50+ Highly Profitable Small Businesses In India
Table of Contents:
1. Highly Profitable Small Business In India
2. High Margin Businesses In India
3. Highly Profitable Business In India
4. Marketing Ideas For Small Business
5. Top 20 Profitable Small Businesses Worth Starting in 2021
7. FAQs On High Margin Businesses
1. Highly Profitable Small Business In India
In a country like India, where there is an urgent need for creating jobs, startups are the most brilliant idea. Startups not only generate revenue for the owner, but they also generate employment for the country. Although some individuals are very happy working for 9 to 5 jobs, or even for longer hours, there is a continuous increase in the number of young Indians going for their own startups.
People always assume that starting a business requires a lot of money, but that's not true. With a very small investment, you can still start your company. Even most of the most prominent entrepreneurs in the world have started their entrepreneurship journey with very low investment like Facebook, Google, or even in India Flipkart, Zomato, Swiggy, Ola, etc. Check out some high-margin small businesses in India which you can start with a very small budget and which can turn profitable very quickly.
1. Food Catering
India is a populous country, and Indian cuisine represents a social truth to life. It's hard to imagine Indians are tired of food! You can understand this from the fact that on our streets new restaurants and local food joints are opening up at regular intervals. Food catering is a fantastic idea if you have the talent and taste for cooking and do not want to spend renting some kind of space.
Orders can be taken, cooked at home, and sent to the place desired by the customer. In reality, catering is one of those small business ideas that are experiencing a faster rate of growth than many others. Some of the best ways to start and grow this idea are to provide food for groups, corporate office lunches, or even do tie-ups with food delivery apps.
2. Educational Centres or Tuition
Tuition has always been an important feature of the Indian education system. Many parents put their kids in tuition classes. The classes are either to complete their assignments or study for their examinations. If you enjoy teaching, then it is an excellent idea to open a tuition centre in your house. You can try out either tuition at home or centralised centres that employ teachers.
A large number of coaching institutions like Aakash, FIITJEE offer franchises as well. The study material is offered by them with an initial investment. For beginners, taking a franchise and working under their guidance can also become beneficial.
3. Bus Service Website
90% of Indians use the bus for long-distance travel. People often prefer to know the bus schedule and all the information relevant to them in advance, such as ticket prices, bus routes, etc. A website for bus services such as redbus.in that offers information on all this will prove to be very useful. It shall also include information on the networks from where the ticket can be booked or can provide the booking option on the site itself against a booking fee. So if you allow people to book buses from your website or an app, it can be an incredibly profitable company and that, too with a meagre investment.
Accurate knowledge about interstate and intercity bus routes is needed for this business idea. However, to manage the website and connect with the clients, it is important to have excellent IT skills. This business can turn profitable very quickly sometimes even within months.
4. Safety and Protective Equipment
The demand for masks, sanitisers, hand gloves, UV thermometers, face shields, and PPE kits, etc. is very high these days. So what you have to do is simply purchase all of these items in a large quantity from the original manufacturers, and then supply them to hospitals, factories, offices, schools, etc. according to their demand. However, you may face price competition in this business as there are hundreds of brands producing these goods, and all of them offering drastically vast pricing.
5. Property Management
As more and more people prefer residential complexes with multiple amenities, property management is all set to become a very lucrative business in the coming days. This business will prove to be very profitable even with a minimum investment. You need to get hold of a suitable workplace and be prepared to take responsibility for the clients' comprehensive reporting processes and records. As this profession is linked to the provision of services, you can expect a gross profit of approximately 50% and you can reach the break-even status within one month.
6. Travel and Tourism Services
There is no question that if properly planned, the travel and tourism business can be very profitable and lucrative in India. With the magnificent natural scenery, unique architecture, and ancient history, India is a dream destination for many tourists. The civilisation of the Indus River in India flourished five thousand years ago. With more and more individuals visiting new destinations, taking vacations, and indulging in weekend traveling, the tourism industry is experiencing steady growth.
The Indian Government is also aiming at reducing taxes and offering more incentives for tourism to boost economic growth and generate jobs. Tourism will become one of India's fastest-growing industries in the future, and more and more foreigners will come to explore India. You can start diverse kinds of businesses based on the travel and tourism industry such as arranging tours, airline ticketing, travel consultancy, travel agency, etc.
