The 43 Best Business Ideas In Grenada [2024]
Interested in starting a business in Grenada in 2024?
We put together 43 of the best businesses you can start in Grenada today.
In this list of ideas, you can find:
- Home-based businesses to start in Grenada
- Profitable online business ideas
- Unique business opportunities for Grenada
- Low investment business ideas (under $5k to start)
- Easy businesses you can start in Grenada today
For each business idea, we’ll show you real-world examples, revenue expectations for each idea, + a step-by-step on how to start your small business in Grenada.
Here's the full list:
1. Start a web design & online marketing business
If you know about website design and marketing concepts then starting your own web design and online marketing business could be the perfect opportunity for you to do so.
The online marketing industry is the second largest industry in the United States and continues to grow. The online marketing industry is massive. It is estimated to grow by 30% annually, reaching $400B in the next four years.
How much you can make: $8,000 — $800,000/month
How much does it cost to start: $5,000 (?)
How long does it take to build: 90 days (?)
How Shannon Mattern built a DIY web design training business from scratch that now generates $10k/month in revenue through affiliate commissions and courses, without outside investment or debt.
2. Start a mobile photography business
Want to start your own photography business? You're not alone. With the rise of social media and photo-sharing, blogging, and online retailing, it's never been easier to start making money behind your camera.
There are photographers shooting weddings, creating images for ad campaigns, freelancing for magazines, touring the world, taking photographs of destinations — the list is endless!
To start mobile photography in Grenada, research the target audience and determine which specialization area is more lucrative. Invest in high-quality, professional cameras, lenses, and a computer with professional software photo-editing software.
How much you can make: $2,000 — $500,000/month
How much does it cost to start: $5,000 (?)
How long does it take to build: 190 days (?)
Photobooth Supply Co. offers a profitable business opportunity through their sleek and portable photo booths, with up to 97% satisfaction rate and a focus on customer experience, in a fast-growing event industry where photo booths are exploding.
3. Create an online course
An online course business involves creating and selling digital classes teaching specialized skills or knowledge to subscribed students.
As an entrepreneurial course creator, you identify educational gaps around topics you have expertise in and develop engaging video lessons and supplementary materials.
With flexibility around self-paced or cohort-based structures, building a student base provides passive income potential.
For founders who enjoy information-sharing, launching an online course platform presents a lucrative way to monetize your instructional talents with small startup costs by serving eager lifelong learners seeking convenient access to emerging subjects.
How much you can make: $275 — $1,000,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 88 days (?)
Learn how one couple created a successful personal finance blog, The Savvy Couple, that now makes over $20,000 per month and has sold thousands of digital workbooks and courses, by focusing on purposeful content and optimizing their ROI with efficient time management.
4. Start a voice over service
Voiceover artist is an auditory performer who uses their voice in scripted presentations. The role of a voiceover artist is only to be heard but not to be seen.
Working as a voiceover artist is an opportunity to choose the projects you enjoy engaging in. The role of a voiceover artist is also fun and can help you meet new people.
To become a voiceover artist in Grenada, start practicing aloud reading so you familiarize yourself with your sound. Then, create your recording studio where you can practice your voiceover skills. It would help if you had a quality microphone, professional recording software, a computer, and soundproofing materials.
How much you can make: $400 — $85,000/month
How much does it cost to start: $7,500 (?)
How long does it take to build: 150 days (?)
Voice Crafters, a multilingual voice-over agency and marketplace founded by Mony Raanan, doubled their revenue to over $765,000 in 2022 with a bottom line of around 30% after transitioning to an online marketplace and carefully vetting their network of over 1,000 professional voice actors in more than 80 languages.
5. Start a digital marketing business
Digital marketing businesses serve local and international companies to expand their reach and grow revenue. A top reason digital marketing is so exciting is that the field is constantly evolving and is easy to learn.
If you plan to start a digital marketing business in Grenada, educate yourself and understand how digital marketing agencies work. Then, focus on building your digital skills and advancing your career through online digital marketing courses.
To stand out, find a digital marketing niche and focus on the audience interested in your services.
How much you can make: $100 — $1,250,000/month
How much does it cost to start: $2,500 (?)
How long does it take to build: 60 days (?)
H-supertools founder Hasan developed a set of free SEO and digital marketing tools generating $2k per month in profit using Google Adsense, affiliate marketing, selling ad spaces, and email, plans to launch a membership option, and has attained over 80k registered users and 300k monthly visits in less than two years.
