Top Profitable Business Ideas In Odisha For 2023

Top Profitable Business Ideas In Odisha For 2023

Let’s explore some of the most profitable and lucrative business ideas in Odisha that are perfect for anyone looking to start a business of their own.

Known as one of the most picturesque states with historical monuments, ancient temples, natural landscapes, beautiful handicrafts, and more, Odisha is one of the most popular places in our country and is a great place where you can start your business business.

There are so many opportunities available when it comes to the type of businesses one can start as their own. The place is a gateway to ASEAN region, Odisha is definitely growing with its ever-growing GSDP.

This means that Orissa is definitely a place where you can start a business and expect a good and successful start. 

Profitable Business Ideas In Odisha

Let us now take a look at some of the best and most profitable business ideas in Odisha that one can start.

Food Industry

Food Industry

Odisha is the hub for tourism where people come from all around the country and the world. There is so much to see and experience here from ancient monuments to landscapes and national parks. But another thing that is very popular in Odisha is the delicious food that one can enjoy here. 

People are always looking for places where they can find good restaurants to try authentic Odisha cuisine. You can start a restaurant of your own, where you can give the tourists a variety of options and flavors when it comes to the traditional food of this place. hence this definitely makes it to our list of best business ideas in Odisha. We already listed some food business ideas and how you can start a food truck business in our blog. Please check them out and learn more about food businesses.

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Handicrafts

Handicrafts

Odisha is known all over the world for its stunning handicraft. From terracotta, pottery, and hornwork to textile-based handicrafts, there is a lot that one can buy from here and tourists want a place where they can buy all these stunning things. You can open a showroom where you can either keep one kind of handicraft or a mix of all the handicrafts produced in this state. 

You can also sell your products online and send them to various parts of the world rather than just getting restricted to one place geographically.

Also Read: Best Business Ideas in Kashmir

Franchise

Franchise Partner

Buying a franchise of a brand is an expensive affair but so worth it. It is a sure-shot answer to a successful business and one can make a lot of money out of it. Whether it is a franchise of a food brand, clothing brand, or anything else, it is bound to attract a lot of customers. 

What you would have to work on is getting the kind of money with which you can buy a franchise. You can either approach a bank for the loan or ask family or friends to help you with it.

Also Read:
What Is The KFC Franchise Cost In India?
How to Get Patanjali Franchise?

Cashew Nut Business

Cashew Nut Business

The next one on our list of best business ideas in Odisha is the cashew nut business. This is a big profit-generating business that is definitely going to be very successful and also requires very less investment. With a high demand for cashew nuts in this place, it is a famous state for cashew production.

The demand for cashew has only increased in recent years as more and more people are moving towards a healthy lifestyle and want properly processed cashews that are a source of several health benefits. 

You need to have proper processing which is absolutely mandatory. Also, look for a good location where you can get raw materials easily.

Solar Energy

In today’s time, a solar energy business is considered a profitable business all over India and it also gets huge funding very easily. More and more people are moving towards sustainability and saving our natural resources.

Therefore the idea of starting a solar energy business in Odisha is definitely a good one. Moreso because Odisha is one of the hottest states in our country and that too all over the year and you can also supply electricity at affordable rates. 

You will earn profits on a low investment. This is going to be a huge demand in the coming future.

Tourism

Tourism

When it comes to tourism, Odisha is definitely one that comes in the top most popular places to visit in India. There are so many places to visit in Odisha like beaches, wildlife sanctuaries, landscapes, mountains, etc. 

Because of this, the tourism sector definitely holds a lot of potential and it can be a great business provider to photographers, tourist guides, and more. You can start a taxi business or online travel agenecy of your own. Lio provides Taxi and Transport templates from which you can easy handle all your clients list and easy manage it with automation.

Also Read: Best Taxi Business Ideas for India

These are all low-investment business ideas in Odisha and can be of a huge return. You can choose your area of interest and start your business accordingly.

Successfully Manage Online Tourism Business.

With The Lio App and the many amazing features that it offers to handle the end-to-end processes of the Business.

Jute Bag Making

Another great option for starting a business in Odisha is Jute making business. The state is well-known for producing jute crops. Jute is an important part of our daily lives as many things that we use are made out of jute like bags, chairs, tables, etc. If you use the raw materials in a planned manner, it can be a good money-making business

This business would require a small investment and would be very successful and profitable. 

Candle-Making

Candle-Making

People looking for good business ideas in Odisha can also start candle-making businesses with a very small investment. Read my low investment business ideas list which can help you earn money in future. The state has a high demand for candles. The raw material required for candle making is easily available in Odisha. You can make all kinds and shapes of candles or as per the demand of the customers. 

You can start to make them at home initially and sell them online as well as locally in some stores. Get in touch with a grocery store, wholesaler, or other such places to sell your products. The market for decorative candles is already huge as they are being used widely. You can sell them cheap as well as expensive based on the kind of candle.

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How Lio can Help You With Your Business In Odisha

To make your dreams come true of having a business of your own and managing it nicely, Lio App can help you big time. The app lets you keep all sorts of data together in a more organized manner. You can keep records, and create tables and lists while working solo or with a team. 

The many features of Lio would help you with your retail business as you would be able to maintain all data on a track that you can use at any time. If you want to upload a document, then you can do that. Know the money transactions, cash inflow, profit and loss you are making, Udhaar, list of products, services, and even the teammates and clients that you have all in one place. 

Your retail business ideas will certainly become successful businesses if you go on this journey of managing your business with Lio.

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Step 2: Create your account using your Phone Number or Email Id.

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Verify the OTP and you are good to go.

Step 3: Select a template in which you want to add your data.

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Step 4: All Done? Share and Collaborate with your contacts.

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Conclusion

I hope this article has helped you with many interesting business ideas in Odisha that you can start. You have to do your research well and also see where your interest lies. If you plan and execute everything well, you would be able to run a successful business that will bring your profit. 

Frequently Asked Questions (FAQs)

What are the different funding options available to start a business in India?

You can take a small business administration loan. Apart from that, you can consider funding from private investors. Crowd-funding is a new funding option getting popular these days where one can get funds from multiple sources simultaneously.

How can one register my company in Odisha?

You need to follow the below given simple steps to register a company in Odisha:

Step 1: Acquire the digital signature
Step 2: Apply for the director identification number
Step 3: Apply for name approval
Step 4: Get INC-32 form attested by CA, Advocate, or Secretary of the company
Step 5: File the e-MoA (INC-33) and e-AoA forms (INC-34)

What are the documents required to get the Private limited company registered in Odisha?

The below-given documents are required to register a company in Odisha:

– PAN Card
– Identity proof
– Address proof
– Two Passport-sized photographs
– Scanned copies of photos and proofs

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