7. Fashion Boutique
The fashion industry in India and all over the world is truly a thriving industry. In the light of India's rising middle class, there are strong market opportunities for the fashion industry. However, the fashion industry in India is a really competitive market, and if you want to excel in this sector, you need to ensure that you always follow the trend. You can have a successful fashion boutique in India if you are able to pick the right niche and concentrate on the right target market.
8. Café business
Cafés are spread across India and become trendy because young people choose coffee shops as their meeting and exchange destination. Research has shown that, simply because of the pleasure, 40 percent of young people drink coffee, indicating that the movement towards coffee is encouraged more socially than actual need or preference. All these signs suggest that the coffee community is speeding up. Opening a café may be a good and lower-cost option. There is more space in the coffee market in India compared to restaurants since India was originally not a coffee country.
When more and more individuals start to frequent cafés, the opportunity is massive. It can be a very lucrative business in India to have a famous café in the broad and densely populated region. Before deciding to open our own café, you should equip yourself with the necessary expertise, especially for those who have experience in this industry. The areas of the raw material (coffee beans) must be fully understood, the quality and price of each zone must be compared and the customer's input on the quality of the material must be understood.
9. Franchise of an Existing Brand
The easiest way to set up your own company with minimal risks is through a franchise. For people with an entrepreneurial spirit with less experience, this is the ideal opportunity. You can open a fast-food franchise shop, a franchise restaurant or a café, a branded retail store, etc. Since the original franchisor has already formed the company, you benefit from their efficient work processes and a good revenue model. What's more, it's easier for franchise companies to secure loans than other companies.
10. Freelancing
In India, the gig economy is rapidly catching up and more than half of the country's new jobs are part of it. Freelancing has been an incredibly lucrative sector whether it was due to unsatisfactory, oppressive working conditions, or the appeal of flexible schedules. There are many websites that post hundreds of opportunities from blogging to virtual assisting with millions of users and are flourishing.
Currently, bloggers, website developers, and graphic designers are in high demand in India. But to become part of a gig economy, you don't even need to have these skills. You can explore several other freelancing opportunities. In order to start your own company without spending a lot of money, this will give you valuable on-ground experience.
2. High Margin Businesses In India
Some of the great Small Business Ideas To Start In 2021. (This is an indicative list on small items for the first time entrepreneur.)
- Handmade Candles
- Pickle Making
- Incense Sticks (Agarbatti)
- Disposable Plates And Cup
- Eco-Friendly Carry Bags
- Organic Vegetables
3. Highly Profitable Business In India
The easiest business to start is the Service Business if you're a beginner. It is basically selling your skill, labour or expertise in the place of goods and products. Let us look at some of the highly profitable business in India:
- Travel Agency
- Mobile Recharge Shop
- Breakfast Joint
- Cooking classes
- Card Makers
- Tour Guide
- Consultancy Services
- Translation Services
- Sports Coaching
- Food Truck
- Research-Based Business
- Pet Hostel
- Handyman Services
- Tiffin Services
- Scriptwriting
- Art School (Dance/Music)
- Graphic Designing
- Online Fitness Trainers
- Fashion Designing
- Social Media Strategist
- Tea Stall
- Advertising campaign developer
- Customised Jewellery
- Ghost writing
- Street-side book stall
- Photography
- Online Courses
- Wedding Consultants
- Event Management
- Youtube Channel
- Blogging/Vlogging
- Online Bakery
- Garments Tailor
- Juice Center
- Tuition Center
4. Marketing Ideas For Small Business
The rapid growth of the internet has created new options for the digitally savvy entrepreneur.
- Affiliate Marketing- Promoting other's product or services on your website or Youtube channel.
- Blogging- Writing high-quality content and SEO-friendly articles which attract high reader traffic.
- Web Designer- One who offers expertise to design and update websites.
5. Top 20 Profitable Small Businesses Worth Starting in 2021
To start a highly profitable small business in India you can begin 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.
