Product Development Company

2 Product Development Company Success Stories [2024]

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Updated: October 10th, 2024

Imagine turning innovative concepts into market-ready products. A product development company does just that. In simple terms, you would work with clients to bring their ideas to life—from the initial design and prototyping to final production and market launch.

Establishing a product development company involves a multitude of tasks: understanding client visions, conducting market research, and coordinating design and engineering teams. This type of business thrives on creativity and problem-solving, making it an engaging venture for those who love to build and innovate.

Opportunities in various industries, such as tech, consumer goods, or medical devices, ensure there's never a dull moment. If you're passionate about creating impactful products and enjoy the diverse challenges of development, starting a product development company could be the fulfilling career you're looking for.

In this list, you'll find real-world product development company success stories and very profitable examples of starting a product development company that makes money.

1. illumisoft ($792K/year)

Dan Prince, founder of illumisoft, started the company because of his passion for technology and creating innovative solutions. He realized that many technical projects fail because of a lack of understanding between business and technology. illumisoft bridges that gap by understanding the client's needs and designing solutions that meet their expectations. With over $10 million in projects and zero failed projects, illumisoft has become a trusted software development company in the healthcare industry.

How much money it makes: $792K/year
How much did it cost to start: $0
How many people on the team: 2

I Built A $792K/Year Software Development Company [For The Healthcare Industry]

Illumisoft, a software development company specializing in cloud migration, web applications, business solutions, and data management, has experienced consistent growth and success with 42 completed projects worth over $10M, 30 different clients, and 100% 5-star reviews, while focusing on providing services solely to the healthcare industry and changing lives of hundreds of thousands of people worldwide.

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2. BRCHN Design House ($480K/year)

Sam Birchenough, driven by a childhood passion for building and taking things apart, founded BRCHN Design House in 2015, enduring six months of zero income and $35,000 in debt before turning the business into a success, with current monthly revenues between $20,000 and $80,000.

How much money it makes: $480K/year
How much did it cost to start: $1K
How many people on the team: 1

How I Went From $35K In Debt To $40K/Mo With My Product Design Company

This case study outlines how BRCHN Design House went from starting with no revenue to bringing in $20,000 to $80,000 monthly, by developing an efficient product design process, leveraging networking opportunities, and retaining clients through exceptional service.

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Read by 840 founders