10 Profitable Small Retail Business Ideas
- BY Akshay Arora
Feature Writer, BusinessEx
- Nov 01,2017
- 13 Mins Read
Retail businesses are the key to customer’s basic needs. There are so many retail business opportunities that you can opt but to select the right one is essential. People from all walks of life want to be a boss of their own and start a business of their own but it is hard to decide on what type of business you should start. To simplify the problem there are two solutions either buy an established business or find below best low-cost business opportunities available in the retail industry.
It is a difficult decision to buy a retail business but if you have varied options then you can surely find the best business opportunity as per your needs only on BusinessEx online portal. This platform aims to provide you different opportunities in different sectors. You can find the business in the different price range, industry and location.
If you are willing to take the challenge of starting your own business then here are some business opportunities worth investing.
- All-in-one Store:
A daily need store is a necessity for consumers. This business opportunity never goes out of style as everyone needs products to fulfil their basic needs. The product that can be offered by this store is food items, drinks, daily use products (washing powder, kitchen appliances, Frozen Foods, vegetables, etc). Every locality requires at least one all in one store to get stuff from. To start this business you will need to make contacts with suppliers to buy products at low cost and sell at MRP to generate profit.
- Fashion Boutique:
Fashion in clothing is always a trending business. Entrepreneur planning to start a fashion store must keep in mind that it is essential to open up the business where demand exists, target customers ratio and rent of location. There are so many things to do before initiating the business idea.
- Cosmetic Store:
Cosmetics and makeup products is a desire for most women. The growth of selling cosmetics business is a fruitful opportunity if you open up in famous places. For example, if you are in Delhi then this kind of business opportunity will be beneficial to start in CP, Nehru Place, Malls, Sarojini Nagar, etc where women population density is more than men.
Learning never stops and so does the books sale. In the present scenario, people are keen to read novels, competitive and aptitude books beside their basic school and college syllabus. Especially in India, a large number of population is a benefit for bookshops to increase their profitability as higher the number of consumers the better it is.
- Food Store:
Food is a basic need in life and business based on needs are always in demand. You can start your own food shop at any crowded place to attract more customers. It is on you what type of food you want to deliver to customers but the choice is now much bigger than before. The age group that could be your target customer is 17- 45. The investment depends on the product offering and location cost.
- Jewellery Shop:
This sounds like a high-cost opportunity but it isn’t as now you can sell fake jewellery as everyone cannot afford original but they sure do buy fake to show off or for self-satisfaction. Even if you want to venture in original jewellery at low costs then buy some designs and rent it out at minimal prices for a day or so, this will help you recover more than you have invested in it easily.
The best thing about the salon business is that there is no target audience for it, everyone needs to go to a salon from time to time. There is high competition in this industry but all you need to do is find a location where there is less number of salon and high demand. A proper market research is essential for this business opportunity.
- Travel Agency:
Travel business includes ticket booking for places all over the country and worldwide. This type of business is beneficial for those who is in contact with passport and visa agent, bus agents, etc. But there is a drawback that someone needs to be in touch with customers the whole time till they get what they want.
- Gym & Fitness Centre:
One of the most trending business opportunities is Gym & Fitness Centre. Demand for the gym is on the constant rise as everyone is now diet conscious and maintains their physique.
Florist business is not all about selling flowers or bouquet to their customers. You can expand your business by contacting with wedding planners, with services like car and home decorations, etc. This type of business is generally fruitful in the festive season.
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