Most people have an idea of starting a business, but some of the people don’t have a proper approach and go in the wrong direction to start a new business. This article discusses the top 50 business ideas. I think it is easy to choose a great view from this list.
1: EKART SERVICES
Ekart and e-commercial services have picked up a significant pace during the past few years. Amazon is the leading company in this category. CEO of Amazon, Jeff Bezos, started this company in a small garage, and after a long time and hard work, he became the world’s richest person.
Amazon started its services with books, later expanded to many fields ranging from daily commodities to electrical appliances. Recently, Amazon started to sell pantry items. Many websites followed the same principle and became successful within no time. Many companies are launched in India like Flipkart, SnapDeal, and became successful within no time. These e-commercial websites helped many people to save their time.
PharmEasy is an online medical store that helps you to get your medicines at your doorstep. PharmEasy provides many offers and discounts to its customers.
BigBasket started delivering fresh fruits and vegetables and gained massive recognition within no time. BigBasket provides various options and good quality stuff to its customers.
Other than these websites, many companies deliver cool and quality stuff at your doorstep. Some companies send you beautiful flowers to your loved ones, while some companies like Myntra help you to choose a suitable outfit for various companies. Lenskart helps you to select stunning spectacles by helping you with its fantastic hologram feature.
Currently, the online food business is picking up a high pace in the market. Some companies like Zomato and Swiggy started their bases in some of the metropolitan cities of India. Now they have gained enormous profits for their company.
2: RESTAURANTS
Irrespective of the season, the food business always has its demand and profits. A restaurant is an excellent place for a family or friends to visit during a weekend. However, one must plan their business carefully, or it may lose the name within a few months or sometimes after a couple of days.
You need an appealing name and logo to attract customers to your place. So, choose a wise name and eye-catching logo to drive the traffic to your hotel.
Every restaurant has a unique concept for its place. Some food courts tend to attract couples while some hotels pleasantly make their surroundings to give an excellent place for a family.
The menu card is a vital thing for the food stall. Your menu card must include the full price versions of the food items. Some hotels have a habit of excluding the taxes on their menu card. This habit leaves a wrong impression for your customers when they have to pay the bill. So, I believe it is proper etiquette to include tax prices on your menu card.
You can increase your sales by opening many branches across your city and your state. Reputed food companies like KFC, Dominos followed these principles to expand their business. Now everyone knows that these reputed restaurants have food chains almost across the globe. So, follow these steps to start a hotel or to expand your business.
3: TRANSPORTATION
Though there are many public transport facilities, there is always significant for private transport. One can start an online cab service like UBER. UBER began its function in one of the metropolitan cities of America known as California, and now the services have expanded across 785 metropolitan cities. An interesting fact is that the Californian government declared UBER as public transport.
Currently, some people started a bike taxi. The word may sound strange, but they offer a fantastic service. Recently, a team started a bike taxi called Rapido and achieved a great name and fame within no time. They charge a nominal fee for the destination, and they reach the destination faster than a car, and many people you know to ride a bike have got a job.
In metropolitan cities like Chennai, Hyderabad, you must need a vehicle for every single necessity. Some people may not afford a car and may approach a bike rental or a car rental. You may think it is expensive to buy many bikes. But, you may contact the bike owners having a new vehicle. You can pay the commission to the vehicle owners for using their cars. You must maintain proper precautions before lending the car to a customer by gathering his/her details and making an appropriate deposit.
Similarly, you can also start a car rental service. Many couples have a dream to go for a long drive but cannot afford a car. So you can be a bridge for many couples to achieve their goal and enjoy some beautiful moments in their lives.
4: TOURISM
I believe no one on this planet wouldn’t love to visit new places during their vacation. Tourism has considerable demand around the market. Many tourism websites have come up during the last couple of years. Many travel and tourism organizations like southern travels, make my trip have gained immense recognition among the public during these days.
Tourism not only includes building a website. It also includes many other things like travel, hotels, and sightseeing, etc. People expect a lot of things when they visit a place. So, you can start a business to make the environment better. For example, if your city has a beach, you can begin a boating service. There are various options available under boating. You can buy a couple boat for love birds. You can start a speed boat for young people because many people are fascinated with this feature.
A pleasant and comfortable stay is equally important as other things. Everyone is planning to start a hotel or a restaurant in densely populated areas. Starting a hotel or a restaurant in these areas will fetch you the right amount of money in that area. You can serve many styles of dishes that attract various sectors of people like Chinese, Italian, etc. One can also start a resort at a beach, and there is no need for people to check for another place.
