Editor’s note: This article was first published in October 2017; it was updated in January 2019, hence the title. Several references have aged: Google Helpouts closed in April 2015, Google’s mobile-friendliness ranking change dates from 2015, and platform details for oDesk, Udemy and Envato are older.
In a previous article we shared some profitable business ideas you could start in 2018, and you can even run some of them from home. And since, when it comes to starting a company, I don’t like getting into the usual ideas like walking dogs or becoming a taxi driver, let’s look at some markets that in my opinion could be very profitable, aren’t necessarily hard to break into, and don’t need much initial investment. Of course, it all depends on whether we want to take the company to another level or simply make some money.
Either way, let your imagination run free and try to adapt these ideas with creativity and originality until you turn them into profitable businesses your own way.
Updated in January 2019: we’ve written several articles with more than 80 ideas for all kinds of small businesses:
- 30 small business ideas that can be very profitable
- 21 small businesses you can start (part 2)
- 37 profitable small businesses with high returns and low risk
Which businesses are profitable if we execute the idea well? Here we go
(See also: 17 business ideas for small towns and villages)
Although we’re going to look at a lot of ideas, you’ll notice a pattern that repeats itself: technology, clothing and food come up again and again. In fact, thanks to the internet and globalisation, starting your own clothing business is very easy. We’ve already talked about how to start a business selling T-shirts on Amazon, although it’s also feasible to hire a factory to make our own clothing brand. It’s much easier than it seems.
There’s the case of two brothers who one day decided to quit their jobs to sell ties and suits with distinctive colours, and later all kinds of clothing. In Madrid (Spain) there’s also the case of four unemployed women who decided to bring back 1920s fashion. The good thing about clothing is that vintage is also a profitable business these days.
As you’ll see, clothing, food and technology are among the most profitable businesses of 2019.
Not to mention that clothing franchises are also becoming a guarantee of success, and some of them can be started with little investment.
As for the whole range of new hospitality businesses, just take a look at our articles on entrepreneurs to see that, while we’re not going to dethrone McDonald’s, we can imitate its business model and take it into other territory, as healthy fast-food franchises do.
And there’s little more to say about the internet. You can innovate, or you can copy an idea and improve it. It happens every day. Not every entrepreneur will succeed, but not all of them will fail.
1. A venue that showcases local bands and singers
This idea is among the businesses that work in the United States, and venues like this are starting to open in Spain. The idea is a venue (a bar, a pub…) where local singers or bands can be heard live.
If you know how to promote it well, you can make a difference in your city.
2. Messages on clothing or objects
One business idea that has proved very profitable in recent years is selling T-shirts with personalised messages or slogans. Just ask brothers Bert and John, who had the idea of selling T-shirts with messages like “life is good” and ended up building a 100-million business selling these T-shirts.
Then there are other products like “existentialist mugs”, which basically involved putting a different kind of message on mugs, such as “you’re an idiot” or “your life sucks”.
It’s not exactly motivating, but when we wrote about it and visited the company’s website, most of the mugs had sold out. The success of the idea may have lain not in the product’s usefulness but in the fun of giving someone one of these mugs as a joke.
In any case, these are simple ideas that don’t need much money to get started, and you can gradually test what works and what doesn’t. For these entrepreneurs, it was certainly a very profitable business.
3. A company that plans surprises for couples
Since we love watching over-the-top marriage proposals in films, there may be a gap for a place to go when someone wants to do something big and loud for their partner. And it doesn’t have to be a marriage proposal.
It could also be for a birthday, or even a little prank that ends in words of thanks. Let your imagination run free: in this sector, if the price works for customers, it can be something lovely and in demand.
4. A shop selling local crafts
Another idea typical of Britain and the United States: you open a shop selling products made by local artists and craftspeople, from artworks such as paintings and sculptures to all kinds of handmade goods.
In this kind of business the entrepreneur is simply an intermediary between the makers and the end customers, and can charge a commission on each sale. It’s also a way to raise the profile of local artists, who get the chance for people to see their work.
5. Decorative products for mothers, children and the home
A few months ago we described the case of a young woman living in Spain who started making custom silhouettes for babies to order. With no website and no internet experience, she started using Facebook to promote her product and sell it through the social network.
In a very short time, what began as a way to earn a little extra money became a very lucrative business for her. Making something by hand, tasteful and eye-catching, and selling it online is one of the businesses that work and one of the most popular ways to make money lately.
Some ideas for making money quickly and without investment?
Even if it isn’t a business as such, we can always make some extra money with ideas like the one below, for which you’ll only need a laptop and, in some cases, a bit of creativity. We start from the premise that a lot of money moves around online, and practically anyone can make some of it.
