In this article, we will introduce you to the 20 best business ideas from Reddit. If you want to skip the detailed analysis, you can go directly to the following link: Best 5 Business Ideas According to Reddit.
interesting startups and entrepreneurs
Studying existing startups provides important insights for budding entrepreneurs. So let's read about some interesting startups and entrepreneurs. Also read our article on the best business ideas for solopreneurs.
Providing handyman services is a great business opportunity. According to a report from IBISWorld, there are over 416,000 handyman service businesses in the United States, with over 147,000 people employed as handymen as of 2023. Budding entrepreneurs can consider purchasing a franchise to start a handyman service business. Ace Handyman Services is a handyman service provider serving 367 areas in 23 states across the United States as of 2023. Every franchisee receives his 16-week plan for starting a new franchise. According to Franchise Direct, the minimum cash requirement to start a franchise is $75,000. Mr. Appliance is also an appliance repair franchise he founded in 1996. This franchise has over 300 locations across North America. The franchise fee is $53,125 and the initial investment ranges from $94,875 to $177,345. Franchise owners must have liquid capital worth $85,000 and net worth of at least $250,000.
According to Reddit, robotics is one of the best business ideas. Brett Adcock is a US-based entrepreneur. He is the founder and CEO of Figure AI, an AI robotics company. The 38-year-old has a net worth of $1.4 billion as of May 6, 2024. On February 29, CNBC reported that the startup's partnership with Jeff Bezos, NVIDIA Corporation (NASDAQ: NVDA), and Microsoft Corporation (NASDAQ: MSFT) for his OpenAI brings its valuation to his $2.6 billion. This startup was founded in 2022, and in less than a year the team was able to develop a humanoid robot. Also see the best robot stocks to buy now.
Starting a robot business can be difficult and expensive. However, as the Redditor suggests, robot design and simulation is an interesting avenue to explore. AutoCAD from Autodesk, Inc. (NASDAQ:ADSK) is the leading 2D and 3D computer-aided design (CAD) software. This software allows the designer to create his 2D geometry and 3D models using solid, surface and mesh objects. Using artificial intelligence, designers can automate tasks, compare drawings, publish layouts, and create schedules. Autodesk, Inc. (NASDAQ:ADSK) software includes comprehensive architecture, mechanical, map 3D, MEP, electrical, and plant 3D toolsets.
Dropshipping is another possible business idea for budding entrepreneurs. Irwin Dominguez is a dropshipper based in California, USA. He owns several e-commerce businesses in different fields. Before starting his e-commerce business, Dominguez worked as a marketing consultant helping small businesses collect his traffic online. According to Oberlo's report, this business owner made $1 million in sales in his 8 months from his dropshipping business. Dominguez began his e-commerce journey by creating a shop on Shopify Inc. (NYSE: SHOP) and adding dropshipping products. Also read our article about the largest dropshipping suppliers in the US.
Shopify Inc. (NYSE:SHOP) is one of the best platforms to create a drop shopping store. A budding entrepreneur can avail the services from the platform for free for 3 days and for his first month he costs $1. Dropshippers don't have to hold inventory, making dropshipping a lower-cost business venture. First, a business owner must plan his dropshipping business, conduct thorough market research, and select a dropshipping supplier. Once the complexities of setting up a business are completed, business owners can build an e-commerce store. Some of the trendy products we sell include DIY products, LED lights, auto parts, and electronics. Meghan Lewis, a dropshipper and Shopify Inc. (NYSE: SHOP) user, suggested that her e-commerce store's sales have increased 20 times over the past year.
What some Redditors are saying about the business
According to Redditors, freelancing is one of the best business ideas. According to a report from Upwork, in the United States in 2022 there will be 60 million people working as freelancers, accounting for almost 39% of the total workforce. These people have contributed more than $1.35 trillion to the US economy. Paul_caspian suggested in a thread on the r/freelance community that he spent about $2,500 on software, subscriptions, and web hosting to start a freelance business in 3D art. Another of his beyweenies, a Redditor, suggested that the total investment for software like Maya and Zbrush from Autodesk, Inc. (NASDAQ: ADSK) would be $600 a year. Other he Redditors like Jcrowe suggested using free software as a beginner.
Jacopo Grosso is a 3D artist and UI/UX designer from Italy who made over $1,200 in 3 months as a beginner on Fiverr. He also has a website to showcase his work and add credibility. Courtney A. is also a freelancer and is also known as her PowerPoint wizard on Upwork. She boasts her 100% job success rate, completing 1,444 jobs and contributing over 17,500 hours. She charges her $150 per hour to create PowerPoint presentations and sales materials.