5: PHARMACY
The pharmaceutical industry is in considerable demand always. One can start a medical shop with an eligible medical degree. One can earn a substantial amount of money when you start a medical shop in the right place. Nowadays, people started expanding their business through online platforms. One such company is PharmEasy. PharmEasy delivers medicines and surgical kits at your doorstep for nominal charges.
There is a company called CallHealth that helps many people get their tests done at their home itself. CallHealth conducts many health tests for its customers. This company takes two days to send the test reports. You can receive the soft copy of the report, or you can also take a hard copy.
Call Health also offers an online appointment with qualified doctors in the city. So, you can take the doctor’s advice without actually stepping out of your house.
One can expand their medical stores by opening many branches across the city. There is a company called Seven Hills. This company started a base in one place and eventually expanded its stores to many locations across the city. Currently, this company has around 10-15 branches in my town. If you have a large building, you can give that building for a hospital on rent or lease. You can also earn a considerable amount in this manner. In this field, you must provide better prices to make customers buy the stuff from you. I also believe that one can succeed by maintaining low overhead and operating costs.
6:ONLINE TUTORIALS AND CLASSES
When you have an excellent command of a particular subject, you can start sharing your knowledge with others. Due to the features of online, one can share their expertise with anyone across the world. You can start this business in your expertise field, and you can expand your online platform to many other subjects.
Coursera is one of the leading platforms providing quality knowledge to the students. Many universities uploaded their video lectures on this popular website. One can pursue the desired course with a certificate of the reputed and recognized university. Coursera also provides financial aid to eligible students. One can submit an online application by giving your necessary details. You have to answer questions like “Explain your economic status?” and “What is the purpose of taking this course from our website?” Coursera takes 15 days to analyze the application.
You can also take a degree course for two or three years by paying the prescribed amount. Like Coursera, you can start a website by expanding the field of study. Another site similar to Coursera is Udemy. When it comes to Coursera, only institutions can upload video lectures. But an individual can upload their videos on Udemy.
So why are you waiting? It doesn’t require a high amount to start a website. You can shoot video lectures by using a basic software version. Though it takes some time to get going through this website, you can earn a considerable amount when many students start learning courses from your website.
7: STORAGE UNITS
Every product based company or business requires a lot of space to store its products for a long time. You can be their helping hand by establishing godowns with plenty of light and air. Though this business requires a high amount of capital and labour during the initial stages, I think you gain those returns within no time. Make sure that your godown or storage unit is accessible to the people.
One can modify their storage unit to cold storage that helps many farmers to store their crops during odd seasons. Make sure that you maintain appropriate precautions while building the cold storage unit as they have many chances to be prone to short circuits. Some surveys have reported that within a few years, the demand for godowns increases to 300%. So take a wise decision before you ignore this fantastic opportunity to build a storage unit.
8: TEXTILES
The textile industry is considered as one of the active sectors in recent times. There are various sectors in the textile industry. There are two types of textile businesses, one that includes chains of stores selling all sorts of fabrics and the other that provides for small stores that sell only a few, particular types of materials. You must have a good idea before stepping into the textile sector as it deals with many fields like ginning, spinning, etc.
If you are about to start a textile printing business, you must look for vendors who can supply excellent raw material for you. You also need famous designers to get the work done amazingly. I believe Latex is used in textile printing. So, do proper research to find a good quality of research. In this textile business, you must outwit your competitors by attracting more customers to you.
Transportation also plays a vital role in the textile industry. If you are about to start spinning or a ginning sector, you must include the transportation cost to import and export the products to and from your company. It is expensive to set up a spinning and ginning industry. So plan your expenses and prepare your industry.
If you are facing any financial problems to start an industry, you can begin a textile shop as a tailor to stitch the dressing materials at an affordable cost. It is essential to choose a good and crowded location so that many people can visit your shop.
9: NOTEBOOK MANUFACTURER
In this era of the digital world, many people are interested in using the traditional way. You can start this business either by using machines or by employing people to manufacture the books with hand. If you have enough money, you can buy tools to increase productivity. One can produce up to 65000 books per year.
If you are planning to use machines to increase your productivity, you have to spend around 5 lakh to purchase the complete equipment. The expensive equipment helps you to automate every process. Another set costs around 1 lakh, but the process is not automated. Human resources are required to manage these resources. You must need an excellent space to purchase manufactured books. Mostly, people require books during the starting of a new academic year. But you have to make books all year long. So, please include the cost of managing the storage unit to manage your resources.
One must know many things before starting a notebook manufacturing company. One must be aware of raw materials and also the price of every element, such as the cost of paper costs around 62Rs per kg. You can make more than five notebooks with one kg of paper. The cardboard used for the cover is 1 rupee per piece.
