Everyone is looking for the next great idea for a business that will make a billion dollars or the next winner. One of the best places to look is at how the industry is growing, since new businesses tend to take off in areas that are growing quickly.
Some businesses that are growing quickly are recycling, solar energy, 3D printing, IV hydration, staple delivery, specials, and subscription boxes. Just remember that hard work and commitment will likely be the keys to success, not daydreaming about making your first billion.
Check out our list of billion-dollar business ideas to get you thinking.
Everyone is looking for the next great idea for a business that will make a billion dollars or the next winner. One of the best places to look is at how the industry is growing, since new businesses tend to take off in areas that are growing quickly.
Some businesses that are growing quickly are recycling, solar energy, 3D printing, IV hydration, staple delivery, specials, and subscription boxes. Just remember that hard work and commitment will likely be the keys to success, not daydreaming about making your first billion.
Check out our list of billion-dollar business ideas to get you thinking.
1. Film Production Firm
Do you enjoy movies? By starting your own movie business, you can tell people what kinds of movies they should watch. Even though theaters closed at the start of the pandemic, the US film business is still a big market with lots of room for growth. In 2020, the industry made a total of almost $92 billion. It is expected to grow by at least 4% every year until 2025.
You’ll need a lot of money to get the basic equipment, build a creative team, make material, and pay the creation process. Before you can start making things, your group needs to travel, scout for places, and pick out the cast. Working with movie houses and online services to get your movie out is a good idea. It’s hard to start a business that makes movies. Keep in mind that Warner Bros., Paramount, and other big names in the business will be fighting with you. If you want your film production company to be successful and bring in people, you’ll need to offer something new and different.
2. Plastic Reusing
If you are looking for a new business idea, you might want to think about starting a plastic recycling business. By lowering the amount of trash that doesn’t break down in landfills, you can save the earth and make money. By 2021, the US market for recycled plastic is expected to reach $3 billion. Every year, a lot of plastic trash is made, but less than 10% of it is reused. This is a huge opportunity for your business that reuses plastic.
Look at what other businesses that recycle plastic are doing and choose an area before you start your own. Most businesses refill PET bottles and cases, and filtered water makers are the biggest users of recycled plastic. Others are recycling Low-Density Polyethylene (LDPE), which is used to make things like trash cans, furniture, floors, and wall panels. It’s also important to follow local rules and find out what your state’s requirements are for recycling plastic. Your business will be very important for reducing plastic trash and stopping more environmental disasters.
3. Health Care
Plan to start a health care business? You’re doing fine. The main reason why the number of people who need health care services is going up is because the US population is getting older. By 2030, there are expected to be more than 60 million American adults who are 65 or older. This means health care will cost more money. You might wonder what subsegments are doing well. The fastest earnings rise is in medtech and health care information technology (IT).
So what are you waiting for? Now is the time to start a business in the health care field. The first step is to find an area that you can focus on. Make sure you have all the required permits and licenses before you start a medical practice, a home health care business, or anything else. You will also need to decide on a value offering that sets you apart from your competitors and makes it easier to sell your business.
4. Trading Stocks
If you’ve worked with shares before, you might want to start your own stock dealing business. After a year that was hard to predict because of the Covid outbreak, the financial exchange is expected to make small profits in 2022 and keep doing so for a long time. By 2030, it is expected that over 40,000 sales workers for stocks, commodities, and financial services will be hired each year.
The first steps in starting a stock dealing business are to get a license and join a stock market. You can start small and trade from home. To get customers or investors, it’s important to make a business plan and think of ways to be different from other stock exchange offices. It’s a good idea to have a diversified portfolio, study the market, keep an eye on business and other changes that might affect the securities exchange, and prepare for wild swings that could lead to losses.
5. EV Charging Stations
If you want to be an entrepreneur with a plan for the future, you might want to start a business selling charging points for electric vehicles (EVs). It’s a smart guess that the market for EV charging points will grow a lot in the coming years as more automakers come out with their own electric car models. By 2030, it is expected that there will be 4 million electric vehicles in California, where most of the state’s more than 110,000 charging points are located. Electric cars are also sold in other places.
Not sure where to start? You can start small by adding a few power ports. You can gradually grow your business by adding more sites and stations. If the US has a network of charging sites, EVs will be more useful. Before you open your charging station, make sure you follow the rules and laws of your state. You also need to look around you and see what other charging sites are selling. You can easily get customers if you can give faster charge times and better batteries.
