Are you someone that harbors the dream of starting your own retail business, but can’t decide on a profitable business idea? Well, detailed below is a list of business ideas that can help you earn handsome returns on minimal investments.
Stationery items are always in demand, from school students to corporate professionals. This is a type of business where no special skill or big investment is required. The best location for a stationery shop is near schools and colleges and corporate hubs.
Opening a retail pharmacy is a very profitable business idea. Even a small neighborhood pharmacy could do good business. Pharmaceutical products are always in demand. It is also a perfect opportunity for those who have experience as pharmacist.
Flowers are the most preferred gift for special occasions and hence, investing in a flower shop can prove to be a lucrative retail business in the long run. Strong interpersonal skills combined with good business sense, can contribute significantly to the growth of your flower shop. However, before you set-up a flower shop, it is essential that you learn the trade of a florist. To learn the same, you can either go to a community college that offers certification programs in floral design or assist a florist for some time. Setting-up a flower shop may require some amount of investment, which you avail by applying for a business loan. You can also promote your flower shop online by making efficient use of social media.
The gaming industry has evolved massively in the past decade. With lots of new games being introduced, there is a wide scope for gaming parlours in today’s time. Therefore, if you have an interest in gaming and you keep yourself updated with the latest launches in the gaming industry, you can consider setting up a game parlour. To set up a gaming parlour, you may have to rent or buy a place, purchase computers, smartphones, headphones, consoles, etc. All of this may require a large amount of money, and so you can consider availing a business loan for the same. With leading financial institutions, you can avail a business loan online from the comfort of your home. Quick approval and swift disbursal are some of the added advantages of availing a business loan from a reputed lending institution.
Accessory Shop/ Boutique
If you are someone that is more on a creative side and loves working on grooming and fashion, you can open your own boutique chain. Similarly, there is always a demand for exquisite accessories and unique handbags to go with your outfits. Starting your own boutique would require taking a minimum business loan for buying raw materials and setting up your showroom. However, the returns on these investments are very high.
Bakery products are in high demand for occasions like weddings, birthday parties or small get-togethers. This is why, you would find a bakery shop in almost every locality. As compared to opening a restaurant or starting a hotel business, a bakery shop requires much less initial investment. Moreover, with the constant celebrations of numerous occasions in India, there is always going to be a demand for bakery and confectionery products. In case you want more funds for your business, you can apply for business loan. There are many benefits of business loan.
Reading books is a favorite hobby for most individuals. Thus, a retail bookstore, selling printed books could prove to be a profitable business. However, you will have to do considerable investment for this business as opening a bookstore would require you to rent a considerably large space and constantly update your inventory with the latest publications.
Starting a beauty salon could prove to be one of the most successful business ideas. As more and more youngsters are joining the corporate world, they are increasingly focusing on being presentable and well-groomed in their work environment. Earlier, the primary clientele for beauty salons and spas were limited to the female population. But today, there is an increased demand for salon and spa services among men also.
While these are just a few examples of retail business ideas, there are still a million different ways to start your business. Apart from raising sufficient funds to build your business (which can be successfully managed by getting a business loan), an entrepreneur also needs to take care of aspects such as networking, building a strong organization structure and do efficient marketing of their products to run a successful business.
If you feel that you can start your own business with some of these retail business ideas, why wait? Visit Finserv MARKETS today and apply for the Bajaj Finserv Business Loan! With Finserv MARKETS, you can enjoy flexible repayment options, along with an affordable interest rate. You can also get exclusive offerings on your loans at zero collateral. To know more about your business loan eligibility and the steps to apply for a Bajaj Finserv Business Loan, get in touch with our representative today.
“Finserv MARKETS, from the house of Bajaj Finserv is an exclusive online supermarket for all your personal and financial needs. Loans, Insurance, Investment and exclusive EMI store, all under one roof- anytime, anywhere”!