Thanks to the advent of the internet, changes in consumer preferences and the development of niche markets and products, gone are the days when you needed to make a big investment in labour, equipment or land to set up a successful business. More individuals are now becoming entrepreneurs and setting up businesses which require low investments but generate high returns. Sound too good to be true? Well, it’s not! Entrepreneurs of today focus on improving the rate of investment for their businesses and you too can start your own business with minimal investment. Here are some small business ideas which require a low investment but will be able to yield a high profit for you:
1. Wedding Planners
The wedding industry in India is currently estimated to be worth Rs. 300,000 crore and estimated to be growing at a rate of over 25-30% annually. Given that the Indian wedding industry is such a huge and flourishing market, more and more wedding planners are popping up on the scene to help cater to this growing demand. If you have a knack for event planning and decoration and are good with coordinating with vendors, you should consider starting your own wedding planning agency. All you need to do is set up a website and get the word out that you are offering your services and you will be in business.
2. E-commerce website
India is the fastest growing market for the e-commerce sector. In fact, as per the India Brand Equity Foundation, the e-commerce market in the country is expected to grow from $39 billion in 2017 to $120 billion in 2020. As per market research, the growth of the industry has been triggered by increasing internet and smartphone penetration and is expected to continue to grow. India’s total internet base is expected to grow to 829 million by 2021.Take advantage of this growing sector and start selling anything you have a knack for. It can be anything from clothing to jewellery to shoes or everyday household items or perhaps even a niche market you have spotted.
All you need is to set up a website and rack up some inventory and you are in business. If you are worried about how to obtain financing for your inventory, leave all your worries to Finserv MARKETS. Finserv MARKETS can help you access leading products such as the Bajaj Finserv Business Loan for affordable access to capital. Bajaj Finserv loan interest rates are competitive and can reduce the additional financial burden that comes with taking on a business loan.
3. Cooking Classes
Do you love to cook and explore new recipes? Does the sound of trying a new dish sound exciting to you? Well, then you can share your passion with others while making some money by hosting cooking classes. Share your favourite recipes with your students and pass on your passion for cooking. All you need to do is make some space in your kitchen, buy some groceries, print out guides and you’re in business!
More and more women are now joining the workforce, contributing to the ever increasing demand for daycare or babysitting facilities. Opening a daycare will require you to invest in certain supplies, infrastructure and facilities, but you will be able to generate considerable returns on your investment in a timely manner. If you do not have the resources to invest in equipment, you can start off by offering babysitting services and use your client base and income to start daycare eventually.
5. DJ/Music Contracting
All events whether corporate, personal or professional require music. If you have a good ear for music or are a professionally trained DJ, you should consider setting up your own musical service for events and parties. While you will need to invest in professional equipment including mixing tables, turntable and a laptop, other expensive equipment is usually supplied by the event space.
With the advancement of technology and digitization, app development has gained massive popularity. Application development is the process of developing a computer program that can help execute different tasks required by a business. Thus, if you have good software knowledge, you can consider venturing into app development with little investment.
If you have excellent styling skills and you keep yourself abreast with contemporary looks and trends, you can consider establishing a beauty salon. You must conduct proper research before starting up this business.
Tutoring can be done either online or offline. You can offer computer tutorials, language tutorials, or academic tutorials as per your convenience and skillset. Online tutoring over the internet provides more flexibility and is time-saving as compared to offline tutoring. Moreover, online tutoring would require low investment and allow you to work with individuals across different time zones.
If you are into fitness and have a proper understanding of the exercise and diet routine that needs to be followed for a good physique, you can consider becoming a part-time fitness trainer. You can fund this business idea by availing a small business loan. You can apply for a business loan available at FInserv MARKETS from the comfort of your home. Instant approval and quick disbursal are some of the added advantages of availing a Bajaj Finserv Business Loan
Affiliate marketing is a form of digital marketing that can be started with little investment. In affiliate marketing, you are required to refer someone to buy any online product, and if that person buys the product through your recommendation, you will receive a commission. If executed properly, affiliate marketing can serve as a good source of passive income.
So what are you waiting for! Explore these and other small business ideas and get started on an exciting new journey to becoming your own business. In fact, thanks to Finserv MARKETS, you no longer have to worry about the hassle of getting a business loan to kick-start your business. You can apply for a business loan online, get approval within minutes and have the funds in your account within 24 hours! You can also calculate your EMI outflow with the help of business loan calculator.
Finserv MARKETS, from the house of Bajaj Finserv, is an exclusive online supermarket for all your personal and financial needs. We understand that every individual is different and thus when you plan to achieve your life goals or shop for the gadget of your dreams, we believe in helping you Make it Happen in a few simple clicks. Simple and fast loan application processes, seamless, hassle-free claim-settlements, no cost EMIs, 4 hours product delivery and numerous other benefits. Loans, Insurance, Investment and an exclusive EMI store, all under one roof – anytime, anywhere!