Okay, having provided a detailed analysis of the legal requirements, market feasibility and every other thing it takes to start a business in India and a series of industry-specific sample business plan templates; here is an in-depth analysis of the top 50 best small business ideas in India. So put on your entrepreneurial hat and let’s proceed.
Starting any business cannot be considered as a light-hearted affair, as it is something to be taken seriously, especially in India that is plagued by many uncertainties such as high tax rate, bribery and corruption, and a long and tedious registration process.
11 Facts and Figures of India that Will Interest You as an Investor/Entrepreneur
India has been touted to become the third-largest economy of the world by 2030 due to the fact that India possesses democracy, demography, as well as demand. India also has the world’s largest population of youth; these are various reasons why India is the place to be for businesses. Here are some good facts and figures for you;
- In terms of Gross Domestic Product (GDP), India is the seventh largest, while it takes the third position in terms of Purchasing Power Parity (PPP)
- India is one of the fastest growing economies in the world.
- India has become the leading center for disruptive innovation as well as cutting edge technology.
- Out of all Southern Asian economies, India is the best as regards getting credit. It also ranks 23rd in the world, according to the World Bank as well as the International Finance Corporation.
- India’s economic liberation provides investors with more access to its vast and varied market.
However, the teeming population especially that of the youth is a strong reason to do business in India. Here are some very lucrative business ideas to look at;
50 Best Upcoming Small Business ideas in India With Low Investment for 2018
Temping Services: This sort of business requires that you provide event management firms with manpower services on a temporary basis. This could even extend to the film industry. Not everyone in the industry has the time to source for temporary manpower services, and this is where your business comes in. You would have to be skilled at networking so as to be able to handle clients.
Private Tuitions: This is a lucrative business idea that can give you good income. You could offer your services to homes in the neighborhood, and while you can choose to take a student individually, you can also take them in large groups as well. You would need to be knowledgeable in the subjects you intend to teach.
Shoe-wash business: Earlier in the days people cleaned their canvas shoes with detergent and toothbrushes; however people now own trendy sneakers. This is a good business for any serious entrepreneur. In order to be successful, you will need to know how to use chemicals, and also ensure that you have great marketing skills as well.
Food Delivery Service: Any service that brings convenience to the client is always in high demand. Most people do not want to leave where they are probably due to varying circumstance – work, personal – to get food, and so they’d prefer to have it delivered to them. This is where your food delivery business comes in handy.
Provision of School Uniforms: Even though you might not be good at sewing, you can still make money from this business. You would need to be persuasive, have good marketing skills, and also make it so easy that schools would prefer to come to you rather than going to the manufacturers themselves. You would also need to have a link with a good manufacturer as well.
Property Management: For this business, you would need adequate sales and marketing skills for you to be successful, but this is a good business opportunity. You must also be adept at handling a lot of paperwork, as you would be in charge of managing property for your clients.
Wedding Planning Business: Wedding ceremonies in India are always on a grand scale, and most times those involved do not have the time or the energy to plan and take care of every detail themselves. This is where you come in as a wedding planner. However, this kind of business requires that you are creative, and also have contacts with reliable suppliers and vendors of wedding items.
Real Estate Consultant: If you have good knowledge of an area and the properties in that area, then you can start off this business. You would charge a consultancy for your consulting services, after the deal has been finalized by the customer.
Book Store: This is a good idea that can include sales of stationeries, school books or general books. To get good money from this business you would need to be innovative about your services, and possess good sales skills.
Housekeeping Services for Hotels: This is a good business opportunity that affords you the opportunity of helping hotels keep their rooms clean. You can offer your business to several hotels at once, thereby making more money for yourself. You would need to be skilled at marketing and have persuasive skills as well.
Kirana/Grocery Delivery Business: A grocery delivery business is a lucrative opportunity that can fetch you a good sum of money. You could help clients deliver groceries for a fee. This is a unique business that will ensure you attract clients to patronize your service.