6. Business of Manufacturing
Even though a lot of production has moved overseas in the last few decades, it is still a $8 billion business in the United States that has grown steadily in recent years. Creating businesses can be very profitable, but they also take a lot of planning and hard work.
First, you need to pick what you want to make. Do some market research to find out which things are selling well and where there might be a gap in the market. You should look for goods that are easy to make and don’t cost much to make, or that have a big price and make you a lot of money. Then, you’ll have to rent or buy an office for building, preferably in a faraway place to save money. Before you can start making your goods, you’ll need to get all the licenses and permits you need and have them tested and approved.
At last, you’ll be ready to send out a marketing effort that, with a little bit of luck, should start getting requests and put you back in the dark.
7. Computer game Organization
Nearly 230 million Americans of all ages play video games, and most of them say they’ll probably keep playing even if rules are made to make them friendlier. If you want to make a new video game, you can take advantage of the fast-growing, over $95 billion video game business. Who can say? Start a video game business right away because your new game could become more famous than Minecraft, Fortnite, or League of Legends.
If you’re planning the game, you’ll need to work with a content writer and a visual artist. It’s important to put together your team first and talk about your game’s features, characters, and story arcs. Even though you can run this business from home, you’ll still need to sign up for it and make sure it’s real. It’s important to apply for a license after you’ve finished and tested your game. Just make sure it’s not like any other games. Starting a video game business is not easy, but if your game is famous, you will make money.
8. Management of Waste
If you use the right tools and technologies, you can make money from trash and help the world at the same time. By 2030, the market for managing trash is expected to be worth more than $700 billion. Most of the garbage in the world is made in North America, especially the US, which is also where many of the world’s largest waste management companies are based. If you want to make money from trash in your area, you might want to think about starting a waste handling company.
First, choose a niche market. It is possible to deal with solid garbage from companies, hazardous waste from industries, or both. You’ll have to follow writing rules, authorization requirements, and security needs. It is also important to set up collection spots, transfer sites, material recovery centers, and other places to manage garbage. Starting a business to deal with trash can be very profitable if you are ready for the difficulties and have a plan.
9. Real Estate Investment
Even though the outbreak destroyed a lot of industries, it also caused a record-breaking boom in the real estate market as millions of people tried to find a safe long-term home or get out of crowded cities. This led to a $500 billion industry. After hitting record highs in 2021, the strong US real estate market has stayed the same in 2022. So, now is a great time to take part in the boom, help people find the home of their dreams, and make a good living at the same time.
A piece of real estate is one of the best purchases because its value will almost certainly go up over time. If you want to get into the real estate business, it may not be as hard as you think. If you want to work as an agent or broker, you will need to study and get a real estate license. But you don’t need a license or training if you’re more interested in investing and maybe property management. Needed are a lot of money and a good sense of value.
You could start by looking at the local market. When you see one or two homes for sale at prices lower than the market average, it could be a chance. But be sure to take care of business before you jump in and start a land trading business.
10. Idea for a subscription box business
Who doesn’t enjoy getting mail? Because of this, subscription box services that send niche items like organic veggies or handmade clothes on a regular basis have grown so quickly. This is the reason why Amazon has grown so fast. About $57 million was made in the youth membership confine business 10 years ago. It is worth almost $20 billion right now, and its rapid growth is expected to continue until 2027.
You could start your own subscription box business and send great things to customers who want them. This would give you a piece of this growing market. You could offer a wide range of goods, such as food and drinks, grooming, exercise, clothing, books, pet supplies, and other things, and let customers choose their own deliveries. Or, you could focus on one product, like New Britain sticks and jams, and put a surprise gift in each shipping box.
To get started, look at the market for monthly boxes, see what’s working, and keep an eye out for a need. Once you find a good provider, you’ll be well on your way to being successful with subscriptions.
11. Live Sweep Fingerprinting
On police shows on TV, thieves’ fingerprints are actually taken with dark ink. But computer scanning is now used for most fingerprints in the real world. In the coming years, the live scan fingerprinting market is expected to grow very quickly because more people want to use more advanced ways to identify themselves and more people are worried about security.
