15 best business ideas for software engineer in 2024

Top 15 business ideas for software engineers

Here are some creative and profitable business ideas for software engineers that you can start right away:

Blockchain tax/invoicing app

Blockchain startups and self-employed professionals save hours traditionally wasted organizing receipts, exporting bank reports, and manually inputting data across disconnected productivity tools repeatedly. Automatic integrations also enable frictionless payment receipt directly from reputable crypto wallets or traditional banking tied to unique invoice identifiers protecting privacy. Users classify business expenses easily with top tax programs supporting app connectivity enabling faster filing.

How much you can make: $100K – $1M annually
How much does it cost to start: $50K – $500K
How long does it take to build: 6-18 months

Hotel booking software

Hotel booking software involves developing and selling web and mobile applications enabling hotels, resorts, and vacation rental owners to effectively manage online reservations, conduct targeted marketing, process payments, communicate with guests, and run critical hospitality operations through integrated property management software without needing third-party booking intermediaries diminishing yields increasingly.

Direct-to-guest proprietary platforms empower independent properties and smaller chains to establish a branded presence online showcasing unique accommodations, amenities, and special offers directly to travelers without paying hefty commissions levied by dominant booking sites draining revenues over time jeopardizing quality and sustaining viability itself.

How much you can make: $100K – $1M annually
How much does it cost to start: $50K – $500K
How long does it take to build: 6-18 months

E-ticketing software

E-ticketing software involves developing and selling web and mobile app-based e-ticketing, access control, and attendance tracking solutions enabling organizations to sell event seats securely online and validate ticket-holder identities during ingress while capturing rich analytics before, during, and after gatherings utilizing scalable integrated systems instead of inefficient legacy paper processes prone to fraud and data gaps.

Solutions help operators mint NFT tickets living permanently on blockchains, scan access remotely through smartphones save on staffing, activate loyalty programs, integrate secondary marketplaces, and bundle promotional offerings that advanced traditional platforms lack.

How much you can make: $100K – $1M annually
How much does it cost to start: $50K – $500K
How long does it take to build: 6-18 months

Bike servicing app

It is a mobile app that connects bicycle owners to mechanics for repair and maintenance services. This would be a good business idea because there is a growing cycling community needing such services. However, finding a reliable mechanic nearby can be challenging. The app makes the process easier by enabling users to request services through the app and get quotes from vetted mechanics.

Once they select a provider, the mechanic can visit them at home or work to service their bike. This on-demand system brings convenience to users and steady business to mechanics. It serves an expanding market, harnessing technology to link service providers and customers. As urban areas promote eco-friendly transport options like biking, demand for such an app can be expected to rise.

How much you can make: $50K – $500K annually
How much does it cost to start: $10K – $100K
How long does it take to build: 3-12 months

Car parking app

The car parking app would be a mobile app to help drivers find and pay for available parking spots. This is a smart approach because parking is often scarce in cities, so an app that shows drivers where open spots are in real-time would save them time and frustration searching for parking.

The app would allow drivers to reserve and pre-pay for spaces as well, ensuring they have a spot waiting when they arrive. It would generate revenue by charging drivers small convenience fees per parking session while also paying lot owners to list spaces. This parking app concept has the potential to create value by making urban parking easier and reducing congestion from drivers circling for open spots. As more people move to cities, demand for parking solutions will likely continue rising.

How much you can make: $50K – $500K annually
How much does it cost to start: $10K – $100K
How long does it take to build: 3-12 months

App for railway tracking

It would be a mobile application for real-time train tracking and status updates. This could be a valuable business concept since public transport users often need clarification about train arrivals and departures. By providing details like a train’s current location, speed, next stops, and expected timing, the app helps improve daily commute predictability. It would source real-time data from rail operator feeds and combine these with user inputs about station conditions.

The app offers value by reducing frustrations over train delays and missed connections. It could earn revenues from in-app advertisements, premium features, and commissions from ticket bookings made via the app. As growing urban metro systems expand globally, innovations making public transport more user-friendly can serve an important need.

How much you can make: $100K – $1M annually
How much does it cost to start: $50K – $500K
How long does it take to build: 6-18 months

IoT security control

IoT security control is a service providing security solutions for Internet of Things (IoT) devices in homes and offices. The service helps users safeguard IoT ecosystems by applying customized protections like encryption, access controls, and activity monitoring across devices. As more appliances and systems link to the internet, vulnerabilities multiply rapidly. This IoT security offering would enable users to detect and respond to threats faster while having greater visibility and control.

It generates value by allowing consumers and businesses to leverage advanced IoT capabilities without sacrificing safety. Revenue models could include selling network hardware bundled with security software, or subscription-based access to specialized apps. With projections of over 20 billion connected devices in upcoming years, the need for specialized IoT security measures represents a significant opportunity.

How much you can make: $100K – $1M annually
How much does it cost to start: $50K – $500K
How long does it take to build: 6-18 months

CRM software

CRM software is a customer relationship management platform that helps companies track interactions and better understand customers. The software centralizes contact details, sales activity, marketing responses, and other engagement information so companies gain a unified view of each customer.

By logging all correspondence history with customers, the software enables employees to personalize future outreach and strengthen relationships. It creates value by helping align internal teams to optimize customer experiences. Revenue can come from monthly software subscription fees charged to businesses based on the number of users. As global competition increases across industries, the need for robust CRM tools that provide actionable insights across the customer journey will likely keep growing.

