Top business ideas under 10 lakhs. Find the best business ideas for starting a business in India.
Business Ideas Under 10 Lakhs: Starting a business is exciting and will probably be the most important decision you’ll make in your life. But before you sign that lease, buy all of those office supplies, and hire everyone on Craigslist, it’s important to make sure you have your plan down to a science, or else your idea could fail before it even gets off the ground.
Business Ideas Under 10 Lakhs
If you don’t have the capital to start your own business or don’t know where to begin looking for one, consider these ten ideas that cost less than ten lakhs.
The Idea
The first thing to consider when deciding on a business idea is how much money you have to invest. Everyone wants to make as much money as possible, but unless you have at least a small amount of capital, it’s pretty difficult to get your business off the ground. It’s always best to start small and work your way up. The trick is finding business ideas for under 10 lakhs that will earn you enough revenue in their first year so that you can reinvest that money into growing your company.
We asked our experts for a few of their favorite money-making ideas; find out which businesses are likely best suited for a new entrepreneur based on how much they cost below! #1 Event Planning: An event planner helps with every aspect of hosting an event from planning to execution. Event planners need experience in project management, logistics, creative problem solving, and more. Your own skillset may vary depending on what kind of events you want to plan.
For example, an event planner for weddings would be responsible for coordinating decorations and floral arrangements while an event planner for corporate meetings would need experience with audiovisual equipment like projectors and screens. In either case, starting an event planning business requires low startup costs (around Rs 5–10 lakh) and should net you around Rs 3–5 lakh in profits during your first year.
1) Online Bakery And Food Delivery
Not every service-based startup needs to be technology-based. Take for example Foodpanda, a food delivery and restaurant discovery platform, which has raised more than $75 million in funding. If you have expertise in a certain field and can provide your services online—like an online tailor or a digital video editing service—setting up a shop as an independent freelancer is an ideal option.
With plenty of marketplaces out there facilitating freelancer connections, and startups looking for niche talent regularly; chances are that you’ll be able to find work at all levels of your field if you’re willing to dedicate some time towards building a reputation, creating relationships with potential customers, and figuring out how you can solve their problems.
2) Online Catering Service
Start an online catering service. If you have a way with people and love to prepare great food, opening a delivery-only catering service might be just what you’re looking for. This option gives you ownership over your schedule, meaning no one is going to be able to tell you when or how often you work. As long as customers are willing to pay your fees, you’ll always have someone ready to eat your meals—and if it takes off, there’s even potential for franchising in some places.
In addition, most food preparation jobs require minimal start-up costs and they can be done from anywhere with an Internet connection—which means there’s little risk involved. On top of that, many companies will help offset your initial costs by giving you discounts on food inventory. However, because starting any business requires so much time and effort, don’t expect instant success. You’ll need to put in a lot of hours at first but once things get rolling, you should be able to run things more efficiently and spend less time on daily tasks like prep and packaging orders.
3) Customized Party Invitations
If you’re good with your hands and don’t mind getting covered in paint, designing party invitations may be an easy way to make money. There are plenty of templates available, but if you have a real knack for design then you could put together something really eye-catching on your own or even turn it into a more advanced project. Either way, just have fun with it! Don’t forget about proofreading! Or asking for feedback from friends and family. The more eyes you get on it, the better job you can do!
4) Event Management Company
You can start a business managing events. You will have to make a plan for your event and you have to attract as many customers as possible by advertising. This is one of the most popular businesses in India today. It is an easy way to earn money without much risk involved but if you have no previous experience.
It may be difficult for you because starting an event management company needs some initial investment and people are less aware of such businesses, so it would be difficult for you to gain customers at first but with practice and gaining skills, you can start earning a good amount within a short period of time.
5) Fashion Accessories Store
You don’t need a huge space to open a clothing boutique. In fact, you can start off by selling your creations on Facebook and then expanding to other social media platforms and e-commerce sites. As long as you know what kind of products to stock, how to promote yourself, and which brands/products are going to be in demand for customers.
