Top 14 profitable business ideas for 2024

hey guys welcome to Silicon Valley girl today we're going to talk about top business ideas in 2024 and I don't want to give you some obvious ideas that you can think about yourself like Drop Shipping on Amazon or starting an Airbnb that seems pretty obvious but I want to focus on the latest trends and new technologies that are expanding around the world the world is changing and your business idea has to stay relevant for the next few years and there is something I want you to remember before we go into this video you need to choose a market that is growing and that is big the thing is you put the same amount of effort into building a billion dooll company and building a several hundred, company I live in silcon Valley and I see so many entrepreneurs every day I talk to them every day and the ones who chose the right Market are building the billion dollar companies and the ones who chose the market that is shrinking they are losing in the long run and because of that I also base my research on how big the market is how fast it's growing I also decided to rank my business ideas we're going to start with the ones that are kind of harder to start because I'm going to talk about robotics I'm going to talk about Ai and VR and in the second part of this video I will talk about ideas that are kind of easy to start over a weekend so please watch this video up to the very end to make sure you've seen all of the ideas I've prepared for you and before we dive into idea number 14 I wanted to let you know guys that I have an email list where we'll share more about business ideas and making money online please subscribe the link will be down in the description and here we go my top business ideas for 2024 number 14 robotic housekeepers this is something that Elon Musk has already announced he stated that humans have to be ready to coexist with the eye and robots while the idea of robotic housekeepers is still in the research and development phase musk's Vision aligns with the potential for AI and Robotics to transform domestic activities I already see a like I can visualize a robot in my home watering flowers mopping the floors oh my God like this is something I love doing myself but not on a daily basis so it would be great to have that type of help the consumer robotics Market including household cleaning robots is experiencing significant growth the market is projected to reach a valuation of $76 billion by 2032 with cleaning robots expected to generate maximum revenue and contribute to stress reduction and Time Savings for customers so if you're excited about robotics look into this market number 13 monitoring gadgets and robots for the elderly I promise this is the last type of robot we're going to discuss but I just find it so interesting how the world is changing so first of all we have longer lifespan and there is a problem of an aging population and shortage of cure givers in the US and at the same time we have this growing robotics market right so according to the US Census Bureau the older population grew by almost 40% from 2010 to 2020 reaching 55 million which represents 16% of the total population and these seniors need care some of them need someone to watch over them even 24 hours a day it can be a very difficult and expensive task if humans are involved so Advanced gadgets and robots for monitoring and contact with seniors can be big help here I have a friend who actually started developing a startup where there was a camera tracking elderly movements and it could actually tell whether an elderly person fell or something irregular happened and it notified this person's relatives or you know caregivers but that was several years ago before the AI and I can see how this could be a huge idea now so unfortunately they gave up on that idea but I feel like if they started this year it could have a cool potential especially you know being acquired by a robotic company later on the use of AI in this context has potential to revolutionize Elderly Care by facil facilitating Independent Living while ensuring timely assistance and support when needed this Market has a valuation of 2.5 billion right now but it's projected that it's going to grow to $8 billion in 2033 remember how I told you always being the growing market and it's only going to grow number 12 there is another exciting Market that is being revolutionized by AI it's actually the study and discovery of new drugs the AI drug Discovery Market is experiencing significant growth with the global market size valued at 1 billion in 2022 and it's expected to grow at a 30% rate from 2024 to 2030 an interesting example of the use of AI in drug Discovery is the protein structure prediction tool Alpha fold researchers use it to identify hundreds of thousands of potential new psychedelic molecules which could help to develop new kinds of anti-depressants the potential for AI to revolutionize the drug Discovery process is evident and the growing Market size indicated a promising business model for companies operating in this space we already see how AI analyzes I don't know we already see how AI analyzes x-rays your test results and here we see an even deeper application of AI number 11 zero waste delivery services with the development of e-commerce activity and the growing population of online shopping Americans are collectively spending attention over 1 trillion on e-commerce purchases in a year the average American receives 3.5 packages per week in my case it's like three packages a day which translates to approximately 182 packages a year just imagine how much packaging is used just to deliver things and then thrown away and you probably seen this online where um you know Amazon sends you something really small but it has to be in this huge box uh full of plastic bags right it is not environmentally friendly but so far no radical solution to this problem has been found according to a report by precedent research the zero waste packaging Market size is predicted to reach around 4.6 billion by 20133 and its growth rate is around 9% this growth is driven by the increasing demand for sustainable packaging techniques and the expansion of consumer goods business there are also zero waste grocery stores there is a lot going on in the space so pay attention to it now moving on to idea number 10 VR content VR technology is advancing rapidly especially given the wave of hype with apple Vision Pro glasses right now and the VR content Niche is still a bit empty and when I was trying Apple Vision Pro we actually got a pair for ourselves but we couldn't return it the thing is one of the applications that I see is actually spatial video but we don't have this content yet so when you wear Apple Vision Pro you can see some demos but what if it's actual spatial video where you can you know kind of be in the same room with your kids we don't have that content yet I iPhone 15 can actually shoot that type of