The Top 10 Most Successful (Online) Businesses to Start in 2024
Are you tired of online business ideas that fizzle out before they even get started? Well, you’re in luck because I have a guide the top 10 most successful businesses to start in 2024 — And I’m not just pulling these out of thin air!
These recommendations are backed by statistical evidence from sources like the US Bureau of Labor Statistics, giving you real data on average income and projected growth rates. I’m talking about businesses that thrive in growing industries, boast stable client bases, and rake in impressive revenues.
What’s even better? These online ventures don’t require a physical location or a warehouse full of products. So, buckle up, because we’re about to delve into the best online business opportunities that are primed for success.
Let’s begin.
Table of Contents
Digital Marketing Agency
Business Summary:
A digital marketing agency is a powerhouse in the online world, specializing in crafting winning digital strategies for businesses. Their diverse expertise includes everything from digital development and PPC advertising to SEO services, social media marketing, analytics, reporting, and online reputation management.
As businesses increasingly rely on their digital presence, a top-notch digital marketing agency becomes the secret weapon for expanding their audience and driving additional revenue.
Industry Outlook from US Bureau of Labor Statistics:
Position your company now to take advantage of the expected growth.
Digital marketing continues its rapid expansion, making it a top contender for the most successful online businesses to start in 2024. The US market boasts an above-average growth rate, and businesses are turning to digital marketers to navigate the digital landscape effectively.
With an average income of $133,380 per year and 33,700 jobs projected to be added over the next decade, digital marketers who carve out their niche are rewarded handsomely for their expertise. The soaring demand for online marketing services and the substantial income potential position digital marketing agencies as key players in the online business arena.
- The average income for Digital Marketers: $133,380 per year
- Growth Rate Over The Next Decade: 10%
- Current Number of Jobs: 347,000
- Jobs Added Over Next Decade: 33,700
Copywriting Services
Business Summary:
Copywriting services have emerged as a cornerstone in modern marketing strategies, revolutionizing email campaigns, social media promotions, and web content.
With the power to engage, persuade, and convert customers, copywriting plays a vital role in crafting compelling messages that resonate with the audience and drive sales.
As businesses increasingly recognize the importance of captivating content, copywriting services have become a highly sought-after commodity.
Industry Outlook from US Bureau of Labor Statistics:
Copywriting services may not boast the highest growth rate in the industry, but their stability and consistent demand make them a top contender among the most successful online businesses to start in 2024.
With an average income of $69,510 per year and an anticipated addition of 5,900 jobs over the next decade, copywriting remains a lucrative profession for those with the gift of words.
Almost all product companies require the expertise of skilled copywriters, ensuring a vast client pool and a steady stream of opportunities for those who excel in this writing profession.
- The average income for Copywriting Services: $69,510 per year
- Growth Rate Over The Next Decade: 4%
- Current Number of Jobs: 142,800
- Jobs Added Over Next Decade: 5,900
Virtual Assistant Services
Business Summary:
Virtual Assistant (VA) services have emerged as a game-changer in the modern workforce, providing a wide range of essential administrative support remotely.
From managing schedules and email correspondence to conducting research and coordinating projects, VAs streamline operations for businesses and entrepreneurs alike. Their adaptability and versatility make them an indispensable asset for any industry.
Industry Outlook from US Bureau of Labor Statistics:
As traditional secretary and admin support roles transition to the digital landscape, the demand for virtual assistants has skyrocketed. The low barrier to entry into the virtual assistant market, coupled with the consistent need for administrative support across all industries, positions this online business as one of the top 10 most successful to start in 2024.
While specific figures may vary, forecasts see a decline of -8% for traditional secretaries and administrative assistants over the next decade. But this does pose the question: Is it because employers are delegating these roles to remote VAs?
I truly believe this is the case. This is why VA services made it to our list of lucrative opportunities for aspiring entrepreneurs.
