Top 10 Small Business Ideas
Grow Your Business, Not Your Inbox
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To develop an industry or any business be it small, micro, medium or large, it is equal to growing a tree, which one needs to plant and take care of in the initial years, once the root firms itself, the tree takes care of its own self, bears fruits all its life and one can enjoy sitting in the lawn eating those fruits.
A study by the market research firm Zinnov said, India, which is home to about 4.88 crore small and medium business ( SMB )s provides employment to 81.16 million individuals and is all set to become the largest SME nation globally.
Micro enterprises account for 95% of total SMBs, small & medium put together hold the remaining 5% share and 55% of SMBs are located out of urban cities whereas 45% are situated in rural areas.
Technavio has released a new market research report on the global SMB and SME NAS market, which is expected to generate revenues of $18 billion between 2016 and 2020. The report also read that global SMB and SME NAS market is set to grow at a CAGR of 33% by 2020.
Here is the list of ten small business ideas, which will require only one time investments and you can enjoy the fruit all lifelong.
1. Gym or fitness centre
Gym and Fitness centre is one of the most promising industries with a lot of potentials to grow. The fitness industry is expected to grow from INR 85.4 billion currently to INR 142.47 billion by 2020 at a CAGR of 18.60%.
2. Event management
This is one of the fields, which is spreading like a forest fire as more and more people are ready to throw any amount to make their parties, anniversaries and occasions to be remembered for ages.
3. Customised Gifts’ shop
This business of handmade gifts, customized accessories or toys, cushions, cups, key chains, flowering pots or vase and home decors is unique and trendy. One has to follow trends and pick the pulse of the market.
4. Tuition classes
The easiest ways to earn money, without spending much is tuition classes. If you are the only one running tuition classes in the locality, then there are chances that your students will encourage others to come to you.
5. Real estate business/broker
All one needs is contacts and good communications skills to convince both sides of the deal and rest everything will be taken care of on its own. Being the mediator can do wonders.
6. Book store\ library
There are more book lovers and students than any customers for any business. A bookstore and library never runs out of business if finding the location is taken seriously.
7. Advertising agency
This business needs highly skilled and creative persons as its wheels, to run it smoothly. Once it picks up speed, there is no looking back.
8. Online blogging or freelancing
There is a high need for freelancers and online bloggers in almost all industries or renowned brands. Weave your words and spread across the world.
9. Leasing out house or equipments or vehicles
In big cities people flow in and out almost every day, thus it becomes helpful for them if they can rent things such as apartment, furniture, equipments, vehicles instead of buying and carrying them all around.
This business will make you earn profit multiple times than your expenditure.
10. Adventure tourism
This business is not seasonal, people go for vacations almost every month and tourists from other cities and countries flood in day in-day out. This is one of the promising small businesses available. Opportunists never wait too long for opportunities to knock at their doors, they jump the line and carve their own ways.