A small scale business refers to an enterprise or corporation which is characterized by low initial investment, fewer employees, and low sales volume as compared to regular businesses. Small businesses are usually privately owned and run by sole traders.
In current times, entrepreneurs struggle for capital which is vital to bring the business idea into existence.
As there is uncertainty about the viability of the ideas, people are reluctant to start their businesses. Therefore, in this article, we provide a list of profitable small scale business ideas which require very low investments to help you start your entrepreneurial journey today!
Small scale business are the best way to learn how to do business and grow with time. You will not only learn new tactics for business but also grow your business. Though the journey is not going to be easy you will face hardships or failure sometimes but each failure comes with ‘try again’.
What Are Some Small Scale Business Ideas?
Coaching Classes
Did you go to tuition centers after school and memorize everything taught at school in the morning? The same could now prove to be your additional source of income and guess what? You just require a room, some chairs, a board, a marker, and a duster to start your coaching classes! Nowadays many parents are looking for good tuition teachers where their children can grow and become intelligent.
And it’s a win-win situation if you know any foreign language like French, Spanish or German: you could easily start a small business without any great investment. The demand for foreign language classes is ever-increasing in today’s global world, so you need not worry about the pipeline drying up as an entrepreneur.
If you are not having a room where you can teach the students physically then you can start online courses also. If you are user-friendly with technology then you can start online courses too where you just require a good internet connection and you are set to go. It will eliminate the time your students travel to your tuition center.
Wedding Planner
Weddings are never out of fashion. Whether the economy is booming or going through a recession, there is always a market for weddings in India. With a growth rate of 20 percent per year, there are great opportunities for wedding planners who can look after wedding destinations, themes, and decorations, and immaculately plan and organize the entire wedding ceremony.
Initially, it requires capital investment for staff, logistics, and arrangements for which there is a plethora of loan options available at your disposal. While the initial investment is low, significant returns can be made once the business scales.
In this business you can grow with connections, once you have built a connection then you will receive orders easily. Also, you can think of tying up with some matrimonial sites where you can be the wedding planner for that couple. This will not only bring clients for you but will create your name in the market which will help you in the future.
Cooking Classes
Undoubtedly, cooking classes are a great business idea for a country like India. All you need is a kitchen setup, cooking equipment, the allied infrastructure, and your ingredients. The Capex investment is limited, and the small working capital investment which can be availed through small business loans from a wide range of financial service firms would suffice to run the enterprise seamlessly. The potential is enormous, once the cooking class is set up, several batches can be run with the same facilities.
For this, you can target the young generation who are now living alone and do not know how to cook. This will be a great target for you along with teaching your specialty. The specialty can be in dishes or cuisines like Indian, Italian or Chinese, etc. It can be a little tough in the beginning to get clients but once you have it then it is up to you how long they will stay with you and learn.
Antique Business
Opening a small antique shop having various kinds of antique items and furniture is a sure-shot successful business idea. Antique businesses can become highly profitable if you can find the right set of customers interested in antiques. However, this would require you to establish links with people in possession of antiques to meet the supply.
You cannot just randomly start this business, you have to first legally confirm the procedure for starting this small business. Be careful of all the scams involved in this business and possible risks.
Recruitment Services
Opening a recruitment service firm is one of the most lucrative businesses in today’s time. All you need to do is shortlist, select and appoint suitable candidates for jobs in the comfort of your house and earn great revenues without investing a lot of your funds. You need to possess good speaking and convincing skills for this. Also, be aware of what kind of job is in demand nowadays so that you can recruit properly.
Customized Gifts Shop
In India, people exchange gifts on all occasions, be it festivals, birthdays, or anniversaries! One can encash and utilize this opportunity by providing unique, hand-made customized gift items. Creativity and novel concepts are the core of this business idea and if you are a master in this field, you can scale up your business with a very low investment. Most people don’t have the creative skills nor time to customize items for themselves, here you can be the savior for such people.
Bakery Shop
Starting your bakery shop can be regarded as one of the most preferred small business choices in the current scenario. This business needs very low investment but your interest and baking skills are the major factors determining the success of your business. If you can serve different varieties to people, it will be a big hit. Just have patience at the beginning for this business.
You can have a crash course for learning bakery and hire people involved in this field. You can start with 2-3 people and then grow slowly.
Internet Service Provider
Usage of the internet is growing with the jet speed in India. If you are techno-savvy with good technical knowledge, you can start your own Internet Service Provider business with zero levels of investment.
Conclusion
Every business has its pros and cons, and the success of any business depends on your level of passion, perseverance, and zeal to crack. Your skill set and commitment determine the profitability of your small scale business in the long run. One needs to be confident and have a concrete business mindset to overcome the challenges that might lie ahead. The only advice we would like to give is: Just Start & Believe in Your Business Idea & things will fall in place!
If you can dream about it then you can find a way and then you can surely achieve it.
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