Business Ideas – Leaving a 9 to 5 job and starting your own business is a very good idea. No tension of boss. Freedom to set your own working hours. No limit on income. These are some lucrative benefits of starting your business.
There are many young and dynamic people who are keen to start their own businesses. However, due to a lack of money knowledge, they drop the idea of starting a business.
If you are one of them, this post is for you. In this post, I will solve both of these issues. I am going to share a list of business ideas that can be started with a small investment of 1 Lakh.
For better understanding, I have classified these business ideas into the following categories.
#1 Manufacturing business with low investment
#2 Food based business ideas with low investment
#3 Product based business ideas with low investment
#4 Service based business ideas with low investment
24 Business ideas in 2023 Small investment 1 Lakh
Manufacturing business with low investment
#1 Handmade candles
Handmade candle making is one of the best business ideas. Candles usually remain in demand starting from traditional to religious to decoration purposes during festivals. Candle-making can be starting from home.
You require raw materials such as wax, perfume, and string for making candles. You can initially start with a handmade candle. At a later stage, you can go for candle-making equipment.
#2 Incense sticks
Incense sticks are in demand in India as well as abroad. Incense sticks are used in religious activities and in meditation in many countries across the world. The incense sticks are easy to make. You will get an automatic or semi-automatic machine starting from Rs.75000. You require a small space to do manufacturing Incense sticks.
#3 Face Mask
The face mask is in huge demand and likely to remain in demand. Face masks are of multiple types such as cloth masks, surgical masks, and N95 respirators.
You can start a cloth mask and surgical mask business with a low investment of less than 1 Lakh. Surgical face masks are made using non-woven fabrics and plastic material two or three layers. You can opt for handmade face masks or purchase machinery for bulk face mask manufacturing. You will at least need a face mask machine and mask inner loop welding machine to start with.
#4 Shop & Sanitizer Dispenser Manufacturing
The usage of Sanitizer is growing. Good sanitizer is required almost everywhere. Here you have two different business options. You can go for manufacturing of sanitizer or you can manufacture sanitizer dispenser.
The raw material required for making sanitizer is glycerin, alcohol, isopropyl, and chemical. You require a deep understanding of sanitizer making before starting a business. Another alternative is starting a business of sanitizer dispensers. You need to invest money in buying a sanitizer dispenser manufacturing machine. You also need a small space for starting this business.
#5 Handmade Chocolates
Chocolates are mood changer and usually remains in demand. It is easy to make chocolate at home. You require raw materials such as sugar, chocolate cream, and packaging material to make chocolate. The business of making handmade chocolate can be started with a low investment of Rs.40000 to Rs.50000. This business holds a good range of success rate and profit.
#6 Disposable plates and cups
Disposable plates and cups are used in almost every event, picnic, and function. As disposable plates and cups are inexpensive and easily available it is also used by street vendors and hawkers. This means disposal plates and cup making is an evergreen business option. You require an approximate investment of Rs.60000 to start this business.
Food-based business ideas with low investment
#7 Pickles making
Handmade pickle is first on the list of food-based business ideas with low investment. It is a traditional business option, especially for women. Pickle is famous in India as well as abroad. Pickle-making can be started from home also. There is a variety of options to make pickles. You require a small investment of Rs.25000 to start this business.
#8 Sweet and Snacks
Sweet and Snacks making are one of my favorite business ideas. You require to be an expert in making sweets and snacks. You can also recruit manpower that will help in making sweets and snacks. The investment required for starting this business is approximately Rs.50000 to Rs.75000. You require a small shop to start this business.
#9 Home-Made Nasta
Many people prefer homemade nasta (breakfast). Thus starting a homemade nasta business could be a very good business option. You can start this business from home. Investment required for this business is in the range of Rs.25000 to Rs.50000. You can keep home delivery or hire a place where you can make Nasta.
#10 Tiffin Service
Tiffin service is an evergreen business idea for food lovers. These services are generally required by paying guests and office people. If you are a good cook who can prepare healthy and tasty food in the economic range this business is for you. This business can be started from home or from a small shop. You need to invest roughly Rs.40000 to start tiffin services.
