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5 Ideas for a Business in the Service Sector

  • Highlights

  • The demand for convenient personal services is on the rise

  • Fitness training or housekeeping can be profitable

  • Consider meal delivery and specialised dry cleaning too

  • Use a business loan to grow your services enterprise

Today, the service sector contributes 57% to India’s GDP and is one of the primary drivers of growth for the economy. Within this sector, financial services, real estate and professional services contributed 20.5% to the GDP, whereas the community, social and personal services contributed 12.6%. With increase in purchasing power in India, there is tremendous opportunity in personal services. Make use of an easy online business loan to fund the working capital for your business
Here are the top 4 business ideas for the personal services sector.

Personal training services

A demanding work life and increase in lifestyle diseases has encouraged consumers to pay special attention their fitness needs. No wonder then that the fitness industry is expected to see a growth of 20-30% in the next few years. Practices like Aikido, yoga, kickboxing, cross-training, etc. 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 individual students.

You can either offer online personal training via a paid app for this purpose or offer lucrative training packages with the best personal trainers for 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 now becoming more common than before, and providing good housekeeping for homes can be a profitable business. You can offer all-rounders or specialised cleaners for sofas and carpets, household electronics, floors and kid’s rooms to create a niche. Offering competent services via hourly or monthly pricing models is sure to 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 the most on their consumption income on food, and working families and individual professionals find it hard to prepare healthy meals because of their hectic schedule. Since everyday restaurant delivery can be expensive, homemade food is the choice option for such consumers. You can thus 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. One differentiating factor that your food business can offer are customised food offerings suited to the body type and fitness goals of your consumer.

How To Get Small Business Finance From Bajaj Finserv

Dos and Don’ts when applying for a Business Loan

Business loans from Bajaj Finserv are designed specially to help growing businesses meet their financial requirements. Easy to apply for and hassle-free to avail, these loans come with several unique benefits that make them the ideal mode of business finance for small and medium sized enterprises. However, when applying for a business loan, there are certain dos and don’ts that you should keep in mind, in order to ensure that your application is processed smoothly. Here, we tell you what they are.

Dos and Don’ts when applying for a Business Loan

Dry cleaning services

Laundry businesses in India are seeing a lot of foreign players like Pressto who bring specialisation and prompt delivery into the mix. One thing you can consider is that professionals find it hard to devote time to supervise the cleaning of their shoes and accessories, yet their day-to-day lifestyle demands a spic and span wardrobe.Providing specialised dry-cleaning services like shoe cleaning, bag cleaning, etc.

clubbed with doorstep pick-up and drop of the items can translate into a lucrative business. You will need latest machinery for the 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.

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