Do you have an eye for entrepreneurial opportunities but do you think the investment requirements would be huge? Not always true! Here are some business Ideas under 10 lakhs. 9-5 who?
It is not uncommon for people to dream of the role of a business owner. Many others, however, are unable to pay the exorbitant price tag that it bears. In the lead-up to this, they give up on their dream of being an entrepreneur.
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Therefore, we have compiled a list of small business ideas under 10 lakhs. People can save, secure credit from their banks, or find sponsors for INR 10 lakh.
Your business’s success is directly related to the amount of time and effort you devote to it. You need to discover new ways to keep your business going if you want it to flourish. Your business might expand using a variety of tools.
Using advertising and promotional services, you may advertise your business, identify a consumer base, and find a niche. All of these variables point to a successful business.
It is estimated that millions of Indians have begun their business journeys with just Rs. 10 lakhs. What’s stopping you? Let us look at some small successful business concepts that you may start with less than INR 10 lakh in the capital.
Business Ideas under 10 Lakhs
Investment: 6-7 lakhs
ROI Period: 6-8 months
There are several well-known brands on the marketplace today. Pre-sold customers are not the only advantages of a franchise, as they provide ongoing assistance from the pre-opening stage all the way through operational, training, and management support.
Acquiring a license to start a franchise store for many popular companies may be done for as little as 10 lakhs.
The first step is to conduct a thorough search using online resources to find out about the different alternatives available to you, such as healthcare units a restaurant a boutique or department stores or salons or daycare centers or casinos or fitness centers or coaching centers, or vocational training institutes.
IT Store/Gadget Store
Investment: 8 lakh
ROI Period: 6-8 months
One of the perfect small business ideas under 10 lakhs rupees is an IT or gadget store. Every household has at least one computer, smartphone, or another electronic device. Gadget stores are highly popular.
You can sell headsets, smartphones, entertainment systems, loudspeakers, and their accessories, gaming devices, virtual reality systems, cameras, and so on. It is a great time to open an IT store or a gadget store because of the growing market.
Approximately 7 to 8 lakh rupees are needed to launch a gadget store. With some leftover money, you will still be able to buy the newest and coolest items in the store. It takes time for any business to get off the ground. Thus, this is a viable option for you to pursue as a business venture.
Additionally, you might partner with a neighboring service center to set up a service and repair facility of your own. Solutions like free home delivery, on-demand gifting choices, and so on will increase client loyalty.
Investment: 3-5 lakhs
ROI period: 6-8 months
Whatever the occasion, the meals in India must be exceptional. Guests will always appreciate a memorable event if the quality of food is excellent, but poor catering may spoil even the most lavish of celebrations.
One might establish a small business by renting machinery and cooking on-site in this field. As long as you can secure a few short-term investments, you will be able to gradually increase and settle in this business.
It is also necessary to have a well-thought-out business strategy in place, even if you have a deep love for food! To keep prices down, the goal is to deliver a high-quality dining experience while maintaining low overheads.
Ensure that your staff is well-trained when it comes to customer service and dealing with guests. Bad reviews from guests might have a negative impact on future business.
Investment: 1-2 lakhs
ROI period: 3 months
When people think of delivery, they generally think of food delivery. As an alternative, one might begin to offer this service by collecting and delivering clients’ dry cleaning, as well as meals, flowers, and other things from local stores.
On a smaller scale, FedEx, a well-known logistics service company, has long been providing specialized rapid delivery services in India.
The bulk of your money will be spent on streamlining the delivery process. And since you don’t have to produce anything yourself, you only need to work with local retailers and design your distribution system meticulously.
Although it is possible that some places already have their distribution structures in existence, however, if your delivery area is larger, you will be able to attract more clients in areas where your type of service may be limited or not available at all.
Investment: 2-5 lakhs
ROI period: 6 months
Everyone knows that cleaning is a vital part of everyday life in a civilized society, but not everyone seems to enjoy doing it! (Remember Pig-Pen from Peanuts?) A seemingly tedious task may be transformed into a lucrative business opportunity with a suitable approach. Many companies in India like Keentoclean and Broomberg have already used the concept.
