Everything you see in this world or every business no matter how big it is now was once just an idea in someone’s mind until that someone came along and turned it into reality. The most innovative businesses like Apple, microsoft, Google, Facebook etc were all born out of ideas and experiments.
You might be looking for a profitable business but that’s not how it works. A profitable business is not about just sitting back, planning and chasing money, it about jumping in the middle of things, getting your hands dirty and overcoming whatever challenge comes in the way. I mean No business is profitable until you are passionate about it. That’s why Paul J. Meyer once said –
“Whatever you vividly imagine, ardently desire, sincerely believe, and enthusiastically act upon… must inevitably come to pass! “
Here are 37 Most Profitable and Realistic Business Ideas with low to high investment requirements for everyone who wants to take a financial risk for making profit-
1. EV Charging Station
We don’t see many electric vehicles on the streets in India but EV Charging stations are going to be crucial in future as electric mobility is getting its pace. Electric vehicles are already selling like hotcakes in the Countries like Norway, Netherland, UK, USA and Germany. Setting up a charging station in India now does not even need a separate license under the electricity act of 2003 and charging batteries of vehicles is categorized under a service . Finding the right place for setting up EV charging station is very important. There are going to be around 6 to 7 Million hybrid and electric vehicles in India by 2020.
There is something for everyone on internet. Whatever skill do you posses, you can write about it on your blog and get paid for it. No matter what you write about like marketing, farming, internet, home improvement, selling/buying or anything you can think of, if people find it valuable/helpful, you will definitely make money out of it.
5 basic steps you need to follow to start your own blog and make profit are – Setup Your Blog, Start Writing Useful Articles, Promote Your Content, Engage with Your Readers and Turn Traffic Into Money.
Most people do 2 things to make money out of a blog – Advertising and Affiliate marketing. Means you make money when people see/clicks ads on your blog or buy something from your affiliate links. It’s hard to give a certain number how much money you would make but it will always depend upon how many visitors visit your blog and how well do you use your visitors/monetize your blog.
3. Buying/Selling Digital Properties
By digital properties, I mean websites/apps and domain names. Auction Websites like Flippa.com allows to buy/sell websites and domain names.You can select a website according to your interest, add some new contents, get a new design, promote a bit, find a buyer and sell it at higher price. It’s like buying old stuff at cheap price, repair them and sell them at higher price.
4. Tuition Center
Some things never go out of fashion like Education, Food etc. Indian parents are obsessed with private coaching for their children. You will need to get top class faculty and pay them well initially.
Location plays great role in the success of a coaching center. A center surrounding by schools, colleges and other coaching centers is more likely to flourish. You can’t set up your business too far from the hotspot at least until you are popular.
5. Play School/ Pre-School Franchise
Kindergarten/Preschool/Playschool is an educational center where children(age group – 2 to 5) learn a lot of things while playing before they can go to primary schools. This is considered one of the best business for women in education sector because women are great while dealing with childrens. The Good thing is that you don’t need to worry about reputation, marketing and other such aspects of school that a new business takes years to build. EuroKids International Pvt. Ltd. , WONDER KIDZ “THE CONCEPT SCHOOL” , WOW KIDS PRESCHOOL are some of the examples of Pre-school Franchise in India.
A Pre-School Franchise typically costs Rs. 2 Lakhs to Rs. 20 Lakhs(covers setup cost, brand fee and training fee) and requires 150 Sq. Feet to 3000 Sq. Feet area with no objection certificate from society. Play school franchise typically support staff training, branding, IT Support, Marketing, Promotional materials etc and you can expect 50% to 70% profit margin.
6. Real Estate Flipping
Buying a property(in bad shape) at low price, fixing it(repairs and renovations) and selling it at high price is another profitable business. Few types of renovations such as changing floor plans, adding bathroom or bedrooms etc that make a house more functional can increase the demand and price of the house greatly. Another way to enter in Real Estate business is simply buying lands at a location which is going to be famous spot in future. In my opinion land is something that does not depreciate in value in long run.
7. E-Waste Recycling
E-waste or Electronic waste is discarded electronics items (such as phones, TV, batteries, Computers etc) which has always been a big concern for the governments. World is going to be full of electronics stuff in future, so E waste recycling can be a lucrative business idea. Electric Vehicles are probably not as eco-friendly as you might think. With the rise of electric cars, there will be more batteries need to be disposed. So Battery disposal service can be another good business idea in future.
