Some ace business owners know exactly which industry they want to conquer. However, it’s not the same for everyone as the industry trends keep changing, and you’ll always find yourself at the crossroads. New entrepreneurs find it daunting to discover that perfect business idea that makes them dollars.
To ease off the burden from your shoulders, we have compiled a list of investment-worthy business ideas. Each of these ideas has a huge potential to grab the market and grow tremendously, provided you put in your best efforts.
You must maintain the right combination of hard work, resourcefulness, and patience. Let’s understand each of these business investment opportunities in detail.
Dropshipping is huge these days and is one of the best small business ideas that you can start with minimal capital. It refers to a retain fulfillment method wherein the company takes orders from the customers but doesn’t store any inventory in the warehouse.
The best part is you will not be responsible for the manufacturing and shipping of the products. It’s a low-risk business model that allows you to learn about the market closely. Your entire workforce will be dedicated to receiving orders and passing them to the supplier who ships them with the help of a third party.
It’s cost-effective and gets you a huge chunk of profit. This model has a lot of benefits for MSMEs in India. And it only demands you to focus on marketing the online store and converting customers using a sales funnel.
The shipment industry is a fast-growing niche in India and a great opportunity for you to invest. The cost-benefit ratio of this business is high, thus providing a lucrative ground to help you make it big. The customer base is shifting to the eCommerce zone, and online shopping has become the new normal. In such a scenario, the courier industry can grow at an incredible rate. Also, this gives the dual benefit of B2B dealings and direct customer feedback.
Entering a new market may seem risky to you. To overcome this, your financial risk management can play a crucial part by conducting a detailed analysis. Experts at CIMSME India suggest that when you experiment with investments, don’t make a first-hand purchase; instead, get a franchisee of the existing popular company and take it forward.
Online Fashion Chains
There is a surge in the fashion and lifestyle industry in India, and you can tap this market to make big money. People are becoming more fashion-conscious, and the haul culture is all over the place. In fact! According to trade analysts, the Indian fashion industry is set to grow to 111.40 billion dollars.
You can make the most of this business in two ways. One method is curating local vendors’ products and selling them online via an app. Another way is to set up a small in-house manufacturing unit and produce the fashion items. You can sell it directly to the customers or carry out B2B dealings. You can raise loans for the production unit if your company CIBIL report is up to the mark.
Digital Service Industry
The internet age has brought a boom in the service industry and will grow even more. The cut-throat competition and high advertising demands give way to a new market for social media services. Every company is ready to spend a huge budget on marketing through various digital channels.
If you have a sound knowledge of advertising, management, copywriting, etc., then it’s best to start a social media agency. The investment cost is minimal, and the profit margins are extremely high. You can check the No Defaulter platform, fetch details about the best-performing agencies, and offer them a deal.