Every business starts with a unique idea; for most of us, the important part is implementing the idea uniquely. If you are looking for a business idea that you can make a reality with as little investment as possible, you are in the right place.
If reports are to be believed, millions of people start a business daily. The investment may vary. Some start businesses with as little as no investment, and for some, investment plays an important factor. In this article, we shed some light on starting businesses within 15 lakhs, which can be profitable quickly.
Let’s take a look!
Business Ideas Involving Capital Investment of 15 lakhs
1. Gadget Store
The demand for electronics will never wear off, and a store that offers a good electronic device collection tends to attract many customers, especially the youth. If you open a gadget store, keep in mind to sell the products on retail and having well-informed sales staff. Eventually, with proper planning, you can scale up your shop easily and convert it into an e-commerce portal for better profits.
The minimum investment for a gadget store can range anywhere between 6 to 10 lacs, and the return is expected within eight months. Keep upgrading your shop and avoid losing track of trending products in the market. For best results, make sure you have an online presence with a website along with social media handles.
2. Cleaning Store
We don’t love our favourite products catching dust, but cleaning is just another chore on the list. To get this tedious task off their hands, most people are ready to pay anything. You can take this opportunity and build yourself a profitable business.
At first, the idea may seem to be outlandish, but there are highly profitable businesses depending on car wash and other cleaning services. It may surprise you to learn that with cleaning services, there are many potentials you can capitalise on. The best part is, you can start this business within Rs 15 lakh.
From taking up cleaning home services to cleaning commercial complexes, motor vehicles, water tanks - there is a defined mechanism for each process and a category of personnel. Labour is intensively required in the cleaning industry, especially in urban areas with houses and offices.
Places like hotels, galleries, museums, hospitals, and temples always look for cleaning services, especially for professional cleaners. Ensure you are well aware of the cleaning techniques and do not land up damaging your customer’s valued asset.
3. An Online Store
Technology has given opportunities in third-party sales channels for vendors and local distributors to sell products on platforms like Etsy, Amazon, and eBay.
Internal marketing is not considered a concern when selling your products through a brand and gaining much-needed exposure for your business. The best part of having an online store is the cost of convenience. Ideally, what is the cost of convenience?
In simple words, a seller making a counterfeit product for a cheaper rate to gain the top seller position. Similar products with low prices attract more customers. The world of shopping has shifted to the online sales channels, and initially, with options like the filter from prices “low to high,” it helps people connect with businesses easier. In addition to that, the perks of having an online store include:
- improve customer loyalty
- faster dispute resolution
- personalised communication with your customers
- complete business autonomy
- resilience against counterfeit products and companies
It is a high revenue-generating business you can begin with an investment of less than Rs 15 lakh if you are on the right track.
Also Read: How to name your online store?
4. Travel Holiday Planning Business
People’s love for travelling is ever increasing. You can leverage this love by starting a travel planning business. All you need to do is, conduct ample research on several places, booking ideas, modes of travel, and varying customer needs. You can expect the investment to be within 3 to 5 lakhs initially, with the return on investment coming within eight months. The perks of owning a home-based travel business are:
- Start at a low cost, even less than 15 lakhs
- No need for any formal education to become a travel business planner
- No need for an office
- Start it online
The best part is - you get to pool the benefits of the opportunity where people love to travel. You will never go out of business unless, of course, you provide awful services and have no clue of what you are doing.
Also Read: How to start tour and travel business?
5. Catering Business
For some food is an expression of love, while for some other people, it is a basic necessity. Irrespective of the mood or occasion, food has to be amazing no matter the day, the relevance, and the place. An event with good food and wonderful service is remembered and celebrated for a long time.
It’s a small industry that typically grows into a large one with great service. Before you start, you must prepare to enlist great cooks and premium dishes, not majorly served by other catering services.
The initial investment in the catering business is low. For instance, however, the returns expand gradually, and you can then scale the business to accept more than one or two orders for a single day. Passion for cooking is important. If you are into catering, wish to provide great culinary services at minimal operational costs.
Make sure to have trained employees, especially when it comes to interacting with the guests. Always take feedback and reviews, and post them as testimonials on your social media handles and websites.
6. Online Advertisement Business
If reports are to be believed, the online advertisement businesses collect up to 600 crores revenue yearly. This is accounted to be only 3% of the total advertising market operating globally. Advertisement is a fun way of working with statistics, colours, graphics, various tools, all of it to help a brand get the image it desires.
The primary benefit of having an online advertising business includes global reach, where marketers get the benefit of associating with people worldwide, at the same time, making an effort to highlight a brand’s image. In addition to that, the online advertising business is cost-effective and time-efficient.
You get to use free analytics, dashboards, such as Google Analytics, to measure your brand’s performance.
Advertising does not entail a marketer holding up the task for weeks because brands keep a note to measure business success frequently, more so within 24 hours. Most importantly, if you plan for an online advertising business, make sure you maintain an after-sales relationship. Be the consumer or a prospective candidate, follow-ups and after-sales relationships are extremely important to maintain long-term clients.
Setting up a business does not happen overnight. It takes a fair amount of research, market study, surveys, and a sound business plan. You also need to have proper administrative systems, if not software, at least a plan that will help you cater to the loopholes if any.
Make sure you have legal documents and papers for setting the business and have them filled and duly signed by respective authorities. Starting a business with 10 to 15 lacs is not a vast amount. However, it’s your money, and you need to be careful.
1) Online Business Ideas You Can Start Quickly
2) What online business can I do to make money? Here are the top-6 ideas for you.
3) Where Do the Best Business Ideas Come From?
4) Best Home Business Ideas in 2020
5) OkCredit: All you need to know about OkCredit & how it works.
Stay updated with new business ideas & business tips with OkCredit blogs in English, Hindi, Malayalam, Marathi & more!
Download OkCredit now & get rid of your bookkeeping hassles.
OkCredit is 100% Made in India.
Q. What business can we do with ten lakhs?
Ans. Businesses like dog breeding company, tissue paper manufacturing company and catering services can be started within ten lakhs.
Q. Does travel holiday planning involve risk?
Ans. Ideally, all businesses involve risk. With travel, however, you need to ensure you know travel norms and regulations, including documentation for various locations.
Q. What business can I start with 5 lakh?
Ans. Businesses like food delivery, property management, kennel, uniform making can be started within five lakhs.
Q. What is the safest business in India?
Ans. Currently, a Shoe-making company, incense stick manufacturing company, housekeeping services company, and a company manufacturing corona safety equipment, are some of the safest businesses in India.
|We hope you liked our article. To know more details about business ideas in India, you can visit these linked articles as well:
|Home Based Business Ideas||Low Investment Business Ideas||Small Scale Industries|
|Import Export Business Ideas||Online Business Ideas||Wholesale Business Ideas|