It’s 2021 and not everyone is loaded enough to sustain the challenges, thus, small business ideas that are profitable are largely sought out today. The Covid-crisis has pushed mankind to do the best in order to have sustainable growth. When jobs are limited, resources are tight but opportunities are infinite, small business ideas that are profitable, are indeed a great resort.
So, what is a profitable business idea?
If you are googling topics on “how to become an entrepreneur,” you most certainly have a business idea at hand. However, you may not have enough funds at present to invest in your capital. Well, small or large, profitable business ideas always float the boat. But, in order to succeed, your business idea should be and stay in demand for the long run.
If you’re not up for something massive yet, you can always start small. In fact, small business ideas are more sustainable than the massive plans that don’t see the light of the day. Often, lack of funds and insufficient manpower leads to the downfall of large businesses that aren’t planned through. So let’s jump right into the list of small business ideas that are profitable and can sustain the odds.
Top 10 small business ideas that are profitable
You may already have a bunch of ideas in your mind that are lucrative.
However, here’s a list of top 10 small business ideas that are well-researched to be sustainable as well as profitable.
- Home-made Food Items
- A Digital Fashion Boutique
- Organic Goods
- Handcrafted Products
- Sell Your Skills
- Digital Marketing Agency
- Cleaning Services
- Customized Gift Shop
Home-made Food Items
Remember craving for pickles in summer afternoons? Imagine if there was a way to order your favorite pickles online! Pickles, papads, and similar food items have always been available in Indian markets. There is a significantly high demand for such items in semi-urban places. However, with the perks of social media and digital marketing, it’s no big deal to create long-lasting demand for such items.
As one of the small business ideas from home, this may require an investment of less than ₹30,000 to make profits. And if you have your grandma’s great recipe, you certainly can go big with this small business idea.
Oftentimes, people confuse confections with baked goods. Confectioneries basically make chocolates, fudges, and candies whereas bakeries make baked goods like cakes and donuts. You can start a confectionery from the comfort of your home and sell confections online. Bakeries, however, need a tad finer investment to make profits.
By investing a bare minimum of ₹40,000, you can get your confectionery going. Nevertheless, if you want the right equipment for massive production, your capital only needs to be adjusted to a lakh or two. This is indeed an amazing small business idea that can never go out of fashion.
A Digital Fashion Boutique
With globalization and aroused consciousness regarding fashion, India’s online fashion trade is surging to billions of dollars. If you have a penchant for fashion, you can surely play around with this small business idea. You can curate your own store by selling items from different vendors or you may even design your own goods. Either way, this business idea is one to thrive for several decades.
You can start with a basic investment of ₹1,00,000 – ₹2,00,000 if you want to make a sound name. However, you can also begin dropshipping with as low as a few thousand rupees. This brings us to the next small business idea: dropshipping.
One of the most cost-effective small business ideas that are profitable as well, is dropshipping. This profitable small business idea doesn’t demand a penny for inventory. You can make profits by focusing strictly on the marketing aspects. To be precise, dropshipping is basically selling items from other vendors and making money. You can simply place orders on behalf of your clients and earn money while the vendor ships the ordered products.
Scaling up your marketing game and building a strong clientele may even help you start this business with zero investments.
And yet again, the wave of globalization has sprouted opportunities for traditional and organic goods to capture the markets. Organic soaps, traditional bathing additives, natural essences for skin, etc. have quite a good chance to make profits. Again, it’s entirely based on how well you can market your products. You may even take a chance with organic fragrances and similar ideas.
This new business idea can be started with an investment of ₹1.5 lakhs to 2 lakhs. Of course, you can regulate the capital investment as per your requirements.
Certainly not new but handcrafted products are indeed the best small business idea that can draw profits. All you need for this business to thrive is a creative spirit and some stationery items. Handmade birthday cards, love letters, paper bags, and whatnot; there’s a different world you can discover with your creativity. Selling your products online would just require a good marketing strategy.
You can start with this business idea in less than ₹1,000. However, to notch up your profits, a few more thousand would have to be invested.
Sell Your Skills
The easiest and no investment small business idea is to sell what you have already mastered. Several online portals and various methods of networking have made it easier than ever before to get clients. If you have any relevant skills including writing, graphic designing, marketing or even consulting in any domain, you got it. You can simply imply your skills for clients and make sound income from the comfort of your home.
Apply for freelance work online, build a strong portfolio and start networking. Be the boss of your business with no investments. You can invest, however, to polish your skills and update your knowledge of the domains.
Digital Marketing Agency
The hottest topic of the decade and rightly so, digital marketing strategies have revolutionized things online. Every single company needs a solid digital presence to sustain the odds of the modern-day. In fact, individuals with related interests too require a reliable digital presence to sell their products/ services. Digital marketing agencies take the load off from the companies and individuals and uses the best methods for optimized results.
If you have a sound knowledge of the domain, you too can start your own digital marketing company. All you need is a bunch of dedicated and talented professionals from different domains to resonate with your mission. Certainly, it is the most relevant small business idea.
Fortunately, if you reside in a metropolitan city, profitable small business ideas are limitless for you – a cleaning service is one. Due to hectic schedules and fast-paced lifestyles, cleaning is a much-neglected thing. However, professional cleaning services can grab the opportunity and make lucrative profits here.
A detailed study, dedicated team-members and professional equipment is all you need to get started with. A few lakhs can easily get you going with this small business idea that is profitable. After all, cleanliness is next to godliness!
Customized Gift Shop
A customized gift shop always makes its way to the list of top 10 small business ideas that are profitable. People and the occasions they celebrate aren’t ceasing for the century. In fact, with modern-day preferences, opportunities to optimize gifting options have broadened much. With an investment of less than ₹20,000, you can start your online customized gift shop.
A touch of creativity, right contacts and updated knowledge of trends can spike profits for this small business idea. Once you’ve made a name for you, staying relevant, however, is the real challenge.
Due to digital advancements, it is crucial to stay relevant with technology and its benefits. One can easily make profits from small business ideas if they market smartly online. Now with the government promoting small businesses by bringing in MSME registration, it is safe to say that the future prospects are strong. Businesses cease to exist due to a lack of funds or lack of persistence. To make sure you have both, plan wisely and choose an idea that interests you until money can.