4 Business Ideas in India That Can Be Started on a Small Scale

In India, unemployment is rampant, especially during times like these when coronavirus is at its peak. While many people have lost their jobs, many are facing salary cuts. All of this is compelling many people to look out for options and making them realize that it’s never too late to start one’s own venture. One of the biggest misconceptions that people have with regards to starting a business is that it requires huge capital. However, this isn’t always true. A business can be started with an investment ranging from small to big. In fact, many of the most successful entrepreneurs in the world had started small with very low investment. One of the best examples to state here is Mark Zuckerberg of Facebook who had started his business in a dorm room along with his college friends. The business is now leading in the world. Below mentioned are a few lucrative business ideas that can be started on a small scale.

Incense Stick Manufacturing:

Incense stick, also referred to as agarbatti serves a unique purpose in the Indian community. It is used in religious ceremonies, prayers as well as social functions since centuries. The fragrant fumigant also tends to possess insecticidal and antiseptic properties. Since agarbatti is widely used in India, Sri Lanka, and Burma, it is an export-oriented business that requires low-level technology. Most of the raw materials that are required in this business can be sourced from Bangalore and Mysore. The minimum investment required for earning an ROI of 30.94% per annum is around 5 lakhs.

Bus Service Website:

This low-investment internet-based business can make you a millionaire. With about 90% of the Indian population traveling by buses, people always prefer to know the details and the schedule related to buses beforehand. The information they are particularly interested in includes ticket rates bus route etc. Entailing a minimum investment of Rs. 200,000, this business requires ample knowledge of interstate and intercity bus routes. The website or app would be aimed at letting people book buses. The minimum time frame required to start earning a considerable profit with this business is 5 months.

Mobile Recharge Shop:

Even with plenty of online recharge shops, most of the mobile users in India still prefer visiting a recharge shop to fill their balance. So if the idea interests you, you can start by renting a small local space. The next thing to do is to form ties with the network providers in your area such as Vodafone, Airtel, Idea, etc. Note down the commission rates you will receive from them in return for the commodities taken. When not in expensive real estate property, the overall costs won’t exceed 10,000–20,000 scale.

Shrimp Farming:

The success of the freshwater shrimp farming business usually depends on the quality of the pond. The first step involves acquiring adequate business licenses and permits to operate a freshwater shrimp farm. These can be bought from the state’s department of agriculture. The second is to secure a location to raise the shrimp. Although most of the farmers use ponds, it isn’t always required. Tanks, swimming pools, and other containers with ideal depth can all serve the purpose. Aerators, juvenile, and feed are some other things that you would require. Take inspiration from entrepreneurs such as Varun Thapar, KCT Group who are running successful shrimp farming businesses ( The Waterbase Limited) before taking on the plunge.