"Things should be made as simple as possible, but not any simpler. "
- Albert Einstein
For many aspiring entrepreneurs today, coming up with new and innovative business ideas is becoming increasingly difficult thanks to the huge number of businesses that already exist in every industry. You might be wondering, which is the best business in India?
Believe it or not, there are some small businesses that might seem common but are still tremendously profitable. To help you out with some ideas, we have come up with a list of businesses that are not just profitable but are also a low-cost low investment. Each of these will cost you up to just Rs 10,000, no more.
Here are the 7 most profitable businesses in India :
The travel industry has witnessed a tremendous increase in the past decade in India. Due to rising disposable incomes, people’s global awareness and curiosity, travelling to foreign locations has very much become a trend. So this is the perfect time to start a small travel agency of your own. The most cost-effective measure is to have a home-based travel agency which will not only allow you to work at your own pace and convenience, but also help you save costs and earn higher commissions.
Breakfast joints in India are always brimming with customers, mainly students and workers on the go. Food as a basic necessity will never go out of the competitive market and this is why opening a small breakfast joint is a really lucrative business option in India. All you need to do is first get a permit from the respective authorities and then invest some money in renting a space for it. You will also have to set aside the rest of your budget for buying the required raw materials and groceries, as well as tables and chairs.
A tuition centre is another business option that is cost-effective and gives high profits, but you need to have enough knowledge about the subject you want to teach. Apart from this, the only effort you need to take is to advertise your home-based tuition centre, either through flyers or via social media.
Fruit Juice Kiosk
People are more health conscious now than they were a decade ago. And the trend of consuming healthy foods and fresh juices is going to continue. To own a fruit juice kiosk, you must first request for a permit to open the kiosk in your chosen area, which should be one that is hard to miss and hence will easily bring in customers. Then you’ll have to pay some rent for shop space.
Money for buying the raw materials, the juice machines and the salaries of the employee(s) making the juice are the only other investments you’ll have to make. While it may seem like a lot for a small fruit juice kiosk, these costs won’t add up to much and the profits will easily outdo the costs.
Traditional commercial bakeries are everywhere. But have you ever thought of opening an online bakery? Yes, this means selling your bakery products online. Since more and more consumers in India are opting for online shopping of clothes, gadgets and groceries, you can jump on the relatively unexplored area of an online bakery.
All you need to do for an online bakery is set up a user-friendly, navigable website which clearly lists all your bakery products along with their prices and a good order management and delivery system in place. With effective SEO, your website will slowly but surely gain more online traction and be able to reach your target audience, possibly giving you more customers than a physical bakery.
Starting a photography business from your home is one of the best, low cost yet most profitable businesses ever. Photographs are here to stay, be it printed or digital. As the travel and event sectors are growing day by day, along with the blogging and ‘influencer’ culture, freelance photographers are so much in demand.
In order to take up professional photography, you’ll need to invest in a good quality camera, along with the camera gears. To get new projects, you’ll also need to spend some time in building your profile online and post your work on your website and/or social media accounts.
In India, a majority of the people cannot do without their daily dose of steaming hot ‘chai’ or tea. For them, tea is a conversation starter and enabler, so you can guess how much money you can make by having your own little tea stall. You will only need to spend some money for renting the stall or the room space, buying tea from the manufacturers and some tables and chairs if needed. So far, the small tea stall owners in India have been reaping the benefits of their success, so opening a tea stall will never be a bad business idea. In fact, it might be the most profitable one.
While each one of these best businesses in India does have its own barriers and risks, what is entrepreneurship without any challenges? Remember, if there’s a will, there’s always a way.