Starting a business of their own is a dream for many, but only a few are able to materialize their plans. While some are unable to secure the required financing, others get stuck at articulating their business ideas. Though financing a business has become simpler, thanks to business loans, conjuring a big business idea is not that easy, as it seems. However, you don’t have to rack your brains for a good business idea.
Textile Unit – Textile is a booming industry in India and contributes to 2 per cent of India's GDP and to 15 per cent of export earnings. However, to open a textile unit, you would need to manufacture different types of fabrics and supply them to the fashion and apparel industry. Once you secure the required investment, you can set up the textile unit in an area that is well connected and close to the demand centres.
Rice Mill– India is an agrarian economy and rice is one of its major produce. Our country is also the largest exporter of rice, which makes rice milling a profitable business. A rice mill plant is fairly easy to set up once you have arranged for the capital. Rice mills usually need a setup of around INR 50 – 60 Lakhs.
Beer and Wine Making– In the past few years, the wine industry in India grew to become a $30 billion industry for both domestic and international wines. Hence, a beer and wine business is a great idea for a start. Even if you don’t know how to brew beer or wine, you can always learn from the experts.
Manufacturing Fabrication Plant– Metal fabrication refers to the process of creation of metal structures by welding, cutting, bending and assembling processes. Fabrication is required for all types of manufacturing industries. However, you will require engineering skills, high-end machinery and skilled manpower for this business. Although this is a capital-intensive business idea, hence a Bajaj Finserv business loan can help you set it up in arranging the capital at competitive interest rates and also quick approval.
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Crane and Lifting Service – Lifting equipment and related services are always in demand, especially in the construction industry. However, you must be ready to invest in industrial cranes and hoists to begin this business.
Transportation Services – A transport business is relatively easy to start and can be scaled as you acquire more profits. You can either start a cab service, bus service or even a bike rental as per the transportation demand in your area.
Car Parking Services –Given the rapid increase in personal cars in the country, finding a parking space is not only difficult but also expensive. Hence starting a parking service business is a good business idea If you live in a city. You can either take the land on lease or use your own land for the car parking business.
Marriage Halls – A marriage or banquet hall business is one of the most lucrative businesses in India. If you have a substantial amount of funds in hand, you can use it to buy or build a party/marriage hall to accommodate 800-1000 people. In India, there’s no dearth of events and celebrations. Hence, owning a marriage hall can fetch you a hefty income.
Luxurious Car Services – This business involves buying luxury cars and leasing them. Many people rent luxury cars on special occasions like marriages and birthdays. This business is especially lucrative in metro cities.
Electronic Store – We now live in the electronic age where every aspect of our lives is tied to electronic devices. For starting an electronic store, you will need to invest in various types of electronics right from home appliances to mobile phones and cameras.
Art and Collection Shop – If you are a professional artist, you can easily start your own art and collection shop. However, this type of business will require substantial marketing efforts so that more and more people are aware of your business. The investment can range from INR 30 Lakhs – 50 Lakhs.
Night Club – If you are a party animal and love music and dance, you can make others groove by starting a nightclub. Night clubs are quite in demand in metro cities as well as small cities. However, starting a night club requires a huge investment as licence, premises and sound equipment are essential.
Poultry Farm – Poultry farming has become a popular business enterprise in rural areas. Besides meat and eggs, poultry also yields manure, which is valuable. Hence, this becomes an added profit for the business. You will have to invest in feeders, farm house, egg tray, lighting instruments, crates, incubators, waste disposal system and more.
Solar Farm – Solar is the future of energy not only in India but in the world. Hence, large solar farms are being built all over the country to generate renewable electricity. The electricity generated from a solar farm can be used for both personal and commercial purposes. However, building a solar farm is a capital intensive business, but the long term returns are worth the investment.
Auto Modification Services – If you are an automobile enthusiast, this is a wonderful business idea. Car and bike owners who are passionate about driving, love to modify their vehicles and add a personal touch to it. They are even willing to pay a hefty price for the modification. However, this business requires a creative mind and a large investment for the modification equipment.
Gold Ornament Shop – In India, people buy gold for every occasion, right from birthdays and anniversaries to religious ceremonies. Hence, starting a gold ornament shop can be a lucrative business opportunity, provided you choose the location carefully. You need a strong finance to start a gold ornament business as it include all the licenses, the shop, the gold stock, the artisans and many more things.
While all of these businesses require a huge investment, it can be obtained easily with the help of business loans. So you don’t need to exhaust your savings for starting your own business. By opting for a Bajaj Finserv Business Loan, you can bring your business ideas to life with funding up to Rs 30 lakh. Additionally, you can enjoy multiple benefits such as pre-approved offers, online account access, collateral-free loans and much more. To apply or know more about Bajaj Finserv online business loans, visit Bajaj Markets.
You can also read about myths related Business Loan calculator.