Top Successful Small Business Ideas – Here are top successful small business ideas that require very less investment. These ideas, if executed well, can ensure that the business flourishes and is profitable.
A business idea with low investment is a very desirable proposition. However, most people are not sure what those ideas would be and how they could fit into their scheme of things.
Here’s a list of top successful business ideas with very low investments:
Top Successful Small Business Ideas:
1. Computer Training Center:
We are in an era wherein there is a lot of demand for computer literacy and proficiency. If one has a basic idea of how to operate a computer and how to work with simple tools such as the Microsoft Office suite of products – Word, Excel, and PowerPoint, the chances of employment of the person is much brighter. Hence, there is a great demand to learn computers, programming and the booming areas in technology such as artificial intelligence, blockchain, data analytics, IoT, etc. Are you an expert in any such area? If yes, you can start a training centre equipped with an internet connection, a few computers and learning aids such as whiteboards, projectors, etc. The business is driven by knowledge and hence the subsequent investment after the initial Capex outgo is low. Multiple batches can be run for college students, working professionals, etc. and a handsome profit can be made on a very small initial investment. What’s more, a small business loan for such initiatives is easily available.
2. Boutique, Salon, Spa, etc.:
There is always a demand for personal hygiene, fashion and grooming-related services. Once you make an initial investment in the store and raw material, if you can focus on selling and brand partnerships, you are highly likely to turn it into a profitable business idea. A small business loan for the same can be easily availed. If you are interested in becoming your boss with any such venture, the right time is now!
3. Real Estate Agent or Broker:
How about becoming a rainmaker for your own business? Sounds interesting. With a little research on the real estate market in the area and an understanding of the prospects for both commercial and residential real estate, one could venture into creating a real estate agency. If you have good communication and people skills, you are likely to attract buyers and sellers alike and broking a deal could help you earn a handsome commission. The investment required to start this is very less and as you build your network and start playing a role in more deals, the commission you earn can make the business venture a highly profitable one.
4. Web/ Social Media agency:
In the digital age, most companies want to spend their marketing budgets on advertising through digital channels and paid social media campaigns. If you have a good knowledge of marketing, communications, branding, web presence management and social media, you could start your venture to help companies establish a strong digital footprint. All you need is an office, a few computers, some skilled professionals and you are good to start. Are funds to start up a problem? You needn’t worry as there are many options to avail of a small business loan to start a web/ social media agency.
5. Tuition/ Coaching Classes:
What was your favourite subject in school? English, mathematics, physics, literature or Chemistry? Did you sail through Mathematics like a wizard or did you have a special chemistry with Chemistry? If yes, a room, some chairs, a board, marker and duster is all you would need to start teaching a subject. If you know a foreign language like French, Spanish or German, you could easily impart lessons in such languages and start a small business without any great investment. There is always a demand for foreign language classes from students and professionals hence you need not worry about the pipeline drying up as an entrepreneur. The idea is not only about low investment and high returns, it also has a certain sense of cash inflow and demand predictability. For such businesses, you can start with a very small business loan too and there is no dearth of avenues from where you can get a basic loan to start this type of business.
6. Event/ Wedding Planner:
Weddings never go out of fashion. Whether the economy is booming or going through a recession, there is always a market for weddings. To add to it, weddings range from the “big fat weddings” to very private gatherings.
To put things in perspective, the Indian wedding market was estimated to be around $50 billion (around ₹33,000 crores) in the year 2017 and it is growing at a rate of 20 per cent per year. This presents a huge opportunity for wedding planners who can ensure wedding themes, planners, decorators, caterers are in place and immaculately plan and organize the entire wedding ceremony. It requires initial capital investment for staff, logistics and arrangements for which a plethora of small business loan options are available at your disposal. While the initial investment is low, the returns that can be made once the business scales is significant.
7. Cooking Classes:
If the popularity of shows such as MasterChef/Mr Chef is any indication, cooking classes may be a great business. It requires very low investment but can earn good profits. All you need is to set up a kitchen and equipment, the allied infrastructure, the raw materials and cooking ingredients. Anyone who believes in the potential of this business would need to make a very low initial investment. They can avail themselves of small business loans from a wide range of financial service firms. Once the cooking class is set up, the proprietor can run several batches at the same facility.
8. Driving School/ Cab Service:
If one has good driving skills and can buy a vehicle such as a car, driving lessons can be imparted to people. With the same vehicle, the person can teach 10-15 customers in a month and earn a decent amount with minimum investment. It might not be very difficult to avail of a small business loan and buy a car. A part of the earnings from the driving school can be used towards repayments to service the loan. Depending on the savings, the fleet of cars can be expanded, more driving instructors can be hired, and the business can flourish. A person may also avail of a small business loan to buy a new car. If he has the required driving skills, he can enrol in a ride-hailing service such as an Ola or Uber. Once he does that, he can offer rides through the ride-hailing app and make money to pay off his loans and save for further business expansion.
9. Food Catering Business:
Everyone enjoys good food. A food catering business is never out of demand. All occasions such as birthday parties, weddings, anniversaries, etc. have food on offer and caterers are in demand to ensure that the food served is delicious. For a food catering service, all you need is a kitchen and a few employees to cook, serve, deliver and manage logistics. Did you always want to own a dream restaurant chain? You can start with a food catering business as it is a comparatively low investment and high return business. You can avail of a loan for the Capex investments and slowly build a great business. Considering our country and the celebrations, rituals and events we have throughout the year, a catering service will always be in demand. It is one of the best small investment ideas.
10. Fitness Centres:
More than 70% of the population of the world is less than 35 years old. The youth are a health-conscious lot and many of them are members of a fitness centre or gym. They love to hit the gym and burn a few excess calories. The remaining 35% also comprises a lot of fitness enthusiasts and health-conscious people. Anyone who has trained in an area of fitness can start a fitness centre. The space or infrastructure and equipment can be leased or bought. The space can be used for almost 16 hours a day as people like to walk into the fitness centre at various times during the day. The idea of opening a fitness centre is a business idea with low investment. Even if the person interested in opening this centre cannot afford it, he has multiple avenues at his disposal to avail of a small business loan. It is a very profitable business idea as subscribers of the fitness centre find it difficult to keep coming to the fitness centre regularly but most of them pay an annual subscription.