Booming Service Businesses in 2018: Get Creative Small Business Ideas
  • SUBSCRIBE
  • WHAT TOPICS ARE YOU INTERESTED IN?

    Step 1 of 3

    NEXT Skip

    HOW OFTEN WOULD YOU LIKE UPDATES ?

    Step 2 of 3

    EMAIL ID

    Step 3 of 3

Get The Latest Updates

SUBSCRIBE

Booming Service Businesses in 2018: Get Creative Small Business Ideas

  • Highlights

  • Service industry will experience pronounced growth in 2018

  • Outsourcing cleaning services is on a 30% rise

  • Delivery for e-commerce companies is an area to explore

Service sector businesses are the drivers of India’s economic growth. Today, this sector contributes around 57% to India’s GDP and employs 28.6% of India’s total population. This is largely because the customer base in India is also going through a big change with increased access to the Internet and digital channels. Services like housekeeping, travel planning, personal training, etc. are booming because of their unique personalised format. So, starting a business in this service sector is likely to be profitable, as customers are seeking custom-made solutions and efficient service providers to take care of their needs.

Take a look at some service businesses that promise growth in 2018.

1. Housekeeping and cleaning services

With a growth rate of 30%, India’s contract cleaning sector is growing exponentially. As an entrepreneur, you can expect demand from both offices and large commercial spaces including hotels and malls. Many urban dwellers also seek deep cleaning services for their home. A lack of time and growing disposable income has made this possible. Besides, setting up a business in this sphere allows you to be a part of a Rs.2,000-crore

market. Starting your own cleaning service with affordable packages, and using technologically advanced cleaning equipment will guarantee good profits.
Additional Read: Need Urgent Finance for Your Small Business? Choose a Bajaj Finserv Business Loan


2. Parcel delivery services

With an annual growth rate of 25%, the Indian parcel delivery market is estimated to be worth around Rs.4,000 crore. Besides, the e-commerce industry is all set to cross $100 billion by 2020. So, capitalise on the online shopping boom, establish your parcel delivery business and work as an ally for popular online shopping platforms. With ever-increasing orders, there is room for new players to claim a share of the pie. Good back-end tracking software, tried and tested systems, reliable on-ground staff and a strong customer care team can help you establish your firm as one that most online platforms prefer.

How To Get Small Business Finance From Bajaj Finserv

How to apply for a Bajaj Finserv 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, such as a Flexi loan facility that lets you borrow when you need, and prepay when you can. They require only a minimum of documentation to apply for, and come with easy eligibility criteria. Here, we tell you the step-by-step process to apply for a Bajaj Finserv Business Loan.

How to apply for a bajaj finserv business loan

3. Wedding planning services

Around 1 crore weddings happen in India every year. Currently, the industry is growing at 25%–30% annually and holds great potential for you as a businessperson. With destination weddings and pre- and post-wedding functions gaining importance, people need all the help that they can get to plan their wedding. With a team of experts on board, you can make this a reality. As long as you hire the right resources, market your business well and ensure that you have a strong online and offline presence, you

can grow your business in this area. To secure the necessary funds to achieve these objectives, you can rely on a business loan.

The growth of the services sector is a result of reforms happening at the domestic level, as well as changing mindset. Having a business in these areas will help you ride the growth wave and ensure profitability.

Business Loan Instant Approval

Please enter your first and last name
Please enter 10 digit mobile number
Please enter your address

Is your firm audited by CA

How would you rate this article

 Please let us know why?

What did you dislike?

What did you dislike?

What did you like?

What did you like?

What did you like?

Next up

PRODUCT GUIDANCE

How a Bajaj Finserv Flexi Business Loan Can Help Your Business Grow