Top 5 Ideas to Launch New Startups Business in 2024 – how to make money on the side

Let me start with a quote. “Every once in awhile, a new technology, an old problem, and a big idea turn into an innovation”.

Yes, as the quote means this article may provide you knowledge about some new technology(if you have never heard of), an idea to solve an old problem which may be your new innovation(venture is what I mean). Best startup ideas are the ones that solve customers’ pain point. Before starting a business everyone must understand the customer needs and then have to fulfill them. This way none gets a failure in the business.

There can be many good ideas for 2024. I want to suggest five ideas which I have seen in past few years.

Custom Drone Builder – New Startup Business idea

Owning a Drone Business at this time is a great opportunity which is just waiting to be explored and exploited by the entrepreneurs. For opportunistic business people, drones business have multiple uses and can be utilized in a vast variety of ways.

It is essential to check local regulations on the commercial use of unmanned aerial vehicles (UAVs) before getting into a drone-related business. Few countries already have assigned strict regulations that limit the use of drones.

Few Mentions of Uses Of Drones:

• Aerial Photography
• Commercial Inspection Services
• Fast Food Delivery
• Residential Home Inspections
• Software Programming/ Applications
• Undercover work

It is clear after a teenager won $250,000 by piloting his drone to victory on Dubai’s World Drone Prix, this new sport will be huge in future. In short, the field of drones is growing much faster and there are many possibilities for businesses. And because professional drone racers need professional custom-built drones, now is the perfect time to establish your name as a custom drone builder.

Advantages

• Better for the Environment
• Physical Access to Hard to Reach Places
• Business Growth
• Positive Economic Impact

Potential: High-Value                Investment: High              Business Type: Online/Offline.

Artificial Intelligence / Machine Learning – New Startup Business idea

As in Wikipedia “Artificial intelligence (AI) is the intelligence exhibited by machines or software. It is also the name of the academic field of study which studies how to create computers and computer software that is capable of intelligent behavior.”

Many science fiction writers and Hollywood directors have imagined and portrayed the potential of artificial intelligence in many movies. The world of business is finally getting serious about the innovative potential of AI.

AI Applications may range from high-skill tasks such as recognizing cancer in x-ray images to lower-skill tasks such as recognizing text in images. Most likely, the AI tools and technologies applied to solve real-world problems can range from machine learning, big data, analytics to use of intricate algorithms and computing techniques.

As Forbes stated that “AI early adopters invest heavily in analytics expertise and ensuring the quality of algorithms and data can scale across their enterprise-wide information and knowledge needs. The leading companies who excel at using AI to plan new businesses and streamline existing processes all have solid senior management support for each AI initiative”.

Many industry professionals refer Artificial intelligence technologies as “Augmented Intelligence,” stressing the technology’s role as assisting and expanding the productivity of people rather than replacing humans.

Advantages

• Save time and money by automating processes
• Increase productivity and operational efficiencies
• Achieve cost savings, by optimizing your business, your workforce or your products
• Increase revenue by identifying and maximizing sales opportunities
• Grow expertise by enabling analysis and offering intelligent advice and support

Potential: High-Value                        Investment: High       Business Type: Online.

SAAS, Cloud, Internet of Things (IoT) Business – New Startup Business idea

These days, smart phones and tablets are the most favored device for users. Be it customers, business associates, stakeholders, or employees. Smartphone’s are currently assuming control time spent on PCs/desktops and laptops. At the origin of the mobile revolution, the procedure was tied in with having effective mobile sites. Be that as it may, even at the beginning times numerous organizations found that individuals find the native app experience as all the more captivating and engaging compared to the mobile app.

With around 6 billion mobile subscribers over the globe, app stores are ceaselessly experiencing the period of development. The quickly growing Internet of Things (IoT) industry goes for flawlessly interfacing different devices to the Internet. This change in perspective towards the Internet of Things and Mobile applications is opening up various roads for organizations to interface with its target audience and getting services from leading mobile app development companies all around the world.

The talk of today is mobile, cloud, Internet of Things (IoT) and more. As per Statista, as of “November 2017, there were about 2.8 million applications in Google Play alone, 200 thousand more than in December of the previous year. The Apple Store, then again, had gone from 800 applications the long stretch of its dispatch in July 2008 to 2.2 million in August 2017.” It abandons saying that App Stores will be relied upon to take care of the demand for the number, quality, and scope of applications that their clients require.

