Future businesses are more about rising trends and opportunities which are controversial today. The good thing about these future business ideas is that you face minimum competition. Very few entrepreneurs have the courage to venture into something totally new, obviously. But these entrepreneurs often also end up creating history. Here is a sneak peek into the list of future business ideas that you can start in 2024:
- Virtual influencer marketing agencies
- On-demand health & wellness
- Subscription boxes
- Newsletter & podcast marketing
- Animal care & training
- Video based eCommerce
- Smart home products
- Autonomous cars
- The feeling economy based startups
and do not miss these 2 bonus ideas from the blockchain and augmented reality industries.
Challenge with future business ideas
And the challenge of starting a trending future business idea is that you have limited resources. Limited resources, in the sense, zero support in terms of advice or effective consultation. Not just that, it is also tough to find the right talent. And short supply of talent means almost no help while you sail through the tough business waters.
What makes future business ideas controversial?
Controversial in the sense that some people believe there is actually value in the trend. While others believe that it is just a fad. Examples of these trends could be blockchain technology, influencer economy, and the flexi office.
Additionally, you can add temporary workforce and gig culture’s effectiveness to the trend as well. And yes, how can we not include space tourism and driverless cars to the list? Anyway, in this blog, we share with you a list of 11+ future business ideas that you can start in 2024.
By the way, I’ve not discussed online business ideas here, as there is a dedicated blog for that on GrowthRomeo. And just for a heads up, I’ve also shared a list of business ideas with 277 opportunities for you. Do check that too, once you’re done exploring future business ideas.
Future business ideas list 2024 to conquer the world
Future business ideas
Among the 11+ future business ideas that we share, some are completely digital businesses. These would need negligible to low investments. But these can deliver high profits in return, for sure.
Also, some of the offline/online future business ideas included in this list are a bit investment intensive. Those ideas will need Crores of money in initial investments. In short, we have tried to make this list a diverse one. And included future business ideas in a way that everyone can find a suitable opportunity.
Let’s begin the list of future business ideas which you can launch with low to medium investments. If you’re on hunt for only low investment business ideas then read our dedicated blog for the same.
1. Virtual influencer marketing agencies -wheels of all the future business ideas!
virtual influencer
Digital media has given birth to a lot of people who are digital creators or thought leaders with followers in millions. In the digital economy, we call such individuals as Influencers. Because their one post, one line at times can start a revolution, bring a change, or make a overnight success story. All this is possible because these influencers have followership which is not limited to a geography or language. Many influencers in India and the USA have more followers than the population of several small countries. These followers are spread all over the world.
Is influencer marketing a good future business idea?
Brands are cashing on this opportunity to promote their products and services. Influencers charge based on the impact they create on the business, or they charge based on per post/engagement basis – irrespective of how they affect the business.
You must be thinking, ‘where is the business opportunity here? It’s a deal between the influencer and the businesses. What am I supposed to do here? How am I gonna help the influencers and/or the brands and earn good profits?’. Where is the future business idea that I am looking for?
Well there is definitely a potential future business idea here. Sharing that in a moment. By the way, if marketing interests you, then you must checkout our blog on marketing business ideas.
Why influencer marketing agencies are needed?
It’s not all as smooth as it sounds. Talents can’t manage everything on their own. Sports celebrities, movie stars, political leaders, and digital influencers need agencies that bring them new clients, negotiate deals, and look after the finances and legal matters too.
Influencers and celebrities are not employees that a business can manage directly and efficiently. Of-course, it is possible in the ideal case but in the real world there are a lot of problems and conflicts. That’s where you come in. You work with these influencers to bring them new clients, endorsements and projects from businesses and organisations. You give them the direction to grow their popularity and influence. And this is what’s called a talent management agency business.
Why virtual though?
But in the 21st century, talent management needs to go virtual – at least partially. Because, sitting in Delhi – you might be cracking and managing deals for an influencer in the remote village of Odisha who is required to work with a FMCG enterprise based out of Kerala. So, it’s not easy to establish a smooth coordination and communication medium between brands and influencers. That’s where influencer management agencies step in.
Investment, profitability, scope
Hope you got the idea. You can try this future business idea with absolute zero investment. The profitability could be very high though. You can work on a commission model where you may charge 10% of the deals from both influencer and the business.
As the ticket size here may vary from a few lakhs to a few crores – the scope of running this business profitably is way too good. The only thing that would decide how big this business grows is your ability to network with businesses as well as influencers.
So, in short, if you are good at socializing and working with people, start a small scale virtual influencer marketing business agency in 2024 in India.
Check more small business ideas on GrowthRomeo.
2. On demand health and wellness
Last few years have been an eye-opener for all of us across the world in terms of where we are headed as a society, country and human breed itself. One virus became a threat for everyone in the world. When we were forced to stay indoors, when we were not supposed to step-out, when public transportation was disrupted and when businesses were not working as they do normally – life became challenging. It became way too challenging for people who needed normal medical services, who stayed in remote villages and areas with low density of medical practitioners.
Why would we need a robust tele healthcare services in the future?
