A retail business means selling product or services to the customer directly for earning a profit. A person running a retail business is called as a retailer. In India retail business is considered as one of the most profitable and lucrative business options. A few years back retail was considered as an unorganized sector, but due to the entry of big players and the start of shopping malls we have seen a lot of change in the retail industry.
In a retail business, you can start with a small shop and expand your business to setup retail chains. The key to success in retail business is quality of product, price, place and customer support. You can start a retail business even from home.
There are multiple types of retail business or retail stores. These businesses are classified based on size. The retail store types include –
- Small Retail Store
- Departmental Store
- Super Market
- Online Store
- Franchise Store
Based on your interest and availability of capital you can select a type of retail business.
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20 Retail Business Ideas with Low Investment
Food Related Retail Business Ideas
- Grocery Store
A Small Grocery Store is a profitable retail business option. Investment requirement for this business is moderate. You can start this store in any residential area. Grocery is an evergreen business option. You even don’t need any special skill for starting this business.
- Namkeen & Sweet Store
Another evergreen retail business idea is Namkeen Store. Namkeen & Sweets are an integral part of every celebration, be it marriage, New Year celebration or any other festival. If you are good at making namkeen you can start your own Namkeen Store.
- Ice Cream Store
Ice Cream store business along with associated products is a profitable business option in India. You need to select right location and the right product. You can even take franchisee of famous ice cream manufacturers. It is moderate investment business.
- Organic Food Store
A demand of organic food is growing all over. People are becoming health conscious and they are ready to spend money on organic foods. You can start your own organic food store where you can keep organic foods and other food items.
- Tea Store
Opening a Tea store is low investment low-profit retail business idea. Location and format of business play an important role in the success of this business. You can start this business on your own or even you can think of taking franchises of popular brands who are already in this business.
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Household and Other Products Retail Business
- Hardware Store
A small hardware store near residential or office area is another profitable retail business option. In a hardware store, you can keep a wide range of hardware and furniture related items. The investment requirement in this business is moderate.
- Auto Spare Part Store
Auto Spare Part Store is most profitable retail business idea. In auto spare part store you need to sell auto spare part in the retail store. Make sure to open auto spare part store in the middle of city or near garage. It is moderate investment business.
- IT Hardware Store
IT Hardware Store is next retail business idea. In this business, you need to sell IT Hardware items such as laptops, desktops, hard disks, mouse, speaker etc. The success of this business depends on demographic and demand.
- Customized Gift Shop
Customized Gift Shop is one of the highly successful business options in the city. Gifts are purchased on almost every occasions like birthdays, marriages, anniversaries etc. Nowadays people prefer personalized gift and experimental gifts. If you can offer these type of gifts with satisfactory buying experience you can become successful in this business very easily.
- Stationary & Book Shop
Stationary & Book Shop is education related business ideas. In this business, you need to start retail shop of stationary items and books nearby school or colleges. You can club xerox along with stationary store. You will need manpower for running this business. A profit margin in stationary business is low.
- Cosmetic Store
Cosmetic store is a place where cosmetic items and beauty products are sold. A demand of cosmetic items remains very high in the ladies. In your cosmetic store you can keep branded as well as non-branded products.
- Perfume Store
A perfume store is next in the list of retail business. In perfume store you need to keep various perfumes imported and local. You should open this store in center of city or in the shopping mall.
- Mobile Store
Mobile store is next lucrative retail business option. It is moderate investment business. A success of this business depends upon demographic and type of mobile sold by you. As it is dynamic industry it is advisable to avoid big investment at starting stage in this business.
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Service Related Retail Business Ideas
- Xerox Shop
Xerox Shop is small investment business option. You should open xerox shop nearby school, colleges or office area. Volume should be very high in order to earn high profit.
- Yoga or Fitness Studio
Health and wellness industry is growing at faster pace. People are becoming more health conscious. Thus starting a Yoga or Fitness Studio could be a profitable affair. A yoga studio can be started without any investment however fitness studio demand heavy investment.
- Beauty Parlor
Beauty Parlor is business option for ladies. Ladies are fond of beauty services. They spend lot of money on beauty treatment. If you have done beauty course you can plan to open beauty parlor.
- Courier Services
Indian parcel and courier industry is growing at the rate of 25%. If you want to take advantage of this emerging business you can start your own courier store. You have to be very good in providing customer service. If required you can take franchise of famous courier companies.
- Medical Diagnostic Store
Medical Diagnostic Store is lucrative business idea. In almost every medical problem doctor demands diagnostic report. If you are qualified professional you can start medical diagnostic store.
- Tour Travel Organizer
Tour Travel Organizer is one of the most profitable business options. In this business, you need to help the customer in organizing tours. In order to run this business, you have to be very good at knowing demographic and developing contacts.
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- Photo Studio
Photography is an art in itself. If you have high quality camera and skill for clicking various photos you can open your own photo studio. You can also accept contract for marriage and event photography.
Over to you –
I hope above retail business ideas will help you in starting your own business. The legal document requirement and capital requirement of each business mention are different. Even skill requirement differs in most of the cases. You have to carry out independent research before starting any business.
If you have any query about these businesses feel free to post it in the comment section. If you like this post, don’t forget to share it with your friends and relatives. For latest update please subscribe to my blog.