The 42 Best Business Ideas To Start In Iceland [2024]
Interested in starting a business in Iceland in 2024?
We put together 42 of the best businesses you can start in Iceland today.
In this list of ideas, you can find:
- Home-based businesses to start in Iceland
- Profitable online business ideas
- Unique business opportunities for Iceland
- Low investment business ideas (under $5k to start)
- Easy businesses you can start in Iceland 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 Iceland.
Here's the full list:
1. Create a screensharing software
Screensharing software allows users to share their computer screens with others in real-time, enabling them to view what’s happening on the screen remotely.
To start a budget-friendly screen sharing software business, first define your target niches, such as businesses, educators, or gamers.
Next, choose a development platform like open-source options or cost-effective frameworks to build your screen sharing application.
You can either develop it yourself if you have coding skills, hire freelancers, or use no-code platforms.
Create a website and utilize social media and online forums for marketing. Offer a free version with limited features to attract users, and consider introducing paid plans with premium features.
Continuously refine your product based on user feedback and adapt your marketing strategies as needed to grow your business.
How much you can make: $31,150/month
CrankWheel is a screen-sharing solution for sales teams, founded by Icelandic entrepreneur Jói Sigurdsson and his co-founder Gilsi, with $370k ARR earned and a "best B2B SaaS startup" pitching win at SaaStock, utilizing "lean startup" methodology and implementing a "land and expand" strategy to attract and retain customers.
2. Start a tour company
Starting a tour company is a great way to bring your love of travel to life. You can share your passion with others and help make their dream vacations come true!
There are many types of tour businesses, so choosing something you are passionate about and knowledgeable about is best. Here are a few of the most popular tour companies to start in Iceland:
- Food & Drink Tours
- Adventure & Sporting Tours
- Sightseeing & Historical Tours
- Shopping Tours
- and many more!
It’s also essential to determine what mode of transportation you want for your tour company, as this will determine the initial startup costs needed for your company.
To get started, find out if you need a license to operate in your state. Some states require tour companies to be licensed, while others do not. If you are required to be licensed, talk with the licensing agency to find out what steps must be taken before you can apply for that license.
How much you can make: $3,750 — $500,000/month
How much does it cost to start: $2,500 (?)
How long does it take to build: 90 days (?)
How Jessica Baumgart founded a successful food tour business in Denver, which broke even and started making a profit after just three months, generating $20,000/month in revenue from offering different food tour experiences.
3. 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 Iceland.
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.
4. Start a language learning app
Language learning apps use different activities and methods to assist users to expand their vocabulary and develop correct linguistic skills and general communication skills. The demand for global language learning apps has recorded a massive rise in the past decade and is expected to rise beyond $21.2 in the next few years.
Therefore, if you love linguistics or you have a passion for building apps that teach people a new language, then the language app business idea is worth diving into.
Here are basic steps to guide you through the journey of building a language learning app:
- Come up with an application concept
- Make a unique business analysis
- Define the feature set and make the requirements list
- Choose the technology stack based on the platform
- Develop the application design
- Create the content
- Develop full application version or MVP of your choice
- User testing
- Market and advertise the application
From the ideation stage to the final stage of your app development, focus on ensuring that your language learning application will have the following features:
- Gamification to encourage learners and bring on the competition
- Break down the courses into small chunks
- Provides learners with timely and relevant tips
- Variety of content and activities
- User-friendly design and interface
- Create a users’ community so they can interact and share tips
- Ensure a simple sign-in
- Regular assessment to test and score learner’s progress
Examples of language learning apps include Duolingo, Memrise, and LinguaLift.
How much you can make: $240 — $120,000/month
How much does it cost to start: $300 (?)
How long does it take to build: 227 days (?)
Gikken is a small, profitable European company founded by Alex that makes browser extensions and apps used by 800,000 people every month, with their flagship product, Mate Translate, generating around $18,000 a month, but monetizing their user base better is their top priority for the next year.
5. Start an online language coaching business
The world has become more globalized. Businesses have become cross-border, and executives have to travel to meet new customers. One thing that is obvious is that there is a need for language translation services.
If you have proficiency in one or more foreign languages then you can consider working as a language coach.
Teaching a language online is intensive as you have to meet and communicate with the audience often, and check their progress. If you are looking for an opportunity to earn working online, consider starting online language lessons.
