Business Ideas

Market Scope/Potential: According to ResearchAndMarket report India pet care industry advanced with a value CAGR of 23% during 2012-17. According to the analysis by ‘Type’ this market will grow with a CAGR of over 17% during 2016 – 2021. 

Service Description: Having a pet animal is a very common thing...

Market Scope/Potential: According to ResearchAndMarket report India pet care industry advanced with a value CAGR of 23% during 2012-17. According to the analysis by ‘Type’ this market will grow with a CAGR of over 17% during 2016 – 2021. 

Service Description: Having a pet animal is a very common thing but with the change in lifestyle and rise in income; the care towards the pet animals has gone to another level. Pet lovers want their pets to live a luxurious life and thus demanding wide range of services like Food, Healthcare, Grooming, Travel (it is difficult to travel with pets,...

Market Scope/Potential: According to ResearchAndMarket report India pet care industry advanced with a value CAGR of 23% during 2012-17. According to the analysis by ‘Type’ this market will grow with a CAGR of over 17% during 2016 – 2021. 

Service Description: Having a pet animal is a very common thing but with the change in lifestyle and rise in income; the care towards the pet animals has gone to another level. Pet lovers want their pets to live a luxurious life and thus demanding wide range of services like Food, Healthcare, Grooming, Travel (it is difficult to travel with pets, so a service to move pets is a much needed one), Shelter (when people in home went for vacation, who will take care of pets?), Accessories, Toys, Training, Events, etc. There are a few pet Healthcare, Accessories shop, and Shelter center but no one is offering all type of pet care services at one place. If there is one stop shop for all the pet care and services then pet lovers won’t go anywhere.

Opportunities:

• A new type of service
• Less or no Competition
• Huge Profits

Risks:

• Takes time to get into the market
• Huge investments

Entrepreneurial Qualities

• Marketing & Advertising techniques
• Can handle huge investments
• Patience

Dos

•    The location should be within the reach of the high-income group

•    Attract and retain customers

•    A bonding with Pets

•    Necessary safety precautions

Don’ts

•    Should not hurt pets

Conclusion: The need for pet care and other pet services are growing in India and it is the right time to get into the market.

Market Potential:

• According to a report from PricewaterhouseCoopers (PwC), while revenue from digital media will continue to exhibit stronger growth, non-digital media will still contribute well over 80% of global consumer revenues in 2019.
• Total global advertising revenues will rise at a CAGR of 4.7% to 2019. Non-digital will still...

Market Potential:

• According to a report from PricewaterhouseCoopers (PwC), while revenue from digital media will continue to exhibit stronger growth, non-digital media will still contribute well over 80% of global consumer revenues in 2019.
• Total global advertising revenues will rise at a CAGR of 4.7% to 2019. Non-digital will still contribute over 60% of global ad spend in 2019.
• Big companies and MNCs are the clients

Description: To set up outdoor advertising services to offer outdoor print services like posters on walls, benches, buses, hoarding, billboards, etc to give fundamental of advertising to companies. To provide complete advertising services; from...

Market Potential:

• According to a report from PricewaterhouseCoopers (PwC), while revenue from digital media will continue to exhibit stronger growth, non-digital media will still contribute well over 80% of global consumer revenues in 2019.
• Total global advertising revenues will rise at a CAGR of 4.7% to 2019. Non-digital will still contribute over 60% of global ad spend in 2019.
• Big companies and MNCs are the clients

Description: To set up outdoor advertising services to offer outdoor print services like posters on walls, benches, buses, hoarding, billboards, etc to give fundamental of advertising to companies. To provide complete advertising services; from ‘Idea’ to ‘Print’ to ‘Hoardings’.

