Referral Service Business

4 Referral Service Business Success Stories [2024]

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Updated: October 7th, 2024

Interested in connecting people and businesses for mutual benefit? Consider starting a referral service business. This venture revolves around linking clients with top-notch service providers or products that match their specific needs.

In simple terms, you become the bridge between those seeking a service and those offering it. You build a curated network of professionals and providers and earn a commission or fee for each successful match. This business model allows you to operate across various industries like home improvement, healthcare, or professional services.

The appeal lies in the flexibility and scalability; you can start small and gradually expand your network. Plus, with strong relationships and smart marketing, your referral service can become the go-to resource for quality connections. It’s an excellent way to leverage your skills in networking and customer service into a profitable business.

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

1. GrowSurf ($1.2M/year)

Kevin Yun, co-founder of referral software company GrowSurf, came up with the idea for the business after realizing that there was a lack of suitable referral software available on the market. After years of waiting for someone else to build the ideal solution, Kevin and his co-founder decided to create it themselves, with the vision of making it as streamlined as possible to integrate a referral program into any product. Since launch, GrowSurf has achieved an impressive $25k MRR and is focused on increasing customer retention and reaching $1 million in annual recurring revenue.

How much money it makes: $1.2M/year
How much did it cost to start: $0
How many people on the team: 2

How We Developed A $25K/Month Referral Software For Tech Startups

Co-founders of B2B SaaS startup GrowSurf, Derek and Kevin, developed a referral software for tech startups that has brought in around $25k MRR with a 6% monthly growth rate, overcoming generic messaging and a compromised product that wasn't a good fit for anyone.

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Read by 7,932 founders

2. CJAM Marketing ($312K/year)

While dining with a colleague, Behdad "Bee" Jamshidi was astounded by a friend's mention of someone earning over $50k monthly from SEO for dentists. Intrigued by passive income, Bee transitioned from his lucrative engineering career to founding CJAM Marketing, which generated $430,000 CAD in 2023.

How much money it makes: $312K/year
How much did it cost to start: $2K
How many people on the team: 0

How I Grew Business Matchmaking Service to $300K/Year

Matchmaker solves marketing puzzle for businesses, profits over $430k CAD in one year, connects companies with vetted agencies at an 80% success rate.

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Read by 3,344 founders

3. Spreadtheworld ($24K/year)

Xavier Coiffard, a developer turned solo entrepreneur, came up with the idea for his business, Spreadtheworld, after struggling to find online places to post his startup. He curated a list of 100 places and shared it on Reddit and IndieHackers, which gained significant traction. This led him to create a product, and from there, he launched several other successful ventures following a similar approach.

How much money it makes: $24K/year
How much did it cost to start: $0
How many people on the team: 0

How I Created A $2K/Month Startup Marketing Database Using No-Code Tools

Learn how Xavier Coiffard generated $2000 per month in revenue by building 4 products in 4 months with no-code tools like Carrd, Airtable, Gumroad, and Zapier, as well as how he soft launched his products on Twitter and iterated on his launch strategy.

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Read by 4,401 founders

4. bestcourses ($1.2K/year)

Janosch came up with the idea for bestcourses while searching for online courses to enhance his web development skills. He wanted to create a platform that made it easier to find and compare courses from different platforms. The idea was inspired by similar platforms in other niches, and by leveraging his experience in creating and selling online courses, Janosch saw an opportunity to make online education more accessible and transparent.

How much money it makes: $1.2K/year
How much did it cost to start: $0
How many people on the team: 0

How We Grew Our Online Course Search Platform To 600K Monthly Impressions

Bestcourses.io is an online course comparison platform that aggregates courses from major online learning platforms and enables users to easily find deals, with an impressive 500k+ monthly impressions and making $100/month from affiliate commissions.

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Read by 2,624 founders