Are you looking to start a business with less than 1 Lac? Here is the list of some of the best businesses that you can start with less than 1 Lac.
What Business Can I Start With 1 Lac: Starting a business with very little money isn’t an easy task. It requires creativity, determination, and a lot of hustle. Fortunately, there are ways to start off on the right foot when you don’t have much money at your disposal.
What Business Can I Start With 1 Lac?
In fact, you may be surprised to learn that you can launch some pretty successful businesses with just Rs. 1 lakh! That’s just $1500 USD! Take a look at the eight businesses below to get inspired and start your own business today!
1) Self Publishing
You can write and self-publish a book by yourself. It’s very common today, especially since online stores such as Amazon will publish your book on their platform if you’re willing to pay a fee to do so (which is oftentimes much less than you would normally have to spend to hire an editor or designer). While self-publishing won’t make you money per se, it can be a great way to build your personal brand and establish authority in a certain niche.
If you’re interested in learning more about how to get started with writing a book, our guide on How To Write A Book is full of useful tips for getting started. Write a professional post based on the following description:
How to start a business? Steps towards starting up your own business. You need to know what type of business you want to start before you actually start looking into how to start it. The first step toward starting up any kind of business is deciding what kind of business you want to start.
There are three main things that define what kind of business you want:
1) Type – What industry does your product fall under?
2) Size – What size company do you want? Bigger companies tend to require larger investments, while smaller companies are easier and cheaper but don’t usually have as large potential growths due to limited market share and capitalization requirements.
2) Digital Marketing
Digital marketing is important for any small business or startup that wants to reach customers in a cost-effective manner. As a startup, you’ll find yourself spending money in many different places, whether it’s on employee wages or office space, so it makes sense to consider low-cost digital marketing options like social media and email marketing before your official launch date.
These tactics can help you build an audience before you need to shell out cash for things like Google AdWords or Facebook Ads. Once you get rolling with your company launch, don’t forget to track how well your social media profiles are performing using our free social media monitoring tool. You can also get insights from our analytics database. Want more information? Read our post on creating an effective social media strategy.
3) Bakery Shop
You don’t have to be a master baker or a licensed chef to make your own cakes and pastries. There are already established baking and pastry recipes available online, you just need some creativity and imagination to design your own unique creations from these basic recipes. It’s highly recommended that you take courses in baking at home before venturing into it professionally.
People prefer homemade baked goods over store-bought ones because they look better, taste better, and often cost less! It is estimated that there are nearly 15 million small-scale bakeries in India; clearly, there is a huge demand for bakers in India which will make it easier for you to start up your business here. If you decide to go down this route, then be sure to read our guide on how to start a bakery business.
4) Taxi Service
While we all like to talk about Uber and Lyft as major disruptions, it’s not necessary to create an entirely new type of service to make money driving people around town (though there is a business case for creating such a service). You can use apps like Uber or Lyft to enter and gain traction in markets that already exist—like local taxi services and airport transportation services, for example.
Working as a driver allows you to meet tons of new people while being your own boss; you’ll also enjoy added flexibility by being able to work when you want on your own schedule, from wherever you want—although, these aren’t your only options.
5) Mobile Repairing Shop
The majority of people carry a smartphone, which means there’s a huge market for mobile repairs. One way to get started is by looking for old devices (like broken iPhones) and fixing them up with parts you might already have to lie around, or by purchasing smartphones in bulk from e-waste recycling centers.
After that, you can rent out cheap workstations at events and festivals to do repairs while making new contacts with vendors who would be interested in purchasing used devices at low prices from you; it helps to have friends in these circles so that they can help you find e-waste devices at low prices.
If you’re just starting out, there are plenty of guides available online about repairing smartphones yourself without buying expensive equipment first – so give it a shot! It’s not as easy as it sounds, but if you put your mind to it, you’ll make money in no time.
Alternatively, try reselling or refurbishing laptops and desktops instead – a laptop purchase will only set you back by Rs 10k and when fixed up, will fetch much more than what was initially spent on it. As always though, make sure your business idea has legs before jumping into anything!
If I’m planning to start something on my own then I should need some capital too right?
6) Medicine Delivery System
Medicine delivery services are in high demand in India with healthcare being a booming industry. According to a 2015 report by Transparency Market Research, India’s market for pharmaceuticals was valued at $28 billion and is expected to reach $50 billion by 2019; that’s a growth of 9% per year for nearly 5 years, which is unprecedented for any major economy in world history.
However, start-up costs can be quite high as doctors and pharmacies aren’t required to send prescriptions electronically so you’ll have to make sure you’re willing to invest what it takes before starting out because it may not turn out profitable until much later on when your company has scaled sufficiently large enough.
7) App Development
Technology has become an essential part of our lives, and with mobile app development on a high, it is important to get yourself up to speed in case you are thinking of starting a business with just Rs. 1 lakh. While large-scale enterprises and businesses prefer companies such as Tata Consultancy Services (TCS) or Infosys Limited for their needs.
There are multiple ways in which small-time entrepreneurs can take advantage of mobile application development services provided by startups such as Zapr Media Solutions Pvt Ltd., Flyte Mobile Solutions Private Limited, and Digital2Touch Technologies Pvt Ltd., to name a few. Having an app for your business is an easy way for you to establish your brand’s identity and reach out to your target audience within minutes of launching it.
In fact, according to Statista, more than 60% of smartphone users download apps from Google Play Store every month. To help you start your own business and develop an app for it, we have listed down some tips that will help you choose between different service providers.
8) Mobile Home Theaters
Home theaters have become an integral part of almost every household, especially for people who love to watch movies at home. But buying a theater system is a costly affair, as you will be paying thousands of rupees for it. Now there is a simple and cheap solution available that can bring theater to your home at just half price. All you need is a mobile projector and screen, which can be bought from certain online stores at around 50 thousand rupees.
Then all you need to do is put them together in front of any wall or window in your house and enjoy your favorite shows without having to go out of home! What’s more, if you want to throw a movie night party with friends and family, then using these devices would be an excellent idea. What better way to save money on entertainment than by doing it yourself?
Also since these devices are compact in size they don’t take up much space. So if you are looking for some fun time activity with friends and family then try setting up one of these home theaters today! The Easiest Way To Be Your Own Boss: Starting your own business is one of those things that everyone dreams about but very few actually end up doing.
Also Read: How Can a Business Earn 1 Lakh Per Month?
Starting a business doesn’t require large investments of money, time, or space and it gives you unlimited potential to create your own schedule and way of doing things. It may not make you Bill Gates rich in a year, but it will give you complete control over your professional life, enable you to follow your passions, see ideas through from start to finish, and feel a greater sense of fulfillment at work.
Most importantly, starting your own business is an incredibly rewarding experience that can contribute greatly to personal growth both personally and professionally. The most important first step is simply taking that step towards making things happen for yourself!
What does 1 Lac mean?
One Lakh in Hindi and other Indian languages is an informal expression for 100,000. It’s derived from Arabic لكة Lakha. In Pakistan, one lakh refers to 100,000 while in Bangladesh it refers to 10 million.
How do I set up a business in my city?
To be successful, you need to know your competition and how much you need to sell in order to break even. To get a better idea of what your competitors are doing, attend industry events or simply walk through local storefronts.
What is the minimum capital required to start a business?
There is no hard and fast rule, but an extremely rough estimate of how much money you need to start a business would be around ₹1 lakh. However, it all depends on what kind of business you want to set up.
What are the legal requirements to start a Business?
To start your own business, you need to understand that there are several steps involved in taking a new venture from an idea to a money-making venture. It isn’t enough just to have an idea; you must also investigate potential legal.