Business Ideas

Product/service description

The business focuses on the import of toys from China and selling them to resellers (retailers or online sellers) in our country.

Market Scope/Potential

Now that the government has been supporting the growth of business in our country, one field that has been seeing a boom is the...

Product/service description

The business focuses on the import of toys from China and selling them to resellers (retailers or online sellers) in our country.

Market Scope/Potential

Now that the government has been supporting the growth of business in our country, one field that has been seeing a boom is the export and import business. With the advent of ecommerce, business has become easier than ever. Therefore, it is not surprising to see that very small entrepreneurs have also entered the field of export and import and are doing a great business. Importing toys from China and selling in our country...

Product/service description

The business focuses on the import of toys from China and selling them to resellers (retailers or online sellers) in our country.

Market Scope/Potential

Now that the government has been supporting the growth of business in our country, one field that has been seeing a boom is the export and import business. With the advent of ecommerce, business has become easier than ever. Therefore, it is not surprising to see that very small entrepreneurs have also entered the field of export and import and are doing a great business. Importing toys from China and selling in our country has become very common. However, the business is still doing well, as the demand is growing continuously.

Opportunities

Initial investment is low.

Business has a huge potential of growth.

Business can yield good profit.

Business can also be started as a part-time job.

Advent of ecommerce has improved the scope of business.

Risks

Business must be registered and an IEC (Import and Export Code) must be obtained.

Sometimes there is a risk of loss of the products or the money due to transportation problems.

Import of the products needs a lot of formalities and paper work.

Customs duties need to be paid while receiving the products.

Entrepreneurial qualities

Any person who wants to establish the business must prepare a proper business plan. He/she should be aware of the formalities required before starting the business. The person should also have good negotiation abilities to obtain the products at a good price. Good networking with resellers in our country will help in selling the imported products with ease.

Conclusion

Import and export business is an excellent opportunity for people who want to earn good profit with less investment. Once the business person becomes accustomed with the entire process, the scope of growth is immense.

Product/service description

This business involves the wholesale distribution of FMCG products like biscuits, oil, soft drinks and bread to retail shops and other general customers.

Market Scope/Potential

Fast moving consumer goods are relatively low in price and used for regular consumption. There is a huge demand for such products as...

Product/service description

This business involves the wholesale distribution of FMCG products like biscuits, oil, soft drinks and bread to retail shops and other general customers.

Market Scope/Potential

Fast moving consumer goods are relatively low in price and used for regular consumption. There is a huge demand for such products as they are mostly the basic necessities of people. Any business dealing with the distribution of such commodities will do well if proper marketing is done.

Opportunities

The price of the commodities is low and they are sold rapidly, so they do not remain on the shelves for a long time....

Product/service description

This business involves the wholesale distribution of FMCG products like biscuits, oil, soft drinks and bread to retail shops and other general customers.

Market Scope/Potential

Fast moving consumer goods are relatively low in price and used for regular consumption. There is a huge demand for such products as they are mostly the basic necessities of people. Any business dealing with the distribution of such commodities will do well if proper marketing is done.

Opportunities

The price of the commodities is low and they are sold rapidly, so they do not remain on the shelves for a long time.

Easy to promote the business as the commodities are common. Special advertisements are not required.

Profit margin is high.

Risks

Competition is more, so it is important to make the business stand out by using creative methods.

These are high volume commodities, so there has to be a proper place to store them.

The investment required is more.

Good networking is required to make the distribution business a success.

Entrepreneurial qualities

This business does not need a person to possess any special skill. There is also no need to invest a large amount of money. A proper place to store the products and a good marketing plan is enough to enjoy a reasonable profit.

Conclusion

The business will do well because FMCG products are daily use commodities. However, since the competition is tough, a good marketing and innovative approach is required to make the business grow.

Product/Service Description

This business provides transportation/courier services to the medical organizations within the city. The business deals in the efficient and timely delivery of blood samples, patient reports, culture samples, donated organs, medicines, vaccines, etc.

Market Scope / Potential

Medical items often need special care while being transported from...

Product/Service Description

This business provides transportation/courier services to the medical organizations within the city. The business deals in the efficient and timely delivery of blood samples, patient reports, culture samples, donated organs, medicines, vaccines, etc.