How much you can make: $100K – $1M annually
How much does it cost to start: $50K – $500K
How long does it take to build: 6-18 months

Invoicing software

Invoicing software would be an application for easily creating, sending, and managing invoices. The software simplifies invoice generation using customizable templates that integrate with accounting platforms. It allows quick invoicing directly to customer emails while tracking unpaid invoices. The software helps businesses by saving efforts on manual invoicing, speeding up collections, and providing payment visibility.

It generates value through improving cash flow and financial oversight for companies. Potential revenue models include subscription fees for enhanced software capabilities or transaction charges on bank payments processed through the platform. With global growth in independent professionals and digital payment adoption, demand for efficient invoicing solutions is likely to expand.

How much you can make: $100K – $1M annually
How much does it cost to start: $50K – $500K
How long does it take to build: 6-18 months

E-learning software

E-learning software would be an online education platform to help individuals or organizations create and sell courses. The software allows experts to easily outline course content, upload multimedia materials, and assess students on one platform. Learners can access courses online 24/7 to advance skills at their own pace. For enterprises, it facilitates affordable employee training and certification at scale.

The tool creates value by making specialized knowledge sharing more accessible while opening new earning avenues for educators. Revenue models could include charging course creators a percentage fee on sales, subscriptions for advanced authoring features, or platform licensing models for enterprises. As workforce re-skilling needs accelerate globally, e-learning innovations that make teaching and learning flexible, the market outlook remains strong.

How much you can make: $100K – $1M annually
How much does it cost to start: $50K – $500K
How long does it take to build: 6-18 months

Language learning app

A language learning app would be a mobile application for interactive language education. The app would make quality instruction available to anyone with a smartphone. It offers customized lessons in various languages that combine audio lessons, flashcards, games, and live practice with tutors. Users are assessed to focus learning on weaker areas.

Compared to traditional language classes, the app provides an affordable and convenient way to build fluency on the go. As global travel and intercultural exchanges increase demand for multilingual skills, this app idea targets a growing need. It monetizes through modest subscription fees or supplemental paid content while opening up language learning to wider student bases. With advances in speech recognition and adaptive teaching methodologies, engaging mobile solutions can democratize access to languages.

How much you can make: $50K – $500K annually
How much does it cost to start: $10K – $100K
How long does it take to build: 3-12 months

Video editing software

The tool helps content creators save substantial editing effort and time while optimizing videos for online sharing. Users also access a library of licensed media like b-roll footage or animations to enhance videos. It creates value by enabling anyone to produce compelling language videos faster. Revenue models may include subscription fees for full functionality or pay-per-use charges for asset libraries.

How much you can make: $100K – $1M annually
How much does it cost to start: $50K – $500K
How long does it take to build: 6-18 months

Medical software

Medical software would be a digital health platform enabling accurate diagnosis and treatment across language barriers. The software bridges the divide by providing real-time translation, text-based screening, and clear patient education materials in many languages. Users enter symptoms that the tool evaluates to recognize conditions, translate complex terminology, and explain options in simplistic ways. It creates access to quality healthcare by overcoming fluency gaps impeding informed consent.

The software could integrate with telehealth and hospital systems to scale impact. It generates value and revenues by charging subscription fees to health providers based on usage levels. As global migration rises, culturally responsive medical software that linguistically empowers diverse patient populations represents an important opportunity.

How much you can make: $100K – $1M annually
How much does it cost to start: $50K – $500K
How long does it take to build: 6-18 months

ERP software

ERP software would be an enterprise resource planning platform with embedded translation features. The software integrates functions like supply chain, accounting, and project management and ensures real-time multilingual information access across the company. With the built-in translation of data inputs and outputs, it enables seamless collaboration across country offices having different working languages.

Users also customize certain application modules or dashboards to display in preferred dialects only. By bridging linguistic divides within global teams, systems, and customers, the ERP software drives unified organizational workflows. It monetizes by charging licensing fees scaled to client size and modules deployed, earning revenues from efficiency gains produced. As cross-border business coordination grows more language-intensive, embedded software translation promises significant value.

How much you can make: $100K – $1M annually
How much does it cost to start: $50K – $500K
How long does it take to build: 6-18 months

Sentiment analysis system

A sentiment analysis system would be a software platform to evaluate opinions and emotions within online content. The system uses natural language processing to scan text, survey feedback, social posts, or chat messages. It then detects the overall sentiment as positive, negative, or neutral. Users also get granular data on what specific features or areas attract criticism or praise.

These linguistic insights help identify improvement areas amid masses of unstructured feedback data from diverse sources. The analysis is presented in user-friendly dashboards for informing strategy changes. Value comes from enabling data-driven decisions tuned closer to stakeholder expectations. Potential revenue models include subscription fees for analysis capabilities scaled by data volume. As digital opinion sharing expands globally, demand for automated sentiment mining continues rising across sectors.

How much you can make: $100K – $1M annually
How much does it cost to start: $50K – $500K
How long does it take to build: 6-18 months

Conclusion

Don’t be afraid to take risks, with your coding abilities, you have a valuable skill set that can help you turn your entrepreneurial dreams into a reality, for example, take a look at these successful engineering startups that were someone’s dream too but came up as reality now. So what are you waiting for? Start exploring these business ideas and take the first step towards becoming your own boss!