8 Business Ideas Under 1 Lakh: How are you going to build your business? First, you need to come up with some ideas and figure out which one will work best for you. Don’t worry though, I have you covered. Here are eight businesses that will cost less than 1 lakh, have huge potential and let you get started right away. Read on to find out more about them!
8 Business Ideas Under 1 Lakh
1) Landscaping Business
It is imperative to keep lawns, trees, and shrubs in shape; especially if you intend to sell your home. Hiring a professional landscaper isn’t cheap; but, neither is hiring someone to do work that you can easily do yourself. And for those of us who are always looking for a new business idea, here’s an idea that will cost you less than one lakh rupees (including equipment).
You don’t need any particular experience or expertise and it won’t require more than a few afternoons a week to get it off the ground. It can also be run on your own schedule: just give out flyers and make sure every resident knows they can count on you!
The great thing about starting a landscaping business is that once you learn how to maintain properties—with proper irrigation, fertilization, and pruning—the only additional expense is plants and fertilizer. As long as these costs remain under control, there’s no reason why your business should fail. With time and effort, you could potentially earn even more money through real estate deals based on referrals from satisfied customers.
All said, there might not be much growth potential with such a small investment; but when it comes to finding a business idea that provides steady income without stress or prior experience needed – look no further than managing residential properties!
2) Catering Business
The most important aspect of starting a catering business is figuring out how you’re going to make it stand out from all your competitors. Catering business ideas are abundant, so if you can figure out how to add something special to your business and market that effectively, there’s a strong chance people will pay more for your services than they would for competitors. A catering business also has a natural repeat customer base since people often need food at multiple events over time.
So as long as you can deliver consistent quality service at an affordable price, your business should be in great shape! Also, remember when you start getting serious about marketing your business idea: set aside some money to invest in professional photos of your product; nothing helps sales like beautiful pictures.
3) Fashion Accessories Shop
It can be tricky to find that business idea that gives you both financial and creative freedom, but it’s not impossible. If you have a knack for all things fashion, try your hand at a shop where you sell scarves and jewelry. Of course, starting an eCommerce business isn’t as simple as putting up some ads on Facebook and Etsy—you’ll need to have a concrete business plan in place before you launch.
To get started, read 10 Steps to Becoming a Successful Ecommerce Storeowner. You’ll learn what eCommerce platforms are worth your time (and money), how much it will cost to get started, plus more. And if you want even more business ideas under Rs 1 lakh, then check out these 15 Small Business Ideas Under Rs. 25,000!
They’re simple and easy to implement. More importantly, they give you complete control over your earnings so you won’t fall prey to commission fees or any other type of payment deductions. Best of all, they don’t require any upfront investment–all expenses can be covered with profits from existing businesses. So what are you waiting for? Get started today with one of these!
4) Online Consulting
Online consulting is one of those business ideas that almost anyone can get into. All you need is a set of skills to offer and some basic tech-savvy (or knowledge of how to hire someone who can create your website). It’s easy, in part, because no storefront or inventory is required.
You can start taking clients as soon as you have a site up and running. Even if you plan on doing most of your work remotely, there are likely some office expenses—like hosting fees for your website—that could cut into your profit margin. But for someone with an extensive skill set who doesn’t want to deal with office politics, it’s a great option that also allows plenty of self-employment flexibility.
Here are just a few examples of online consulting businesses you could do: In search engine optimization? Offer SEO help to small businesses looking to improve their rankings. Reach out through LinkedIn or email so people can request your services; once they make contact, explain why they need SEO help and show them samples of previous work.
If you’re interested in starting an SEO agency, watch our free training below: Start Your Own Search Engine Optimization Agency Course – New!
The good news is that marketing experts will be crawling all over your business once it’s up and running. The bad news is that they’ll be trying to figure out how best to sell stuff at every turn.
5) Mobile Repair Center
There’s a huge market for mobile repair shops in India, and it’s getting bigger. Right now, about half of all Indian smartphone users have a device that is less than two years old. With smartphones becoming more affordable, it’s no surprise that demand for services and repairs is increasing too.
If you have basic repair skills (or can hire someone who does), all you need to get started is an inventory of spare parts and tools—and some determination. All you need to do after that is promote your business through networking, or by adding an online store to your website.
