Small Profitable Business Ideas
There are lots of small profitable list of business ideas, and what defines “best” business idea in India largely depends on you. Are you an aspiring entrepreneur with a knack for people skills and negotiation? Want to make most of the opportunity? Then read on!
When you are considering the best business idea in India, you will need to answer a few questions:
- Where does your interest lie?
- Is there a need in the market for a specific product/service?
- Do you have the required skill set to satisfy that need?
- What is your customer demographic?
- What is your ideal work environment?
- What is your business model?
- How do you plan to raise the required capital?
- Can you raise the required capital?
Your answers to these questions will help you gain clarity regarding small profitable business ideas. It will point you in the direction of a certain industry. Here is a list of creative small business ideas for 2019. If you are able to specify a need and are skilled enough to start a small business in any of the following fields, you might just strike gold and hit some serious success.
1. Marketing Services
This is one of the hot new business ideas for 2019. Most business owners have some idea of marketing their products. However, executing that plan can be a whole different situation. Marketing a product is no easy task and requires a dedicated team, especially for small businesses who don’t have that kind of manpower. If you are a marketing whiz and are able to offer your expertise, you should be good to go!
As an independent marketing professional, you can work with small and large businesses to execute their marketing plans.
2. Social Media Management
Are you a social media whiz? Nowadays, everything is online. Hence, businesses that are not social media savvy may require your services. Social media management falls under marketing. It is something that most business owners know they need but are not able to execute well. if you are a pro, consider helping businesses who need help managing their brand’s social media platforms.
3. Business Plan Consultant
If you have already successfully launched and run a few businesses, then you probably know the importance of a business plan. A business plan is important to start any kind of business – it forms the foundation of a business. However, not many are aware of its importance or know how to properly write one.
Why not offer your services as a business plan consultant? You could offer a business plan writing service, including business funding plans, contingency plans, market analysis, competitor research, and so on.
4. Market Research Company/Consultant
Again, a crucial aspect of starting or running a business. Many businesses, once they are in the game, neglect to conduct timely market research. There is a huge need in the market for such services. You could start off as an independent market research consultant and who knows, down the line, you could become one of the top market research companies in India.
5. Accounting and Bookkeeping
There is a dire need for accountants in India. the accounting side of a business is, needless to say, an important aspect. Most businesses outsource the accounts part to chartered accountancy firms. As an accountant, you will process invoices and payroll, compile expense reports, balance sheets, and other accounting documents. If you are a licensed CA, you can help businesses with auditing, taxation, accounting, financial analysis, risk management and advising on financial structures.
If you have the chops to make your own accounting service happen, then this is one of the most lucrative small business ideas out there.
6. Business Consultant
If you are a serial entrepreneur and have been out there for a long time, chances are that people will be vying for your knowledge and expertise. You can turn your knowledge into a lucrative career. You will get lots of opportunities to be a paid speaker at industry conferences, serve on the board of advisors for a startup, or lend your expertise on a contractual basis to businesses looking for new strategies.
Professional photographers are in high demand nowadays. Especially for weddings and corporate events, professional photographers are preferred. Are you completely into photography? You can build this business idea from home with the right equipment. Also, you are in charge of your own schedule as well as client load, making this a great side hustle with a relatively low startup cost.
8. Graphic Designer
If you have a background in graphic designing, then you can make a great career as a graphic designer. Businesses are always in need of graphics for the marketing and advertising collateral, hence, this is a great business choice. You can easily take a course in graphic designing if you don’t have the background – consider it as an investment to your future business.
Networking will help you find clients and slowly, you can build your reputation as the graphic designer of choice. This could be a lucrative business if you have got the chops.
9. Website Designer
Every business needs at least a basic website if they want to be visible and reach out to their customer base. However, not many business owners will know how to set up a website for their business. If you are an IT and design whiz, you will have endless opportunities to custom-build websites for hundreds of customers.
10. Tiffin Service
Everyone is busy in their lives nowadays. So much so, that people prefer eating out to cooking. If you are a great cook, then you can start your own meal service from your home. Home-cooked meals are always the rage, especially with working people, who may be willing to shell out a couple of thousand rupees per month for meal service.
11. Wedding Planner
If you have watched the series “Made in Heaven” on Amazon Prime, you know what we are talking about. Big fat Indian weddings and the big fat cheques that come along with it! More and more families are hiring freelance wedding planners to manage the design, logistics, and coordination of pulling off the dream wedding with elan. Networking is a must if you want to showcase your event planning expertise.
12. Fitness Instructor
With the fitness revolution going on in the world, this could just be the business for you. If you are a fitness aficionado, the next step might be to become a licensed trainer. As a licensed personal trainer and fitness instructor, you can offer private training sessions in the comfort of your own home or in clients’ homes. Eventually, you could open your own gym.
Nutrition is something that not many get right. If you are conscious of your macros and count your calories, a career in nutrition might just be the path for you. Consider getting licensed as a nutritionist and offer your services as a nutritionist. Get paid to help others achieve their health goals.
14. Beauty Services
This is a saturated market, but there will be forever a need for beauty and makeup services. Are you a makeup junkie? Love your lipstick pallets and waxing wands? You can become a freelance hair or makeup artist. But before you go about offering your services, sign up for a professional beauty course and build a business from there.
If you have been bitten by the entrepreneurial bug, then you are not alone. These days, more and more people are looking to start their own business. The options for starting a small business are pretty much infinite. The sky is the limit when it comes to coming up with a business idea. You are limited only by your passion, interest, motivation, and skills.