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Top 20 Best Business Ideas for Beginners

Business Ideas for Beginners – Do you want to enter in the world of business for the first time? If yes, here is 20 Business Ideas for Beginners in India. Starting a business is very challenging for beginners. Beginners are not aware of legal, commercial, managerial and other aspects of the business. They always seek guidance from experts for a starting business.

Starting off business with low investment protects the beginners from major monetary risks. Here are 20 Top Best business ideas for beginners in India. These business ideas are easy to start and require low investment.

Business Ideas for Beginners

Top 20 Business Ideas for Beginners 

1. Advertising

A small digital marketing or advertisement agency requires a small setup and less investment. You can start it from home also. The main work of advertising agency is to create, plan and handle advertisement and promotional requirement of client. Agency needs to arrange placement for the advertisement on a commission basis. Advertisement agency is one of the best business ideas for the beginners in India.

2. Courier or Delivery Services

Courier or Delivery service is next business idea for the beginners. The task of courier company is to deliver things on time at the different destination. This business idea requires investment in a range of 1 Lakh to 5 Lakh. You can tie up with reputed courier company to start with.

3. Home Cleaning

Home cleaning is considered as one of the easy business ideas for the beginner. In this business idea, you need to take a contract of house cleaning and arrange manpower for the same. This idea requires a skill for people management.

4. Blogging

Blogging is part time easy to implement low investment business idea for the beginner. You just need to have technical knowledge and skill to express yourself. You can earn a lot of money by direct advertisement from your blog.

5. Photography

If you are good at taking photographs this business could for you. You just need a good camera and few contacts in order to start this business. A success of this business depends on your capability and creativity to deliver the desired result.

Also Read – 20 Profitable Small Business Industries Ideas

6. Tuition Class

Tuition class is next business idea for the beginners. This business can be started from home with minimum or no investment. You should be very good at teaching and learning in order to start your own tuition class.

7. Freelancer

A freelancer is a person that bids for the project and complete it within given timeline for money. Freelancer usually accepts project related to Information technology and work online. They get work from a various site offering freelance work.

8. Child Care services

The next business idea for the beginners is child care services. In a metro city, this types of services are always in demand. You need proper place and toys in order to start this business. It is one of the best business ideas for the beginners.

9. Errand Services

You can also start a business that offers various errand services like paying a bill, picking up dry cleaning or groceries etc. In today’s busy life people need manpower for these type of errand services. In this business remote working is possible.

10. Hobby Class

Your hobby can turn out to be a good business option for you. You can think of starting your own hobby class. You might need to recruit people from a different area like stitching, drawing, sports etc. before starting this business.

Also Read – 20 small manufacturing business ideas with low cost 

11. Affiliate marketing

Affiliate marketing is an online business idea for the beginners. This idea does not require much investment. In this idea, you need to become an affiliate partner of an online company like flipkart, amazon and help them to sell their product. You will get commission based on the sale of products.

12. Youtube Channel Partner

If you are from IT background and creative in nature youtube channel partner business could be for you. In this business, you need to make your youtube channel and upload an original video on that. You will be paid for advertisement as per channel partner program.

13. Translation Services

The next business idea for the beginner is translation services. If you know multiple languages this business is for you. You need a small place and few clients in order to start this business.

14. Accountancy Services

If you’re trained as an accountant, you can build up your own base of business or individual customers and build your own accounting business.

15. Event Planning & Management

Event planning & management is next business idea. If you have some strong organizational and communication skills, you can build up a client base and start a business planning weddings or various other events.

Also Read – 15 Best Home Based Business Ideas for Housewives & Moms 

16. Real Estate Agency

The next business idea for the beginner is real estate agency. In order to start this business, you need contact detail of prospective buyer and seller. It is low investment business can be started from home.

17. Recruitment Services

Recruitment service is next business idea. In this business, you need to help the job seeker to find out a job. As a commission job seeker will pay one-month salary or predefined fees.

18. Yoga Center

You can become a certified yoga teacher and start your own Yoga Center. In today’s stressful life people are ready to pay money for health and relaxation.

19. Catering Business

Providing food and Catering services is another business idea for the beginner. You need to be good at planning and managing people in order to start this business. This business requires capital investment in the range of 1 Lakh to 10 Lakh.

20. Home Made Food Business

If you are good at cooking food you can start your own home made food business. This can be either tiffin service or snacks. You can either deliver it at customer door step or can open your own home made food center.