- Average income for Secretaries and Administrative Assistants: $39,680 per year
- Growth Rate Over The Next Decade: -8%
- Current Number of Jobs: 3,413,600
- Jobs Added Over Next Decade: -286,900
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Online Consulting
Business Summary:
Online consulting services present an enticing opportunity for entrepreneurs with specialties in various fields.
Whether it’s management, marketing, finance, or any other industry, offering online consulting allows you to leverage your in-depth knowledge to help companies improve their processes and boost revenue.
Your hard-earned skills and expertise can help determine the best niche for your online consulting business, and by offering valuable insights and strategies, companies are willing to pay big for tangible returns.
Industry Outlook from US Bureau of Labor Statistics:
The management consulting industry specifically is positioned for significant success in 2024 and beyond. With a projected growth rate of 11% over the next decade and an average income of $93,000 per year for management analysts, this sector promises lucrative returns.
The demand for expert advice and problem-solving is on the rise, and as businesses seek innovative solutions to stay competitive, online consultants are in high demand.
As an online consultant, you rest easy knowing that this growing market remains as one of the most successful small business ideas for 2024.
- The average income for Management Analysts: $93,000 per year
- Growth Rate Over The Next Decade: 11%
- Current Number of Jobs: 950,600
- Jobs Added Over Next Decade: 108,400
Health and Wellness Coaching
Business Summary:
Health and wellness coaching services have emerged as one of the top online businesses to start in 2024, offering lucrative opportunities for both diet and fitness-oriented wellness services.
Diet-related businesses may require more education, but they often pay higher incomes. On the other hand, fitness services may not be as lucrative initially, but they are experiencing explosive growth rates of up to 19%.
Entrepreneurs can leverage their passion for health and well-being to create impactful coaching services and cater to a broad and growing market.
Industry Outlook from US Bureau of Labor Statistics:
The health and wellness coaching industry is set for substantial success in the coming years. With a projected growth rate ranging from 7% to an impressive 19%, and average incomes ranging from $40,700 to $61,650 per year, this sector offers promising prospects.
As people increasingly prioritize their health and seek personalized guidance to achieve their wellness goals, the demand for health and wellness coaching services continues to rise.
Entrepreneurs venturing into this field can tap into a growing market, make a positive impact on clients’ lives, and build a thriving online coaching business in the process.
- Average income for Wellness Workers: $40,700 – $61,650 per year
- Growth Rate Over The Next Decade: 7-19%
- Current Number of Jobs: 950,600
- Jobs Added Over Next Decade: 108,400
E-Commerce Store
Business Summary:
E-commerce stores have secured a spot as one of the top 10 most successful online businesses in 2024 due to their ability to operate without physical product handling.
Through drop shipping or white labeling, entrepreneurs can leverage existing suppliers to fulfill orders, eliminating the need for inventory management or shipping hassles.
This streamlined approach allows entrepreneurs to focus on marketing, customer experience, and brand building, making it an attractive option for those seeking a lucrative online venture.
Industry Outlook:
The shift towards digital shopping has accelerated in recent years, particularly post the COVID-19 pandemic, as more brick-and-mortar stores close their doors.
Consumers increasingly prefer the convenience and variety offered by e-commerce platforms, driving exponential growth in the online retail sector and, in turn, making it one of the most successful business ideas since 2020.
With a vast market potential and increasing consumer trust in online shopping, e-commerce stores present a golden opportunity for aspiring entrepreneurs to capitalize on the digital marketplace and build a thriving online business.
- Average Income for E-Commerce Stores: Less than $1 million per year
- Projected Value Growth Over The Next Decade: $925.40 billion in 2023
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Social Media Management
Business Summary:
Social media managers are thriving in the job market due to the ever-increasing demand for online presence and engagement.
As businesses recognize the power of social media in reaching their target audience, social media managers play a crucial role in creating and executing effective strategies to build brand awareness, drive traffic, and foster customer relationships.
Their expertise in navigating various social platforms and understanding consumer behavior makes them valuable assets for businesses looking to stay competitive in the digital landscape.
Industry Outlook from US Bureau of Labor Statistics:
The statistics clearly support the success of social media management services, with an average income of $56,770 per year and a substantial number of job opportunities, currently standing at 218,910 positions.