Imagine what would have been the condition of guys who stay alone and need emergency medical services.
Scary, right?
This situation accelerated the growth of an industry which was growing real slow before the pandemic: Tele-healthcare services. This is our second future business idea on this list. Today, you can start an on demand health and wellness app to deliver remote healthcare services. You can add different healthcare verticals and then bring relevant medical practitioners who are qualified, verified and authorised care givers.
How to drive revenue from this future business idea?
You can charge customers based on either membership charges, or you can charge doctors for the clients you bring to them.
Before you read the next future business idea, did you get a chance to explore our collection of best business ideas in India 2024?
3. Subscription boxes
Subscription box
Daily groceries, regular medicines, daily newspapers, daily newsletters, weekly or monthly toys and magazines for kids, fashion apparel stitching fabrics, beverage boxes, Mystery and treasure chests, etcetera are some of the popular subscription box business ideas in India and USA. Subscription boxes are one of the easiest future business ideas on this list. People are supporting subscription business ideas. Newspapers and milk are an age-old subscription box business model which is thriving even in the digital age.
An example of subscription box business future business idea
Now, more and more innovative subscription box businesses are coming up. You too can start this future business idea in India or USA or Australia. My personal favorite business here is edtech related subscription boxes where you send DIY kits for kids and help them learn mathematical and scientific concepts. For more details on subscription box businesses, get in touch with me.
We have a not to miss collection of unique business ideas waiting for you!
4. Newsletter & podcasts
podcast & newsletters
Blogs were a sensation back in 2008, and it was not easy to set up blogs back then. Later, youtube was a sensation in the 2010s. Now, fast forward to today. We have multiple things taking off today in the content industry. Specifically, newsletter, podcasts, and tik-tok style apps are the top sensations in 2024.
Tik-Tok is the #1 big thing to watch in 2024. Meta can also be a watchworthy change. We’ll see what they are upto in 2024.
Do newsletters really have the potential to be a full-fledged future business?
But the future business idea that I’m proposing here is to start a newsletter and podcast in 2024. Newsletter subscription business is on the rise, and a latest poll that I carried on Linkedin gained good traction in terms of views. The poll made it very clear that most of the newsletter subscribers are subscribed to the unpaid version.
At first glance, it would look like a red flag for starting a newsletter business. But this is a green signal as people cannot stop consuming good content, and good content creators can not survive by making pennies in return for all the hard work that they do.
So, sooner or later – good content creators will have to start charging premium money for the high quality content that they create, and more and more people would start subscribing to exclusive newsletters and podcasts.
What about podcasts? Will it survive in the future with twitter spaces & clubhouse as competitors?
Some are saying, with clubhouse – podcasts are dead. Nope. It is not. Yes, with clubhouse now we have a Radio where everyone can be a host, and everyone can be a guest too. But still, newsletters and podcasts will have a big market. With web series coming into the picture – the movie industry is not dead. With blogs, book industry is not dead. And with Clubhouse – podcasts and newsletters won’t go obsolete. So, venture into the newsletter business if you have got a knack for writing and curating content.
Just a little on-ground news
FYI, just a few days back, a senior marketer revealed to me that he is launching a new newsletter, and I was all thrilled because I have been suggesting him to do just that because I see the potential in him, the charm he has got and the humbleness that he radiates. All signals a great marketing leader, and he has got the passion for writing too. A complete marketing package.
Explore innovative business ideas on GrowthRomeo. And if you have friends from Bihar, do recommend them our business ideas for Bihar blog. Bihar need more entrepreneurs.
5. Animal care and training
Animal care and training
Not that new a futuristic business idea, but yeah it’ll keep growing in the future as well. American people spend close to USD 80 Billion on their pets. Mostly the pets that US citizens own are Dogs, Cats, and Fishes. Australia is famous for having snakes as pet. A few days back I was reading a story where a snake bit a man’s testicles in Australia. Funny and scary. About 67% of the households in the US own a pet.
Is pet market growing in India? What are the present & future trends?
India too is a rising country when it comes to owning a pet. My family too owned a pet. But I feel most of the people in India own a pet just to show off or to catch up with trend.
I remember a friend of mine who owned a dog, and he once told me that he beats the dog with belt like shit at times. I asked him “why?”. And his response was “because the dog misbehaves”. Wow! I am not judging him. I, personally, have never owned a dog, so no comments. But to an extent, it does tell that many people are adopting dogs just to show-off.
Profitability, viability for pet related future ideas
Anyways, animal care is a profitable future business idea for those who love and are passionate about animals in general. Leaving pets back home while people go to work can be very dangerous for the pet and as well as for the kids if the owner has any. So, you can have an hourly or day based pet day care business in your locality to look after such pets.
Additionally, you can also start a pet training and grooming business. Lastly, there is another business idea related to pets – if you know how to train animals for circus – you can train them for movies/theatres.
There are some more upcoming business ideas (42 in total) which I have not discussed here. Explore those upcoming business ideas as well.
