Starting a business is indeed a big step that one can take. Once you choose to become your own boss, you enter into a different relationship with your income. Here, you can gain better control of your earnings, and are directly responsible for it.
To stand a proper chance of doing so, you need to ensure that you choose new business ideas that will be lucrative in the future. You will find 15 popular small business ideas you can start in 2023 below.
With the largest SME market in the world, India has become a breeding ground for low-cost business ideas with high profits. These are some of the best new business ideas that can provide you with ample opportunity in the current economic scenario:
If you are passionate about fitness and want to help others become the best version of themselves physically; you can always open a gym. All you will need is a space, some dumbbells and related equipment and a handful of trained fitness professionals.
Such business ideas in India will require you to invest a certain amount of money to get the ground running. You can always take a small business loan if you lack the funds to realise this business idea.
Like to make an occasion a special one with memorable gifts? Opening a small venture that customises gifts for people may suit you best. In addition to a space, you will need the raw materials to make your product and enough staff power to keep your venture running.
If this business idea with low investment proves to be profitable eventually, you can always take a small business loan to expand your operations.
If you like to make social gatherings memorable with your baking skills, consider opening a small bakery of your own. On top of a place, you will need raw materials for your goods, cooking equipment and perhaps a handful of assistants.
This is all to say that you can open your potentially profitable venture and follow your calling with minimal investment, which you can take care of with a small business loan. In fact, you can get really creative with your offerings and provide a mouth-watering experience to people.
All you will need is your expertise, a space and some equipment for bulk chocolate production, for starters. You may also need an advertising budget to get your word out there. If you feel you can benefit from expanding this unique business idea, consider taking a small business loan.
If you take pride in your culinary skills and want to teach how to make restaurant-style dishes, starting cooking classes can be one of the best low-cost business ideas with high profits. All you will need is a space of your own, a handful of chairs, tables and cooking essentials to get the ball rolling.
Everybody loves eating and making other people eat, which means that your little venture can turn into a lucrative one in no time.
Want to help people become the best version they can, mentally as well as physically? A simple way to do that is by starting a Yoga centre. Space on rent, a handful of mats, and other kinds of yoga equipment are all you will need.
People are becoming more health conscious and cognizant of the importance of mental health, and a yoga centre can potentially churn up profits in a short span.
Many pet owners living in Tier 1 and Tier 2 cities love to spoil their pets as much as possible. This means that a pet salon or a store selling nutritious and tasty food meant for pets is a great unique business idea.
The only prerequisite is that it must be situated in the right neighbourhood. Such establishments can be set up with minimal initial investments. With the right kind of marketing, you can earn a fairly decent income for yourself over time.
It is a known fact that people love to visit and chill at restaurants and cafes and have a nice conversation over delicious food or a fresh brew. This means that if you open a restaurant or a cafe and give the people what they desire, you can make their evening.
In turn, they can even expect repeat business and positive word of mouth. All you will need is a space for yourself, trained staff, chefs or coffee artisans, and you are good to go. Moreover, you can always take a business loan if you do not have the necessary funds to expand your small scale business idea.
There is a growing demand for computer education, courtesy of the increase in the number of people who want to become more technologically literate. Thus, opening a computer training centre can be a very profitable business idea in India.
In addition to a classroom-like space, a handful of machines, a whiteboard, some markers/chalks and a projector are perhaps all you will need. You can make your dream of becoming an entrepreneur within no time with a minimal amount of investment.
If you do not have funds to go ahead with your business idea, you can secure them through a business loan.
Indians simply love handicrafts, and there is no denying it! If you are proficient in making them or can get them supplied, you can start a handicraft-selling store within a few months!
You can work on this business idea with low investment and make a noticeable profit over time. You can apply for a business loan today and get the ball rolling!
Are you someone who is constantly updated about the latest trends in fashion or wants to make a splash in the fashion industry with your own fashion sense? You may benefit significantly by becoming the owner of a fashion boutique.
All you will need is to get the right kind of storefront in the right kind of neighbourhood, a handful of people who can be of service to the customers and the right kind of material you can fashion something out of.
A small business loan, which can be availed from Bajaj Markets, can help you turn that small scale business idea into a reality.
Becoming a real estate broker perhaps requires the least amount of financial investment. This is because all you need is a place as an office and your knowledge about the current property market trends and registration regulations.
After that, building a network of credible people and clientele is more important in this business. Every house you sell or help someone rent out will put a significant amount of money in your bank.
So, if you think about the capital required and the gains to be made, doesn’t it seem like a viable business option?
If you have adequate knowledge about the stock market, you will need to get a handful of SEBI registrations to embark on a path to becoming a small-scale stock broker.
After you get your certificates and registrations, all you will need are a bunch of people, a handful of systems and a commercial space of your own.
Alternatively, you can jumpstart your stock-broking business by becoming a sub-broker, essentially an established stock-brokers’s franchise. It takes very little investment, which can be secured through a small business loan, to start one.
If you are an expert automotive vehicle driver, you can simply start a cap driving service. At the start, all you will need is enough money for your own car, making it one of the least-expensive start-up ventures.
With time, if you manage to generate enough income, you can expand your business by setting up a fleet of cabs. At this point, you can take a small business loan to fast-track the process.
Have a lot of knowledge about things like social media management, fashion, ethical hacking or cryptocurrency? Maybe you can start your entrepreneurial journey as a consultant. All you will need is an office space, the right kind of marketing tools and your intellect.
You can take a business loan today if you need your office supplies and start away.
Who does not like a clean home or office space? Given that cleanliness and the need for hygiene are never going to go out of fashion, getting into the housekeeping industry is one route you can take as an entrepreneur.
With a minimal investment required for things like office space and manpower, you can convert this home business idea into reality. Moreover, you can easily turn it into a profit-making venture in a short span of time.
Starting a business has never been easier, but it still will require a significant amount of monetary resources. If you feel that you will not be able to set up a startup out of your own pocket, you can apply for a small business loan through Bajaj Markets.
You can enjoy a multitude of benefits, such as flexible loan repayment tenures, competitive interest rates and top-up options. Additionally, you can avail of a complimentary credit health report so that you know where you stand in terms of your credit utilisation. Apply now!
The biggest benefit of online business ideas is that you can create a digital product or service and sell them again and again. This makes online businesses a great source of passive income.
Tiffin service, day care services, and selling homemade candles and soaps can be viable business ideas for women who are homemakers.
Some of the top business ideas that can be started with low investment are catering/tiffin services, fashion accessories businesses, online tutoring businesses, etc.
For business ideas for startups in India, e-commerce, food and beverages, healthcare, travel, education, real estate, etc., are some of the most profitable sectors.
For your business ideas, you can arrange for funds through small business loans available at Bajaj Markets.