Ever since our Honourable Prime Minister, Narendra Modi, talked about Skill India, the echoes of startup became more vivid and far spread, but what is a startup and how will it affect an individual? Before getting straight into the theory of startup, let’s understand entrepreneurship.
Entrepreneurship is the process of designing, launching and running a new business, which is often initially a small business. The people who create these businesses are called entrepreneurs.
Entrepreneurs invent startups. Startups are high-risk businesses featuring a product or service that’s aimed at fulfilling a specific need in the marketplace. Most of them are technology-oriented and focused on growth potential. Some pretty recognizable businesses began as startups, including Uber, Airbnb, Spotify, and Snapchat.
Startups are highly important in an economy as it promotes employment and also uplifts the living standards of the people.
So let’s check out the best ideas for startups in India:
1. Logistics Business
Logistics business (especially in tier 2 and tier 3 cities ) with the growth of smartphones and the internet, demand for e-commerce is growing faster and companies like Snapdeal and Flipkart, etc. are having a hard time in delivering in those areas. Many players are coming up like Roadrunnr, Ekart, but still not good in those cities.
2. Database Marketing
With companies struggling to convert bulk emails into customers, it is high time that they adopt a system where they are able to target and segment customers and then send a personalized email. For example, I have to sell insurance, I would ideally want to write a first mail different to a retired person and different to a young working man. This is only possible via database marketing. A lot of startups have flourished in this domain in the USA but not a lot in India.
3. Recycling
People make billions from recycling. I still fail to understand why our nation has not been able to do much. The waste is gold and we waste it. All metals, newspapers can be easily recycled. All biodegradable substances can be used to produce rich manure or even biogas. Someone needs to stand here. It would be a great profit-making social entrepreneurship.
4. Exercise Notebooks
Exercise books are widely known & vastly used as day-to-day products. Notebooks are available in the market in various sizes, shapes & pages and having various types of covers paperbound, board and Rexene bound, etc.
5. Blood Bags
The blood bag is a disposable bio-medical device used for collection, storage, transportation and transfusion of human blood and blood components. The system consists of a single or multiple bags connecting with tubing, needle, needle cover, clamp This idea can hit into hospitals and other health organizations.
6. Readymade Garments (T-Shirt)
Readymade garments are a part of our daily life. Clothes are an epitome of culture. People in different parts of the world have their own styles of dressing which symbolize their culture and status. The Readymade garments industry is increasing day by day due to changes in fashion in day to day life.
7. Integrated unit RMC with Stone Crusher
Concrete is the most vital material in modern construction. It has versatile properties like easy mouldability, high compressive strength, and long-lasting durability. These properties of concrete have made it the most popular construction material for all types of civil engineering works.
8. Production of liquid soaps and detergent
Laundry detergent, or washing powder, is a type of detergent (cleaning agent) that is added for cleaning laundry. In common usage, “detergent” refers to mixtures of chemical compounds including Alkylbenzene sulfonates, which are similar to soap but are less affected by hard water and we all know that every household needs it.
9. Romantic Places
With a huge number of young people, dating is widespread in metropolitan cities. Now have a look around, and tell me how many romantic places you have been to with your GF/spouse? Rarely would you come up with a good answer? I hardly see Candlelight Restaurants in cities, no romantics gateways. Not a lot is being done for the “couples” market. Men usually have a tendency to splurge in front of their dates. Play outsmart here.
10. Namkeen (Bhujia, Chana Chur, Khatta Meetha)
Dal Moth, Chanachur, Bhujia and Khattameetha are the important names signifying flavor and taste as processed foods. These are food products having no historical background but have established popularity in the market over many years.
11. Tuition Centre
This is possibly one of the most cost-effective businesses to launch, due to its near-zero starting cost requirement. Most tuition-teachers take classes in their own homes, thus eliminating any expenditure on rent and supplies. The only effort you need to put in as a tuition teacher is to take to advertise yourself on social media or go the old school way with flyers and ‘word-of-mouth’ recommendations.
12. Breakfast Joint
You must have noticed how those little breakfast and tea stores across your city are almost always filled with customers. This is because food as a commodity will always do well in a competitive market. To open up your own breakfast joint, you need to invest money in renting a space for it, after having received a permit for it from the respective authorities. If your rent is within Rs 5000 a month, you can dedicate the rest of your budget on buying groceries and other raw materials as well as second-hand tables and chairs.
13. Fruit Juice Kiosk
Who doesn’t appreciate fresh fruit-juice on a sweltering day? To tap into this lucrative business, you have to start by requesting a permit to open a kiosk in a chosen locality, preferably one that is hard to miss. Following this, you will need to pay rent for shop-space. Other than this, the only other investment you need to put your money up for is for the purchase of the raw materials, supplies like machines for making the juice, and the salaries of the employee(s) making the juice.
15. Garment Tailor
In cities like Kolkata, Mumbai, and Delhi, the demand for good tailors has increased tenfold due to the increasing popularity of self-made designs. Other than a small rented space, you only need to invest in powerful sewing and stitching machines, and of course electricity.
16. E-Waste Recycling Plant
E-waste is a popular, informal name for electronic products nearing the end of their useful life. Computers, televisions, VCRs, stereos, copiers, and fax machines are common electronic products. While there is no generally accepted definition of e-waste, in most cases, e-waste comprises of relatively expensive and essentially durable products used for data processing, telecommunications or entertainment in private households and businesses.
17. Kraft paper from waste cartons
Paper is a major product of the forestry industry and is used widely in our society. Paper products are used not only in their obvious applications in the publishing industry and for writing on, but also in a variety of specialty papers, cardboards, brown papers, etc.
18. Papad Plant (Automatic)
These days the demand for papad is growing immensely. At present papads are in short supply in the market. It is estimated that demand for papads will keep on multiplying. Exports of papads from India to various countries over the world have been quite substantial.
19. Mobile recharge shop
Even with online recharge, in India, most mobile-users prefer visiting a recharge shop to fill their balance. So those looking to practice this business can start by renting a space in a small local shop. This rent will be the primary (monthly) expenditure. You also need to form ties with the network providers of the area, such as Airtel, Vodafone, Idea, etc, and pen down their commission rates, where they will receive a cut of your profits from the sale of the commodities taken from them. Assuming that you aren’t looking to rent out a shop-space in any expensive real-estate property, your overall costs will definitely feature below the Rs. 10,000 scale.
20. Cafe business
This is no mystery that Indians love some newly blended espresso and this enthusiasm for espresso has lead to an expansion in the cafe business in India. There has been a consistent increment in the interest for refreshments and the café or bistro design is quick turning into a mainstream decision for opening an eatery business in India. As indicated by TechSci Research report, the Coffee Shop business is required to see development at a CAGR of over 11% by 2021. This makes opening a café business very gainful whenever done right!
So these are the basic but the most profitable business ideas which can push India to the greatest heights. So take a little risk for a hugely positive outcome!