13 New Business Ideas to Start and Earn Money in 2024

Are you an entrepreneur itching to turn your passion into profit? Look no further!

The year 2024 brings a landscape brimming with opportunity for budding entrepreneurs.

And with the right idea and execution, you can turn your dream business into reality.

From cutting-edge technology to emerging social trends, here are 13 new business ideas to start and earn money in 2024 that align with current market needs and future projections.

13 New Business Ideas to Start in 2024

1- Start a Sustainable Fashion Brand

The fashion industry is one of the largest polluters in the world, but there is a growing movement towards sustainable fashion.

Sustainable fashion is about creating clothes that are made in a way that is environmentally friendly and socially responsible.

This includes using organic materials, reducing water and energy use, and ensuring that workers are paid fair wages.

The global sustainable fashion market is expected to reach $10.1 billion by 2025 . This is a significant increase from $6.5 billion in 2023.

Source: TheRoundUp.org

Gen Z is leading the way in the demand for sustainable fashion.

A study by Rubicon found that 9% of Gen Z consider sustainability when buying clothes, compared to just 2% of the general population.

With careful planning and execution, you can start a successful sustainable fashion brand that makes a positive impact on the world.

2- AI-Powered Personal Assistants

The market for AI-powered personal assistants is experiencing explosive growth.

The global market for intelligent personal assistants is expected to reach a staggering $83.66 billion by 2030, with a compound annual growth rate (CAGR) of 34.13%.

Source: The Business Dive

This indicates a significant boom in the coming years.

AI assistants can significantly impact businesses, streamlining tasks and boosting productivity.

For instance, AI assistants can handle scheduling meetings, setting reminders, and managing emails, freeing up valuable time for human employees.

The market is broad.

Identify a specific need (e.g., healthcare, finance) and tailor your AI assistant’s capabilities accordingly.

By staying informed about the latest trends and tailoring your solution to a specific need, you can create a successful business in this exciting domain.

3- Remote Workspaces & Collaboration Tools

Develop tools or platforms that enhance remote work productivity and team collaboration, such as virtual office spaces, project management tools, or interactive whiteboards.

The global remote workspace and collaboration tool market was valued at around $14.6 billion in 2023. [Source: credible market research report].

Experts predict it to grow at a significant compound annual growth rate (CAGR) exceeding 12% by 2030.

By understanding this growing market, you can leverage the power of remote workspaces and collaboration tools to build a more efficient, productive, and geographically distributed workforce.

4- Biodegradable Packaging Solutions

Biodegradable packaging is made from natural materials like plant starches, cellulose, and wood pulp.

These materials break down naturally over time, without leaving behind harmful microplastics or toxins.

This includes materials such as:

• Plant-based materials: These materials are made from renewable resources such as corn starch, sugarcane, and cellulose.
• Polylactic acid (PLA): PLA is a bioplastic made from corn starch.
• Biodegradable polymers: These are man-made polymers that can be broken down by microorganisms.

Consumers are increasingly demanding sustainable products, and businesses are taking notice.

The global market for sustainable packaging is expected to reach $737.6 billion by 2030.

[Sustainable Packaging Statistics: Why Eco-Friendly Packaging Matters – Meyers Printing].

This presents a huge opportunity for you to start a business and provide innovative and effective biodegradable packaging solutions.

5- Electric Vehicle (EV) Charging Infrastructure

The EV charging infrastructure business in the USA is primed for growth, with the rising popularity of electric vehicles creating a demand for convenient and reliable charging options.

The electric vehicle market is rapidly expanding.

Reports suggest that electric vehicles might outsell gasoline-powered cars by 2030 [source: Boston Consulting Group].

This translates to a growing demand for charging infrastructure, making it a prime time to enter the EV charging business.

You can choose between various business models, including:

• Public charging stations: Setting up charging stations at convenient locations like malls, gas stations, or parking lots. You can earn revenue through charging fees or partnerships with businesses.
• Private charging solutions: Catering to workplaces, apartment complexes, or individual homeowners who want EV charging options on their property.
• Mobile charging: Providing on-demand charging services for stranded EVs or areas with limited charging options.

6- Virtual Reality (VR) Training Programs

The VR training market is on the upswing, and this is the right time to start a VR training program business.

Businesses are recognizing the advantages of VR training, like improved knowledge retention, practicing skills in a safe environment, and increased engagement.