Pre-recruitment Assessment Business: Companies always want to hire the best employees but might not have the time to select that which bests suit the company. You can help bridge this gap by starting a business that allows company pay for you to help them select the best candidate by helping evaluate the employees and selecting only the best for the company.
Custom-made Chocolate: Chocolate is a treat that almost everyone loves. You would need to ensure that the quality is up to food standard and might be required to get a permit for this kind of business. However, if you are a lover of chocolate with a mean business acumen, you would be making money in no time, as you could try on different recipes.
Bus Service Website: A bus service website is a good business opportunity if you know the intercity and interstate bus routes very well. Your website could provide information that pertains to the rate of tickets and also the channels by which they can be booked. You would need to have good IT skills for this kind of business.
Custom-made Festival Gifts: If you have a good eye for picking out gifts and wrapping them in an attractive manner, then this is the business for you. You could choose a festival period and choose innovative gifts that are sensitive and creative, and would create a meaningful impact with your client. You would need to have a good knowledge of the where you can get the best gift makers in town.
Online Ads Service Business: This kind of business is suitable for those who have the contacts of website owners and can also get the appropriate space that can help clients be able to access their target audience. You would need to have a good knowledge on networking as well as media planning so as to be successful in this kind of business.
Phone-based Business Consulting Service: With this kind of business you can work comfortably from home. To be able to ensure businesses consult with you and pay for your services, networking is integral as you would need satisfied clients to refer you to their friends and other business colleagues.
Mobile Food Court: People are now too busy and very few take the time out to cook their own food or patronize a restaurant. Your food court solves the problem for most people, as it brings the food to them. You would need to stock up on food that most people are likely to eat, and stay in locations that have a high amount of traffic.
Insurance Agency: Being an insurance agent would require you to have good persuasive skills so that clients could pay for a coverage which would then earn you a commission. This is a business that you can do in your spare time, guaranteed to bring in cash with no stress.
Ice Cream Business: Ice creams are no longer a seasonal treat and so if you want to go into this kind of business you absolutely can. Your ice cream store would need to have different flavors so as to cater to those who want something different. Also, you can come out with unique recipes as a way of attracting clients.
SEO Consultant: Several blogs and websites get created every day, and usually require someone to help market the blog and also improve on its visibility. This is where you come in.
Yoga Instructor: Yoga is a good form of making money as not everyone does it correctly. You can become a Yoga instructor and instruct people.
Jewelry Maker: You can go into this business if you love jewelries and are looking for an opportunity to turn your love into a business. You would need to get trained before starting this business.
Clothing Business: The clothing business is a nice business opportunity that would always ensure that you have cash especially as people must always wear clothes. If you become known for selling good clothes you might not only attract but retain clients as well.
Poultry Business: Everyday people not only take chicken but also its byproducts, such as egg. Eggs can be ingested or used as a beauty product. Poultry business is a guaranteed money spinner but you would need a permit to rear commercially.
Ceramics Business: If you are into crafting of ceramics and enjoy it as a hobby, it might be time for you to turn that hobby into a business. The good thing about this kind of business is that you can work from home and at your convenience.
Sports Products Manufacturing Business: Sports is a very lucrative business which is guaranteed to make anyone going into such kind of business a millionaire, this is because everyone is either into or love watching one sport activity or the other. Those that are into sports would need to acquire sport products, while those who love watching might acquire sport products of those they love watching so as to identify with them.
Leather Manufacturing Business: Leather is used for shoes, bags, chairs and such other stuffs. To start this business you would need accuracy and an eye for detail, as your clients would know you only through the kind of leather they get from you.
Glass Products Manufacturing Business: You can go into this business and produce a wide range of glass products. You can either start in a niche or produce several products. However, you would need to know what your target clients prefer and produce your glass accordingly.
Wood Products: The wood industry is a very important one as most furniture is still made of wood, from baby cot to office desks and so on. In starting this business, you would need to be very crafty with your hands and also know what might excite your clients. The wood product business is one that will fetch you huge money if you know your onions.