6. Become a virtual assistant
Virtual assistants support businesses, teams, or individuals by performing administrative tasks remotely. As businesses these days tend to outsource their tasks, the demand for virtual assistants is growing rapidly.
Becoming a virtual assistant is flexible, as you can choose a work schedule and location at your convenience. Many virtual assistants in Grenada have a dedicated home office where they work in a quiet and distraction-free environment.
To become a virtual assistant, identify a niche you like and undertake any training. Then, figure out how much to charge your customers and create an online presence where you can apply for jobs. As a virtual assistant, you can define your work schedule depending on your availability.
How much you can make: $1,000 — $1,000,000/month
How much does it cost to start: $1,000 (?)
How long does it take to build: 60 days (?)
Filipino Virtual Assistance by FVA Business Consultancy, founded by Julmar Grace Locsin, offers online and offline training to empower marketers, enable businesses, and equip freelancers which has trained 25,000 students from their 31 courses, has 16 coaches assigned from different territories, and fifteen in the FVA team for global digital leadership that will impact the world through digitalization, one life at a time.
7. Start a blog
In recent years, blogging has become a highly sought-after & lucrative Business. This location-independent business is a creative outlet to reach a broader audience and even work at any time. According to Optinmonster’s list of blogging statistics and facts:
- Blogs have been rated as the 5th most trustworthy source of gathering online information.
- 77% of internet users read blogs.
- Each month, approximately 409 million people view more than 20 billion pages.
Originally blogging started as an online journal, but today it is a highly profitable career option. Many people are choosing blogging as their full-time career and are earning their bread and butter from this profession.
If you want to start blogging as a side hustle or as a full-time profession, choose a niche you will enjoy writing about and have a content strategy ready. Then, create a mailing list, and decide on a good blog posting routine to keep your audience engaged.
How much you can make: $100 — $650,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 30 days (?)
Time commitment per week: Min. 5 hours/week
Learn how one couple created a successful personal finance blog, The Savvy Couple, that now makes over $20,000 per month and has sold thousands of digital workbooks and courses, by focusing on purposeful content and optimizing their ROI with efficient time management.
8. Become a software developer
A software developer is a person who creates computer programs. They design, test, and oversee the creation of software for a variety of purposes including businesses, personal use, or social networking.
If you have strong technical skills and experience in programming, you can start a software development business. You should also have a good understanding of how the software works.
The average salary for software developers is $110,140. The best-paid 25 percent earn an annual income of up to 140K dollars while the lowest-paid workers make just under 84K dollars.
The recent trends in software development are moving towards mobile apps and cloud-based solutions. Businesses are providing a variety of programming languages and tools to create software that meets the client's needs.
Starting a software development company is the perfect way to explore in this exciting industry. This type of business is growing in popularity as businesses are looking for ways to offer their customers a convenient way to access their data and applications.
How much you can make: $500 — $350,000/month
How long does it take to build: 100 days (?)
SkyVerge, a software company, has grown rapidly with revenue of $350,000 per month, over 100,000 eCommerce customers, and a globally distributed team of 30 people, all through starting with consulting projects and building focused and solutions-based products, acquiring small products from other developers, and focusing largely on content marketing and providing excellent customer support.
9. Start an online video editing business
Video editors manage camera footage, dialogue, sound effects, graphics, and special effects to produce the final film or video product. To become an online video editor, you must have media production and communication knowledge and the ability to work with others.
To start a video editing business, you can outsource video editing skills from an experienced professional. Your role will be to pick video footage from the customers and upload them for the video editor to do the magic.
How much you can make: $2,000 — $100,000/month
How much does it cost to start: $5,000 (?)
How long does it take to build: 180 days (?)
VEED.IO, a London-based start-up co-founded by Sabba and her partner, offers a simple online video editing platform using batch job cloud architecture to help social media managers across the world auto subtitle, filter, rotate videos and much more, earning the company $5,300 MRR and the founders Ramen profitability within just a year of starting.
10. Start a content writing company
Content writing involves writing, editing, and publishing content in a digital format. Examples of content include a blog post, product description, and podcast script—eBooks, press releases, or landing page content.
Becoming a content writer allows you to work as your boss. Therefore, you choose whatever working schedule suits you and take a manageable workload. Moreover, content writing helps you develop essential skills you may not obtain from regular writing.
Content writing is a highly-on-demand service, as companies compete for the online audience who often begin their shopping journey by searching for relevant and educative content online. Therefore, a content writing company is an excellent source of passive income.
To start a content writing company in Grenada, research the market and choose a suitable niche. Sketch a proper business plan and create a website. Hire a pool of talented writers and leverage modern technology to streamline operations.
