In the ever increasing startup ecosystem of today, everyone dreams of starting own business and become a successful entrepreneur. These businesses, if executed properly, can fetch them huge profits with least probability of failure. So today in this article, we are going to present to all our readers some great business ideas that one can reckon to start in a low budget range of INR 50,000 to INR 1,00,000 or US $800 to US $16,000.
These businesses can be started as part time business or can be started as a full time depending on your availability and can be operated in any part of the world. Though I am using INR and US dollar as the currency for the better understanding of the article.
Now let’s take a look at the list of business ideas that you can opt from if you have a low budget of around Rs 50k to Rs 1 lakh.
1. Flour Production
Budget Needed on a Monthly Basis-
- Wheat- Rs. 20- Rs. 50 per kg
- Labor- Rs. 8000 per month
- Grinding machine- Rs. 20,000
Flour production is a great business option for people with a budget of up to Rs. 1 lakh because it can easily break even after just a few months owing to the demand for flour. There are various types of flour available like wheat flour, corn flour, rice flour, sooji, gram flour and so on depending on the raw materials used.
Choose a convenient location to set up your flour shop. Procure wheat directly from farmers in a nearby farm that you can easily get for Rs. 20-Rs. 50 per kg. Buy required machinery and hire a helper to assist you in the wheat production for around 6-8k per month. Package them and sell them to end users at a competitive price than what is available in departmental stores. For 1 kg flour that is available in the market for Rs. 50- Rs 100, you can sell your product for Rs. 60-80/ kg. And you can easily earn huge profit margins.
2. Digital Marketing Agency
Budget Needed on a Monthly Basis-
- Content Writer- 20p-Re. 1 per word
- Designs and Creatives- Rs. 200 per creative/ Rs. 10,000-12,000 per month
- SEO- Rs. 15,000 per month onwards
- SMO- Rs. 12,000 per month onwards
A preferable business option is to start a Digital Marketing agency if you have a budget bracket of up to Rs. 1,00,000. Let us assume you can hire a small team of content writers, Social Media experts, and designers while you are adept in SEO. You can hire content writers at a starting rate of 20- 40 paisa per word and offer content writing services to clients for up to Rs. 1- Rs1.5 per word. Designers can be either hired at a fixed monthly rate of up to Rs. 15000 or you can pay them around Rs. 200- 300 per creative and sell these creatives to clients at Rs. 400- 600. SEO can be charged depending upon the difficulty level and competition in the market. For low keyword ranking, you can charge your clients Rs. 1500/ keyword and assure them results in a month’s time. For medium ranking keywords, you can charge them Rs. 5000/ keyword and for high ranking of keywords, you can charge them Rs. 10,000/ keyword or as per the difficulty of the keywords. You can also hire a social media executive at a starting rate of Rs. 12,000 per month.
With this pricing, you can easily make significant profit margins. You can also work on your portfolio to show results to your customer. Networking skills are a must have in this business that can promise you more clients. Also, it is important for you to understand your business technicality inside and out to be able to survive in the market.
3. Flipping Website
Budget Needed on a Monthly Basis-
- Buying a website- Rs. 15,000 per month onwards depending upon the popularity of the site
- Content writers- 10paisa -Re 1 per word
- Developer- Rs. 15,000 per month
Another new business option is to explore a range of websites that are performing decently well on Digital platform, but their owners are lacking some kind of expertise and efficiency. Consider for example a food blog. Let us say there are a decent number of quality posts on the blog and new posts are being posted periodically on the website. But the website is not getting any traffic due to SEO or codes issue because the owner doesn’t have much knowledge about all these. Also, the owner has invested around INR 10000 to INR 20000. So, you can approach such websites and buy them for a higher price, let us say, Rs. 50,000.
Once you have purchased that site, you can then hire a small team of content writers, designers, SEO experts and so on and work for the betterment of the site. Increase the post updates on the site 5 to 6 times, increase its page rank, domain authority, backlinks, subscribers, social followers and witness an increase in traffic inflow. After doing that sell those websites on 10 times of your buying rates.
4. Scrap Business
Budget Needed on a Monthly Basis-
- Buying scrap metal- Rs. 40,000
- Paint and accessories- Rs. 10,000
Scrap business is another lucrative business option that involves buying metal scraps like of iron, copper or any other metal in accordance with their weight. You can buy these scrap metals from various companies at a price of about Rs. 15/kg- Rs 50/ kg depending on metal. Then you can separate metals and sell them or you can mold them and make some valuable products and then sell them.Let us say you bought an old table for Rs. 200. Once it is bought, you can paint it, enhance its aesthetics and then sell it to a consumer at Rs. 3000. This way, you can earn significant profits.
In scrap business, you can do 1 more thing. You can sell old products/ second-hand products. Let us say you bought an old table for Rs. 500. Once it is bought, you can paint it, enhance its aesthetics and then sell it to a consumer at Rs. 3000. This way, you can earn significant profits.
