Are you looking for best small business ideas in India which you can easily start with minimum investment? Look no more.
We are going to list of low investment startup ideas which you can consider in 2020.
Best Small Business Ideas in 2020
1# Power Inverters
In India, the power inverter market is growing at a rapid pace. This idea is considered the best business idea as the electrification rate will be improved in India in the near future.
Tech Sci Research shows that the power inverter market is expected to surpass $720 million by 2023.
One must check the power requirement, VA rating of the inverter and battery size of inverter and then sell the inverters according to the customer requirement.
2# Food Delivery Service
One can start a food delivery company in India if they have at least Rs 15000 INR. It has a break-even period of two months. A gross profit of nearly 20 percent can be provided by this service.
You must have sales and management skills to run this business. You can either start your own company or either do a partnership with someone else.
Further, you can also make food delivery apps for your business like Zomato, Food Panda, Just Eat, etc.
Dropshipping emerged as a new business idea in India. The profit margin will be your selling price and the price of the supplier.
You can sell 3 times higher as the supplier price. In India, registering this business is compulsory and you must get Goods and Services Tax Identification Number (GSTIN).
First, try to find a supplier and then create an e-commerce website, promote your website on social media and receive orders.
Consequently, place orders through the supplier and the supplier will deliver the product to the address of the customer and in this way, you can make a profit.
4# Maintaining The Nursery and Garden
This business idea can be started with a very low investment. The majority of people are aware of the environment and they place plants and shrubs at their homes and offices.
In India, the nurseries will increase by 40% until 2024. The soil is between 5.5 and 6.5 pH while planting. Through this business, you can sell seeds and fertilizers also.
The most lucrative field in this digital age is blogging. Blogging needs a minimal startup cost. In India, you need Rs 3600 INR to start a blog.
Just invest in the domain name and choose the right social media channels to promote your blog.
Read: How to Start a Blog?
6# Used Car Dealers
It is an emerging business in India these days. Some people can’t afford new cars so they opt for the used ones.
In India, the used car market can grow as CAGR rate to succeed in federal agency 1.5 billion by 2020, but overall this is expected to register a CAGR of 15.12%, during the 2019-2024 forecast period.
You can work on a commission basis and take dealership of used cars. You can divide the category of used cars by vehicle type, vendor type, and fuel type.
7# Non-Profit Organization
In India, you can start a non-profit organization with a good cause. By taking a consumer survey, 89% of respondents said they will switch to a brand or product if it is associated with a better and good cause.
Either you are starting a business or making an online business app, partner with a charitable organization that supports a cause for the betterment of the world. At checkout, you can ask to add donations from customers, etc.
8# Organic Deodorants
Organic deodorants are free from aluminum and offer a variety of benefits. Between the years 2019 and 2023, the revenue will grow at a rate of 3.9%.
The Fragrance segment revenue will reach USD$354.5 million by 2023. One can enter into this business because this market will keep on growing. You can sell these deodorants in shops, malls, etc.
9# Distilled Water Market
The majority of people in India prefer to drink clean water. This segment will generate USD$10.474 billion by 2021 in India.
Distillation water is among the best business idea in India as this segment keeps on growing. You can either start your own distilled water business or either distribute this water to consumers.
10# Custom Made Chocolates
Entrepreneurs make custom made chocolates according to customer requirements. Maintaining food quality standards is important.
Anyone can start this business with a budget of Rs 1, 00,000 INR in India. Between 30 and 35 percent is the expected gross profit.
It is necessary to be creative and must love chocolates in order to enter into this business. You can either open a shop or sell these chocolates online, etc.
Soon, we will add more small business ideas in India in this list. Keep visiting Startup Ideas.