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“Believe in yourself and all that you are. Know that there is something inside you that is greater than any obstacle.”Christian D. Larson
So, Which are the Top 10 Small Business Ideas in India?
Well, small businesses are the backbone of any economy. They are the engine of country’s growth and innovation. If you are considering starting a small business, it is important for you to know the right way to go about it. The best way to go about starting your own small business is to figure out what you are passionate about and find a way to make money off of that passion.
Here are Some of the factors you should consider when starting you are setting out to start your own business venture:
- The size of your company (small or medium)
- The type of business that you have (e-commerce, services, etc.)
- Your business goals and objectives
- Your risk tolerance level
- Your financial situation
So, What are these Business ideas under 10 Lakhs in India. Starting a small business idea under 10 Lakhs in India or less is becoming increasingly popular in India. With the right resources and planning, entrepreneurs can start their own businesses within this budget.
In this article, we will explore some of these ideas to help you get started on your entrepreneurial journey.
Here is a Complete List Top 10 Small Business Ideas for you to Start a Business ideas under 10 Lakhs in India.
1. Start an Ecommerce Business
Starting an Ecommerce stores is a great way to make money online. You can kick start your ecommerce store by simply selling cheap and small size products on a limited budget from your home or garage. Currently this the most popular among business ideas under 10 Lakhs to start in India.
Starting an E-commerce store business in India is not a difficult task and profitable Small Business Idea. All you need to do is to register your company with local authorities and get a PAN card and GST number for the company. As this is a mandatory requirement for running any business in India.
You could also set up your store on e-commerce platform of your choice, such as Amazon or Flipkart. Or you could set up your own website if you have the resources and required technical knowledge to do so. To start your own online store, you will need a domain name, website hosting, and a shopping cart.
The cost of starting an E-commerce business with 20- 50 products with a staff of 3-4 people for packaging and handling goods will require a minimum capital investment of around Rs ₹5 – ₹8 lakhs which will include rents, salaries, packaging materials, transport etc.
2. Start a Home Security System Installations Business
Home security is a necessity for every home and business owner. Installing a home security system is a must for any household with children and senior citizens. It can help in preventing burglaries and other crimes.
So, if you are looking to start a business, then starting a Home Security System Installations business is the perfect opportunity for you. The home security industry is a multi-billion-dollar market in the United States alone. In fact, it has been estimated that the industry will grow past $100billion very soon. But in India it is still at nascent stages with a total market value of $0.7 Billion only.
The Home Security System Installations business is a lucrative and growing field that has a lot of potential for growth and success. There are many different types of home security systems, but one of the most popular is CCTV video surveillance category.
The cost of starting a Home Security business in India is around ₹3-5 Lakhs. The company will need to invest in good and robust security equipment, hardware, and training for the staff. It is important that the company has a comprehensive marketing strategy to ensure that there is enough demand for their services.
3. Start a Tour & Travel Business
Starting a tour and travel business are an excellent option for those who have a passion for travel. India is a huge country with diverse cultures, people, and massive geographical landscapes. Hence, it offers excellent opportunities for those who want to start their own tour and travel business in India.
Tour and travel businesses in India are often focused on niche or specific regions of the country. Tour operators in India offer customized packages that can be designed to suit the needs of each client. They also offer tours that are focused on specific themes such as Honeymoon, Adventure, Vacation, and spiritual tourism.
Tours and travel in India have grown considerably over the last decade. The growth of Indian tourism is based on increased domestic visitation, foreign visitation, and international tourism.
The cost to start a tour and travel business in India varies depending on your choice of location and the type of specialization mainly
- Type of tourism specialization → Luxury or budget
- Travel destination → Domestic or international.
The capital investment or cost for starting a low-cost Local travel company in India can be between ₹3 to ₹5 Lakhs.
While it can be as high as ₹15 to ₹20 Lakhs if you wish to start an international tours and travel business in India.
4. Start a Car Rental Business
Starting a car rental business in India is a an easy to start and lucrative small business idea with immense opportunity. Car rental businesses is very popular choice among Indians due to it being less hassle to start and has attractive profit margins. In addition, there is high demand for car rentals due to worsening traffic, inconvenient public transport, bad road conditions etc., also an increasing number of people who are opting for car rentals as they have become more cost-effective than owning their own vehicle. All this scenario leads to rising demands thus generating good revenue from car rentals.
In order to start your own car rental business, you should
- First identify the type of cars that you want to rent
- Decide on the mode of operation whether you plan Intracity car rental, local car rental or PAN India car rental services.
- Lastly, apply for all necessary licenses and permits from relevant authorities before starting operations.
The cost of starting a car rental business in India is slightly high. The major costs that you will incur include: Buying a New or Used Cars, Types of cars SUV/Sedans/hatchbacks, No. of cars owned, Insurance, Fuel costs, Vehicle maintenance and repair, Hiring Drivers and Staff and so on.
The cost of starting a car rental business in India would be around ₹5-₹8 Lakhs if you are buying used cars or second-hand vehicles while self-driving your own car and hiring minimum human resource.
However, the cost of starting a high end car rental business in India with 4 to 5 brand new mid-sized cars along with experienced drivers can ranges from ₹30 lakhs to ₹1 Crore depending on various factors mentioned above.
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5. Start an Event Management company Business
An Event Management company is a business that manages and organizes events. The company may specialize in only one type of event hosting, such as Weddings, Birthdays, Themed Parties, Wedding Anniversaries and Family Events etc., or may have a wide range of experience in hosting corporate events as well like Product Launches, Business Conference, Trade Exhibitions, Seminar etc.