6. Affiliate programmes
When we talk about affiliate programmes, we mainly mean Amazon, eBay, AliExpress… companies that let you promote a product and pay you a commission whenever someone buys it through the link you’ve posted.
Put like that, it may not sound like much, but if you manage to build a blog, a YouTube channel or an Instagram account with thousands or millions of visits or followers, you won’t even need to try to sell to those people; you’ll only need to make honest recommendations.
This idea requires no investment, but it does require some groundwork. Even so, it can be another attractive source of income. For some people it turned out to be so profitable that it’s now their main business.
(See also: 38 ways to make extra money from home or online)
Profitable businesses where you don’t have to be there
This is one of the most common questions from people keen to start a business. We start from the premise that a business that needs you to be present in order to run isn’t a business, it’s a job. Now I have good news and bad news. The bad news is that to start any kind of business, whatever it is, you’ll have to make a big effort in the short term to get returns in the medium or long term. Now for the good news.
Any business can be set up so that you don’t have to be there. Otherwise, it would be a bad business.
You have to distinguish between starting a business as a self-employed person and building a business that is an asset
An asset is something that generates a profit for you while you spend your time generating more assets (creating other businesses).
A self-employed person, on the other hand, usually runs their work in such a way that when they get sick, the business practically stops.
Some time ago I was given a piece of advice: “If you start a business and it takes up your whole day, start another business or another branch, and then a third.” That way, since there’s physically no time to be present at every business, your mind has to find a way to manage the company without being there.
That said, internet businesses, vending and even franchises are profitable business models that come with the built-in option of not having to stand behind the counter 24 hours a day.
7. Selling courses or tutorials on platforms like Udemy
If you’re very good at something or consider yourself an expert on a subject, selling your knowledge can generate a good deal of income, from a few hundred euros to hundreds of thousands of euros, as has already happened in some cases.
Course platforms are very easy to use, uploading your material is free, and you share the profits with the platform. However, the production of your content does need to be professional these days. The quality bar for courses is high. Once you’ve got all that sorted, it can be a very lucrative business idea today.
In fact, it’s considered the most profitable business right now.
8. Sell your expertise by the hour
Whether your thing is translation, document management or design, on sites like Fiverr and Geniuz you can offer to do the tasks people are requesting for an agreed price per service. It’s not one of the most profitable businesses, but it will help you earn some money.
9. The service provider business
A simple way to start a business with practically no investment is to become a provider of various services by talking to different distributors and negotiating a commission on sales of their products or services. All that’s left is finding customers.
For example, one way I made quick money in the past while getting other projects off the ground was by teaming up with a distributor of heating, air conditioning and boilers. When someone was thinking of installing heating at home, I’d call the company and have them prepare a quote, present the quote to the customer, and if I closed the sale, I’d take a 10% commission. The company took care of the rest of the work (the installation).
Before long I started adding other products to my portfolio (windows, doors, furniture…). For me it was very profitable because I was selling things that weren’t mine and that I didn’t have to buy. So my risk was zero.
More profitable businesses: 22 business ideas to start in 2018
10. Bringing the internet advertising model into the offline world
Some time ago we wrote about how several entrepreneurs had adapted the internet’s “everything free” model to street businesses. One entrepreneur came up with the idea of supplying pizza boxes to pizzerias for free in exchange for being able to put advertising on them. Another did the same with takeaway coffee cups, and another with bread bags.
At the end of the day, an advertiser just wants their company or ads to reach a large number of consumers at a good price, so there’s still room to innovate in this market. Any ideas?
11. A new “Coca-Cola”
In his book Losing My Virginity, Richard Branson explains how making a cola drink is very feasible for anyone, because of the low production costs of cola.
In fact, Branson created Virgin Cola, and while Coca-Cola is hardly in danger from Virgin Cola, in a short time it managed to bill more than 50 million with that cola, thanks to its good taste and very competitive price. A Greek company managed to stand up to Coca-Cola in Greece. What we mean is that Coca-Cola isn’t untouchable, and you can take a bite out of its market.
12. Selling specialised food (delivered or on the premises)
Consumers increasingly want more variety in menus to suit their eating habits. Some entrepreneurs have shown how you can start an organic and baby food delivery business from your own home, but customers also want vegetarian, vegan and diabetic-friendly food, and so on, and they appreciate variety and specialisation. So you could open a restaurant with different sections for special diets, or start a food delivery company for these customers.
Some say these aren’t usually profitable companies, but the millions in turnover of some of these entrepreneurs (see the link above) show that it all depends on the approach you take to the idea.
13. Mobile hairdressing and beauty services
Some time ago we came across a business idea from a company offering a mobile hairdressing and beauty service. In other words, they had a van equipped with everything they needed to offer a range of services (nails, haircuts, styling…).
