Small business is a growing sector these days. More and more people are adopting the same as it not only gives them profit but also a self satisfaction that they have sole proprietorship and are the owner of the business. It also gives the comfort of working at one’s own pace and time.
Here we discuss about Top 10 Profitable and Successful small business ideas in India which can generate good returns:
Restaurant Business/Food Van
This is one of the best small businesses one can start in India. It can be started at any scale based on your financial status. People have no time these days to cook but food is extremely essential. Hence almost 90% of the working population opts to eat outside.
In lieu of this fact, a restaurant business or even a food van can earn you decent income. Food vans are mobile and you can run it to any locality. The quality of food is most important even though the variety may be less. Keeping some authentic flavors on the menu card can give a real boost to the business.
It is also advisable to spend some more on advertisement trough leaflets and pamphlets in the crowded areas or outside the office which makes people aware of the restaurant and food van. It definitely requires some investment for purchase of raw materials and resources; however the returns are huge in this case.
Accounting, Tax Preparation Services
This can be one of the lucrative businesses in India. Taxation is extremely complicated in India and accounting is one such department which very few people are aware of.
Therefore, providing these services to people in need can definitely earn you a good income every month. Filing returns, managing accounts, doing the required paper work etc. are the part of this business. You can also start it at your home itself and do not need a separate office for it.
The only basic requirement for the same is that you need to have thorough knowledge about accounting and taxation. Therefore, all the required investment is on your education and nothing else. As you progress, you can even have your own firm and employ people as well.
Incense Sticks Manufacturing
Incense sticks are one such daily item which is used not in the temples but also in the house. They are kind of a daily requirement and hence they are manufactured in a large scale. This is a good business option in India.
Incense sticks can be manufactured in different shapes and sizes. However, it is important that you need to hire skilled resources for this work. Also, initial investment is required for the same such as the location of manufacturing, raw materials, resources etc. but once the investment is done, you are all set to receive returns from the same.
A pack of incense sticks can be sold for a price of Rs. 10 or 20 and hence the profits are moderate in this case. Read more
Paper Plate Manufacturing
Paper plates have also become a daily necessity. It is used in household for functions, marriages, birthday parties, picnic etc. These days most of the children’s craft demand paper plates.
The high demand for paper plates are due to the fact that it is easily disposable and is environment friendly. This lays the platform for owning a paper plate business in India.
The demand for paper plate varies depending on the needs. While some may require large paper plates others are contended with the small one. The shape and size also varies. This business requires some investment in terms of raw materials and man power but the profits are huge.
The most important factor which should be taken into consideration is receiving orders and delivering on time.
Paper Bags Manufacturing
Although paper bags manufacturing is nothing new in India; however it has gained significant importance recently. Thanks to Government ban on the usage of plastics.
The increase of paper bags have gone up significantly and right from household, retail markets to shopping malls all are using paper bags these days. This has given a significant boost to the industry.
Therefore, paper bags have emerged as a new business line and you can definitely try your hands in it as it is here to stay. Starting from paper wrappers to shopping bags, everything can be manufactured and it yields really a good return. You can start on a small scale and then as the business flourishes manufacturing can be done on a commercial scale.
Real Estate Agents and Brokers
With the rising population and the increased purchasing power of the people, the demand for real estate is very high these days.
Real estate business usually includes buying a property which can be as small as owning a house to as big as opting for a commercial space. Hence, this is a good business and the income is very high.
Usually people do not have the time or knowledge of various properties. It is here that the real estate agents and brokers come to their rescue as they have knowledge on a wide range of properties and can also show their customers the property. They usually charge a commission once the property is sold. It is usually determined as a percentage of the value of property.
Blogging and Affiliate marketing
Blogging is considered to be a paradise for writers. There are so many topics in the world to write on and this can be a full time business.
The only requirement is you need to have a flair for writing and need to understand the basics of it. You can start this business at your home itself by writing on your own or hire a team of writers and distribute the work among them.
This can yield very high returns but the key factor is your time of delivery. Apart from this, there are several agencies who like to post advertisement in your sites and the payments are usually very high.
Bakery items and confectionaries are on a rising demand these days. Ordering cakes for any occasion or snacks for office and kitty parties are a common practice.
Therefore establishing a bakery shop is a decent idea and the investment required are also less. It can give you good returns as well. However, do remember that you need to establish the shop based on two things. The first important thing is the taste and flavor and second the time of delivery. If you are good in both, then your business is bound to flourish.
Also, make some initial investment in terms of printing leaflets and share it with your customer with every delivery to create a rapport.
Grocery and Daily Needs Shop
This is a real business in India and profits are huge. Grocery is one item which is required on a daily basis and we run to the shop almost every day for the same.
Therefore, establishing a small shop in a residential area or nearby locality can earn you a daily income. You need to tie up with the wholesale agents and suppliers who can supply the groceries to your shop on a daily basis.
All you need is an initial investment to buy the products and also rent out a small space. Once this is done and people start coming to your shop, your business is all set to flourish. However make sure that you understand the people demands and always have a stock of these items in your shop.
Ready-made Garments Shop
Food, clothing and shelter are the three basic necessities for any human being. Keeping this fact in mind starting a ready-made garment shop can be a good business and it can earn you decent profits.
There are two important factors which should be taken into consideration. First and foremost, you should have a good knowledge about the clothes and the latest trends in the market. Secondly, you should check for the quality of the clothes that you want to be in your store because customers give more preference to quality.
You can also decide whether you want to have collection for all or it needs to be gender specific. Keeping all these factors in mind, you can start your business.