Aiming to be an unbeaten entrepreneur is not about having ideas that no one has but about making them happen the way no one has. There’s no dearth of ideas, but one has to spot the right one.
The common populace’s access to the internet with an increasing requirement for services along with manufactured goods has led to a new turn in the kind of business ventures taken up today. It is no longer necessary to have a vast amount of capital or a tangible product to establish a business.
All this, along with the increasing support provided to start-ups from angel investors and venture capitalists, has made it easier to start a new business.
Zillions of people might have started their entrepreneurial story with a modest amount of Rs. 10 lakhs or even lesser. Some of them might have fallen apart, however, many of them have gone onto becoming estimable success stories. Learning from their empiricism, and following the right path, you can also create a completely different story of your own, one which is way better than all the others.
The first step in that direction is to decide what business you want to set up.We’re putting forth ahead Some Profitable Business Ideas under 10 Lakhs Rupees you get started.
Here’s The List 15 Profitable Business Ideas under 10 Lakhs Rupees in India (2020):
#1. Franchise Stores
- Investment: 6 – 8 lakhs
- ROI period: 6 – 8 months
There are brands in the market today which are already quite established.In addition to a pre-sold customer base, franchises offer a continuous support from the pre-opening stage to operational, training and managerial support required for proper functioning of the store.
In 10 lakhs and under, one can easily get a license to open up a franchise store for a lot of brands.
Start with carrying out some good research about possible options such as healthcare unit, a restaurant, a boutique, departmental store, salons, day-care centers, gaming zones, fitness centers, coaching centers, vocational training institutes etc. on a website such as Franchiseindia.com.
PRO TIP: Be careful when investigating your options. Evaluate them on the basis of factors like the brand reputation, the franchisor’s experience, your own abilities, and skills for the business, store location, it’s potential, the demand in the market, the competitors, future prospects etc.
Related: Guide to Start Your Very Own Gadget
#2. Gadget Store
- Investment: 8 lakhs
- ROI period: 6 – 8 months
This is the internet age. There’s hardly any individual or any place without at least a couple of phones and laptops or a PC. Joining the gang are headphones, speakers, home theatre systems, gaming gadgets, VR systems, fitness trackers, cameras etc.
With the increasing demand of these electronic devices, a store with a good range of devices on retail and a well-informed sales staff can easily find its spot in the market as a customer coming to the shop will always appreciate good and helpful advice on their buy.
The store can also be taken to an e-commerce portal for enhanced convenience for consumers and profitability for the owner.
PRO TIP: A servicing and repair center can be started alongside or you can team up with a good service center nearby. Services like free home delivery, gifting options on request etc. will further add to customer loyalty.
- Investment: 2-5 lakhs
- ROI period: 6 months
Cleaning is a necessary chore, but not everyone is a fan of it. With the right kind of approach, this seemingly boring chore can be taken to the next level and turned into a profitable business idea. The idea might sound outlandish at first but some enterprises in India like Keentoclean and Broomberg have actually done it.
Yet there is a lot of potentials to be capitalized on. Start out with a few places; one could take up cleaning of homes, commercial complexes, water tanks etc. Develop a mechanized system for each process and train your personnel well. As there’s always a requirement of such labor especially in the urban houses and offices, so if you perform well, definitely more offers will pour in.
You can also pitch for places like hospitals, temples, and shrines, apartment complexes, hotels, museums and galleries, educational institutions, restaurants etc., which assigns work contracts to professional cleaners.
PRO TIP: While time is of the essence when working in each location, it’d be useful if “clean like it’s your own” rule is followed. Any damage or a messy work will only result in bad customer relations which will eventually affect the business.
Related: How to Start Cleaning Business
- Investment: 3-5 lakhs
- ROI period: 6-8 months
In India, be it any occasion, the food has to be amazing. An event with good food and wonderful service will always be remembered warmly but bad catering can ruin the grandest of events. In this business, one can start small industry with rented equipment and on-site cooking.
This will keep the investments low and with a few stints, you’ll have enough returns to slowly expand and settle.
Also, while a passion for cooking is important, it’s essential to have a proper plan in place to take this business forward.
The idea is to provide a great culinary experience while keeping your operational costs minimal.
PRO TIP: Train your employees well, especially when it comes to interacting with the guests and providing service. A bad review from a guest can really hamper potential opportunities.
Related: How to Start a Catering Business
#5. Delivery services
- Investment: 1-2 lakhs
- ROI period: 3 months
When thinking of delivery, usually it’s food delivery that comes to mind. But one can start this service by delivering absolutely anything to customers, be it food from a restaurant, products from the supermarket, flowers, and gifts from the store, picking up and delivering their dry-cleaning etc.
FedEx, a popular logistics service provider has already been offering dedicated express delivery services across India, which is on a larger scale though. Your investment will mostly go into organizing the delivery chain.
And since there’s no manufacturing of any kind from your side, you just need to tie up with the local stores and make sure to plan your delivery system well.Of course, some places may already have their own delivery systems in place.
