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.
So, if you are young and dynamic individual and looking for profitable retail business ideas, here are 20 Retail Business Ideas and opportunities with low investment.
Also Read – 40 Small Business Ideas with low investment
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. This business can be started from home also.
- 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
Organic Food store is emerging business in India. Organic food means food grown naturally without any fertilizer and pesticides. The demand for these type of food is growing. If you can manage sourcing of organic food from farmers on regular basis you can start this business.
- 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
The automobile industry is booming and it will continue to boom. Thus starting an auto spare part retail store is a lucrative business option. If you are starting auto spare part store it is advisable to keep product range of branded and non-branded products in your store. A success rate of this business is high.
- 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 related items are widely used in school and in business. If you open stationary shop nearby school or business area, your chance of getting success in this business will be very high. It is moderate investment retail business. You do not require any special skill for opening this business.
- Cosmetic Store
As people are becoming beauty conscious the demand for beauty related product and cosmetic items are growing. These type of products are usually purchased by ladies. If you are women and looking for the retail business idea you can think of starting a cosmetic store.
- Leather Perfume Business
The next retail business idea is leather and perfume business. In this business, you can keep leather bags, travel bags, wallet, belt, perfumes and other gift items. A demand for these type of product is always there hence it is an evergreen business idea.
- 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
A Xerox shop with associated products like bookbinding, lamination and small stationary items is very good retail business option in India. This business can be started by any individual. The capital requirement of this business is very low.
- 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 Salon
A beauty salon is emerging business option in India. This type of business is usually preferred by ladies. This business demand special skills. Investment requirement of this business is low. You can start your own beauty salon or take franchise of well-known brand.
- 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
A medical diagnostic center is most popular retail business option. A growth of medical problem demands diagnostic and advance analysis. If you have skills and qualification you can think of starting own medical diagnostic center. This business required substantial investment.
- 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.
Also Read – 170 Small Business Ideas with low investment
- Photo Studio
Photo Studio or photography service is easy and evergreen retail business option. It is low investment business. A success of this business depends on business location, skill, and contacts.
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.