5 Most Profitable Online Businesses To Start In 2024

In this article, we will take a look at the 5 most profitable online businesses to start in 2024. If you want to read our detailed analysis, you can go directly to 30 Most Profitable Online Businesses To Start In 2024.

5. Freelancing Services

Number of Mentions: 5

Industry Net Margins (2022): 4.32%

Providing freelancing services is one of the most profitable online businesses to start in 2024. As a business owner, you can start offering freelance services in technical skills such as software development, cybersecurity, data analysis, and financial modeling, or you can go for creative domains such as content creation, video editing, and UI/UX designing. You can also consider starting a company that hires and places people providing freelance services.

4. Dropshipping

Number of Mentions: 5

Industry Net Margins (2022): 4.91%

According to our methodology, starting a dropshipping business is one of the most profitable online businesses in 2024. Dropshipping is a form of e-commerce business, where business owners do not have to hold inventory, implying cost savings for business owners. Some of the most popular products to sell include apparel, beauty products, home appliances, phone accessories, and office equipment, to name a few.

3. Social Media Management & Consultancy

Number of Mentions: 6

Average Industry Net Margins (2022): 4.83%

Opening a social media management and consultancy firm is one of the most profitable online businesses to start in 2024. With the growing popularity of social commerce platforms, social media companies may leverage the opportunity to provide customized e-commerce and marketing solutions. As per our understanding, social media management and consultancy falls under the business and consumer services and advertising industry. Therefore, we took the average of the two industries and have it displayed above.

2. Web Development Services

Number of Mentions: 6

Industry Net Margins (2022): 11.17%

Web development services are in demand services by all kinds of businesses. Starting an online web development services business is one of the best online businesses to start in 2024. Developers with tech skills may also provide their services on a freelance basis. The software industry had an industry net margin of 11.17%.

1. App Development Services

Number of Mentions: 6

Industry Net Margins (2022): 11.17%

According to our methodology, starting an app development business is one of the most profitable online businesses to start in 2024. Setting up a business with freelance app developers may cut costs. The software industry had an industry net margin of 11.17% in 2022.

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