However, if you have a wider delivery radius, then through you more customers can reach out to these places, which may have only a limited delivery range.
PRO TIP: Immediate wish fulfillment is difficult to ignore. Although you might charge slightly higher prices than other delivery services, pitch your business as one which can help immediately fulfill your customers’ needs. Make that your USP and maintain it.
#6. Travel-holiday Planner
- Investment: 3-5 lakhs
- ROI period: 6-8 months
People today are willing to spend more and more on traveling and the travel business is definitely booming. As a holiday planner, you’ll have to research, plan and book a travel according to your customer’s needs.
You can plan good standard tour plans but sometimes a travel plan needs to be custom made to fulfill needs of the customer. Thinking out of the box and some meticulous research can help you plan an amazing travel for your customer.
Initially, you can start at home, working via the phone and the internet and creating a tour plan for your customer.You can also take up planning trips for educational organizations and offices, as bulk booking will help in getting better deals and may also help increase profit margins
PRO TIP: There are niche slots even within the holiday planning industry, from holidays aimed solely for kids, weekend getaways, family holidays, for newly-weds, for students, for those seeking adventure and exploration, educational or cultural tours, religious excursions, for senior citizens etc. You can specialize in certain type of holidays and become successful in the same.
Also Check: 10 Best Must Have Apps For Travellers in 2018
#7. Online Store
- Investment: 1-3 lakhs
- ROI period: 6-8 months
Create your store physically and/or electronically and sell whatever you wish to! From lovely pieces of art, handmade gifts for various occasions, designer home decor objects, clothes, jewelry, to home-made cookies, chocolates, pickles, and sauces, you can sell it all.
All you need to do is open up your own website or enroll via an e-commerce portal and set up your store.
And you are ready to start selling anything you wish to (it has to be legal of course!). One can also take up requests and sell custom made items to their customers.
Handmade products are precious because they’re often one of a kind. Create and advertise your products in innovative ways.
PRO TIP: When sending out your products for deliveries, ensure that attention has been given to both the packaging and branding of your product. Also, another great way to grab attention on portals is to upload good hi-res photographs of the products with well-detailed descriptions. Use everything from word-of-mouth to the social media to spread your name.
#8. Spa Service
- Investment: 8-10 lakhs
- ROI period: 10-15 months
When people constantly battle with stress and exhaustion in their daily lives, places where they can experience mental and physical relaxation become immensely important. This is where spaces like spa and related natural therapy centers come in.
In India, the spa culture is on a rise. Common spa treatments include body treatments, facials, massages, aromatherapy, hair removal, hydrotherapy, manicures, and pedicures etc. Massages range from Ayurvedic to exotic massages done with herbal and aromatic oils.
Your investments will depend on the services you offer, the quality and price of products and equipment, personnel hired etc.
It is important that you have detailed plans in place for daily operations and each spa process.
Develop a brochure of services and products so that each service can be easily understood and selected by the customer.
Also, while investing in the services it is important to ensure that the spa has a good, peaceful environment and ambiance.
PRO TIP: Initially, you can attract customers by providing discounted package deals or a free sample of an oil or any other spa product. There are various spa models ranging from destination resorts to day spas and medi-spa( a medical spa); one can also establish their expertise in any specific type and capitalize on that.
Related: How to Start a Spa Business
- Investment: 2 lakhs
- ROI period: 3-4 months
From individual house-owners to managers of apartment or condo complexes and small retail and commercial outlets, all require maintenance and repair services for their property. Companies that provide these services generally charge an annual fee and the customer can contact them whenever required without any hassle.
One can start by providing various services such as that of electrician, plumber, cleaner, pest control, water purifier maintenance, carpenter, mobile repair, computer/laptop repair etc. The idea is that all these services are just a phone call away, that your business is the one-stop solution for all of your customer’s maintenance needs. You can start the business from your home with just a phone, a computer, and the internet. Necessary tools and a vehicle to make house-calls might need some investment.
Additionally, it’ll be necessary to have good organizational and logistic sense to schedule jobs from day to day, especially when you’re starting by yourself and have no one to assist you with such tasks. This skill will then come handy when you expand your work and organization.
PRO TIP: Along with a good skill, you’ll need people who can communicate well with the customers as the business will rely heavily on overall customer satisfaction.
#10. Dog Breeder
- Investment: 10 lakhs
- ROI period: 12-15 months
This is the Best business for those who love the little canines and want to make some amazing profits at the same time. A good dog breeder with quality breeds can earn quite a neat amount of profit in this business.
Once you get some good breeds of dogs, you can then start breeding them further and then sell their pups through advertisements, via online portals and word of mouth to make a handsome profit for years to come.
You can also participate with your pawed babies in dog shows and similar contests to catch the eye of potential customers. Rs. 10 lakh investment is a sufficient amount to get few good breeds and start the process.
The investment will also go into infrastructures like access to a large farmhouse where you can house these dogs comfortably, their nourishment and upkeep of general health and hygiene.
