Best Online Business Ideas to Invest in 2024 [And, How to Launch One]

Quick Summary: Are you still running your business offline? Or are you an entrepreneur willing to enter the online business industry to gain better profits? What business should you invest in? Here is the list of the top online business ideas you consider for your startup and small business. Read through to discover how you can build one for your brand or startup.

Running your business online is what your brand needs nowadays. An offline shop is just not enough in a market where the target audience looks for fast and reliable product delivery. As per a report by First Site Guide, nearly 70% of small and medium-sized brands invest more in their digital presence.

The importance of having an online presence cannot be overstated. According to recent stats, 71% of small businesses have their own website to attract clients.

Are you a keen entrepreneur wanting to invest in an online store but have no idea where to begin?

The first step towards it is to think of an idea that provides accurate solutions to the customers. But there are so many businesses that you start online; how do you figure out the best for you?

We have listed top online businesses that you can invest in 2024. Check it out and discover you can start your own online business with simple steps.

Top Online Business Ideas to Invest in 2024

Here is the list of the best online businesses to start without investing too much money. 

1. Food and Grocery Delivery

Food and grocery delivery apps are one of the most profitable business ideas to invest in. The on-demand food delivery app industry is projected to reach $165 billion by 2029. On the other hand, the revenue for the grocery delivery app industry is expected to reach US$1,140.00bn by 2027.

Investing in food and grocery delivery apps is a great idea for several reasons:

• Customers can get their desired food or grocery deliveries directly to their doorsteps.
• Food and grocery delivery cater to the growing demand for on-demand services.
• These apps provide various offers and discounts, giving a better experience.
• Users can order their favorite food or grocery without moving out of their houses.

Building a food delivery app for your business can help connect local service providers with customers. With success stories like Uber Eats, Instacart, Zomato, and DoorDash already in the market, it’s clear that investing in food delivery app development can be a wise choice for businesses looking to increase their reach and improve customer satisfaction.

Want to build a grocery delivery app and provide robust and quick services to your customers? Check our blog: How To Start An Online Grocery Delivery Business From Scratch?

2. Restaurant Booking App

As discussed above, the food delivery industry is multiplying. One such is a Tinder-like restaurant booking app. When a group of friends decides to go out to dine, they often face problems in determining the commonplace to eat.

Therefore, a Tinder-like restaurant booking app allows the users to create a group and swipe right or left based on their dietary preferences. Once one restaurant matches, the place is selected. This process ensures that the entire group likes the place. The members can repeat the process if they are unsatisfied with the chosen place.

3. On Demand Handyman Services

Another online business idea with little investment is the on-demand handyman app. Did you know the handyman service market is projected to reach USD 1.8 billion by 2033, indicating its huge growth?

Whether you are already into handyman services or are a startup, taking these services online through an app can help boost revenue.

As the demand for on-demand home services grows, handyman app development can be a smart move for your brand. Creating an app with features like real-time tracking, digital payments, nearby handyman search, and hassle-free booking can offer your customers a convenient and reliable solution for their home repair needs.

This can improve customer satisfaction, help your brand stand out, and drive growth. People opt for handyman apps as they don’t have much time to find professionals like plumbers, electricians, movers, and carpenters. Your app can connect users with nearby handyman professionals for quick service.

4. Taxi Booking Platfom

Taxi booking apps like Uber, BlaBla, and DiDi have resolved the pain points of their target audience by providing just the services they need. For example, they allow their users to book a specific type of ride based on their preferences and budget.

People will always need to travel from one place to another to go to work or for personal reasons. Hence, there will always be a need for improved taxi services. As of 2023, there are over 300 million people worldwide who use taxi apps.

Looking to Create Your Own Taxi Booking App? We Can Help!

If you’re inspired by the success stories in the online taxi booking industry and want to launch your own platform, our expert team can help you. We specialize in clone and customized on demand taxi booking app development services with all the necessary features and a user-friendly interface. 

