When one contemplates setting up a new business from scratch, it is easy to get overwhelmed. Wondering how to get the venture off the ground with a minimum capital investment is the question that bogs down many potential entrepreneurs. Let’s dive into the low-investment, high-profit local business ideas you may consider.
Come rain or shine; people are always eating out. The hunt for pocket-friendly food is always a selling point for people. The unique business idea of a food truck is great and has taken off in recent times.
On average, setting up a food truck can cost anywhere between Rs.10-20 lakhs. This is a fraction of your cost if you were looking to open a full-fledged restaurant.
The ideal location for your local food truck business would be close to colleges, commercial areas, or offices, depending on your target demographic.
you can also check this Top 5 Small Scale Business Ideas You Can Start Immediately
Online/Offline Cookery Classes:
If you are a talented cook but do not wish to indulge in setting up a cafe or restaurant, having cookery classes is an ideal local business idea. Sharing your recipes means people out there get to try out newer recipes, and you get to monetize your culinary skills by making it into a local business. A definite win-win situation for both.
The setup cost would be limited to the utensils and ingredients you require for the dishes you wish to make. With a unique business idea such as a cookery class, your clients will come to you or you can reach out to them with the aid of the internet. Taking your sessions online will also guarantee a larger audience and enhance the revenue-generating capacity.
Having a green thumb means you could leverage your skills and be a florist. Being a florist is a perfect local business idea as you get to spend time doing what you love, and it won’t feel like work.
Any location where commercial activities are carried out, like the commercial hub of any city or shopping mall, is an excellent location for a florist to use for their business venture.
The average setup cost for a florist business would be in the range of Rs. 10 lakhs.
A laundromat is another excellent local business idea in our small business idea list that is a boon for single people / small families where both spouses work. To avoid the drudgery of yet another chore after they get home, utilizing the services of a laundromat would hold a natural appeal for them.
Laundromats experience the greatest success in the vicinity of residential areas where families and single people live, thus guaranteeing that operating a laundromat is a lucrative proposition. On average, you would incur a capital expense of Rs.5 to 7 lakhs.
This small business idea list is an excellent proof to convey that even though your options might seem limited when you have a small budget, there are plenty of unique business ideas that can be set up without breaking the bank and generate a lot of revenue if set up in the right place.