How much you can make: $1,000 — $550,000/month
How much does it cost to start: $600 (?)
How long does it take to build: 30 days (?)
Scribly.io, a subscription-based copywriting service providing high quality content that helps businesses scale at roughly 50% of the cost of hiring in-house, created by Dani, a first-time entrepreneur who started with just a few hundred dollars worth of projects and with the help of three other writers; as of last month, Scribly.io topped $14K monthly revenue.
11. Start a travel agency
Are you a passionate traveler with entrepreneurial skills? Then starting a travel agency can be a great career choice for you.
As a travel agency, you'll be responsible for linking travelers to providers of all the travel and tourism-related services such as accommodation, transportation, sightseeing, tour guides, local adventure, etc.
Starting an online travel agency is a lot easier than you might think. You'll need to perform market research, get a few necessary certifications (such as your IATA number), study competition, build a website, and do proper marketing.
To maximize earnings, negotiate discounts from the industry service providers, and charge travelers within the market rate.
How much you can make: $1,000 — $1,500,000/month
How much does it cost to start: $1,250 (?)
How long does it take to build: 90 days (?)
Marissa Daniels runs a successful travel agency, Spread Your Wings Travel, that hit $100,000 in sales within a year of launch and provides payment plan options for its all-inclusive vacations, and she hopes to help 100 families supplement their income through the business.
12. Start a dropshipping business
Dropshipping is a business model where you sell products to customers without holding inventory.
Instead, when a customer makes a purchase, you buy the product from a third-party supplier, who then ships it directly to the customer.
To start a dropshipping business on a budget, choose a niche or category of products you want to sell.
Next, set up an online store using platforms like Shopify or WooCommerce. Then, find reliable suppliers from platforms like AliExpress, list their products on your store, and focus on marketing and customer service to grow your business.
Remember to carefully manage your expenses and monitor your profit margins to ensure profitability.
How much you can make: $6,000 — $3,000,000/month
How much does it cost to start: $8,500 (?)
How long does it take to build: 90 days (?)
Time commitment per week: Min. 10 hours/week
Entrepreneur Kamil Sattar has developed multiple six-figure drop shipping businesses, and his company, e-commerce mentoring, specializes in helping others create their own successful companies, with favorite platforms including using Shopify and apps such as Loox reviews and SMSBump.
13. Start a food truck
Food trucks are a highly profitable business that offers customers a variety of meal options out of a mobile truck. This basically operates inside a large vehicle equipped with kitchen and food products. Starting a food truck is a dream for many people, but it's more challenging than it looks. To make it work, you need the ideal location and menu.
To start a food truck business in a particular city, it is mandatory to check what kind of food trucks are already operating, identify a gap, and bring in some new experiences. Then, with the right plan and the right approach, you can be on your way to starting your own food truck empire.
How much you can make: $30,000 — $1,500,000/month
How long does it take to build: 60 days (?)
Time commitment per week: Min. 5 hours/week
Food Fleet grew over 160% in just one year and managed over 20 million in sales for its clients, securing multiple contracts with the likes of Sodexo, Levy Restaurants and more, due to its understanding of catering client needs and its advanced turnkey and design services.
14. Start a language translation service
Language translation services bridge the linguistic barriers, helping businesses reach a wider audience outside of a single language. A language translation job is an opportunity to cover a wide range of topics and meet people from different cultures.
To become a language translator in Grenada, master a second language and earn some experience so you become fluent in the second language.
How much you can make: $5,000 — $550,000/month
How long does it take to build: 90 days (?)
How this founder started a $100K/month guaranteed transcription service for medical, legal, law enforcement, financial, academic and general business industries, winning the NASPO ValuePoint transcription services contract over 26 other companies and learning valuable lessons about getting a coach and getting as much PR as possible.
15. Start a construction company
Running a construction company can be very rewarding and require hard work, attention to detail, and a hustle mentality.
Construction companies are responsible for building/designing a variety of apartments, buildings, properties, housing, infrastructure, facilities & developments, motorways, roads, paths, pavement, and more.
How much you can make: $40,001 — $10,000,000/month
How long does it take to build: 120 days (?)
Mountain Fire Woodworks founder Cameron Vilcsak shares how he used YouTube to promote his log cabins, chainsaw carvings, and passion for woodworking, culminating in one of his videos that has gone viral with over 25 million views and counting.
16. Start an affiliate marketing business
Are you looking for a side hustle to pay you a passive income? Affiliate marketing is one of those side hustles that will pay you well over the long term. It is a way to earn money online by promoting other companies' products and services. You will be paid a commission for each sale you make as an affiliate marketer.
