Top 10 Online Business Under 1 Lakh: You might think it’s hard to start a business with such little capital, but that’s not true. All you need to get started are some creative ideas and the right online tools to validate your ideas without spending money.
Top 10 Online Business Under 1 Lakh
Here are 10 online business ideas you can launch under 1 lakh that we’ll walk you through in this article – some are highly profitable, while others will help you gain experience so you can start a more profitable venture later on.
Idea #1: Start A Delivery Service
Delivery service is a great business idea if you are trying to lose weight because it will get you more active by walking more and biking for longer distances. You will also be keeping your stress levels down as you won’t have to worry about where your car is or if someone stole it from in front of your house.
However, you need to consider how much capital it will take for getting a vehicle, buying items for delivery, and covering costs for gas or electricity. To reduce expenses, avoid doing deliveries during rush hours when clients order most food items like burgers and pizza slices; such businesses tend to generate high profits in the evenings and on weekends so that’s an ideal time frame for setting up a delivery service company.
Idea #2: Start An E-Commerce Store For Music/ Movies/ Books
Though India’s e-commerce industry is still fairly nascent, it’s growing exponentially year after year. According to a report by NASSCOM and Google, there are well over 15 million online shoppers in India today—and that number is expected to grow at a CAGR of close to 35% by 2020. With Indian e-commerce poised for huge growth in coming years, starting an e-commerce store would be a smart move now.
While competition remains relatively low. From electronics to clothing to groceries and everything in between, people are using online stores like Amazon, Flipkart, and Snapdeal more than ever before. A staggering 50% of all online retail sales happen on these 3 platforms alone! If you want to get into e-commerce, here are some business ideas you can launch under Rs.1 lakh:
Idea #3: Teach English
One popular way to make money online is by teaching English. Teaching your native language can be done from anywhere on Earth, and you do not need a college degree to become an English teacher. For example, Tefl and VIPKID are sites that allow you to sign up as an English teacher, complete training, pass a test and begin tutoring immediately. There are also several platforms where you can sign up to teach English online with just an undergraduate degree or vocational certificate.
If you have any experience as a tutor or administrator at an educational institution, show it off with all your certifications! You’ll have more job offers than you know what to do with. On these sites, you get paid for every hour of time that students spend in class with you. Students learn at their own pace and teachers must be able to work independently without too much oversight from their company—most companies try to stay in contact through calls and video chats.
Another great thing about being an online English teacher is that no one knows who you are so they won’t judge your accent or writing style if they happen to struggle with your instructions. It really comes down to how well you can connect with students and help them learn—and there will always be someone looking for help!
Idea #4: Start A Website Development Company
If you’re even slightly familiar with design and web development, start a site development company. Website development costs are typically under $1,000; all you need to do is register a domain, buy hosting (which is cheap), and purchase an easy-to-use platform like WordPress where you can build beautiful websites at a fraction of what most designers charge. As long as you have some sort of technical ability—just be sure not to overpromise on your deliverables—starting a site development business will be incredibly lucrative.
There are plenty of more thorough guides out there on how to get started; here’s one I wrote for Forbes…
Now that you know what idea to go with, it’s time to learn how to start a website development company. First off, you’ll want to figure out if website building services are even something people want in your area or country.
Put up ads around town or post flyers at local colleges offering your services; offer startup packages that include social media marketing and SEO optimization in order to appeal to local businesses. Once you have customers coming in through word of mouth, reach out to local magazines and newspapers who may be interested in featuring your services if they don’t already cover startups and small businesses closely.
Idea #5: Start A Transcription Service
Transcription jobs are scattered across the internet, but it’s a tough market to break into. You’ll need a good headset and high-quality transcription software in order to start transcribing audio files. If you have previous experience as a court reporter, or even as an interpreter.
You can probably already tell whether or not you’re well-suited for becoming a full-time transcriptionist; if so, there are tons of opportunities for full-time work online. To learn more about getting started with your own transcription business from home, check out Jerry Banfield’s Online Transcriber course. It’s worth noting that most transcription services require applicants to pass a test before they can begin working.
Idea #6: Catering
If you enjoy cooking and are skilled at preparing food, catering could be a great side business idea that can also bring in some good money. This is especially true if you don’t have any competition in your area. The internet is a wonderful place to find people who love food and are willing to pay top dollar for it.
With websites like Seamless and GrubHub, you can take delivery orders from those who don’t want to leave their house but still want good food. Check around your town for signs of high-end corporate catering companies as well; they often hire private chefs to cook meals for their clients. Although not quite as convenient as having customers order online, there’s an enormous amount of potential profit with very little investment required.
Idea #7: Event Planning
If you have an eye for detail and love entertaining, then event planning may be your calling. There are always weddings, birthday parties, and corporate events that need a hand. What’s more, many of these paid gigs can be done on weekends or in the evenings after work.
Since they’re booked solid during those times anyway, business owners are more likely to hire you if you prove your reliability by working a couple of extra hours one day. You’ll also get plenty of experience doing everything from venue scouting to menu planning. You could even start out as a wedding planner—it’s about as close as you can get to guaranteed money without having any real experience (just ask Martha Stewart).
Idea #8: Start An Online Travel Agency
Online travel agencies are a lucrative business if you’re looking to start a business in India. The online travel market in India is expected to reach $2 billion by 2020, and an established website can also generate other revenue streams by offering services such as hotel booking, flight tickets, and holiday packages.
A majority of India’s online travelers are looking for hotels and flight tickets; so if you focus on these two options during your first year of operations, you can build a sustainable business while also diversifying your offerings over time. You can learn more about how to launch an online travel agency here.
Idea #9: Digital Marketing Services Company
The concept of digital marketing is growing by leaps and bounds in India and if you have some experience with it, you can leverage that into a pretty good business. This is especially true if you have entrepreneurial skills since setting up your own business means more money in your getpocket. Many companies have already discovered how to take advantage of digital marketing.
And they pay online agencies to help them with their online presence. You can start out by offering your services as an agency and gradually move towards building a bigger team or franchise model. Once you become an expert at one thing, it’s easy to move on to another thing! You don’t even need large capital investments—some part-time freelancers might do just fine.
Idea #10 – Build Something People Actually Want To Buy On Shopify…Easier Said Than Done!
Shopify is a major player in online commerce—helping people create and manage an online store, building on Shopify’s e-commerce platform. If you’re tech-savvy, it might be a good option for your business; however, it can cost a few hundred dollars to start up and takes time to learn. It may not be for everyone but if you have some computer skills and know-how to use Twitter effectively then it may be worth considering as an option. The best part about Shopify is that it has all of its own payment options so you don’t need to worry about setting that up yourself. However, if you want to set up your own payment options, such as PayPal or Stripe, then there are some additional fees involved.
Also Read: Top 10 Businesses Under 1 Lakh in Pakistan
There are many business ideas that you can start with a little money. All you need is an innovative idea, some effort, and an entrepreneurial spirit. Start by putting together a business plan and test your hypothesis on paper before moving forward to spend your hard-earned cash on actual products or services.
You’ll want to calculate startup costs and gauge profitability by industry type and size. For example, a luxury resort would have different costs associated with it than a dry cleaner in Minneapolis.
So you’ll want to build estimates based on accurate projections rather than just hopes and dreams. This requires research from public companies, trade groups, industry reports, and more.