Start your own scanning business right now, get in early, and ride the wave to real success. But there are a few problems to solve. The first steps to becoming qualified in fingerprint rolling are to study the guide for your state, get your fingerprints taken, and send your application to the Department of Justice. Once that’s done, just sign up with your local police department and you’ll be ready to start offering portable unique mark screening services all over town.
12. Cybersecurity company
Cyber security is one of the biggest problems with digital change. Because of this, more people are looking for cyber security experts. By 2022, the US digital security market is expected to be worth close to $60 billion. By 2026, the market is projected to grow by a huge 125% and be worth more than $150 billion worldwide.
If you know how to do “white hat” hacking, starting a digital security company could be a great way to make a living. White caps, or moral writers, always win against digital attacks. Besides ethical hacking, it’s a good idea to learn about cloud security, blockchain security, Internet of Things security, and artificial intelligence. Also, you will have an edge if you can talk to people well.
Before you can send off your business, you’ll need to get the right approvals. You must also make sure that your business follows the law. With the right training and the most up-to-date tools to protect information and computer systems, you can definitely be successful in this area.
13. Money Transfer Service
As globalization has grown, so has the market for sending money abroad. This gives money transfer companies more chances to make money. Now is a good time to start a business that sends people money. The settlement market around the world came back quickly and moved almost $600 billion out of 2021. How much cross-line trades, such as computerized payments, are expected to grow as more countries recover from the effects of a pandemic.
Before you start a cash transfer business, you should get the basic licenses and permits and focus on what you can do. Pay attention to the fact that traditional transfers, which require sending and getting cash at a bank or money transfer agent, are being replaced quickly by digital or online payments. Digital money transfers are done through websites or apps. These are easy to use and take up less time. Before you even think about going digital, you need a website or app. Most importantly, you’ll have to keep your system safe and make sure that customers’ money moves are safe. There will be a lot of problems, but there are still ways for you to change this business.
14. Rental via Airbnb
If you’ve ever stayed in an Airbnb, you know how simple it can be. It’s like having a short-term home. Because of this, Airbnb has helped the homestay part of the hotel and housing business grow quickly in the past few years. Renting out your home as an Airbnb is a simple and flexible way to make money, whether you just want a little extra cash or want to start a business.
The first step is to make sure that your house or flat can be rented out for short amounts of time. There are rules in many places that either limit Airbnb renters or limit them to a certain number of nearby units. If your site passes that test and is in a tourist-friendly area, you are already halfway there. If your home or apartment doesn’t meet one of these requirements, you might want to look into buying a home or loft in an interesting location that you could then turn into a popular Airbnb.
No matter what approach you choose, the most important thing is to give your people great service. If you can become a Superhost, you’ll be well on your way to being successful on Airbnb.
15. Development of Apps
Have you ever thought about how often you use your phone’s apps? Apps are one of the businesses growing the fastest in the world because people probably use them many times a day. By 2026, the global app market is projected to have grown by nearly 40% and be worth more than $465 billion. If you have some technical skills, you could start your own app business and ride the growth to great success.
But getting there won’t be as easy as just picking up the phone. You’ll need a good idea for your first app. Assuming you already have that, you’ll need to fill out the form and write the code, then have the app checked out and backed by major app stores like Apple and Google. The real work starts when you have to convince smartphone owners that your app is more useful and interesting than the millions of other apps that are also trying to get their attention.
This may seem like the easy part, but many business owners make the same mistake. Even the most creative apps need a well-thought-out marketing plan to be successful. Any fool can make an app. The most important thing is to get people to use it.
16. Financial Company
Starting a financial business can be hard, but it can also be profitable. The first step in starting this business is to come up with a long-term, field-tested plan that outlines your business’s direction, goals, and processes. It should say what kinds of financial services you want to offer, like individual accounting advice, investment management, financial planning, or banking services. At this point, you need to do market study to learn about your possible customers, competitors, and the economy. Also, you’ll need to figure out where the money for your business will come from. It could come from your own savings, investors, or a business credit.
Due to the nature of the services they offer, the rules for banking businesses are very strict. So, based on how big your business is, you will need to get the right licenses and follow the rules for the financial industry. Get ready for strict reporting standards, audits, and reviews of compliance. It’s also important to put money into a skilled and trustworthy staff and new technology to help your business run. You can lay the groundwork for a great financial organization by giving good service, following ethical business practices, and always getting more customers.