To get started, learn how to find the right product and brand to partner with. For example, you may prefer becoming an affiliate marketer for an eCommerce store, partnering with a manufacturer, and marketing their products for a commission.
How much you can make: $500 — $773,000/month
How much does it cost to start: $700 (?)
How long does it take to build: 60 days (?)
Bar Games 101 is an authority website about classic bar games with over 200K monthly visitors and revenue over $4,000 for the month of August, achieved through consistent publishing of researched articles and outsourcing by the founder.
17. Start a SEO agency
An SEO agency is a company that provides search engine optimization services to businesses. The function of an SEO agency is to help businesses rank higher in search engines through organic or paid means.
SEO is a rapidly growing industry, with experts across all aspects of the field already making six-figure incomes and expecting to see these earnings grow dramatically over the next few years. Getting into SEO today, before it gets too saturated, will allow you to establish a strong base in a new career, with an excellent chance for success.
It’s easier than ever to start your SEO agency in Grenada. The tools are there, and the competition isn’t as stiff as it used to be. If you’re considering starting an SEO or digital marketing agency, it might be a good idea to learn how other digital agencies succeed.
How much you can make: $1,000 — $1,800,000/month
How much does it cost to start: $1,500 (?)
How long does it take to build: 60 days (?)
Rankings.io is a hyper-focused SEO agency that helps elite personal injury law firms dominate first page rankings and was ranked #858 in the Inc. 5000 list of the fastest-growing companies in America for 2018, with a current revenue just under $300,000 per month, with plans for a record-breaking year.
18. Start a mobile app development business
Mobile app development is the process of creating software applications that run on mobile devices. These apps can be used for a variety of purposes, including games, productivity, and social networking.
Starting a mobile app development business is a great way to enter the world of software development. This type of company is growing in popularity as businesses are looking for ways to reach their customers through mobile apps.
To start a mobile app development company, you need to have strong technical skills and be able to develop high-quality software. You should also have a good understanding of how to market and sell mobile apps
How much you can make: $6,000 — $700,000/month
How long does it take to build: 120 days (?)
This case study features Md. Yousuf Ali, the founder of Rank Trends, who shares how he started a successful digital marketing agency, which generated a revenue of over $6k per month through SEO and video production services.
19. Become a mobile personal trainer
Do you love helping people through their fitness journey? If you want a great side hustle to earn extra income, consider becoming a personal trainer.
The fitness trainer side hustle can be an adamant industry to earn good money. However, once you develop a reputation as a good trainer, you can get more clients through referrals. You need to register for the certification course to start offering personal trainer services in Grenada.
To attract your first clients, consider online advertising, and seek referrals from every customer.
How much you can make: $600 — $60,000/month
How long does it take to build: 365 days (?)
Time commitment per week: Min. 4 hours/week
Sweat from Home is a two-way, interactive, and live-streaming group fitness workout startup that has held over 800 classes since March 2020, generates $25k in monthly recurring revenue, and has donated over $7k to 6 different charities; they aim to become the world's best live-streamed fitness class.
20. Start an online advertising agency
An online advertising agency helps businesses promote their products or services on the internet.
To start this business on a budget, first learn the basics of digital marketing through free online resources.
Create a professional website and set up profiles on social media platforms to showcase your skills.
Build a portfolio by working on mock campaigns or offering discounted services to friends and family, and gradually market your services to attract clients.
With dedication, you can grow your agency over time.
How much you can make: $10,000 — $1,250,000/month
How much does it cost to start: $2,500 (?)
How long does it take to build: 60 days (?)
Iman Gadzhi made over $1.2M in profit within two years with his social media marketing agency and education company, where he teaches entrepreneurs how to start and scale a profitable SMMA, with over 45 of his students making over six figures with their SMMA, and over 300 students having quit their regular jobs.
21. Open an ice cream parlour
Ice cream is something that people of all ages equally enjoy globally, making it a profitable business to venture into.
This frozen dessert industry has registered massive growth in recent years, a trend that shows the industry’s potential.
If you are looking to start your ice cream business in Grenada, follow these steps:
- Decide whether to make your ice cream or to source from established ice cream brands
- Write an effective business plan for the ice cream shop detailing the goals, strategies, and plans
- Fund your business idea
- Choose a spacious shop in an area with plenty of foot traffic
- Offer different ice cream flavors
Opening an ice cream parlor is not easy work. However, if you do it right, it is rewarding and can be a lot of fun.
