Fastest Growing Small Scale Businesses

With the COVID-19 vaccine at the cusp of mass distribution, people around the world have really high hopes for the coming year. Businesses are planning their next move to recover the losses incurred during the lockdown.

This news is also a joyful herald for people who are ready to break free from the clutches of the mediocre 9 to 5 jobs. We are talking about aspiring entrepreneurs who have been saving their hard-earned money to make a difference in the world and build an empire.

Most entrepreneurs have the entire game plan ready before they dive into the testing waters of the business world. Some are slow players, while others wish to conquer the summit as soon as possible.

For entrepreneurs, ideas play a crucial role, and they often tend to change in congruence with business and economic trends. If you are among such entrepreneurs and looking for business ideas that can take off quickly, you can refer to this list.

1. Food and beverages takeaway

Food is among the fastest-growing industries in India, with 1.2 billion consumers. People love spending on good food, and if you are skilled enough, this is a golden opportunity for you.

It is not necessary to open a full-fledged restaurant; you can try your luck even with a food truck, which has gathered quite a fan-following in recent times. Furthermore, setting up a food truck costs 30-35% lesser than a restaurant; the surplus amount can be used to buy another truck or upgrade your existing one.

To start a food truck, you need a handful of dishes or snacks that your customers will love and are easy to cook. Moreover, if you have a good hand with traditional snacks, you can rope in an entire community as your customer.

Let’s get to the next part, i.e., drinks and beverages. Fruit juices, buttermilk, lassi, tea, and many other beverages like these are consumed by people in India regularly. A simple juice stand can be a profitable business if you find the right audience for it.

If you are able to manage sufficient space and a helper, you can merge both businesses and open a mini restaurant.

You also need to understand that opening such a business would require some permissions from bodies like the Food Safety and Standards Authority of India (FSSAI) at some point in the future. Therefore, you need to make sure that your food is of the highest quality and meets the required hygiene level.

There are numerous ways that you can use to start a food and beverages business. Here’s how you can start a food and beverages takeaway business:

• You can start your takeaway business in a food truck for enhanced portability. You can use a small cart if your menu has fewer items.
• In the initial phase, you can print and stick the menu or a price list on the sides of your truck or cart. Since menu leaflets have a higher chance of being misplaced or damaged, this might save from the various inconveniences.
• You can buy ingredients like spices, beans, grains, etc., from a regular store, but items like bread, sauces, buns, and more can be made at home.
• To avoid legal issues, it is recommended that you get an FSSAI license from fssai.gov.in.
• If you are planning on opening your takeaway restaurant in a shop or around a residential premise, you will have to get the necessary permissions from the local governing bodies and the society in which your shop is located.

2. Tailoring/Embroidery

Tailoring and embroidery are among the oldest businesses in the world. Currently, the Indian tailoring and apparel sector is the second largest manufacturer in the world, and it is valued at INR 3.92 lakh crore and is expected to reach a whopping INR 10.54 crore by 2021-22.

Therefore a good tailor is considered no less than a gem.

You don’t need a massive investment amount to start a tailoring and embroidery business, all you need is a good quality sewing machine, and you’re ready to go.

If you have substantial experience in tailoring and embroidery, you can start your business right away. In other cases, you can take formal training to learn these skills that can take up a considerable amount of time.

You don’t have to purchase or own a separate working space/shop to run your business. To operate a tailoring business, you only need a small area of your home, and you can get your first customers from your neighbourhood or locality.

Here’s how you can set up a tailoring and embroidery business:

• You have to purchase a high-quality sewing machine that comes with lots of functions and features.
• Suppose you have a load of sewing threads and other accessories, great! If not, then you can visit any online shopping website and get a good deal on sewing kits and threads.
• To reach out to your customers, you can distribute flyers with all the details and prices mentioned on them. To make it easier, you can take the help of the newspaper vendors around your locality.
• You can also list your business on the Facebook marketplace and Justdial to get wider coverage.

3. Online Businesses

We all knew that the world was eventually going to shift online; the pandemic just acted as a catalyst in the entire process. Now that the world operates under the massive umbrella of the World Wide Web, there are countless online businesses that you can try one of them to make money faster.

The online business world gives you a plethora of options such as blogging, e-commerce website development, translation services, and social media experts. Services like these are highly sought after by most businesses and solopreneurs.

To give you an overview of the growth of the Indian online sector, you can take the example of the Indian eCommerce sector, which started at USD 14 billion in 2014, is estimated to reach USD 200 billion by 2027.

Just like tailoring and embroidery, you need minimal equipment to start an online services business, such as a high configuration computer and a fast internet connection. If you have a good command of your language, you can also take up ghostwriting and freelance blogging, which can help you maintain a consistent income flow.

Here’s how you can start your online business:

• Depending on the kinds of services that you wish to offer to your customers, you will have to buy a reliable computer or a laptop with a configuration that helps it run the necessary software.
• To get jobs or gigs, you will have to create an account on freelancing websites like Freelancer.com, Fiverr, and Upwork.
• Create a good profile and add some of your best works in the description to attract employers.

4. Cookery Classes

It is not necessary that you use your cooking skills to pump out orders from the back of a restaurant; you can share your cooking knowledge and expertise with young and adult cooks via cooking classes.

