Know about different business ideas to explore

The allure of starting a small business in the field of one's choice is driving millions of entrepreneurs to set up a business of their own. In light of this, it is essential to identify the best areas for small businesses to thrive and grow.

Here are some of the interesting business ideas in India for setting up a small business:

1. Automobile repairs

Car and bike users have to visit expensive service centres and wait for days to get their vehicle fixed. However, this practice is soon changing with doorstep repair services.

If you are a skilled mechanic, you can start a mobile auto repair business with a few simple tools and invest in specialised equipment.

Advertise online by taking a business loan to offset marketing costs and use a smartphone app to approach customers within a specific radius.

2. Tiffin service

Tiffin service is one of the fastest-growing businesses in urban and semi-urban India. Delivery of meals at workplaces and residences has seen an increase in demand due to its convenience, particularly to working individuals. The initial investment required is relatively low, making tiffin service a lucrative business idea in India.

Aspiring entrepreneurs can thus cash in on this opportunity and give shape to their business idea. Providing fresh, home-cooked, wholesome meals thus by far remains among the top few business ideas in India.

3. Electronics repair

Most of us use multiple electronic devices at home and work. Even a slight issue in the functioning of an everyday gadget, such as a cell phone, causes a significant inconvenience. Instead of visiting an electronics shop, it would be much more convenient to receive help right at the doorstep. If you have a degree in electronics and technology, you can provide door-to-door electronics repair services.

Additional read: Business ideas for women in India

4. Blogging as a small business

The advent of the internet has opened up several business opportunities, blogging being one of them. Initially used for recreational and informative purposes, blogging has of late emerged as a lucrative new business idea.

You can choose your fields of interest and expertise to start blogging and generate income via affiliate marketing, sponsored blogging, etc. You can create your own blogging business with a small investment amount. The business idea brings significant earning opportunities over time.

5. Private tutoring

Many parents in India are realising the importance of overall development for their children that schools alone are unable to provide. There is also an increasing need for specialised coaching to help children excel in academics. If you are an expert on any subject or skill, leverage your knowledge to set up a successful business holding private classes in subjects such as self-learning, drama and speech or even watercolour painting.

6. Pet-care service

If you are looking for the best business ideas with low investment, a pet care service is ideal to start with. Pet owners take special care to ensure their pets receive the right care and treatment while they are away.
Hence, they look for professionals who can take care of their pets while travelling.

Pet care service is thus a potential opportunity where you can tap in to generate income. If you are a pet lover, it couldn't get better than opening a pet care service. The initial investment required is also minimal, thus making it easy to start and operate.

7. Educational mobile apps

If you’re interested in creating teaching aids, mobile apps are a promising avenue for you. You must have expertise in the subject matter and either outsource the technical development or do it yourself. Apps related to general knowledge, mathematics and overall development are highly sought after and can help you create a substantial business.

Additional read: How digital business owners can find success

8. Bake the cake

Bakery products are in huge demand today, thanks to the happiness they add to celebrations. You can start with your own bakery business with minimal investment and generate considerable revenues from cookies and muffins to cakes and other bakery products.

Among the best business ideas in India, the bakery has immense potential for growth and expansion. As the market trends towards first-hand bakery products at affordable prices, a home-grown bakery has a golden chance to be an instant hit these days.

9. Clothes and accessories

There is a growing business trend to rent clothing and accessories at much lower rates than their original prices. If you are excited by fashion, you can establish a renting service and turn it into a lucrative business. Use social media for advertising your offerings and set competitive prices to attract millennials.

Additional read: How to start a clothing boutique

10. CCTV and surveillance

CCTV and surveillance are increasingly becoming one of India's most profitable business ideas with increasing consciousness towards personal security. Surveillance solutions offer improved security along with counter-measures against theft or similar incidents at residential and professional dwellings.

With more people opting for personalised CCTV surveillance systems, the demand for such advanced technology is rising. Although initiating such a business of offering holistic security solutions requires considerable investment, it is a highly profitable venture.

11. Home and office furniture

As people move all across the country for short-term projects and jobs, they require furniture at home and at the workplace to feel more comfortable. However, they don't want the hassle and expense of buying new furniture. You can tap into this mindset by providing tables, chairs, PCs, printers, couches, TVs, ACs, etc., on rent. You can tie up with tempo services and seasonal labour to shift furniture when required and gain on using the same inventory repeatedly. If you run short on inventory, you can take a working capital loan to boost your inventory during busy periods.

12. Used laptop and computer

Laptops and computers have become an essential part of an individual’s daily requirements for work, education or recreational purposes. There is an upcoming parallel market for used laptops and computers with decent configurations available at low prices. The demand for these products is high and expected to remain so for some time.

Starting a dealership for the sale and purchase of such products creates attractive earning avenues, thus making it a good business idea in India. Tapping into this huge market by modifying used laptops and computers and selling them does not require hefty investments. Hence, the business is considered a highly profitable one.

13. Consulting

If you are well-versed in a particular industry or subject, you can become an independent consultant and create a customer base. You can speak at events and conferences, provide strategic solutions on a contractual basis or serve as an advisor. This may be in fields as diverse as education overseas, ex-pat coaching or investment.

14. Air-conditioner repair/ maintenance

Air-conditioners have become a necessity for most workplaces as well as households. Maintenance and repair of ACs for proper functioning are necessary considering the increasing number of users and the extensive usage.

Setting up a small venture that provides AC repairing and services is one of the best business ideas. It offers high profitability and stable returns if annual maintenance contracts for AC repairs of workplaces or residential complexes are acquired. You can set up the business with a small investment to receive the necessary equipment and skilled workforce.

15. Accounting

Efficient money management is a vital part of all businesses. However, most people need help with keeping their finances in order. If you have a finance, accounting, or bookkeeping background, you can run a very successful business that offers financial solutions to SMEs and firms.