Nowadays an Event management companies are very much high in demand due to people’s opting for a hassle free and smooth organising of events by outsourcing the event hosting work to an event management company. And hence it takes a lot of time, effort, and a keen eye to details to run a successful Event Management company does making it a very tedious work.
The capital investment required for Starting a small Event management company which would specialise in hosting Family events like wedding etc can be started with ₹5 to ₹10 Lakhs.
However, The cost of starting an event management company that would specialises in corporate events and hosting large scale business events can ranges from Rs.50 lakh to Rs.5 crore exceeding the objective of budgetary overview of business ideas under 10 lakhs but still worth mentioning.
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6. Start a Cleaning Service Business
The cleaning industry is a billion-dollar industry worldwide. In India the business is slowly gaining grounds with more households and Offices increasingly opting for professional cleaning services. In recent times there is an increasingly rising demand for professional home cleaning services from middle class and upper middleclass families in urban areas.
The cleaning service business sector has been present in India for more than two decades but it has now started to gain momentum recently due to the introduction of easy online services and use of social media marketing.
It is easy to start a house cleaning service business in India compared to office or business cleaning services as most businesses have in-house staff for cleaning. To start a home cleaning business, one needs to understand the market, know about all key players and do some market research.
The cost of Starting a Cleaning Service Business depends on your locations and business model. To start a low cost home cleaning service business the capital required is ₹2 lakhs- ₹4 Lakhs. And to start a office cleaning services the capital required is ₹5 lakhs onwards.
7. Start a Catering Business
Starting a catering business in India is a good to start small business idea as it does not require much investment and can be started from home. Catering business can be both lucrative and rewarding endeavour if you can find right clients consistently. All you need to find the perfect location for your catering business. A good location that will have plenty of local population, nearby public areas, and market place where there is lots foot traffic throughout the year.
Catering in India is very different from catering in other countries because Indians prefer food that’s spicy and flavourful rather than bland or sweet tasting. They also like their food served with sauces on top of it or mixed into it instead of as a side dish or appetizer. A lot of Indians don’t eat beef, pork, lamb, or fish – so it’s important to serve other proteins like chicken, fish, or vegetarian dishes.
The cost of starting a catering business in India is approximately Rs. ₹50,000-₹3 Lakh to start small catering business looking to cater family events like wedding, birthday parties, ceremonies etc.
However, to start a Catering business which would target larger events like big ticket Weddings, Corporate launches, Business events, Corporate events etc, the capital investment can be anywhere between 10lakh to 50 lakhs depending on the scale of the events hosted.
8. Start a Gym or Fitness Center Business
Starting a Gym business in India is a great investment opportunity. The industry is booming in India with plenty of room for growth. The Fitness industry is projected to grow by 8% in the next five years. The only important thing when starting a gym business in India is to have a clear and thorough understanding of the fitness industry. You need to have full knowledge first-hand about your local competitors, the market size, and what your customers are looking for.
Research your location: It is extremely important to do extensive research on your location before you enter into the fitness business. You should know about other gyms in that area and if there is any scope for new Gym business to thrive. You should also know what kind of people live in that area and what are their fitness needs so that you can alter the business model and pricing of membership fees if needed in order to maximise your reach in the local area.
The cost for starting a traditional gym business with Infrastructure, Equipment, Hiring Trainers, and Staff etc the capital investment would be about ₹ 8-₹10 Lakhs.
However, for Starting a State-of-the-art Fitness Centre with multiple disciplines like aerobics, Cross fit, Cardio, Boxing and etc the total capital investment can easily reach up to ₹ 2 Crores.
9. Start a Spa Rejuvenation Parlour Business
A Spa is a place that offers personal treatments that are designed to promote relaxation, stimulate the senses, and rejuvenate the body. It is a place where you can escape the stress of everyday life, indulge in some pampering and leave feeling refreshed and revived.
The spa industry has shown consistent growth in India in the last two decades. There are many reasons for this growth such as: an increase in disposable income, increased female workforce participation and rise in awareness about wellness. The Indian spa market is estimated to be worth ₹1 billion in few years and it is expected that it will grow at a rate of 15% annually over the next five years.
Starting with a Spa parlour in India can be an expensive affair. The cost of starting a spa business in India is quite high because of the high rentals in plush locality, utility services, equipment’s along with hiring fully trained staff and administration.
The cost of starting a low-cost Spa business in India with basic facility and equipment and minimum staff is typically between ₹ 8 to ₹10 Lakhs onwards.
However, if you intend to start ultra-luxury state of the art Spa and Rejuvenating Centre in five star hotels or Private Clubs targeting the rich and privilege clientele then the cost of starting such a Spa can run in upwards of ₹ 5 to 10 crores.
10. Start a Small Retail and Provisional Stores Business
In the quest of starting small business ideas starting a small retail and provision store business is also an an attractive option for entrepreneurs looking to enter the retail market. With the right planning, this type of business can be profitable and provide an excellent source of income.
To get started, entrepreneurs need to consider the various factors involved in setting up a successful retail and provision store including location, product selection, pricing strategy, marketing tactics, customer service strategies and more. It is important to understand the local market dynamics as well as the competitive landscape before launching a new business. By considering all these factors, entrepreneurs can ensure their small retail and provision store is set up for success.
The cost of starting a provision store business in India includes the cost of purchasing or renting a shop, buying equipment and furniture, hiring competent Staff etc. Other expenses may include storage racks, refrigerator and building inventory and paying monthly bills.
The capital investment required for setting up a small provisional store in India can be from ₹4 to ₹ 5 Lakhs depending on location and size of the Business.
Hope the above list of top 10 startup business ideas under 10 lakhs will have you choose the right business. We hope that this list provides you with the information you need to make an informed decision about which startup is right for you.
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