India is the next business flashpoint after China. While the current demonetization by government has created much hullaballoo, nonetheless investors and businessmen are still keen on taking chance in this growing economy and making profit out of it.
India has already made its mark as a startup nation and PM Narendra Modi’s initiative of Startup India has further augmented business goals of young entrepreneurs. Small business startup ideas have received recognition and are being implemented with the right actions.
In a country that boasts of a huge population (1.34 billion, as of Nov. 2016), it is but obvious that business, if conducted in the right path, are bound to succeed. Of late, while in the technology domain, several startups have mushroomed, (especially in the e-commerce segment), other small business startup ideas do succeed to a great extent.
Explained below are a few small business startup ideas for 2017. Take a look.
#1. Real Estate Consultant
Investment amount: INR 25000
ROI: 1-year minimum
While currency ban has its effects on the real estate sector, business is expected to bloom as usual in the following year. To begin with a small business idea of real estate, you have to have a sound knowledge of the sector, current price trends and other associated stuff, related to real estate. You can end up charging a commission of either 1% or 2% and accordingly receive the profits.
#2. Fitness Centre/Spa/Gymnasium
Investment amount: INR 1 lakh to INR 2 lakhs
ROI: 1 or 2 years
The way today’s world is changing, health has become a huge business for all. Digitization has led to people becoming more stagnant (spending hours on their iPhone or laptop) leading to various diseases. This is precisely the reason why we find more and more people are hitting gymnasium and spa these days. Moreover, with the passage of time, young Indians have become more health conscious which is another reason to hit the gym or visit a spa on a regular basis. So, opening up a fitness centre or a spa can actually be a good idea, if you are thinking about launching a new small business startup, launching a fitness centre, a spa or a gymnasium can be a good idea.
#3. Tutoring Services/ Coaching Classes
Investment amount: INR 5000 to INR 7000
ROI: 6 months
If teaching comes to you naturally, then you may consider starting your own business of tutoring services or coaching classes. This is probably one of the most convenient small business ideas and returns are huge, that too within a short period of time. The best part is, you can start off pretty young. Even when you are in college, you can choose to teach high-school kids and make a rock solid income out of it.
On the other hand, you can choose to launch a full-fledged business and provide coaching classes. The trick to success is of course your talent in teaching and once you have established a name for yourself, you can end up earning in lakhs and lakhs per month.
Other small business startup ideas, include starting a tiffin service business, opting for franchise and multi-level-marketing of products or even starting a small restaurant. If you have a concrete business model in mind and succeed in implementing them properly, chances are that, your business will reap lot of benefits.
Author Bio: A digital media strategist and a content marketer, Sampurna is passionate about writing and blogging. Working as a full-time professional writer for more than five years now, she has been lending her expertise to the online world by penning articles and blog posts on jobs and careers, HR tips and the recruitment industry. She also enjoys reading and travelling.