The 32 Best Business Ideas To Start In Taiwan [2024]

Interested in starting a business in Taiwan in 2024?

We put together 32 of the best businesses you can start in Taiwan today.

In this list of ideas, you can find:

• Home-based businesses to start in Taiwan
• Profitable online business ideas
• Unique business opportunities for Taiwan
• Low investment business ideas (under $5k to start)
• Easy businesses you can start in Taiwan 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 Taiwan.

Here's the full list:

1. Start a boutique

You may consider opening a boutique if you are passionate about the fashion and textile industry.

A boutique is a shop that sells clothes. Opening a boutique is a dream for entrepreneurs who want to experience the joy and freedom of owning a cash business. Starting a boutique is easy and can be managed by a single individual. In addition, a boutique requires a comparatively smaller capital to start.

To succeed, the boutique owner must coming creativity and passion.

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 Taiwan:

• 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.

3. Start a jewelry product

Want a handcrafted business that combines creativity and commerce? Consider starting a jewelry business. Selling custom or unique pieces of jewelry allows you to showcase your artistic talent while tapping into a market that values individuality.

To get started, you need a basic set of tools for crafting your pieces, a good eye for design, and a supplier for materials like gemstones, metals, and beads. Online platforms like Etsy or your own ecommerce site can serve as marketplaces to reach a broad audience without the overhead of a physical store.

Marketing through social media, especially Instagram, can attract fashion-forward customers. By offering limited-edition or personalized pieces, you can build a loyal customer base. With some effort and creativity, a jewelry business can turn your artistic passion into a profitable venture.

4. Start a marketing agency

Marketing agencies can be a great option for businesses looking to advertise in different ways. For businesses, hiring a marketing company can help them achieve success as they don't have to spend money on employees or needed equipment. Marketing agencies are not inexpensive and there are many different variables that come into play when deciding which one is the best fit for your business.

You want to start a marketing agency, but don't know where to begin. You're not alone, there are thousands of entrepreneurs across the globe that have the same ambition. Luckily for you, compiled a list of how other agencies were able to grow their agency and scale effectively.

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.

6. Start a home equipment business

There are some cool things about the home equipment industry that make it an appealing business. Starting a home equipment business isn't easy. To do it properly, you need the right tools and equipment. Starting a home equipment business will definitely improve your financial outlook but you need lots of capital to start one.

Having a successful home equipment business is largely dependent upon the training and experience of the owner. Starting a home equipment business can be ideal for people who want to start a business but don't want the hassle of managing a physical location.

7. 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.

8. Start a fashion business

In 2022, the fashion industry was valued at $473.42B, with a growth rate of 8.3% over last year. To become successful in this highly competitive & ever-growing industry, you must have passion, perseverance, and the ability to take risks.

With platforms like TikTok and Instagram, the way that fashion products are marketed online has completely changed, so it’s essential to keep up with these trends.

9. Start a skin care product line

The skincare business is a multi-billion dollar one, and it shows no sign of slowing down. New anti-aging products are entering the market at a nearly exponential rate, and the competition for consumers' money is growing more and more.

The industry was valued at 130 billion USD in 2021 and will expand at an annual growth rate of 4.6% up to 2030. This is surely a type of business that you should not miss. You'll need to build your creativity on your products and make sure that it is all safe and useful in improving the skin of your customers.

10. Start a tutoring business

Starting a tutoring side hustle is a great way for teachers and students to earn extra monthly income.

If you are considering becoming a tutor, find an ideal tutoring niche, and craft a tutoring website.

Then, find your tutoring clients and market your side hustle online. You can choose to offer online tutoring as a part-time or full-time engagement.

11. Start a natural health product business

A natural health products business covers many products, including foods, supplements, drinks, and weight management products. Typically, natural health products go into the production of drugs.

It is easy to imagine why you would want to start your own natural health products business. First, health and wellness are hot topics right now. Everyone wants to be happy and healthy regardless of background, culture, or economic status. Second, the natural health products industry will exhibit a CAGR of 5.3% and reach over 32 billion in the next few years.

Therefore, the natural health products business can be a profitable venture. To maximize profitability, focus on providing health products that solve the problems experienced by your target customers.

12. Start an art business

Starting an art business can be a great idea if you have a passion for art.

You’ll be able to work on your schedule, set your prices, and do something you love—while supporting yourself or even making money!

There are so many different avenues available to you as an artist-entrepreneur right now—from selling your work online (on sites like Etsy), through galleries or museums, or even at craft fairs and flea markets.

13. Start an electronics store

An electronics store sells any electronics from smartphones to televisions, laptops, refrigerators and other home appliances. With the technological advancements in the past decade, the electronics sector is expected to grow by 5.6 percent over the next five years.

To start an electronics store, research and find the right location for your store, then register your company at the state level to get the tax ID number.

Then, research your competition, which includes online stores and the local electronics store in your area. You should examine what they sell and focus on the products you can provide at a better price than the competition.