Opportunities:

• Huge Profits
• Less investment
• Most of the people are not focusing on this industry

Risks:

• A little difficult to enter into the market
• It is very challenging

Dos:

• Understand client requirement
• Plan within budget
• Careful on fonts, Styles, colors, and taglines
• Must hire knowledgeable & highly skilled professionals

Don’ts:

• Invest too much

Entrepreneurial Qualities:

• Must be creative,
• Must have knowledge of media and how advertising works
• Ready to do experiments and risks
• An understanding of how to attract the masses

Conclusion: Outdoor advertising is very challenging; you must be on foot all the time. To get into this business you must be mentally very strong and ready to accept failure. You can be a winner or loser and it all depends on simple decisions to you take. Creativity and Networking is the soul of this industry. The revenue is increasing every year. A team of highly skilled professionals is the secret to the success of this business.

Market potential:

• According to AlliedMarketResearch, global transformer oil market sales to reach $3.4 billion by 2020
• In 2014, the consumption of transformer oils was 1,437.8 million liters across the globe, which is expected to increase at 6.3% from 2015 to 202
• Urbanization, demand for electricity, the need for continuous service...

Market potential:

• According to AlliedMarketResearch, global transformer oil market sales to reach $3.4 billion by 2020
• In 2014, the consumption of transformer oils was 1,437.8 million liters across the globe, which is expected to increase at 6.3% from 2015 to 202
• Urbanization, demand for electricity, the need for continuous service of transformers are the factors influencing the growth of this industry

Product Description: To set up a small industry to manufacture mineral insulating oil which is used in oil-filled power transformers, some types of high voltage switches, circuit breakers, and capacitors. It is refined oil and is obtained by fractional...

Market potential:

• According to AlliedMarketResearch, global transformer oil market sales to reach $3.4 billion by 2020
• In 2014, the consumption of transformer oils was 1,437.8 million liters across the globe, which is expected to increase at 6.3% from 2015 to 202
• Urbanization, demand for electricity, the need for continuous service of transformers are the factors influencing the growth of this industry

Product Description: To set up a small industry to manufacture mineral insulating oil which is used in oil-filled power transformers, some types of high voltage switches, circuit breakers, and capacitors. It is refined oil and is obtained by fractional distillation and subsequent treatment of crude oil. Power manufacturers and distribution companies are

Opportunities:

• Good Demand and it will increase
• Less competition
• No need for huge machinery
• Once a client will be a client forever

Risks

• Continuous fluctuation in Crude Oil
• The entry barrier is high

Dos

• Careful while purchasing machinery and crude oil
• Must follow safety precautions
• The final product must have few technical parameters

Don’ts

Hire unskilled operators and engineers

Entrepreneurial Qualities:

Choosing the right crude oil and machinery

Selecting talented engineers and workers

Knowledge of understanding the crude oil market

Conclusion: Decide which type of Transformer oil to be manufactured and do research on machinery and crude oil. Purchase machinery and start your business.

Market Potential: According to AlliedMarketResearch Modular Switch Market is expected to garner $1,595.0 million by 2022, registering a CAGR of 22% during the forecast period 2016-2022.

Product description: Manufacturing of electrical switches and sockets has good demand in this world of urbanization and industrialization. Various types of Switches...

Market Potential: According to AlliedMarketResearch Modular Switch Market is expected to garner $1,595.0 million by 2022, registering a CAGR of 22% during the forecast period 2016-2022.

Product description: Manufacturing of electrical switches and sockets has good demand in this world of urbanization and industrialization. Various types of Switches and Sockets are available and can be customized as per the requirement. 

Opportunities:

Good demand

No need for huge machinery and space

Risks:

Competition

Dos

• Must use high-grade quality raw material
• Buy the machinery that is needed and which your budget
• Follow safety precautions
• Products must go through...

Market Potential: According to AlliedMarketResearch Modular Switch Market is expected to garner $1,595.0 million by 2022, registering a CAGR of 22% during the forecast period 2016-2022.

Product description: Manufacturing of electrical switches and sockets has good demand in this world of urbanization and industrialization. Various types of Switches and Sockets are available and can be customized as per the requirement. 

