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A business idea is a concept that can be used for financial gain and is usually centred on a product or service that can be offered for money. The real secret of running a business is being passionate about it, if you put your heart and mind into what you do, then you will be successful.
Most of these business ideas are potentially profitable today, and for the years in future and can survive under any economic situation. For any business startup, you have to come up with a good business plan before setting up your business.
Here we share such business goals, the methods on how these goals can be attained and the time frame within which these goals can be attained. It also defines the nature of the business, the financial strategies it intends to implement to achieve the stated targets and the location of the business.
List of Top 25 Best New Business Ideas in India With Low and Medium Investment
1. Coffee shop business
The coffee business ranks second in the world regarding money turnover, experts estimate that people drink about 2.5 cups of coffee a day, and about 70% of the adult population consumes coffee.
If you live in a small town then this is one of the easy business ideas you might look into, all you have to do is find the best location for your shop, preferably a centrally located place that can be accessed easily, a sit-down coffee shop will cost approximately between, ten lakhs and $ 30 lakhs to set up, while a large drive through the shop will cost between 50 lakhs and 70 lakhs.
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2. Sports bar
A sports bar is a place where customers can eat, drink and socialize while watching the latest televised sports events, for this business to run, the owner must ensure certain objectives are in place for it to be a success.
You also have to be able to manage costs well. The owners must be acutely aware of how the bar performs and how it’s perceived by customers, most sports bars fail due to the failure of entertainment.
you must provide an atmosphere where customers can relax and also feature special promotions, local sports and even celebrity appearances. A sports bar that rents or leases its location is estimated between 2 lakhs to 10 lakhs depending on the size.
A bar that purchases its location and pays a mortgage has an average startup cost of 2 crores to 10 crores depending on the size.
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3. Power bank business
This is a small business idea that can be very profitable, for instance, all mobile devices consume a lot of power.
It’s possible to identify the best brands and models and sell them independently to the travelling sector, another interesting idea is selling a power bank in the form of a menu for cafes and restaurants, a lot of individuals who visit public catering establishments and are often glued to the internet can leave because their phones ran low on battery, but can stay put if the café can charge batteries.
The capital required for starting this business will depend on the number of power banks you want to start with, but for a good number, you will need approximately Rs. 50k to one lakh.
4. Specialty health food
The benefit of healthy eating has not yet reached all regions, making it an outstanding business idea because the demand is increasing.
A lot of people are turning to eco-friendly food despite their age, and hence it’s experiencing rapid growth, this business can be operated from home, by adding online delivery, or you can set up a specific location, preferably an accessible location.
The cost of starting this business depends on your location, for instance, the home-based startup is approximately Rs.30k to Rs. 50k, and a rental shop will cost around Rs. 70k to 1 lakh rupees.
5. Video production
Starting a video production company might turn up to be a worthwhile business idea. There is a need for people who can record, edit and publish videos due to increased consumption of online video content. For this business to work you need to have access to certain things, for example, you need to have a good base camera.
The best filmmaking camera is approximately Rs. 50k to Rs.100000, you also need things like good audio and lighting set-up.
A website for your company, a name for your company and relevant work to promote your company, for instance, if your company is just starting up, you can use old videos that you had already created or you can go out and create fresh demo videos.
To start this business, you will a capital that approximately ranges between Rs. 50k to Rs. 500000.
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6. Online tutoring
This business requires one to have a bachelor’s degree in the subject they intend to teach before getting started, for instance, if you are good in art, or mathematics, you can start online tutoring, in those subjects, you can find clients on sites like tutor.com and skooli.com.
For outstanding results, make sure you teach subjects related to your area of expertise because you can share your skills and productive knowledge to improve the learning experience.
This is the easiest online business to start, you can interact with your clients through Skype or other media personality, while doing this business you might charge Rs. 200 – Rs.300 an hour if you are a qualified teacher, and for college graduates, you may charge Rs. 500 – Rs. 2000 per hour, but you can choose to increase or reduce the price.
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7. Dropshipping
This is one of the best business ideas that doesn’t require any capital. It only requires you to have an online account for selling products, drop shipping doesn’t require someone to manage physical products, all you have to do is set up an online store, and then partner with suppliers who are ready to store, package and ship orders to your customers, in addition, you don’t need to spend a lot of time on product research, because there are a lot of drop shipping apps to find awesome products to sell.
