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Find out the 10 most successful businesses to start in India that you can explore based on your knowledge, skills and passion.
[Here is a list of 10 top most successful to start in India.]
The prospect of starting a business can be both exciting and confusing. Many novice entrepreneurs are clear about the industry in which they want to create a niche for themselves.
On the other hand, some may need clarification about which kind of business would be ideal for them. For example, being hotel management graduates, my husband and I want to start a café of our own after we retire from our jobs as we feel that it would be a perfect way to combine our knowledge and passion.
As for those still wondering which are the most successful businesses to startthis year, we have compiled an entire list for you.
These business ideas have excellent scope for expansion and do not need a substantial initial investment. Read on to learn more.
You have to consider the following things
Establishing a business plan
A well-developed business plan should include the new organization’s mission, vision, products, services, target audiences, marketing strategies and how the idea will generate revenue.
The business idea need not be original, it must provide something unique compared to other businesses in the same industry.
Creating a network
Finding investors and studying competitors is essential to developing a successful business plan. You must investigate your competitors to ensure that the products and services you offer stand apart from similar products already existing in the market.
You need to find colleagues, friends or other like-minded individuals willing to put money into your business if you are short on funds. Also, joining industrial organizations and associations relevant to your industry and networking with media personnel will give you access to people who can offer advice and mentoring.
Brand Building
Focus on transforming your business idea into a profitable brand. For example, if your business sells sugar-free protein bars for people with diabetes as your target audience.
You can expand your concept to include health food enthusiasts in your target audience by adding products like sugar-free chocolates, sugar-free smoothies and so on.
The Food business is one of the most successful businesses to start this year. Depending on the amount of money you are willing to invest, you can start with something as simple as a food truck or something more elite like a fine dining restaurant.
You can even opt for a simple café with a limited menu and great ambience that will have youngsters flocking to your space.
Before starting a food business, you must ensure that your joint has potential. It should be unique with regard to its menu, design & interiors. Before beginning any food business, you will also need food quality certification, business licences etc.
Many people would readily opt for car wash services that can come right to their doorstep instead of driving all the way to a car wash.
This service is especially sought out by those who own premium segment vehicles and look for more personalized attention. Mobile car wash is also profitable as you get away with the overheads that accompany a permanent physical space.
If you are an animal lover, this business idea could work very well for you. Pet owners are highly concerned about the care and treatment of their pets when they need to travel and stay away from home for long durations.
As a result, many pet owners are looking for professionals to look after their pets while they are out of station.
Pet boarding services are a great business idea as their initial investment is low, and it’s simple to start and operate. You will need a vet, some helpers and a space for the animals to move around freely. You can also offer pet grooming services for additional income.
If you are good at baking and are constantly complimented on your baking skills, this could be the ideal business to kickstart your entrepreneurial journey. From cakes to cookies to croissants, baked goods are in high demand nowadays.
You can start your own bakery from home without any investment and still make a neat profit. Bakeries also offer enormous scope for expansion and growth.
This is the perfect business for you, if you have excellent communication skills, a solid network of contacts and a knack for planning events. Baby showers, birthday parties, home parties, weddings, engagements, and corporate events can be part of your event planning business.
You will also need to have impeccable negotiation skills, budget management and time management skills.
If you have a good grasp of any particular subject and are great at explaining things about your niche subject to others, then starting a coaching institute could be a great option.
For creating a coaching institute, along with subject expertise, you will also need marketing and budgeting skills, communication and management skills.
To start the institute, you will need adequate space with the required government licences. Hiring other subject experts will help you expand your clientele.
The travel and tourism industry is the fastest growing and most sought-after sector. If you enjoy planning trips, creating itineraries and assisting others in providing a wonderful travelling experience, then you can consider this a viable business option.
However, travel agencies may need a heavy investment, for which you need an investor or sponsor or probably take a loan from a bank.
You will need to find your niche market, as it will help build your brand. Selecting a market segment where only a few operators are active will help you make a name for yourself in the industry.
With the increasing awareness of healthy living, many people are opting for organic foods rather than non-organic varieties because of the health benefits they offer.
With many adulterated products now available in the market, people are automatically drawn towards organic foods, which are chemical-free, safer and healthier.
People are even willing to shell out extra bucks to get fresh and healthy items. Food will need the required certification before it is considered organic. Starting an organic food bar is a great business idea as it appeals to a much larger audience nowadays.
You may think that you need to work for a popular gym or start a website where you coach individuals to transform your passion for fitness into a full-fledged business. But that’s where you are mistaken.
All you need is a few yoga mats, weights and bands at your disposal, and you can start your business. You can offer one-to-one sessions at your client’s house, or even conduct sessions for groups at a nearby park or community centre.
Fitness and wellness are among the most successful businesses to start now as people focus more on their health and body.
As more brands are looking to incorporate digital marketing in their marketing strategies, starting your own digital marketing business could be the one for you.
If you are well versed in digital marketing services like SEO, social media management, website designing etc. and possess some excellent entrepreneurial skills, then start right away. This business could easily make you profits within a short period.
With this list of the most successful businesses to start your entrepreneurial journey, you can develop a business idea that aligns with your skills, knowledge and calibre. Several industries are thriving in India, so you will surely find one suitable for you.
Before starting a business, you need to remember that success takes time to come. You will need to give your all to make your business work.
Image source: SoumenNath via Getty Images, free on CanvaPro
I am a mom who works from home and dabbles with writing when time permits.An avid reader since childhood, blogging and writing helps me de-stress.My five year old keeps me on my read more...
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