5. Pet Groomer
Budget Needed on a Monthly Basis-
- Soap and shampoo- Rs. 5000
- Helper- Rs. 10,000 per month
- Advertisement- Rs. 10,000 per month
The need for pet grooming is no longer restricted to the western world and has slowly started to dominate a wider market. Owing to the presence of a large number of pets in increasing number of households, pet groomer is an upcoming venture that is being taken as a viable business option for many upcoming entrepreneurs.
In the beginning, you can consider approaching housing societies and contact their President to start pet grooming service within their premises. Modern townships these days offer pet wellness zone so you can utilize that space to start your services. Get into a deal with the residential society that all pets residing within it will be groomed by you. You can charge a nominal fee of Rs. 500/ month/ pet from each household to groom their pets. By doing so you can earn huge profits.
6. Event Organizer
Budget Needed on a Monthly Basis-
- Studio Rent- Rs. 20,000 per month (if needed)
- Labor- Rs. 10,000 per month per labor
- Website- Rs. 10,000
- Social Media Promotions-Rs. 20,000 per month
In the category of Rs 5000 to Rs 100000, this is also a smart and low investment business option with significant profit margins guaranteed, with the right choice of connections and a good network of vendors. The best part with this kind of business is that it allows you to expand in many directions giving your more and more growth prospects with profit margins as high as 40%.
Figure out what niche you plan on targeting in event organizing, like wedding planning, corporate events, themed parties and so. Focus on that one niche in the beginning, instead of having too much on your plate. Develop a strong and robust network of vendors like florists, photographers, caterers, hotel owners, invitation card designers and so on. For every deal you crack, you can earn a 10-15% commission from each vendor, in addition to a hefty lump sum amount from the client for taking up an entire project. You would also need a manpower of 3 or 4 people, in the beginning, to assist you in various activities. Create a strong portfolio and promote your business on Social Media. Post pictures of an actual event organized by you along with customer comments to increase credibility.
7. Creche
Budget Needed on a Monthly Basis-
- Outdoor play equipment- Rs. 30,000-Rs.40,000
- Toys- Rs. 10,000
- Advertisement- Rs. 20,000 per month
- Child Caretaker- Rs. 10,000 per month
- Food items- Rs. 20,000 per month
In an urban setup, more and more parents in the cities are looking for reliable crèche services to take care of their kids while they are away at work, And so, for this reason, crèche services is an excellent business option for upcoming business enthusiasts.
To begin with, you can start a small crèche right from your home. Buy recreational toys, outdoor play equipment like mini pool, swings, and slides to encourage kids to play outside. Encourage word of mouth advertisement and you can set up prices on a per hour basis for kids. In order to take care of each child for a duration of 5-6 hours per day, you can charge Rs. 500 to Rs 1000/ month from the parents. So, this way, you can operate your crèche during the day time, allowing you to devote your latter part of the day for other activities.
8. Clothes Designing
Budget Needed on a Monthly Basis-
- Machinery- Rs. 10,000- Rs 20000
- Fabric- Rs. 20,000
- Sequins and embellishment- Rs. 10,000
- Model Photoshoots- Rs. 5,000 per shoot
- Offline Promotions- Rs. 20,000 per exhibition
- Online Promotions- Rs. 10,000 per month
For people with strong sense of fashion and a sharp business acumen, opting to start a fashion designing business is a great business idea. You can buy different kinds of fabric like silk, cotton, chiffon etc. in wholesale. Create a label that reflects your designs and features your brand name on every label on the outfit to build brand recognition.
One way to advertise your work is to create few samples of your design and then promote them with the help of friends at various occasions. This will also help you to understand if your designs are marketable or not. Take part in various fashion exhibitions in your city and display your collection at your stall.
9. Old Book Business
Budget Needed on a Monthly Basis-
- 200 books- Rs. 50,000 (Old books- Rs 250 each)
- Binding and Cover- Rs. 5,000
Starting a business of buying and selling old books is a practice that has been practiced for a very long time and has turned into a viable business option. This is especially popular in areas close to colleges and universities(as book changes in every 6 months) and target students who cannot spend a large amount of money every time to buy new books.
Let us suppose you start your books selling and buying business from your home with a decent collection of old academic books. You can buy around 200 books for Rs. 50,000. Additional charges of binding and cover would be around Rs. 5,000. Now you sell this book to a student for Rs. 300. You earned a total of Rs 60,000 i.e. a profit of Rs 5k.
Don’t be sad for so low profit. Wait for next semester. Next year is a real excitement. Let see how?
In next semester, students will return you the books and takes back Rs. 150 from you i.e you bought 200 books only in Rs 30,000 this time instead of Rs 50,000. Again invest Rs 5000 on binding and cover and again sell them in Rs 300/ each. So by doing so, you made a profit of Rs 25,000 this time. You may sell more books to make more profits. If you have a large budget then you can do this business as an online business also.
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