14. Start a tea business

Tea is a hydrating beverage that comes in various flavors and types. History shows that people across the globe have been drinking tea for centuries.

According to experts, tea has a lower risk of different ailments, including cognitive issues such as heart disease, stroke, diabetes, and much more. Besides, some types of tea provide better sleep quality and help people relax, which lowers the risk of depression.

If you love drinking tea, starting your tea business could be profitable. First, decide the type of tea to start producing. The niche will depend on the audience you intend to reach.

Then, it would help if you determined the business type. Options include:

• Tea farming
• Processing and packaging plant
• Tea tasting
• Distributor or wholesaler
• Tea shop
• Tea blog

Register a legal entity and complete the tax registration for your tea business. Consider applying for insurance cover before launching your tea business.

15. Start a medical equipment sales business

Looking to dive into a resilient and growing market? Consider starting a medical equipment sales business. This venture involves sourcing and supplying medical devices and equipment to healthcare providers, hospitals, and clinics.

Your role? Bridging the gap between manufacturers and healthcare institutions. You’ll handle everything from negotiating with suppliers to managing inventory and ensuring customer satisfaction. The demand for innovative and reliable medical equipment is constant, driven by an aging population and advancements in medical technology.

This business idea requires dedication, industry knowledge, and strong relationships with both suppliers and clients. While startup costs can be significant, the return on investment can be substantial if executed well. For those ready to commit, the medical equipment sales business offers a profitable and impactful entrepreneurial path.

16. Start a textiles business

Stepping into the textiles business can shape your entrepreneurial journey in a unique and grounded way. Simply put, this involves producing and selling fabric products—ranging from raw fabrics to finished goods like clothing and home decor items.

The appeal lies in the craftsmanship and the endless creativity options. You get to decide whether to focus on sustainable materials, innovative designs, or high-quality products. The market for textiles is always evolving, giving you ample opportunities to carve out a niche.

Starting this business does mean getting your hands dirty—sourcing materials, managing production, and building a brand. However, the demand for unique, high-quality textiles remains steady, offering a fertile ground for growth. If you appreciate both artistry and meticulous execution, the textiles business may just be the right path for you.

17. Start an auto parts shop

If you want to start a retail business in the automobile industry, consider an auto parts business in Taiwan.

The auto parts business is one of the most successful businesses in the world. There are many Auto Parts Businesses in the United States, Canada, and the UK, where most are part-time.

Listed are the steps on how to start an auto parts shop business.

• Pick a location
• Do your market research
• Secure all permits and licenses
• Open a bank account for business transactions

18. Start a hardware store

A hardware store sells tools, farm implements, and construction materials such as nails.

To start hardware, decide between opening your hardware store or starting a franchise. A franchise store provides access to an established name, a well-proven operational model, and a reliable supply chain. On the other hand, starting your hardware store lets you make independent decisions about how the business will operate.

19. Become an eBay seller

eBay sellers sell new and used clothing, electronics, books, collectibles, and other items on eBay. If you are new to the eBay marketplace, it is best to start slowly, learn the landscape and its rules, and focus on growing your sales.

Whether you want to make some extra cash or clear out unwanted items from around the house, it is easy to get started selling on eBay.

Some things you'll need to do to get started:

• You must choose, and source products to sell, create, and verify your eBay business account.
• Personalize the eBay account and policies, set up payment details, and ensure you adhere to eBay rules and regulations.

Once you're up and running, you can boost your eBay sales using these marketing and promotion tools available provided by eBay.

20. Become a gifts and handicrafts distributor

Handicrafts are handmade products representing a nation's or tribe’s culture, values, and traditions. Gifts and handicrafts play a vital role in allowing people to show love and appreciation.

Therefore, if you are looking to start a business that promotes culture and beliefs, you can become a gifts and handicrafts wholesaler. The target market can be businesses specializing in corporate or social gifting such as birthday gifting, anniversary gifts, or other special occasions.

21. Start a mobile phone cases & accessories kiosk

The increasing adoption of mobile phones and other handheld devices has created a secondary demand for phone accessories. Experts project the mobile phone accessories market will reach $166 Billion in the next decade.

High-demand mobile phone accessories include phone cases, batteries, headphones, portable speakers, etc.

Opening a mobile phone accessories kiosk can be a profitable way to make money. Do you plan to start a mobile phone accessories kiosk? Find a busy shopping mall where people buy phones. You can sell mobile phone accessories in retail or wholesale only.

22. Create a play to earn game

Play to earn games are a new trend in the gaming industry. They are often blockchain-based games that reward digital assets.

These games that give players items, currency and other rewards for completing tasks.

The most popular play to earn games include:

1. Clash Royale (by Supercell)
2. Pokemon Go (by Niantic)
3. Fortnite (by Epic Games).

To create your own play-to-earn game, you will want to generate a few game concepts.

If you want to create your own play-to-earn game, you will want to generate a few game concepts. As a game developer, it can be difficult to decide what type of game you want to develop. This flowchart might help you explore your options in deciding what type of game to develop.