Opportunities:

Good demand

No need for huge machinery and space

Risks:

Competition

Dos

• Must use high-grade quality raw material
• Buy the machinery that is needed and which your budget
• Follow safety precautions
• Products must go through a quality check

Don’ts

• Invest heavily in raw material
• Hire Unskilled operators

Entrepreneurial Skills:

• Choosing the right methods and machinery
• Selecting the right workers
• Calculating the demand

Conclusion: Do research on the type of switches and sockets to know which has more demand and then buy the right machinery to manufacture those switches and sockets.

Market scope:

• According to ResearchAndMarket.com, The Global Fitness Trackers Market size was valued at $17,907 million in 2016 and is expected to reach $62,128 million by 2023, registering a CAGR of 19.6% during the forecast period.
• Few vehicles are deploying health trackers to understand the real-time health condition of...

Market scope:

• According to ResearchAndMarket.com, The Global Fitness Trackers Market size was valued at $17,907 million in 2016 and is expected to reach $62,128 million by 2023, registering a CAGR of 19.6% during the forecast period.
• Few vehicles are deploying health trackers to understand the real-time health condition of driving. It is now in experiment mode, in future they will become a must in vehicles and thus will have a high demand
• In the future, health tracking devices may become default features of Smartphones

Description: Manufacturing of Health tracking devices and fitness trackers which tracks heart-rate, blood pressure,...

Market scope:

• According to ResearchAndMarket.com, The Global Fitness Trackers Market size was valued at $17,907 million in 2016 and is expected to reach $62,128 million by 2023, registering a CAGR of 19.6% during the forecast period.
• Few vehicles are deploying health trackers to understand the real-time health condition of driving. It is now in experiment mode, in future they will become a must in vehicles and thus will have a high demand
• In the future, health tracking devices may become default features of Smartphones

Description: Manufacturing of Health tracking devices and fitness trackers which tracks heart-rate, blood pressure, respiration rate, temperature, glucose rate, oxygen rate, etc. These are highly useful for patients suffering from BP, Diabetes, Thyroid, and other diseases. Health trackers/wearable fitness trackers market is categorized into wrist-wear, smart garments & body sensors, legwear and others. They have a wide range of sensors to track fitness and health levels.

Opportunities:

• Good Demand
• Great Profits

Risks:

• Competition
• Investment

Dos:

• Study and understand how Fitness tracking devices work
• Understand the market
• Can manufacture various sensors of fitness devices and sell those sensors
• Research where other fields trackers various can be used

Don’t:

• Invest too much
• Hire unskilled

Entrepreneurial skills:

• Exploring the market
• Knowledge of Sensors and other components required for Fitness tracking devices

Conclusion: You can make it either as B2B or enter the retail market. It is very new in this country. The demand will grow in the coming future. A good team of manufacturing and marketing is the key to become successful.

Market Potential:

• According to the new market research report “GPS Tracking Device Market is worth 2.89 Billion USD by 2023, at a CAGR of 12.91?tween 2017 and 2023.”
• “Commercial vehicle deployment type is expected to hold the largest market share in 2023”
• Most of the businesses will get benefit from...

Market Potential:

• According to the new market research report “GPS Tracking Device Market is worth 2.89 Billion USD by 2023, at a CAGR of 12.91?tween 2017 and 2023.”
• “Commercial vehicle deployment type is expected to hold the largest market share in 2023”
• Most of the businesses will get benefit from this service

Description: To manufacture Global positioning tracking systems. GPS systems are used in Travel buses, trains, Goods carriers, and other application to know the location. GPS system plays a key role in Autonomous/driverless cars.

Opportunities:

• Great demand
• High profits        
• Commercial vehicles (cars, cargo vehicles) are the biggest...

Market Potential:

• According to the new market research report “GPS Tracking Device Market is worth 2.89 Billion USD by 2023, at a CAGR of 12.91?tween 2017 and 2023.”
• “Commercial vehicle deployment type is expected to hold the largest market share in 2023”
• Most of the businesses will get benefit from this service

Description: To manufacture Global positioning tracking systems. GPS systems are used in Travel buses, trains, Goods carriers, and other application to know the location. GPS system plays a key role in Autonomous/driverless cars.