How much you can make: $16,000 — $400,000/month
How long does it take to build: 730 days (?)
The Good Scoop, a California-based artisanal ice cream shop, started with a small Italian countertop ice cream maker and now has a production facility, wholesaling to various venues, offering frequent scooper programs, and using Instagram as their primary advertising platform.
22. Become a proofreader
Proofreading business is a service that helps customers review their written work and ensure it is ready for publication. Typically, a proofreader corrects grammatical errors and provides the written piece meets any relevant style guide.
As a proofreader, you can work online, allowing you to choose what time to work.
If you plan to start a professional proofreading business in Grenada, make sure you possess the following skills:
- Have an excellent grasp of grammar
- Ability to correct mistakenly capitalized words
- Familiarity with the proper use of capitalization
- Use spell-checkers to flag misspelled words
Proofreading is a great way to enhance content quality. With the increased use of written content marketing to reach a broader market, the demand for professional proofreaders has grown tremendously. Professional proofreaders earn an average of $12/hr. And $30/hr.
Therefore, consider proofreading as a business if you are looking for a great side hustle idea or simply looking for ways to increase your income.
How much you can make: $2,000/month
A proofreader was able to build a consistent income of ~$2,000 per month from scratch with zero experience in the field, no expenses, and barely any upfront costs by targeting bloggers and content creators who want their content to be copy edited and proofread.
23. Make a handcrafted drums business
Start a handcrafted drums business in an industry ready to boom. Firsthand drum builders and craftspeople have long sought out solid places to connect, guild-style, on the web. If you're on a shoestring budget, think about starting a handcrafted drums business.
The global handcrafted Drums & IBCs Market is expected to hit a market value of $16B by 2022 and is expected to reach $22.5B from 2022 to 2029. Starting your own handcrafted drums business in the modern age is much easier than it used to be. Because of the rise in sites like eBay over the past 20 years, it's much easier to pick up some used equipment and have your own drum kit up and running for a fraction of the cost of buying new.
How much you can make: $2,000/month
This case study showcases a business owner who handcrafts steel tongue drums, which are used for music and sound therapy/meditation, with average monthly sales of $2000, and has successfully grown his business through persistence and creativity.
24. Start a travel agency
Are you a passionate traveler with entrepreneurial skills? Then starting a travel agency can be a great career choice for you.
As a travel agency, you'll be responsible for linking travelers to providers of all the travel and tourism-related services such as accommodation, transportation, sightseeing, tour guides, local adventure, etc.
Starting an online travel agency is a lot easier than you might think. You'll need to perform market research, get a few necessary certifications (such as your IATA number), study competition, build a website, and do proper marketing.
To maximize earnings, negotiate discounts from the industry service providers, and charge travelers within the market rate.
How much you can make: $1,000 — $1,500,000/month
How much does it cost to start: $1,250 (?)
How long does it take to build: 90 days (?)
Marissa Daniels runs a successful travel agency, Spread Your Wings Travel, that hit $100,000 in sales within a year of launch and provides payment plan options for its all-inclusive vacations, and she hopes to help 100 families supplement their income through the business.
25. Become a chocolate maker
Rarely do you come across someone who does not love chocolate. That’s good reason to start a chocolate making business!
According to statistics, the global chocolate market size is expected to grow at a CAGR rate of 4.6%.
Starting a chocolate business can yield profits in any part of the world. However, to achieve the high profit margins, you ought to make chocolate with quality ingredients. Then, create a niche with a unique selling proposition.
How much you can make: $12,000/month
Rescue Chocolate is an NYC-based vegan, organic and fair-traded chocolate company that donates profits to animal rescue organizations and has partnered with hundreds of fundraising groups in 8 years.
26. Start a real estate appraisal service
Starting a real estate appraisal service is a great way to get involved in the industry without having to buy or sell property. As a real estate appraiser, you'll be responsible for estimating the value of properties. This can involve anything from single-family homes to commercial buildings.
To be successful, you'll need to have a strong understanding of the real estate market and the factors that affect property values. You'll also need to be licensed in your state. But, if you're up for the challenge, starting a real estate appraisal business can be a great way to make money in the industry.
Licensed appraisers can make between $40,000 and 100K. They can work for an appraisal management company (AMC), lending institution or government agency. Salary starts at about 40k with top end reaching up to 120 K depending on experience.
Starting a real estate appraisal business offers a niche opportunity that can be very profitable. Appraisers can often work from home, making it a great option for those who want the flexibility of being their own boss.