8. Medical Store/ Retail Pharmacy
One of the easiest business to enter in healthcare industry. Medical stores earns huge money. This it what One of my relative working in the industry says. You deal with medicines so of-course you need to fulfill special requirement to start a medical shop. There are certain rules and regulations a medical store must abide by. Like in India, the owner or one of the employee must have a degree in B Pharma/ M Pharma and sale of drug should be made in presence of pharmacist. Try to get a location either in vicinity of hospitals or where there are no competitors. Network with doctors/hospitals to increase customer base.
9. Integrated Organic Farming
There are some farmers across India who are making more than Rs. 5 lakhs per hectare every year by adopting integrated organic farming. Integrated Organic Farming is doing Livestock, fish farming and Regular Farming together. All the 3 actually support each other. It’s something like waste of one industry can be raw material for other. All activities like Dairy, biogas, composting, water harvesting are done together and are linked to each other in some way.
For an example – Cow manure is used for biogas production, gas produced is used in kitchen as well as to run various machines like fodder-cutting machine, waste from plant is used for composting. It becomes a cycle and nothing goes waste. You can add mushroom/ginger/capsicum farming and beekeeping for more profit.
10. Medical Laboratory
Starting Medical/Pathological lab is another lucrative business idea in healthcare industry. There are already big brands like Dr Lal PathLabs, Apollo Diagnostics, Metropolis Healthcare Ltd etc which are offering franchise to willing and qualified persons. Initial investment for most Pathological franchises varies from 2 Lakhs to 10 Lakhs Rupees and you can recover the capital cost in 1 to 3 years with usual ROI 25% to 100%.
There are hospitals too that offer vacant space for lab inside the hospital. You will have to buy your own machinery and equipments. The hospital owner/doctor usually keeps 40 to 60 percent of total income of the lab.
11. Motorcycle Repairing Shop
3 Brothers run a motorcycle repairing shop in my area and they make around 5k to 10K Rupees everyday. How do they do it? Well their shop is oldest and most reputed shop in the region. They are hardworking and expert people. And most importantly, motorcycles are now household things so they never run out of customers. Profit Margin in 2-wheeler spare parts is good.
12. Juice Bar
I recently bought sweet limes from two different places. Price difference was amazingly high. At a regular shop price was 50 per KG while at mandi it was 22 Per kG(although I bought 20kg in one go). I think it can be even more cheaper in bulk for regular buyers. Juice corners according to my calculations make at least 20% to 40% profit on every glass of juice after all the expenses like electricity, rent of shop, salary of employees etc. Opening a juice bar is undoubtedly a profitable and lucrative business idea.
A moderately busy Hair salon with 2 seats can make around INR 20k to 30k per month in moderately populated area in India. Several factors like location of shop, quality of service, population of the area etc will affect the profit. But the good thing in this business is that you never run out of customers. Initial investment is low. INR 50 to INR 100000 will be sufficient to start a shop depending upon several factors. While selecting a shop for rent, go for road facing shop having residential area nearby.
14. Paying Guest
Students and working professionals are increasing day by day and they need space to live. Converting a house into Paying Guest Accomodation or renting vacant rooms out can be a great way to make monthly rental income. PG located at a walking distance from colleges, hospitals and university is more likely to be occupied all the time and has high earning potential.
In India, If you convert your house into PG, it no longer remains a domestic space and will be considered as a commercial property. So all the bills such as electricity are paid at commercial rates. In the same way, Every country or city might have different rules. So make sure you don’t ignore legal stuff before starting a PG business.
15. Online Tutoring
There are numerous online tutoring websites where you can register and get paid for teaching online from home. Help students doing their homework, completing their projects and solving their doubts and you can typically make $10 to $50 per hour depending upon various factors. Good English and great command on your subject is mandatory.
Want to make Tea? Search on youtube and you will find hundreds of recipe/tutorials. Why would someone upload such recipe on youtube? Reason is simple. We see advertisements in between during watching the video and this makes them some money. You can do the same to make money. In most cases, making videos does not cost anything. Make some tutorials or videos of whatever talent you have and upload them on youtube.