Paper Cup Manufacturing Business: Paper cups are usually disposable cups that are made of paper and lined with plastic so that liquids do not soak the paper. These products are becoming more and more popular because they are not only eco-friendly but also limit exposure to food infections. Starting this business is a sure-hit as paper cups are used in companies, food canteens, educational institutions, coffee shops, fast foods and super markets.
Handicrafts Business: If you are good with your hands as regards crafting, then it is high time you turn it into a business making venture. You might need to attend some training so you could learn special tricks to use to bring out your creativity, and also how to sharpen your business skills.
Food Products Business: If you have extraordinary cooking talent or a special recipe that you feel others need to know about, then you should start thinking of developing a line of food products. You would need to be good at sales and marketing and also have a very high acumen for business.
Freelance Writing Business: If you are good in writing and thinking of a business to engage in, you could become a freelance writer. You could even choose a niche to write on, and can decide to write for a magazine, newspaper or a website. There is no limit to the amount of jobs you can tackle as a freelance writer.
Online Book Store: If you love books and do not have the space to open a store and sell books, you can decide to sell books online. This way your clients pay for a book and you deliver it to their doorstep or a location of their choice. This is a lucrative business especially if you go into selling online books as well.
Web Designing: If you know how to code and design websites them this is a good business opportunity for you, especially as more and more businesses are seeing the need to ensure that their company has a website.
Investment Advisor: To work as an investment advisor, you would need to thoroughly understand the investment market and options such as stocks, bonds, mutual funds, IPO; as clients will need to trust in your sound judgment.
Mutual Fund Agent: To become a mutual fund agent, you would need to be certified before you can start promoting mutual fund schemes. You make money by earning commissions, and so you will really need to have persuasive skills.
Nutritionist: Everyone is now concerned about what they eat and when they should eat it. If you have a good knowledge about food and its nutrients, you could start giving advice to people and also giving them health tips as well. This is sure to bring in some cash for you.
Resume Writing: Not everyone knows how to write a resume that would get them a job, and so if you are proficient in this field, you could write resumes professionally for people and get paid.
Painter: Every once in a while, people look to give their residential or official places a make-over, and so they consult one who can paint. If you are a skilled painter, your job will attract a number of clients in no time and will see you earning good money.
Used Car Dealership: This is another lucrative business in India as not everyone can afford a new car for themselves. Starting a used car dealership will see a lot of clients patronizing your business.
Car Driving School: You would need to pick an area where the majority of the people do not know how to drive, and want to learn. Once you can identify such a place, watch your cash rolling in.
Security Agency: People would always require the services of a security agency and most time prefer to contract out the services to others. You can start a security agency where you would provide security guards to schools, offices and apartments. You would need to find out extra permits and licenses that you might need for this business.
Career Guidance: A career guide helps people by advising them on the careers that might suit them for a fee. This is not only a rewarding business but a lucrative one as well. Your success rate with clients will bring in some more clients for you as they will help in referrals.
Games Store: Young people are always looking for a place where they can play games; you could open a game center and charge a fair rate for people to play games. You can start with one X-box and then expand as the business moves. However, you would need to be innovative in this business, as routine can quickly bring down your business if you aren’t careful.
Beauty & Spa: A Beauty and Spa will always be patronized as there are people always seeking beauty treatment. You would need to offer quality services as well as be knowledgeable about different spa and beauty treatments.
Matrimony Services: If you are good in helping people out with their relationships, you can open a matrimonial service that will offer advises to couples in a relationship for a fee.
Used Furniture Sale Business: Many people want to get some furniture like sofa, television etc for themselves but cannot afford the new ones. You could also become known by those who wish to dispossess their good old furniture for a fee, thereby serving two sets of clients.
Fashion Boutique: If you’ve got a good fashion sense then you could totally start a fashion boutique. You would need to stock only stuffs of high quality so that people can patronize you. You can succeed in this kind of business if you carve out a particular niche for yourself, this would ensure that clients know you for that niche.