Market Scope / Potential

Medical items often need special care while being transported from one location to another. Therefore, medical organizations only prefer to use quick, efficient and trusted courier services. Entering the field of medical courier services requires a great deal of responsibility, skill and knowledge. A business which provides quality services and understands the nuances of the medical field will definitely succeed...

Product/Service Description

This business provides transportation/courier services to the medical organizations within the city. The business deals in the efficient and timely delivery of blood samples, patient reports, culture samples, donated organs, medicines, vaccines, etc.

Market Scope / Potential

Medical items often need special care while being transported from one location to another. Therefore, medical organizations only prefer to use quick, efficient and trusted courier services. Entering the field of medical courier services requires a great deal of responsibility, skill and knowledge. A business which provides quality services and understands the nuances of the medical field will definitely succeed and become the first choice of the medical organizations.

Opportunities

There is great demand for good courier services that can provide quality services with efficiency.

The amount of capital required to start the business is low.

The profit margin is good. 

Risks

The service requires a great deal of responsibility, as the medical items hold a lot of importance.

The person involved in the courier services must be aware of the general medical terminologies and requirements.

The vehicle used for transportation must be completely equipped to carry the crucial medical items in different kinds of conditions required. For eg. some samples require frozen temperature, while others need cold or normal temperature. There are some samples that are photosensitive and must be carried in complete darkness.

The driving skills of the driver must be flawless.

All the people handling the medical items must be aware of the kinds of precautions to be taken.

The business should be completely insured.

All the people associated with the courier services must be properly trained about the medical items that they need to carry. 

Entrepreneurial Qualities

Any person entering the business of medical courier services must be aware of the needs and precautions of handling the medical items. He/she should understand that their job needs a great deal of responsibility and efficiency. In addition, the person involved in the sales should have good contacts with medical organizations, health facilities and medical personnel to acquire more business deals.

Conclusion

Medical Courier business has a good demand if the services provided are fast and efficient. Good relationships with doctors, hospitals owners and other medical organizations will help to fetch more business opportunities.

Product/ service description

Sell good quality organic milk to nearby homes and hotels. Sell the cow dung to people who make manure, compost or fuel out of it.

Market Scope /Potential

Milk forms the vital food component in each house, so dairy farm business has a good scope in the...

Product/ service description

Sell good quality organic milk to nearby homes and hotels. Sell the cow dung to people who make manure, compost or fuel out of it.

Market Scope /Potential

Milk forms the vital food component in each house, so dairy farm business has a good scope in the market if all the factors affecting it are controlled efficiently. Cow dung is also a great source of manure and fuel, if utilised in an eco-friendly way.

Opportunities

Milk is in good demand all over.

It is an eco-friendly business.

This business suits both educated and uneducated people.

This is...

Product/ service description

Sell good quality organic milk to nearby homes and hotels. Sell the cow dung to people who make manure, compost or fuel out of it.

Market Scope /Potential

Milk forms the vital food component in each house, so dairy farm business has a good scope in the market if all the factors affecting it are controlled efficiently. Cow dung is also a great source of manure and fuel, if utilised in an eco-friendly way.

Opportunities

Milk is in good demand all over.

It is an eco-friendly business.

This business suits both educated and uneducated people.

This is an old popular business of rural India, which is now having a good hold in urban India too.

The business grows on its own when a new female calf is born.

Risks

The animals need proper care to prevent unnecessary infections.

Good quality fodder should be given to cows to keep them healthy and milk-producing for a long time.

Proper care should be given to the calves.

A lot of investment is required to start the business. A good working capital is also required to keep the business going.

A team of people is required to take care of the animals.

Proper cleanliness and hygiene should be maintained so that the cows are healthy and the milk produced is pure.

Entrepreneurial skills

A person who is starting the business should be well aware of the needs of animals. He/she should be trained in animal management. Availability of open land is also very important if one wants to start a dairy farm. The person should have good capital to invest during the initial phase of the business. The person should also be familiar with waste management so that all the waste produced can be efficiently channelized and used for the right purpose.

Conclusion

This business is for people who love dealing with animals, have sufficient knowledge about the care of cows, have a lot of land and capital to invest and are ready to work hard and be disciplined.

