Tech businesses are booming – and they aren’t booming alone. When automated and accompanied by digital tools, all conventional businesses, like retail and real estate, flourished.
Ventures like Zillow, Alibaba, Spotify, and HubSpot are examples of modern ventures that reshaped and disrupted their market position when blended with tech. Here are the top 5 online, tech-based business ideas you can start working on today. Know that we have arranged these in the order of increasing investment requirements.
1. Online Magazine
To start, you need a domain name, a hosting plan, content creation, a publishing strategy, and some keywords for initial traffic growth. You can get all this under $100 for the first year, considering you create content yourself. This content creation part includes writing articles and social media posts.
Your android application development will increase after the first year because you’ll have to pay regular domain and hosting charges – but so will the traffic, organic growth, and earnings. This is still a low-cost option if you run a DIY blog on WordPress.
The key to growing and earning from your online magazine is writing content that’s a mix of two: queries that people are searching for and ideas that they will be interested in reading.
The ideal way to earn from a blog magazine is via Google AdSense – Google’s official ad program that pays bloggers and content creators based on a monthly number of visitors.
However, the earnings broadly vary across niches and your visitors’ region. For example, the most profitable blogs are tech-based, attracting readers from America and Europe. Second up are lifestyle blogs, art, and literature.
But we still recommend working on a niche that you’re highly interested in and wish to scale in the future.
2. Affiliate Marketing Business
Affiliate marketing is an online business model where marketers, or let’s say, content creators, get commissions from products and services from other manufacturers. You don’t have to create or sell a product of your own – only promote somebody else’s products, preferably software programs, SaaS tools, and apps, because they offer reasonable commission rates.
Affiliate marketers also work offline, especially promoting products via physical demos. Beauty, skincare, and clothing items typically fall in this niche. However, we recommend you start online, then scale it to offline to maintain your business costs in the beginning.
You can start an affiliate marketing business just like an online magazine – only that you’ll have to take greater care of the reader experience. You need a professional website with a decent user interface, content with high-end readability, and honest opinions to develop trust with your readership and affiliations with the products you want to promote.
The essential requirement for all these is a professional website that loads faster, can be optimized for search engine queries, and has an appealing, niche-specific or branded design, and so on. While you can DIY a website within $100, I recommend you choose a professional web developer and set up a great business-level website. If you want to optimize your budget initially, opt for web designers in NJ. Web professionals in this region have unique design sense and offer competitive rates with post-launch maintenance services.
3. Smartphone Application
There are around 3.48 million apps on the Play Store and a million on App Store, most of them are the products made by top mobile app development companies in NYC. But there’s always space for more – those with high-end user experiences that solve users’ problems or provide a product or service in less time and cost.
When building a mobile app, you need a great idea, but that’s not the only business requirement. You need a business mix – a unique idea, proper execution, a solid budget to build and maintain, marketing techniques, and most importantly, a team to handle it all.
Talking about development budgets, an average app costs around $75,000. This is an estimate of a native app (Android or iOS) with basic functionality. A significant part of this cost comes from the human resources in designing and developing your app.
To optimize app development costs, here are your three options:
- Go for Flutter app development. This way, you’ll get two apps (Android and iOS) for a price of one built on one major platform offering similar performance.
- Consider outsourcing your project to an Android application development company where you can find a huge talent pool here, with relevant portfolios yet competitive hourly rates because it’s a growing tech hub.
- Build an MVP of your app. It’s a basic app with core functionality and limited yet complete features. Test its viability in the market, then scale depending on your business requirements.
Most profitable app niches include healthcare apps, smart home managers, real estate apps, ecommerce solutions and marketplaces, social networking sites, and video content apps like TikTok.
4. SaaS Product
Another development-related venture is building a SaaS program for business users. Software as a Service, abbreviated as SaaS, is a centrally hosted application program with a different delivery method than traditional software.
It demands a higher budget and offers better revenues. SaaS development eliminates the need to download, install, or store an app on a local device or storage, differentiating its pricing models, subscriptions, usage facilities, updates, and technical setups.
Common SaaS examples include HubSpot, Shopify, Canva, Salesforce, Zoom, and Slack. A typical SaaS program for business users costs an average of $150,000.
Here are the top 5 trending ideas for SaaS development:
- Communication tools and programs, audio and video conferencing apps
- Business programs for financial, supply chain, and performance management
- Corporate analysis and automation tools for marketing, lead gen, sales, and customer engagement
- Content creation and presentation programs
- Security and privacy programs like VPNs
Games have evolved into something bigger, not purely a mobile app niche anymore. Leading marketplaces now have games for smartwatches, big screens, and on the cloud – you can play anywhere without downloading or installing.
Game development requires some of the heaviest budgets, but with the right audience targeting and monetization models, these investments pay back in nearly three years. While there is high competition for new games in the saturated market, diversity in game content is considered the most significant competitive advantage and success factor.
A basic game for children costs $50,000 in development. More profitable ones, hosted on cloud gaming platforms, use AR/VR capabilities, or work with NFTs start from $150,000. Plus, you’ll have to regularly test and maintain the game for a fluid player experience.
Some trending game development ideas include:
- Role Playing games
- Real-time strategy games
- Esports apps
- Blockchain-based games with play-to-earn and NFT rewards
- Games with AR capabilities like Pokémon Go and Zombies Run
- Games with VR capabilities like Spiderman and Beat Saber
Tech businesses have the highest earning potential in this highly digital era. Considering the competition, turning good money with such tech ventures is only possible with a practical USP, proper marketing, and agile business strategies.
Entrepreneurs opting for high investment ventures should consider hiring Android app developers to seek excellent digital solutions and marketing services for a better future and improved operational productivity.