Well, before selecting best business ideas from above, you should answer following questions that will help you in the selection of best business ideas.

FAQs

What is your level of readiness?

The first thing you need to check is a type of business and level of readiness to execute the idea. Consider following key aspects to check your readiness.

  • Investment required for the business
  • Skill set for starting and managing business
  • Business challenge you are likely to face in future
  • Your risk taking capacity
  • Manpower required for the business

How much capital do you have?

The second thing is how much capital do you have for investment and how much you can arrange? This will help in backing up your business idea. If business idea selected by you require more capital and you don’t have provision for capital you either need to arrange capital or select another idea.

How strong is your business team?

The competence of your team will also matter to the success of the business. It is easy to raise the capital if your team has experience and skills. If you don’t have a team you need to select an appropriate business idea that does not require manpower.

How do I choose the right business idea?

Choosing the right business idea requires a blend of passion, market demand, and personal skills. Conduct thorough research, assess your strengths, and evaluate market trends to find the perfect fit for your entrepreneurial journey.

What are some common pitfalls to avoid in business?

Common pitfalls in business include inadequate market research, underestimating expenses, and neglecting to establish a solid business plan. Additionally, lack of scalability, poor financial management, and ignoring customer feedback can hinder business growth.

How do I market my business effectively?

Effective marketing entails understanding your target audience, crafting compelling messaging, and utilizing diverse marketing channels. From social media marketing to email campaigns, tailor your strategies to resonate with your audience and drive engagement.

Is it necessary to have prior experience in the chosen field?

While prior experience can provide valuable insights and skills, it’s not always necessary to succeed in a chosen field. Passion, willingness to learn, and dedication can compensate for lack of experience, allowing you to thrive and innovate in your entrepreneurial journey.

How can I stay motivated?

Staying motivated as an entrepreneur requires setting clear goals, celebrating small victories, and surrounding yourself with a supportive network. Embrace challenges as opportunities for growth, and maintain a positive mindset even in the face of setbacks.

I hope the information given above on 20 business ideas for the beginners will help you in the selection of right business idea.

Paytm Digital Gold – How to Buy Sell Digital Gold?

digital gold

Digital Gold is an another way to hold gold in digital form. Digital Gold enables users to buy gold online with a click of a button. Digital Gold can be purchased from Paytm in India.

The first love of Indian is gold. Gold is precious, auspicious and purchased for every special occasion like marriage, festivals etc. Gold is also purchased as a part of an investment. Traditional ways of purchasing gold has a few hassles like –

  • Getting best price
  • Trusted Seller
  • Keeping it safe
  • Inconvenience of storing
  • Time and Efforts

If you want to avoid all these hassles you can select alternate investment option of physical gold. i.e Digital Gold.

What is Paytm Digital Gold?

Paytm Digital Gold is a name of service that enables customers to buy 24K 999.9 pure gold online. Paytm has partnered with internationally-accredited refinery MMTC PAMP in order to launch an online platform for digital gold. It provides two options to the customer. A customer can either store gold online or request purchased gold to be delivered to their homes in the form of minted gold coins.

Also Read – How to calculate Gold Ornament Price?

How to buy Digital Gold using Paytm?

There are two methods to buy a digital gold using Paytm. You can buy gold via Mobile app or online via website.

Buy Digital Gold via Paytm Mobile App –

  • Install Paytm App on your Mobile
  • Go to “Digital Gold” tab on Paytm
  • Select Buy Gold and choose the option to buy in grams or rupees
  • Fill the details and proceed to pay

Buy Digital Gold via Paytm Website –

  • Open Paytm Website and go to Gold tab.
  • Click on Buy in Rupees or Buy in Grams
  • Enter your name & delivery pin code.
  • Click on Proceed for payment

How to Sell Digital Gold using Paytm?

  • If a customer wants to sell the gold that he has purchased, he/ she can offer to sell the Gold accumulated on Paytm in either Rupees or Gram. For example, you can offer to sell either 0.1 gram or Re 1 and above
  • The customer’s Gold account holdings should be equal to or higher than the quantity you offer to sell. For this, the customer will be required to share your Bank account number and IFSC code to enable the sell transaction.
  • After paying the convenience fee, you will immediately see the amount credited to your bank account while the Gold balance in your Gold account will be debited.