For this business to prosper, you have to make sure your clients ship the right products as ordered by the customers, and are delivered within the agreed time.
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8. Hot air balloon rides
The main advantage of this business idea is that it has high demand and a low level of competition. The hot air balloon rides business payback period is estimated at a minimum of a year.
This type of business requires an individual to acquire all licensing and safety requirements, this is a fun business that can easily be built by word of mouth, you can also create a website to expand your probable customer base.
After some time you can open in other regions if it’s profitable enough. You will also need a capital of approximately fifty lakhs to one crore depending on the size, this business is profitable because you can charge between Rs. 1000 to Rs. 3000 per passenger.
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9. Air sofa beds
This kind of business is profitable, because a lot of people with minimum space use this type of furniture, as a seller it’s also advantageous because you can store a lot of these items in one store hence giving you the advantage of not renting extra rooms.
They are also cheap compared to the same products and upholstered furniture, they also reduce the expenses of transporting furniture without any inconvenience, you can also set up an online website to sell your products online. To start this business, you need to have a capital of approximately ten lakhs to fifty lakhs.
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10. Food truck business
A lot of people want to own big restaurants but are short on money, food truck business is much more affordable to start compared to big restaurants. You can share your love of cooking by preparing delicious meals that will attract customers to your food truck, you can advertise your business online.
starting this business is cheap, all you need is a food truck, utensils and the ingredients needed to prepare the meals you want to cook, and if you are lucky to get a great response you may have enough capital to start your own restaurant business with time.
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11. Bakery
This is one of the most successful home-based businesses available today, if you have a passion for baking and you have the required skills, you can start your bakery, you can sell the products in your shop or you can as well as tie up with retail shops to sell your products in their shops.
You can also create an online page to advertise your products and all the services you offer in your bakery, you can book events like birthdays to display your cake-baking skills, starting this business requires a capital of one to five lakhs
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12. Cooking classes
This business idea is for those who have a great passion for cooking, the meals they prepare have the greatest taste and are not harmful to one’s health.
If you are one of those people who can’t stop cooking even when you don’t have to, this is a great business idea that will help you share your ideas, especially if you have less capital, you can do online cooking classes by working from home where you will have enrolled clients to your program, or you could set up your training center. This business requires a capital of Rs. 10k to Rs. 50k.
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13. Website design
It’s rare to come across a company that doesn’t own its website since having an online presence has become necessary for any growing business.
Most companies often look for fresh and impressive website design, this is one of the best small business ideas that have worked well with people who have the required skills, it requires one to have an online account displaying some of his original ideas, this helps you to get clients and professionals.
The average cost to build a basic website design is Rs. 50k according to the builders’ expert, designers charge around Rs. 40k to over one lakh per client.
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14. Event planning
This is a good business plan, for those who love to organize parties and other events, you can choose to start your own event planning business, you can either choose a specific type of event such as birthday parties, weddings, or company meetings, or you can choose all types of events depending on your skills and experience.
Having an event planning company is advantageous, for instance, if your clients like your work, they can have a repeat event and still want to hire you, and can also help you get new clients. The capital for starting this business is approximately Rs. 50k to Rs.100000.
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15. Ice cream shop
This is one of the business ideas that can bring you handsome profits, a lot of people love eating ice cream, so if your shop is centrally located and easy to access, you will often find customers walking to your shop.
A successful shop needs to provide a variety of flavours, most clients love trying new flavours, and this might just bring you more profit if you are capable of providing them, you can also create a social media page to alert your audience of the new ice cream flavours or any special offers you might be offering. To start this business requires a capital of Rs.50k to Rs. 70k.
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16. Dance studio
A lot of people have taken an interest in dancing, due to the growing popularity of TV dance shows, those who are passionate about it and want to learn more will often look for dance studios to join and some to practice. This business applies to people of all genders and from any age group.
You can hire dance tutors to help with the dance moves for those clients who are learning dance steps.
You can also rent it to professional dancers who are looking for a conducive environment and space to practice their dance steps, and YouTubers looking for a space to shoot their videos. an online page will also help clients who use social media to locate such places.