With over 12+ years of experience, we have gained a deep understanding of the taxi service industry. From real-time tracking to secure payments, we ensure that your app not only meets but exceeds industry standards. 

Ready to revolutionize the taxi service industry? Contact us today and let’s turn your vision into a reality!

5. Beauty and Salon Services Platform

If you are a interested in the beauty service industry, starting an on demand beauty services platform is a perfect idea for your online business startup. These apps not only allow users to book services at their convenience but also provide an option to buy beauty products online from their favorite stores. 

There are several reasons why investing in the online beauty industry is a wise decision, such as; 

• The fact that the beauty industry generates about $100 billion in revenue worldwide. 
• By 2030, the men’s personal care market is expected to reach $276.9 billion.
• And, skincare alone is estimated to generate up to $177 billion by 2025.

Don’t miss out on the opportunity to be a part of an industry projected to generate billions in revenue. Contact us today and let’s bring your online beauty venture to life.

The top players in the online beauty industry are adopting new technology and methods to expand their products and web services. This startup idea is also beneficial for both those who provide beauty services or want to build a platform to connect the audience with nearby salons.

6. Health and Fitness Platform

People have become very conscious of their health. From counting the daily calorie intake to tracking water consumption, recording physical activity, and more, the target audience wants all the data on one single app.

Popular fitness apps like MyFitnessPal, FitBit, and Nike have proven that maintaining and tracking health can be easy and hassle-free. The popularity of these apps has increased so much that its user penetration is expected to hit 12.21% by 2027 from 9.76% in 2023.

You can build a fitness app that provides a single service or various health and fitness services, health tracking options, and more. Further, you can enhance these services by embedding features like live sessions, personal coaching, online health products, and personal fitness sessions.

Build your fitness app in 7 steps. How?💡Check our blog: 7 Steps To Create A Health and Fitness App: A Complete Guide.

7. Drop Shipping

There’s no doubt that drop shipping is among the best online business opportunities. After all, there is no need for a warehouse to keep up with inventory to run your business. It’s an excellent way to kickstart a business on a budget. 

In simpler terms, dropshipping is a business model that lets you buy products directly from a manufacturer and ship them directly to your customers.

Dropshipping business opportunities are never-ending. Also, according to the Ministry of Commerce & Industry, the e-commerce market was valued at USD 38.5 billion in 2017 and is predicted to reach USD 200.0 billion by 2026, at a CAGR of 51%. Importantly, it eliminates the risk of finding out that there’s no market for your product after placing a bulk order with the manufacturer. 

8. eCommerce and M-commerce

Businesses should engage in M-commerce and eCommerce because they provide a wealth of options to expand their consumer base, boost revenues, and improve the purchasing experience in general. By 2026, 24% of all retail purchases are expected to occur online. You can access worldwide markets by using eCommerce to contact customers who are located elsewhere than where they are physically located.

On the other hand, M-commerce uses the accessibility and pervasiveness of mobile devices to help businesses reach the expanding mobile user population. Mobile commerce boomed in 2020 and is expected to increase by 2026. The US alone is projected to have over 187 million active mobile shoppers by 2024. 

You can provide clients with a seamless and personalized shopping experience with M-commerce, offer many products, simplify purchasing, and use data-driven insights to optimize their marketing campaigns and spur growth.

Ready to Build Your Own eCommerce App? Let Our eCommerce App Development 👉 Guide Lead the Way!

9. Logistics Platform

In 2022, the logistics automation market size had crossed USD 50 billion, which is expected to grow at 12% CAGR from 2023 to 2032. The potential for streamlined and affordable supply chain management is why startups should invest in logistics platforms. 

These platforms let businesses effectively handle inventory, distribution, and order fulfillment, which not only improves customer satisfaction but also helps them scale their operations and successfully compete in the fast-paced, fiercely competitive business world of today.

Organizations at all levels look out for platforms that can help them streamline their business operations. Hence, investing in logistic platforms and building just the right solutions will ensure that your startup gets a boost.

