In this article, we will share Best Business Ideas in India which are proving to be highly profitable & will grow exponentially in next 10 years.
While most people only know the names of the big business houses but the economy is run by small and medium scale businesses.
The ‘Make in India’ movement has given a real boost to the entrepreneurs in this country. Especially to the people who have their ideas and want to start and build something of their own.
If you are one of them who want to start something of your own but are not sure about which business will be profitable or suit you the best, here are some business ideas for you.
Lets evaluate them and choose the one which feels right to you and also you can consider taking franchise of businesses related to these business ideas, taking a franchise will provide you an already set platform.
Top 10 Business Ideas in India
Check out these list of Business Ideas which are considered to be highly profitable in India –
|Pet Care Service
|Automobile Modification and Repairs
|Healthy Organic Food Shop
|Security Services Products and Management
|Food Home Delivery Services
|Day Care Services
These are the various Business Ideas which are highly profitable & recommended for next 5 to 10 years as their market is growing exponentially.
Now, let have a deep dive into each of these ideas & understand more about them.
Pet Care Service – Best Business Ideas
Have you noticed that these days, many households have at least one pet. Be it a dog (mostly), cats, even the Persian cats are now in many households and also other pets.
However, while people are getting close to animals but the need for good veterinary doctors or pet products is still there.
There is a demand-supply mismatch. This market is growing at 14% annually.
So, if you love pets, and also want to serve them and also make it your profession, you can have your own Pet Care service business.
The investment which you will require for the same is around Rs. 5 lakhs to 7 lakhs. However, it depends on the locality as the rent can vary accordingly or the price of the land.
The average revenue you can earn as per estimates is around Rs. 50000 and above. However, the first thing you need to do is find a great veterinary doctor as that is scarce in India.
Automobile Modification and Repairs – Top 10 Business Ideas
While the automobile sector is launching new vehicles now and then, many still love the old models.
The youngsters are quite fond of modified cars as well. So, this business has its demand and it is growing rapidly.
While there are a few well-known modifiers for cars as well as two-wheelers in Rajasthan, Punjab, Delhi, but the other states hardly have them.
So, the demand is high while the supply is negligible at present. The cost of setting up this business varies as per the space you are availing.
If you have your own space, then no rent or purchase requirement is there. The initial investment would involve 1-2 old vehicles which you can revamp and modify.
However, there is another way of doing it as well. You can design the vehicle as you want to modify it, upload it on different automobile sites and when you receive orders for the same, you can invest.
To start your Automobile Repair & Modification business, you can tie up with already established brands by investing in Automobile Repair & Modification Franchise.
Event Planner – Best Business Ideas in India
Event or wedding management companies are not new in the market but they have high demand. This demand is increasing with time.
Though the pandemic hit this business sector along with other hotel and hospitality sectors at its worst.
However, again this sector is standing on its feet. So, if you have the skills to manage a party well, if you know how to do the décor, if you have people skills then you can try your hands in it.
For starting an Event planning business, the first and foremost thing you need is contacts. First, you need to build contacts with prospective clients, vendors, artists and musicians, and others.
There is no initial investment you need for this business. As when you have a client, suppose a wedding which you need to plan.
You get the contract, you take advance from the client, contact the vendors, design the theme, discuss with the client, and vendors pay the vendors their advance.
Once you receive the balance amount after the event, you can pay the vendors and keep your profit.
However, this is possible if you are starting from your home or your own office. If you are taking office on rent, then that expenses will count in.
Healthy Organic Food Shop – Top 10 Business Ideas in India
Health matters to all and thus organic products are finding their way back into the market.
However, all these organic products come at a very high cost which is not affordable for middle and upper-middle-class people.
However, the cost can be minimized by directly contracting the producer.
Moreover, often organic stores are available in malls where they have to pay huge rent, so the price of their products also increases accordingly.
If you can start it from your premises, you can cut down the major cost that is rent.
Give a quick start to your Organic Food Business by Starting Organic Foods Franchise.
Security Services Products and Management – Top Business Ideas
The demand for security services and products has always been there and with time it is increasing.
If you have the basic technical knowledge and are interested in providing security services, you can start selling products and offer security management services to offices, local business houses, residential complexes.
