India is home to a massive prospect of successful businesses added up by the market size. Considering the market size, one can earn in attractive figures by serving to a huge population irrespective of business category. In such scenario, going on for own business may be favorable rather than finding a job. If commencing capital is the problem, there are plenty of businesses which don’t need much capital and still can be counted among good business ideas in India. The population benefit given by India is such that even a small business, which doesn’t necessarily need to be a unique one, can allow you to serve a big crowd. As such, that small business can also be counted as a good one in terms of income. On saying Good Business Ideas, one may presume that the business has a good income, maintains a proper goodwill and has some social obligations fulfilled. Keeping these major features in mind, here is a list of 10 good business ideas that you can look forward to for being established as a businessman:
Table of Contents
Investment: Rs 50,000- 70,000
ROI: 8 months
Sweets form a part of everyday meal for those who are addicted to it, and the population of such people is high in India. If not every day, people consume it very often. Above that, events and celebrations are incomplete without sweets. The South Asian culture of having some sweets before initiating any work or business makes it a must for the Indians. Nevertheless, India also witnesses plentiful of festivals. There is one thing common in voluminous festivals of different religions in India, and that is sweets. Guests enter houses with sweets, couples enjoy their dates with sweets and children celebrate their birthdays with sweets. This helps any person to start a sweets store with very less fear of failure. Above that, it is a business requiring a small area of operation and a small capital. You may grow big with several stores as branches at separate locations.
Investment: Rs 30,000- 40,000
ROI: 4 Months
Big organizations hire assistants to handle day to day works and make business operation efficient. However, small organizations may not be able to afford such assistants. And needless to say, the number of such organizations is high in India. In such scenario, you may serve as an assistant to more than one organizations by opening an office. You may also be positive towards lesser pay than that for the full-time assistant because you can compensate the deficit by serving plenty small organizations at once. This is not the toughest of tasks because all you need to do is fix meeting dates and places, arrange events, arrange travel for the managers, provide office inventories at the right time and so on. This requires proper skills and a good networking. Moreover, it requires a low investment.
Investment: Rs 40,000-Rs 70,000
ROI: 6-7 Months
Who would not be interested in games? Some may love video games or indoor games and others may love outdoor games. You can start your own business of gaming center and attract a lot of people ranging from children to adults. You can make the area look huge by providing for snooker, carrom, video games, virtual games, mental development games, bowling alley and so on. The number of varieties you provide depends upon the size of capital you can afford. However, you can start small with a limited variety and expand later on. This can be counted among good business ideas considering the fact that it can serve any age group people.
All in one store:
Investment- Rs 100,000- 150,000
ROI: 12-14 months
How easy would it be for us if we didn’t have to enter multiple stores for varieties of things we need daily. People would obviously find it encouraging to enter a single door and find things they use from morning to night. You can start your business with a store that serves every household purpose. You can also add grocery items to the list. You may want to fulfill some social responsibilities as well with special offers at festive seasons or other occasions and items of seasonal attractions. Having items that comprise the emerging fashion and trend in the market can help your business run smoothly.
Investment: Rs- 20,000-25,000
ROI: 2-3 months
If you have some good education, you can start your own business of home tuition. All it needs is some time for focusing upon the students. Your one or two students performing good is enough to aid for word of mouth advertisement of your business. One subject you are good at is what you need to start this business. In among the high population of students in India, you can easily find students who are in need of extra study guidance than that provided by their schools. On having enough networking, you can switch to your own tuition institute and start serving in a large scale. You may also want to hire some teachers and form your own big organization. And the best of it is, starting a home tuition doesn’t even need a reputed degree.
Investment: Rs 10,000-15,000
ROI: 2-3 Months
Yoga is turning into both hobby and fashion in India. You can start a yoga class and make people gather every morning or evening for learning yoga. This is among those good business ideas which can be implemented even with only the resources you possess and with almost no fresh capital requirements. If you have a spare room in your house, it is more than enough to start this business in a small scale. With increasing clients, you can increase your services and area of operation. Helping people remain fit and healthy and making them meet others and develop friendship is in itself an act of social kindness.
Investment: Rs 50,000-70,000
ROI: 12-13 months
India is home to a number of renowned writers and those who want to enter this profession. Bigger is the population of those who have a hobby of reading articles, magazines, novels and books. Starting a bookstore can be among good business ideas in a place which is rising as a developing country and is giving optimum focus to literacy rate. You can keep varieties of books written by domestic or foreign writers. You may also want to keep books in your store targeting the age groups. You can make publicity of this business also by having a proper networking with schools and universities.
Fast food store:
Investment: Rs 40,000- 50,000
ROI: 4-5 months
Indians are well known for their spicy food. Almost every tribe and society loves spice in their foods. In such scenario, you can open fast food stores targeting some densely populated areas. The majority of the commonly consumed fast food in India are of spicy nature. A flavor of pickle adds up to the taste of those people. A fast food store can serve hundreds of people per day. This reduces your payback period of investment to just a few months. This business requires a little investment and can give a big return depending on the deliciousness of the variety provided by you.
Human Resource Provider:
Investment: Rs 20,000- 30,000
ROI: 4-5 Months
Large manufacturing organizations need a proper composition of laborers with other highly skilled manpower. Organizations have a trend of announcing vacancies for posts with separate offices and department. However, appointment of voluminous laborers is never easy for them. As such, you can start your business of providing the human resource. You may also have networking with job seekers and providers for higher level jobs as well. You can make this business count by working for the clients at a cost lower than what they had to incur if they managed the human resource themselves.
Investment: Rs 30,000- 40,000
ROI: 4-5 Months
Not all businessman have the perfect knowledge of the proper investment or the best ways of procurement of funds. If you have a good knowledge of the corporate sector and financial effects, you can use it to start your business as a budgeting manager. All you need to do is provide consultancy service to your clients regarding finance. This is among the good business ideas also because finding a single big client can help you accelerate in a multiplied rate. You may also help them in their decisions of capital structure and investment in securities. Make your knowledge of the corporate sector count.
These are ten Good Business Ideas in India which you can follow to start as a businessman. However, there are plenty of other options as well and moreover, the success of your business doesn’t depend on whether it falls in this list or not but heavily on how well you execute your business skills. Every business needs a big commitment of effort, dedication to work and passion in the way you do the work. The biggest benefit India provides you for your business is the size of the population and the variety of choices in the population. Adding a simple but unique flavor can help your business flourish very fast and outweigh other similar businesses.