How much you can make: $5,000 — $120,000/month
How much does it cost to start: $280 (?)
How long does it take to build: 33 days (?)
Andalus Institute is an online language learning institution that teaches Arabic to students in an average study period time of 15 months, unexpectedly crossing 6 figures in revenue within the first 6 months of launch and has since averaged $30,000 per month in revenue.
6. 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 Iceland. 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.
7. Start a consulting business
Consulting businesses are booming, more so than ever before, and seeing year-over-year growth. With an accumulated value of about $250B, the global consulting industry is one of the biggest markets within the professional services sector.
If you want to start your own consulting business with valuable insights from industry experts, reading about their entrepreneurial journey will help you decide how you should go about it.
How much you can make: $100 — $1,666,667/month
How much does it cost to start: $1,000 (?)
How long does it take to build: 60 days (?)
Cybersecurity consulting firm Eden Data, launched in March 2020, scaled to four team members and generated over $45k MRR without large startup costs through their unique Virtual CISO offering, which outsources cybersecurity and compliance needs for a flat monthly price, rather than charging by the hour or for long-term commitments.
8. 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 Iceland 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.
9. Start a dog treat business course
Dog owners are always on the lookout for healthy, tasty treats for their furry friends. Enter the dog treat business course, an opportunity that combines passion for pets with entrepreneurship. This course equips you with the knowledge and tools to create delicious, nutritional treats tailored to various dietary needs and preferences.
You’ll learn the basics of canine nutrition and recipes that stand out in a competitive market. From sourcing ingredients to packaging, branding, and marketing, the course covers all aspects of running a profitable dog treat business. The rise in pet ownership and the growing demand for premium pet products make this a timely and lucrative venture.
For animal lovers who dream of turning their passion into a business, this course offers a clear path. Get ready to dive into a fulfilling project that not only brings in an income but also delivers joy to countless pets and their owners.
How much you can make: $33,000/month
How much does it cost to start: $2,500 (?)
How long does it take to build: 45 days (?)
Kristin Larsen's Diva Dog Bakery program teaches students how to start their own successful dog treat bakery business that has consistently brought in five figures a month since launching in November 2020.
10. 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.
11. 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.
12. 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 Iceland, 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.
13. Start a stock photography business
Stock photography is typically sold on an exclusive basis to one buyer for a single usage fee. Stock photos are often available in different sizes, resolutions, and file formats. Businesses most commonly use stock photos for marketing purposes.
Stock photography is the supply of photographs often licensed for specific uses. Stock photos are the perfect marketing and advertising resource for website owners and bloggers.
You can build an impressive portfolio and earn a passive income by uploading high-quality stock photos.
To start a stock photography business in Iceland, invest in some good photography gear and learn how to take stock photos. An excellent online presence can help you sell your stock photos faster and at profitable margins.
How much you can make: $1,200 — $45,000/month
How much does it cost to start: $3,500 (?)
How long does it take to build: 60 days (?)
Pro Photo Studio founder Tsour Lee Adato shares how she turned a $5k investment into a business that services over 500 clients annually and makes approximately $350k per year with plans to expand and become a 7-figure business while offering advice to fellow entrepreneurs to always be innovating, learning and growing, and not to undervalue themselves.
14. 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.
15. 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.
16. Start a niche web design business
Niche web design business focuses on a specialized market such as law, home improvement, videography, fashion, etc. typically, when a web designer niches down their services, they are simply choosing to concentrate on one industry and create websites for businesses within the particular niche. To become a niche web designer, consider honing the following skills and personal qualities:
- Visual design, HTML, CSS, JavaScript
- Strong communication skills
- Analytical thinking and problem-solving skills
- Teamwork and research skills
- Attention to detail
Narrowing your focus to a particular niche gives you a higher chance of becoming a recognized expert and places you in a better position to charge more for your services.
How much you can make: $200 — $200,000/month
How much does it cost to start: $1,000 (?)
How long does it take to build: 50 days (?)
Never Settle, a digital agency with over 1,000 completed projects and a focus on lean methodology and building relationships with clients, has made a name for itself in the eCommerce space, offering comprehensive solutions to businesses of all sizes while maintaining consistent and moderate growth.
17. 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.
18. 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.
19. 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.
20. Create a social media scheduling tool
A social media scheduling tool is an online app that allows you to schedule your social media posts in advance, before publishing them on your social media channels.