With the increase in transactions, there is a need for appraisers to accurately value properties. If you have the skills and experience, starting your own appraisal business can be a great way to make money in the real estate industry.
It 's important to note that, while there is a demand for appraisers, the industry is highly regulated. You'll need to be licensed and have the proper credentials to operate your business.
27. Start a freelancer platform
Freelancer platform is a place where people come with skills and services to offer and people come who need those skills and services. So we can say freelancer platforms are a marketplace for sellers and buyers of services and skills.
The freelancing industry is growing rapidly and it's becoming a popular career option for people who are "non-traditional" employees. The global Freelance Platforms market size is expected to reach $6.7B by the year 2025. While working on a full-time job, freelancers simultaneously work on a freelance career. The platforms available online help them to increase their business by attracting new clients.
With all of the businesses looking for help on their websites, it would be a good idea to start a freelancer platform. Freelance platforms do well because people have jobs that need to be done and businesses have the resources to pay for the job at hand.
How much you can make: $1,000 — $5,000,000/month
How much does it cost to start: $6,100 (?)
How long does it take to build: 100 days (?)
CloudDevs, a tech talent platform that sources and vets freelance tech talent and matches them with companies, has achieved $1 million in GMV in its first year, plans to achieve 100% growth year on year, and focuses on customer loyalty through its Net Promoter Score metric.
28. 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.
29. Become a real estate agent
Real estate agents are professionals who assist clients in marketing and selling their properties. They also assist the buyers in purchasing properties. Their services include meeting clients, advising them about market conditions, and providing guidance through the process of buying or selling properties.
A real estate career can be financially rewarding. However, the work requires good management skills, organization skills, customer service, handling complex paperwork and socially promoting yourself.
The pros of becoming a real estate agent include earning extra commission from clients and also setting your own working hours.
How much you can make: $5,000 — $1,500,000/month
How long does it take to build: 180 days (?)
Residential real estate company, Vesta Preferred, celebrates their 10th year of operation with 80% referral-based business and focus on relationship building, recently achieving their goal of 1000 new leases and $120M in real estate sales in 2019.
30. Start a bakery
Everyone loves baked goods, be it sweet items like cakes, muffins, and cookies or savory baked food like pizzas, buns, bread, and puff pastry. Baking takes a lot of effort and patience, which is why many people buy baked items from stores or restaurants instead of baking them at home.
Starting a bakery can be a rewarding business opportunity if you have a passion for baking. If you plan to start a bakery, consider that happy customers often become repeat customers. Therefore, always focus on quality and work on customer satisfaction.
To start a bakery in Grenada, pick an ideal format. Some options include:
- Counter-style bakery
- A hybrid bakery with a cafe,
- Food truck with a bakery
- Home bakery.
Write a suitable business plan and choose the correct location.
How much you can make: $2,500 — $25,000/month
How much does it cost to start: $1,250 (?)
How long does it take to build: 75 days (?)
French chef and founder of online bakery Pastreez, Anthony Rosemond, shares keys to success including validating ideas with the market, focusing on SEO and organic growth, building customer relationships through email and SMS, never offering discounts but offering freebies, and diversifying the business with new products and content on social media.
31. Start an online community
Online communities bring people who share common values together. For anyone looking to start a side hustle and earn money, you need to figure out the best online communities to participate. More important, you need to figure out on how to translate your online community membership into dollars. Ideas of how to earn through online communities include:
- Selling your products
- Promoting affiliate links for a commission
- Run ads
- Sell online community membership
- Start your own online community and charge for sponsored content
How much you can make: $100 — $162,620/month
How much does it cost to start: $1,000 (?)
How long does it take to build: 60 days (?)
Time commitment per week: Min. 4 hours/week
VC-turned-entrepreneur Phil Strazzulla, who previously built a successful b2b SaaS business, shares how he bootstrapped an online review site for HR software into a viable business with over $1k monthly revenues in just 3 months through organic search traffic growth and selling high intent leads.
32. Start a grocery store
A grocery store sells a wide variety of food products, fresh or packaged, and other household & personal care items. The grocery store industry is the largest retail channel that makes $682 billion in the United States.
To start a basic grocery store, you can expect to spend a minimum of $50,000. Ideally, the bigger expense would be the rent, equipment, labor cost, cash registers/POS systems, and software. Some of these are recurring monthly fees. However, the location, size of the store, competitors, and local customers will significantly impact the business. A new grocer should sell more items for a lower price to make a more significant profit.
A new grocer can also save costs by buying the items from local distributors. The distributor is the middleman between the manufacturer and the grocery store selling it. Once the store cost and location are decided, the next step is to obtain a seller license. In most states, a grocer's license is required to run a grocery store.