- Cleaning Services
- Online Teaching
- Food Truck
- Digital Marketing Services
- Multilingual Services
- Event Planner
- Dance Studio
- App Developer
- Video Content Provider
- Content Writing
- T-Shirt Print Business
- Homemade Chocolate Business
- E-Commerce Store
- Transcription Service
- Travel Planning
- Organic Product Seller
- Cleaning Services
- Tutoring Services
- Delivery Services
- App Development
6. Key Takeaways
To conclude, there are a dozen low-cost business ideas that you can explore and can have a high return on investment with very little effort. However, you should choose the appropriate sector based on your core competency and local market demand.
Also, you need to have proper financial and accounting software to take care of your daily transactions in case of online or offline business. Finally, choose the best location for your business in case you are opening a brick and mortar store. A good location can make your business profitable within a few months.
Also read:
1) ‘Small’ is the new ‘Strong’!💪 Here’s why we should support Small Businesses
2) How to Know if Your Business Idea is Going to Be the Next Game Changer?
3) Top-5 Startup & Business Ideas for Indian villages
4) Top-14 Small Scale Industries in India
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.
7. FAQs On High Margin Businesses
Q. What are some of the most profitable business in India?
Ans- Some examples of the most profitable business in India are:
- Personal Training or Coaching
- Food Trucks
- Information Technology
- Repairing Services (Plumbing, Automobiles, Phone)
Q. What is the process of submission of applications for the Startup India program?
Ans- The application for the Startup India program needs to be submitted online at https://www.startupindia.gov.in/. There is no provision for physical submission of the application form.
Q. What are the most successful small businesses?
Ans- This is a list of the 10 most profitable small businesses:
- Offices of Real Estate Agents and Brokers
- Legal Services
- Real Estate Leasing
- Dental Practices
- Outpatient Clinics
- Financial Planning & Advising
- Bookkeeping
- Accounting
- Tax Preparation
- Storage & Warehousing
Q. Can an existing entity register itself as a startup entity on the Startup India program?
Ans- Yes, an existing entity can register itself as a Startup entity upon fulfilment of desired conditions.
Q. What is the best business to start in 2021?
Ans- These are the top 15 best small business ideas for 2021:
- Dropshipping
- Translation
- Home-based Catering
- Cloud Kitchen
- Virtual Assistant
- Online Tutoring
- Content Writing
- Career Coaching
- WordPress Support
- Takeaway meals/ Tiffin service
- Email Marketing
- SEO (Search Engine Optimisation)
- Website Testing
- Stock Photography
- Digital Event Planner
Q. What are the basic certificates required to open a café in India?
Ans- The basic certificates required to open a café in India are the FSSAI license, health/trade license, eating house license, shop and establishment license, and fire safety license.
Q. What are the most successful small businesses in India?
Ans- These are some of the top 20 small business ideas in India that guarantee success with low to no investment needed:
- Yoga Instructor
- Dance Trainer
- Refurbishing Antiques
- Tiffin Services
- Selling second-hand goods
- Reseller of Ecommerce
- Soft Skills training
- Coaching Classes
- Tour Guide
- Online Store
- Graphic Designing
- Web Designing
- Proofreader
- Online Baking
- Blogging
- Travel Agency/Air Bnb
- Makeup Artist
- Youtube
- Social Media Management
- Courier Service
Q. What are the best websites to find freelancing jobs?
Ans- There are many websites on which you can find freelancing jobs, like fiverr.com, upwork.com, freelancer.com, guru.com. You need to create a profile on these websites before applying for the jobs.
Q. What are some of the unique small business in India?
Ans- Some of the most unique small business in India that deliver solid profits are:
- Wedding Planning Business
- Healthcare business
- Renewable energy business
- Sage/Incense stick manufacturing
Q. Does the property management business need any particular certification?
Ans- There are several services which come under property management services like housekeeping services, electricity maintenance services, horticulture services, security services, etc. Depending on the services you provide you need to apply for a relevant license if any.
Q. Can you suggest some small business ideas in India under Rs 10000?
Ans- Here is a List of Businesses You Can Start Within 10000 Rupees in India:
- Candle Marketing
- Copywriting business
- Mobile Repair Shop
- Affiliate Marketing
- Tuition Classes
- Food Stall
- Homemade Healthy Sweets & Savories