Virtually all businesses use social media - this is a great market to build a startup in.
How much you can make: $1,500 — $333,333/month
How much does it cost to start: $1,000 (?)
How long does it take to build: 20 days (?)
MeetEdgar, a bootstrapped social media automation tool founded in 2014 by Laura Roeder, has grown to $4 million in annual recurring revenue and more than 5,000 customers, with a team size of two dozen, achieved through content marketing, social media marketing, and organic search.
21. 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.
22. 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 Iceland. 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.
23. 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.
24. Start a podcast agency
A podcast agency builds and promotes podcasts for other businesses. The podcast agencies develop strategies for making the client's podcast a success.
If you plan to start your own podcast agency, you may offer full podcast services or identify a niche and focus on it. Options include:
- Podcast production agency - Creates audio content for podcasts
- Podcast advertising agency - Advertise on podcasts
- Podcast editing agencies - Edit podcast episodes
- Podcast marketing agencies - Build podcasts to market the business or market businesses through other podcasts.
- Podcast booking agencies - Booking podcasts guests.
- Podcast promotion agency - Promote podcasts.
Building and growing a podcast requires some level of skills and expertise that many businesses may lack. Thus, they hire a podcast agency to help in all or particular aspects of podcast building and marketing.
How much you can make: $5,000 — $30,000/month
How much does it cost to start: $1,000 (?)
How long does it take to build: 48 days (?)
Fame's founder, Tom Hunt, shares how he started a $17k/month podcast growth service for B2B SaaS and service businesses, and provides insights on how he grew the business to $20k MRR and his plans to hit $50k MRR by the end of 2021 through prioritizing revenue and customer satisfaction.
25. Build an AI tool
Artificial intelligence is a hot topic in the tech industry right now. An AI tool is a computer program that is designed to simulate human intelligence. AI tools are used in a variety of industries, including healthcare, finance, manufacturing, and retail.
There are many different types of AI tools, but some common examples include chatbots, virtual assistants, and machine learning platforms.
To build an AI tool you will need strong technical skills and experience in computer science. You should also have a good understanding of the different types of AI tools and how they are used.
AI is quickly becoming one of the most important and sought-after technologies in today's world. The revenues coming from software using artificial intelligence are going to increase from 9.5 billion U.S dollars in 2018 to 118.6 billion U.S dollars by 2025.
The demand for AI tools is growing as businesses are looking for ways to automate their processes and improve their customer service. AI tools can help businesses save time and money by automating tasks that would otherwise be done manually.
How much you can make: $1,000 — $3,000,000/month
How much does it cost to start: $6,500 (?)
How long does it take to build: 57 days (?)
SkillSoniq, the world's first AI-powered recruiting app, connects companies with skilled freelancers on a trial basis, saving companies 60%+ in hiring costs and earning $350,000+ in gross revenues in its first year, with a current average of $40,000 a month, and plans to raise a second round of seed funding to achieve escape velocity and continue to form a world-class company.
26. Become a meditation coach
A meditation coach teaches and guides those who seek mental clarity through meditation. The meditation teacher typically combines breathing and concentration to deepen understanding and help the clients achieve relaxation.
Working as a meditation coach allows you to guide clients in finding new practices and techniques that may provide additional health benefits in their daily lives. In addition, meditation coaches earn a decent salary and enjoy the opportunity to define their working hours while building relationships with people from different backgrounds.
How much you can make: $3,000/month
How long does it take to build: 330 days (?)
Meditation company MindEasy offers personalized, relevant courses to help people find their way into mindfulness and meditation in a way that helps them achieve their career and personal goals, with focus on mental optimization, health and wellbeing, and spiritual approaches.
27. Start an errand service
Errand services help people and businesses who have daily errands to run but need an extra hand. So, they seek professional help who can do their chores on time with utmost efficiency.
You can provide various services as an errand business, including grocery shopping, picking up + sorting through mail, going to the bank, and much more.
Starting an errand business in Iceland is relatively easy. Consider offering package deals as a way of getting and retaining customers. Most errand businesses charge per hour, and you may charge per mileage if the task involves driving.
28. Start a life coaching business
Life coach helps people in various areas of their lives using a combination of emotional intelligence, professional knowledge, and experience.
Life coaching is a popular industry worth over $2.85 billion, and the number of life coaches has increased by 33% between 2015-2019.
