Here’s a list of seven businesses you can start with a budget of two lakhs or less. As Napoleon Hill once said “Don’t wait. The time will never be just right”. Here are seven businesses, explained in a line or two, that you can start right away!
1. Small food kiosk
You’ll need a stand to sell, equipment to keep your food fresh, something to heat the food with and serve the hot food on unless, you’re selling ice-cream of course! Where you’re planning to set up the kiosk is very important along with the the distinct flavor of the food you serve. Social media, especially Instagram is a great way to connect with your audience- that’s as good as advertising! Except, it’s free.
Easy to set up and shut down shop
Food can be prepared at home
Highly competitive (Since there is close to no entry barrier)
Other expenses to run- Goes without saying
2. FASHION AND TAILORING SERVICES
From time immortal fashion has been the epitome of change. It doesn’t mean just clothing/apparel anymore. You could be designing bathing suits or accessories for dogs! You could be designing for the next Gaga or Gigi. Fashion is beyond national and ethnic boundaries, cultural barriers and stigma. It’s an expression. What people wear is what makes for their first impressions
This business, as they say, is not just run by passion for what you do, but with a little bit of commercialization.
Are you a socialite?
You don’t have to be, but it always helps if you are social.
Ruinous, excessive or unfettered competition
Innate talent with a helping hand from luck or coincidences that bring opportunities is a better bet
3. REAL ESTATE AGENCY
Find properties for you prospective clients. Try your hand at it before you take it up full time. Real estate agencies have been successful in spite of quite a few online portals for renting and purchasing properties. Advertise on different platforms that you have listings available for houses, apartments, flats, rooms, offices, etc. You could have two models- charge a one time fee or work on commission (most of your customers would prefer). Once you have the experience, you could be a property manager too.
Close to zero investment
Your friends could help you with clients
You can learn as you work
No professional qualification is required
It’s not a desk job
Entering and establishing yourself or building a brand is not easy
4. RENTAL BUSINESS
Renting is the future of buying. Rental market is predicted to be the next big thing! With increased mobility and acceptance among the people. Renting, given the right technological boost will make good business.
Look around your locality and conduct a research on items that could be of rental value in the area. You can start from as small as – wheelbarrow, head-pan, shovel, trowels, drums, ladders, scaffolding or sledge and move on to mini-trucks etc. once you have the resources to expand.
The rentals market is growing
Employment opportunities are penetrating to Tire II and Tire III cities
Highly volatile real estate prices
Requirements change depending on different segments of your clientele
5. LAUNDRY/IRONING SERVICE /CLOTHES CLEANING or HOUSE CLEANING SERVICE
The working class are you targets. Too many dirty clothes and too little time! This where your services come to their rescue. If you have the knack for cleanliness, this business is for you! You might have to spread the word around and spend on little bit of advertising.
Offering services to corporates are profitable
Consistency in flow of monetary resources
Erratic power supply
6. WEDDING PLANNER
It was not until I had attended a wedding in Delhi that I thought weddings were good business. Impressed by how much people spend on celebrating their union with their significant other, I had second thoughts on my current job! You will need to be up-to-date on wedding trends, dresses, color trends, amusing installations, fancy food and drinks, almost everything under the sun. People will ask you for concepts, themes or even ask you to make their dreams come true! If you could help, make their dream a reality, this is just the thing for you!
Quoting most event managers- “The satisfaction in looking at the idea in your head transform into something so beautiful”
It’s a 24/7 job
A busy life
Pressure and disaster management
7. VIDEO COVERAGE SERVICE
Footage is not just what you remember something by anymore, it’s an asset! Get acquainted with how to create movie like videos, the latest Video graphic programs and technologically advanced techniques. You could start with covering small parties for a nominal fee or nothing at all and then go on to cover conferences and private ceremonies.
Everyone needs footage
Have the right skills? Quite a lot of money.
Security is a major concern
Cost of equipment