As social media continues to dominate the marketing landscape, the need for skilled social media specialists will only grow.
By harnessing the power of social media to drive business objectives, online entrepreneurs can seize the booming market and carve a prosperous path in the digital world.
- Average Income for Social Media Specialists: $56,770 per year
- Current Number of Jobs: 218,910
Technical Writing Services
Business Summary:
Technical writers are doing great thanks to the rising demand for clear and concise communication in various industries.
Technical writers play a vital role in translating complex information into user-friendly content, creating manuals, guides, and documentation that enhance product usability and efficiency.
With businesses and organizations recognizing the value of effective communication, technical writers will remain as sought-after professionals, enjoying a thriving career in the digital landscape for years to come.
Industry Outlook from the US Bureau of Labor Statistics:
With an impressive average income of $78,060 per year and a steady growth rate of 6% over the next decade, those looking to capitalize on this market are guaranteed to see high ROIs.
With 55,400 current jobs and an estimated 3,100 jobs to be added in the same period, the technical writing field promises a stable and lucrative business opportunity for aspiring entrepreneurs.
- Average income for Technical Writers: $78,060 per year
- Growth Rate Over The Next Decade: 6%
- Current Number of Jobs: 55,400
- Jobs Added Over Next Decade: 3,100
Graphic Design
Business Summary:
In a visually-driven digital landscape, businesses and individuals alike recognize the significance of impactful design elements.
Graphic designers play a crucial role in creating eye-catching visuals, branding materials, marketing assets, and website designs, elevating the overall appeal and effectiveness of online content.
Industry Outlook from the US Bureau of Labor Statistics:
With an average income of $50,710 per year and a steady growth rate of 3% over the next decade, it’s no surprise why graphic design services made it on the list.
With 265,000 current jobs and 6,800 jobs to be added in the coming years, the demand for graphic designers remains strong.
As businesses increasingly prioritize the power of visual communication to engage their audience, graphic designers are well-positioned to thrive and make a significant impact, making it a top choice for online business ventures in 2024.
- Average Income for Graphic Designers: $50,710 per year
- Growth Rate Over The Next Decade: 3%
- Current Number of Jobs: 265,000
- Jobs Added Over Next Decade: 6,800
Selling Online Courses
Business Summary:
With the world embracing digital learning, individuals and organizations recognize the value of accessible, self-paced, and skill-enhancing online courses.
Online course creators can leverage their expertise to provide valuable educational content to a global audience, while businesses can tap into the lucrative e-learning market to boost revenue and brand recognition.
Industry Outlook:
The statistics paint a compelling picture for the success of online course creation services. With an average income ranging from $86,938 to $98,500 per year, course creators have the potential for high earnings.
The projected value growth of the e-learning market, estimated to reach $325 billion by 2025, highlights the immense opportunity for growth.
The substantial increase in online learning enrollments since 2020, along with the predicted growth in online professional development courses (80% by 2025) and the K-12 online school market (valued at $93 billion by 2025), further solidify online course creation as one of the most prosperous online businesses to pursue in 2024.
- Average Income for Online Course Creator: $86,938-$98,500 per year
- Projected Value Growth Over The Next Decade: $325 billion by 2025
- Increase in Online Learning Enrollments Since 2020: 20% increase since 2019
- Predicted Increase in Online Professional Course Enrollments: 80% by 2025
- Predicted Value Growth in Online K-12 School Market: $93 billion by 2025
There are so many ways to build and grow a thriving business in 2024. Now, all you need to do is get started!
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Host of Netflix’s “How To Get Rich” NYT Bestselling Author, & Host of the I Will Teach You To Be Rich Podcast. I’ll show you how to take control of your money with my proven strategies so you can live your RICH LIFE.
Ramit Sethi
Host of Netflix’s “How To Get Rich” NYT Bestselling Author, & Host of the I Will Teach You To Be Rich Podcast. I’ll show you how to take control of your money with my proven strategies so you can live your RICH LIFE.