Opportunities:

• Great demand
• High profits        
• Commercial vehicles (cars, cargo vehicles) are the biggest market

Risks:

• Competition
• Entrepreneurial Qualities:
• Creativity
• Exploring new markets

Dos:

• Study and understand another GPS providers’ weakness
• Research where other areas trackers can be used and use it as a marketing tool
• Can manufacture GPS chip or complete device

Don’ts:

• Invest too much
• Hire unskilled

Conclusion: As it is a B2B, there is a need for good network and great marketing techniques to get orders. The demand will rise in the coming future and so it is the right time to enter the market to capture that demand. An experienced team is must to become successful.

Market Scope:

• In the year 2017, the value of the global gaming industry is of $108.9 billion.
• India ranked 17th with a valuation of $818 million and with a CAGR of 11.14%

Description: To set up high-tech gaming in a metropolitan city to provide an experience of realistic using...

Market Scope:

• In the year 2017, the value of the global gaming industry is of $108.9 billion.
• India ranked 17th with a valuation of $818 million and with a CAGR of 11.14%

Description: To set up high-tech gaming in a metropolitan city to provide an experience of realistic using new tech-gadgets and software to gamers, students, children, and youth. Gaming cafes these days are loaded with new technologies like AI and VR and innovative gadgets.

Opportunities:

• Good Demand
• Less competition
• Less Manpower

Risks:

• Huge investment
• Place of café

Dos:

• Must update with technology and latest gadgets
• Can...

Market Scope:

• In the year 2017, the value of the global gaming industry is of $108.9 billion.
• India ranked 17th with a valuation of $818 million and with a CAGR of 11.14%

Description: To set up high-tech gaming in a metropolitan city to provide an experience of realistic using new tech-gadgets and software to gamers, students, children, and youth. Gaming cafes these days are loaded with new technologies like AI and VR and innovative gadgets.

Opportunities:

• Good Demand
• Less competition
• Less Manpower

Risks:

• Huge investment
• Place of café

Dos:

• Must update with technology and latest gadgets
• Can start as a low budget gaming café with VR headsets (If your location is surrounded by lower income group people)
• Must go for high-end gaming stations and gadgets (If you want to set up in shopping malls or target higher income group)

Don’t:

• Investment too much
• Buy every gadget or game

Entrepreneurial Qualities:

• Updating with technology
• Judgment to attract masses
• A little knowledge of gaming hardware, Software, gadgets, etc.

Conclusion: The place where you want to set up will decide whether you can go with high-end gaming café or low budget station. If you want to earn good profits you must go for high-end gaming stations.

Market scope:

• The increasing number of News channels creating the demand for freelance reporters
• News channel market is worth INR 500 crores in the year 2017

Description: Freelance reporters collect information, latest happenings, news, new stories, covering events, sports and movie news, and other information on the as-needed basis....

Market scope:

• The increasing number of News channels creating the demand for freelance reporters
• News channel market is worth INR 500 crores in the year 2017

Description: Freelance reporters collect information, latest happenings, news, new stories, covering events, sports and movie news, and other information on the as-needed basis. The whole idea is to act as a bridge between media channels and free reporters. It is like a 3rd party services. The company works for various newspapers and media channels, and freelancers work for the company.

Opportunities:

• Good demand
• Less competition

Risks:

• Payment is not consistent
• Sometimes...

Market scope:

• The increasing number of News channels creating the demand for freelance reporters
• News channel market is worth INR 500 crores in the year 2017

Description: Freelance reporters collect information, latest happenings, news, new stories, covering events, sports and movie news, and other information on the as-needed basis. The whole idea is to act as a bridge between media channels and free reporters. It is like a 3rd party services. The company works for various newspapers and media channels, and freelancers work for the company.

Opportunities:

• Good demand
• Less competition

Risks:

• Payment is not consistent
• Sometimes the entrepreneur must do the work
• The availability of freelance reporters

Dos:

• Good networking
• Very disciplined and available all the time
• Multi-tasking

Entrepreneurial qualities:

• Writing skills, critical thinking
• Knowledge of video cameras, microphones, etc.
• Knowledge of current political, economic scenario and current affairs
• Degree in English, Journalism, or Communication is preferred
• Networking skills to get the work
• patience

Conclusion: Having a good network with media channels and newspapers is the soul of this business. Prior experience of reporting and editing will add. Will become profitable in the long run.  

