Business Ideas Under 5 Lakhs: Starting your own business can be an intimidating prospect, especially if you don’t have much capital to invest in it. But fear not! In this post, we’ll show you 10 of the best business ideas that don’t require any upfront investment at all!
Business Ideas Under 5 Lakhs
These business ideas should all earn you Rs 30,000 to Rs 60,000 per month under normal circumstances, and they’re simple enough that you can start them while still holding down your day job. All you need is some basic skills and knowledge of how the business works; no special training required!
Five Business Ideas That Can be Started Within Rs.5 Lakh
If you are looking to start a business, but aren’t sure where to begin. This post will share some of the top business ideas under Rs.5 Lakh, that you can take up today and make profits within next six months or less depending on your commitment.
Now let’s begin: (1) Mobile Repairing – The smartphone revolution is here and here to stay! While we have a short-term memory and conveniently forget our smartphones are almost always in need of repair, there is a massive opportunity for people who can do on-the-spot mobile repairs.
If you love taking things apart and putting them back together again, starting your own mobile repair shop might be your ticket to quick profits under five lakh rupees.
1) Selling Local Products Online
If you’re looking for business ideas with low investment and good profit margins, it makes sense to look at what’s already selling in your area. Locally made products and services do well on websites like Amazon and Etsy. For example, if you live in a city that has a lot of wine tasting tours available, you might want to consider selling wine-related accessories as an Amazon affiliate.
That way, every time someone buys something related to wine from Amazon—think bags or cases—your earnings will increase accordingly. The same principle can be applied across other industries too. If you live near an upscale neighborhood or popular tourist attraction in your city, for example, home elledecor items and services are almost always in demand as well.
2) Selling eBooks Online
Writing and selling eBooks online is a great business idea that anyone can start without spending much money. Once you learn how to do it, you’ll be able to sell eBooks as your full-time job in just 2 months. Here’s how you do it: Assemble an amazing book and publish it on Amazon Kindle or other platforms like Lulu or Smashwords.
Set up a landing page for your eBook, where people can register their email address to get updates about your book launch. Then contact each person who has signed up by email to let them know when your book will be ready and ask them if they want a free copy in exchange for an honest review on Amazon. The more reviews your book gets at launch, the higher it will rank on search engines like Google.
Do some interviews to promote your book or partner with someone who already has some influence with potential customers (maybe another author) and have them include a link back to buy your eBook when they recommend yours (as long as there’s no hidden affiliate links). Get creative with giveaways — set up something special only available to those buying copies of your book.
Promote yourself by making videos of yourself talking about different aspects of writing a successful eBook and posting them across social media channels. Don’t forget local newspapers are always looking for good stories from local authors! Make sure people know exactly what problems you solve with your product so there are no surprises once it’s delivered.
3) Personal Branding – Become an Influencer!
By becoming an influential figure in your industry, you will be able to provide value to others as well as create an online business that brings revenue. Be careful when creating content online—it is important to present yourself as a professional and someone who knows what they are talking about.
Having credentials and being active in your industry will help bolster your credibility and set you up for success. It can also help if you have famous friends or family members willing to promote you on their social media accounts or blogs! Just make sure your networking activities don’t come across as pushy, since that could turn off potential customers.
You want others to want you because of how awesome you are, not because they feel obligated to buy from or promote you. If you put out helpful content without any expectation of reciprocation, it will pay off big time down the road. Customers (even those who may not know you personally) will likely connect with you through shared interests, connections or experiences.
A little bit of branding goes a long way! Put some effort into establishing yourself as an expert and delivering high-quality information through written posts or videos; then start receiving accolades from others for doing so—and watch your popularity increase organically over time.
4) Starting A Small Store Or Bakery From Home
Starting a small store or bakery from home is an excellent idea for people who want to be their own boss. However, you do need a source of capital to get it started. Starting your business in your house has some advantages: Firstly, you have space and you don’t have to pay rent.
Secondly, everything will be under your control and no one can walk away with any valuable stuff. When deciding on what type of product or service to offer in your shop, do some research first on which products and services people are looking for at affordable prices within close proximity of where you live. Then, put together a business plan that explains exactly how you plan to go about achieving that goal.
This plan should include all expected costs as well as financial projections detailing how much profit you’ll make after taxes and paying all expenses involved in running your shop. Include details such as price points, estimated clientele size and operating hours of your store (if applicable). Remember that every neighborhood offers different opportunities; pick something that suits where you live.
5) Buying, Renovating and Rental Properties
Owning rental properties is a great way to build equity and ensure passive income, especially if you have an eye for renovations. You can buy inexpensive houses, fix them up and rent them out to tenants who pay you on time every month.
Buying old properties can be difficult because it takes time to find willing sellers and to get down payments, which often need to be larger than usual in order to make major improvements. If you’re looking into buying property as an investment.
6) Affiliate Marketing Through Content Sites
Affiliate marketing is a great way to monetize your existing audience and make extra money online. It works by you promoting other people’s (or company’s) products, services or information for a commission, referral fee or lead magnet/discount code that gives your audience access to a free trial or discounted purchase of that product.
The key to success with affiliate marketing is to choose your products and services carefully so that you only promote high-quality products that are relevant to your audience. Once you have picked out something you are passionate about (and believe in), like fitness programs.
It is simple to find affiliate partners who sell quality programs in that niche. This will ensure long-term success through repeat purchases from customers who know, like and trust you.
7) Create An App And Sell It Through Apple’s Or Google Play Store
You might want to start a business that relies on you creating an app, rather than selling one. You may want to create apps for several different industries and niche’s, but it all starts with one. This is more time consuming and expensive as you are going to have to design your own software from scratch.
However it will pay off massively in the long run. There are also many online companies such as Fiverr that allow you to outsource development at very reasonable prices (hundreds not thousands). So let’s take a look at why developing your own app is an excellent idea for your next business venture.
8) Starting A Side Gig To Generate Extra Income
Having another source of income can sometimes be a good safety net. It gives you something to rely on when you aren’t sure if your primary source will cover all of your expenses. Plus, while your side gig likely won’t make you enough money to quit your day job, it can still be a lot of fun and allow you to do something creative as well as possibly reap financial benefits down the road.
Here are some ideas for things that would fall under starting a side gig babysitting/dog walking/plant watering, cleaning services (housecleaning or floor washing), delivering packages or food via bike messenger service, promoting products online (i.e., blogging/vlogging) or offline (give out samples at local events or sell used items online).
Coaching people one-on-one in an area you’re an expert in (self-development or life skills), selling arts & crafts online on Etsy or at local craft fairs… There are many ways to find income streams; start brainstorming! Some great books I recommend reading: The 4 Hour Work Week by Tim Ferriss and Crush It by Gary Vaynerchuk.
Also Read: 10 Awesome Business Ideas Under 1 Lakh
Starting a business doesn’t have to be complicated. Just remember: Keep it simple, and find something you’re good at. You’ll build a better company—and a more profitable business—if you do. It also helps if you can find your passion; that will make work feel less like work.
Remember, though, passion is just a starting point for success in any field; don’t let it distract from what’s truly important—making sure your customers are happy with your service or product.