Coimbatore is the hub for textile businesses. There are many mills that produce products for international market. Apart from this, this city has many other ample business opportunities for various other fields. This city is the Manchester of South India and thus, your growth rate would be higher and so is the competition. Here are a few business opportunities for Coimbatore market settings.
Garment wholesale business
Investment – 50,000 to 3,00,000
ROI – 6 months to one year
This is a wide sector to invest. You can start any type of garment wholesale business. Your business model is to procure garments at very less cost and sell it with a profit margin. Starting from sheets to fashion attire, you can choose the type of inventory you want to stock. You can also choose your customers. You can either export it to other countries or sell to local customers.
Surplus and rejected garment business
Investment – 1, 00,000 to 2, 00,000
ROI – 1-2 years
There are a lot of mills in the city whose products get rejected due to small damages, delay in shipment or reduced quality. You can procure those products at a lower price and sell it to low level customers. Since the number of people who do unskilled jobs in mills is very high, those people would be ready to accept garment with small damages or reduced quality if the price is very less. To procure the right inventory, you need to have a good networking skill. You should have a network of various mills and warehouse to get information about surplus and rejected stocks in those companies.
Career development centre
Investment – 50,000 to 70,000
ROI – 6 months to 1 year
A lot of IT and BPO companies are blooming in this city. Many students want to enter the corporate world. Your business model is to attract those students to enrol in your career development centre. In this centre, you provide all kinds of managerial and communication skill trainings. A formal certification would increase the authenticity of the centre. You can also tie up with some companies to which you can send the top candidates for an interview.
Fertilizer and agricultural products retail store
Investment – 60,000 to 1, 00,000
ROI – less than 6 months
Coaching centre for exams
Investment – 20,000 to 40,000
ROI – 4 months to 6 months
There are many engineering colleges in Coimbatore. This increases the number of students who are about to take up any competitive examination for choosing colleges, for jobs and also for post graduation. You can start a coaching centre in which you can train students for various competitive examinations. An exam might contain different subjects and each subject needs a special instructor. Your initial expenses include salary for instructor, study materials, stationery, seating arrangements, area for rent and advertisement. The speed of business growth depends on the speed at which you acquire students.
Designing or embroidery services
Investment – 10,000 to 15,000
ROI – 2-3 months
Since you have a lot of resources to procure plain garments, you can start your own designing or embroidery service. The initial cost includes the cost of the equipments and raw materials. You can sell the designed garments to local retail stores or you can acquire projects from big companies for designing uniforms for their employees or for designing for their clients. As your business opportunities grow, you can hire help. Advertisement is must for growth. Initially focus on the local clients and then slowly try to acquire small business clients.
Investment – 50,000 to 70,000
ROI – 3-5 months
You can start a computer centre or internet cafe where you provide internet and other computer related services to customers. Your initial expenses include computers, internet connection, printing and scanning essentials and other hardware items. You can also provide other related services like resume writing, paying bills, gaming marathon and repair solutions. Analyze how your competitors are attracting customers. You need to add more value added services to increase your opportunities. Location matters a lot for business ideas related to this genre.
Unskilled labour recruitment firm
Investment – 15,000 to 20,000
ROI – 1 -2 years
There are a lot of portals for graduate candidates to search for jobs. What about companies who are looking for unskilled labour? If you are able to get hold of many unskilled labours, you can shortlist them and send to the companies. If the company select your candidate, you would get a commission. Since it is a commission based job, your growth speed depends on the type of projects your select and the efficiency of the selected candidates. You can also expand your business opportunities to skilled labour.
Real estate agent
Investment – less than 10,000
ROI – 3-4 years
Your business model is to connect buyers and sellers and get a commission from seller or from both the parties. Your networking skill is your asset for any agency related business ideas in Coimbatore. You should have information about the current sale properties and contact list of builders. If you are able to tie up with a builder, you can break even sooner. The growth depends on your networking skill and also on number of buyers you deal with per month. Since all that you need is a phone connection, internet connection and computer; the initial investment required is very less.
Investment – 1, 00,000 to 4, 00,000
ROI – 1-2 years
Coimbatore has a lot of tourism attractions and thus, this is one of the best business ideas. Those who plan to visit Ooty have to pass through Coimbatore. Thus, setting up a tourism service would be profitable. Your business model should include setting up hotel arrangements, travel arrangements and other services. Initial expenses include vehicle for transportation, recruiting human resource and infrastructure. You need to customize trips for your customers and thus you need to be aware of all tourism destinations and relevant information.
These are the top ten business ideas for this city. Coimbatore has numerous textile based businesses, tourism attractions and other important elements. These business ideas have focused on any one of those elements. Before you choose an idea as your business model, perform SWOT analysis and choose the idea that would be suitable for you. Take all factors of the market into consideration. Spot a need among your audience and device a plan to solve their problem. If your business has no scope of solving any particular problem, your business might not be successful. Not just these ten, any business idea that is tailor made for certain market would be successful if you insert dedication, hard work and patience.
Last but not least, all these business ideas are customized for Coimbatore. If you are planning to adapt these ideas for any other area, you need to tailor it to suit the new area. Remember that no matter which city you focus, you would always be challenged by competitors. You need to devise a new plan that would make you stand amidst your competitors.