Are you a budding entrepreneur but you lack ideas on what tech business to start? If YES, here are 100+ best business ideas in the technology industry.
The technology industry is one industry that is on a constant upward motion. This industry focuses primarily on the development and manufacturing of technology products, or providing technology as a service. The sector mainly caters to businesses revolving around the manufacturing of electronics, creation of software, computers or products and services relating to information technology.
The technology sector offers a wide arrange of products and services for both consumers and businesses. Consumer goods like personal computers, mobile devices, wearable technology, home appliances, and televisions and so on are continually being improved and sold to consumers with new features, and businesses that are responsible for doing this are on a constant profit ride. This is because majority of the people in the world today are tech consumers more than producers.
If you are a tech-savvy and you are able to tweak gadgets to suit the rising needs of people, then you can certainly earn a decent income by starting a business in the technology industry. If you need particular ideas on ways to apply your skills to become profitable in the tech industry, we have provided you a couple of business ideas you can look into.
100+ Best Small Business ideas in the Technology Industry
Since smartphones and mobile tablets became popular, software developers have been striking it big. A lot of app developers have been lucky enough to become highly successful from developing just one innovative app. The app development industry is a very attractive one with a lot of future prospects especially since more electronic devices are expected to go smart in the nearest future.
The app development business involves creating mobile applications for smartphone users. The applications can be downloaded from the various mobile app stores like Google Playstore for Android and iOS for iPhone users. The business also involves script and code writing and mobile app development for external clients. You can comfortably do this business from anywhere in the world.
Repairing of computers (laptops and desktops) is yet another thriving and profitable tech business idea that an entrepreneur who is looking towards starting a business can start. All you need to do to get this business going is to acquire computer repair skills, purchase the required repair tools and then rent a shop in a good location.
There is indeed a large market for this type of business because there is hardly any organization or home where you won’t find computers and of course computers can become faulty hence the need for repairs.
Yet another business idea that a tech savvy entrepreneur can launch is to open a cell phone repair center; a place where people can repair their smart phones, tablets and iPads. The truth is that if you can secure a visible location, you will attract loads of clients because of the large number of people that own cell phones and related gadgets. So if you are techie inclined, then with little training and capital, you can open your own cell phone repair shop.
Internet Cafe, often called Cyber Cafe, is a place that offers customers hi-speed internet access, other computer services and variety of PC games. It deals with internet time that a customer buys and this time can be sold per hour or minute and sometimes longer.
To set up an internet cafe, start by renting out a space for your cafe that’s near potential customers, like a spot next to a college or a hotel. Then, buy all of the necessary equipment for your cafe, including computers, routers, and printers. Having good customers service skills will also serve you well in the business.
Drone photography can be a profitable business and it is very popular nowadays. However, if you want to be successful in this business, you must have a drone that is equipped with a gimbal and a quality camera which is capable of taking crystal clear high-quality videos/photos from the air.
Now, if you plan to sell your photography or use it in any commercial way, you will need to get a drone license. As a professional drone pilot, you can also charge per hour for specific projects. Let’s say it usually takes you three hours to take 20 aerial real estate photos and enough footage for a 3-minute marketing video, and you want to get paid at least $600, you can charge $200/hour for these deliverables.
Consultants work with clients on strategy, planning and problem solving, and they also help clients develop business skills and knowledge. IT consulting can be a lucrative field. In fact, revenues in this industry in the U.S. are projected to reach $471 billion by 2022.
It’s also a career field that is open to customization and flexibility. The IT consulting economy is bigger than it’s ever been, and as businesses employ fewer and fewer full-time employees, they are depending more and more on independent contractors and consultants to fill in the gaps. This could be you if you are bold enough to start this business.
3D printing is an emerging paradigm in the printing technology industry. It isn’t just for prototyping anymore as 3D printing is used to accelerate product development, while as a manufacturing technology it is used for the production of end-use parts.
Many different materials can be used for 3D printing, such as ABS plastic, PLA, polyamide (nylon), glass filled polyamide, stereolithography materials (epoxy resins), silver, titanium, steel, wax, photopolymers and polycarbonate.
One of the easiest ways to make money with a 3D printer is to offer the printer as a commercial service or to sell items that are made with it. Businesses and individuals often want objects produced through 3D printing, but don’t have the equipment. Additionally, as a skilled designer, you can make items and sell them.
8. Software Development Business
Software development is the process of conceiving, specifying, designing, programming, documenting, testing, and bug fixing involved in creating and maintaining applications, frameworks, or other software components. Much of the work that goes on at a software development company is done on a computer.
Business owners spend time writing code, testing and debugging programs, marketing their programs and providing support to customers. These kinds of companies usually make money by charging license fees, charging by transactions, or offering subscriptions. Software products that are offered for free usually get their revenue from advertisements or through other related services such as training or technical support.
Biotech companies are companies that use live organisms or their products, such as bacteria or enzymes, to manufacture drugs. Common products such as beer and wine, wash detergent, and anything made of plastic are all biotechnology products. Biotechnology fields are divided into four groups, named by color.
Companies working with red biotechnology apply it to medical processes, such as the production of antibiotics and genetic cures. White biotechnology is used in industrial processes, while green biotechnology is applied to agricultural processes. Blue biotechnology is issued in marine applications. This is a financially heavy industry so you must be prepared before you can start.