Product/service description

The coffee shop will sell hot freshly brewed coffee along with some homemade desserts, cakes and snacks which people can sit and enjoy or have on the go.

Market Scope /Potential

Coffee is one of the favourite beverages in India. Coffee lovers can drink it at any time...

Product/service description

The coffee shop will sell hot freshly brewed coffee along with some homemade desserts, cakes and snacks which people can sit and enjoy or have on the go.

Market Scope /Potential

Coffee is one of the favourite beverages in India. Coffee lovers can drink it at any time of the day. This shop will provide coffee lovers with authentic freshly brewed coffee along with some homemade desserts, cakes and snacks. This food combination is perfect for an evening time with friends or even on a busy morning when one has rush to work.

Opportunities

Coffee and homemade snacks...

Product/service description

The coffee shop will sell hot freshly brewed coffee along with some homemade desserts, cakes and snacks which people can sit and enjoy or have on the go.

Market Scope /Potential

Coffee is one of the favourite beverages in India. Coffee lovers can drink it at any time of the day. This shop will provide coffee lovers with authentic freshly brewed coffee along with some homemade desserts, cakes and snacks. This food combination is perfect for an evening time with friends or even on a busy morning when one has rush to work.

Opportunities

Coffee and homemade snacks are a good combination for people who want to eat light or are in a hurry

A well-planned coffee shop business yields good profit.

You have the freedom of using your creativity in your shop and food.

Homemade snacks and desserts are healthier and tastier options.

Risks

Huge capital is required.

The food and beverage provided should always be fresh.

Extra food cannot be stored for a long time.

It is a time-consuming business.

A team of hardworking and sincere people is required to make the business a success.

Entrepreneurial qualities

A person venturing into the coffee shop business must be able to invest a lot of money initially. He/she should also have the creativity to keep innovating the business as per the need. A proper business plan with respect to advertising and marketing is essential to gain profit.

Conclusion

This business is for people who have the passion to be their own boss, are ready to plunge into the market with a huge capital and emerge a winner with their creativity and hard work.

Product/Service description

The business aims at establishing a money exchange counter in the commercial area of the city and help people in exchanging their currency at a reasonable rate.

 

Market Scope/Potential

These days, money exchange counters can do a fairly good business because the number of people needing foreign...

Product/Service description

The business aims at establishing a money exchange counter in the commercial area of the city and help people in exchanging their currency at a reasonable rate.

 

Market Scope/Potential

These days, money exchange counters can do a fairly good business because the number of people needing foreign currencies has increased significantly. The reason behind the increased demand is that people have started being involved in foreign trade more than before. The number of international holidays has also increased. A rise in the demand surely means a good scope of business.

 Opportunities

Lately, the demand of foreign...

Product/Service description

The business aims at establishing a money exchange counter in the commercial area of the city and help people in exchanging their currency at a reasonable rate.

Market Scope/Potential

These days, money exchange counters can do a fairly good business because the number of people needing foreign currencies has increased significantly. The reason behind the increased demand is that people have started being involved in foreign trade more than before. The number of international holidays has also increased. A rise in the demand surely means a good scope of business.

 Opportunities

Lately, the demand of foreign currency has increased.

The business does not require a great investment.

Good profit can be earned if a strong marketing plan is made and executed.

The business requires very little space.

 Risks

It is mandatory to acquire a license before starting the business.

 Government taxes need to be paid on time.

 A detailed study of the market is required to develop marketing strategies which can yield profit.

 Location of the money exchange counter matters a lot.

 There is a lot of competition in the market.

 The business might not do well on all the days. There can be a few slow business days too, depending on the demand.

 The business might require the business person to open a merchant bank account if the transactions are more.

 Entrepreneurial qualities

Any person who wants to enter into this business must understand the financial market closely. Smart marketing strategies can be incorporated to enhance the profit while also giving a good rate to the customers.  Keeping an eye on the currency fluctuation can help in maximizing the profit of the business and keep alluring the customers continuously.

 Conclusion

Money exchange business is a good opportunity for people who understand the finance market properly. This business can mainly flourish in places where people are greatly involved in foreign trade and tourism.

Product/service description

To establish a small factory for making authentic chocolates and supplying them to whole sellers, retailers, party organisers and for other occasions.

