Five ideas for a business in the service sector

The service sector contributes 57% to India’s GDP and is one of the primary drivers of growth for the economy today. Within this sector, financial services, real estate and professional services contributed 20.5% to the GDP, whereas community, social and personal services contributed 12.6%. With an increase in purchasing power in India, personal services have a tremendous opportunity. Use an easy online business loan to fund the working capital for your business.

Here are the top four business ideas for the personal services sector.

Personal training services

Demanding work life and an increase in lifestyle diseases have encouraged consumers to pay special attention to their fitness. The fitness industry is expected to see a 20 to 30% growth in the next few years. Practices like Aikido, yoga, kickboxing and cross-training are fast finding a way into the exercise regime of the health-conscious. There is a huge demand for specialised trainers who can create personalised programs for students.

You can either offer online personal training through a paid app or offer lucrative training packages with the best personal trainers in different localities in a city.

Housekeeping services

India’s contract cleaning industry is expected to grow at 30% per year, and this doesn’t just mean offices. Finding urban households where both parents work is very common now, and providing good housekeeping for homes can be a profitable business. To create a niche, you can offer all-rounders or specialised cleaners for sofas and carpets, electronics, floors, and children’s rooms. Offering competent services with hourly or monthly pricing models will get you, customers. You can also diversify into using your brand of cleaning equipment for further growth.

Additional read: When is the best time to get a business loan

Meal delivery services

Indians spend most of their consumption income on food. Working families and individual professionals find it hard to prepare healthy meals because of their hectic schedules. Since everyday restaurant delivery can be expensive, homemade food is the chosen option for such consumers. You can create a service business that links home cooks to the right clientele. You will need a team of delivery boys and a fleet of vehicles to set up this business. A differentiating factor that your food business can offer is customised offerings suited to your consumer’s fitness goals.

Dry cleaning services

Laundry businesses in India are seeing a lot of foreign players like Pressto, known for specialisation and prompt delivery. Professionals find it hard to devote time to cleaning their shoes and accessories, yet their day-to-day lifestyle demands a spic and span wardrobe. Providing specialised dry-cleaning services for shoes and bags, with doorstep pick-up and drop of the items, can be a lucrative business. You will need the latest machinery for cleaning and a good support team to attend to customer calls, fulfil pick-ups and drops, and maintain the register.

Follow a good business plan and financing strategy to give shape to a profitable business model in no time.