $8,500 within its first month of operation, and are on track to make a minimum of $20,000 a month with plans to have local teams in every major community in New Brunswick within a year.
29. Start a talent development company
As an economist, you could leverage your analytical skills and understanding of labor markets to start a talent development company. By identifying skill gaps and emerging trends in various industries, you could create targeted training programs that help individuals improve their employability and career growth.
Utilizing your expertise in data analysis, you could measure the effectiveness of these programs and continually refine them to meet market demands. This entrepreneurial venture not only provides a supplemental income but also allows you to make a meaningful impact on workforce development.
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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.
