What Business Can Be Started With 10 Lakhs: Starting a business from scratch can be hard and expensive, but fortunately, it doesn’t have to be that way. In this article, you’ll find five great business ideas that can be started with just 10 lakhs or less.
What Business Can Be Started With 10 Lakhs?
Each idea has the potential to make thousands of rupees each month and can easily be continued with revenue from online advertising, such as AdSense or affiliate marketing programs (where you receive revenue when someone makes a purchase). So don’t let your small budget hold you back anymore! Here are 5 great business ideas you can start with just 10 lakhs or less!
1) Event Management
Event management is one of those rare service businesses where you can get started with little money. In fact, you can find plenty of affordable event venues in your local area that can support small, intimate gatherings like birthdays and anniversaries. To get started, be sure to learn how to prepare your quote so that you will be able to calculate profit margins quickly when approaching clients.
Then, make sure that you do your research before presenting possible ideas for events—you’ll want to present potential clientele with alternatives that appeal to their specific preferences. Finally, once you have an idea of what they might like, be sure to create a proposal that includes all of your costs (so they know exactly what they’re paying) as well as examples from past events (so they know what they’re getting).
2) Online Course Creation and Marketing
When you’re starting out as an entrepreneur, it can be hard to know where to start. Many people find that launching their own online course is a great way of offering value and building your audience at the same time. If you have expertise in a specific area (and let’s face it, everyone does) then why not create and market your own digital product? For one thing, it can be good training if you’re considering starting up your own business full-time. For another, teaching others can help them in return.
Plus, once you get started it becomes so much easier than you may think; here’s our guide on how to create an online course for beginners—courtesy of Udemy itself! If you’re looking for more information on creating an online course, check out these additional resources: How to Make Your First $1 Online: A step by step guide with easy actionable tips & tools that will allow anyone who has a passion or talent to make money from home doing what they love while having fun doing it.
Discover all the strategies and tactics used by top earners from all over the world who make money from home using nothing but an Internet connection. How To Create A Sales Funnel In Under An Hour That Gets You Sales On Autopilot – Even While You Sleep!
3) App Development
It seems like everyone is trying to build an app nowadays, and for good reason. App development is cheaper than ever before, with many freelancers offering their services at rock-bottom prices. There’s also huge potential for revenue in terms of advertising and in-app purchases. Best of all, you can outsource most of your work: Apps have so many moving parts that they require multiple people working together on each one. Developers will take care of coding; you just need to think up something cool to build.
The free app idea generator on Canva makes it even easier—just fill in what you want your app to do and Canva will give you ideas instantly! Websites/Sites: If you have some knowledge of programming languages such as HTML or CSS, creating a website or site could be an interesting option.
In fact, there are lots of sites where you can get paid to create websites from scratch (WordPress and Tumblr being popular ones). Websites are much more affordable now thanks to hosting platforms such as WordPress, Wix, and Squarespace – plus there are plenty of easy-to-use templates available online if you don’t want to code everything yourself.
4) Book Writing/Editing Service
Book writing and editing services are becoming increasingly popular among student entrepreneurs. If you’re struggling with writer’s block, or don’t have enough time in your busy schedule to get your book done on time, there is always someone else who can help. Look for editors who specialize in nonfiction or fiction genres; that way you will only receive your specific needs taken care of and not have an editor try and put their own spin on it.
Also, be sure to ask about turnaround times so you can plan accordingly. While some writers/editors may work faster than others, you want to make sure they won’t take more than 2-3 weeks per manuscript before returning a final draft. And remember: most writers/editors charge by word count, so be sure to include all content (not just chapters) when calculating costs.
A year from now you’ll wish you had started today!
5) Bakery (Specialty Cookies, Cakes, etc.)
There’s a huge demand for bakery goods in India, as they can be made according to specific religious dietary restrictions. Additionally, with more and more bakeries opening up every day, there is ample room for growth. The initial investment is low; you can start your business from home or set up a shop in a basement or small store and expand as needed. You could even franchise your product if it does well!
So no matter where you live or what kind of capital you have at your disposal, consider starting up a bakery and turning out delicious baked goods for years to come. – Cafe: Coffee shops aren’t just popular because of their coffee – people also enjoy their ambiance. If you find yourself drawn to art or fashion, consider setting up a cafe where patrons can enjoy good coffee and catch some work done. Again, most equipment required for such an establishment is relatively inexpensive and will help grow your customer base as time goes on.
Catering Service: Are you good at cooking? If so, consider becoming a catering service! Not only will catering gigs pay better than restaurants, but they also give customers much more variety than would otherwise be available. If you don’t want to take on large orders alone, ask around and see if any friends would like to join forces – maybe even make them equity partners!
6) Professional Organization & Outsourcing Service
If you’re thinking of starting a business, chances are you’ll need to outsource certain tasks in order to get it off the ground. Hiring professionals and keeping them on retainer can be expensive, though. One alternative is a professional organization and outsourcing services. These companies specialize in planning meetings, managing your calendar, and creating/keeping track of professional contacts, among other things.
They also help you keep track of important documents—including contracts—and will even file your taxes for you. This might seem like an unnecessary expense, but if it helps free up time that would otherwise be spent doing these things yourself, it could end up saving you money in the long run. And besides, having someone else do these things for you allows you to focus on what really matters: growing your business!
7) Consulting Service (Human or Technical Skills)
If you’re one of those people who has developed technical or social skills that can be sold for a fee, then consider providing consulting services. Often, companies have needs that can be fulfilled quickly and easily by an expert with specialized experience or training. If you’re able to fill their needs, they may want to hire you full-time as their business analyst.
Or they may want someone who comes in on a contract basis as project work is available. Companies will often pay much more for qualified consultants because they don’t need to provide benefits, insurance, etc., so there’s little cost risk. Consulting is often short term so it doesn’t tie up your capital. You usually get paid upon completion of each project or at regular intervals until your project is completed.
8) Product Placement Service in Films/TV
Advertising in movies and TV shows is another great way for your business to get its name out there, especially if it’s in front of an audience that isn’t familiar with you or your industry. Due to product placement in the TV being such a new phenomenon (in India at least), many production houses don’t have internal policies or structures for it yet. To get in on product placement, pitch an idea like Product X will be used by Character Y during Scene Z.
Other options include adding real products into scenes digitally after filming takes place. The key here is not just getting people aware of your brand but associating it with things they enjoy. A good example would be Coca-Cola’s sponsorship of Game of Thrones where their logo was featured prominently on props throughout every episode.
By most standard metrics, Rs. 10 lakh is enough money to start up—you can get it from your savings or from your family. But it isn’t nearly enough for you to take an idea and turn it into a business. Sure, you could launch a mom-and-pop store in your neighborhood.
But with all of that onus on your own time and labor, do you really want that as your first foray into entrepreneurship? Wouldn’t you rather spend more time thinking about how best to run your business before committing yourself entirely?
There’s nothing wrong with owning an offline store, but there is value in stepping back and realizing that becoming an entrepreneur begins with research—both into what you can do and what you want out of life.