22 Business Ideas That Could Make You Rich (That Most People Don’t Know About)

Are you aware there are businesses out there generating high profits, yet few people know about them? These overlooked ventures often thrive in niche markets, offering impressive returns due to minimal competition or unmet demand. 

If you’re seeking a high-return business that flies under the radar, you may find an unexpected opportunity just around the corner. For example, did you know digital products have been skyrocketing, with returns up to 90%? 

In this article, we’ll look into 22 businesses that, while not widely known, offer incredible potential for those looking to earn high returns. We’ll cover everything you need to know, including market conditions, startup costs, and the risks involved, so you can decide which one fits you.

Which of these businesses will be your next big move? Keep reading to find out and possibly inspire you to start one of these!

Virtual Event Planning

The global virtual event market is projected to grow to $657.64 billion by 2030, with a compound annual growth rate (CAGR) of 21.4% from 2022 to 2030. Virtual events have exploded in recent years, driven by the shift to remote work and global connectivity. 

Event planners can now specialize in virtual conferences, workshops, and corporate meetings, offering a highly scalable business model with minimal overhead. Returns for virtual event planners typically range between 10% to 30%, depending on various factors including scale, client budgets, and event types.

The virtual event market is expected to continue growing, making it a ripe opportunity for tech-savvy entrepreneurs. Initial capital requirements are low, with many planners starting with just a laptop, software, and a strong network. 

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Niche Subscription Boxes

Subscription boxes cater to specific interests and niches, covering artisanal snacks and even rare books. These boxes can yield high returns because they attract a loyal customer base willing to pay monthly for curated items. 

Returns for subscription box businesses often range between 20% to 40%, influenced by customer acquisition costs, product margins, and churn rates. This market has grown steadily, fueled by consumers’ desire for personalized, convenient experiences. 

Starting a subscription box business requires an initial investment of $10,000 to $50,000, depending on the product and scale. Risks include inventory management and customer churn, but with the right strategy, this can be mitigated. 

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ATM Ownership

ATM ownership is an obscure but lucrative business with relatively passive income potential. By placing ATMs in strategic locations such as convenience stores or malls, owners can earn transaction fees. 

Profits from ATMs can range between $500 to $1,500 per month, with returns ranging from 10% to 30% after maintenance and insurance. The ATM market remains stable, as cash is still widely used for smaller purchases. 

The capital required to start an ATM business can range between $3,000 and $10,000 per machine, with ongoing maintenance costs. The primary risk lies in vandalism or theft, but insurance can cover these issues. 

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Urban Beekeeping

Urban beekeeping is growing in popularity due to the increasing demand for locally sourced honey and sustainable practices. Honey production can yield high returns, especially if marketed well in urban environments where demand for organic and artisanal products is strong. 

Returns can be as high as 50% to 70%, especially for premium honey products. The urban beekeeping market has expanded in recent years, driven by environmental awareness and local food movements. Starting capital can be as low as $500 to $2,000, covering hives and equipment. 

Risks include colony collapse and regulations, but proper management can minimize these. This business is ideal for environmentally conscious individuals with access to rooftop or backyard spaces.

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Medical Billing Services

Medical billing services offer a profitable opportunity for those with a background in healthcare or finance. By managing billing processes for healthcare providers, entrepreneurs can earn between 7% to 10% of the total amount billed, with annual returns reaching 30% to 40%.

The demand for medical billing services continues to grow as healthcare providers outsource this task. Starting a medical billing business requires $10,000 to $20,000 in software, training, and licensing. Risks include regulatory changes and high competition, but this can be mitigated with proper training. 

This business is perfect for detail-oriented individuals with knowledge of the healthcare system.

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Digital Product Creation

According to a recent study, the global e-learning market, a significant portion of the digital product industry, is forecast to reach $457.8 billion by 2026. Selling digital products, such as e-books, courses, or software, offers high returns with minimal recurring costs. 

Digital products can yield profit margins as high as 80% to 90%, especially with effective marketing. The market for digital products continues to expand as consumers seek self-paced learning and online tools.

Initial capital can be as low as $1,000 to $5,000 for software and marketing, depending on the product. Risks include intellectual property theft and market saturation. This business is best for creatives and subject matter experts who can create valuable, high-quality content.

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Specialty Coffee Roasting

The specialty coffee industry continues to grow as consumers become more discerning about their coffee. Independent coffee roasters can generate high returns, with profit margins ranging from 30% to 50%, depending on sourcing and marketing efforts.

