“Business has only two functions – marketing and innovation.”
~ Milan Kundera
Do you desire to be an entrepreneur and become the owner of a successful business venture? You then need to invest in the right business and put in passion, dedication, and efforts. The very idea of being an entrepreneur can be exciting, as well as daunting. People think that being an entrepreneur is all about being your boss, commanding a team, and working at your own pace. However, this isn’t what entrepreneurship is all about.
The grass always seems greener on the other side, but in reality, it isn’t. Being an entrepreneur comes in hand with its risks and challenges. Not always the life of an entrepreneur is a bed of roses. It takes great patience, hard work, and dedication to ace at the game of entrepreneurship. For being an entrepreneur, the very first thing required is stepping out of your comfort zone.
The top brands in the markets were at one point in time, just startups. Tata was the brainwave of Jamsedji Tata, and he worked hard for it. His years of toiling paid off, and today Tata is a leading name in the industry. Leading
entrepreneurs are those who understand the changing game of business and marketing.
They ace at the game due to their ability to keep pace with the changing market trends and modify the business module according to the market demands. The ability to cope up with the changes is what increases the chances of survival. Only those who keep pace with the market changes manage to retain their foothold in the business world. The market can change within a fraction of a second and with the blink of an eye.
The business world is all about marketing and innovations. It is about how you advertise yourself in the industry. Top brands in the market retain their position because they keep pace with the changing trends. They not just advertise themselves but also opt for marketing strategies that separate they’re apart from the league.
Top coffee chain Starbucks don’t advertise their products rather they market experience. The coffee branch sells the experience of third place and not the coffee. In China, people consume less coffee, yet the country is Starbuck’s 2nd largest market. That’s all because the brand showcases the locations and not their cup of coffee. So if your planning to start with your own business, then this post is meant for you. Here is a list of the most profitable businesses in India that you can consider starting with.
1. Travel Agency
The tours and travel is a booming sector of the industry. The travel industry has witnessed a boast in the past decade. Travel opens up the mind, helps break free from the monotony of life, and gives a fresh perspective. The increasing demand for people to take a break from the mundane life and explore the distinct places has made the travel industry to earn manifolds. The travel industry has witnessed young entrepreneurs investing money in the business. The most cost-effective measure is to open up a home-based travel agency. The opening of a home agency in collaboration with the host agency provides benefits of pace, convenience. It helps one to earn higher commissions and also helps in keeping the costs low. With the differential rates across the country, investing in the travel agency business would yield profitable results sooner.
2. Incense stick manufacturing
India is a religious country where people are devoted to the almighty. The increased devotion of the people has given rise to the demand for incense sticks. The usage of the incense sticks in religious functions and for other happy occasions since ages. The incense sticks are also used in homes as fragrant fumigants and are known to possess insecticidal and antiseptic properties. The incense sticks manufactured in India are known for their fragrance, varieties, cost-effectiveness, and high quality. Indian incense sticks are exported to several Asian and European countries. The agarbatti is an export-oriented business. The manufacturing of incense sticks requires low technology and more workforce. It can be easily made in rural areas where the workforce is available at an affordable rate. The incense sticks manufacturing requires a low investment, covering the cost of machinery, working capital, production cost, and other expenses. Annually the incense stick business produces a profit of 30.94%. The raw materials for incense sticks are also sourced at a close range, making the business profitable.
3. Web designing
In the digital area, websites are essential for the growth and development of the business. The websites provide a specific address of a company on the internet. The websites also contain information about the business activities, products exported, or sold by the company to the customers.
The websites provide the customers with an idea about the company’s working, values, and principles. With the digital India campaign launched by the government of India, the companies of the country have spruced up their game by digitalizing their companies with the creation of websites. The websites tend to attract more customers. India has a large population of around 400 million people using the internet, making the country a potential market for website design business. A website designer also offers its services to local companies and sells its services to foreign companies. The cost of running a website designing company is low, as all it requires is designing skills.
Who doesn’t love eating? India is known as the food paradise because of the wide range of food varieties that are available in the market. The café business is witnessing a surge in recent years. India has a vast majority of youths, and the café business has attracted more youngsters. Every single day a new café is seen emerging at a corner of the city. Opening a cafe can be a good and lower-cost alternative for a restaurant business. Compared with restaurants, there is more room in the market for cafes in India. The café business can be started with little investment, including the cost of the infrastructure, the staff’s salary, the food ingredients, café furniture, cost of promotion, and business capital. Once the café business begins to take off, the investment can be easily regained. Selection of quality raw materials supply, indirect factors affect the revenue and profit of the café.
5. Tuition Centre
In the fast-paced world, the parents lack time to teach their kids due to the business of their life. That is when the tuition teachers come to aid. The tuition center is one of the most cost-effective business to launch due o thee zero starting cost requirement. The tuition teachers can take the classes from their own homes, which eliminates the expenditure on rent and supplies. The only effort that is req.uired is the ability to tutor children. Advertising of the tuition center on social media or through flyers and word-of-mouth fame helps garner recognition and acclaim.
6. Garment Industry
Investing in the garment industry is one of the most profitable ventures. The low workforce price helps in increasing the production of the garments. For the manufacturing of the garments, the raw materials can be sourced easily from within the country at economical rates. The cities like Kolkata, Mumbai, Delhi, Tamil Nadu, and Kerala have good tailors and provide workers at economical rates. The garment manufacturing process requires a small rented space, production machinery, electricity, great sewing, and stitching machines and electricity. The Indian garment industry produces a tonne of garments every year.
Who doesn’t loves baked goods? For those who love baking, opening up a bakery seems an appealing idea. Those with good baking skills can easily run an online baking business and earn several manifolds. The online baking business can be even run single-handedly in the initial phase. The bakery business requires a workstation, baking essentials, food ingredients, business capital, and packaging products. With the online food chains like zomato, food panda, and swiggy, one can easily associate with them to promote the business and get customers.