6. Video based eCommerce future business idea 2024
Video commerce
Experts say that the future is video, and that applies to the ecommerce and retail sector too. Video based ecommerce is a rising trend. People are using videos to shop online. There are companies that are building solutions to make shopping accessible directly from the video. And this is a high-potential, innovative, future business idea to start in 2024. It could be highly profitable if it clicks.
“Shopping from videos”, What do I mean?
Imagine your favorite content creator wearing an awesome outfit and you want to purchase it. Traditional approach was to visit a theme fashion store that keeps dresses & designs that popular celebrities wear. Now, with shoppable videos it is going to be as easy as clicking the video while it is streaming and purchasing the dress. Yes, seamless video shopping experiences.
How to be a winner in this video-commerce space?
Delivering engaging shopping experiences to the audience is the future of ecommerce. What can you do? Start something similar or start a solution for integrating in-app shopping experiences on media websites. I guess the winner here will not be the one who starts first, but the one who acquires the market fast and makes new partners at a flash speed.
Another media related eCommerce based future business idea
One more idea here could be to – start building api solutions for in-app podcast shopping experiences. Podcast creators are gonna love this. Last idea: build a bidding or flash sale feature into Clubhouse. I feel that’s gonna work like crazy.
Oh wait! Before you move to the next opportunity, did you check our eCommerce business ideas insight?
7. Smart home based future business ideas
smart home
We are soon entering into what was until yesterday a sci-fi movie. In no time, all of us will be having robots walking next to us. It took 10 years for landline telephones to penetrate our lives, 6-7 years for mobile phones, 2-3 years for smartphones.
Present status
The first version of robots, smart home automation tools are already in the market. The rich section of the society is able to afford it, and if you visit their home you would find that they turn-off the lights of their room by clapping or instructing Alexa or Google Home.
This is the business to enter if you have the required skills, investment, and commitment. If you don’t have one, you can always acquire them 😉 Yes, you can acquire all three – skill, investment, and commitment. More details of smart homes can be found here.
On a different note, find out some really good retail business ideas if you’re more into selling. Or else, checkout manufacturing business ideas if you have a taste for building things from scratch.
8. Autonomous Cars related future business ideas
Autonomous cars
Okay, this business is not for small pockets. Autonomous cars are something that Big billionaires are pursuing as of now. But here is a future business idea related to autonomous cars for which you do not need to manufacture the car itself, but the software that makes the car autonomous. Or maybe, add-on softwares that augments the travelling experience of the travellers. I hope you get the idea. Netherlands, Singapore, United States, Sweden, UK (United Kingdom), Germany, Canada, UAE (United Arab Emirates), New Zealand, and South Korea are top countries which are prepared for embracing Autonomous Vehicles.
Another mobility related future business idea
As an alternative future business idea here – you may also consider starting up in e-bikes or e-scooters industry segments. Recent health threats have forced people to avoid close proximity and so people started purchasing bikes to commute on their own.
And also because, most of the people had no expenditure while they were in quarantine so they had high disposable income and a majority of it went to buying houses and vehicles. E-vehicles market is in a frenzy in India too. And almost all automobile businesses are investing in it. With 10 years future goal, you can definitely start a business in this.
By the way, I recommend checking out Kids-focused business ideas, if you’re looking to serve in kids segment. Alternatively, if you’re a women, you can also check the blog on business ideas for women.
9. The Feeling Economy based future business ideas
Feeling economy based businesses
We spoke about smart homes, autonomous vehicles, automation technologies, all these are kinda replacing a good chunk of human jobs which were repetitive in nature. I’m not saying that it will eat jobs, but yeah, I do feel it will replace it. And the research results from several big organisations say the same. For instance, as per the future of jobs report by the World Economic Forum machines will take up the jobs that don’t need humans at its core – data collection, analysis, administration works etcetera. And humans will stop doing the monotonous robotic tasks and take up more creative jobs that involve reasoning, problem solving, interaction, decision making, resilience, judgement, feeling, etcetera.
That’s not it… more future business ideas
Those are our top 9 future business ideas for you to start in 2024. But as always – it’s not the end until you see the end.
The list of future business ideas continues. Here are two more ideas for you to consider in 2024. One of the first future business ideas is from the finance industry, more specifically FinTech. And the second idea is from the Education industry. For now, we have explained these futuristic business ideas in short. Soon, I’ll cover them with detailed explanations.
DeFi Apps – new age business
DeFi
DeFi stands for decentralised finance apps. So, it is like building a digital financial transaction application on top of blockchain technologies like Ethereum and Bitcoin to help people transact with banks as the middleman.
AR led virtual learning & training business ideas
Augmented reality for edTech
Augmented reality is a technology that with the help of sensory modalities like advanced vision accessories helps you better interact and visualize the real world. Yes, it’s possible. A simple example could be, on an empty surgery table, AR technologies can make you visualize a dummy patient who would look exactly like a real-life one and you can learn surgeries practicing on that AR created patient.
Another use case could be delivering emergency care. For example, a very experienced surgeon 2000 miles away can instruct a junior surgeon to carry out a surgery on a patient by remotely outlining the cut marks on the patient’s body.
This was the last future business idea here, with that I would like to wrap up this article.
Tada!
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