Do you live in Mumbai and want to start a profitable small business? Are you looking for top trending profitable business ideas in India’s commercial capital i.e Mumbai? If you are eagerly searching for business ideas for Mumbai, then you have clicked into the right place as here you will be able to gather information about business ideas in Mumbai with low and medium range of investment. Yes, it is true that India is a diversified nation, but no such city is present other than Mumbai who can promise to provide you both enhanced career scope and growth simultaneously. No single individual in this ‘dream city’ is without a work, be it job or business, everybody is working whole day and night.
Before knowing about business ideas, you must keep one thing in mind that all businesses might not appear to be successful in India’s richest city. If you possess the mindset of flourishing your business quickly, then you must be ready to invest a considerable amount and also work hard as much as possible. Now, have a look at the top 10 business ideas for Mumbai that will bring you profit if you devote your time properly.
Trendy profitable business ideas for Mumbai:
Restaurant and other food based business-
Mumbai or preferably the dream city is full of restaurants. Thus, if you are determined to open a new restaurant or any other food based business like catering, then you must come up with an extra- ordinary concept. Besides restaurant, you may also open fresh fruit kiosk, confectioneries, etc. If you are unable to have your own shop, then you may rent one. Other investments include purchasing raw materials, decoration items, machines, utensils, remuneration of employees, etc. If your initial investment is high, then your business’s growth and return on investment (ROI) would gradually increase within 2 years.
Pet grooming and daycare-
Nearly all inhabitants of India’s financial capital go out for work and thus have to leave their lovable pets alone at home. You may take this opportunity to build a business of pet grooming and daycare. You have to feed them on time, make sure that the pets are not lonely, play with them, etc. It is truly one of the lucrative business idea for housewives and moms. You need to invest on creating a business website and for that you may seek the assistance of a professional website designer. Maintaining it regularly for attracting clients by providing start up offers is another responsibility for making profits. To inform a maximum number of people about your pet daycare business, you may invest on print media advertisements.
One of the rapidly growing and profitable business ideas in a busy city like Mumbai and Bangalore is nothing other than event management or event organizing. Due to the hectic life of people, it has become a necessity to enlist a professional dedicated team for managing and organizing each and every corner of events including birthdays, weddings, corporate events, etc. One of the most crucial factors of being successful in this business is excellent networking and management system. You need to check numerous venues, meet sponsors, schedule performances for meeting the requirements of clients. For creating business’s image and brand popularity, you must possess sound online marketing strategy. The initial investment is minimal and ROI will enhance according to your hard work and skill.
Wedding planning service-
Indians have a fascination for ‘big fat wedding’ and to make the ceremony more memorable and unique than the others, people hire wedding planning service providers. You as well as your team members must possess extra- ordinary space management, hosting, decorative skills, etc.Your team mates must be proficient in managing everything from outside the main gate to the dining area. The most essential investment for launching your wedding planning business is maintaining an attractive website. Make sure that the website is accessible, detailed and colorful as the perfect way for reaching potential clients is online.
Textile related business-
The demand for garments or apparels is increasing by leaps and bounds because of the popularity of customized designs. So, if you have a keen interest in self- designing and also possess sound capital, then you may step into this business as it will assure you great prospect. Initially, you have to invest on a small sized rented space, modernized stitching and sewing machines, materials, electricity, etc. Besides garment making business, you may also opt for alteration service, boutique store, costume rental, designer sari making, fabric store, hand printed fabric apparel, t- shirt printing, tailoring service, etc. Once you are capable of having a strong hold in this field, you may also open a fashion designing institute or an online clothing store of your own.
Another emerging and profitable business idea in this fast growing city is car or bike rental. Various middle- class families are present who are unable to afford new cars. Inhabitants of Mumbai require cars either for enhancing their living standard, fulfilling their desire of having cars or for going to their workplace. Thus, business opportunities based on the idea of providing used cars for rent is growing gradually. You don’t have to keep used cars in stock. Just keep a network and track of people who are willing to sell used cars and a vast space for displaying some of the cars or bikes. Investment may be approximately 1 lakh-3 lakh and the ROI is nearly 4-5 years. ROI’s speed depends on the client’s frequency. To attract customers quickly, you have to spend some amount in advertisements as well as attractive offers.
If you already have a car and want to earn money with it then read this post
Equipment rental business-
If you are thinking of starting up a rental business of equipment for parties, events, electronic gadgets, etc., then you are running on the right track. Mumbai is a place full of events and so if you have a good network with event management companies, corporate event organizers, road or stage show organizers, etc., then you will surely get a sound return on your investment. Event organizers are always in need of equipment. You need to focus on timely supply, optimum cost and best quality. Your performance, assistance, service will attract more clients.
Media and Advertising Related business-
For starting this business, you must possess proper skill and sound knowledge about media and commercial film production. All other businesses require advertisement to promote their business, thus you will receive ample amount of ad making work if you have talent, and efficiency. Promotion of all products, services, corporate houses depend on ad making agencies. You have to invest on computer, digital camera, furniture, graphic art designers, etc.
Coin operated laundry service-
Due to Mumbai’s structured and fast paced living pattern, managing time for laundry is really difficult. Thus, coin operated laundry business will prove beneficial to you as well as the inhabitants. You will get a good return on investment by offering quality wash and fold and dry- cleaning service.
Mobile phone accessories-
Business related to mobile phone accessories is the way to huge profits because requires low investment, wide or scattered market and fetches high margin. Before investing, you must analyze the market, choose store location, do budget planning, choose products you want to deal with, think about means of promotion, etc. The ROI will be high if you choose accessories based on customer’s demand.
Now, if you are thinking that if you choose any of the above- mentioned ideas, then your business will surely prosper in Mumbai, then sorry to say that the thought is incorrect. Do you want to know why? You will definitely gain, if you select a specific idea which would match your own interest, skill as well as financial background. Success will knock at your door, if you can attract more clients by customizing the current business plans.