VR training can be used in various fields, including healthcare, manufacturing, construction, and soft skills development.

Identify specific industries or niches that can benefit from VR training. For example, safety training in manufacturing or soft skills training in customer service.

7- Services for Digital Nomads

The digital nomad trend is booming, with millions working remotely and traveling the world. This creates a demand for services that cater to their specific needs.

Offer services for digital nomads such as co-living spaces, travel planning, or a digital platform connecting nomads with workspaces and communities.

Focus on a specific pain point for digital nomads (e.g., solopreneurs, families, specific professions).

Network with travel agencies, co-working spaces, and other businesses that serve digital nomads.

You can use online tools and platforms to manage your business remotely and cater to a global clientele.

8- Home Fitness Equipment & Services

Increased health awareness, busy lifestyles, and the convenience of working out at home are some of the key factors driving the growth of home fitness equipment & services business market.

The home fitness equipment market size was valued at USD 4.81 billion in 2022 and is projected to grow at a CAGR of 7.59% to reach USD 8.50 billion by 2030.

Source: Fortune Business Insights

A wide variety of equipment is popular for home gyms, including cardio equipment (treadmills, exercise bikes, elliptical trainers), strength training equipment (free weights, weight benches, resistance bands), and yoga mats and Pilates reformers.

You can design and sell smart home fitness equipment or offer virtual fitness classes tailored to home settings.

9- Green Construction and Renovation

The green construction and renovation industry is on the rise, driven by factors like growing environmental awareness and government incentives.

Provide services in eco-friendly construction and home renovation, focusing on energy efficiency, sustainable materials, and smart home technology.

Specialize in a particular green service like energy-efficient remodels, water conservation installations, or using recycled materials.

Focus on using recycled, reclaimed, and locally sourced materials whenever possible.

Research and sell eco-friendly alternatives for traditional building materials like bamboo flooring, low-VOC paints, and energy-efficient appliances.

10- 3D Printing Services

The 3D printing industry is experiencing significant growth, presenting exciting opportunities for businesses offering 3D printing services.

You can offer 3D printing services for custom manufacturing, prototyping, or consumer products.

3D printing is used for various applications, including:

• Prototyping and pre-series manufacturing.
• Creating functional parts and manufacturing tools.
• Producing finished consumer goods.
• Medical applications like customized implants and prosthetics.
• Aerospace and automotive industries for complex, lightweight parts.

11- Renewable Energy Solutions

Increasing awareness of climate change is pushing for cleaner energy sources.

Solar and wind energy are becoming increasingly cost-competitive with fossil fuels.

You can provide renewable energy solutions such as solar panel installation, wind energy systems, or energy storage solutions.

By understanding the market dynamics, opportunities, and challenges, you can make informed decisions about starting or investing in a renewable energy business.

12- Urban Farming

Urban farming is the practice of cultivating, processing, and distributing food in or near urban environments. It’s a rapidly growing trend that offers a number of benefits, including:

• Increased access to fresh, local food
• Reduced food waste
• Improved air and water quality
• Creation of green spaces in cities
• Increased community engagement

Urban farms can take many forms, including: Rooftop gardens, Vertical farms (indoor, stacked growing systems), Hydroponic and aquaponic systems (soilless cultivation), Community gardens and Backyard garden.

Focus on specific crops or target a particular customer base (e.g., restaurants, schools).

Consider selling through CSAs (Community Supported Agriculture) or farmers markets to build customer relationships.

13- Pet Concierge Services

A pet concierge service caters to busy pet owners by offering a variety of services that go beyond basic pet sitting.

It’s essentially a one-stop shop for all your pet’s needs, providing peace of mind and convenience for you.

You can offer services like Dog Walking & Pet Sitting, Vet & Grooming Appointments, Medication Management, Pet Taxi, Travel Assistance and Home Care.

Additional Services (depending on the business):

• Pet Training & Behavior Consultation
• Pet Chef Services: Preparing fresh, healthy meals for your pet
• Waste Removal Services
• Live Video Check-Ins: Providing peace of mind by allowing you to check in on your pet remotely

Let’s Wrap

Starting a business involves tapping into current trends and addressing emerging needs.

Whether focusing on sustainability, technology, or personalized services, these 13 new business ideas offer viable paths for entrepreneurial success in the evolving market.

Evaluate your skills, resources, and interests to choose a business that aligns with both market demand and your vision.