Nonetheless, several prospects may be taken advantage of. Cleaning houses, commercial buildings, and water tanks are a good place to start. A well-trained workforce is essential to the success of any business.
As there is always a need for this kind of work, particularly in urban homes and workplaces, more opportunities will come your way if you perform efficiently. Remember, clean it like it’s your own.
As a potential client, you can approach places such as medical facilities and temples; housing complexes; hotels; museums and galleries; academic facilities; and restaurants.
Investment: 1-3 lakhs
ROI period: 6-8 months
Create a real or virtual storefront and sell anything you want! It doesn’t matter if it’s a beautiful work of art, a handcrafted present for a special occasion, or an item of clothing or jewelry; you may sell all that!
You just have to create your company website or sign up for an e-commerce platform to start selling online. And you are all set to start selling whatever you want, provided it is legal. Buyers can also ask for products personalized and tailored as per their requirements.
What makes these goods priceless is that they are one-of-a-kind and handcrafted. Innovate in the manner you produce and promote your items.
The packing and labeling of your goods should be properly examined while shipping your goods. Another wonderful technique to capture people’s attention on websites is to provide high-resolution photos of your items together with extensive descriptions of what they are. You may leverage everything from word-of-mouth to media platforms to get your name out there.
Also Read: How to sell online in India?
Investment: 8-10 lakhs
ROI period: 10-15 months
Places, where people can rest their minds and body, are crucial when they are continuously battling tiredness and burnout in their everyday lives. Spas and other natural therapy facilities can help with this. They are little ways that allow people to be footloose and fancy-free for some moments, so it’s a good deed!
Spas are becoming more popular in India. Massage, facials, aromatherapy, hair removal, and hydrotherapy are some of the most popular spa services. Aromatic and herbal oils are used in Ayurvedic massages as well as in exotic treatments.
Based on the therapies you provide, the quality and cost of items and supplies, as well as the staff you employ, your investments will vary.
As a spa owner, it is critical to have solid arrangements in force for daily operations and every spa procedure. Customers should be able to conveniently choose from a list of services and items if a brochure is created. It is also essential to consider the spa’s ambiance and atmosphere while investing in its services.
A free sample of an oil or any other spa item may be used to woo consumers in the beginning. If you are looking to open a day spa or a medispa (a medical spa), you may do it by establishing yourself as a specialist in that area.
Home Maintenance Solutions
Investment: 2 lakhs
ROI period: 3-4 months
Maintenance and repair services are needed by everyone from individual homeowners to the managers of residential or condominium complexes and smaller retail and commercial establishments. Several businesses offer these services, and they often demand a yearly fee.
Starting a business as an electrician, plumber, cleaner, pest control specialist, water purifier maintenance technician or carpenter might be a good place to start. If all of these solutions are available over the phone or via an app/website, your company may be a one-stop shop for all of your customers’ maintenance requirements.
With just a smartphone, a computer, and the internet, you can start a company from your own house. There may be a price involved with purchasing necessary equipment and a vehicle for home visits.
Scheduling duties daily will require strong organizational and logistical skills, especially if you are working alone with no one to assist you. Expanding your job and business will benefit from this ability. Client satisfaction is critical to every enterprise, therefore you will also need employees who can interact effectively with your consumers.
Investment: Rs 3-6 lakhs
ROI period: 6-8 months
Most children and adults love participating in activities like music and dancing. If you are a talented musician or dancer, starting a dance or music school might be a fantastic opportunity for you. As long as you have the resources, you may set up a studio where individuals can master these arts.
If you are not a pro but want to go forward with the plan, you can always employ some qualified instructors. Have courses in classical and western dance, singing, and music, as well as contemporary styles.