Looking for a cost-effective and high-quality logistics app? Choose ValueAppz! Our expert team provides tailored solutions to meet your specific needs. For more information, schedule a free consultation today.

10. Create a Social Media Platform Like TikTok

Who doesn’t like social media? As per the reports, there were over 4.95 billion social media users globally in October 2023. One such popular and highly engaging app is TikTok. Developing an app like TikTok can ensure that your brand engages the right audience who enjoy sharing short and entertaining videos.

The stats show that the average time spent on TikTok was the highest compared to other platforms.

Source: InfluencerMarketingHub

A few reasons for its popularity include viral trends, creative outlets, algorithm-driven feed, global community, and easy accessibility. So, as a startup, you can make a similar app with all the necessary features that attract users.

11. Employment Platform

What company doesn’t want an easy hiring process? With the changing world, the hiring process has shifted online. From online interviews to assignments, companies are looking for better and easier methods to hire employees.

In such a scenario, your employment platform can be a great help. Building a platform that has all the needed features like application tracking, job search, candidate availability, etc., will attract clients quickly, providing them with the perfect solution and giving your brand the boost that it needs.

12. Accommodation Platform like Airbnb

Online accommodation platforms are another popular app to invest in. We have all heard about Airbnb. Did you know that Airbnb has over 7 million active listings and over 150 million users?

Source: RubyHome

Building an accommodation platform like Airbnb will help your startup attract the target audience that looks for local, cheap, and reliable stays during their trips. Further, the demand in the travel industry is growing rapidly, providing a golden opportunity for entrepreneurs to invest in it.

13. Cannabis Delivery App

The cannabis delivery industry is expected to reach $30 billion by 2025. The growing legal cannabis market and its related growth potential make investment in this app startup an attractive choice. The need for discreet and easy access to cannabis products is growing as more and more areas continue to legalize the drug. 

In addition to meeting this demand, a well-designed cannabis delivery app may manage industry regulatory challenges, provide technological innovation, and establish a successful business model based on delivery fees and joint ventures with nearby shops. 

Startups can put themselves at the forefront of an industry with enormous potential for growth and revenue generation by embracing this developing area.

14. Astrology App

Everyone is worried about their personal life, career, and future. People want instant answers and remedies. In order to reach a broader and more varied audience and make astrology more convenient and approachable for people looking for advice and insights, astrologers can consider investing in an astrological app. They can provide individualized horoscopes, birth chart readings, and astrological guidance to a global clientele by utilizing technology. 

Further, as a startup, you can also build an app that brings astrologers and users together on one platform. It will provide a space for people to connect with the right professionals to get answers. 

These apps can also give an astrologer a platform to interact with clients, sell subscription services, and provide real-time updates, expanding their clientele and income possibilities in addition to catering to the burgeoning astrological interest of the digital age. Hence giving your startup good growth.

👉 Ready to offer personalized astrological insights to a global audience? ValueAppz, a leading on demand app development company, specializes in creating customized solutions. Our user-friendly and seamless apps enable businesses to succeed in the digital world. Contact us today to transform your astrology app idea into a reality!

How to Start Your Online Business?

Once you have decided upon the online business you want to invest in, you’ll have to plan to bring it to life. Below are the steps to start your online business.

1. Conduct Market Research to Validate Your Idea

You may have a great online business idea, but if it does not have a market, it won’t work. So, the first step is to conduct thorough market research to understand the idea, its target audience, and their demands. These will further help you plan and develop the business better.

2. Create the Business Plan

Once you have done complete market research, it’s time to work on the business plan. Outline your business goals, strategies, and financial projections. The planning must also include what services you will provide and its USPs.

3. Develop Your Product

Now that you have planned your business, you must develop the product. For this, you can hire the right professionals. For example, ValueAppz is a leading on-demand delivery app development company that helps clients launch their apps quickly, built with the latest technology.

4. Connect With Vendors and Suppliers

Whatever industry you choose, you will need to connect with several vendors and suppliers to run your services. For instance, if you are building a food delivery app, you must register restaurants, cafes, and other eatery outlets so that users can connect. Same way, to develop your eCommerce platform, you must connect with local suppliers.