Cooking classes are a much more suitable alternative for chefs and bakers who are either looking to retire or want to make it big in the culinary domain. There are many ways to approach this business, starting classes at home or in your locality and teaching people personally. You can also create videos and vlogs that people can watch over the internet.

You don’t need a massive investment to start cooking classes. Furthermore, this business will also give you time to learn new things and skills that can be a valuable addition to your teachings.

Here’s how you can start a cookery class:

• Find a niche that interests you want to pursue and create different modules to divide your curriculum. This will help you plan the course well and teach your students more effectively.
• Create a flyer and social media post that will help you get students for your classes. Use different methods to send it to people.
• Pre-recorded videos and snippets can be very helpful and work as your cooking portfolio. To record such videos, you will need a high-resolution camera and basic editing software to make it look elegant.

5. Daycare Services

There are a lot of working mothers in India who leave their homes every day in the pursuit of achieving their goals and dreams. In their absence, parents need someone who can provide their kid(s) with the kind of care and attention they would give to their kids. This is where the concept of Daycare Services comes into the picture.

Daycare service is a place that has a home-like environment that allows the kids to play and learn useful things along with other kids while their parents are at work.

If you are well-versed in handling kids of all ages, you can make quite a decent amount of money without even stepping out of your house. To get customers, you can find working families in your locality or even advertise on social media.

Here’s how you can start a small Daycare Service:

• If you are planning to open a daycare centre in your home, you will have to make some important changes. First of all, you will need an entire room where the kids can play, eat, and spend the rest of the day. Secondly, you will need toys that are safe and storybooks to keep the kids entertained.
• You have to cover the walls with soft padding, To prevent the kids from injuring themselves.
• Most daycare centres invest in good surveillance systems that can help them keep an eye on the kids when they get busy with other chores.
• You can create a banner and hang it on top of your window or create a standee that can be placed near your centre.

6. Travel Agency

From the time the severity of lockdown and curfew restrictions have been eased, there was a massive spike in the number of people traveling inside the country to places like Goa, Kerala, Agra, Kashmir, etc.

People were locked in their homes for more than five months with nothing to do except work all day. This has caused people to develop an urge to travel and relive their minds of unwanted fear and pressure. Experts predict that 75% of the Indian travel industry will be back in business by the summer of 2021.

Now that people are traveling, you can only wish for the international lockdown to end sooner (which is possibly next year). This will create a sudden wave among people to travel to other countries, which is your golden ticket to a fat tour commission.

For a travel agency, you will need a strong network of contacts in different countries or states that will help you manage things like tour guides, itineraries, flights, hotels, and others. In the initial phase, you can connect with travel agents of a particular place and share the commission. Once your business starts rolling, you can form your mini branches in those places.

Here’s how you can start a travel agency:

• To start a travel agency, you can create an account on travel mediator portals. These portals grant you access to booking various means of traveling such as airways, trains, cars, and more. In order to use this portal seamlessly, you will need a computer and a stable internet connection.
• For booking travel packages, you can take the help of portals like Makemytrip in the initial phase.
• To promote your business, social media can be the best medium.
• You might also need an office where people can discuss their travel plans and negotiate the best deals.

7. Real Estate

Low investment, high returns! This is the golden mantra that allures many to the real estate business. You just need to have a strong, convincing ability and some knowledge of basic legal procedures that are necessary for closing deals. Once you get good at this business, you can make tones of money in the long run.

To start a real estate business, you will need an office and a staff member that has the same or less amount of skills to help you out as you tend to other clients in your absence.

Here’s how you can start a real estate business:

• The real state business requires a lot of traveling, communication, and most of all, great presentation.
• At the time of launch, you can use a fuel-efficient bike or a scooter for traveling. Once you have got your business rolling, you can move on to a car to make your clients comfortable.
• Real estate agents spend a lot of time on the phone speaking to both new and existing customers. They introduce or close deals, schedule meetings, discuss payments over phone calls. To avoid any kind of interruption, purchasing a telecom service from a company that has an affordable calling plan and high data limit will be the right thing to do.
• Remember, people only invest money when they feel confident enough. Having a well-organised office with a good ambiance in a reputed locality is the best way to win your client’s trust.

8. Placement services

This business is highly suitable for HRs who were furloughed during the pandemic. You can start a small placement service using the contacts that you have gathered over the years working at various firms.

Since this job requires coordination and interaction skills, you can operate it from anywhere in the world. You only need a stable internet and mobile connection.

There are some crucial things that you need to consider when opening a consulting company. For instance, you need to make sure that your company complies with all the legal guidelines of recruitment.

Here’s how you can start a placement service agency:

• If you are planning on operating this business from home, you will need a faster internet connection and computer.
• Set up meetings with companies and firms to get a hiring or talent acquisition contract
• Integrate a CMS in your system that will send emails automatically to companies and candidates about job openings.

Starting a business is a great thought. But to make it successful, you need to have courage, patience, and most importantly, the ability to make a sound judgment.

Also read:

1) Why are Small Businesses Important to the Community?
2) How small businesses are coping during Covid-19?
3) What are the top-10 most profitable businesses in India?
4) Tips to Understand Your Market while Starting a Small Business