At the same time, more and more businesses save on retail premises and offer their services at clients’ homes, even at weekends, so a client who has to attend a wedding at five o’clock on a Sunday afternoon could ask a professional to come and get them ready on Sunday morning.
14. A second-hand shop for baby and children’s items
Having a child involves big upfront costs: a cot, a pram… products that many families have to make a considerable financial effort to buy, so a shop offering them at a better price could be just what they need. The same goes for young children’s clothes, which they outgrow quickly. Business and children make a very profitable combination.
15. Selling custom T-shirts
Having a good idea and putting it on a T-shirt has proved to be among the most profitable businesses right now. Just ask the creator of “10 rules for dating my daughter”, who put that message on a T-shirt and found tremendous success. Our dear entrepreneur Andreea Ayers also came up with the idea of positive messages on T-shirts, and that’s where she started earning large amounts of money, which she used to build other kinds of businesses. Remember that to make a lot of money you don’t necessarily have to invent a cure for cancer. Sometimes the simplest things earn much more.
16. Self-defence
The world is becoming an increasingly unsafe place, and more and more dangers lurk on the streets, especially for women, who can be more vulnerable to all kinds of attacks, so self-defence will always be in demand, and for now there’s plenty of room to innovate. Just as there are personal trainers to get you fit, people are now also asking for private self-defence instructors.
17. Recording music demos
With the boom in all kinds of talent shows looking for new musical talent, most aspiring artists need a demo, and you no longer need an old-style recording studio. Thanks to technology, you can turn any room into an excellent studio with enviable sound, and certainly at a good price.
18. Buying and selling used cars
Buying a car for 800 euros, fixing it up and selling it for 2,000 euros is still a very profitable business, especially with high-end cars. If you love cars and know about mechanics, the used car industry is almost as profitable as selling new vehicles.
(See: 9 very cool business ideas that started in the United States)
19. Renting clothes for special occasions
You’ll probably wear a wedding dress only once in your life, and a tuxedo maybe once a year. And they’re expensive, so shops renting this kind of clothing are multiplying. The same goes for costumes for specific dates such as Halloween.
20. Local newspapers and magazines (print and online)
Maybe you need to think small and produce a magazine for a small town of 8,000 people. It can be in print or online, and if you achieve good visibility and win over a large share of the residents as regular readers, local shops could be very interested in advertising their offers through your small publication. It’s a matter of doing a small market study to analyse the project’s viability. It could be a profitable business.
21. Second-hand office furniture and tech equipment
When a company goes bankrupt, closes down or simply wants to replace its furniture because it has grown a lot or is doing a light refurbishment, it’s usually left with a lot of furniture that I’m sure would suit an entrepreneur who’s just starting out or a small business without much capital to invest at that moment.
From computers to office desks, you can negotiate to buy at a good price and sell at a good price to another company. You could even create your own website and build a very profitable online business buying and selling second-hand office furniture.
22. Making and selling natural cosmetics
Natural products still attract attention, and making natural cosmetics isn’t very difficult, so it’s a matter of creating your own cosmetics brand with the competitive advantage that yours are natural. The number of companies selling these cosmetics has already grown, but there’s still room for a few more players.
23. Market research for online businesses
Oddly enough, there are plenty of companies doing market research for offline businesses, but very few doing market research for an online idea.
An online business requires little investment and so carries a low risk of losses, but we waste time and enthusiasm if our idea fails. So if, as well as carrying out feasibility studies for online projects, we also act as advisers, there could be a business here. This field isn’t heavily exploited yet. We’ve already discussed market research and market researchers in our article with profitable business ideas for entrepreneurs who love to travel.
24. Building apps for businesses
Companies are increasingly aware of the growth in mobile internet use. Google now even penalises the search rankings of businesses that haven’t adapted their designs to mobile devices, so there’s a business opportunity in adapting website templates to mobile devices, as well as building company apps to offer other services through them.
25. eBay sales adviser
Lots of people know they can sell anything online, whether on Amazon or eBay, but some don’t know how and others don’t have the time. So you can teach those who don’t know how for a modest fee, and sell on behalf of those who don’t have time, charging a small commission.
Likewise, you can find on eBay what lots of people need: buying products online at a good price and selling them offline can also be very profitable.
26. Being an expert is always among the most lucrative businesses
It doesn’t matter in what, but being an expert in any field is already a licence to make money from it. If you have knowledge other people need, you have a business. So think: what are you really good at today that others might need?
It could be opening businesses, taxation, filing income tax returns, or simply passing on decades of work experience to young people starting out today. Think about it.
27. Business etiquette and protocol firm
Whether someone needs to travel abroad on business to a country like Japan (which requires learning Japanese negotiating etiquette) or we have a business dinner, many people underestimate the power of being prepared for these situations. Today protocol training could go further and even teach body language techniques as well as appropriate dress. It’s a very select field as a business, but it can be just as profitable.