A data center is a facility composed of networked computers and storage that businesses or other organizations use to organize, process, store and disseminate large amounts of data. Data centers house a network’s most critical systems and are vital to the continuity of daily operations.
Data centers can be quite expensive to start and they are also resource intensive. A 1,000 square ft. data center would then cost $1 million, on that basis. A data center of the size that Facebook or Google might use would cost from $250 million to $500 million. But you need not go this large if you are just starting out.
Bitcoin mining is the process of adding transaction records to Bitcoin’s public ledger of past transactions. Miners run software to find the key that will open that padlock. Once their computer finds it, the box pops open and the transactions are verified.
For finding that “needle in a haystack” key, the miner gets a reward of 25 newly generated bitcoins. According to a recently published analysis conducted by Elite Fixtures, which examined the electricity costs of 115 countries, the United States ranked as the 40th cheapest to mine a single bitcoin, with an average cost of $4,758.
12. Drone Repair Service Business
Drone technology is quickly gaining prominence in the globe beyond the military circuit. Facts have shown that drones are very crucial especially when the risk and difficulty involved in any military operation is high and unsafe for soldiers.
However, apart from the military, drones are now being used commercially. With the number of commercial drones expected to soar into millions in the next few years, individuals whose unmanned aircraft malfunction or crash will be looking for places to get them repaired.
Drone repair services are set to explode. A lot of repair shops authorized by manufacturers to fix smaller drones already are having trouble keeping up with demand. It is important to state that starting a drone repair business can be capital intensive but it is highly profitable because the industry is still very fresh.
13. Big Data Mining and Analytics Business
As a data mining and analytics company, your responsibility is to develop software for data mining. Data mining is the process of extracting patterns from large data sets. Big data analytics is the often complex process of examining large and varied data sets to uncover information including hidden patterns, unknown correlations, market trends and customer preferences that can help organizations make informed business decisions.
Big Data is analyzed by organizations and businesses for reasons like discovering patterns and trends related to human behavior and our interaction with technology, which can then be used to make decisions that impact how we live, work, and play.
Cloud computing is an emerging paradigm computing concept that enables both information technology infrastructure and software to be delivered directly over the internet as a service. This is an arrangement that enables companies to expand their network capacity, and run applications directly on a vendor’s network.
One of the benefits of cloud computing is that for very low cost you can try out a service, find out how it works, and how it might benefit your company. You simply sign yourself up for a service.
15. Electronics Repair Shop Business
An electronics repair shop is another money spinning business that an aspiring entrepreneur who is looking towards starting a tech business should consider. One good thing about this type of business is that you can learn the technical skills from someone who is already in the business or from a technical school.
All you need to do is to rent a shop in a good location, set up the shop and advertise your electronics repair business. If you are lucky to be one of few electronic repair technicians in your community, you will make good money from this type of business.
Data recovery is one out of the three natural expansion paths for those that engage in computer services with the other two being IT services and mobile device repair.
Data recovery is however more expensive to start up when compared to the other two because when storage devices fail and can no longer become readable by the computer; it is only the use of specialized equipment that can help in recovering the data. Therefore, not only will you need to be knowledgeable about data recovery but also about the types of equipment necessary to restore data.
17. Blockchain Startup Business
A blockchain is a time-stamped series of immutable record of data that is managed by a cluster of computers not owned by any single entity. Each of these blocks of data are secured and bound to each other using cryptographic principles to form a chain.
Starting a blockchain startup business can be rewarding but you would have to compete with other well – established stakeholders on the Web. The fact that you will be competing with people from all over the globe is enough reason for you to be result oriented and at the same be creative with your blockchain startup business.
18. Cell Phone Retail Store Business
The cell phone market is one market that has not only exploded but has also grown tremendously and consistently. If you are an entrepreneur looking to go into this industry, then you might find that this is a very lucrative business. Just like any business that you would go into, it is very important that you conduct a thorough market research on the industry.
Carrying out a market research will enable you identify the niche you would prefer, how many competitors are in that niche and what strategies you have in place to stand out and compete favorably against your competitors.
19. Appliances Repair Business
Appliance repair technicians service home appliances, including dishwashers, washers and dryers, ranges, air conditioners, refrigerators, vacuum cleaners and microwaves. Larger appliances are generally repaired on-site; smaller appliances may be repaired at a shop.
You’ll need to be technically competent, have good detective skills (as not all problems are with the machine), have excellent communication skills, be personable, be a halfway decent businessman, and the possess highest levels of integrity.
20. Web Server Hosting Business
A web host, or web hosting service provider, is a business that provides the technologies and services needed for the website or webpage to be viewed in the Internet. Websites are hosted, or stored, on special computers called servers.
Web hosting companies provide an essential service to powering the internet by using the dedicated servers that host website content. Starting a web host may seem like a daunting task, but it is actually easy when you follow laid down procedures. Though there are a lot of web server hosting companies around, but the niche is not saturated.
21. Cloud Storage and Hosting Business
Cloud storage provides users with immediate access to a broad range of resources and applications hosted in the infrastructure of another organization via a web service interface. Cloud storage can be used for copying virtual machine images from the cloud to on-premises locations or to import a virtual machine image from an on-premises location to the cloud image library.
In addition, cloud storage can be used to move virtual machine images between user accounts or between data centres. Cloud storage can be used as natural disaster proof backup, as normally there are 2 or 3 different backup servers located in different places around the globe. This is another profitable but highly complicated tech business you an start.