23. Start a property management business

Property management companies maintain a residence’s status quo by representing the property owners. The property management company markets the property and collects rent on behalf of the owners.

With the demand for housing increasing annually, the property management business is lucrative. Property managers earn commissions and have an opportunity to maximize profits by working for as many clients as they can handle.

24. 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.

25. Start a beverage company

Are you thinking of starting a beverage or drink business?

Starting a beverage company can be a great way to combine your love of food and drink with a passion for entrepreneurship.

Beverage companies can make all sorts of different drinks, from juice to soda to beer. They can also sell other types of food products, like bottled water or snacks.

There are more and more drink options available today than ever before—and that means that beverage companies are constantly trying new things in order to stay competitive in this space! The more innovative they can be with their offerings, the better they'll be able to compete with one another

26. Digital products

Digital products are top-rated. They’re easy to create and share and a great way to build a business.

Digital products can be software-based, like an app or game, or information-based, like an ebook or course. They can also be something else entirely—like a membership site or a community. The possibilities are endless!

So what makes digital products such a great way to build a business? Well, first of all, they’re effortless to create. You don’t have to hire anyone else to do it for you; you can do it yourself! And because there’s no risk of having inventory sitting around in your garage, digital products can be sold directly from your website without worrying about moving merchandise.

27. Become a digital product designer

A digital product designer is a multidisciplinary professional who is involved in the creation of digital products. A digital product designer is responsible for the whole process from an initial concept to the launch of a product.

Many designers are looking for how to make a living with their designs. They want to build websites, sell products online, and be as productive as possible. It's hard these days because there are more designers than ever working on the same projects. But with some basic actionable techniques, you will easily succeed in creating a sustainable digital product design business.

Starting a digital product designer business is a great side hustle for graphic designers looking for an alternative to freelancing. The idea is simple: grow a portfolio of user interface design PSD templates and sell them to new businesses.

28. Start a bags store

Bags are more than just functional items; they're fashion statements, travel essentials, and daily companions. Launching a bags store can capture this diverse market.

Your business revolves around offering a curated selection of bags—from chic handbags and rugged backpacks to sophisticated briefcases. Consumers constantly seek quality and style, making this a lucrative niche.

With the rise of e-commerce, starting a bags store online allows you to reach a global audience with relatively low overhead. To succeed, focus on sourcing unique, high-quality products, building a user-friendly website, and leveraging social media for marketing.

By combining aesthetic appeal with practical needs, your bags store can attract a dedicated customer base craving both function and fashion. It’s an opportunity to enter a growing market with endless potential for creativity and personalization.

29. Start a t-shirt customization kiosk

One of the great things about starting a T-shirt customization business is that you only need a minimal overhead, and you could do it out of your backyard without issues.

However, before you ask how to start a T-shirt customization business in Mumbai, take a minute to consider why you want to create a T-shirt business. Probably the promotional products or uniforms niche is under-served in your area.

Before starting, you should outline your foray into the T-shirt customization business. Then, you need to identify the target market to understand better how you want to sell your customized t-shirts.

Once you have defined the niche market, you can develop custom designs as per the customers’ expectations. The following steps will be making the business legal and determining the overhead. Finally, market the business but do not overextend yourself financially.

30. Become a NFT broker

A None-Fungible Token (NFT) is a digital asset representing real-world objects, people identities, property rights, e.t.c.

Ideally, NFTs exist on a Blockchain and traders cannot replicate them, since they feature unique identity codes and metadata as the key identifiers. Therefore, it is impossible for one NFT to be equal to another, which is critical, especially when it comes to digital ownership.

Digital ownership is still a new concept, but one that is becoming increasingly popular especially with NFT trading taking shape. According to a 2021 report on NFT trading, NFT Sales Amounted to Over $2.4 Billion in the First 6 Months of 2021.

Are you fascinated by NFT trading? In this post, we highlight the top NFT broker businesses in 2021.

31. Start a maintenance and repair blog

A maintenance and repair blog is a content website or platform that covers the latest on automobiles. Running this blog, you can focus on particular vehicle makes or models, offering in-depth tutorials and tips for DIY repairs. Blog-writing is a slow process, which can also be pursued while being employed in a day-job.

As your auto blog attracts good traffic, you can branch into video tutorials, e-books, or online courses, monetizing your experience in the form of digital products. Blogs that dominate in certain niches attract lots of opportunities which can make this business a thriving online business.

32. 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 Taiwan, gain insight from consumer preferences and focus on serving modern consumers what they need.

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163 Million Dollar Solopreneur Business Ideas

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163 Million Dollar Solopreneur Business Ideas

Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.

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163 Million Dollar Solopreneur Business Ideas

Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.

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163 Million Dollar Solopreneur Business Ideas

Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.

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163 Million Dollar Solopreneur Business Ideas

Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.

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163 Million Dollar Solopreneur Business Ideas

Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.

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163 Million Dollar Solopreneur Business Ideas

Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.

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163 Million Dollar Solopreneur Business Ideas

Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.

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