According to NASSCOM, there are over 7,200 startups in India; indicating that Indians have a strong entrepreneurial spirit. People are not willing to sit back and work for someone else anymore. They dream of running their own companies and being their boss. However, on the flip side, the reality is that 90% of Indian startups fail within the five first years. Maybe, the lesson here is that we ought to start small. If you were to do a quick search, you would find there are plenty of get-rich-quick schemes floating around but only a handful of legitimate small business ideas.
The paranoia of losing your hard-earned money and the fear of the unknown is enough to make someone sceptical of trying their hand at a small business. So, to help you weed out bad ideas from good ones, here are some small business ideas for beginners in 2019 to make it big:
6 Brilliant Small Business Ideas To Try In 2019
- Digital Marketing
This buzzword is a much sought-after profession. You could always start your firm or offer digital marketing as a consultancy service in the beginning. However, to get started in digital marketing, you need to have a solid understanding of how marketing and advertising works. If you do not have sufficient knowledge of these topics, consider enrolling yourself in online courses, several of which are available free of cost. It may even be helpful if you pursued a couple of internships first before jumping into the business side of things and starting your own organization.
- Local Bakery Franchise
There is nothing people love more than the smell of freshly baked bread and freshly brewed coffee. Although it is a relatively difficult skill to master, once you learn it, it is going to be easy to recoup the money that you invested. You can even bake homemade cakes or cookies and sell them to get started. However, if your idea of cooking is able to boil water, you might want to consider an alternative.
Several food franchise opportunities in India and coffee franchise in India cost less a few thousand rupees and go all the way up to a few crores. A franchise is suitable for beginners who want to foray into business without having to figure out how to make a profit or decide on the business model. Everything is neatly laid out for you to absorb, and you follow the best business practices to run the company.
What’s more, with a regular business, you may have to worry about acquiring customers and getting the word out there. This is not the case with a franchise. The franchise is already established, and you will have a customer base from day one. There are several options for those who want to get into bakery and desserts business; namely, Honey & Dough franchise opportunity, Mr. Crust Bakers franchise opportunity, Giani’s franchise opportunity, and Twisting Scoops franchise opportunity.
- Online Customer Service
Even though we live in a digital age, there are still tons of baby boomers who find it difficult to adjust and pay their bills online. All you need is a laptop and an internet connection, and you can set up a successful service. You can offer to book tickets, trips, hotels or even pay monthly utility bills on their behalf and charge a small commission in return. Since the investment required for this business is pretty low, you can make a profit right off the bat. This is especially an excellent idea for tier-II and tier-III cities.
- Private Tuition Center
Do you have a love for teaching? You can try your hand at becoming a private tutor. Indian private tuition market is growing at 35% and is estimated to be worth $25 billion by 2020. As long as there are children and schools, you will never run out of business. You can also look for jobs where you can go and teach at the children’s homes.
If teaching is not your calling, you can always hire teachers and work on a commission-based model by providing infrastructure. Home-based tuition centres require minimal investment. It would help if you found your first few students, and then let word of mouth does the rest of the promotions for you.
- Teach a Class or Host an Experience
Many popular lifestyle websites allow you to list yourself as a teacher or a host, helping you make a sizeable amount of money without investing much. You could offer a historical tour of the city, food tours of all the famous food stalls, or even take participants to a microbrewery. If you are good at something like yoga, martial arts, or cooking, you can offer to teach that too. Since you can decide the date and time, this is a pretty flexible way for you to earn money and learn how to start a business.
- Rent Out your Couch
Instead of renting out your house or room, you can always rent out your couch to college students who are passing by the city or people who are new to the city and need a place to crash. Again, this does not require you to invest any money at all, so virtually everything you make here is a profit, barring a few operational costs. You can then step it up and rent out a room or the whole place. Both ideas are effortless to implement, and all you require is a smartphone to operate.
So, there you have it! These six simple small business ideas are perfect for beginners who are planning to make it big. There are tons of other small business ideas that one can implement in 2019 but be wary of the cost of investment and the risks involved. These small business ideas are an excellent way to gain experience and earn a good chunk of money with minimal risks.
However, one of the surest ways to learn the tricks of the business with minimal risk is starting a franchise. If food isn’t your thing, there are plenty of franchise business opportunities in the beauty & wellness industry, automobile industry, healthcare industry, and retail industry. As long as you have a clear vision, investing in a franchise could be the best decision you make. To know more about how to select the best franchise in India, get in touch with us by filling the Investor Enquiry form.