Do you want to be a founder of a successful startup? Do you need million dollar business ideas for starting a company in 2021?
There are tons of people who are hunting on how to start a business. But they are confused about picking the right one for them. Most of them pull themselves back because of wrong assumptions. They think starting a new business requires an investment of thousands and thousands of bucks.
But, let me tell you, this is a completely false assumption. Yes, you heard it right! You can start it with small profitable business ideas, where investment is less, but revenue is high.
This blog is all about how to start your own business. And, the different business ideas that you can put into place today to become your own boss and to live that entrepreneur life.
Here are 20 Small yet A Million Dollar Business Ideas
Let’s get started with Online small business ideas-
Online Business Ideas
Dropshipping is a trending small business idea that can support you in earning a good sort of money with no investment. If you are dreaming to sell products online but have limited resources, then you can consider dropshipping.
This business model has inspired a lot of entrepreneurs to start with it because it is easily manageable. Dropshipping gives you the opportunity to quickly test different business ideas with limited downside. So you can easily choose in-demand products and sell in the market.
2. Online Tutor
Due to the digital transformation, the demand for an online tutor is increasing steadily. The online tutoring business is replacing the traditional form of tuition. There is always someone out there who is ready to pay for the online courses.
Because of this COVID-19 outbreak, there are approx 1.7 billion students who are enrolling themselves for online courses. It is said, in the coming time by 2023; online tutor business could generate USD 7.37 billion.
If you think you have a solid hold on a particular subject or you’re interested in something, tutoring is the next million dollar business idea for you. You can make a lot of money if you really like kids and make them learn something.
Math teachers are in high demand because kids struggle in math. If you’re good in a language, you could offer tutoring services for a particular language.
Although, if you’re good at chemistry or biology, you can charge a nice amount of money for an hour. If you’re in a town that has a university or a school, put posters up and advertise your tutoring services.
3. Affiliate Marketing
Affiliate Marketing is an easy business model that can generate good source income at less investment. Here you will get the commissions on just promoting products of other people. Amazon is the most popular and most used affiliate marketing platforms. However, there are other platforms too that offer the same service. So create your account on these platforms and start earning instantly.
4. Acknowledge your existing skills and do freelance.
From building a website to an app to a graphic designer or content writer, you can start working as a freelancer. These home based business ideas are in high demand right now. With any of the technical skillset, start working on the project.
Use a platform like Upwork, Fiverr to start a freelance business. If you believe in your skills, freelance jobs are a tremendous way to build a successful business.
Whatever your skills, such platforms have various categories like software development, personal trainer, fashion designer, videographer, interior designer, dietician and much more. If you have a skill, you can surely provide a service to someone who is actually looking for those skills. Utilising your own skills and putting it together is a million dollar idea for business.
Also, it is one of the most profitable businesses to start because it cost nothing to start. It requires only one thing that is your time. So you can make a precisely good amount of profit, just use a platform like Upwork or going out pitching clients.
5. Create and sell your own products online
These are the most straightforward business ideas that you can go forward. You can create anything and sell it online like- ebooks, courses, beauty products, clothing, graphic design, logos and so on.
Don’t copy anybody else’s ideas. But you can definitely research to look for some inspiration, then think of new business ideas for yourself.
6. Social media management
Another business idea that is literally in high demand is social media marketing. Nowadays, it’s really important for businesses to be online on Facebook, Instagram, and YouTube.
If you have a business that is not online, it is easy to fall behind because you don’t have that free engagement and free advertising. But there are a lot of people that still don’t know how to work on social media?
There is a lot of analytics to understand and a lot of stuff like content creation that people just don’t really know. So if you’re really good at social media managing and creating content for Instagram and YouTube.
You can take on your own client’s, and if you like social media, it’s really awesome. Because you get to do something that you love and paid for posting on Social Media.
Food Services & Hospitality Business Ideas
7. Catering Business
Nowadays, the catering business has a great scope for profitable earnings. For this, all you need is cooking skills, determination, and grace to present your dish. If you enjoy cooking then you can turn your passion into a home-based catering business. You can start this million dollar business idea with a small investment. Take orders of the small gatherings and parties in our early stage. After some days when your business is set, you can go for the big parties.
8. Event Planning
According to research, it has found, the event planning industry will continue to raise revenue. Event planning is another incredible business idea. Throwing big parties like weddings requires a lot of work, and that’s why people don’t like to do it themselves.
They like to hire somebody to do that for a job. So if you’re somebody who really likes all of that organisation and planning events. You should definitely go for event planning, especially weddings.
Because we all know, weddings are something that holds lots of responsibility. It is really stressful for a single person to handle all stuff together. So, people don’t want to spoil their special day; they just want to enjoy the day. That is why wedding planners are always in high demand.
9. Owning a baking business
Owning a baking business and making custom cakes is certainly a great business idea. You can sell your cupcakes and cakes in the market.