Market Scope/Potential

There's no dessert more popular and convenient than chocolates. On top of that, if the chocolates are authentic homemade recipes of different flavours, their...

Product/service description

To establish a small factory for making authentic chocolates and supplying them to whole sellers, retailers, party organisers and for other occasions.

Market Scope/Potential

There's no dessert more popular and convenient than chocolates. On top of that, if the chocolates are authentic homemade recipes of different flavours, their demand will always be exceeding the expectations. Therefore, a chocolate making industry is a good business opportunity.

Opportunities

Homemade chocolates are in high demand.

Their recipes can be customised and many new flavours, shapes and sizes can be created.

Their demand increases during festivals.

Less investment is required to start...

Product/service description

To establish a small factory for making authentic chocolates and supplying them to whole sellers, retailers, party organisers and for other occasions.

Market Scope/Potential

There's no dessert more popular and convenient than chocolates. On top of that, if the chocolates are authentic homemade recipes of different flavours, their demand will always be exceeding the expectations. Therefore, a chocolate making industry is a good business opportunity.

Opportunities

Homemade chocolates are in high demand.

Their recipes can be customised and many new flavours, shapes and sizes can be created.

Their demand increases during festivals.

Less investment is required to start the business.

Risks

Proper registration and license should be required to start the business.

The manufacturing unit needs to have adequate space and the hygiene levels should be maintained.

Special attention should be given to the packaging.

Competition is more, so effective market strategies are required to do a profitable business.

Special training is required to learn the correct chocolate making process. However, presently good training institutions are scarce in India.

Entrepreneurial qualities

Any person entering into this business must learn the correct procedure of making chocolates on a large scale. He/she should also be aware of the competitors and make effective marketing strategies to gain profit.

Conclusion

Chocolate making will do a profitable business if the chocolates have distinct taste and packaging. Good business plan is very necessary to succeed in this field.

Product service description

The business focuses on making beads and stones jewellery and selling them at jewellery shop, craft exhibitions, flea markets, to general customers, friends and family, and also online.

Market Scope/Potential

These days, women love to match their jewellery with their dresses. There are different kinds of beads...

Product service description

The business focuses on making beads and stones jewellery and selling them at jewellery shop, craft exhibitions, flea markets, to general customers, friends and family, and also online.

Market Scope/Potential

These days, women love to match their jewellery with their dresses. There are different kinds of beads and stone jewellery being made for different occasions. The jewellery available at high-end fashion stores are very expensive. A person who is skilled at making customised jewellery can easily start a profitable business with little investment.

Opportunities

There is a huge demand for beads and stone jewellery.

Little investment is...

Product service description

The business focuses on making beads and stones jewellery and selling them at jewellery shop, craft exhibitions, flea markets, to general customers, friends and family, and also online.

Market Scope/Potential

These days, women love to match their jewellery with their dresses. There are different kinds of beads and stone jewellery being made for different occasions. The jewellery available at high-end fashion stores are very expensive. A person who is skilled at making customised jewellery can easily start a profitable business with little investment.

Opportunities

There is a huge demand for beads and stone jewellery.

Little investment is required.

There is a lot scope to add creativity and make various kinds of jewellery.

You also have the option of customising the jewellery as per demand.

There is a scope of growth if the demand increases.

Risks

Competition is more so a lot of advertisement is required to promote the business.

Long hours of dedicated work is required to make the jewellery.

The jewellery should be of a high quality and with a professional finish.

Profit margin is not very huge unless and until one gets a bulk order of jewellery.

Entrepreneurial qualities

Any person who wants to get into the jewellery making business should be skilled in the art of making jewellery. He/she should also be able to put in long hours of dedicated hard work in creating professional looking jewellery.

Conclusion

Jewellery making is a profitable business if a person is skilled in the craft. Setting good prices for the jewellery and effective marketing can help the business to grow.

Product/service description

A retail shop that sells fashion jewellery, sterling silver jewellery, handbags and fashion watches.

Market Scope/ Potential

There is no end to the fashion accessories that women use today. Since wearing real gold jewellery for all the occasions is not a practical idea, women have started opting for...

Product/service description

A retail shop that sells fashion jewellery, sterling silver jewellery, handbags and fashion watches.