This market is competitive but lucrative, especially in urban areas where consumers are willing to pay for premium products. Initial capital can be between $20,000 to $100,000, covering equipment, beans, and rent. 

Risks include supply chain disruptions and competition, but these can be managed with proper planning. This business is ideal for coffee enthusiasts with a passion for quality.

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Private Label Cosmetics

Private label cosmetics allow entrepreneurs to brand pre-made products and sell them under their name. The profit margins in this industry can range from 40% to 60%, depending on branding and marketing efforts.

The beauty industry continues to thrive, especially with the rise of influencer-driven sales. Startup costs can vary, but initial capital often ranges between $10,000 and $50,000. 

Risks include product liability and customer satisfaction, but careful selection of manufacturers can mitigate these issues. This business is well-suited for individuals with strong marketing skills and an eye for trends.

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Mobile Pet Grooming

Mobile pet grooming has become a popular business, especially among pet owners seeking convenience. Profit margins for mobile grooming can range between 30% to 50%, depending on the service area and clientele.

The pet industry continues to grow, fueled by increasing pet ownership and spending. Startup costs for mobile grooming can range between $10,000 to $40,000, covering a van, equipment, and marketing. 

Risks include high competition and the need for consistent client acquisition, but strong customer service can help retain clients. This business is ideal for animal lovers with grooming skills.

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Custom T-Shirt Printing

The custom t-shirt business offers high returns for those who can tap into niche markets or viral trends. Profit margins can range between 30% to 50%, especially with online platforms that simplify production.

The custom apparel market continues to grow, driven by social media and personalization trends. Startup costs can be as low as $5,000 to $15,000, covering printing equipment and design software. 

Risks include copyright issues and fluctuating demand, but creative marketing can mitigate these. This business is ideal for artists and designers looking for a low-barrier entry into entrepreneurship.

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3D Printing Services

3D printing has revolutionized industries such as manufacturing, healthcare, and design. Offering 3D printing services can yield returns between 20% to 40%, especially for custom and high-demand products.

The 3D printing market is expected to grow significantly, driven by innovation and cost reduction. Starting capital can range between $5,000 to $50,000, depending on the printer and materials used. 

Risks include technological changes and competition, but staying ahead of trends can mitigate these. This business is best for tech enthusiasts with a passion for innovation.

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Storage Unit Ownership

Owning storage units provides a reliable, passive income stream, with returns ranging between 10% to 20% annually. The storage unit business benefits from high demand as people seek extra space for their belongings.

The market for storage units remains strong, with growing demand in urban areas. Starting capital can be significant, ranging between $100,000 to $1 million, depending on location and size. 

Risks include property damage and tenant issues, but proper management can minimize these. This business is ideal for real estate investors looking for stable, long-term income.

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Flipping Domain Names

Buying and selling domain names can yield high returns for those who understand market trends. Domain flipping can offer profit margins as high as 100% to 300%, depending on the value of the domain.

The domain market remains active, with high demand for premium and brandable names. Initial capital requirements can be low, often under $1,000, but some premium domains may require significant investment. 

Risks include holding onto unsold domains for extended periods, but strategic purchasing can mitigate these risks. This business is ideal for those with a good understanding of digital trends and branding.

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Solar Panel Installation

With the increasing demand for renewable energy, solar panel installation offers high returns for skilled installers. Profit margins for solar businesses can range between 20% to 30%, depending on the project size and location.

The solar industry continues to grow, driven by environmental concerns and government incentives. Startup costs can be significant, ranging between $50,000 to $200,000, depending on the scale of the business. 

Risks include regulatory changes and competition, but the growing demand for clean energy offsets these concerns. This business is best suited for individuals with technical skills and a passion for sustainability.

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Ghost Kitchen Operations

Ghost kitchens have become a lucrative business model, leveraging the rise of food delivery services. These operations focus solely on preparing meals for delivery without needing a traditional restaurant. Profit margins can range from 20% to 40%, with low overhead costs.

The ghost kitchen market is booming, driven by convenience and the demand for quick, quality meals. Starting capital can range from $10,000 to $50,000, covering kitchen space, equipment, and ingredients. 

Risks include competition and reliance on delivery platforms, but strong branding can help mitigate these. This business is perfect for culinary entrepreneurs looking to minimize upfront investment.

