This idea is probably going to set you back a few quid I admit it, but I think the long term forecast for this business will make up for that initial spending of money.
Internet radio has really never taken off big time and that's a shame because it has real potential.
The business idea here is, is to target small niche markets, profitable niche markets that could use an Internet radio station broadcast.
But here's the kicker and where the idea really takes off and will make you the most money.
Instead of just going after one niche market, you go after hundreds! For every niche market you create a couple of hours a week content for your radio station.
There are two ways this could work.1) You could run a live Internet radio station and tell people to tune in at certain times,
Or...2) You could create the online content and run it continually until you create more content.
This way the content would have a chance to be heard at anytime and your advertisers would get more bang for their buck.
If you don't have advertisers, register an easy to remember domain name and plug a few affiliate programs in there as well.