Once your channel has 1000+ subscribers and 4000 watch hours in last 12 months, apply for monetization. Adsense will definitely approve your application if your channel has unique and useful content. That’s it. Once monetization is on, ads will be start appearing to viewers and accumulated money will to sent to your bank account on 21th to 26th day of every month if total earning at the end of last month crossed $100 mark. To get an idea of earning, 1000 views from asian countries will bring around $1 to you.
17. Spirulina Farming
Conventional farming can not feed the world. Here is the Good news for those who want to do something new even if they have very short area of land. According to what I have seen, 1 acre of land can earn you around 2 lakh every month. The world’s first superfood Spirulina is one of the most nutrient(loaded with Protein and antioxidants) food on planet. It’s in demand because of its medicinal values and this is why you can sell it at good rates.
Spirulina cultivation can be done in ponds, basins, tanks, pools filled with alkaline water outdoor or indoor under certain climatic condition. Ideal Temperature is 25 to 38 degree. Sunlight is mandatory. Certain minerals are added into water to generate optimal conditions ensuring growth of spirulina. Spirulina becomes ready for harvesting in 14 to 21 days. Racks can be used to filter/dry it. Spirulina powder is sent to lab for testing and 1 KG powder of it is sold for 1000 Rupees in market.
It’s new, investment is low, demand is high so it’s profitable business anyone can do. There are certain places you can go for training. 1 Week training will be sufficient to start things your own.
18. Content Writing Business
Content writing is filled with money, you just need to tap in right way. The web can not run without content. Content has always been the king for bloggers. There are people/organisations looking for great writers. You can make a team of writers or start writing your own for different websites. A websites about your services will be very helpful to promote and sell your writing skills. Fix prices and stick to it. Market yourself and grow your network. You can also find your client on freelancing websites like freelancers.com, guru.com and fiverr etc.
19. Develop a Mobile App
If you have a great idea in your mind that you think people would love , you can create an app around it. You will require little or no money if you are skilled enough to create it your own otherwise get your app developed by some app developer. You can Explain your ideas to your friends/family members, they might support you financially if they love your idea. Once you have your own app on playstore, there are various ways you can monetize it and make money even while you are sleeping.
20. Web Development
It’s becoming hard to survive for any business without online presence now. Every business needs a website. The reason is very obvious. A website increases the sales by converting its visitors into customers. You can help businesses by start developing websites for them. You can make your own web development company or start working as a freelancer web developer on freelancing websites like guru.com or freelancers.com. Keep improving your coding skills and stay in touch with latest trends in web development world.
21. Slipper Making Business
Slippers are household things always in demand. Let me explain how slipper making business is profitable. You basically need 3 machines –
- Sole Cutting Machine to cut rubber sheets in different shapes and sizes,
- Sole Printing machine to print company name, size on slippers and
- Grinding/Finishing machine to make edges and rough area of slipper smooth.
Cost of all the machines required in slipper making business should be around INR 150000. Major 2 raw materials are rubber sheet(INR 300 to INR 600 Per sheet) and strip(INR 5 per strip). Manufacturing process is simple. Cut the sheet in desired size with sole cutting machine, print the sole, fix the strap and finish the rough part. With these machinery and raw material, one can make around 500 Pair or slippers in a typical day with a manufacturing cost of 20-40 Rupees per pair. You can sell them in bulk at the rate of 40-60 Per Pair making 20-30 Rupees profit. In this way a small setup can earn you INR 20000-30000 Per month.
22. Tiffin Service
Serving Home-cooked meal is a recession proof business. If you love cooking food and are living in an area surrounded by lot of students and working people away from home then You can go into tiffin service business. To try it out, you can start serving small no. of plates at first nearby. Giving personal touch to food always works. You can expand business later on once you know you are made for it. If you deliver quality food, You will get free support of word of mouth advertising. You can register your business on website like foodpanda which will help you get more orders.
23. Franchise/Chain Store
A popular brand store you have seen nearby was most probably a franchise. Franchise is a marketing concept companies use to expand their business by giving licence to the people like us to open their store in different areas and sell their products/services for commision. Some of popular chain stores we see in market are Nike, Adidas, Dominos, Reebok, Amul etc. There are thousands of such stores offering franchise opportunities. This way you can use big brand name or their reputation to make profit.