Management abilities are essential for running the facility and scheduling sessions for different age groups. Furthermore, you can offer sessions at night or on the weekends to accommodate people who are unable to attend during the week because of other commitments. Promoting your business through word-of-mouth via learners is a great way to get the word out.
A cultural night can be arranged to exhibit what your customers have learned and market your business. Increase enrollment numbers by adding more sessions and batches, especially throughout the summertime and other vacation periods.
Investment: 2-4 lakhs
ROI period: 10-12 months
In India, the internet is a huge business. About 3% to 4% of the whole marketing industry’s earnings come from internet advertising, which converts to Rs.600 crores annually. Online advertising is a business that connects individuals who have advertising space on the internet and those who seek them.
To be successful in this sector, you will need to be well-versed in online advertising and the internet, as well as analytically sound and well-connected in your professional network. A few programs offered at different marketing schools can support you in honing these competencies. Additionally, for people who like to work from home, it is an excellent opportunity for freelancers.
You would want to compile a list of all of the relevant websites according to their specific target audiences and then contact the proprietors of those websites to get the best possible advertising space for your customer’s demands. In addition, this will enable the ad to have a wider influence on the intended group.
Also Read: Perfect Business Ideas for Women
Getting into a traveling business is one of the best business opportunities that you can opt for if your budget is under 1 lakh. There are people, both national and international, who are always planning a trip and are looking for ready-made itineraries and tours of specific places. Based on where you are located, you can start a business where you create well-planned tours for your city or even the country.
You can work with many hotels, tour guides, and taxi services and run your business smoothly.
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Lio helps in getting your life organized and it is that one place where you can store all your data regardless of what it is.
If you are planning to run a business, you can have a dedicated place to jot down all the important things, information, contacts, ideas, licenses that you need to acquire, employee details, customer details, deadlines, and everything else. Having Lio in your life would definitely make your life much easier and hassle-free.
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Of course, like with any commercial endeavor, careful study and analysis of the market and targeted audiences are required before formulating a solid business strategy. To maintain a smooth operation of the business, suitable management and administration mechanisms will have to be implemented.
It is also important to make sure that all the necessary paperwork is in order before starting a firm. Although Rs 10 lakh isn’t a massive sum of money, it’s important to be cautious while investing in a project.
If you’re looking for an opportunity to start a business for less than Rs. 10 lakhs, you will find a plethora of options available. Many more amazing ideas exist out there, of course. There is no time like the present. You may be the next superstar in this new world of entrepreneurship if you start brainstorming now.
Frequently Asked Questions(FAQs)
What steps to take for launching a Business from the ground up?
The following is a step-by-step guide to establishing your own business:
1. Design your startup’s business plan
2. The first challenge is to specify your target group or target industry
3. Find the right vendors for your business
4. Your startup needs the right equipment and gear
5. If necessary, obtain a business license
6. Build a website for your business to advertise it
7. Promote your business
8. Launch your business
Can I Start a Business with just Rs 5 Lakhs?
Five lakhs is enough money to launch a number of ventures. Some business concepts involve catering and food delivery; property management; telecommunications; investment and financing advisors; optical frame manufacturing; online retailers; clothes and handicrafts; etc.
What are some feasible Start-Up Plans for a Small Manufacturing Business?
Packaging containers and cartons, scented sticks producing companies, personalized T-shirt designing studios, tissue paper-making businesses, and so on are some of the small manufacturing business suggestions.
How much space and what kind of machines are required to establish a Cardboard Business?
You will need anywhere between 5,000 and 6,000 square feet of room to get started. In addition, a warehouse is required to keep the items safe and secure.
This will need the use of two distinct machines. A semi-automatic machine and a fully automatic machine. Based on how much money is needed for purchasing these machines, the two will be very different in terms of their size.
Does Starting a Small Internet Business need a Small Investment?
Yes, starting an internet business does not cost a lot of money. There are more savings in launching an online business than by opening an actual brick-and-mortar store.
One of the greatest ways to establish a small business is to create a website and an app, as well as perform some free digital advertising using social media.