Many people want to start their journey to become an entrepreneur but they are too scared of the Risks and difficulties that they may face, that’s alright as many career workers say the beginning is always hard, indeed starting a new business can never be an easy move that you are going to need many resources like money, employees, and experience as well.
There are thousands of domains right now, and finding the perfect one for you may not be easy so to help you with that, we’ve created a list that contains Top 10 Best Business to Start in 2024 that come with Low Risks and high Profits which has big demand and a lot of customers need it and also considering measures like service locations, growth and profit time, and also the benefits/costs value.
The articles you may need:
1. Import-Export Business:
So far the Import and Export model has worked very well for many people, and this is due to the variable in the prices of products in international markets. let us have some quick examples and do some math about that.
- Smartwatches in China cost around 5$-7$/piece, In the USA, you can sell them for up to 20$ easily (people would happily pay for them).
Now if you buy 1000 pieces of this product, it is going to cost you around $5000+300 in taxes, let’s say you sell it as I describe above for 20$ this totals 20k dollars which means around 14700$ in income. if you have some Marketing skills you can sell all this in less than a month, which is considered to be pretty good actually for a nice start.
However, it isn’t as easy as it seems. It also involves lots of hurdles and hustles, but a business is not a business if there is no hustling.
This unique idea is very helpful to people and the environment also could be very profitable, and it is also very simple.
Now, how about making a machine that can take the printed paper from one side and convert it into a completely blank sheet of paper, from my personal experience in schools, colleges,s, and offices I see lots of people taking so many printed daily, However, they wouldn’t mind also being eco-friendly and stop consuming paper in randomly way.
Most printer machines have been designed to only use one piece of paper at a time, my idea is to reduce this wastage. using conventional paper recycling takes a lot of time and also reduces the quality of the paper.
This idea could be very useful to the world and a famous project that could make you rich, However, to start this kind of unique business you will need to have so many build resources that are required to invest many if you are willing to take the risk into something new. However, I have some solutions and thoughts about this problem, you can contact me if you are interested.
3. Real estate investment:
There is a unique strategy that you can use to make money from real estate without the need for any significant experience or investing a lot of money, it is very simple as I will show in the steps below:
- Find a city with a population of over 100,000 residents.
- Find an apartment for rent and take it.
- Make an ad and put it into a local newspaper or use social media etc, that says you wanna rent an “apartment for daily payments”.
- Charge 10% of your monthly rent per day.
In this way, you will make double the profit of what the original owner made from you. and it is considered to be one of the best business ideas in 2024.
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4. Private driver:
If you have a car and know how to drive, then you can easily make around 15$ per hour by transforming yourself into a Private driver. To start doing this you need only to sign up for the platform that allows you to connect with clients, most known is the Uber platform which connects drivers and riders who want to head up to a place within the city.
Driver earnings are based on the distance and duration of the customer, Also most of the time, you will have tips from clients. I have met personally an Uber driver who told me he made actually up to $300 only from angles.
It is a good idea to start with especially if you are broke or you don’t have the capital to start a new business, also this is considered a full-time job and allows you to meet new people and live some new experiences every day.
5. Delivery agency:
This service idea is also legit because this business will not provide you with a reliable source of earnings it will also allow you to work with some unemployed people as part-time or even a full-time job. and it is one of the most successful businesses in 2024.
To start you will open an agency that pertains to the delivery of products, now you will sign up with store companies and markets, for example, Amazon Flex that is requires you to deliver the package from Amazon, and the company will pay around 2$ an hour.
If you start your agency with only 10 people and work around 8h a day you will make a great amount of money monthly, you can search for fresh companies and stores or also make an advertisement looking for people who may need this kind of service.
I would like to advise you to sign independent contracting parties means you pay the employee for every mission he has done and that way you will avoid payment responsibilities, Just when you open an agency remember that more people working under you, means more and faster money you will make.
The article you may need: The 20 Best Budget Phones of 2023
6. Coaching Classes:
The Best Businesses to Start in 2024.
We All have tried Coaching Classes in different types, sports, education, yoga…etc, the point is this kind of business could be very interesting to people, and as long as they need it, they will be happy to subscribe to it.
The most important measure that can make this business successful is knowing what people most need, to have this kind of information, you will have to do some analysis about the location or the city where you are willing to open the business in it. for example, discovering if people are interested in learning new languages or if they would like to start training.
Now what you have as an owner of the business is to rent a proper place for what you offer and hire people who have experience and are compatible with the service, if you start in a popular location you will start getting clients once you open and the business will start growing with time.
7. Food Truck:
Many people are underestimating this kind of business there are Food trucks that make a really big income every single day.
I have had a conversation with the worker who runs the same business in the very small wagon in the middle of New York City for years now and he confirmed to me that he made over 300k per year by only working less than 6 hours a day.
This is a really simple business, all you need to start is a truck and some cooking skills, also there a plenty of ideas that you can start serving for example vegan food, fast food, Ice Cream…etc.
One last notice that is worthy to mention is that in some places you may have to pay taxes even for this kind of business, in the USA for some specific places sellers charge buying tax at the location when you make the sale.
8. Affiliate Marketing:
E-commerce and the digital world become a part of our life and hold a big section in trade around the world, every company, and store is looking to have customers and sell their products, which makes them create an affiliate program that allows to any kind of people marketing of its products and give them a commission for every transaction.
Now you can start your business company which there is a lot like it, that manages the marketing of all kinds of stuff and start getting into contracts with companies to bring them customers and promote their services. However this kind of business is a good source of earnings, but it requires a professional marketer working under you. There are also a few advantages of starting a business like this for example low risks and High ROI.
9. Management consulting:
Management consulting is one of the most required jobs and it’s getting incredibly, in the USA analytics exposes that companies and organizations in different fields are spending over 200$ billion every year on this service.
Now it’s not as easy as it seems to be, in fact when the client demands this service from you he expects more than just advice which means you need to provide him with much information such as a hierarchy of purposes, Effective Diagnosis, and give solutions and recommending action in a different way you need to help others succeed by providing niche expertise that’s made by years of experience skills and education.
To start this kind of profitable business you need to collect people with experience in some specific domain and get some trade tools, also you will need to create your service websites, put your offers, and do some advertisements to get new clients.
10. Domain Name Buyer:
That is a very simple business that can give you a great income with low Risks and all you need to do to start is your laptop/smartphone and a little bit of money, then buy a domain name and sell it to people for profit. However, you need to know how to detect the required domain names, recognize the old abandoned ones with high Authority scores, and know SEO and keyword optimization.
To search and buy the available domain names you can use service provider websites like Namecheap, Godaddy, Dynadot…etc
How to make a business successful:
Having a successful business doesn’t just depend on the effective idea there are so many factors that depend on your efforts and the quality of the services that you offer. Here are some tips below that can help you:
- Find the problem that people will pay for to be solved.
- Fix the issue.
- Make the prices of your services available at the right price.
- Invest less money providing the growing plans than you earn in revenue.
- Always Remember to make your business helpful and profitable at the same time.
- Pay All the bills and taxes on time.
- Update your strategies over time, and try to make the services suitable for all people.