Redditors think online tutoring is a great business idea, especially as a side hustle. -Rokk-, in a thread on the r/tutoring community, charges online tutors 30 pounds ($37.7) per hour, while his peers charge from 40 pounds ($50.3) per hour. I suggested it to be between 50 pounds ($62.9). To support Redditor Tutor's claims, let's take a look at Zhang Bangxin, a well-known name in the industry. Zhang Bangxin is the co-founder and chairman of TAL Education Group (NYSE: TAL), an education services provider listed on the New York Stock Exchange in 2010. Bangxin's net worth is $2.6 billion as of May 6, 2024. The billionaire started his career as a teacher, but later realized the need to integrate the internet and technology into education. The company offers a wide range of courses for children, adults, and professionals, from beginner to advanced levels, in in-person groups or online sessions.
Now that we've explored the current state of entrepreneurship, let's take a look at the 20 best business ideas from Reddit. Also see small business ideas for teens.
A successful entrepreneur holds a statement in his hand and looks into the camera with confidence and pride in the success of his company.
our methodology
Explore popular threads in large community groups like r/business, r/Business_Ideas, r/Entrepreneur, r/Entrepreneurship, r/Businessideas, and r/small+business+ to find the 20 best business ideas from Reddit. I did. idea. Next, we extracted business ideas that were commonly mentioned in multiple high-volume threads and added them to the list.
20 Best Business Ideas According to Reddit
20. MVP development
According to Reddit, MVP development, or minimum viable product development, is one of the best business ideas. Redditor infinitetime101 asked other users if he would pay $2,000 to $6,000 to develop a SaaS MVP. Most of the Redditors in this thread have said that they will invest because this is the best cost they can find. On average, MVP developers can earn between $20 and $100 per hour, or more than $1,500 for a project on Upwork.
19. Virtual assistance
Becoming a virtual assistant is also a great business opportunity for individuals. Rebecca Morassutti earned $144,000 last year, up from $65,000 in her first year as a veteran, according to Entrepreneur's report.
18. Robotics
Robotics is a huge, albeit costly, business opportunity. As mentioned above, Figure AI is a humanoid robot startup currently valued at $2.6 billion. The business recently received his $675 million in funding from investors including Jeff Bezos, NVIDIA Corporation (NASDAQ: NVDA), Microsoft Corporation (NASDAQ: MSFT), and OpenAI.
17. Anti-fraud technology
According to Reddit, developing anti-fraud technology is one of the best business ideas for budding entrepreneurs. Siginifyd is an e-commerce fraud prevention software provider. Software developers can develop similar technologies for specific areas.
16. Handyman service
As mentioned above, handyman services are one of the best business ideas according to Reddit. First of all, why not consider purchasing a franchise? Ace Handyman Service is one such example. According to Franchise Direct, the minimum cash requirement to start a franchise is $75,000.
15. Tourism
The tourism industry is growing rapidly and it is justified for individuals to set up a business for the industry. Reddit users suggest that while becoming a travel guide is an option, starting a tourism blog or newsletter could also be a lucrative business opportunity.
14. Sticker printing
Individuals can also consider sticker printing, especially since the investment cost is low. Individuals can also create stickers and sell them on Amazon. The Fashion Angels sticker set costs $4.99 on Amazon. Last month, more than 10,000 items were sold.
13.Rental business
Redditor Maydaybutton claims to run a booth rental business that generates $400,000 in gross revenue per year. Business owners are targeting wedding and event spaces. On January 19, 2024, a user posted an update stating that his business generated $448,549 in annual revenue over the past year. Business owners hire employees by the hour and have small teams across the state.
12. Printing
Printing is another big business opportunity for business owners. Individuals can create custom T-shirts and sell them on sites like Amazon. Personalized custom shirts for men are available for purchase on Amazon, with a customer star rating of 4.4 for him as of May 6, 2024. Last month he sold over 300 items.
11. Pet grooming
To start a pet grooming business, individuals may consider investing in a franchise. Woof Gang Bakery and Grooming is a pet grooming franchise. According to Franchise Direct, individuals need at least $75,000 in cash to purchase a franchise. More than 280 locations are open or in development across the United States.
10. Online tutoring
Online tutoring is also a business idea, according to Reddit. According to Glassdoor statistics, the average salary for an online tutor in the United States is $73,088 per year. Salaries will range between $50,000 and $88,000 per year.
9. Dropshipping
Dropshipping is a huge business opportunity. As mentioned above, dropshipper Irwin Dominguez owns multiple e-commerce businesses in different sectors. According to Oberlo's report, this business owner achieved his $1 million in sales in just 8 months.
8. Handmade crafts
Individuals can create handmade crafts and sell them on Etsy. DIY Solar Print Kit on Etsy costs $8.66 and has been reviewed by over 4,000 customers as of May 6, 2024.
7. Freelance
Freelancer is very popular on Reddit. According to Upwork data, the average annual salary for a freelancer in the US is $95,000. A freelancer's annual salary will be between $71,000 and her $133,000 per year.
6.Food truck
According to Reddit, starting a food truck is one of the best business ideas. First, individuals can purchase a food truck franchise. Kona Ice is a food truck franchise with over 1,000 trucks in 49 states. Franchise fees are $15,000.
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Disclosure: None. 20 Best Business Ideas According to Reddit Originally published on Insider Monkey.
