There are lots of businesses which you can start with initial investment of about 2 lakhs or less. In this article, I have crafted top 10 profitable business ideas under 2 lakhs investment in India. I hope that these ideas will help you to start your own entrepreneurship career with ease.
Here are 10 Business Ideas under 2 lakh investment:-
1. Car Driving School – Driving school is very lucrative business idea and it can be started with investment of Rs 2 lakhs in every state of India. You can start this business from home targeting customers in your locality. Very minimum marketing expense is required at the beginning to get started. The initial investment in this business is in the form of buying a car. You can go with used cars at the beginning and it will cost you around 1.75 lakhs. You do not need a luxury car to start this business, even some basic car like Wagon R is sufficient. Below are some of the important points to get started in this business:-
- Buy a Used Car – Search for used car in your city in good price under 2 lakhs, you can go with Wagon R, Hyundai i10, etc. Make sure that your car has power steering.
- Get Registration Done – Register your business and get driving school license from state government. Visit RTO office and collect required forms from there. You can register your business as one person company, LLP and private limited company.
- Hire Professional Driver – Hire a driver who is going to teach your students how to drive and some basics about traffic laws.
- Setup Small office – Small office space is required where your customers will visit you.
2. Wedding Planning – Wedding planning is a type of business in which no initial investment is required if you have solid business plan. The initial investment will be in the form of business registration which will cost around Rs 25000/-. After registration, small amount of fund is required for marketing your business. You can go with online marketing on social media platforms. On the other hand, advance payment from your client will cover all the costs of planning an event. Every wedding equipment is available on rental basis which will cut your cost of purchasing and storing in your place.
- Register your business – It is recommended to register your business as private limited company because LLP and one person company needs to be converted into private limited company if annual turnover crosses certain limit.
- Get connected with wedding equipments vendors in your city.
- Get your website done for marketing.
- Use social media platforms for potential clients.
Also Read : – Profitable Wedding Planning Business Plan In India
3. Fast Food Restaurant – A small fast food corner is very profitable if done in planned way. Profit margin in fast food business is 55% which makes it very lucrative business opportunity. A small fast food center in your locality with average foot traffic will drive good profit to you in long run. This business can be started under 2 lakhs of initial investment in every Indian state. Some basics in this business are given below:-
- Rent a small place in your locality
- Apply for food safety license from FSSAI (Food Safety and Standards Authority of India)
- Get a license from Fire department.
- Hire skilled staffs members. Minimum of 3 staff is required at the beginning.
- Set competitive price and make profits
4. Export Business – Export of agricultural products and other essential items are very profitable and also are encouraged by the government of India. Starting an export business is very simple and it can be done with investment of less then 2 lakhs. Major challenge in this business is to find potential buyers in international market. With the help of online platforms, you can find potential buyers easily in foreign countries. Also, opportunity in export business is very high. For example – India exports agricultural products to Saudi Arabia, Malaysia and other countries in very large quantity which ia very profitable. Steps required in export business is given below:-
- Register your company and make sure that you use exporters in your company name. For example, ABC Exporters India Private Limited.
- Get IEC (Import Export Code).
- Open current bank account in your firm name.
- Find products in your local market which is available in bulk. Agricultural products are recommended to get started because demand is very high in international market.
- Attend export trade fairs in India to connect with other exporters.
- Use Indiamart, tradeIndia, Alibaba to find potential clients.
Also Read : – Steps Required For Starting An Export Business In India
5. Sell Mobile Phone Accessories Online – You must have bought mobile phone cover or other accessories from online store like Amazon, eBay and Flipkart. Do you know that you can also sell your own accessories on all websites mentioned above? The process of becoming a vendor on all mega portals is very simple, all you need to have a registered business name with current bank account. You can create your online store in a day only. Mobile phone accessories are among best selling products and profit margin is sometimes 200%. If you are importing accessories from china then it will be more profitable. Steps required for creating an online store are given below:-
- Register a firm – You can start with one person company.
- Get a current bank account.
- Purchase phone accessories from local market, you can also import accessories from China.
- Register on Amazon, eBay and Flipkart, create your inventory and upload images of your items. Pickup and drop will be handled by Amazon and eBay.
- Receive orders and deliver products.
6. Web Content Writing Firm – With the advent of e-commerce and online marketing, web content writing is in boom these days. Every company needs quality content for their website and online marketing campaign. Engaging content for social media and other platforms are in high demand. If you have interest in content writing then you can setup a firm easily with investment of 2 lakhs. All you need to have a business name and some professional content writer to begin with. Below are few websites which will help you in getting content writing projects:-
- Freelancer.com – This is most popular platform where you can bid for available projects available. This is one of the best platform to het started and you will get projects in bulk if you provide quality content in competitive price. You can read more about freelance content writing here
- Upwork.com – Upwork is also similar to Freelancer.com where you can create your profile and bid on available projects with your pricing.
- Use social media to get clients – If you are posting engaging content of social media about your company then you will get some client through organic search. Try to post frequently on social media about your approach and skills.
7. Bakery Shop – Bakery shop is always in demand and you can run in from your home at the beginning. A bakery shop with different cookies, cakes, tea, cold drinks, etc is profitable business idea if you have a place near to hospital, railway station, bus stop, etc. Generally, a decent foot traffic location is ideal place to start a bakery shop. Two lakhs investment at the beginning is sufficient to get started.
8. Coaching Classes – This is best business if you have good command in your skills. If you are good in teaching then you can go for coaching classes for students. Tutors are always in demand and could be very profitable also. This business requires minimum investment at the beginning. The initial investment will be in the form of some furniture and other accessories as needed. Even 2 lakhs investment is not needed if you have your own space for teaching.
9. Jute Bags Making – Jute bags are very high in demand these days because of ban imposed on use of plastic bags. This business is very profitable and you can start with the investment of 2 lakhs. The price of Jute bag making machine is under Rs 50,000, raw material price is also very minimum as compared to other manufacturing businesses. Below are some steps to get started:-
- Select a proper location.
- Buy Jute bags making machine with price under 50,000 INR.
- Get raw materials supplier information in you city.
- Hire staff and give basic training.
- Start producing and make profit.
10. Waste Management – There are various waste management business options are available to start such as electronic waste, paper waste, battery recycling, etc. With the initial budget of 2 lakhs, you cannot start processing of waste materials but you can start with waste collection. All you need a vehicle and a location where you will dump waste and supply it to processing companies.