Also Read – 5 Signs for checking purity of Gold

What is Gold Accumulation Plan in Paytm?

  • Gold Accumulation plan of Paytm is a unique plan that allows you to accumulate gold using your Paytm account with a low value such Rs.1.
  • Gold Accumulation plan also allows to buy & sell gold in a fraction like 0.1 gm etc.
  • This facility is available round the clock, including public and bank holidays.

How to Withdraw Gold from Paytm?

Withdrawal of Gold from Paytem wallet means converting digital gold in physical gold. It is as good as buying a physical gold from the market. The step given below will help you to withdraw Gold from Paytm.

  • You need to give request online for the withdrawal of gold. This request shall be between 1 gm or in multiple of 1 gm.
  • You will have various options of coins on Paytm site for selection.
  • Each coin will have different making charge. It will depend on design and weight of the coin.
  • If you are withdrawing gold you need to pay extra making and delivery charges.
  • You will get physical delivery of gold coins at your door step. You will also get confirmation on your Paytm registered mobile number.

Should you invest in Paytm Digital Gold?

Gold a yellow shining metal is most preferred investment option for many people. Paytm Digital Gold is a boon for many people as it allows them to buy a gold in lowest proportion starting from Rs.1. However, before investing in Paytm Digital Gold you should take a note of following points.

  • You need to make a transaction of buy or sell using Paytm account at least once in 6 months else your account will be marked as inactive.
  • A maximum tenure of your Paytm account is 5 years. So, if you are planning to hold gold above 5 years Paytm Digital gold may not be suitable for you.
  • Buy and sell is not possible on the same day.
  • No nomination facility is given in the account. In case primary account holder dies legal process is required in order to claim gold.
  • Digital Gold of Paytm does not provide a facility of SIP.
  • Delivery of gold can take place only on few locations in India. There may be additional delivery charges and making charges while taking delivery of gold.

Above loop holes make Paytm Digital Gold less attractive option for investment. If you are planning to invest in gold I recommend to go for Gold ETF.

What are your views on Digital Gold? Do share it in the comment section.

Basant Maheshwari Investment Strategy & Advice

Basant Maheshwari is one of the popular stock pickers of India. He is a founder of theequitydesk.com and writer of book “The thoughtful Investor”. Basant Maheshwari is a commerce graduate from St Xavier’s College Kolkata and is also a Cost Accountant. He is a master in identifying multi-bagger stocks. Pantaloon Retail, TV18, Titan, Page Industries and Hawkins Cooker are multi-bagger stocks identified by him.

Basant Maheshwari follows simple strategy for investment. He invests in market leaders that pay dividend at regular intervals gives a substantial return on equity and have high sales growth. He never goes for hunting of hidden gems. He invests in a stock that is already on a winning track. In this post, I will share Basant Maheshwari Stocks and Investment Strategy.

Also Read – Dr Vijay Malik Success Story & Stock Portfolio

Basant Maheshwari Investment Strategy & Advice

Basant Maheshwari

Focus on a Big Money & not fast money

Basant says that one should focus on big money & not fast money. Zyaada Paisa banana Jaruri hai Jaldi banana jaruri nahi. He supports his argument by saying “Most people start buying shares thinking they will make Rs 2,000 or Rs 5,000 a day. But that cannot change your life. What can change your life is making Rs 2 crore or Rs 5 crore over many years”.

One should focus on the stock that has potential to make big money.

Stock market is not for regular income

As per Basant Maheshwari stock market is not for regular income. You can earn money from stock market but it will not help you in paying your utility bill or tuition fees. The stock market is for long term investment. The stock where you invested your money may not perform for several years.

Also Read – Rakesh Jhunjhunwala Story from 5K to $3.1 Billion

Invest enough money in equity

He advises investors to invest enough money in equities. Equity investment should make a difference in investors wealth. He also says one cannot create wealth by investing small amount Rs.50,000. However, before investing big money one should understand equity market thoroughly.

One cannot become rich by investing in Gold and FD

As per Basant “With markets falling, no one has become rich by buying gold, no one becomes rich by taking out bank FDs.” It is reverse once you become rich you buy gold and FD. The objective of Gold and FD is capital protection and not money generation.

He explains this by giving an example of HDFC. Investment in a Fixed deposit of HDFC can give 8% pre tax return. However, investment in HDFC stock can generate 16% CAGR return which is far better than fixed deposit.