Thus an average grocery store has a profit margin of 3% to 5%. The profit rates depend on the store's location, size, and popularity. On average, a small to medium grocery store can make a profit of up to $300,000 annually if all the profit factors are considered.
Another way to make your business more profitable is to diversify your store and add amenities like a coffee shop or stocking up the front of the store with magazines, batteries, etc., as these items can cross a margin of up to 70%. As a rule of thumb, offering lower prices on higher purchases will ultimately win more customers and increase profitability.
33. Start a social media management business
Similar to virtual assistants, social media managers offer various services, including but not limited to:
- Developing a marketing strategy based on clients’ goals
- Setting up social media accounts
- Posting on behalf of their clients
- Coming up with strategies for increasing client’s social media following
- Marketing analysis.
To become a social media manager, know the various platforms and understand how they work so you can develop strategies that help clients reach their goals.
The beauty of working as a social media manager is that you can define your work schedule and choose what niches to work on.
How much you can make: $100 — $550,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 60 days (?)
This case study is about how the founder of AdvertiseMint, a Facebook advertising agency, started the company with just one employee and has since grown it to 25 employees, managing close to $100 million in digital media buys for clients such as Coca-Cola and Viacom.
34. Start a youtube channel
For anyone looking to start a successful YouTube channel, there are plenty of YouTube channel success stories that can be used as inspiration and encouragement. In addition, YouTube has an established monetization system and boasts incredible popularity, making it a potential platform for revenue generation.
In this article, we'll look at different approaches you can use to help promote your channel and grow your viewers. While there's no quick and easy way to success, you can take these tips to build your own YouTube Channel Success story. If you love content creation, you can capitalize on YouTube's popularity to earn extra income.
If you want to join the Youtube partner program to monetize your channel, you will need to reach a minimum of 1,000 subscribers and 4,000 watch hours in the previous 12 months.
How much you can make: $800 — $1,000,000/month
How much does it cost to start: $750 (?)
How long does it take to build: 90 days (?)
Time commitment per week: Min. 5 hours/week
Learn how this entrepreneurial couple made $5-7k a month by helping others find legitimate work from home jobs and creative ways to make money online through their blog and YouTube channel, as well as offering two flagship products designed to help beginner freelancers and new bloggers accelerate growth.
35. Start a restaurant
If you love cooking and are passionate about entrepreneurship, starting a restaurant can be a fun and lucrative business.
To get started, choose a great location, and hire an excellent support team. You will need a chef to inspect the food and line cooks, waiters, and waitresses to serve the customers. No matter the restaurant type, you need great culinary and business skills to make your dream come true.
If you plan to open a restaurant in Grenada, gain insight from consumer preferences and focus on serving modern consumers what they need.
How much you can make: $124,998 — $2,000,000/month
How long does it take to build: 120 days (?)
One Life Meals is a Toronto-based healthy meal delivery service that made 14,500 meals per month and generated $130k in monthly sales in 2018 through their one-on-one consultation, lean protein and seasonal veggies-based meals, and their focus on the client experience.
36. Start an online form builder
An online form builder is a tool that allows you to quickly and easily build online forms for your website.
Benefits of using a form builder:
- Use to easily collect information from visitors, customers, employees, or even other businesses for marketing research.
- Help businesses get more leads and increase conversion.
- You can build beautiful and professional-looking forms in minutes.
How much you can make: $14,500 — $420,000/month
How long does it take to build: 90 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.
37. Become a handyman
Handyman offers various home repair services based on their skill set and the customer’s needs. Also known as a fixer, the handyman repairs works both on the interior and exterior.
The handyman business is a great part-time opportunity, and you can earn a high-profit margin while the overhead costs are low.
How much you can make: $8,000/month
Learn how a third generation business owner started a profitable pool service and installation business in Southern Ontario, earning an average of $8000/month net revenue during peak season and growing from servicing 0 to 350+ pools since May 2016 by doing things that don't scale, such as manually talking to customers and focusing on the ideal customer.
38. Start a stock video business
Stock video is pre-filmed footage that can be purchased and used in various projects and films. Like stock photos, copyrighted stock videos cannot be used without permission and licensing from the rightful owner.
Businesses and filmmakers use licensed stock footage as they save money and hours, they would need to create original footage. Starting a stock video suitable for use in commercials and entertainment can be a great venture.
How much you can make: $10,000/month
How long does it take to build: 197 days (?)
