Do you want to start your own new business? Start it now. Do not get confused over the thought of what business or industry sector shall be chosen. Every business has its pros and cons, its just about best business ideas to make money. It is just about which business you have the passion and zeal to crack it. Your skill set also matters a lot in achieving the target. You should be confident enough to implement the skills you possess and manage to overcome the upcoming challenges. Further, let’s discuss some small and low cost business ideas for you to pick that matches your skill set.
List of 21 Most Successful Small Scale Business Ideas in India
1. Breakfast Joint/Take-away
Food being one of the three basic necessities of life makes a top choice for people to indulge and open-up business in F&B (Food and Beverage) Industry. This is why as a small scale business idea, food joints will never run out of customers, as long they serve delectable food. Of course a start-up business does not need to be a full-fledged restaurant from the start. One can start with only a few key dishes such as a wholesome traditional breakfast with optional snacks as an add-on.
2. Juice Points/Shakes Counters
As more and more Indians grow health conscious, fresh juices without preservatives are emerging as a popular healthy alternative to cold drinks. This is why the humble juice bar has made into this small business ideas list for India as a top option for a potentially successful venture. While one is at it, diversification into related drinks especially (perhaps less healthy) summer drinks like lemonade, buttermilk and lassi might also work out well for this small business. Of course one can decide to go the whole hog and get started with a fully loaded food truck instead. As long as the food/drinks provided are of high quality and all the requisite permits are in order, ensuring success of this business idea should not be too hard.
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As far as successful business ideas go, this one is based on another basic requirement of life – clothing, so the size of market includes well, everyone. As a start-up business, tailoring and embroidery have been around for decades and most are usually home-based businesses that receive and complete orders on behalf of small boutiques. But being a tried and tested idea does improve its chances of emerging as a successful future business especially in larger cities where tailoring services are in high demand. Obviously one needs to undergo the requisite training and ideally should have sufficient experience in order to improve the chances of succeeding in this small scale business venture.
4. Online Businesses
Small business ideas have the potential to grow into huge businesses over time and the emergence of Internet along with related technologies can definitely help out. It is proven that small businesses with an online footprint tend to do better than those that do not have an online footprint. So amazingly, this start up business idea is focused on providing a range of online services to various small and medium businesses. This is the reason why social media experts, bloggers, website designers and developers are in high demand these days. Such businesses require only basic computer systems, software and high speed internet connection to set up but they do require the entrepreneur to be skillful at what they do. Related businesses that can be successfully operated online include ghostwriting, freelancing and online translation services.
If one has to pick a single money making idea from a list of internet based small businesses from home, blogging, v-logging (video blogging) have the potential to be money spinners. As long as it is interesting, it does not matter what one writes or makes a video about. Even many top rated performance artists, including stand-up comedians have considered this as a potential way to expand their reach. The goal is of course to maximize the number of views or readers of the vlog or blog through creation of interesting content. In case of certain vlog platforms one gets paid based on the number of views while in case of most blogs adverting revenues generated through Google Adsense help the business make money.
6. Cookery Classes
In case a skillful professional cook does not fancy the idea of slogging it out at a restaurant or food truck business, there is an alternative – cookery classes. This is a unique trend that’s catching on among urban families in India as something that couples do together and create something that’s delicious yet healthy. What’s more, it is even possible to carry out these classes both in person and online or one could make a vlog teaching others the intricacies of culinary skills. The scope to expand and monetize from potential market segments that one might not be able to reach otherwise increases manifold by taking advantage of the online route.
7. Daycare Services
In India, the concept of crèches in the office for working mothers is yet to catch on and as more women enter into and stay on in the workforce even after marriage, it is obvious that the demand for daycare services will continue to rise in the near future. As a start-up business, daycare services and crèches have been around for years, if not decades especially in the larger cities that have a larger number of working women and nuclear families.
8. Dance Centre
If you are a good dancer or choreographer, you can easily start your own dance centre by taking space on rent. Marketing of your dance academy is the only investment required. If you do not dance well, still you can run a dance centre by hiring dance teachers.
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Sometimes your hobby can make you earn money, you just need to spend some extra time on your hobby to make it a profession and further into a business. Photography is one of those hobbies turned profession. Better the camera will be, enriched the pictures it will capture. Rest all is your precision and skill of taking pictures that will make you a good photographer.
10. Yoga instructor
Knowledge of Yoga and habit of self-practicing all the ‘Yoga Asanas’ makes a good yoga instructor. Yoga is considered to be above all stress buster practices and have proven results worldwide. Yoga instructors are in high demand in India, as well as abroad. Zero investment is required in doing this business.
11. Wedding Bureau
Weddings are made in heaven but arranged down here. Besides marriage online portals, wedding bureaus are more prevalent in small cities and towns. Families consider meeting other families in person before coming up to any decision. Therefore, with small office space, 1-2 staff members, registration certificate and contacts can make you a successful businessman.
12. Travel Agency
Couple of certifications and attractive office at prime location can help you start and run a travel agency. Successful travel agent is one who can make others travel at ease and convenience. Good knowledge of worldwide itineraries, flight fares and hotel rates can be helpful in initial stages.
