At present, numerous young professionals are looking to earn quick money with minimal investment. And with India’s growing economy, there are a lot of possibilities where one can venture into. The ‘Startup India, Standup India’ program announced by Prime Minister Narendra Modi on Independence Day has been successfully inaugurated in Mumbai’s Thane district. Besides, the Union Finance Minister Arun Jaitley has assured the startups that both the government and the banking system would be making available resources. As someone who intends to enter the world of business, you can soon find a special tax regime that would enable you to foster innovation to an optimum.
Here is a list of business ideas that novice entrepreneurs, having minimal finance options, can earn maximum profit in a minimal return period.
Starting with Rs. 1,000
A great business idea to start with nearly Rs. 1,000 is ultra-short temping services. As a part of this business, the companies provide workforce services temporarily to event management firms. The break-even period for this business is close to 10 months, and a gross profit of approximately 20 percent can be expected. An important skill needed to make this business a success is networking. Organizing private tuitions is yet another excellent business idea to earn a handsome income with Rs. 1000. You can plan to be a private tutor by grabbing adequate knowledge about a particular subject. All you need to do is occasional investments associated with the purchase of new books if there is a change of syllabus.
Business Idea for an Investment of Rs. 7,000
A good business idea with a budget as minimal as Rs. 7,000 is a shoe-wash company. Earlier, canvas shoes were cleaned using old toothbrushes and detergent; however, nowadays, people have moved on to trendy sneakers and want the shoes to be cleaned by experts in the field so that they can be maintained properly.
To be successful in this business, it is essential to know how to use chemicals, and a fair degree of marketing skills is also required. The break-even period for this form of business is at least three months. The businessmen can expect a gross profit of nearly 40 percent in this case.
Business Idea for an Investment of Rs. 15,000
Having a food delivery service is a great business idea if a person has around Rs. 15,000 with them. Nowadays, customers want the best food on their tables without making an effort to go and get it, and this is where a food delivery company can come in handy.
The main skills needed to run this business smoothly are sales and management. This business has a break-even period of two months at the very minimum and can provide gross profits of nearly 20 percent.
Business Ideas with INR 20,000
If a person wants to start a business with Rs. 20,000, they can start making uniforms. Nowadays, even business schools and medical and law colleges make it mandatory for their students to wear uniforms. Interested business people can establish contacts with uniform manufacturing companies and provide dresses at reasonable prices. The most important skill in this business is man management, and it takes almost a year to break even.
Business Ideas for an Investment of Rs. 50,000
Property management can be a great business idea if you have a start-up capital of approximately Rs. 50,000. The businessmen need to find a proper workplace and take responsibility for their detailed documentation procedures, thus saving a lot of their time. Adequate sales and marketing skills are needed to be successful in this business. The company can achieve break-even status within a month and expect a gross profit of around 50 percent. Yet another profitable business venture in this range is phone-based business consulting services. These days, several entrepreneurs are looking to make a name for themselves. The time is right for experienced business people to make the most of their skills and knowledge and guide these young enthusiasts with some good business plans. Networking is a critical skill needed to flourish in this business that can take almost four months to come on break-even terms.
Wedding planning is also a good business idea when you have got Rs. 50,000 to start with. Today, wedding ceremonies in India are being organized and celebrated on grand scales. The celebrators might not have the time to properly attend to every little nuance as a lot of time is required in this as well. Wedding planners can help people in such situations. Creativity is the name of the game in this business domain that can provide almost 15 percent gross profits. However, achieving break-even status will depend on the quality of projects that the company gets.
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Concierge services such as babysitting and medical treatment can be started with an initial capital of Rs. 50,000 or more. Network communication capabilities are the most critical skills required to do well in this business that can take at least half a year to achieve parity and give approximate gross profits of 10 percent.
Housekeeping services for hotels is a proper business idea if an entrepreneur has Rs. 50,000 to start with. With the hotels looking to keep their rooms sparkling clean, this is a good business idea. Good communication and man-management skills are necessary to succeed in this domain. This business can provide gross profits of almost 20 percent.
Business Idea for an Investment of Rs. 75,000
Pre-recruitment assessment is a profitable business venture if the entrepreneur has a starting capital of around Rs. 75,000. This service can help let companies hire the best possible employees. The companies in this domain can chip in by creating the tests at different levels and then evaluating the candidates based on their performance. Good marketing and sales capabilities are necessary for good performance in this domain. The minimum breakthrough period for this business is two months, and it can provide gross profits of nearly 25 percent.
Business Idea for an Investment of Rs. 1,00,000
Entrepreneurs looking to offer custom-made chocolates for their customers can get started with almost Rs. 1,00,000. Making chocolates as per food quality standards is a prerequisite. It is important to love chocolates and be creative to thrive in this business. Expected gross profit in this segment can vary between 30 and 35 percent, and the minimum period required to achieve parity is a week.
Business Idea for an Investment of Rs. 2,00,000
If an entrepreneur knows intercity and interstate bus routes really well and has almost Rs. 2,00,000 to invest straight away, then a bus service website can be regarded as a good business opportunity. The website can also provide information about the ticket rates and the channels for booking them.
However, it is essential to have good IT skills to be successful in this business. The minimum period needed to achieve break-even in this business is five months, and the expected gross profit is close to 10 percent.
Business Ideas for an Investment of Rs. 3,00,000
A good business idea with a start-up capital of Rs. 3,00,000 is that of custom-made festival gifts. The entrepreneurs can choose innovative gifts, wrap them in an eye-catching manner and then send them to their clients. The entrepreneurs need to be sensitive, creative, and understanding and have a good knowledge of gift-makers in the town. It can take at least three months to achieve parity in this business, which can be expected to provide almost 20 percent gross profits.
Entrepreneurs with such start-up capital can also go for the online ads service business. They can have contacts with the website owners and then get the appropriate space to help the clients get access to their target audience.
The owners should have good knowledge of networking and media planning to be successful in this business. The minimum time required to come to break-even status in this business is a year, and the anticipated gross profit is 20 percent.