Advantages

• Enterprise Apps Improve Business Processes and Increase Worker Productivity.
• Gives more value to the customers
• Taking Brand Value to the Next Level

Potential: High-Value              Investment: High/Low        Business Type: Online.

EV Charging Station Providers – New Startup Business idea

Electric vehicles are the future of transportation and electric vehicle charging stations are the foundation of this revolution. In the event that you own a very frequented property, you should think about installing a charger and offering it to EV drivers for a little expense.

There are presently more than 500,000 electric vehicles (EVs) out and about in the United States, and soon there will be over a million – and 3 million around the world. EVs are ending up increasingly well known, as the enormous automobile producers are on the whole, at last, getting on board and putting resources into this innovation. Consumers will soon have a plenty of decisions with regards to EVs. Even Plug-ins have increased mass awareness, European EV sales are rocketing, and the business is blasting.

There is gigantic potential to offer EV charging services. In any case, it is vital to risk from investment, construct a sound business case, keep your working costs low, and guarantee you benefit from EV charging.

What are the opportunities? What’s your part of the electric future? Let’s look at some winning EV charging business models that might be right for you:

• Vacationer goals ordinarily contend with convenience, administrations, exercises, and openness. With poor accessibility, guest numbers decline, and organizations endure.
• EV infrastructure is becoming vital, and it’s a business opportunity for towns, cities, and attractions that rely on highway access for visitors.
• The needs of self-drivers are changing as more vehicle owners switch to electric vehicles.
• By 2020, the tourist destinations with the best EV charging infrastructure will be the most accessible.

This model is essential for organizations and businesses that need to boost income from peak seasonal traffic. This is an extraordinary fit for mid-sized towns that are popular tourist destinations. Areas with high footfall can likewise profit by included esteem charging station solutions with, for instance, advertising displays may bring in additional sources of income.

Advantage

• Contribute to an Improvement in Air Quality
• Gain Tax Advantages
• Make a Statement to Employees about Company Values
• Attract and Retain High-Quality Employees
• Potential to partner with local tourism, cultural, sports and environmental bodies.

Potential: High-Value                        Investment: High                   Business Type: Offline.

Organic Food Restaurants – New Startup Business idea

Interest in natural organic foods has been skyrocketing for more than a decade, and the industry has delighted 20%+ revenue development every year. Despite the recession of ’09, organic foods have continued to develop, yet somewhat more gradually. Two trends combine to make an organic food restaurants a solid bet for aspiring business visionaries. One is how people are busy.  The other is interest in chemical-free food which is more nutritious than any food.  Neither one of the trends is probably going to do anything but grow.

Many individuals need to buy and eat more beneficial, natural, healthier, organic, products, however for some reason like too busy, don’t know what to buy, can’t get to the grocery store they don’t. Organic food restaurants administrations help understand this issue. Some deliver a pack of veggies consistently or each other week, direct from the farm.

There are no formal education or training requirements for running an Organic food restaurant. The capacity to organize customers’ needs with the accessible natural produce you can discover for them (and there is a considerable measure of approaches to approach this) is the main genuine trick to the business, albeit knowing the intricate details of the organic food industry is an enormous in addition to. Associating with neighborhood organics makers can likewise make this a suitable business, as having the capacity to remove the middleman places you in a solid position to get the best deals for your customers.

Potential: High-Value             Investment: High                      Business Type: Online/Offline.

Check this Guide to Setting Up a Company in the Philippines

Final Words

So, That’s it. Let me conclude with another quote.

“Ideas are easy. It’s the execution of ideas that really separates the sheep from the goats”.

So the most important part is execution, which requires time and endurance. Whatever the idea you have it’s the execution part which makes you sure to reach the success.

The good startup idea is those which solves the problem of the public or brings something new for the user. In the coming year, I guess these would be the source of startup and it is predicted that the number of businesses will increase a lot by 2023.

So any ideas around structuring unorganized data, giving helpful insights and making educated guesses can be a good idea for startups.

Good luck in 2024! Be sure to make this your year!

Protect your business by registering as an LLC

A good startup idea is those which solve the problem of the public or brings something new for the user.  It’s important to find good partners like Poplify.com for support. Poplify helps companies build World Class software, Quickly and Cost-Effectively with the Top 5% local and offshore talent. In the coming year, I guess these would be the source of startup and it is predicted that the number of businesses will increase a lot by 2023.