Are you willing to start a new business in India? From dozens of different job ventures, we picked out these eleven for you, mainly because they offer the best potential for profit, and at the same time the lowest initial investment to establish it. Read on to learn about the eleven most profitable business in India.
Business in India – Best choices
1. Incense Stick Manufacturing
Also called, Agarbatti, it holds a special place in the community. It has been burnt in religious and social rituals for centuries. Indian people use these in their homes as fragrant fumigants, and some contain insecticidal and antiseptic properties. This industry is a labor-intensive cottage type. People in Sri Lanka, Burma and Indians abroad also love to use them. This is mainly an export-oriented business, as around 90 foreign countries are using agarbatti. Only low-level technology is needed, so it can be done in rural areas as well.
2. Bus Service Website
This type of website is a low-cost internet based business that can potentially make you a millionaire. Because around 90% of people use buses in India, they love and need to know all of the schedules at all times, as well as other details like ticket rates, routes, emergencies, etc. Therefore, this can be an extremely profitable business with a low investment.
3. Housekeeping Services for Hotels
According to a study done by the Federation of Hotel and Restaurant Association of India, India will need around 15 million hotel rooms by the year 2020. Therefore, the demand of hotel authorities for clean and tidy rooms will also skyrocket. To be successful here, you have to possess great communication and management skills. It is yet another low investment business to consider, with a potentially huge payoff.
4. Shoe-Wash Company
What was once done on your own, today is a practice done for you by others. People like to take care of their shoes the right way, so if you are an expert and have marketing skills and knowledge of chemicals, this business can be a great success. In a country of some 1.25 billion of people, there a lot of potential shoes that need proper cleaning.
5. Property Management
After you establish the right workplace, the only thing left to do is be responsible with the documentation procedures and the clients’ documents. You must have great sales and marketing skills in order to prosper here. There is a high potential of becoming profitable quickly in this line of work, for an average initial investment.
6. Ultra-Short Temping Services
Many event management companies require a temporary workforce. Why not start a service that will give them the necessary laborers for these short terms? Networking skills are required for the job, as well as a decent amount of people you know and are acquainted with. You can have regular partners to whom you will “rent” the services of regular employees looking for seasonal jobs!
7. Event Management
As one of the most profitable business in India, this is a dream job for many. It does not matter if it is a wedding, a product launch, or some other celebration. Organizing such events is not for everyone, and experts are needed in this field. The big and important traits to have here are planning, creativity, time management, and general management skills.
8. Pre-Recruitment Assessment
All companies want to have only the best possible employees work for them, and you can be the one to help them achieve this task. Try providing them with services like creating tests that will properly evaluate the potential candidates based on their performance. You must have good planning and organizational skills, as well as a combination of marketing and sales capabilities.
9. Custom Gifts
There is a tradition in India to exchange custom-made gifts on special occasions, like festivals or birthdays. Things like customized jewelry, cards, and videos are now popular. You would have to know about the gift makers in a town where you operate, while it is also crucial to be creative, sensitive, and understanding. Always seeking innovative gifts is another plus. You can also have the option to wrap these gifts in special and intriguing ways.
10. Online ads Service
With the constant advancements of the IT sector and sciences, there is an ever-increasing demand for online advertising. Each business needs to reach and attract the target audience in order to sell the product or service. Therefore, they are willing to pay various websites for appropriate ad space. If you are great with networking and media planning and possess a large group of contacts with their own websites, this is an ideal opportunity for profit, with a rather low investment.
11. Scrap Collection
Various rag pickers, intermediaries, as well as different recycling factories and businessmen work with scrap collection while earning great profit. This is a multi-crore business where informal waste collection and disposal starts from scratch. If you are willing to try your luck here, you can basically make a deal with any manufacturing company and work with their scrap, collect and sell it at much higher rates to those who need it. Buy for cheap, sort it, and sell for more. You need basic knowledge of current item prices, availability, and need, to know what to work with and what to skip. Devotion and hard work are required, and the income depends on the items you find and manage to sell.
When it comes to profitable business in India, these 11 jobs are among the best you can start on your own and make a quick profit. The investments are low, with a potential for big money, so what are you waiting for?