Many people want to be business owners or entrepreneurs. However, the need of this is a significant financial investment, which many cannot cope with. It is because of this that they give up their dream of becoming entrepreneurs.
A list of small business ideas that cost less than INR 10 lakh has been developed as a result of this research. Individuals can save, borrow or find investors as much as INR 10 lakh, which is a very small amount.
The time and care you give to your business will determine its success or failure. Enterprises are not self-developed; You have to find creative solutions to keep them afloat. There are many tactics available to grow your business. For example, you can hire advertising and promotion organizations to help market your business, select target markets, and create specialization, among other goals. All these factors contribute to the overall success of a business.
Let’s look at some of the most successful small business ideas that can start with an investment of less than INR 100,000.
The most innovative business concepts for under 10 lakh rupees
Here are some suggestions for small businesses:
1.An IT or gadgets retailer.
A computer or gadget store is the best small business to start with less than 10 lakh rupees. Every home is equipped with a laptop, phone or any other technological device. Demand for convenience stores is always high. You can sell many things including headsets, mobile phones, home theater systems, speakers, gaming devices, virtual reality systems and cameras, and more. Due to the growing demand, this is a great time to start opening an IT or gadget store.
It takes an investment of 7 to 8 lakh INR to start a convenience store. You will still have enough money to equip your store with the latest and most innovative products. It takes six to eight months to recover your investment. It takes time for any business to take off. Therefore, you should consider starting this business as it is highly profitable.
2. a cleaning service company
Establishing a cleaning service is the next new business concept that has been proposed. Cleaning businesses are great small business ideas that can be started from the comfort of your own home. Sanitation is an essential part of every household. While it may sound like a strange idea, it’s a profitable business to start with. You can choose to start with a few sites and then expand as your profits grow. You can contact cleaning organizations for a variety of places including homes, businesses, event halls, cisterns and wedding venues, and more.
If you have an additional contract, you can also hire a team and delegate to other positions as needed. Depending on the type of cleaning service you provide, the initial investment required to get started varies greatly. It is available for purchase at prices ranging from INR 20,000 to INR 50,000. A large-scale business will need an investment of INR 7-8 lakhs to start. Kitchen which is used to serve food.
3. a food service business
Due to the fact that it requires minimal initial cash to start, a food service business is one of the most popular small business ideas. The spices and traditional Indian cuisine are world famous and the country has a diverse population. Special food is required for every occasion. The restoration and restoration will continue indefinitely. You can start a food service business with minimal budget and deliver a delicious experience to your customers. Need to invest from 3 to 6 lakh INR to start a food service business.
4. Traveling for work
Individuals are willing to spend their hard earned money on vacations and other activities they enjoy. They often use the services of a guide or travel planner to help them provide necessary information and destinations during their trip. In recent years, the tourism industry has grown tremendously. This is a great opportunity for you to set up your own travel agency.
If you’ve traveled the world, like traveling or have in-depth knowledge of the world’s most popular vacation destinations, this organization might be the right one for you. Need to invest from 4 to 50,000 INR to set up a travel company. The company offers a real business option for teenagers.
5. Online business is another option.
In addition to being time consuming and difficult, setting up a physical store is also very expensive. In contrast, starting an online business is affordable and easy to operate. It is widely recognized as one of the most promising small home business concepts. All that is required is to create a website and include the company’s goods and services.
For example, you could start an online business in a specialty you’re passionate about: clothing, crafts, cakes, cupcakes, chocolates, artwork, or custom jewelry. There are many solutions available… It’s a profitable business to start from scratch. An investment of between INR 20,000 and INR 40,000 is required to start an online store.
6. Using the Fitness Center
The vast majority of people are aware of the importance of maintaining an active lifestyle. Having a beautiful and healthy body has become a necessity in today’s society. Opening your own fitness center is a great option if you want to exercise and live a healthy lifestyle. It is ideal for a new business starting with a small initial investment. An investment of 8 to 10 lakh INR is required to set up a fitness club.
A fitness center requires a variety of equipment, including machines, tools, cardio equipment, and weight lifting equipment, to function properly. There are many companies and places where you can purchase used and profitable training equipment for your facility, depending on your needs. It will save you money to run your business.
7. A company that provides spa services.
Everyone’s life becomes more and more difficult over time. When it comes to managing stress and fatigue, spa treatments are a great choice. Many people go to spa salons to relax after a long day. The result of this is the spa business. The required investment for spa services company is between 8 lakh INR to 10 lakh INR.
Inside a modern salon, equipped with a spa massage table and a selection of pre-sale skin care products.
Starting a business requires careful market research and identifying potential customers. You will need a business plan if you want to start your own business. There are many types of businesses that you can start with 10 lakh rupees or less. Some business ideas include: spa services, water purifier units, internet stores, online marketing companies and fitness centers, etc. You can check out the recommended small business ideas. Please refer to the article if you need more explanation.
EDITED AND PROOFREAD BY: NIKITA SHARMA