PRO TIP: You can slowly expand your business by entering into the pet-care industry and starting salons, day crèches and vacation boarding for pets.
#11. Fitness Center
- Investment: 6-10 lakhs
- ROI period: 8-12 months
It has become a need of the hour to keep people fit and in good health, along with having a great physique. People are willing to spend a good amount of money too for this much-wanted fitness. Starting a fitness centre has thus become a profitable business with high assured returns.
A fitness center requires weightlifting and cardio equipment with good trainers and managers to oversee daily functioning. One should do a proper research about the target population, local competition, market demand, and supply etc.
It is also important to promote your business, be it through printed flyers, advertisements or via the online route. You can put in attractive offers and services like diet consultations to bring in more people and increase your enrolment numbers.
Related Video: Setting up a gym without money
PRO TIP: Other forms of workouts like aerobics, Zumba, martial arts as well as classes for power yoga, pregnancy exercises are also being offered to customers keeping in mind their various needs. Running social media page and YouTube channel to attract more clients can work wonders.
- Investment: Rs 3-6 lakhs
- ROI period: 6-8 months
These are the activities nearly every child and adult enjoys. If you are a skilled musician or dancer, opening a dance or music academy can be agood shot for you. With a minimal investment, you can buy or rent a space and create a small studio for people to come and learn these arts.
Of course, you can also hire some trained faculty if you are not a pro but still wish to go ahead with the idea. Have classes for classical and western as well as modern forms of dance, vocals, and music.
You’ll need good managerial skills to run the place and schedule different classes for different target age groups.
Have evening or weekend classes for those who are busy with work on weekdays. Promote your business at schools, community centers, online and through word of mouth via your students.
PRO TIP: A cultural evening can be organized to showcase to the local community what the members have learned and to promote your own business. Launch new classes and batches, especially during vacations, as part of summer camp and similar initiatives to get more enrollments.
- Investment: 2-4 lakhs
- ROI period: 5-8 months
You can start your own home garden in your backyard where you can grow different flowering plants, shrubs, and herbs. Slowly, you can expand to cultivating exotic plants like flowering cacti, bamboo, bonsai etc. which can be sold not just as plants but also indoor decor items for both home and commercial spaces. Some inspiration for the same can be drawn from Exotic Flora.
You can also grow vegetables and fruits organically, which will fetch a higher price as people will find the idea of eating organic and freshly harvested vegetables quite attractive.
Your investment will go into setting up your gardening space and the seeds and equipment required for the same.
Related Video: Earn Huge with Medicinal Plant Business with Less Investment
PRO TIP: Alongside working locally in your area, open an online store. This will not only bring more customers beyond your region but also spread the word of your business. You can also take custom orders for certain exotic plants and additionally, work as a consultant to help others create their own unique garden.
#14. Online Advertisements
- Investment: 2-4 lakhs
- ROI period: 10-12 months
The internet is a booming market in India. The online advertising market brings in revenue of Rs.600 crores, which is only about 3% to 4% of the total advertising market. The business of online advertisement brings together those with advertising space on the web and those who need this space.
This business requires you to have a good understanding of the concepts of online advertising, the internet and have sharp analytical and networking skills. While these skills can be developed, few courses are also available in various marketing institutes that can help you prepare for this.
Also, as a business which can also be done from home, it’s an excellent freelancing option for those who’d prefer to work from home.
PRO TIP: It’d be good to make a directory of all the potential websites by categories and target viewers and then access owners of these sites to get the right kind of ad space for your client depending upon their needs and target group. This will also help maximize the ad’s reach and impact on the target.
#15. Water Purification Unit
- Investment: 4-6 lakhs
- ROI period: 7 months
The aim of this business is to ensure that clean, potable water is available to all. A business like this is actually of immense importance and quite profitable.
While there are people who still make do with boiling water or otherwise install RO filters to obtain drinkable water, many still do not have access to hygienic drinkable water.
In this business, you have to invest in setting up a water purification unit and packaging and delivery of the product.
Purified water is packaged into huge sealed bottles of minimum 20l and distributed to homes, offices, organizations like hospitals, museums, schools, convention centres etc.
PRO TIP: You can get certification for your business to ensure the water purity and attract more clients. Also, there are four verticals to the distribution: residential, commercial, industrial or government set ups. You can start with one and slowly expand to others.
Of course, as with setting up of all businesses, one needs to do a fair amount of research and study the market and the target groups before developing a sound business plan.
Relevant managerial and administration systems will then need to be set up in place according to the business plan to ensure the smooth running of the same.
All the legal documents and papers for setting up a business should also be looked into and filed properly with the respective authorities. And while a capital of Rs 10 lakh is not a vast amount, one needs to be careful in investing their money into an idea.
There’s a wide range of ideas just waiting for the right person to put their efforts to turn them into the best business in under Rs. 10 lakhs. And surely, there are much more other brilliant ideas out there.
So, what are you waiting for?
Go, brainstorm on your business idea, you could be the next big emerging star in this new age of entrepreneurship.