Business Idea: Build A Software Tool in 2024
Businesses are focusing on automating their operations, a need that has resulted in increased demand for software developers.
If you have software development skills and looking for a low maintenance business idea that will generate passive income, it is time to practice your skills.
A software company can build a plethora of applications and earn a passive income from them, with very little to no maintenance needed to keep the applications running. If you plan to start a software business, research the market to find high-potential opportunities. You may focus on a certain niche, or serve any business.
Choose a payment option that allows you a passive income over the lifetime of your software.
Revenue & Profitability
How much do software tools make?
- On average, successful software tools report $24.6M/year in revenue.
- 100% of software tools report being profitable.
Startup Costs
How much does it cost to build a software tool?
- It can cost as low as $100 to build a software tool.
- It can cost as high as $60,000 to build a software tool.
Learn more about the costs of a software tool.
Examples Of Successful Software Tools
Successful software tool businesses and case studies
Nextiva, an Arizona-based business communications company, has developed an all-in-one platform called NextOS, which offers CRM tools, team collaboration tools, and business communication tools, resulting in a significant shift in its business model, and has grown from just a few employees to over 1,000 spread around the world, entirely self-funded, and focused on providing amazing service to its customers.
This case study showcases how ScrapingBee, a web scraping API, was built on a shoestring budget using a mix of tools and outsourced services, achieving impressive growth through SEO content and targeted marketing strategies, with revenues averaging $125K/month, generating $1.5M/year since 2019.
See full list of successful software tools.
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Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