Opening a salon is the most trending business option in metro cities. Youth of young India is more cautious of looking presentable and groomed. Therefore, almost every salon has decent customers irrespective of location. Salon owners make huge profits during festive or marriage seasons, especially in metro cities.
14. Real Estate Agent
If you are a good seller with strong convincing power, then this business can turn your financial condition for good. Office space is the only investment required with good knowledge of types of properties and documentation processes. Honest public relations and impressive communication will help you become a successful real estate agent.
15. Placement Services
HR is the integral and important vertical in an organization and good recruitment makes a company grow and grow further. So to have tie-ups with reputed organization and placing good employees with them makes it a low cost placement business.
16. Ice cream Parlour
Despite being a seasonal business, still ice cream parlour is a big hit in terms of small businesses. Investment required in doing this manufacturing business is buying the franchise of any specific ice cream brand and secondly having a shop to place the counter in desired location.
17. Handicrafts Seller
Government of India has started promoting the sale of handicraft products in numerous states. Steps are been taken to make handicraft products reach every home in India. Some of these products include metal ware, paintings, shawls, carpets, wood ware, earthenware, embroidered goods, and bronze and marble sculptures, etc.
18. Coaching Classes
Education is a field of diversity and a good low-cost business idea. Financial break-even is easily achieved and it’s not a full-time business.
Almost every sector requires consultants to assist in its development and growth. People with decent knowledge of IT, finance, marketing, HR, accounts, law, healthcare, social media, etc. can open their own consultancy company and tie-up with big corporates to make good money.
20. Boutique Store
One of the traditional small scale businesses of the nation. Women who like stitching clothes and are updated with the latest fashion trends can run a boutique store anywhere. Boutique store can be managed from home itself and the only investment required is the sewing machine with apparel to sell.
Catering business requires investment in just hiring labour, buying raw material, and owning tents, tables, chairs and utensils. The rest depends on your contacts, marketing techniques and quality of the food being prepared and served.
Also Read: 5 Leading Business Loan Options for Women
Additional Small Scale Business Ideas in India
Some of the additional small scale business ideas which are eyed by businessmen and become a success are:
Wedding Planner: It’s a never ending business and people with creativity and passion makes them successful.
Real Estate Consultant: It’s a small scale business idea of an unorganized sector that you can start with by having good contacts and public relations. Less investment and high returns are expected of this small scale business.
Professional Photography: All one need is a good DSLR camera and contacts with reputed organizations. No office required just your talent and passion to earn good amount of money.
The success of best business ideas or smallest business to start depends on multiple factors that include market conditions, the skill of the owner, proprietor and much more. The above list is short and each carries its own unique set of risks but each and every one of those small business ideas holds the potential to emerge as a successful business of the future.
Low Cost Business Ideas 2021
Let’s further discuss some low-cost business ideas for start-up companies and first time business owners.
- The most popular idea among the low-cost business ideas for start-up is a business related to food industry that is already on a rise, especially in the metro cities
- According to the studies and research, many food start-ups are running along with the help and collaboration of food delivery giants, such as Swiggy, Zomato and Ubereats
- The development of marketing strategy especially with the help of social media and digital markets is important for the success of such small scale food start-ups
- The government and the financial institutions provide all the required financial assistance for the start-ups along with flexible repayment options
- Another lucrative idea among the low-cost business ideas for start-ups is fashion accessory and clothing business that has a great potential for earning high volumes of income due to high level of accessibility
- The idea is especially ideal for young women fashion designers and aspirants who inherit the desired knowledge and experience in the field of fashion and clothing
- Design, if starts getting a fair amount of responses can be manufactured contractually to become a hit across the global markets with the partnership of e-commerce giants, such as Amazon, Alibaba, e-bay, Walmart, Flipkart, etc.
- Another attractive idea from the low-cost business ideas for a start-up is an agriculture start-up especially the setting up organic fields for growing of organic fruits and vegetables
- The market studies prove that after the rise of grocery delivery companies, such as Big Basket and Grofers, agriculture has become a lucrative business to earn decent income
All the above mentioned small businesses can be started and managed from leading metropolitan cities like Delhi (Gurugram, Faridabad) Chennai, Mumbai and Kolkata and other Tier 2 and Tier 3 cities, as well.
Business Loan News
SME Loan Relief Measures during COVID-19
30th May 2021, SBI and IBA announce SME loan relief measures for individuals and MSMEs to lower the COVID impact. The Government of India declares an extension of its Rs. 3 lakh crore ECLGS – Emergency Credit Line Guarantee Scheme.
- Public Sector Banks to offer restructuring loans to individuals, small businesses and MSMEs up to Rs 25 crore
- For loans up to Rs. 2 crore, Govt. to provide 100% guarantee cover to hospitals, nursing homes, etc. for setting up of on-site oxygen generation plants
- Interest Rate offered is 7.50%
- The validity of ECLGS has also been extended to September 30, 2021
- The disbursement under the scheme has been permitted up to December 31, 2021