Market Scope/ Potential

There is no end to the fashion accessories that women use today. Since wearing real gold jewellery for all the occasions is not a practical idea, women have started opting for fashion jewellery which looks stylish and is reasonably priced. A business that deals in fashion jewellery and accessories can make a good profit if it offers a good variety of products.

Opportunities

Fashion jewellery and accessories are in huge demand.

Not much space is required to open the shop.

The...

Product/service description

A retail shop that sells fashion jewellery, sterling silver jewellery, handbags and fashion watches.

Market Scope/ Potential

There is no end to the fashion accessories that women use today. Since wearing real gold jewellery for all the occasions is not a practical idea, women have started opting for fashion jewellery which looks stylish and is reasonably priced. A business that deals in fashion jewellery and accessories can make a good profit if it offers a good variety of products.

Opportunities

Fashion jewellery and accessories are in huge demand.

Not much space is required to open the shop.

The fashion keeps changing so there is a lot of scope to keep adding variety to the stock.

Fashion jewellery comes in all price ranges so there is something for everyone to buy.

Not much investment is required.

Risks

Advertisement has to be done through many channels like using websites, social networking sites, flyers or word of mouth.

Competition is more so it is a smarter idea to keep an eye on what the competitors are selling.

In order to stand out and make good sales, it is important to keep good quality of products.

Entrepreneurial qualities

No specific skills are required to start the business, but any person planning to start this business must know about the latest fashion trends and try to stock the shop only with quality stuff. He/she should also be aware of the market competition and plan the market strategies accordingly.

Conclusion

Fashion jewellery business has a good scope in the market if the stock in the shop is of high quality and the designs are according to the latest trends. Good market research is definitely going to help the business to grow.

Product/service description

The souvenir shop will be in the heart of the tourist location. It will sell different gift items and mementoes that are unique to the place. It will also sell special handicraft items that will be made by the local artisans. The shop will be rustically decorated and...

Product/service description

The souvenir shop will be in the heart of the tourist location. It will sell different gift items and mementoes that are unique to the place. It will also sell special handicraft items that will be made by the local artisans. The shop will be rustically decorated and will reflect the lifestyle and culture of that place.

Market Scope/Potential

Every tourist travel for fun, experience and memories. What better way to preserve memories than collecting unique items from that place? People love buying local items from a tourist spot. A tastefully decorated souvenir shop with an elegant display...

Product/service description

The souvenir shop will be in the heart of the tourist location. It will sell different gift items and mementoes that are unique to the place. It will also sell special handicraft items that will be made by the local artisans. The shop will be rustically decorated and will reflect the lifestyle and culture of that place.

Market Scope/Potential

Every tourist travel for fun, experience and memories. What better way to preserve memories than collecting unique items from that place? People love buying local items from a tourist spot. A tastefully decorated souvenir shop with an elegant display of unique items will help to attract the customers. Smart marketing and mindful pricing can help in growing the business.

Opportunities

Initially, the business can be started small. The size of the shop does not matter much.

What matters more is the quality of the products and the look of the shop.

The shop will represent the cultural heritage of the tourist place.

Smart marketing and a keen eye on competitors can help in doing a profitable business.

The shop gives an unending scope of playing with creativity.

Risks

There’s a lot of competition in this field.

The shop, no matter how small, must be registered.

The person should have a creative taste.

Good networking is required to attract more customers.

Knowing more than one language can help in building a good relationship with the tourists.

Entrepreneurial qualities

Any person wanting to start a souvenir shop must have the initial capital to give the place a creative look. The person should have a fine artistic taste to understand the needs of the tourists and stock exclusive items accordingly. He/she must also have the ability to attract the customers and present them with items that are memorable.

How does the business work?

Identify a place in a busy area of the tourist location.

Set up a beautifully decorated shop that reflects the culture of the place.

Stock the shop with local gift items and set the price at a minimum profit margin of 50%.

Attract travelers by offering them unique items and mementoes.

Try to keep increasing the sale gradually to break even within 1.5 – 2 years.

Conclusion

A souvenir shop in a tourist location is a profitable business if the marketing is done properly. The shop will not only make money but also help to preserve the culture of the place.