VideoPlasty, an affordable and easy-to-use platform for buying pre-made stock animation elements and GIF images, has attracted over 600,000 visitors since its launch, with over $100k in revenue in 2020 alone, thanks to free organic traffic from YouTube tutorials and optimized SEO.
39. Start a restaurant
If you love cooking and are passionate about entrepreneurship, starting a restaurant can be a fun and lucrative business.
To get started, choose a great location, and hire an excellent support team. You will need a chef to inspect the food and line cooks, waiters, and waitresses to serve the customers. No matter the restaurant type, you need great culinary and business skills to make your dream come true.
If you plan to open a restaurant in Grenada, gain insight from consumer preferences and focus on serving modern consumers what they need.
How much you can make: $124,998 — $2,000,000/month
How long does it take to build: 120 days (?)
One Life Meals is a Toronto-based healthy meal delivery service that made 14,500 meals per month and generated $130k in monthly sales in 2018 through their one-on-one consultation, lean protein and seasonal veggies-based meals, and their focus on the client experience.
40. Start an email marketing business
Email marketing is a popular and effective way for businesses to reach their target audience and promote their products or services.
With the rise of the internet and the increasing use of email as a communication tool, starting an email marketing business can be a lucrative and rewarding venture.
An email marketing business involves creating and sending marketing emails to a list of subscribers. The emails can be newsletters, promotional messages, or other types of content designed to engage and convert the recipient into a customer. The business owner is responsible for building and maintaining the email list, creating the content, and sending the emails using specialized software.
To start an email marketing business, you must have a strong understanding of marketing principles and a good grasp of best practices. This includes creating compelling subject lines, segmenting your email list, and analyzing your campaigns’ results. You will also need to be proficient in email marketing software like Mailchimp or Constant Contact.
To run a successful email marketing business, you must clearly understand your target audience and what they are interested in. This will help you create relevant and engaging content that resonates with your subscribers and encourages them to take action. A solid call to action in your emails is crucial, whether it’s visiting your website, making a purchase, or signing up for a newsletter. Starting an email marketing business requires marketing skills, expertise, and a willingness to learn and improve continuously. The right strategies and tools can be a rewarding and successful way to reach your target audience and grow your business.
How much you can make: $120 — $20,833,333/month
How much does it cost to start: $1,250 (?)
How long does it take to build: 165 days (?)
GMass, an email marketing platform that allows users to send cold emails and email marketing campaigns with Gmail, has attracted over 500,000 user signups, including major tech companies like Uber, LinkedIn, and Google, and now generates over $200K in monthly recurring revenue through a successful content marketing strategy and focused ad spend.
41. Start a personalized gift business
Personalized gifts are great for celebrating important dates, joyous occasions, and memorable moments. The personalized gifts include photo frames, key chains, to group gifts.
A personalized gifts business is a low-capital idea since you do not need a physical storefront or office space to start the business. Besides, you can put as much time into the business as possible, which means you can run the business as a side hustle.
Check out our guide on how to start a personalized gift business
How much you can make: $1,000 — $800,000/month
How long does it take to build: 180 days (?)
Meet Tyler Macke, the 21-year-old founder of SendAFriend, an e-commerce brand that sells stuffed animal care packages, which began with $50k in revenue in 2019 and is now on track to make $5M in revenue this year, while donating 10% of revenue to children's hospitals throughout the United States.
42. Start a hotels business
If you are considering starting a hotel, then it is time to implement your plan. There are five key elements to understand if you want to succeed in this industry: location, size, budget, experience, and market demand.
Here are some tips to consider before forming a hotel:
- Name your business
- Decide on a marketing strategy
- Start by renting out a room in your home.
- Hire a business capital broker
- Try Airbnb
- Make a marketing plan
- Offer complementary services
How much you can make: $15,000 — $500,000/month
How long does it take to build: 325 days (?)
Boyd Hollow Resorts is launching a 5-star boutique resort and event center based on a fiction book that will be the first of many Villages to be built around the world, with over 200 event inquiries received before launching.
43. Start an online retail store
Starting an online retail store is straightforward. All you need is a computer, a domain, and a web hosting service. Then, determine a niche for your online store, and conduct product research before listing products.
You can start your online store based on a drop shipping business model or list your self-made products in your online store.
How much you can make: $400 — $1,000,000/month
How long does it take to build: 120 days (?)
A high school student turned his love for LEGO into a $1.6k/month business, Summerfield's Toys, by reselling sets online through eBay, BrickLink, and Facebook Marketplace, in addition to buying and reselling brand new sets.
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.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