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Digital Advertising Management for Small Businesses

Managing digital advertising campaigns for small businesses offers a scalable and high-margin service. Profit margins can reach 30% to 50%, with minimal overhead costs. Small businesses often outsource ad management, making this a thriving market.

Digital advertising spending continues to rise, especially with the growth of social media platforms. Starting a digital ad management service requires an initial investment of $5,000 to $15,000, primarily for software and training.

Risks include ad platform changes and client retention, but staying updated on trends helps reduce these risks. This business suits marketing professionals or tech-savvy individuals with advertising experience.

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Local Artisanal Product Delivery Service

A local delivery service for artisanal products connects customers with hard-to-find, locally made goods. Profit margins can range between 25% to 45%, depending on delivery fees and product markups. The business model focuses on curating unique, locally sourced items.

With the rise of “shop local” movements, this market continues to expand. Initial capital often ranges between $10,000 and $30,000, covering transportation, marketing, and partnerships with local producers. 

Risks include logistical challenges and managing relationships with artisans, but effective communication can reduce these. This business is ideal for individuals passionate about supporting local economies.

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Podcast Editing Services

As podcasting grows in popularity, podcast editing services have become a high-return, low-cost business. Profit margins can range between 40% and 70%, depending on the complexity of services offered. Podcasters need help with editing, sound engineering, and post-production, creating consistent demand.

The podcast market continues to grow, making this a sustainable business opportunity. Initial capital often ranges between $1,000 and $5,000, covering audio editing software and marketing. 

Risks include competition and managing client expectations, but excellent service can build strong client relationships. This business is ideal for audio enthusiasts with technical skills.

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Car Wash Ownership

Owning an automated car wash can generate consistent, high returns with relatively low management. Profit margins for car washes range between 20% to 40%, depending on location and services offered.

The car wash industry remains stable, with increasing demand for quick, automated services. Starting capital can be substantial, ranging between $100,000 to $500,000, depending on the size and equipment. 

Risks include high competition and seasonal downturns, but strong marketing can offset these challenges. This business is best for investors looking for semi-passive income opportunities.

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Online Personal Styling

Online personal styling allows individuals to offer fashion advice and wardrobe selections to clients virtually. Profit margins can range between 30% and 50%, especially with subscription-based services. 

Stylists help clients save time and improve their personal appearance, making it a valued service. This market is expanding, driven by the increasing interest in fashion and personal branding. 

Startup costs are relatively low, ranging between $5,000 and $15,000, covering styling software and marketing. Risks include customer satisfaction and fashion trends, but clear communication can mitigate these. This business is suited for fashion-forward individuals with an eye for style.

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Farm-to-Table Catering

Farm-to-table catering focuses on sourcing local, organic ingredients for high-end catering events. Profit margins can range between 25% and 45%, depending on ingredient costs and event size. This business model taps into the growing demand for sustainable and ethical food sourcing.

As consumer awareness about food origins increases, the farm-to-table movement gains traction. Initial capital can range between $15,000 and $50,000, covering kitchen equipment, ingredients, and transportation.

Risks include supply chain challenges and seasonality, but strong supplier relationships help maintain consistency. This business is perfect for chefs passionate about local, sustainable food.

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Mobile Dog Training Services

Mobile dog training offers a high-return business model by providing convenient, at-home training sessions. Profit margins can range between 40% and 60%, depending on the pricing and services offered. Customers are willing to pay for personalized, effective dog training.

The pet care industry continues to grow, fueled by increasing pet ownership and demand for services. Starting a mobile dog training business requires minimal capital, often between $5,000 and $15,000, covering a vehicle, equipment, and marketing. 

Risks include competition and client retention, but excellent results can lead to word-of-mouth referrals. This business is ideal for dog lovers with training experience.

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Finding Your High-Profit Niche

With so many profitable yet lesser-known businesses out there, the key is finding the right fit for your skills and resources. If you’re tech-savvy and interested in virtual event planning, or more hands-off and looking into ATM ownership, these ventures offer opportunities for impressive returns.

Remember, the most successful entrepreneurs often build their wealth by identifying niche markets that others overlook. By carefully evaluating the risks, costs, and demand, you could be on your way to owning a business that quietly outperforms the competition.

Now, which one of these hidden opportunities will you look into first?

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AI was used for light editing, formatting, and readability. But a human (me!) wrote and edited this.