Starting a business is not a difficult task but finding an idea is. Firstly, you need to ask yourself these two major questions:
If there is clarity, on what category you want to venture in? Only then, you should start looking for a business opportunity.
You have two options whether you can buy an established business or you could scout for new business opportunities.
BusinessEx is a marketplace where you can buy an established business in diversified industries across India. This platform also caters networking services with investors, mentors and business owners want to sell their business.
India is a hub for small and medium-sized businesses and this sector has been one of the primary drivers of its economy. The SME sector contribution in GDP is expected to rise to 22% in 2020 from 17% in 2011. SMEs accounts for 45% of Indias total manufacturing output and employ around 40% of its workforce, as per the EY report- Digitalization: the next big thing for Indias SMEs.
India is expected to be the third largest consumer economy as its consumption may triple to $ 4 trillion by 2025, owing to shift in consumer behaviour and expenditure pattern, according to a Boston Consulting Group (BCG) report.
India has become the third largest start-up base with about 1,400 start-ups launched in 2016 which is 8-10% more than the preceding year and it is estimated that the start-up base is poised to grow 2.2 times to reach 10,500 by 2020, stated NASSCOM report- Indian Startup Ecosystem Maturing-2016.
This is one of the best opportunities to start your business in. But you must be educated before starting up a coaching centre and should focus on a particular segment like K12, higher education, entrance test training etc. Capital required in this business is Rs. 1-5 Lac which includes centre rent, teacher salary, required material, etc.
Coaching Industry Facts:
It is projected that Global coaching Industry will exceed $102.8 million by 2018, as per Global Industry Analysts report released in 2015.
In India, it is surveyed that approximately 87% of primary school children and up to 95% higher secondary children attend coaching classes, as per ASSOCHAM.
The gift shop is a successful business idea but only in good locations. This business needs creativity to sell unique gifts that will attract the customers. The requirement of capital will be around Rs. 2-5 lac.
Gift Industry Statistics:
In 2017, Indian personal gifting and corporate gifting market size are estimated at Rs. 2,50,000 crore from which corporate gifting market is projected at Rs. 12,000 crore, according to report released by Technopak.
Furniture business is a good opportunity to invest in. The demand never goes away for furniture as everyone uses it on daily basis. You will have to hire a craftsman and provide him with necessary resources in order to venture in this business. The capital required will be around Rs. 2-5 Lac.
Furniture Industry Snapshot:
Indias furniture market is projected to cross $32 billion by 2019, revealed India Furniture Market Forecast and Opportunities, 2019 report by TechSci Research.
Key Players: Godrej Boyce, Featherlite, Zuari Furniture, Durian, Evok, Nilkamal, and DAMRO.
This is a good opportunity to grasp. You can start this business at home part-time as well if you think that it can be expanded then give everything to it. If you dont know how to make chocolates, then you can simply use youtube and other internet sources to learn. You just need Rs. 50-75k to start a full-fledged business.
Chocolate Industry Factfile:
According to India Chocolate Market Forecast Opportunities, 2018 report, it is expected that Indian chocolate industry will grow at the CAGR 23% by volume between the years 2013-2018 and reach at 3,41,609 Tons.
A wedding planner is always in trend as more than 10 million weddings every year in India, and if you are good at what you do then you should venture in this category. Earning depends on the size of events.
Wedding Planner Industry:
Indian Planner Industry is anticipated to grow to Rs. 1.6 trillion by FY20 thereby displaying a CAGR of over 10% during FY16-FY20, as per Ken Research report.
Report added that wedding planners charge approximately 10%-15% of the wedding budget as their consultation fees.
Increase in demand and use of automobiles also whooping up demand for automobile design and repairing services. You can easily generate fruitful returns by venturing in this industry. The capital requirement is Rs. 2-5 Lac.
Automotive Design Repair Industry Trends:
In India, it is projected that over 1.2 billion motor vehicles on the roads around the world. It is true, that everyone may not require designing on their vehicle but besides designing there are also technical repairing issues that only an automobile repairing shop can solve.
You will need to hire workforce and tie up with transportation services to start this business. You can start this business from home and market it on the internet, other places and you are good to go. The initial investment required is around Rs 50-75k.
Relocation Industry Overview:
This industry is not organised like other industries and there are no strict laws binding it. It is easy to start a relocation business as compared to other businesses.
A good photographer can do it all. If you are a photographer then this business will be the best solution for you. The demand of photographer is enhancing in all walks of life. If you are talented, then you just have to market yourself to be successful. You can render services such as a wedding photographer, candid photography, sell images online etc. The basic requirement is a good camera, so initial capital will be around Rs 1-3 Lac.
It is alleged that wedding photographers can earn between Rs. 10,000 to Rs. 2 lakh per day, depending on their experience, the strength of portfolio, popularity and their marketing and networking skills.
Now there are also online websites available where you can sell your images such as Shutterstock, Alamy, iStock, PhotoShelter, Fotolia, Photo Moolah, SmugMug, CanStock, etc. The price for an image is diverse on each portals.
You can buy a franchise or you can start on your own an Ice-cream parlour. You just need to have something unique from others in order to be successful. The capital requirement will be in the price band of Rs. 1-4 Lac.
Ice-cream market trends:
Indian ice-cream market is pegged to be over Rs. 4,000 crores, and is growing at a rate of 15-20% year-on-year. It is projected that by 2019, the market will reach around Rs. 6,198 crores.
You need to be creative in order to venture in this business. Writing is an art and it is true that some may like what you write and some may not. If you are a good writer then you can become a freelancer for businesses in need. If you want to write for your and other also like it then you can also become a blogger.
Freelance writing facts:
The earning depends on how good you are. It is estimated a good freelance writer can earn around Rs 20-30k per month and if you are serious about it then you can also sell your content online to earn extra income.