For any enterprising individual with a budding start-up idea, the lack of finances always dampens the plan. In order to start a business, you require substantial capital to set up the infrastructure, buy raw materials, pay worker wages, and market the product. While you can always opt for a business loan to fund your business, discussed below is a list of business ideas that require minimal finances-
Blogging/ Vlogging/ Youtube Channels
If you are passionate about any topic or social issue, you can write a blog on it. If people find your blog entertaining or informative, the traffic generated on your blogs could help you earn sufficient money. Similarly, with most businesses going digital these days, a blogger/vlogger gets handsomely paid for promoting any company product. Youtube is another platform that you can use to earn money. Youtube influencers earn a lot money to promote the products of various brands. Keeping the audience’s taste in mind, and working efficiently towards it, you would be able to build your own influencer brand within no time.
If you have a knack for clicking amazing photographs, you can hone your skills and build a successful career out of it. These days, the professional photography business is enjoying immense popularity. With pre-wedding photo-shoots becoming a rage, the need for professional photographers is further increasing. Moreover, you can take your photography business further by opening a professional photo studio and leasing your services to several modelling as well as advertising agencies. In case you want more funds for your business, you can apply for business loan. You can enjoy various benefits of business loan.
With a large number of working population migrating from their hometowns to metro cities, the demand for a food catering business has increased ten-fold in recent years. Moreover, with the number of weddings, anniversaries and other grand occasions celebrated in almost every Indian household, the demand for a catering business is never going to cease. The only important skill or expertise that you require to successfully run this business is to always deliver great quality food. Once you manage to gather a loyal customer base, you will find your catering services to be in great demand.
With rapid increase in health awareness, the millennial population is fast heading to the fitness centers and health spas to take better care of their health. In case you are a fitness freak who loves to spend his/her free time at the gym, you can use your passion to turn it into a successful business venture. Starting a gym or a fully equipped fitness center requires a one-time investment in proper fitness equipment. However, with an increase in memberships (majorly youngsters), your initial investment in these equipment can swiftly get covered in no time.
While these are just a few examples of low cost business ideas, an ambitious businessperson should not limit himself/herself to only these. The key thing here is to go with your gut feeling about any particular small business idea and make a detailed research about the total finance required, consumer demands and future prospects before approaching any business loan provider.
Planning to start your business but lack of funds are stopping you to take the big step? With the Bajaj Finserv Business Loan, you can avail loans up to INR. 15 lakhs and get them approved in under 3-minutes. With Finserv MARKETS offers, you can avail customized loans for all your financial needs, along with exclusive offerings and a range of repayment tenures. To know more about our business loan interest rate and eligibility, visit us at Finserv MARKETS today!
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