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Business segments that saw major growth this year
Learn about doorstep repair and child-oriented business ideas
Learn about Lifestyle goods rental and B2B service ideas
Setting out to establish your own small business has never been easier. The allure of being able to do whatever you wish, in the field of your choice, is driving millions of entrepreneurs to set up a business of their own. In light of this, it is important to identify the best areas for small businesses to thrive and grow.
Here are some of the best business ideas in India for starting a small business:
Car and bike users are forced to visit expensive service centres and wait for days to get their vehicle fixed. However, this practice is soon changing with doorstep repair services.
If you are a skilled mechanic, you can start a mobile auto repair business with a few simple tools at first, and then investing in specialised equipment.
Advertise online by taking a business loan to offset marketing costs and use a smartphone app to approach customers within a specific radius.
Tiffin service is one of the fastest growing businesses in urban and semi-urban India. Delivery of meals at workplaces as well as to residences has seen an increase in demand due to the convenience it offers, especially to working individuals. Initial investment required is also quite less, which makes tiffin service one among numerous the good business ideas in India.
Aspiring entrepreneurs can thus cash in on this opportunity and give shape to their business idea. Providing fresh, home-cooked, wholesome meals thus by far remains among the top few business ideas in India.
Most of us use multiple electronic devices at home and work. Even a slight issue in the functioning of an everyday gadget, such as a cell phone, causes a major inconvenience. Instead of having to visit an electronics shop, it would be much more convenient to receive help right at the doorstep. If you have a degree in electronics and technology, you can provide door-to-door electronics repair services.
Additional Read: Business Ideas For Women in India
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The advent of the internet has opened up several business opportunities, blogging being one of them. Initially used for recreational and informative purposes, blogging has of late emerged as a lucrative new business idea.
You can choose your own fields of interest and expertise to start blogging and generate income via affiliate marketing, sponsored blogging, etc. You can start your own blogging business with a small investment amount. The business idea brings significant earning opportunities over time.
A growing number of parents in India are realising the importance of all-round development for their children that schools alone are unable to provide. There is also a growing need for specialised coaching to help children excel in academics. If you are an expert on any subject or skill, leverage your knowledge to set up a successful business holding private classes in subjects such as self-learning, drama and speech or even water colour painting.
If you are looking for the best business ideas with low investment, pet care service is ideal to start with. Pet owners take special care to ensure their pets receive the right care and treatment while they are away.
They thus look for professionals who can take care of their pets while they are travelling.
Pet care service is thus a potential opportunity where you can tap in to generate income. If you are a pet lover, it couldn’t get better than opening a pet care service. The initial investment required is also minimal, thus making it easy to start and operate.
If you’re interested in creating teaching aids, mobile apps are a good avenue for you. You must have expertise in the subject matter and can either outsource the technical development or do it yourself. Apps related to general knowledge, mathematics and overall development are highly sought after, and can help you create a substantial business.
Additional Read: How Digital Business Owners Can Find Success
Bakery products are in huge demand today, thanks to the happiness they add to celebrations. From cookies and muffins to cakes and other bakery products, you can start with your own bakery business with minimal investment and start generating considerable revenues.
Among the best business ideas in India, bakery has an immense potential for growth and expansion. As the market is trending towards first-hand bakery products at affordable prices, a home-grown bakery has a golden chance to be an instant hit with the clients.
There is a growing business trend to rent clothing and accessories at much lower rates as compared to their original prices. If you are excited by fashion, you can establish a renting service and turn it into a lucrative business. Use social media to advertise your offerings and set competitive prices to attract millennials.
Additional Read: How To Start a Clothing Boutique
With the increasing consciousness towards personal security, CCTV and surveillance is increasingly becoming one of the most profitable business ideas in India. Surveillance solutions offer improved security along with counter-measures against theft or similar incidents at residential and professional dwellings.
With more people opting for personalised CCTV surveillance systems, the demand for such advanced technology is on the rise. Although initiating such a business of offering holistic security solutions requires considerable investment, it is a highly profitable venture.
As people move all across the country for short-term projects and jobs, they require furniture at home and at the workplace to feel more comfortable. However, they don’t want the hassle and expense of buying new furniture. You can tap into this mind set by providing tables, chairs, PCs, printers, couches, TVs, ACs, etc., on rent. You can tie up with tempo services and seasonal labour to shift furniture when required and gain on using the same inventory over and over. If you run short on inventory, you can always take a working capital loan to boost your inventory during busy periods.
Laptops and computers have become an essential part of an individual’s daily requirements, be it for work, education or recreational purposes. Today, there is an upcoming parallel market for used laptops and computers with decent configurations available at low prices. The demand for these products is high and expected to remain so for some time.
Starting a dealership for the sale and purchase of such products creates attractive earning avenues, thus making it a good business idea in India. Tapping into this huge market by modifying used laptops and computers, and selling them does not require hefty investments. Resultantly, the business is considered as a highly profitable one.
How To Get Small Business Finance From Bajaj Finserv
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.
If you are well versed in a particular industry or subject, you can become an independent consultant and create quite a customer base. You can speak at events and conferences, provide strategic solutions on a contractual basis or serve as an advisor. This may be in fields as diverse as education overseas, expat coaching or investment.
Additional Read: Trading Business Ideas
Air conditioners have become a necessity for most workplaces as well as households. Maintenance and repair of ACs for proper functioning are just as important considering the increasing number of users and the extensive usage.
Setting up a small venture that provides AC repairing and services is among the best business ideas. It offers high profitability and stable returns if annual maintenance contracts for AC repairs for workplaces or residential complexes are acquired. You can set up the business with a small investment to acquire necessary equipment and skilled workforce.
Efficient money management is a vital part of all businesses. However, most people need help with keeping their finances in order. If you have a background in finance, accounting, or bookkeeping, you can run a very successful business that offers financial solutions to SMEs and single-person businesses.
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