Starting a business requires a lot of time, effort, and dedication. Planning, organising, staffing, financing, and rigorous research are key elements for a successful business endeavour. However, these important elements will only be worthwhile when one finds an ideal business idea. There are certain things that you must consider before picking up the idea. The idea should be aligned with your field of interest, and you must be passionate to work on the idea. The business you would like to start must be in demand, so you must keep the current market scenario in mind.
Here are the top 20 small business ideas, so you land on the perfect business idea that is aligned with your business goal -
1. Online Teaching
One of the most thriving businesses in today’s world is the education industry. COVID era has given a significant platform to online teaching, making it the easiest job that you can start. You must have a bachelor’s degree. If you have any specialisation in any specific subject, you can proceed with your field of expertise. Good teachers are always in demand, so analyse if you can be one and share your valuable knowledge with the students.
2. Multilingual Services
In this highly competitive environment, the industries do not want to leave any stone unturned for reaching a wider audience. This makes the business of transaction services crucial. If you have expertise in multiple languages, you can translate website content, documents, etc., so it reaches people who don’t understand English or any other language.
3. Food Truck
This growing business can be the best choice for people interested in the food business. The investment is much lesser than that of a restaurant, but success prospects are high. Owing to the current situation, people prefer to choose an open platform to enjoy their favourite dishes. However, the preference is likely to remain the same, even after the COVID era. Select a menu that is in demand, and offer quality services to make a stand in the market. Once your food items are popular, there will be no looking back, and you can grow the business accordingly.
4. Digital Marketing
Marketing is the pillar of success for every business organisation. As the business expands, it becomes difficult for organisations to keep up with marketing needs. Thus the growth prospects of this business are undoubtedly high. But you must possess expert knowledge of marketing techniques. You must know the concepts of SEO, content creation, social media marketing, and pay per click.
5. Event Planner
If you are good at planning and managing events, then it’s time to make the passion your profession. You have to deal with every step of event management. Depending on the type of event, whether it’s informal (wedding parties) or formal (office gatherings), you can organise an engaging event while virtually connecting with people from all over the country.
6. Dance Studio
Talent prevails even in the pandemic era. If you have a passion for dance, you can start an online dance academy or collaborate with dance academies and teach their students. You must have a high-speed internet connection to avoid any disruption during the class.
7. Bakery Shop (Gluten-free)
People nowadays have become more health-conscious, and many are allergic to certain things, so their love for cakes drives them to shops that offer gluten-free delicacies. You can initially start with a little equipment and a helper or two and then expand the business gradually. You may improvise on your bakery products and add tags like ‘less sugar’, ‘dairy free’, etc.
8. App Developer
If you are technology-oriented, this is the ideal business idea. An increase in smartphone use has increased the demand for apps. The function of virtual reality is not limited to games only; many industries are taking up VR for their product visibility. You can start with tools available easily and may hire freelance app developers to team up with you.
9. Video Content Provider
More and more customers prefer to watch an online video on the website before buying the product. They prefer to get quick information from short video content. So, companies look for creative people who can work, strategise, edit and present engaging video content.
10. Graphic Designer
Though it seems similar to video content, it’s quite different from that. Here the designer needs to make the content more attractive by giving it a more interesting look. You may also design logos initially.
11. Content Writing
Enriching blogs and articles improves a website’s visibility and creates product awareness among the customers. So good content is high in demand, and every company needs it.
12. T-Shirt Print Business
If you are creative enough to design trendy graphics on t-shirts, you can always consider a t-shirt print business. You can organise a t-shirt printing space by setting up proper tools and start a small business.
13. Homemade Chocolate Business
Chocolates are irresistible not only for kids but for grownups too. With dark chocolate in demand, you can always consider this exciting business opportunity. Initially, you will have to invest 40 to 50 thousand rupees for raw materials and product packaging. You will need mixing, cooling, and cooking equipment. However, you will have to increase your investment if you want to set-up machinery for the business.
14. E-Commerce Store
If you can create something special that can generate some value to the customers, consider presenting them online. Create your shop and start selling.
15. Transcription Service
One of the most important tasks in healthcare agencies is the transcription job. If you can transcript medical documents quickly and accurately, you can start with this business. However, you will have to bag a certificate to provide professional transcription services, and then you may go ahead to grow the business.
16. Fitness Trainer
If you are keen and knowledgeable enough to provide fitness advice to people, why not monetise it? If you have any special certification like that of a yoga trainer or nutritionist, you can start online classes and provide valuable insights into health and fitness.
17. Travel Planning
If you are good at planning and managing tours, you already have a great business idea. Right from pick up, hotel booking, sightseeing and drop off, you have to organise and consider every minute details of the travel. Advertise your skills online, improve your online visibility, and present your work digitally to improve the business prospects.
18. Organic Product Seller
People love to have garden-fresh vegetables and fruits. Start with a small investment and create your own little garden and. Let people know about how you grow them and how organic your farming methods are.
19. Incense Sticks
India’s agarbatti business is always in demand and is not dependent on any occasion or festival. Not only in India, but people from abroad also order incense sticks. You can start by collecting raw materials like bamboo sticks, essential oils like rose, jasmine, sandalwood, etc. These sticks are coated with the essential oils, dried, and then they are ready for selling. For more production, you can buy a machine which costs approx 50 thousand rupees.
20. Candles Business
Candles like incense sticks are also always in demand. They are not only in demand for personal use but are valuable for commercial use as well. Many restaurants prefer fragrant candles to improve their ambience. They also have therapeutic properties. You can start this business with a very low investment of 20 to 30 thousand rupees initially. You will require raw materials such as wax, moulds, threads, wick, and essential aromatic oils. You will need a few pieces of equipment to melt the wax and to store the wax.
Pick up the business idea that best suits your investment capability, interest, and work passion. Your in-depth knowledge in the selected field will help you in the long run. Although a business idea is just the beginning of a bright future, it is indeed the most important decision that you will make.
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Q. How to start a small business?
Ans. You can start by bringing the business idea alive through careful planning and organisation skills. Consider all aspects like investments, expected profits, raw-materials, and future growth prospects before taking up any project.
Q. Do I need to register before starting any small-scale business?
Ans. Yes, you have to register online by filling up a form. You will also need some ID proofs and documents. You can get all the information on the official government website.
Q. How to start my small-scale business from home?
Ans. Choose a business that can be operated from home and does not require on-site visits. You must have a laptop or computer with high-speed internet connectivity to proceed with the project.