content so my prediction is there will be this movement towards spatial videos especially on platforms like YouTube Netflix etc for now we only have the first version of Apple Vision Pro but it's only going to get better and it's going to become more and more convenient so when many people will have such VR glasses there will be a need for some kind of new VR Instagram or YouTube so to takeway from here you can either build your own platform you can build technology that helps with VR videos or you can start thinking of becoming a VR Creator the VR content Market size is projected to reach $3.1 billion in 2024 and grow attention at 46% to reach $20 billion by 2029 as a Creator I'm already thinking of you know creating those spatial videos just in case remember when 4K was introduced how it was pushed by the algorithm and a lot of people who started shooting in 4k they were surfaced by the algorithm I think the same is going to happen happen very soon with spatial videos once YouTube releases an app for Apple Vision Pro there will be a growing demand for spatial videos and you can be one of the first take this idea I will take it for myself as well uh the Market's growth is influenced by content diversity such as gaming and education okay number nine sustainable fashion rental platforms clothing rental services are the future off Fashion World in my opinion especially how I see people use clothes they put a dress on for Halloween and then it's either waiting for the next Halloween or it's not being used at all especially more and more people buying outfits for creating content we just see how much demand there is for clothes that could be worn one or two times and if you remember guys a couple years ago I talked about digital fashion I invested in startup called tress sex which allows you to wear digital clothing for now there is not too much application for it but there is definitely a lot of application for rental services and fashion one of the advantages of this business business is that it's a subscription model and subscription model always wins because you can predict your demand because you can make your products stickier instead of constantly investing in marketing an example you can study for inspiration in this Niche is Ren the runway company they reported a revenue of $296 million for the fiscal year of 2022 which represented a 40% increase year-over-year the company also announced that it had achieved a record high of $140,000 active subscribers in 2023 which is again a 25% growth I then think they're going to report it soon but they expect it to make 330 million in 2023 another tip from you guys as a business owner when I look at the market I always try to see how much the biggest players are making because when you start a small business you kind of aim to become like maybe 1% of a bigger business so when you see companies like Rent the Runway that kind of indicates that the market is mature that it's growing that there is demand because it's really hard to come up with something brand new it's always easier to penetrate a market that already exists where you see the demand uh and so you start growing with the market number eight uh we started this video with robots and another business idea that I discovered is called a robots store so the thing is robots are still in the early stages of development more and more of them are in demand so we basically have something here in Silicon Valley which is a specialized store that sells robots or some specific pieces of robots so the way those stores make money is not about actually selling they actually charge a robot companies subscription so that they can display their products in their stores and I think it's a genius business idea especially now when people are willing to discover new technology but maybe they're not willing to buy right away what we've seen with apple Vision Pro some people got it but a lot of people just went to Apple Stores to schedule demos same is going to happen to all of the new development in the robotics Market where you know ideally you come to a space where you can test all the robots and decide whether you want one or not so the most popular robots right now are cleaning robots robots for children and articulated robots also very interesting types of robots are cobots of course there are also industrial robots and robots used for entertainment number seven remote Health Services what I don't understand is how in 2024 healthcare services are still so unoptimized and kind of inex accessible to a huge number of people especially if we're talking about the US you know how expensive it is how inconvenient it can be to get treatment here so of course more and more people prefer remote visits I honestly have some doctors who are actually abroad because it's easier for me to communicate with them CU I can't really communicate with our doctors here in the US I have to go through the nurse and they always tell me like oh give us a 24hour window to answer a question and normally you know because I have two small kids I want an answer right now like what's this rash I don't want to go to urgent care I just want a doctor to quickly look at it and say whether it's something urgent or not so because I couldn't find the right health care for my kids I still have some doctors abroad who are willing to help me at any time of day and it costs a fraction of what we pay here for insurance and every time I do this I think this could be a cool business idea for the US where you just contact a doctor like a and not like a service that connects you to a random doctor there's this thing called concierge medicine here and one of my friends has it and it's like $225,000 a year for you to be able to text your doctor like this is crazy it's a top doctor and he has all of the connections but still I know that in other countries it's like I don't know $20 per call so this problem is slowly beginning to be solved by tele medicine and remote Consultation Services but the demand still far exceeds the supply the global remote Healthcare Market is projected to reach a value of 25 billion in 2030 and almost 40 billon billion in 2032 and the annual growth is almost 20% so look at it number six AI sales sales through AI is definitely one of the next big things that will change your business processes forever and whoever takes over this market and offers the best AI sales automation solution will 100% win because AI can help prioritize personalization analyze available information about prospects and create targeted strategies that speak to their needs and it's not only about interaction with c customers it's also about finding the prospect the global sales intelligence Market size was valued at 2.9 billion in 2022 this Market is already 3 billion and it's only going to grow number five AI tools implementation Consulting I just talked to my husband and uh the new video tool Sarah has been just released and we've been talking a lot