This is a very profitable business and can be started at virtually no cost. You’ll need a computer, a high-speed Internet connection, and a LinkedIn account to start. Then, you can begin coaching part-time in your spare time until you build up your clientele.
How much you can make: $100 — $120,000/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
GrowthMentor, a platform connecting vetted growth mentors for one-on-one calls, founded by Fotis Panagiotakopoulos, has had over 2,500 mentorship calls booked to date and has seen success in using word of mouth, content marketing, and leveraging other people's networks as the primary drivers of customer acquisition.
29. Become an IT consultant
Are you an IT graduate still looking for that dream job? Then becoming an IT consultant might be the right choice for you.
An IT consultant is an external analyst in charge of evaluating a company’s IT systems and helping them meets its business objectives. IT consultants analyze and diagnose a company’s IT infrastructure, understand the client’s needs, and design solutions to help companies’ IT problems.
How much you can make: $2,100 — $4,166,667/month
How much does it cost to start: $500 (?)
How long does it take to build: 45 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.
30. Start a cleaning business
Starting a cleaning business is an excellent opportunity to be your boss and make money doing what you love. This business is relatively easy to create and does not require much equipment or funds.
There are many cleaning services, so deciding what services (or combination of services) you will offer and what hours of the day or week those services will be available is essential.
To start cleaning service in Iceland, you’ll want to consider investing in professional cleaning equipment such as a vacuum cleaner, a quality mop, and a good cleaning bucket. You will also need to buy environment-friendly cleaning products such as detergent, bleach, paper towels, and trash bags.
How much you can make: $2,000 — $708,333/month
How much does it cost to start: $5,000 (?)
How long does it take to build: 90 days (?)
MaidThis®, launched by Neel Parekh in Los Angeles with just one cleaner in 2013, has achieved over $10 million in total revenue by focusing on cleaning Airbnbs and vacation rentals, thanks to its successful remote business model and new-age marketing tactics, and has now launched MaidThis Franchise to expand the business further.
31. Start a moving company
Moving companies help people move their belongings from one location to another. The services can involve packing and shipping household items to physically moving them from one place to another. The moving can include anything from local moves to long-distance relocations.
Moving companies typically charge by the hour or job, so you’ll need to price your services accordingly. You’ll also need to invest in moving equipment, such as trucks and dollies.
How much you can make: $60,000 — $2,500,000/month
How long does it take to build: 60 days (?)
A 23-year-old founder started a moving company that now averages $115,000 a month in revenue and has record monthly sales of $158,000 by prioritizing customer service and using simple, common sense practices like friendly movers and a transparent pricing structure.
32. Start a chatbot content writing business
Looking for a business in the digital age? Consider starting a chatbot content writing business. This involves creating engaging and informative scripts for chatbots used in customer service, sales, and support.
Your primary task will be to develop tailored content that resonates with the target audience of various businesses, making their chatbot interactions seamless and more human-like. This isn't just about writing dialogue; it’s about understanding user intent and crafting a flow that guides customers effectively.
The growing reliance on automation means businesses are constantly searching for skilled writers who can enhance their chatbot interfaces. By offering specialized content writing services for chatbots, you can tap into a market that’s expanding rapidly.
If you enjoy nuanced writing and have a knack for problem-solving, this could be the ideal venture for you. It combines creativity with technology, offering a unique blend that’s both challenging and rewarding.
How much you can make: $62,500/month
How much does it cost to start: $4,617 (?)
How long does it take to build: 195 days (?)
Content-Whale, a content curation agency, has achieved a Rs. 4 crore ($514k/year) turnover 4-5 years after being started with just Rs. 2500 ($35), and has a pool of more than 500 writers, aiming to become a market leader in the global content market.
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 an e-book writing business
An eBook business is profitable and flexible, letting you start a business from anywhere, while it is a low-cost business that is easy to start. You can make a living self-publishing and selling eBooks online as long as you are ready to invest your time and money in it.
Anyone can start an eBooks business! Just choose a niche that interests the target audience, and ensure in-depth research.
How much you can make: $2,000 — $62,500/month
How much does it cost to start: $67 (?)
How long does it take to build: 120 days (?)
Content-Whale, a content curation agency, has achieved a Rs. 4 crore ($514k/year) turnover 4-5 years after being started with just Rs. 2500 ($35), and has a pool of more than 500 writers, aiming to become a market leader in the global content market.