5. Market Your Online Business

Once you have developed your online business, you must build a strong marketing strategy to reach your target market. It can be done through marketing techniques like social media marketing, content marketing, SEO, and so on to catch your customers’ attention.

👉 Are you planning to develop an on-demand delivery app for your business? Must check our comprehensive guide for better planning: A Complete Guide On Building Your On-Demand Delivery App.

Examples of Top Online Businesses

Let’s take a look at the top online businesses that have gained enormous success and a broader target audience by providing excellent services through their on-demand apps in their respective industries. 

1. Uber

Uber is the leading on-demand taxi booking app. Launched in 2009, the brand has over 130 million monthly users. One of the primary reasons for its success is that Uber provides several ride-booking options like Uber X, Uber XL, Uber Black, and many more. Further, it has enhanced its services with the latest technology and includes essential features to the app.

💡 Want to build an app like Uber? Read the blog to know the development cost for it. How Much Does It Cost to Develop an App Like Uber? A Quick Guide

2. Careem

Careem is a super app in the Middle East, headquartered in Dubai. The brand began by providing on-demand taxi services and slowly expanded to food, grocery, and online payments. Its taxi services are spread across 12 countries, with over 50 million customers registered on the platform.

3. Instacart

Instacart is a leading on-demand grocery delivery app. Based in California, USA, the brand allows its users to conveniently shop from various grocery stores. With over 500 million products and 40,000 stores registered on its app, Instacart generated a revenue of $2.5 billion in 2022. The platform also provides contactless services to ensure its customer’s safety. 

👉 Want to build an app like Instacart? Read our blog on Cost of Developing a Grocery Delivery App Like InstaCart.

4. EatSure

EatSure is one of the best examples of online food delivery apps. It is an Indian-based company that brings together restaurants and customers on one platform. The platform focuses on quality and customer convenience. As per the reports, EatSure generated a revenue of ₹859 crore (US$110 million) in the financial year 2022.

Convert Your Digital Business Idea to Reality

So, are you ready to invest in your online business? ValueAppz is a leading on-demand delivery app development company that can help you build a scalable and robust app. Whether you want to invest in food, grocery, handyman, beauty, taxi, or eCommerce industry, our services are built for all. 

We design apps with the latest technology to ensure they provide a complete solution to their users and an exceptional experience. Get your app developed at a price that fits your budget and meets the brand’s goals.

Contact us now to discuss the idea.

Key Takeaways

• It is essential for offline businesses to have an online presence in this digital age. Over 70% of small companies invest digitally, and 71% have websites.
• Before you invest in an online business, explore various profitable ventures like food, grocery, taxi, handyman, beauty, etc.
• Bringing digital business ideas to reality requires precise planning and strategy based on the company’s goals and targets.
• Follow a roadmap and research, business plan, product development, vendor connections, and strong marketing.
• Investing in on-demand delivery apps is one of the most profitable business ideas for startups and small businesses.

Frequently Asked Questions

Q1. Which business will be profitable in 2023?

Some of the most profitable businesses 2023 are home services, real estate, virtual assistance, eCommerce, and food and delivery apps.

Q2. What kind of business can I start at home in 2023?

In 2023, some businesses that you can start at home include eCommerce stores, digital marketing, on-demand delivery apps, and drop shipping businesses.

Q3. How can I grow my online business in 2023?

To grow your online business in 2023, you must focus on building a solid online presence via strategic marketing, optimizing websites, and providing exceptional customer services.

Q4. What business can I invest in 2023?

As of 2023, some businesses you can invest in and gain a better ROI include a food delivery app, grocery delivery app, handyman services app, eCommerce store, and on-demand taxi app.

Q5. Is it possible to start an online business with limited technical skills?

Yes, it is possible. A number of online platforms and tools provide user-friendly interfaces and resources to help create and manage online businesses. Further, hiring the right company can help build an online business with limited technical expertise.