like what do you do when AI is progress saying at such a fast base like we knew this was going to come out but we thought it was going to come out out in 2025 2026 and uh I was talking to him and I was like what's the best course of action for regular people and I think the best course of action is to study whatever is trending in your Market in your Niche and there is a market connected with that it's called AI tools implementation Consulting so basically if you are the one who studies all the tools like I can study all the AI tools for creators I could later on consult independent creators or media companies on how they could Implement AI tools and services in their business because often entrepreneurs and creators continue to spend thousands sometimes millions of dollars in human labor because they simply don't understand that AI can already do the job like research I use perplexity all going to use Sarah for b-roll uh we're using mid Journey for some thumbnails or some b-roll photos and uh basically an AI consultant analyzes the structure of a company and proposes strategy on how to optimize through new AI tools and you might say but Marina wouldn't there be another AI assistant who would consult you on how to use AI tools honestly I don't know but this Market is already 55 billion and it's expected to grow to 450 billion in 20131 okay number four it's actually a consumer facing business with excellent service and I want to uh just you know inspire you guys if you're an offline person and you think like AI robots Okay but you know there are day-to-day things that are not fixed yet like it's so hard to find a healthy place to eat and it's my personal pain that the US is so far behind European countries in terms of surfice and if there is a good restaurant or beauty salon with beautiful interior fine dishes and excellent service at the European level there is immediately a full occupancy and prices are three times higher than average because the supply is almost non-existent and the demand is huge so please if you want to open an offline business with excellent service text me I'm ready to be a first customer in the US but I think we're really really needed I feel like the US I know that it was initially a country where immigrants came to make money they didn't care about you know porcelain um mugs or plates but honestly I feel like we as a society are moving towards appreciating the beauty appreciating the luxuries and uh um I missed that I missed that even like I was talking to some of my friends and they were comparing Ritz Carlton here in the US and in Europe and they said like the the devil is in the details if you go to RZ Carlton Paris all of the dishes they will be piece of art here in Ritz Carlton it's just something average I never noticed that myself but when they told me that I started noticing those details okay now we are approaching top three business ideas for 2024 in terms of how easy it is to start them uh number three is drop servicing so it's similar to drop shipping you can Outsource services to others and take commission on sales and when I say others I also mean Ai and this can be anything from graphic design copywriting virtual assistant or video editing services to translation and much more great places to sell such services are Fiverr and upwork and I just started Outsourcing my video editing to India uh I found amazing people who started a company editing videos for American creators and the price is unbeatable and uh it's still the market and I'm pretty sure a lot of editors are using AI tools to make their job faster number two this is a trend for 2024 and it's called Art pancakes remember how Boba started taking over the Western World here's another idea from the East art pancakes are popular food and entertainment from Thailand which could be the next boba tea or take over the American Market it looks like a huge stove with a bunch of cans of colored dough and kids can draw them El a pancake and eat it it's both delicious and fun there are also pancake artists who can make real pieces of art out of the batter my parents live in Thailand and they've been living there for four years now and it's just incredible how many ideas we can take from Thailand to the US the market for art pancakes is diverse ranging from traditional handcrafted pancakes art to technological innovations like 3D printed pancakes and number one of course it has to be Ai and of course it has to be Ed with content just because I noticed how many content creators are there on the market right now and how easy it is to be surfaced by the algorithm if you're just starting out but you know how to create good content there is something that changed my life a lot in the past year I'm already using ai's automatic video translation video editing and experimenting with video thumbnails that AI makes from scratch and even though new services for creators are popping up every day this Market is still just starting out the a AI content generation Market is expected to reach almost $6 billion by 2029 there are still a lot of UNM needs there are manual edits Photoshop Etc and you can definitely carve out a niche for yourself products that started in this Niche a couple of years ago are now taking off in terms of users and revenue for example and it talked about this the app is called haen an app I use regularly they reached 1 million in annual recurring Revenue in March and in October they already made $10 million that's 2023 when I first discovered them I just loved uh their feature when uh they translated everything into a different language and it sounded super naturally and you know the technology and the demand is there so today they're making $18 million according to Forbes it's super inspiring how you can start a company from scratch and grow so fast again we are in 2024 everything is speeding up you have to take action you have to start experimenting and you have to fail like fail five times and then come back to this video and pick another business idea it's really important that you act I feel like a lot of people are thinking I feel like a lot of people are like I'm going to start later it's not the time well start now fail and learn something thank you so much for watching this video up to the very end I hope it inspired you to start a business the world is evolving because of entrepreneurs scientists and mothers thank you so much please send this video to someone who's starting a business and I'll see you very soon on this channel bye

Channel: Silicon Valley Girl

Views: 84,762

Keywords: silicon valley girl, marina mogilko, linguamarina, business ideas, profitable business ideas, in demand business, small business ideas, new business ideas, new business, business ideas of the future, how to start a business, silicon valley, artificial intelligence, ai business ideas, what business to start in 2024

Id: Mf-CY0J82yk

Length: 20min 36sec (1236 seconds)

Published: Fri Mar 01 2024