Buy These Businesses in Coimbatore
- BY Jaspreet Kaur
Feature Writer, BusinessEx
- Dec 24,2020
- 14 Mins Read
India is widely famous for diverse business landscapes. Its business ecosystem is as large as the country, constituting regional enterprises, religious ventures and so on. Similar to other regions, Southern India holds equal importance in the country's accelerating economy. Coimbatore, which is a popular city of Tamil Nadu, is one of the thriving business spheres.
Industrialists and business veterans can find various business opportunities in the city. Similar to other regions, the health crisis has affected the regional market of Coimbatore and consequently, there are several Businesses available for sale in Coimbatore.
Before taking over any business, it is crucial to understand which businesses are flourishing in Coimbatore. Here is a list of businesses that one should consider investing or buying.
According to IBEF, India's textiles industry contributed 7 per cent of the industry output (in value terms) in FY19. It contributed 2 per cent to the GDP of India and employed more than 45 million people in FY19. The sector contributed 15 per cent to India’s export earnings in FY19. Textiles industry has around 4.5 crore employed workers including 35.22 lakh handloom workers across the country.
The industry is plummeting upward in the city. There is an array of apparels that are invariably in demand. Even though the pandemic has hit the market, the demand for textile has decreased slightly. Like before, people are still buying Benaras sarees and other allied textile products. Since the demand for textile would not go down in the offing, it is suggested to buy textile products.
Food business is highly-demanding in the city following textile business. The business attracts a spectrum of people ranging all age groups. It supplies varieties of dishes thereby, meeting requirements of customers. Despite dine-in restaurants, small food business models such as food subscription boxes or tiffin business are quite popular in the city.
Meeting the needs of elderly people, working professionals and college students, food businesses have become increasingly demanding in the region. Business veterans can think of purchasing these business models as they have a large chunk of audience to serve. Also, buying an existing business in Coimbatore will offer well-designed infrastructure.
In an ever-changing environment, people have begun valuing education as it aids in accelerating one’s lifestyle. Owing to which, people are infusing heavily into education, in turn, enrolling for various universities. According to the IBEF, the education sector in India was estimated at $91.7 billion in FY18 and is expected to reach $101.1 billion in FY19. The number of colleges and universities in India reached 39,931 and 993, respectively, in FY19. India had 37.4 million students enrolled in higher education in FY19. Gross Enrolment Ratio in higher education reached 26.3 per cent in FY19.
Prior to the enrollment, entrance tests are conducted for which coaching and guidance are required. Considering this, students look forward to educational institutes. These institutes prepare students for higher studies and clarify their doubts relating to their future.
Seeing people's rising interest in educational institutes, one should invest in this sector. Rather than establishing a new educational institute, buying an existing educational institute is preferred. One can work upon the existing business model instead of starting from the foundation level.
Prices of real estates are directly related to the market situation. At this point in time, when the pandemic has shook the country's economy, realty prices have fallen substantially. This led people to step in the sector and infuse money in buying properties.
Apart from investing in land properties, industrialists can step into the industry and take over existing realty agencies. By doing so, they would have in-depth knowledge of the market along with a good network. It will further help accelerate other additional businesses.
These business opportunities are immensely useful in the long run. If any of these businesses are for sale in Coimbatore, then interested buyers should definitely purchase them. Besides these opportunities, there are an array of other business options in the city as well. If you know some hot business ideas or existing businesses for sale, then write in the comment section below.
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