5 Profitable Business Ideas in Spain

Spain is a dynamic country full of opportunities, offering endless possibilities for those looking to turn their business dreams into tangible realities. But where to start?

If you have just moved to Spain, you may want to take a look at our 5 tips on finance in Spain and our recommendations for opening a bank account. If you’re also thinking of starting a business, here are some of the most profitable startup ideas to inspire you to create your own business. Evaluate the best option for you, considering the different market niches, and start a new life.

Remitly has created this guide to help you in your entrepreneurial process in Spain.

Profitable business ideas: diversity and opportunities

With a booming economy and entrepreneurial culture, Spain is the right environment to develop an idea and start your own business. Statistics show a steady growth in the number of new companies in recent years, which reflects a favorable environment for entrepreneurs and has sparked new interest in buying shares in the country.

E-commerce: opening the doors to the digital world

In 2022, e-commerce in Spain exceeded 72 billion euros and is expected to continue growing at an annual rate of 10% in the coming years. It is a trend that has become a pandemic: currently, 75% of Spanish households are receptive to online shopping.

E-commerce is a good business idea for those looking to capitalize on this growing trend. This sector encompasses the sale of second-hand products, dropshipping on Amazon, or the creation of virtual stores with high-quality products of their own. The possibilities are endless in this area.

Freelancing: freedom and flexibility as a virtual assistant

Are you organized, communicative, and fluent in English and Spanish? Then becoming a freelance virtual assistant may be a good option for you. Efficient business management is essential to optimize the use of time, which has led to an increase in demand for virtual assistants.

The key is to identify your strengths, develop the necessary skills and take advantage of online platforms to connect with potential clients. Freelancing gives you the freedom to choose the projects that truly interest you, set your own schedule, and work from anywhere in the world. In addition, what starts as an individual project can eventually expand into a consulting firm.

Franchising: betting on a proven business model

For those looking to minimize risk when selecting business opportunities, franchising is an attractive solution. With a proven business model in major cities and the backing of a recognized brand, you can start your entrepreneurial journey with greater confidence.

From cleaning services to travel agencies, there is a franchise for every type of entrepreneur. Some of the most popular franchises in Spain are in the restaurant, fashion, service, personal care, leisure and entertainment industries.

Software development: technological innovation at your fingertips

Software development in Spain is booming thanks to business digitalization, the growth of e-commerce, Industry 4.0, and a dynamic entrepreneurial ecosystem. The explosion of demand in this area has created lucrative opportunities for developers in areas such as custom software, mobile applications, web development, or software consulting.

Specializing in specific niche markets is an effective strategy to differentiate yourself. With competitive salaries and a promising future, software development is becoming an attractive option for technology enthusiasts in the Spanish digital era.

Digital marketing and advertising: keys to success

Digital marketing has become an indispensable tool that allows the monetization of any business in Spain. With 90% of Spanish Internet users using social networks, they have become a great opportunity to create revenue through affiliate marketing, mentoring, and other avenues.

By 2028, Statista projects that digital advertising spend in Spain will exceed 14 billion euros. With extensive knowledge of SEO strategies and supported by a specialized team and artificial intelligence, marketing, content creation, and branding companies can reap great success in this field.

Learn more: Spain Relocation Guide: 8 things you need to know before moving to Spain

Lessons for business success

The road to business success is full of challenges and opportunities. There is no magic formula for success, but there are fundamental principles that will help you navigate this sea of possibilities:

  • Be passionate about your idea: your passion will be your engine to overcome obstacles and achieve your goals.
  • Know your market: who is your target audience, and what are their needs and preferences?
  • Plan and execute a defined strategy: establish a business plan with clear objectives and actions to achieve them. Be disciplined and flexible, adapting to market changes and your customers’ needs.
  • Be persistent and resilient: there will be times of uncertainty and challenges, but the key to success is to remain resilient and focused on your goals.
  • Take advantage of digital tools: this allows you to reach a global audience, promote your business, and manage your company efficiently in social networks and other digital media.

Whether from Barcelona, Madrid, or any other corner of Spain, businesses should also seek to have a positive impact on the world. Choose a business that allows you to bring value to society and bet on sustainability, showing concern for climate change. With passion, dedication, and a solid strategy, you can reach the pinnacle of business success.

Frequently Asked Questions (FAQ)

What is the most profitable business to start in Spain?

The most profitable businesses to invest in include technology and software development, e-commerce and online retail, health and wellness, education, and offering renewable energy solutions and green services.

What should I consider when choosing a profitable business in Spain today?

To ensure a profitable business in Spain, you should consider market demand, competition, initial investment required, and potential profitability. It is also important to choose a business that you are passionate about and in which you have skills and experience.

How feasible is it to sell second-hand clothes online abroad from Spain?

Selling second-hand clothes online abroad from Spain is a feasible business idea with great potential. The growing popularity of sustainable fashion and the rise of cross-border e-commerce have created a favorable environment for this type of entrepreneurship.

What are the most useful skills for entrepreneurship in Spain?

Specific skills will depend on the type of business, but in general, it is essential to have market knowledge, management, marketing, and sales skills. In addition to this, knowing English makes the path much easier.