You can even get government contracts, you never know. These products and management services have demand across the year, there are no seasonal fluctuations.
The initial investment can be Rs. 50000 to Rs. 1 lakh as all you have to do is to buy and store some products and hire 1-2 technicians.
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Food Home Delivery Services – Top Business Ideas in India
Everyone at the end of the day want to eat something that feels like home, isn’t it? Though many home delivery services must be there in your city, how many of them serve good food?
People pay thousands of rupees per month to get nothing but tasteless food which never feels like home.
So, if you have a passion for cooking and want to serve people good food, then you can dive into this market.
The initial investment will include the advertisement cost of your delivery service, containers, raw food items.
You can also hire one person for the delivery. You can also tie up with the food delivery apps.
Start your Food Delivery Service Today with already established Food Delivery Franchise Brands.
Breakfast Joints – Best Business Ideas in 2024
There are good restaurants for lunch and dinner all around but how many breakfast joints are there in your city?
Food for thought right? Yes, while breakfast is the most important meal of our day but often we skip it.
Especially people who live alone on their own hardly have breakfasts. Just a cup of tea and biscuits at the cubicle becomes the breakfast menu.
So, if you can serve a delicious and healthy breakfast at an affordable rate, don’t you think people will grab it?
Breakfast or Fastfood joints can also be popular amongst college-goers. The investment you would need for this business can go up to Rs. 5 lakhs including the space, construction, cooking arrangements, chefs, sitting arrangements, etc.
However, if your shop runs properly, you can earn handsome revenue from it. Few things to consider while opening a breakfast joint is –
- The place must be popular – near a college, offices and even in and around hospitals.
- Food must be healthy and tasty at the same time – you have to be innovative.
You can start business with some renowned Fast Food Franchise.
Travel Agency – Top 10 Business Ideas of 2024
The travel industry has been badly hit by this ongoing pandemic but it is recovering.
Recently, while searching for some hotels, we found out that many trip organizers are providing package tours – both flooding and lodging facilities at very cheap prices.
So, we thought of booking the same. However, just before booking by god grace, we asked for the pictures of the property, and they said, they can’t provide the same as there is no fixed property.
However, they have up0loaded picture on their website of a single resort. This happened with multiple such trip organizers.
We realized that most of these are fake. So, what we want to say is that the demand for such a trip organizer is huge especially amongst young adults.
However, there are few to rely upon. If you are a traveler yourself, you can start from very basic traveling services.
You organize trips or small groups for 20 people and go along with them. Here in this business as well, you need contacts more than any investment.
You can join different travel groups, market traveling ideas you have. Plan a trip that is not regular, add some extra zinc to it to attract people.
Tutorial Classes – Top Business Ideas of 2024
One of the most profitable businesses as well as a noble profession is teaching. If you love to teach and have 2-3 friends having similar intentions, you can jointly open a tutorial center.
This is something that goes never out of fashion. Even in the pandemic, online classes were going on.
The initial investment is too low. All you need is to get students and you can start from your home as well.
However, for a proper tutorial center, you would need a property with multiple rooms for simultaneous classes to take place.
The rent and the deposit money for this property will be your initial investment. Apart from this, you have to set up the place with desks, blackboard, computers or projectors.
So, the overall initial investment would be around Rs. 2 lakhs. However, it can vary according to the rental cost, and other set-ups.
Find out Top Tutorial Classes Franchise in India.
Day Care Services – Best Business Ideas
The demand for day Care and crèche services is increasing as families are becoming nuclear and women are working more than before.
To take care of the child, crèche services are often sought after by the parents. If you are good with kids, you can take good care of them, then you can start this as your business.
The initial investment is quite nominal and the best place to start this is your home.
The marketing for this business can be best done by word-of-mouth as parents will not keep their child in a crèche reading some online review.
Check out some of the Best Day Care & PreSchool Franchise.
Best Business Ideas in 2024 – Conclusion
Starting something of your own has its beauty. You become your boss, while the losses are yours even the profit is only yours.
If you do something good, you only get praise and if you do something wrong you fall on your face. It is an epic journey.
However, choosing the right business is necessary to achieve success. Not all businesses are for everyone.
You need to choose the business wisely, then plan everything step by step, then embark on the journey to prosper.