Knowledge and Reading is must for Stock market

Basant Maheshwari gives a lot of stress to knowledge and reading while investing in the stock market. He explains this fact with a simple example. He says that for investing in Gold and FD we don’t require great knowledge and reading. However, for investing in the stock market we require knowledge and reading.

If you don’t know investing in equity market go for a mutual fund. It won’t pay off like individual stocks but it will still work out better than bank fixed deposits. Good mutual funds usually give a return in the range of 14-16%, which is still better than 8% return of fixed deposit.

I am 100% sure investment strategy and practical advice of the thoughtful investor Basant Maheshwari will help you in stock market investment. If you are planning to start a Journey to Financial Freedom Through Stock Market Investing, it is highly recommended to read his book “The Thoughtful Investor”.

11 Types of Mutual Funds in India

types of mutual funds

A first question when you decide to invest in the mutual fund is – How do I know which fund is right for me? Well, an answer to this question depends upon your investment objective, risk appetite, and investment horizon. There are multiple types of mutual funds catering to different needs of different investors. You should choose a fund suitable to your risk profile and objective. If you are confused in selecting right mutual funds you should consult a financial advisor before making an investment decision. Mutual funds are usually divided into two types (1) Growth (2) Dividend. However, based on investment method there are 11 Types of Mutual Funds in India.

11 Types of Mutual Funds in India

  1. Large Cap Funds

Large Cap Funds invests primarily in blue chip companies with large market capitalization. These types of mutual funds are suitable for low risk investors. Large Cap Mutual Funds generally gives returns in the range of 12-15%. Large Cap funds give better returns if market conditions are favorable.

  1. Mid-Small Cap Funds

Mid-Small Cap Funds invests in companies with medium or small market capitalization. These types of mutual funds are risky in nature. These funds invest in small and emerging with exceptionally high growth rate. Mid-Small Cap funds are for aggressive investors.

  1. Flexi Cap Funds

Flexi Cap Funds are also known as Multi Cap Funds. These types of funds invests in stocks across market capitalizations. i.e Large cap, Mid Cap and Small Cap. A scope of diversity is widen while investing in flexi cap funds.

Also Read – Dividend Mutual Funds Equity Scheme – Should You Invest?

  1. Diversified Funds

A diversified mutual funds invests in companies regardless of size and sector. A diversification across stock market help fund to maximize gains. These type of funds are for a moderate and conservative investor with a long term investment objective.

  1. Balance Funds

A Balance Fund tries to keep balance between equity and debt market. These types of funds enjoy presence of both the markets. The ratio of equity to debt depends on orientation of fund moderate, aggressive, or conservative. These types of mutual funds are largely suitable for investor with low risk appetite.

  1. Debt Fund

Debt fund as name suggest these types of funds invest their money in pure debt market and debt instruments. The expected returns from these funds are 7-9%. The debt funds are classified in liquid funds,ultra short-term debt funds, short-term debt funds, corporate bond funds, guilt funds to MIP’s respectively.

  1. Liquid Fund

Liquid funds invest in the instrument with maturity up to 91 days. These funds are least risky. Investors who want to invest lump sum amount should invest in these schemes and then go for an STP (Systematic Transfer Plan) in equity schemes to earn more interest. These funds can be easily redeemed any time. The return in this type of fund is low and not guaranteed. 

Read – Model Mutual Fund Portfolio for 2018

  1. Asset Allocation Funds

Asset allocation funds are balance fund with additional cash component. This means Asset Allocation Funds invest in three asset classes equity, debt and cash. Investor looking for asset allocation mix can invest in this fund. This fund gives benefit of diversification to the investors.

  1. Sector Fund

Sector fund or sectorial fund invests in stocks from specific sector. An example could be real estate sector, telecom sector, banking sector etc. Investor bullish on specific sector can invest in these types of funds. However, sector funds are risky in nature.   

  1. Thematic Funds

Thematic funds are theme based fund. These mutual funds invest in multiple companies from different sector on basis of common theme. The theme could be infrastructure, oil and gas, steel, metal, pharma etc. These types of fund are risky in nature.

  1. Tax Saving funds

The next fund in list is tax saving fund. These types of funds are also called as ELSS (Equity Linked Saving Scheme). Money invested in this funds are exempted under section 80C. However, these funds  come with a lockin period

I hope the information given above will help you in the selection of right mutual funds for investment.