According to marketing specialist Rohit Agarwal, 70% of clients come through word-of-mouth referrals. Don’t underestimate your local customer base either: Aggarwal also notes that almost 80% of his work came from clients living within a radius of 4 km from his shop.
All things considered, with approximately 300 million devices sold every year in India – not to mention growing rates of smartphone adoption – there are plenty of opportunities here! Start Your Own Mobile Repair Centre!
6) Pet Care
It’s a huge industry, and there are a ton of ways to get into it. Besides looking after pets in their homes, you can open a pet boarding house or run-walking tours. If you like animals but don’t have time for full-time work, consider getting paid to do pet sitting on nights and weekends.
You can start very small with little money: even just one room in your house will give you an income stream if you simply ask people to pay for boarding in advance and keep doing so until there is enough money coming in each month to support your family. And hey, maybe you might find that your new passion has inspired another passion: starting your own business!
Most importantly, remember: whatever you do, take your passion into account when choosing a niche; you need to love what you’re doing to be able to perform well and stick with it over time. With anything, passion drives performance. Let me know in the comments if you liked reading this post! Thanks!! :).
Suggested Readings (Books): Rich Dad Poor Dad – Robert Kiyosaki The Millionaire Next Door – Thomas J Stanley & William D Danko How I Raised Myself From Failure To Success In Selling – Frank Bettger Secrets Of The Millionaire Mind – T Harv Eker 7 Habits Of Highly Effective People – Stephen R Covey Think And Grow Rich – Napoleon Hill As a Man Thinketh – James Allen Money Master The Game – Tony Robbins Millionaire Teacher – Andrew Hallam
7) Life coaching
You don’t need to be an expert in anything to start a business as a life coach. Simply open up shop as someone who can teach clients how to better understand themselves and where they are in their lives. You can easily make money online doing this, whether you have your own program, or run a group coaching program (online, for example). Because all that’s required is knowledge, not physical products or services.
Life coaches are great for people who are interested in starting their own businesses but don’t have much of an idea of what that business should be—they just know it will help others. Here’s some more information on getting started with personal coaching on your own site.
Arts & crafts: The Internet provides many opportunities to earn income from home through selling creative skills like writing, graphic design, video creation, and game development. If you’re knowledgeable about arts & crafts — especially if you’ve had formal training in photo editing, graphic design, or web design — there’s little doubt that there’s someone out there willing to pay you for what you’re offering online.
After all, everyone has photos they want to be edited; sometimes it’s even difficult finding those who offer editing services! And those with creative talent tend to look for creative ways to find unique gigs before anyone else does…and then polish them off faster than anyone else could hope to replicate their work!
8) PR Agency
Pitching a product or service as a spokesperson is one of those tactics that seems good in theory, but not so much in practice. There’s an old saying: If you want to get lucky in life, walk into a bar. If you want to get lucky on TV, book yourself on The Price Is Right.
To avoid wasting your time and money pitching something that’s unlikely to get picked up by brands (because it doesn’t fit their brand), do some research first—it might even be helpful to hire an agency that specializes in PR pitching, who can tell you if your idea makes sense from a branding perspective.
Once you’ve confirmed it’s appropriate for potential clients to pick up, write a short pitch deck that includes facts and figures about why they should work with you. Make sure it ties back to both your strengths and their needs/wants as well. Also, consider having social media/public relations/copywriting experience; these skills help prove you have what it takes (and give people inside knowledge) on how to successfully promote a business online.
Do your best at all times when promoting; don’t spam people or break any laws! And do use discretion with what personal information is publicly available about yourself! You never know who will see it…or recognize you…and approach you about working together.
Also Read: Top 10 Business Ideas Under 2 Lakhs
Conclusion
Starting a business is one of those things that sounds simple—but isn’t. Anyone can buy some stuff from their local shop, put it on their website, and call themselves an entrepreneur. There are also many ways to lose money on your venture in a short amount of time.
It’s always smart to do thorough research before trying to start your own business. You may even want to seek out an entrepreneurial expert who can guide you through each step of starting your new company. Once you get that first sale under your belt, you might discover how fun and rewarding running a small business can be!