Market Scope: With the rise in individual income and the desire to make weddings and birthday parties in grandeur way are the drivers of this business. Especially, when it comes to marriages people don’t mind in spending a huge amount of money in decorating function halls and cars to get...

Market Scope: With the rise in individual income and the desire to make weddings and birthday parties in grandeur way are the drivers of this business. Especially, when it comes to marriages people don’t mind in spending a huge amount of money in decorating function halls and cars to get the richness and royal feel. Good demand both in rural, urban area and metropolitan. 

Service Description:  To provide decorating services using fresh & imported flowers and colorful balloons to make function halls, wedding halls look live. At the same time, one can sell flowers and balloons to retailers and wholesalers....

Market Scope: With the rise in individual income and the desire to make weddings and birthday parties in grandeur way are the drivers of this business. Especially, when it comes to marriages people don’t mind in spending a huge amount of money in decorating function halls and cars to get the richness and royal feel. Good demand both in rural, urban area and metropolitan. 

Service Description:  To provide decorating services using fresh & imported flowers and colorful balloons to make function halls, wedding halls look live. At the same time, one can sell flowers and balloons to retailers and wholesalers.

Opportunities:

• Good demand
• Moderate competition
• Less budget
• No need for huge machinery and space

Risks:

• Should work with respect to tastes of clients
• Availability of flowers

Dos

• Flowers must be fresh
• Should keep a stock of flowers and balloons
• Can do this business online
• Can do as Part-time as it is a seasonal business

Don’ts

• Buy stale flowers and low-quality balloons
• Hire unprofessional workers

Entrepreneurial Qualities:

• Creativity
• Understand the requirements of the client
• Discipline to provide the right service @ the right time

Approximate Investment: Up to 1 lakh

Approximate Returns: 20 to 25 thousand based on the number of clients

Approximate breakeven time: 6 to 8 months

Conclusion: Anyone who has an interest in decoration services can start this business as a full time or part-time. Knowledge of a variety of flowers and their availability, color combination, creativity and understanding customers’ need is a must. Above all, doing within the budget is very important.

Market Scope:

• According to IBM Digital Experience survey, 2015, 56% of marketers believe that customized content leads to higher engagement rates and increases brand recall
• 73% of organizations hire content strategist to manage their content

Description: To provide content writing services to digital marketing agencies, companies and startups, which...

Market Scope:

• According to IBM Digital Experience survey, 2015, 56% of marketers believe that customized content leads to higher engagement rates and increases brand recall
• 73% of organizations hire content strategist to manage their content

Description: To provide content writing services to digital marketing agencies, companies and startups, which include writing articles, blogs, eBooks, taglines, descriptions, scripts, etc. to make a product/service reach more

Opportunities:

• Good Demand
• Demand will rise
• Easy to start

Risks:

• To have a clear difference between creative writing and content writing
• Not having writing

Dos

• Study and understand the various types of writing...

Market Scope:

• According to IBM Digital Experience survey, 2015, 56% of marketers believe that customized content leads to higher engagement rates and increases brand recall
• 73% of organizations hire content strategist to manage their content

Description: To provide content writing services to digital marketing agencies, companies and startups, which include writing articles, blogs, eBooks, taglines, descriptions, scripts, etc. to make a product/service reach more

Opportunities:

• Good Demand
• Demand will rise
• Easy to start

Risks:

• To have a clear difference between creative writing and content writing
• Not having writing

Dos

• Study and understand the various types of writing styles
• Can start as a freelancer
• Understand client need
• Write for the product/services

Don’ts

• Give plagiarized content

Entrepreneurial qualities:

• Writing and language skills
• Networking skills
• Eye to detail

Conclusion: If you are confident that you have good writing and English grammar then you can give a try. It requires a great amount of effort to become a professional content writer. An understanding target audience is a key to success.