Best business ideas which are low cost and guarantee a great return
“If you don’t build your own dreams, someone else will hire you to help build theirs!”
Quitting a 9-6 job and diving into entrepreneurship is on almost everyone’s wish-list. But, often, due to lack of a strong business idea, many aren’t able to leave their mundane jobs and start their own company. If you, too, are looking to start your own business, or expand your venture, then here’s a list of best business ideas, which are low-cost and easy to implement:
- School and office supplies virtual store:
These products are in demand all year round, so entrepreneurs do not need to worry about making sales. With a large number of businesses and schools situated in the urban, and now rural, areas of India, products such as textbooks, pencils, pens, paper of different varieties, notebooks, and others will always be in constant demand. All you got to do is strive for tie-ups with schools / offices and then deliver periodical supplies!
- DIY instructing:
Nothing beats teaching more novice learners about your passion, hobby, or craft. Explore dozens of DIY portals (such as DIY.org, DIY Network, Instructables and Mahalo) to get ideas on how to earn a healthy side income just by showing others how to do the things you love. You can also sift through the countless ad-supported YouTube channels that teach just about anything from guitar strumming to 3D printing.
- Teaching English (yes, you read it correctly!):
Teaching and tutoring English as a second language is a great way to make some money, not to mention opening doors for you to travel the world if you’d like. While full ESL (English as a Second Language) accreditation is recommended, as long as you’re a native speaker, there are people in countries such as Hong Kong or the UAE who are willing to pay upwards of $25/hour for you to teach them English via Skype.
- Train-the-trainer and executive training solutions
Training focused on teaching behavioural and cognitive skills to corporate employees, and to trainers, is only soaring in demand. Also, using the train-the-trainer model, inexperienced instructors receive coaching and mentoring from experienced teachers or facilitators. The seasoned personnel guide the less experienced in developing the skills and knowledge they need to deliver the course themselves. All you need to do is hire good trainers and a facility to impart the training (online and/or offline) and you’re good to go!
- Online toy renting:
An innovative online business is toy renting. With more and more kids being exposed to tvs, YouTube and other media channels, they’re a perfect target for a dvertisers, thereby increasing demand for toys and video games among kids of various ages. You can start an online toy renting portal. The business model is very simple – you need to purchase a large number of toys and video games and market it online for renting. For that you can derive a plan for monthly, quarterly or yearly subscription.
- Energy auditor:
Business houses, and homeowners, are always on the lookout for ways to save on their utility bills. You can come to their aid by providing them with an audit of their house and giving them a breakdown of how they could accomplish real savings in heating, cooling and electrical use. You can go one step further and do the implementation and installation of some of your suggestions in their home yourself. Do a complete appliance audit, with efficiency ratings and calculations based on the age of the appliance. Help them save money, and you’ll earn too!
- Becoming a “life coach”:
If you’re great at understanding and motivating people, then this one is definitely for you! A life coach is person who helps people attain their goals in life. Life coaching has grown to be a hugely successful form of talking therapy, to the extent that it has helped turn people’s lives around. With increasing levels of stress, depression, suicides, anxiety, etc., this profession is only going to thrive!
- House cleaning business:
With more and more women working, and there being an acute shortage of domestic help, professional house cleaners will be in huge demand. Start a professional cleaning agency, and hire cleaners, develop an online portal for customers to book your services, and boom! It’s fairly easy to start, requires no training or certification, and if you’re detail-oriented, it could really play to your strengths. After all, who doesn’t want their houses clean, right?
- Online fitness instructor:
Becoming an online fitness instructor is unique business idea – you need to train people online for health and fitness. As people are running out of the time, they will be ready to pay money for online training on fitness.
- Senior citizen assistance business:
With the concept of a ‘nuclear family’ gaining popularity in India, and with children moving out of their nests, this one’s a sure-to-succeed business idea. Do you have a passion for helping the elderly have a better quality of life? If so, you could start a small business focused on assisting senior citizens. Whether that be running errands, taking members to social functions, or helping them around the house, there are plenty of options, and starting a business helping others can be deeply rewarding.
- Instagram marketing:
Build up a following on your Instagram account and you could quickly be approached by major brands, gear companies, and other relevant businesses that sell products or services related to the type of content you share on Instagram. If you have the right marketing skills and hundreds of thousands of followers, you can easily charge anywhere between Rs. 10,000 to Rs. 2,00,000 per post or more—which makes for a very profitable business idea.
- Personal concierge:
This business is for someone who is supremely efficient and has the ability to make things happen. People who hire you will expect things when they want them and you need to be able to come through with not only what they want, but with a personal touch and a smile on your face. The most likely clients for a personal concierge service are top executives who find themselves at the office by 7 a.m. and are there most nights until 11 p.m., leaving them very little time to do all those things that often need to be done during those very hours.
- Security services along with a spy agency:
With growing security need you can start your own security agency. Also, another good option is to work as spy, or a private detective. Going forward, this service is only going to have more and more demand.
- Debt recovery services:
With loans getting cheaper, and advertisers creating demand for luxury items, more and more people are turning towards loans and purchases on EMIs. A large percentage of them take a loan and don’t pay EMIs on time. In order to collect outstanding money, banks, or even private players, appoint collection agencies who collect defaulted money. Starting a debt recovery service, or a collection service is definitely a good bet!
- Rental of video-conferencing and board-room facilities:
Many Small and Medium Enterprises (SMEs) do not have a video conference or boardroom facility. If you have space, capital and expertise to make board room or video conference facility, you can indeed make good money out of it.
- Resume writing:
A resume is an important document for getting a job. People often look for a professional resume writer. If you are very good at writing resume you can start this business – and all you need is an online presence for people to get in touch with you.
- Medical tour services:
Compared to various countries globally, medical expense in India is quite less. That is why many foreign nationals come to India for surgeries or medical treatment. You can plan to make service firm to provide services for visiting foreign nationals for medical treatment in India.
- Online training:
If you are an expert in a specific field, you can provide online training to people, and charge for the services offered by you. You can reach out to people all over the world. Some fields on which you can provide training are fitness, yoga, accounting, IT, marketing, etc. In order to promote your business, you should create a Facebook page or a website.
- Mobile garage services:
Opening a “mobile garage” by keeping mobile manpower/repairers is a good business idea because usually car breakdowns take place in the area where garage service is not available. You just need good mechanics and motorcycle to start this business.
- Mobile food services:
Serving healthy and tasty food is a very good idea and that is also in the form of mobile service. You can think of starting a mobile food service. In this business, you don’t require huge capital, but yes, you must serve healthy and tasty food.
- Green consultancy:
The future is dependent on green technology, where businesses and environment can co-exist, and more and more businesses will, slowly but steadily, opt for green. If you have skill and knowledge of energy-saving strategies, you can start this business.
Now that you have your idea from the list of our best business ideas, here is an action plan to set your dreams into reality:
- Choose an industry
- Conduct a feasibility study
- Write your business plan
- Register your business
- Join professional networks
- Create a professional website for your business
- Hustle, hustle, and hustle!
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