Different brands have different requirements before they let anybody start their chain store. For an example, If you want to start LIBERTY shoes store, you will need an area of 1000 Sq. Feet, 20-30 Lakh Rupees investment and 1 Lakh Franchise/Brand Fee. Once you are approved, they offer support such as training, marketing assistance, field assistance etc.
Visit websites like franchiseindia.com to find opportunities and requirements to start a brand store. Always select a brand that you really love and can promote passionately with your heart and soul.
24. Selling Online
You can sell homemade crafts or other stuff online. Some people buy products in bulk from Alibaba at cheap prices and sell it on other commercial websites like Amazon, Flipkart etc at higher price. I live in Haryana but I can sell a product to someone living in Kerala(2800 KM away) without going out of the home. That’s the power of online selling. You can increase your sales and expand your business by starting selling your service or product online. Becoming a seller on E-commercial websites involves online registration, Product Listing and Pricing etc.
25. Stock Market/ Mutual Funds
An investment of 10000 Rupees in Wipro in 1980 has grown to approx. 450 Crores now. Yes you heard it right. It’s Crores, not thousands. There are numerous such examples. Before you get your feet wet in the world of Stock Market, you need to understand potential risks involved. Invest wisely. Pick stocks of good companies. Be patient and hold stocks for longer period. Read books and advices from great investors. Do a lot of researches before buying stocks. Understand terminology. You will need a bank account, Demat account and trading account before you can start investing in India.
To be on the safer side, you can systematically invest in mutual funds. Mutual funds allow you to invest a small amount from your income every month. This way you can save money for retirement and other big causes over a longer period. Let’s get an idea of return in Mutual Funds. If you invest 3000 every month in mutual funds, your investment will generate a return of 98,52,221(near 1 Crore) after 25 years if rate of return remains 15%.
26. Selling Photos Online
In the world of internet, there are always more ways of making profit than one can think of. Have you ever thought that photos you capture in daily life can be sold online? Well there are various websites that allow you to upload your photos and if someone likes your photos he can buy them for money. Usually your work will be used in magazines or websites. Shutterstock, Fotolia, istockphoto and Dreamstime are some popular websites that pay you to sell photographs.
These websites works on a simple principle. They connect photographers and clients and if a deal happens, photographers gets money, client get creative work and website gets its commision. All you need is a great camera and photography skills to start the this business of selling photos online.
27. Wedding Planning
The wedding industry in India is large. It’s over $50 Billion, the second largest in the world and increasing at a rate of 25%-30% annually. Spending money in weddings is considered as a matter of pride in India. So wedding planning can be a flourishing business in such conditions. What wedding planners actually do?
A wedding planner designs a wedding keeping needs and budget of his client in mind. They take care of both venue and menu for a wedding and give a special touch to all the ceremonies and customs. Wedding planning involves Designing invitation card, finding best florist, caterer, DJs and managing every other little thing from beginning to end in multi day affair wedding. So someone who love meeting people, understand colors, fashion and customs in different religions and regions, have great communication skills, is multi tasking and quick decision maker can be a good wedding planner.
To start wedding planning business, you will need an office, a team and Rs. 2-3 lakhs in Hand because most of the clients will pay you after wedding. You will always need to stay in contacts with caterers, tent and lightning house, banquet hall, hotels, Confectioners , jewellers, makeup professionals, florists etc. You can start with small wedding to gain experience.
28. Packers and Movers
Packing and moving is another flourishing service-based business opportunity which doesn’t require a very large investment. It involves disassembling, packing, loading, transportation, unloading, unpacking and rearranging of household goods usually. To start packing and moving business, you will first need to make a company and get it registered. Set up an office. Advertise your business on websites like Justdial. If you own a vehicle then it’s good otherwise tie up with transporters.
29. Micro-Tasking Platforms
There are micro jobs websites that connect employers and employees/freelancers. The Employers create small tasks and freelancers complete those tasks to get paid. Doing small tasks like signing up for a website, liking facebook/twitter/instagram page , subscribing youtube channels etc can earn you regular income. Some of popular micro jobs websites are Microworkers, Mturk, Clickworkers, Picoworkers, Fiverr, Figure Eight and Onespace.
