Starting a business, albeit a small one is a big step for most as it may one may have to forgo the comfort and security offered by the corporate jobs. Besides, every business needs initial capital, which can be difficult to arrange from personal savings. But thanks to the wide availability of small business loans, starting a business is no longer a dream for entrepreneurs across the country. Moreover, the government has recently launched numerous initiatives like Make-In-India and Start-Up India to promote the ease of doing business in the country. So if you are thinking to start your own business, now is the right time. Here are 10 successful small business ideas to give you a head start:-
Tuition/ Coaching Classes – Everyone has a favourite subject in school. Whether you were a math wizard, a Chemistry expert or good with languages; a room, few chairs, a board and marker is all one needs to start giving tuitions. There is always a demand for learning, so starting coaching classes is a viable option. You can start a tuition or coaching class with a small business loan and expand your way up quickly.
Cooking Classes – If you are proud of your culinary skills and are passionate about food, starting a cooking class can be a great business idea. It requires very less investment and can be started in a facility with basic kitchen equipment and cooking ingredients. Also, it can give you potentially huge returns.
Fitness Centre – With each passing day, more and more people are getting health-conscious and love hitting the gym. If you are a fitness enthusiast or are trained in the area of fitness, you can start a fitness centre with a small investment. The space or infrastructure and equipment can be bought or leased depending on your budget. Fitness centres are a very lucrative business model as most of the registered members find it difficult to keep coming to the fitness centre regularly despite paying the annual subscription.
Driving School/ Cab Service – If you posses great driving skills, you can buy a car and become a full time driving instructor. You can teach up to 10-15 customers in a month and earn a decent income with minimum investment. Depending on your business returns, you can later avail a business loan to expand your fleet of cars and hire more driving instructors.
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Event/ Wedding Planner – Weddings are only getting grander with time regardless of the economic conditions, there is always a market for weddings. The Indian wedding market is estimated to be around $50 billion (around ₹33,000 crore), and it is growing at a rate of 20 per cent each year.(1) If you are good at planning events, this presents a huge opportunity. You would also require some capital for staff, logistics and décor. This can be easily arranged with a small business loan.
Food Catering Business – Who doesn’t enjoy having good food? In a country like India, we never run out of reasons to celebrate and throw parties. Hence, the catering is one of the most lucrative businesses in the present times and requires minimum investment. You can start your own catering business with a small kitchen, few employees to cook, serve, deliver and manage logistics. A small business loan can easily fund a catering business.
Computer Training Centre – We are in the digital era wherein there is a lot of demand for computer literacy. If you are good with computers and are aware of booming areas in technology such as artificial intelligence, block chain, data analytics, Internet of Things (IoT) etc. you can start a training centre. All you need is a training centre equipped with an internet connection, a few computers and teaching aids such as whiteboards, projectors etc. You can run batches for college students, working professionals etc. and earn a steady income.
Boutique or Salon/Spa – There’s always a high demand for fashion and grooming related services. You can turn this need into a profitable business idea by taking a small business loan. You will require funds to get the store, raw materials like cosmetic products, salon equipments, human resources and more. Once, that is set up; you can start earning immediately and become your own boss.
Real Estate Agent or Broker – If you have a knack for networking and possess good people skills, you can become a real estate broker. It only requires a little knowledge about the real estate market in the area. It also helps to gain an understanding of the prospects for both commercial and residential real estate. The investment required in this business is very less, and the commission you earn can make the business venture a highly profitable one.
Web/ Social Media Agency – In today’s digital world, all businesses want to advertise through digital channels like the social media. If you possess a good knowledge of marketing, branding, web presence management, communications, and social media, you could start your digital marketing agency to help companies establish a strong digital footprint. All you need is an office space, a few computers, and some skilled professionals.
Whether you want to start your business from scratch, invest in infrastructure, expand operations, or increase your working capital, a small business loan can give your business the much-needed boost to scale new heights. By opting for a Small Business Loan with Bajaj Finserv can help bring your business ideas to life with funding up to Rs 30 Lakh. What’s more, with Bajaj Finserv Business loan, you can enjoy unique benefits such as pre-approved offers, online account access and collateral-free loans. To apply or know more about Bajaj Finserv online business loans, visit Finserv Markets.
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