28. Talent-scouting firm
Many will say there are already plenty of companies that call themselves headhunters, but believe me, there aren’t as many as it seems: from my professional experience I can tell you that several of these firms, which enjoy a good reputation, were responsible for recruiting the most incompetent people I’ve ever met.
I don’t know how they do it, but they don’t do it well at all. I think they focus less on the talent that’s waiting to be tapped and more on a set of skills that are often outdated and useless.
For me, a true talent scout should be able to spot a good team leader behind the counter of a bar or under the cap of a Burger King employee. And doing that takes talent, the very talent most self-styled headhunters lack.
29. Small business consultancy
Many small businesses and entrepreneurs make beginner’s mistakes that could easily be avoided if someone warned them. And it isn’t true that you have to fail to learn: sometimes you can learn the lesson from a mistake you were about to make but didn’t, thanks to good advice.
So even if you were a business owner who once drove your company into bankruptcy, you have a lot to teach new entrepreneurs. And if you succeeded in business, all the more reason.
Some businesses you can run from home with no investment
The business ideas in this section are a bit more typical and familiar, but remember there’s always some way to innovate. And at other times a business is exactly what it sounds like, and that won’t stop it bringing in money.
30. Yoga classes
This discipline keeps growing, and you can teach it from your own home, in a rented space or out in the countryside.
31. Dance school
Whether as therapy or to learn ballroom dancing, lots of people are interested in this service, which can even be pitched as a way to meet people and have a good time while learning to dance.
(See: The 33 businesses of the future and the industries that will create jobs)
32. Personal trainer
You can teach people exercises they can do at home, using just their own body and without going to a gym.
33. Making handmade products
From costume jewellery to woolly hats and gloves, today you can promote these products through social media. Many people already earn considerable extra money selling their products to their social media contacts.
34. Virtual assistant
You can look for ways to offer your services as a virtual assistant to earn extra money, or you can do it as a big business, with several people working for you to provide all kinds of services to companies.
35. Online private tutoring
This way of making money is already well known, but now, thanks to Google Helpouts, the process is simpler.
36. Create and sell courses
Thanks to sites like Udemy, anyone can now create their own course and sell it on the platform at whatever price they see fit. And this way of making money has already allowed some people to earn tens of thousands of euros a year, even hundreds of thousands.
37. Express clothing alterations
Since the big clothing stores (most of them, at least) stopped offering a personal alterations service, there’s a business opportunity for people who know how to sew.
38. Make money creating music (if you’re a musician)
A huge business is growing up around music with the rise of video creators on YouTube, Vimeo and so on. Those of us who create content sometimes need background music for a video, and although there’s usually free music available, sometimes you want something different, even if you have to pay a modest amount.
There are also many platforms offering content creators a monthly or annual flat rate to download all the royalty-free music they need.
These platforms share their profits with the music’s creators. If your music is good, it will be downloaded, and if it’s downloaded, you’ll make money. It’s definitely a good way to turn your passion into a business. One of the biggest platforms for selling music is Envato.
39. Event planning
I think this field still has plenty of room for innovation, lots of new services to offer and a lot of price-cutting to do. The most important things for starting this business will undoubtedly be contacts and your organisational skills.
From product launch events to corporate events, and even finding ways to help new experts in a particular field make a name for themselves through talks or conferences, let your creativity loose and think about how to improve what already exists in this field.
40. Business ideas taken from the movies
Films can sometimes be a great inspiration for successful businesses, even if some of the ideas have to be adapted. Some time ago we looked at four ideas taken from films, including companies offering rather unusual services: the professional break-up artist, an alibi company for infidelity, “Doctor Love” and an extreme entertainment company. Who knows?
41. Low-cost courier companies
Courier companies are booming. Online shopping is generating more and more deliveries. Much of this sector is dominated by giants the size of Amazon, which can secure good shipping rates, but one very profitable market is second-hand goods. Buy-and-sell apps like Wallapop expose a problem: sending a single book can cost €4.95 if it weighs more than 500 g, and shipping becomes too expensive for low-priced items.
That’s why there’s a market for some kind of low-cost courier service. We know it isn’t easy, but if you find a way, you’ll clearly be able to compete with the giants of the courier industry.
You could also start a local green courier service using bicycles. It’s a matter of putting your thinking cap on.
Even if you think companies like Glovo have already had this business idea, there’s very likely still a lot to innovate and improve in this sector.
Looking for untapped or barely exploited business ideas?
At this link you’ll find some business ideas that are profitable outside Spain but still untapped there. And we end that article with some ideas nobody has exploited yet.
Featured image: Meul, CC BY-SA 3.0, via Wikimedia Commons.