You can run an online store from home and make some quick money. You don’t need a ton of startup cash either – just enough for a good web presence and some inventory. If that sounds like something you could do, check out these 6 fashion accessories e-commerce websites.
6) Book Publishing And Distribution Company
Distributing books can be a lucrative business, and you don’t need to be a big publisher. If you have some writing chops or want to use your existing personal contacts to attract authors, there are plenty of ways to turn a profit with book publishing. To get started, simply approach publishers in your niche and offer them an affiliate rate for selling through your site. You also could create print-on-demand paperback versions of ebooks. Print on demand (POD) has several advantages over digital ebooks.
For example, if you need only one copy of a 200-page book printed and distributed, POD is cheaper than creating that digital file from scratch. With POD, you pay per page as opposed to per unit, so printing just one book doesn’t cost much more than printing 100 copies. With digital files being passed around freely online, however, it’s unlikely that anyone will buy a physical copy unless they know they can resell it later.
But that shouldn’t stop you from trying! The process of self-publishing requires little capital—you can do it all yourself or find someone who will help you out for a fee—and once your product is created and sold online, there’s no limit to how many copies you sell. And because books are expensive items compared with other products people might buy online, shipping costs should be minimal.
7) Digital Marketing Agency
Start a digital marketing agency to help small and medium-sized businesses with their social media, paid ad campaigns, website development, etc. These types of companies are usually starved for capital but have an extensive online presence; it’s a perfect match. Digital marketing agencies often don’t require a ton of overhead and can afford to take on smaller projects than larger firms.
And since you’ll be working directly with clients (as opposed to managing employees), there’s more flexibility in terms of hours and location. You may even be able to bootstrap your business by offering services pro bono or at reduced rates until you get your feet off the ground—and make sure you do some research into what sort of certifications or training will be required in your area before setting up shop.
8) Website Design and Development Company
Starting a company around website design and development may be risky, as there is an abundance of companies that offer these services. However, because of how popular web design has become, it can be difficult to stand out from your competition. If you manage to create an effective marketing strategy, you can significantly boost your client base by choosing a specialized niche or trying to attract both types of clients: small businesses and individual users.
In order to do so, however, you’ll need a strong understanding of HTML5, CSS3, and other coding languages. The best way to develop such expertise is through online courses. There are plenty of free resources available on YouTube and various blogs; just make sure they cover all relevant topics before signing up for paid ones. In addition to coding skills, you should also have some experience with WordPress or another content management system (CMS).
This will allow you to customize websites in accordance with each client’s needs. A business plan could include plans for increasing brand awareness via social media platforms like Facebook and Twitter; however, if you decide not to pursue them at first, don’t worry – they’re easily added later on if needed.
9) Travel Photography Exhibition
Travel photography is a fast-growing business. Thousands of people all over India have turned their love for travel into a source of income. If you have good travel photographs and want to use them in an interesting way, consider putting together a travel photography exhibition. Print out your best shots, mount them on boards and make them available for viewing during exhibition hours.
You can even sell framed copies of your pictures or publish small photo books with your images—people will be eager to snap up one-of-a-kind souvenirs from their favorite destinations around India. To make money as a travel photographer, get paid for every shot you take. Once you’ve built up a portfolio of work, approach hotels.
And tourist agencies in cities that are popular with foreign tourists (such as Mumbai) offer to shoot promotional photos of their properties. You can also approach companies that organize tours and offer to shoot photos of their customers while they’re traveling. The more photos you take, the more money you’ll earn!
Also Read: Business Ideas Under 20000
Conclusion
There are so many possibilities when it comes to starting a business. But in order to start any business, there is one thing you must first do: understand why you want to start a business. Do you have a good reason? A bad reason can keep your business from succeeding.
Once you’ve decided on what kind of business to pursue, here are some great ideas for how to make money with your startup. Let us know if these 10 small businesses sound like something you’d be interested in!
