Thinking of starting your own business but not sure where to start? We've scoured Reddit to bring you insider views from those who've turned their unique visions into thriving businesses. Check out these 15 promising industries for entrepreneurs.
A tech advisor shares that the tech industry can make you “tons of money.” However, they also warn about the relentless workload it demands, where you might not get the time to enjoy the money you make.
Virtual Assistant Placement
Think of this as a matchmaking service for businesses and virtual assistants. With more people working online, there's a big need for remote helpers. Recognizing a gap in the market, one entrepreneur bootstrapped a virtual assistant placement company. “(I) came up with it because I worked in the industry and saw the need,” they explain. This industry is ripe for those with an eye for niche opportunities.
A venture-backed SaaS healthcare company shows the potential of combining technology with healthcare. “The VC model is wildly different,” says the founder, highlighting the unique challenges and opportunities in this space.
The rise of online shopping has made e-commerce a hot industry. One entrepreneur shares, “I’m happy if I get 1 hour of relaxation a day,” indicating the demanding nature of this fast-paced sector.
Water Operations and Maintenance
Specializing in a niche market, one company provides essential services for rural water systems. The founder notes, “I can work 60 hours a week during crunch times, but most weeks it’s under 30,” showing the flexibility and variability in this industry.
Online Food Ordering SaaS
Creating a special kind of software that makes it easy for restaurants to take orders online is one of the most profitable businesses. Targeting local businesses, an entrepreneur in this field boasts a seven-figure annual income.
Virtual reality is an emerging market with a lot of potential. A Redditor who owns a VR arcade shared, “We make about $150,000 gross (with the VR arcade).” This shows the growing popularity of immersive experiences.
Starting a company that makes or runs online games can be a profitable business. A user shared their experience of building a “large online game company with only a 500” and making “a ton of money” from this. It could be anything from mobile games to big multiplayer games.
Cyber Security Contracting
Specializing in security for physical assets, this industry is crucial and growing, especially with increasing digital threats.
Focused on value management, growth plans, and capital raising, business consulting remains a cornerstone industry for entrepreneurs with expertise in these areas.
This is all about creativity. You're designing websites, logos, or even product packaging. It's artistic, and you get to work on lots of different projects. One entrepreneur shares, “(I) co-founded and scaled a design agency… now my days are pretty open,” shares one entrepreneur.
Project Management Software
Creating tools that help people manage projects within specific industries, like web development, can be a lucrative business. It's all about making software that's super helpful to businesses and keeps everything organized and on track.
Starting a business that offers cleaning services to homes, offices, or maybe even industrial spaces remains a staple. It's straightforward, always needed, and a great way to start in the entrepreneurial world.
Catering to the needs of high-level professionals, executive coaching is an industry that thrives on personal development and leadership skills. It's a mix of mentoring, teaching, and motivating.
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