#11 Food Truck
Food Truck is next on the list of business ideas with low investment. In this business, you require an old truck or tempo which can be converted to a food truck. This idea is gradually becoming popular in India. You require a good cook for making food. You can start with snacks and fast food. Once your truck is popular you can add multiple other food products.
#12 Tea or Fruit juice kiosk
A tea stall or fruit juice kiosk is next on the list. You require to invest approximately Rs.15000 to start a tea or fruit juice kiosk. You require a suitable place preferably a nearby office area to open a tea or fruit juice kiosk. It is a very good business idea with a small investment.
Product-based business ideas with low investment
#13 Computer Hardware Shop
Computer hardware shop is the first product-based business idea. Computers, laptops, and peripherals are in huge demand. You can start this business from home or you can take a small shop to start this business. You need to find out customers for the computer and IT related products. The investment required for this business is 1 lakh to 1.5 Lahks.
#14 Garment business
Cloths the basic requirement of human beings has become a style statement. People prefer stylish clothes to wear. If you have the expertise you can buy cloth at a lower cost and sell it at a higher price. Garment business can be started from home or from a small shop. You can start this business from Rs.50000.
#15 Newspaper agency
A newspaper agency or newspaper distribution is a good business option due to the higher commission margin. The commission payout takes place quickly. As a newspaper agent, you need to collect newspapers from the depot early in the morning and carry out the distribution. You require distribution boys and transportation arrangements for the same.
#16 Flower shop
Opening a flower shop is one of the very good business options in India. Flowers are used for giving gifts and for religious purposes. Flowers are also used in festivals for decoration purposes. You can either involve yourself in buying and selling flowers or you can produce flower at the farm and sell it to the customer with a higher profit margin.
Service-based business ideas with low investment
#17 Business Plan Writing Services
Business plan writing services refer to professional services offered by experienced consultants or experts who assist entrepreneurs and business owners in creating comprehensive business plans. These services are designed to help individuals or businesses develop a well-structured and detailed roadmap for their ventures, outlining their goals, strategies, and financial projections. Here is affordable business plan writing services Penfellow that you can explore for business plan writing.
#18 Pest Control Services
Pest control services is one of the most popular service-based business ideas. In this business, you need to take an annual contract for pest control services. You need to employ manpower who will do pest control services on-site. The investment required for this business is Rs.30000 to Rs.80000.
#19 Real Estate Brokerage Services
Real estate brokerage service is a low-investment business. You require a small shop for starting this business which can be taken on rent. This business can also be started from home. You need to help customers in buying, selling, or renting property. The earning would be a commission on the transaction.
#20 Tuition and Hobby Class
You can also start tuition or hobby class. Tuition classes or hobby classes can be started from home. You just need a blackboard and a few students to start the tuition classe. You require knowledge of various subjects for starting tuition. The alternative is starting a hobby class such as a drawing class, dance class, or music class.
#21 Job Consultant Services
Good job consultant is in huge demand. As a job consultant, you need to help candidates in finding jobs. You require good contact with various employers looking for candidates. You will get a commission from the employer as well as the job candidate. The investment required for this business is in the range of Rs.40000 to 1 Lakh.
#22 Interior Decorator
Interior Decorator is a responsible person for reusing and beautifying space. If you have completed a civil-related course or an architecture course you can become an interior decorator. Initially, you need to work hard to find out customers. Once established you can earn a lot of money as an interior decorator.
#23 Insurance Agency
Insurance Agency is one of the best low-investment ideas with a 1 Lakh investment. In this business, you need to take an insurance agency of insurance company and sell insurance products such as general insurance, life insurance, etc. You can earn every good commission on insurance policies.
#24 MLM Network Marketing
MLM Network Marketing is one of the best small business ideas that can be started anytime with very less investment. You need to be good at networking and convincing people and marketing your product in order to make money from this business.
Over to you
I hope you find these 23 business ideas interesting. Share these business ideas with your friends and help them to start their own businesses.