35. Start a webinar hosting business
Are you an app builder looking for a profitable business? Consider building a webinar hosting platform.
Businesses host webinars as a tool for helping them convert leads into paying customers.
Therefore, starting your webinar hosting service could be a profitable business venture.
To attract customers, focus on building a robust webinar hosting service that provides the users with all features they need to host an interactive webinar. A webinar hosting service should offer custom solutions and support for all technical issues.
How much you can make: $15,000 — $897,000/month
How much does it cost to start: $4,000 (?)
How long does it take to build: 183 days (?)
Tiiny.Host is a web hosting company that's doubled its monthly recurring revenue every three months, amassing 40,000+ users by providing an easy-to-use hosting and file sharing solution, and built up its brand through SEO.
36. Start a pet company
Starting a pet business requires a lot of hard work and dedication, but it's well worth it. Not only will you be able to spend more time with your pets, but you'll also be able to provide them with a better life.
There's no shortage of products or services you can offer when starting a pet business. From food to toys to grooming services—the list goes on and on!
You can offer these services at home or another location that suits you best (such as at an animal shelter). This means that not only will you be able to make money doing something you love while also helping others—but you'll also get the flexibility needed to do it all from wherever works best for both yourself and your customers (who might not always have time or transportation).
If you love animals and want to make a living from your passion, starting a pet business might be the perfect fit for you.
How much you can make: $400 — $1,833,333/month
How long does it take to build: 90 days (?)
Furry Fellas Pet Service LLC is a successful pet sitting and dog walking business that brings in over half a million dollars in sales per year, boasts 3,500-4,000 social media followers, employs 42 individuals and has been voted in the top 3 pet sitting/dog walking companies in the RI/MA area for eight years in a row.
37. Start a stationery business
A stationery business sells stationery products such as paper goods, notebooks, greeting cards, and envelopes.
The best part about starting a stationery business is that it's relatively easy and inexpensive to get started.
Since there are so many different types of products available in this industry, there are endless opportunities for creativity, customization, and expansion.
You could even start out small by selling your products on Etsy or eBay before opening up an actual storefront.
How much you can make: $200 — $260,000/month
How much does it cost to start: $1,250 (?)
How long does it take to build: 52 days (?)
Chasing Planner Peace is a planner company that has expanded from selling planner inserts on Etsy, to offering a one-stop shop customizable planner experience with over 300 inserts, a planner line, and various other related products, gaining a monthly revenue of around $25,000 at its busiest time of year.
38. Start a music lessons business
Unlock the potential of a rewarding and creative venture with a music lessons business. Teaching music is as straightforward as it sounds: you share your expertise with budding musicians, either in-person or online.
This business involves offering one-on-one sessions or group classes aimed at different skill levels. By tailoring lessons to individual needs, you foster a deep appreciation for music while guiding students on their musical journey.
Starting a music lessons business means you'll need a solid understanding of your instrument and effective teaching strategies. Building a clientele may involve leveraging local communities or honing an online presence through marketing and social media.
If you're passionate about music and enjoy teaching, this business can be both fulfilling and profitable. The demand for personalized music education is steady, making it a viable option for those willing to put in the effort to build a reputable and engaging program.
How much you can make: $45,000 — $70,000/month
How much does it cost to start: $5,500 (?)
How long does it take to build: 105 days (?)
This case study follows Brooke Schrager's journey of starting a customized in-home music lesson business with only 10 students in January 2016 and growing it to over 200 students with monthly revenue of $20,000 in May 2021.
39. Sell construction equipment
The global construction market is set to grow to $222.14 Billion in the next few years. Therefore, the construction equipment business is one of the ideas that can be rewarding to sales professionals.
Reselling heavy construction equipment can be a great way to earn some cool cash. The construction equipment can include heavy-duty vehicles, engineering equipment, and heavy hydraulics.
Before launching, conduct feasibility studies and collect the address and details of all the construction sites and construction companies within your reach. Then, write a business plan focusing on the construction sites and companies listed above. Finally, to profit from selling construction equipment, source it carefully from manufacturers with a good reputation.
How much you can make: $20,000/month
Startup Mini Materials sells miniature masonry and woodworking supplies with a cult following gained through viral videos, social media and email newsletters.
40. 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.
41. 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.
42. 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 Iceland, 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.
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.
