Top 13 profitable small business ideas in 2024

Best small business ideas to be aware of 

Take inspiration from this list of creative small business ideas, but don’t forget to trust your gut and think outside the box. 

Bicycle repair shop

With humanity taking a greener path into the future, bicycles have become a popular means of transport and recreation in recent years. 

According to research from NPD Group, mountain and electric bikes are the fastest-growing types. Moreover, they report that in the US sales for bike services/repairs have grown by 3%. In the same manner, Germany is seeing a spike in bicycle sales and the Italian government covers 60% of the bike price.

So if you’re a fan of biking and save some repair skills, it’s a great time to put them to work.

Dropshipping

By 2027 the dropshipping industry is projected to reach to $600 billion, so this decade might be the best to start your own dropshipping business.

It can be quite a lucrative small business idea because you are not responsible for the shipping and the manufacturing. This allows for a smaller investment at the start and could bring a nice profit if you find a reasonable reseller. 

The dropshipping niche is a bit harder to enter due to all the potential options, but luckily if you are wondering how to start a dropshipping business there are many resources on the Internet to help you start on your journey.

Print-on-demand business

If you’re a designer and want to start a small business, you can customize popular products with your own design and create a print-on-demand business.  

T-shirts, hoodies, coffee mugs, posters, stickers – you name it. The best part? It works on a dropshipping model, taking inventory, shipping and fulfilment out of your hands. You can also use mockup images to promote your designs, saving you time and money on photoshoots. 

So it’s not only affordable but you’ll have more time to focus on building your business and creating beautiful designs.

Online tutoring

There’s been an increasing demand for online tutoring and teaching, and this has opened up opportunities for entrepreneurs. If you have a skill, knowledge or expertise that’s in high demand, you can turn this into a thriving business. 

From math and language classes to coding and painting, this is a perfect no-investment business for anyone who wants to help others become better at a specific area. 

You can either market yourself or join platforms like BuffTutor and Tutorme to get started.

Pet sitting

There are over a billion people in the world who have pets. That number is only increasing which is good news for you if you’ve been looking to start pet sitting. 

As long as you’re an animal lover and have some experience in taking care of our furry friends, you can offer services like dog walking or pet sitting on either long-term or short-term notice. 

The best part is that if you have another job that doesn’t require you to be in the office or on-site, you can work both jobs with ease. Two birds with one stone!

Freelancing business

This one is a no-brainer. Copywriting, design, developing, virtual assistance, event planning – all and more can turn into a booming freelancing business. 

There are tons of companies and founders who are actively hiring freelancers to work with them, whether long-term, contract-based or as a one-time thing. All you need is a laptop and a stable internet connection.

Establishing a network with other freelancers and clients is key here. And the more positive feedback and referrals, the more business you’ll have.

Landscaping

If you have an eye for outdoor design and enjoy taking care of your home, landscaping can be a lucrative business for you. This includes mowing, flower planting, tree trimming, yard decor, etc. All you need is equipment and passion for it. 

You don’t need formal education or a certificate to start but if you want to build industry connections and gain credentials you might want to look into it. There are also tons of courses you can take to go to the next level.

Co-working + childcare

It was about time that childcare became an essential part of co-working spaces. Utterly practical and life-changing for parents who don’t want to abandon their careers. 

Especially for moms who don’t have much maternity leave and don’t want to abandon their child so soon. In fact, it’s a lot cheaper and less complicated in a logistical sense compared to traditional daycares. 

Slowly but surely co-working spaces that offer on-site babysitting are becoming the norm. Moreover, the competition is not that harsh so you can come up at the surface more easily, making it one of the best small business ideas.

Sustainable packaging

Millennials and Gen Z are on a mission to save the planet and sustainability plays a big role in all of this. With many countries closing their doors to waste and passing regulations to protect the environment, sustainable packaging is a business idea that can bring you massive profits in the long run.

The demand is on the rise with no prospects to slow down anytime soon. Sustainable packaging is on the agenda of almost every big brand in the world.

Reduce, reuse, recycle – that’s the motto here!

Photo printing

When digital photography became available to us we quickly forgot how precious it is to hold photo albums in our hands. For years all we’ve done is take tons of photos, put them in a folder on the computer and forget about them. And with technology having a limited lifespan, many memories have been wiped and gone forever.

3D printing

With photo printing, we’re going back in time, but 3D printing takes us into the future, making it one of the hot new business ideas. 

Are you a good designer but don’t know how to turn your skills into a money-making machine? The answer is 3D printing – it isn’t just for prototyping anymore. 

3D Hubs report that in the next five years, a growth of 23.5% each year should be expected, with a current market size of over $10 billion. Similarly, 3D printing is one of those sectors that experienced growth amid the pandemic. 3D printing jumped to rescue health workers across the world and significantly decreased the shortages of PPE (goggles, shields etc.).

 Handyman

The home repair industry has a market value of around $500 billion and handyman skills are evergreen – they have been, are, and will always be in demand. Figure out which area you like best, specialize in it, and get to work!

Personal trainer

If you’ve built yourself a strong physique and you lead a healthy lifestyle, you can train and inspire others to do the same by becoming a personal trainer. 

You most likely go to a gym so that’s a great place to start forming connections and helping others on their fitness journey. 

You can do in-person or online training, organize in-home training sessions, and put together nutrition and meal plans for your clients. Sharing your progress and expertise on social media is another effective way to get clients.

Best small business ideas to be aware of 

Certainly, there are at least a dozen other small business ideas lists you can find on Google. None of them will give you the answers you’re looking for if you don’t know what you’re passionate about. A business idea is only as good as its execution. And for the execution to be good, there has to be determination and resourcefulness.