Startups are soaring in India. While many are satisfied with their corporate jobs, some people strive to set up their own business. People often have a notion that a lot of capital is required in starting a business but this is not true, one can always start their own business either online or offline with low investment. Even some of the most successful businesses have been started with a very low investment.
Some of the most profitable businesses in India that requires minimal investment have been listed below:
Bus Service Website: The low cost internet based business can help you enjoy a successful startup. About 90% individuals travel by buses in the country and it is always helpful to know the schedule of buses, routes, etc. Hence, it can be an extremely profitable business with a low investment if people can book buses from an app or website. The business will require a minimum investment of INR 2 lakh and an expected gross profit close to 10%. It will be important to have accurate knowledge of the interstate and intercity bus routes.
Incense Stick Manufacturing: Popularly known as Agarbatti, it is used in religious as well as social functions. The labour intensive traditional industry is an export oriented business. It requires low investment and can give a return on investment of 30% per annum. Incense making is one of the most profitable businesses in the country and majority raw materials can be acquired from Bangalore and Mysore.
Housekeeping for hotels: According to a report, India will need about 15 million hotel rooms across all categories by 2020. Hence, the hotel authorities will need individuals to keep the rooms sparkling clean and will help the business grow. It calls for a low investment of INR 3 lakh and has a profit growth of 20%.
Shoe Wash Company: With consumers wearing trendy sneakers, it is important to maintain them properly. Hence, any individual with adequate marketing skills and the knowledge of the use of chemicals can succeed in this business. It could draw a profit of 40% and will require an investment of only INR 2-3 lakh.
Event Management: Event management has always been one of the most profitable businesses in the country. For any occasion, people prefer it to be well organized and celebrated on a big scale. Creativity proves to be important in this profession. There is a requirement of a minimum investment of INR 4 lakh and the profits could be 15%.
Property Management: For individuals with a minimum startup budget of INR 3 lakh, this business could be very profitable. The prerequisite of the business is marketing and sales. It can help achieve a gross profit of 50% but individuals should be ready to take the responsibility of detailed documentation procedure to help the clients.
Temping services: A number of firms need manpower services on a temporary basis. This can be provided to household and companies and can earn a gross profit of 20% with a minimum investment of INR 1 lakh. The business can become a great success for individuals who have good networking skills.
Customized gifts: Indians have a tradition of exchanging gifts on every occasion. People now prefer to give customized gifts as it is unique and attractive. Creativity plays a crucial role here. This business can be a success with the right skills, understanding and high quality product offerings. It can be started with INR 1 lakh and could give a gross profit of 20%.
Online ad service: There is a rising demand for online ads. Every individual tries to reach out to a larger audience by showcasing their products and services. With a good knowledge of networking and media planning, the business can be started with an investment of INR 1 lakh and could get a gross profit of 20%.
Pre-Recruitment Assessment: With a startup budget of INR 5 lakh, the business could be easily set up. Every company wants to hire the best possible employees and a pre recruitment service like creating a test and evaluating the candidates on different levels based on the test performance will help the company in the recruitment of employees.
Every business will require adequate marketing and networking skills. Depending on the personal interest and choice in the industry, one of the most profitable businesses can be chosen as a startup idea. Once the business is set up, nothing beats hard work and dedication in the long run.