How many times have you thought of quitting your boring desk job and start something of your own? While it is good to harbor an entrepreneurial ambition, deciding on a profitable business idea is altogether another thing. Then there is also the question of raising sufficient capital to fund your business. While most people choose to opt for a business loan as a viable solution to this problem, the high business loan interest rates might not be affordable for most people. If you are someone that falls under this category, fret not! Below discussed is a list of creative small business ideas that can help kick start your entrepreneurial dream-
With the increasing academic pressure on students to score high marks, coaching classes have emerged as a good business idea. These days, coaching classes are not limited to academic studies. The coaching class business has further expanded into competitive exam training, English-speaking courses, foreign language classes, personality training, etc. If you can build a good brand for yourself in either of these domains, you can successfully grow your coaching class business.
If you are someone that loves planning parties, handles invitations and catering with ease, ensures that everyone at the party is having a gala time, then you must seriously consider a career in event planning. In a country like India, where every small occasion is celebrated with gusto, the event planning business is not going to face any drop in popularity. Even a small event planning business where you can arrange for local community festivals or parties can earn you handsome profits. In case you want more funds for your business, you can apply for business loan. You can enjoy various benefits of business loan.
If you are good at photography, then you can consider making it your part-time profession. You can run a portrait studio from your home, or you can also consider covering photographic events such as weddings. However, before you venture into the wedding photography business, make sure that you have a well-crafted business plan in place. Make a check-list of the photography tools and equipment you would require on the wedding day beforehand. Also, you can seek the help of photography experts by hiring them on a contract basis.
Apart from capturing photographs of the wedding day, you would also need to take care of the post-production such as photography-editing. Hiring a specialist to take care of the post-wedding work-flow can make your task easier. Lastly, make sure you come up with creative ideas to promote your photography business. This will help you expand your client base. Wedding photography business would require a certain amount of investment and thus, you can consider availing a business loan to meet the fund requirements.
Mobile App Developer
With digitization and technological advancements, everything has become a lot more convenient and easily accessible. Right from shopping, banking to purchasing groceries and booking hotels, almost everything can be done online with the help of mobile applications. As a result of this increasing demand for mobile apps, mobile app development can prove to be a viable and lucrative business.
Therefore, if you are good with software, you can consider trying your luck in the mobile app development business. It is advisable to conduct proper market research before initiating such a business. Also, you must choose the most effective platform strategy for your business. You must identify the core components of successful mobile development firms and try to implement those in your business.
Food catering business
Food is a big part of our Indian culture. Every occasion, be it weddings, birthday parties, or anniversary celebrations, requires the help of food catering services. Moreover, nowadays, many youngsters have to stay away from home because of their job commitments. These individuals provide a large customer base for a food-catering business.
You might notice a new beauty salon emerging every other day in your locality. This is because the beauty business is fast becoming as one of the most profitable businesses in the Indian market. Since many urban women are working and joining the corporate world, they are increasingly giving a lot of importance to their appearance. Not only ladies but even men men visit salons and spas to keep themselves well-groomed. If you have the necessary grooming skills, very little investment is required to start your own beauty salon.
Because of increasing health consciousness amongst the general population, the popularity of fitness centers and health spas has gained momentum in recent years. Any person who has experience in fitness training can start his/her fitness center. Buying expensive gym equipment can prove to be a one-time investment on which the gym owners can earn handsome profits through gym memberships. If you are finding it difficult to fund these gym equipment, you can open a pilates or yoga studio, which requires minimum investment but guarantees a high return.
While these are just a few examples of creative business ideas, the list of business ideas with minimal investments can further include a lot more options. Moreover, while you can easily avail a business loan to get started, you also need to make efforts towards improving your networking skills, knowledge about your niche business areas and market demands.
Apply for the Bajaj Finserv Business Loan available on Finserv MARKETS and get an instant loan up to INR 15 lakhs. With Finserv MARKETS, you can avail competent business loans with flexible repayment options, unlimited withdrawals, and the facility of interest-only EMI. To know more about the business loan eligibility and the documents required, get in touch with our representatives at Finserv MARKETS today!
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