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17. Clothing boutique
If you have an eye on fashion, this is one of the best business ideas, although this sounds like an easy business to start, but requires some research, for instance before starting this business, you will need a proper business plan, you need a proper location and trained people to help you in the boutique.
You also need to know your target and go with what your audience wants, you have to know the latest designs and what is trending. You also need social media pages to market your latest design and also advertise your clothes. Starting this business requires a capital of one to five lakhs.
18. Agricultural business
This business is about the production and marketing of agricultural goods through farming items related to crops and livestock. If you have an empty land that is suitable for agricultural activities, then an agriculture business is just the best idea.
This business has a variety of ideas, to choose from, for example, poultry farming, beekeeping business, fish farming, agriculture farming, dairy farming, fruits and vegetables and more. This business is suitable for landowners.
19. Photography
This is not a hobby anymore, it has turned into a business, it’s not just about capturing pictures but emotions. If you are passionate about photography, then this is one of the business ideas likely to give you great income.
This business often grows by word of mouth, but you can create social media pages like Facebook and Instagram to showcase your talent, people will only book you online.
If your page is impressive, and for this you need the best camera gear. This business requires a budget of about Rs. 50k to Rs.100000.
20. Daycare business
This is one of the best businesses to start with little money, daycare provides flexibility, recession and non-seasonal markets, starting this business requires one to have a degree in early childhood education or an equivalent, child development associate, and at least two years of experience caring for children.
This business also requires passion to love and care for the kids left by their parents in your care, without passion you will often find them irritating. Starting a daycare requires a capital ranging from one to ten lakhs.
21. Freelancer
A third of workers in the UK now work freelance, meaning they work on an hourly or project fee basis providing their services to other businesses in exchange for a fee.
Before starting this business, you require a specialist skill that is demand and monetizable, you can do just anything, from web designing, graphic design, software development, copywriting and virtual assistance. This business only requires one to have access to the internet, a phone and a laptop
22. Become an eBay trading assistant or seller
This business deals with sales assistants with all sales details and receives a commission for successful selling of things, another advantage is that you can from home and requires low capital and minimal financial risk, starting this business requires one to know all aspects of eBay.
Experience in retail and merchandising, and have at least 100 positive feedbacks, this boosts your eBay account to a good state. The capital needed to start an eBay business depends on one’s subscription, the prices range from, $7 – $350 monthly.
23. Print-on-demand online business
This business idea is very profitable and it takes a few days to start this business, the principle behind this business is quite a simple procedure.
You have to create unique t-shirts that will be created after your customer places an order, after that, you take the money from your customer and pay for the order, then your supplier sends the t-shirts to your customer, and you easily get profit without worrying about investing in stock or maintain a warehouse.
if you want to start this business and you don’t have cool designs, you can easily get one from online graphic designers with a low amount of money. The capital for starting this business is approximately Rs. 20k to Rs. 50k.
24. Yoga studio
Yoga has spread widely as a science and art of wellness, people from all around the world have started showing an interest in yoga to relieve physical and mental health.
Starting this business can be profitable, but it requires one to know a lot of yoga moves perfectly, this business is also competitive, so you will need to come up with something unique and innovative, another important factor to consider is the location of your studio, you need to choose a location with enough people. starting this business requires a capital of Rs. 50k to Rs. 100000.
25. Music studio
Music is something that is liked by every individual, researchers have shown that music helps in developing the mind, and aspiring singers look for studios so that they can record their music, in addition to that, a recording studio is useful for recording music, sound effects and voice-overs used in advertisements.
Starting this business is fraught with financial and technical challenges but can be accomplished with the proper mixture of training, and equipment choice, again a music studio will get a lot of clients depending on its popularity, you can also open social media to help in advertising your studio.
Conclusion
To give yourself the best chance to success, focus on one idea at a time, until you get one that aligns with your abilities, whether you are a college student, a work-at-home parent or anyone looking to start a business remember that there are plenty of opportunities to earn a sizeable income, and for every business to work, you have to put your heart, time and effort into something for it to grow.
Don’t start a business because you have to, start a business that you are capable of handling and that can be run with your capital.
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