Let’s see it from business perspective. You can help people get their work done. Like if a client is looking for 1000 subscribers on his youtube channel, you can help him finding subscribers. You create a task on one of microtask website and send subscribers on your client’s channel. Charge your client little higher than what you have spent on getting this job done on micro job website. That’s your profit. You can create your own website to showcase your skills, find your clients and help them getting various things done. Great thing is that you can do all of this from your home.
30. Online Survey Taking
This won’t make you millionaire but have potential to generate consistently good income. There are various online survey websites you can join. They conduct surveys you can complete from home and make money. Just make sure you join 5 to 10 survey sites so that you never run out of new surveys. Some of the popular survey websites are Toluna, GlobalTestMarket, Ipanelonline, Cashcrate, Yougov, ThePanelStation etc.
31. Polyclinic/Private Medical Practice
Polyclinic are small versatile clinics offering various general medical, diagnostic and treatment services. Other than your educational Degree and registration number, you need some legal and statutory requirements such as no objection certificate from society, permission letter or trade licence from local municipal authority and enrollment with biomedical waste authority etc.. Your local medical association can assist you regarding these requirements. Medical equipments are costly and you will need moderate to heavy investment. One of my relative have partnership in a private hospital. He is not actually a doctor and he only takes care of administration and operational area. I mean This is a way you can enter in healthcare industry without being a doctor.
32. Laundry Service
Laundry business is yet to be organised and has huge potential for entrepreneur. Laundry is completely an urban matter where are people are in jobs and don’t have time to wash and iron clothes. You can try it at small scale at first if it’s working for you. Buy required washing materials at bulk and don’t spend money on rent. Rather do all the washing at your home. Keep pickup and delivery free. A responsible, quality, eco friendly and punctual laundry service business is more likely to be successful.
33. Tea/Coffee Stall
If you can manage to get a tea/coffee stall in area surrounded by a lot of offices, it can be a hugely profitable business. Make sure you don’t compromise with the quality of tea. A rainy city with Cool weather and a lot of tourists can be perfect place for tea/coffee shop. According to what I have seen, a tea stall owner who never run out of customers does not earn any less than a govt employee. Initial investment is low in coffee/tea shop.
34. Arbitrage Business Ideas
Arbitrage is buying something at a certain price and selling it at higher price in different market at same time. For an example – renting a room at 1000 Rupees per month and renting it out to someone else at 2000 Rupees per month. Profit in this example is 1000 Rupees. This was just a rental arbitrage idea. You are open to think about arbitrage ideas in any of the industries.
35. Bridal Store
People all around the world spends a lot of money on weddings. A bridal store is a shop that sells bridal wear or wedding dresses such as Lehengas, Gowns, tuxedo etc. Opening a Bridal Store is highly profitable business, especially in North India. You can even charge 30%-50% more on a bridal Lehenga than its manufacturing cost and if you offer it on rent, it will recover its manufacturing costs in 3 times. Rather than selling all kind of bridal stuff, Try to be specialised in very few kinds of products. You can hire expert master tailors and other staff.
36. Vegetables and Fruit Stores
A study was conducted across different cities in India and it has been found that vegetables shopkeepers are selling vegetables at more than 48.8% of wholesale price. Most profitables vegetables are cabbage, brinjal, chilli, tomato, garlic and cauliflower. Same is the story of fruits. You just have to make a large customer base to turn this opportunity profitable. Good behaviour, negotiation skills, discounts for regular customers and quality of fruits/vegetables and service will help you driving more customers to your store. Store vegetables/fruits as less as you can and always sell fresh.
37. Affiliate Marketing
This is perhaps one of the most profitable and rewarding activity you can do online. You recommend products and service to people, and when they buy, you make commision as profit. Lets see how it works.
You create affiliate account on amazon and generate an affiliate URL for a product worth 1000 Rupees and post the link on your facebook page with 10000 followers. Suppose the commision on the product is 2%. If 50 followers out of 10000 buy the product, your total commision will be 1000 Rupees for doing almost nothing. Now you can imagine the potential of affiliate marketing. Only investment in this business is time you spend on making your web property popular. You can do affiliate marketing even without owning a website or blog. A popular facebook/twitter/instagram page with lot of followers or a youtube channel with a lot of subscriber will be sufficient to generate passive income for you.
A profitable business idea for one might be the worst idea for other. Have you ever started a business? Share your experience via comment. You can also suggest new business ideas to add in this list. Share the post if you found it useful.