Blogging in the digital world is one of the most lucrative fields. Professional blogging requires minimal startup costs. To start with the blogging business, one needs to invest in a domain name and hosting space in the initial phase. The promotion of blogs can be done for free across various platforms of social media. To gather more attention and views, one can opt for the paid promotion on the right channels. For a better reach on needs to put quality content along with collaborating with top renowned bloggers for a barter promotion.
9. Youtube Channel
YouTube is a hotspot for creative and talented individuals looking for great returns with little monetary investment. YouTube allows its users to create independent channels and upload their videos for free. Youtube also pays to channels that become popular post monetizing them. Youtube, in modern times, is one of the most cost-effective ways to earn bucks. The youtube channel can be made on a plethora of genres, ranging from comedy, horror, thriller, action, romantic, fiction, and fantasy to many more.
India is a land of diversity which boosts of many cultures and religions. The plethora of religions and cultures leads to organize several events across the country. The event organization needs expertise, and the people, along with their families, cannot solely handle its management. The increasing events organizations across the country. The event management has become a most sought after profession these days. The event management also has several professionals that provide the people an insight into the profession. The event organizing is a profitable venture that can yield good results. The event managers barely spend any time in the office. The event managers handle the networking and managing of the venues. They also meet the sponsors, scheduled performances, and look after the last minute changes. The event managers demand depends on their brand image, popularity, market reputation, pricing, portfolio, workforce, quality of work delivered, and success story. The overall startup cost for building an event management firm is minimum and includes the infrastructure, staff, décor equipment, and transport.
11. Fashion boutique
The fashion industry is a thriving industry, not just in India but also around the world. People now days are more fashion conscious. The public desires to stay high on vogue by owning the top designer outfits. The fashion industry is a competitive one in terms of clothing and footwear designs. Every year, the fashion industry produces millions of tonnes of apparels that are sold not just in the domestic market but also in the international market. India also imports fashion products from foreign brands in the country. However, the foreign brands’ outfits tend to burn a hole in the pockets of the people, which is why not everyone can afford them. This is why the opening of a fashion boutique is a profitable business. The fashion store helps fashion designers to start on their own and launch their creation also gives the common people access to designer wears at affordable prices. The fashion boutiques need to be created, keeping in mind the designer’s designing ability and target audiences. The setting up of fashion boutiques requires investment in the sewing machines, designing equipment, and sourcing of the raw materials for the designer wears along with investment capital and the infrastructure cost. In the initial phase, one can start with the fashion boutique from their homes, and after getting success, one can set up a store for the business and hire a team for it.
12. Export and Import business
It is a known fact that the export and import business yields the biggest profits in the developing countries. The export and import business is the most profitable in India. The Indian manufacturers no just produce a wide range of products but also export them across the countries of the world. India is a developing and low-cost country, and its manufacturing cost is very low. The cost of production is low in comparison to the ones produced in western developed countries. Whether agricultural products, iron or steel, garments, agarbatti, tea tree oil, or medicines, the products made in India are known for their rich quality, fine texture, cost-effectiveness, and durability. India is considered as the premium market for the export and import of the products. The export of India has grown rapidly, and the country is giving a tough competition to the other countries. The export and import business yields a profit margin that is high and can range between 100%-300%. Indian goods are mostly exported to European countries, Asian countries, Canada, and the Middle East.
13. Real Estate
Real estate is the investment of capital for carrying out construction activities. The real estate business is about the purchase, receival, transfer for sale, lease, sublease of real estate objects. The real estate object is built, then there are and provide different services related to real estate. The real estate business provides real estate brokerage services, trading floor services, consulting services, and property management. Real estate services yield high profits. The building and selling of real estate require large capital, but the results yielded are high. While the real estate agent business requires less capital and the profit earned is slow in the initial phase but gradually begins to yield high results. The location of real estate is the principal and most important element that creates value and the basis for valuing real estate. The real estate business proves to be a highly profitable investment and business in India for the local entrepreneurs who are familiar with the properties and sites of the city. The business is also suited for wealthy foreign entrepreneurs. The yield of profits in the real estate business depends on the selection of the profit and the site location. Much of business in real estate flows from the selling of office buildings and residential areas on which property is developed.
14. Wedding planning
India has a large population of which most the population boosts unmarried people. This is when the wedding planning business comes to aid. Choosing a wedding consultant career yields high income. The wedding consultants and planners help couples and their families to plan for a wedding. The wedding market is a flourishing industry and provides a high return. In the wedding planning business, the location is one of the major factors determining the business’s success. The other factors that impact the business’s money flow are the wedding planners’ ability, skills, workforce, contacts, portfolio, market reputation, brand image, and success rate. The wedding planners need to be well-versed in the different wedding styles and ceremonies around the world and India to provide a satisfying result.
15. Jewellery Shop
India is known to be the largest destination for the import of gold and silver. Every year around $55.7 billion of gold and silver are imported to India. Indians are lovers of gold and jewelry. The Indians believe that jewelry as their valuable assets. The jewelry is associated with wealth and social status. India is considered to be the world’s largest gold consumer. Indians not just love gold but also silver, precious stones, diamonds, and crystal jewelry. This is one reason why a jewelry business, no matter whether it is big or small, turns out to be a profitable endeavor. So if you have capital, you can easily start over with a jewelry business. Jewelry in India reflects social status and class. Thus the business would yield great rewards.
Are you planning to start with your own business? Looking to collaborate with manufacturers in India? Reach out to us at exportsconnect.com by filling in the form. We have a list of the leading manufacturers in India that you can collaborate with for business expansion.