Upcoming Business Ideas In India [Future Businesses In 2022]
Are you planning to launch a business of your own? Then, it’s the right time to kick-start your entrepreneurial journey. As per the latest report by Venture Intelligence, Indian startups have raised more than $25 billion in 2022. The most surprising part is that these startups garnered the last $5 billion in just over 2 months. Are you still searching for an innovative business idea? No worries. Here we present a list of amazing, upcoming business ideas that will help you make big bucks in 2022. The best part is that these are low-cost ideas that fit perfectly within your budget.
Top 11 upcoming business ideas for 2022
Let’s delve deep into the 11 promising startup business ideas that will make your entrepreneurial dream a reality.
1. Online teaching
With the outbreak of the Covid-19 pandemic, a major part of the learning has shifted online. Choose a subject you are knowledgeable and really passionate about. Irrespective of the location, you can conduct classes via your YouTube channel. Also, teach students on online learning platforms such as Byju’s or Udemy. If you don’t have the necessary expertise in any of the subjects, then think about teaching English as a foreign language to students abroad.
2. Cybersecurity services
Are you a techie with expertise in hacking, software, and hardware? Then it’s the right time to launch your own company offering cybersecurity services. It’s shocking to notice that in 2020, a whopping 1.1. million cyber-attacks were reported in India. Many of the corporates are facing the threat of cyber-attacks and are investing huge amounts to safeguard their systems and data.
3. Cloud kitchens
Setting up your cloud kitchen or food delivery service is one of the wonderful upcoming business ideas for 2022. Nowadays, people prefer to order food from the comfort of their homes. Unlike running a restaurant, you don’t have to employ servers, cleaning staff, etc. All you need to have is a kitchen, a team of chefs, cooking equipment, and dedicated delivery staff. Customers place orders for food via call centers, third-party apps, and social media platforms. Market your offerings via your website, Facebook, and Instagram pages.
4. Mobile wallet payment
In the post-Covid world, Indians no longer prefer using cash payments. They have become quite concerned about contracting the Covid-19 infection. As per the report by RedSeer Consulting, by FY25, the volume of mobile payment users in India will rise by 5 times from 16 to 80 crores. Explore the possibilities of developing a mobile wallet payment platform. Research and gather more details on how software programmers work to develop mobile payment solutions. Don’t be worried about the huge costs of setting up your software company. If yours is a viable business idea, then there are always chances of securing funding from venture capitalists.
Investment cost and profit margins for starting various businesses
S.No | Business | Profit Margin | Minimum Investment |
1 | Online teaching | 100% | Rs.50,000 |
2 | Cyber security services | Up to Rs.10,000 per hour | Varies based on the services offered |
3 | Cloud kitchens | Close to 10% | Rs.6 lakhs |
4 | Mobile wallet payment | 2% per transaction | Rs.15-20 lakhs |
5 | Pet day-care | 20% of the total revenue | Rs.5 lakhs |
6 | 3D printing | Depends on the services offered | Rs.4 lakhs |
7 | Blogging | Rs.10,000 to 15,000 a month (as a beginner) | Rs.1500-2000 |
8 | Travel services | 5-7% | Rs.1,00,000 |
9 | CCTV and surveillance equipment | Commission charged varies based on the type of camera installed | Rs.1,00,000 |
10 | Customized gifts business | 50% | Rs. 5000 |
11 | Affiliate marketing | 4% to 8.5% commission on sales (on Amazon) | Rs. 40,000 |
5. Pet daycare
If you are a pet lover, check the possibility of starting a pet daycare business. Numerous office-going professionals want someone to take care of their pets during the daytime. Also, there are pet lovers who travel abroad or stay away from home for a long time. Keeping them in mind, offer services such as grooming, taking pets for walks, feeding them on time, etc.
6.3D printing
The technology of 3D printing is gaining enormous popularity in India. It is fast replacing even the prototype printing technology. If you have excellent knowledge of the digital printing industry, then seriously think about the 3D printing business. All it costs is buying a high-quality 3D printing machine.
7. Blogging
Are you a diehard food lover? Then food blogging would be the best business to start in 2022. Visit various restaurants serving a wide variety of cuisines. Post your reviews on your Facebook and Instagram pages. Once you have earned a good brand name, then reputed restaurants will invite you to review their food. Thus, you can make handsome money through food blogging. If you are a travel enthusiast, then it’s better to choose travel blogging. The list doesn’t end here. There are several other options such as fashion blogging, music blogging, tech blogging, etc.
8. Travel services
After a lull caused by the pandemic, there is a surge in domestic travel. Travel and tourism behemoth Thomas Cook is witnessing a month-on-month growth of 150% in India. Hence, it’s the right time to launch your travel agency business. Provide services such as booking flights, trains, arranging tour and travel packages, accommodation, etc. Have tie-ups with hotels at various tourist spots. If you don’t have the risk appetite, you can work as a commission agent for reputed travel agencies. Earn a commission for each reservation you make.
9. CCTV and surveillance equipment
Nowadays, people are becoming increasingly concerned about thefts and attacks by criminals. Be it at home or in commercial spaces, most of them invest in setting up CCTVS and surveillance cameras. As per the report by Mordor Intelligence, the CCTV market in India is forecasted to record a Compounded Annual Growth Rate of 22.35% from 2022 to 2026. With a low investment, you can set up your CCTV and surveillance camera business. Approach house owners as well as business establishments in your town for installing the devices. Keep in mind that it’s an evergreen business, and you can expand your business gradually.
10. Customised gifts business
Everyone would love to present their loved ones with a customised gift. There is no need to even have a physical store for setting up this business. Just by building a website, you can start this business at a very low initial investment. You just need to buy certain gift articles and the various accessories used in customisation. Especially on occasions such as Valentine’s Day and Christmas, there will be an enormous demand for such products.
11. Affiliate marketing
By starting an affiliate marketing business, you will be promoting products of other people. Depending on the sales, you can earn commissions. Currently, the hottest platform for affiliate marketing is Amazon.
Conclusion
After going through the above points, now you would be having a fair understanding of the various upcoming business ideas. With the help of the tips and techniques discussed above, setting up your own business is pretty easy now.
| We hope our article turned out to be useful for you. For more such informative content, you can visit these linked articles as well: | ||
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FAQs
Q. What are the various documents I need to procure for starting a business in India?
Ans. Please note that you need a certificate of incorporation, shareholder agreement, founders agreement, no objection certificate (NOC), company PAN card, TIN, GSTIN, non-disclosure agreement, and employee offer letter.
Q. How much would it cost to incorporate a private limited company in India?
Ans. Depending on the number of directors, members, authorised share capital, and professional fees, the amount involved in the incorporation or registration of a private limited company would come somewhere in the range of Rs 6,000 to Rs 30,000. Also, note that the professional fees may vary depending on the complexity of the task.
Q. How can I raise funds for setting up my business?
Ans. There are several options, such as self-funding, crowdfunding, approaching angel investors and venture capitalists, using credit cards, arranging working capital loans, being part of a startup incubator, applying for term loans and NBFC loans, etc.
Q. What is seed capital?
Ans. The term seed capital stands for the amount raised to develop an idea for setting up a business or building a new product. Generally, seed funding meets only the expenses involved in creating a proposal. After obtaining seed financing, startups have to get in touch with venture capitalists to get additional funding.
Q. Can I start a company while being employed with another company?
Ans. It all depends on the agreement you have signed with your current employer. If your employment contract does not forbid you from starting a new company, you can go ahead and set up your own company.