13 Most Successful Businesses in India 2018
What do you prefer a 9-5 job or flexible working hours?
Do you want a fixed salary or an unexpected profit and maybe loss at the end of the month?
Are you willing to take chances, to make investments or you rather play safe? All these questions arise when one is trying to fend for a livelihood.
In fact, it is always not about trying to make ends meet.
Sometimes we want to establish ourselves, seek financial independence and look to stand up on our own feet. In the case of women, small businesses make more sense to venture into for many reasons.
Small businesses are slightly more flexible in nature than full -time salaried jobs.
Those who are self-employed tend to experience a higher sense of satisfaction and happiness from their work. Also, when viewed from a larger perspective, starting businesses is also good for the economic development of society. It has the scope of increasing employment and bettering the financial lives of other people.
In recent years more and more people prefer to invest and start up their own business. With the widespread of the internet and social media, it has become easier to channelize, market and sustain a small business. Also, the biggest advantage of beginning a small business is that you are your own boss! You get to take your own decisions, decide when you can take an off and control your workflow smartly.
So what are the best businesses for beginners who want to start and make a mark in the world of business without investing too much capital?
Look at some of the biggest businesses in the world. Many of them began with humble beginnings. Where Facebook started out in a Harvard dorm, Google began in the garage. This proves that a profitable and successful business can be started with minimal capital. All it requires is skill, vision, courage and a sound knowledge about the business itself.
Which brings us to the question of what are the most successful small businesses in India today? It is important to know these businesses because they have scope and opportunity for beginners.
Here is taking a look at some of the most successful small businesses today that also hold lucrative prospects for beginners in business.
It is hard to imagine people ever getting tired of eating! Restaurants and local food joints are very common on our streets, yet newer ones also open up. All types of cuisines are welcome and experimented with. Restaurants may need a large capital investment but small local joints do not. If you have the talent and taste for cooking and do not want to invest in renting any sort of a place, then catering is a great idea.
One can take orders, cook at home and deliver it to the required location. Catering is, in fact, one of those small businesses that experience a faster growth rate than many others. Supplying food for parties, corporate office lunches or even delivering at railway stations are some of the best ways to begin and expand on this business.
#2. Travel Agency
The tourism industry is on a high with more and more people exploring new places, taking vacations and traveling. The world has become more accessible and this is a great time to start a travel agency since there are always clients out there. There are many host-agencies that offer tie up with them and help in almost all the back-end work, such as, giving offers, booking tickets and so on.
The investment of signing up with these agencies usually does not exceed more than 7000 to 8000 rupees. One can either operate from home or an office.
#3. Tuitions and franchises
Tuitions have always been an integral part of the Indian education system. Many parents put their children in tuition classes. The classes are either to finish off their homework or prepare for their exams. If you enjoy teaching, then opening up a tuition center in your home is an excellent idea. Tuitions at home or centralized centers that hire teachers are one of the most successful small businesses.
Also, a number of educational institutions offer franchises. With an initial investment, the study material is provided by them. Taking a franchise and operating under their guidance is also perfect for beginners.
#4. Interior Designing
To become an interior designer one needs a creative mind. There are short courses for learning the subject, but if you are someone who likes rearranging your furniture or help your friend set up a new house, then interior designing may be a good business venture for you.
#5. Retail Business
Retailing includes a vast spectrum of the economy, however, it is also very doable if one is looking at starting a small business. Buying products from wholesalers and then selling them either online or by word of mouth requires a small investment. Also, there are certain products that are specific to particular regions of the country. For example, bandini cloth is made in Gujarat but not easily available elsewhere.
Buying the product from its place of origin and selling it where it is a rarity is another way how retailing can work effectively for a small business. Women usually have their maternal and marital homes in different places and can use this connection to explore the markets.
(Also Check out these 17+ Proven Business Ideas For Women To Start In 2018 )
Blogging requires a knack for writing and needs the least amount of investment. Armed with a laptop you can write from the comfort of your home, monetizing your blog and market it on various social media platforms.
#7. Real Estate Development
The real estate market is on a rise. If you have a reasonable amount of capital and knowledge of land and construction then starting a business in real estate is worth a try. You can invest in your local estate projects and reap the benefits of the sale. Also, you can start a business on property management helping the customer with documentation and procedures.
#8. Recruitment Business
There are those who are looking out for jobs and those who are seeking employees. In such a scenario, setting up a recruitment firm is beneficial and in demand. The firm acts as an intermediary that brings together employers and employees on one platform. This requires minimal capital but a good knowledge of the existing professional market.
#9. Event Management
If you are good at multi-tasking, managing and following up on different things, event management is your piece of cake. This business venture requires you to have contacts with various workforces and creative ideas to plan an event and manage it well. Again, it requires not much capital and your work speaks largely for your talent and management skills.
(However, if you require a loan to start your business, Here's a Detailed Guide For Business Loans For Women In India)
#10. Smartphone Sales
Remember how every corner shop was once a phone recharge center when we were growing up? Today though most recharging is done on the phone itself shops that sell and repair smartphones have become the need of the hour. Every household has at least more than one smartphone and though there are online shops, phones are still largely bought in person. One can tie up with service providers and train in repairing the phones. With a basic understanding of the device, one can set up a smartphones shop and repair center, which is today one of the most profitable small businesses in India.
#11. Skill-based classes and boutiques
Though this is most relevant to women, men too can try their hand at it. In fact, anyone who has a talent or knows a skill better than others can impart their knowledge through classes. For example, one can open up dancing classes, phonetic classes or cooking classes. If you are not exactly the teaching type, then you can also sell your handmade products. Embroidery belts, cloth handbags, designed jewelry, card making, candle making, baking items are just some of the products that can be made or learned and then sold either online or in person.
(Don't miss out on this 5 Point Checklist To Help You Start Your Own Boutique)
#12. Uploading Videos
Social media platforms such as YouTube and Instagram are taking the world by storm. Uploading videos can actually fetch you money and is a successful and profitable small business to start. Videos showcasing your own talents, such as fitness exercises, diet plans, recipes, handcrafts and more can be uploaded and marketed on these channels. This becomes a profitable small business through affiliate marketing or if your video is extremely popular.
#13. Consultancy Services
There are different consultants who are experts on their subject. For example finance consultants’ advice and guide other businesses on matters of accounting and taxes.
We hope that this list of the most profitable businesses in India helps those who are looking to begin business on their own. The most successful small businesses are usually also the best businesses for beginners.
As for taking the plunge it is rightly said,
‘Knowing is not enough, we must apply. Wishing is not enough, we must do.’
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