After manufacturing, you can either start a wholesale counter or a retail counter to start earning. I suggest you begin both wholesale and retail shelves so that you can receive a considerable amount within a few days.
10: FURNITURE:
Many people are interested in decorating their houses and workplace with fantastic furniture. There are many ways and opportunities to start a furniture hub or a store. Let us look at the various options:
1: Dealership: This is a wise option to start a new furniture store without any prior experience. In this method, you can approach a company, and you must explain about the facilities you provide. You can open a store in a busy area where you can start selling the company’s products. Some companies pay you for all the expenses of maintaining the workplace, and they also give you a handsome commission for selling their products. So, this option requires little investment and sometimes no investment. I believe it is a better choice for many people.
2: Small-Scale Industry: This step is quite riskier than the previous ones. I advise you to take this step once you gained enough experience through the dealership. You can hire workers to make beautiful furniture for you. In this way, you can sell the product without giving any commission to anyone, and you can be a person providing jobs to many woodworkers. This step requires a piece of significant knowledge about various raw materials like teak, plywood, etc.
3: Large Scale Industry: Once you have gained enough profits through a dealership and small-scale industries, you can go to establishing a large-scale company. You need a considerable amount of money to start a massive company. To face the competition, one must increase productivity and quality by using various machines. Do not forget to include the transportation cost before starting a company. This step can help you to presume the price to launch a large-scale industry.
Currently, many companies started to expand their sales through online platforms like Amazon, Flipkart, etc. You can use these platforms to increase your sales. There is a website called Furlenco that provides furniture on a rent basis, and many companies have gained huge profits through this platform. Think before you take a wise step.
11: INTERIOR DESIGN
No matter how beautiful the furniture is, it will be incomplete if there is no fantastic interior design. There are several ways to start a counter to offer beautiful interior design to clients. One can open a store that provides various materials to interior designers. For example, some people are fascinated to have woodwork in their house. You can supply good quality of wood to them. Similarly, you can start selling many other supplementary materials like paints, plaster of Paris, etc.
If you are a qualified interior designer, you can start a company with your friends or colleagues to support you. In this business, it is challenging to get the first client. But once you are succeeded with this step, there is no way for you to look back in your life. It is essential to maintain a catalog of all your designs so that clients can choose a wise option from them.
12: AGRICULTURE:
Agriculture is the backbone of many countries. Many companies have succeeded by starting a company helping farmers. When it comes to agriculture, many people think about producing fertilizers and manures. But many machines and products make farming easier. Many threshers and harvesters are available in the market to help farmers to decrease the time and labour to cut the crop.
Besides the fertilizers and manures, many organic products can replace these chemical fertilizers and manures.
Like the furniture business, one can choose a wise option among various choices. Let us investigate different business ways.
1: Dealership: A dealership is a suitable option if your budget is less to start a business. In this step, you can sell products from various companies, and you can gain more profits.
2: Industry: If you are an expert in agriculture, you can start an industry that helps farmers and people. Again, there are two more steps. As discussed earlier, one can begin a production to produce manures and fertilizers, or a person can start an industry that manufactures harvesters and threshers that reduces the time to get the crop from the field.
3: If you have fertile land, you can give the property to a farmer who can produce a good crop on your farm. There are two benefits. You can get income from your land, and you can also consume good food without using any chemical fertilizers.
I think now you have an idea about various business options around you. Are you still facing any problems or have some unanswered questions in your mind? I hope this questionnaire helps to solve your problems.
FREQUENTLY ASKED QUESTIONS (FAQ’S):
Q: Is there any need to write a business plan?
ANS: A good business plan helps you to set a vision and mission for your company. This blueprint can guide you during critical situations. When you have a good idea about your business, you are the perfect person to plan your design. Many business plan templates are available online, or you can make one without any format.
Q: Do I need to know about financial statements?
ANS: Basic understanding of these statements helps you to understand the critical points of your business and helps you to concentrate on the required sections. You can take the guidance from your accountant to prepare some financial statements like balance sheet, cash flow statement, and statement of operations.
Q: What are the different ways to promote my business and increase my sales?
ANS: There are many ways to drive traffic to your business. You can use social media for this purpose. Some companies also conduct an awareness camp to promote their business. Testimonials and ratings are essential and ask your customer to leave a rating or review after the service.
CONCLUSION:
I hope you have a good idea about various business ideas and options around you. If you have any unanswered questions, you can consult a nearby business consultant. I believe he/she may help you to sort down your issues. It is vital to maintain all the safety precautions and obtain an insurance policy before starting a business. An insurance policy can help to withstand your organization during critical times. I wish you the best of luck with your business.