Starting your own business is everyone’s dream. However, most budding entrepreneurs see their dreams nipped in the bud due to the paucity of funds for investment.
Should you possess some special skills, you can definitely start your own small business with low investment. While some such small business ideas can be operated from your home, in other cases, you may need to lease small premises.
Funding small business
Generally, small businesses begin with whatever little capital you may have. Loans on very soft terms are also offered by community organizations and cooperative credit societies. You may consider procuring a loan to fund your small business idea.
Plan well for success
Remember, failing to plan is planning to fail. Therefore, plan your business well in advance before launch. Study the market for the product or service you plan to offer.
Further, acquaint yourself well with your prospective competitors and their offerings. Talk to people you trust and seek advice if necessary. Additionally, build a database of your prospective customers before launch.
15 Best Small Business Ideas in India with Low Investment
1. Mobile phone repair/ accessories/ recharge
India will have nearly 300 million smartphone users by the end of 2017. Further, this figure will grow exponentially as more brands and cheaper variants enter the market.
Consequently, the demand for outlets and persons who offer repairs of mobile phones is expected to increase manifold. You can also sell accessories and credit recharge.
2. Meal service (Tiffin)
One of the best small business idea for women. Nowadays, the demand for home and workplace delivery of meals has increased vastly.
You can launch your small business with low investment right from your kitchen by preparing fresh, wholesome meals and supplying them to offices and homes.
3. Network marketing
Network marketing, also known as Multi-Level Marketing is an excellent small business. However, you need to tie-up with well-reputed brands that offer great products.
A search on the Internet will reveal some such major brands, whose products are always in demand.
Thanks to rising medical inflation, people nowadays look for unconventional health and nutritional products and supplements as well as skincare and beauty products.
4. Mobile garage-(Small business for men)
Everyone has seen cars, scooters and motorbikes breakdown in the middle of busy roads. The unfortunate owner of these vehicles usually faces a dilemma about where to get repairs. For such eventualities, you can offer a mobile garage.
For this business with low investment, you will require a car, mobile phone and all the tools required to repair a stalled vehicle. All you need to do is, rush to the place where the vehicle is parked to perform repairs.
5. Jams, pickles & sauces
As people become increasingly conscious about their health, the demand for healthier, non-commercial jams, pickles, sauces, and ketchup is on the rise.
Moreover, consumers nowadays are wary of consuming foodstuff that contains chemicals of any sort. Given this scenario, you can manufacture jams, pickles, sauces, and kinds of ketchup with traditional recipes that are chemical free.
6. Cakes & Bakes
Armed with a good oven, you can open a low investment business making cakes, muffins, cookies and other bakery items
This small business has huge potential since consumers are always looking for new, better tastes at economical rates. You will, however, require great skills in preparing these baked delicacies.
7. Travel services
Offering travel and related services can see you make instant profits. A tie-up with long-distance bus services offers online reservation of rail tickets and reserve hotels at various destinations for clients.
You can also add local sight-seeing and other requirements for your customers. You can either collaborate with a major travel agent or enter into deals with service providers and get commissions for every reservation you make.
8. Imported products
Indians returning home after a foreign tour tends to buy stuff they can sell locally. They do so to defray costs of their foreign trip
Products they sell include fragrances, cosmetics, cigarettes, liquor, chocolates, food items and T-shirts among others. The craze for foreign goods in India ensures you have a good market for your wares.
9. Medical sample collection
This is yet another rapidly growing, low investment small business idea in India. It simply means you collect blood, stool, urine and sputum samples from patients, from their homes.
These samples are for delivery to pathological labs that will test them and issue medical reports.
The reports have to be home delivered to the customer. You will require a vehicle, equipment to store the bio-hazardous material and skills in extracting blood samples.
You will need agreements with pathological labs before entering into this business.
10. CCTV & surveillance
Increasingly, people are becoming security conscious. They want to protect their families and themselves against theft, rape, and other crime.
Consequently, more and more people are installing CCTV and surveillance cameras in their homes and offices. This is a low investment and high returns small business idea.
11. Soya products
Nowadays, an increasing number of people are going vegan. Soya products such as soya milk, tofu (soya curds), soya flour and soya chunks provide a great alternative to meat.
Manufacturing Soya products are fairly easy, provided you have the required equipment. It is also a low investment small business. You can get a small loan to start this micro industry.
Generally, there are two types of signboards used by businesses and shops: Painted and Neon. Every small business and commercial establishment requires signboards.
The demand is for creative yet low-cost signboards that aptly advertises the business. Making and supplying signboards of all types, according to specifications of the business owner, is a business in demand around the year.
13. Manpower supply
Every business requires more manpower almost on daily basis. This is especially true with restaurants where staff attrition rates are rather high.
Waiters and cooks leave at short notice or merely abandon work. This puts the business owner to great inconvenience.
Occasionally, households also require manpower for cleaning the home. With some ingenuity and low investment, you can help restaurants overcome their manpower problems and earn a handsome income almost daily.
14. Skin and beauty treatment-(Small business idea for men and women)
Increasingly men are becoming beauty conscious. For men and women skilled in providing skin and beauty treatment, opening a small business offering the service is an excellent small investment option.
You can design your own therapies for glowing skin, anti-aging, and facelifts.
This business can also be opened from home, provided you have ample space and privacy for clients. Offering herbal and natural therapies will help you stay ahead of the competition.
15. Mushroom harvesting
Mushrooms are considered a delicacy and fetch fairly high prices in the market. They are very nutritious as food.
Hence, governments of various Indian states provide subsidies and facilities to people who can harvest mushrooms. This is a great low investment small business idea.
You will need to set up a greenhouse with controlled temperature for getting the right crop. Mushroom spores are readily available from state-run cooperatives and agricultural shops. Bulk customers for mushrooms are easy to find.
Before entering into any venture, it is advisable to know licensing procedures and other legalities concerned.
It is better to legitimize your business since it can help you get loans and subsidies in future. It will also protect you against any lawsuits.