It is a common misconception that starting a business needs large investment. This, however, is not the actual truth. With emerging dynamic marketplaces, the provision for multiple opportunities for people to start various businesses with a minimum capital of 1 lakh is possible.
You just need to have adequate knowledge about the several available business options that interest you. If you are planning to start a business within one lakhs investment then you have come to the right place. Here are a few business ideas under 1 lakh investment.
- Handicraft Store:
Starting a Handicraft store is a practical business option. Indian culture is well known for its rich variety of handicraft items. You can have a successful business out of selling handicraft items. You can either create a niche product or sell a variety of handicrafts. A few options would be painting, home decorative items from old discarded things, door garlands, glass and marble handicrafts, etc. Handicraft businesses thrive well in the international market for their quality of being unique thus, these items have a good profit margin as well. You can procure handicraft goods in bulk and then sell them at retail rates.
- Personalized outfits: If you have a good sense of style and fashion, investing in the clothing business is something you should think about. Personalized clothing items are something really in demand these days, be it printed t-shirts or caps with your name or even your bridal dupatta with wedding mantras written on it. People want to look unique and here is when these customised outfits come to play. One can give the desired design to you and get their custom made outfits ready!
Advertise and Promote your business on social media. This is a fast-growing business that will yield tremendous profit to you and if this business has its very own app then it can forge ahead very well. You can get your app built the very same day you read this article at www.growcify.com
- Eco-friendly Customised bags: With people being more aware of the environmental hazards, they are gradually switching to jute, juco, and other biodegradable material handbags. It is the most eco-friendly and economical way of making money. The best thing is that your customers can flaunt your custom made bags without feeling guilty about using animal leather or polluting the environment. With a few skilled labourers and machines, this can be a profitable business. People also look for personalized bags with some of their favourite stuff printed or stitched on the bag. This business will hike online.
- Bakery items: Baking is therapeutic as well as a rewarding business. If you are the one who bakes good cakes and is delivering baked goods locally, it’s time for you to leap onto the online market. Baking has a lot of prospects. Start with a niche baked product like cookies, brownies, or gluten-free baked items, and as the business scales online include other baked products as well. With only limited baking equipment one can establish a profitable baked goods store. Not just cakes and cookies but bread baking are also high in demand these days. With people switching to healthier diets they are opting for multigrain, brown, sourdough, rye and gluten-free bread. You can be the one selling exotic bread. This is a flourishing business and many brands like Theobroma have already made a lot of profit just by selling online.
- Online Bookstore: There are so many bibliophiles out there who love to read books but many of the books are not available on local eCommerce platforms. Having an online book store where one can buy, sell or exchange new as well as used or second-hand books is a brilliant start-up idea. While there are people who have shifted from bookshops to E-books nonetheless there still is that section of people who like the hard copy. Also, reading on screen tampers the vision. This business can also be established within a bare minimum investment of 1 lakh rupees. This business will reap tremendous profit as well, especially the reselling of old books.
- Pickle making: Pickle making is an ancient practice in Indian households. In every house, we can find a grandma with a different kind of “Achar” or pickle recipe. If you have borrowed the art of pickling and you have the set of recipes given to you by your granny then it is time to make a business out of it. Recently, in Shark Tank India we saw the two adorable aunties showing up with their startup plan of Jhaji aachar, they were highly appreciated for their endeavour. This business needs very little investment.
- Handmade candles: Earlier, when electricity was scarce, people used candles regularly. However, with advancement, candles have evolved and have become a fancy or luxury item. It is always in demand no matter what the era. Aromatic, colourful decorative handmade candles are high in demand in hotels, restaurants, bathrooms, etc. It is surprising to know the manufacturing cost of these candles which are so expensive. Roughly about Rs 20,000-Rs 30,000 is enough to start a candle-making business. It also does not require a huge manufacturing area, you can make them at your home. Wax, fragrance, wick, and a few moulds are all you need to make candles. This will be a very successful business if taken online. It can later be expanded as per the demand.
- Jewellery making: Imitation jewellery is a booming market, especially during the festive seasons in India. It is a very low investment business with a surprisingly high-profit margin especially when sold online. There are so many emerging apps selling imitation jewellery in the market which are gaining profit by the minute. All you will need is the raw material and the designs to assemble and make a beautiful necklace or earring which will be sold online for unbelievable prices. Many jewellery making kits are available in the market and online, for beginners to pros all kinds of jewellery making sets can be brought and experimented with. Later, after earning a profit on eCommerce you can set up your store under your brand name.
- Personalised gift items: People are always confused when it comes to gifting. A marvellous business idea would be an app that will provide personalized gift items. Be it a piece of jewellery, a cloth, custom or personalised mugs, photographic gifts, a customised phone cover, or bookmarks, any and every gift item can be customized and personalized here. The app will also give suggestions to perplexed buyers/users who are not very good at buying gifts. This business also, like the other businesses can be initiated within one lakh rupees. It has the potential of becoming big and can surely be a game-changer for you.
- Scrunchie/ rubber band business: Anyone with the basic knowledge of stitching can easily make scrunchies. It requires limited resources, basically just colourful satin or velvet cloth and elastic bands. Satin/velvet big scrunchies are very much in trend among women these days. The cost of production is considerably low and the profit margin is remarkably high. Within 1 lakh investment, it is one of the best business ideas.
However small these businesses might seem because of the low investment, the profit is immeasurable if the business is conducted properly. Once you step into the eCommerce world, the sky’s the limit for earning. Great importance should be given to marketing and you should not expect to see results instantly. Patience is the key to any business. If you are inspired by any of these ideas and want to start your business then go to the growcify’s website for creating your own app and website.