There are so many people who love baking. If you are among the same, you can make your passion a business.
Start baking and taking custom orders so people would call you if they had an event coming up. You can make different sweets for them like cookies, brownies, cakes etc. With this, you can start earning a good amount of money on it.
Most importantly, this business gives you the ability to work from home. So if baking is something that you love, try designing your own custom cake business.
10. Start a hotel business
One of the common areas of hospitality is a hotel.is. Individuals consistently look for a place when they are away from home. So, starting a hotel business is a great approach to earn wealth. Adding breakfast to your contributions may assist you with getting incessant support since it is on record that individuals lean toward lodgings that offer dinners than ones that don’t.
This business is capital escalated, so you need to get ready for it. You can similarly avoid the problems of building a major lodging. Simply start with a small and manageable area to stay.
11. Become a tour guide
If you think, you are a local area expert, then you can become a tour guide. This business is more profitable when you live at the place where tourist frequently visits. You can earn money simply guiding the tourist about the culture, history and contemporary heritage.
Personal Services Business Ideas
12. Coaching business
People make so much money when it comes to coaching. Having your own coaching business can really create massive incomes for some people. So these are like special events.
In a coaching business, you’re totally in control of your own schedule. Here, you can select clients’ of your own choice. You can work from anywhere in the world by doing Skype calls or calls over the phone.
Coaching is just a really great way to connect with other people in other people to go for their dreams and their goals and give advice if that’s something that you like to do.
So there are different coaching programs online. If you are actually helping people, then coaching is a really easy and a million dollar business idea to start for you.
13. Professional organizer
Nowadays, people are hiring somebody to come into their house and organize the whole thing. If you’re somebody who’s a neat freak and really loves to organise, this business idea is perfect for you.
The organisers usually charge a daily rate of coming into somebody’s house. Their job is just to teach them different tips on how to organize their space.
Everybody is talking about organising. Lately, I think it’s really great to start an organising business because you might have a lot of clients.
14. Open a daycare or childcare centre
If you love kids, you could open up a daycare or a childcare centre. Here for this business idea, you need to have a license to run your own daycare.
Suppose you find yourself attached to kids and find childhood development an easy task. Open your own daycare centre where you can spend time with kids, and side-by earn extra income turning it into a million dollar business idea.
Here, you have to spend time with your kids and do something that you love. There are people out there that have turned their homes into daycares.
For this, you don’t need to capture a particular space. You can easily allow kids into your residences during the day. Most likely, when those kids’ parents are at work. So it’s really good because you can work from your own home.
This is you get the freedom to stay at home with your kids and also take care of your clients’ kids.
15. Cleaning business
Cleaning Business is a really great way to make some extra money. Do know some people charge like 15 thousand a month to clean. And you can make more money if you are living in a big city.
The demand is high in the big city because people are so busy in their office work. They merely forget to spend time cleaning their space. So that’s where you can jump in, do some cleaning for a certain price and then make some money.
16. Dry-Cleaning Pickup & Delivery
The demand for dry-cleaning pickup services is high in the big city. You can try on this small business idea to earn extra income. As people are living a busy life, sometimes they forget to reach out their local dry cleaner. So, if you provide pickup and drop-off of clean clothes to client resident. They definitely find it convenient and follow your service.
Healthcare Business Idea
17. Medical courier service
Medical courier service is an easy business to start. People who have their vehicle can start this business with less investment. In this, you may deliver equipment, lab specimens, prescription drugs, documents or even organs.
18. Develop a healthcare App
Developing a holistic healthcare mobile app could be your next million dollar business idea. The mobility solutions in the healthcare market give you a great opportunity to earn money. The demand for mHealth apps is increasing day-by-day. Most of the pharmaceutical giants or small doctors clinics, all are adopting mHealth apps for various medical processes.
19. Start a Website Carrying Health Information
If you are searching for how to start my own business and gain massive profits. You can start building a high-performance healthcare website. With the growing curiosity of living a healthy life, individuals are looking out for quick tips to stay healthy. People are also curious to know which medicine they can use for which disease. So, you can create a website that contains such content. You can deliver content in various form such as blogs, infographics, videos, tutorials, etc.
20. Nutritional or dietary business
With the increasing number of diseases, people are becoming more nutritious freaks. Most of the people are looking up at a nutrition clinic to keep themselves healthy.
Nutritionists have a significant task to carry out, regardless of whether it is in weight reduction or infection prevention. A nutritionist or dietician encourages people to oversee their intake of food. They help them understand the impacts of various foods on their health. So getting into the nutritional or dietary business can give you massive income.
I hope this list of business ideas resembles and benefits you. You can start a business, but put some efforts and creativity to make it a million dollar business idea. You need to trust yourself to generate value. Although, I talk about such business ideas that you can start really with fewer bucks.