All businesses are unique. Each one involves a core idea incepted by its founders, and is scaled to become a success. Although every business requires hard work, it is also the idea that matters. The world is changing at a rapid pace and several new business opportunities keep arriving.
2019, as a year has already seen several advancements and developments in the internet space. With the rise of regional language apps, and the temporary ban on TikTok, this year has already witnessed a lot.
With the advent of the new financial year 2019-2020, let’s discuss some new business ideas that require less investment and can prove to be beneficial in today’s time.
Cosmetics & Skincare Products
The beauty industry has grown at an unbelievable pace. According to statistics, the Indian beauty industry is growing at 13-18 percent per annum, a rate higher than the US or European markets. It is expected that the Indian beauty market will become a $20 Billion market by the year 2025. This market is one that you can tap into.
Indian users have become more open to trying out new skincare and beauty products than ever. This is an opportunity that can definitely be tapped into. There are several niches in which you can launch your own cosmetics range, or go for skincare or bath range as well. The opportunities are endless. You can go for a third party manufacturer, who will manufacture the products and you can market in your own brand name and sell. You won’t have to setup a manufacturing unit of your own, thus there will be very less investment involved.
New lotions, gels, skincare products, beauty products are entering the Indian market rapidly and are achieving success. You just have to choose your niche and go for it.
Nutritionist & Diet Coach
With the increase in purchasing power, comes the more frequent eating out habits. With that, several people have gained weight and it has become tough for them to stay fit. Here comes the role of a nutritionist or diet coach. Yes, this business requires specific skills that you can acquire by doing a course. Many institutes and colleges are providing courses to become a nutritionist. This will help you get the skills to become one, and thus improve your chances to excel online. However, you shouldn’t try to become a diet coach without acquiring a degree, or a certificate to practice the same.
Ecommerce Management Company
Most of the brick and mortar businesses are now selling their products online. These businessmen have several other tasks to take care of. Thus, you can start a business of managing their E-commerce channel partnerships. From uploading and updating product inventory, to promotion, to managing other technical aspects such as product descriptions, product photography etc; you can manage all of this for them. All they would have to do is manage their own line of work, which is packing and dispatching the products from their warehouse. Under this, all you have to do is setup a team of internet savvy people, look for some clients, and kick start your operations. You can keep scaling your business and keep adding new clients.
Virtual Assistant Services Company
Hundreds of Thousands of entrepreneurs, senior managers, businessmen all over the world cannot find time in their schedules to manage tasks that are not under their core competencies. These people look for virtual assistants online who can work on per hour basis to accomplish these tasks for them. This business does sound like it is not that high paying, however it can be if you find work on freelance websites such as upwork or remote jobs. You will find clients from all over the world, including USA, Canada, Australia and other countries where the currency value is higher and they will pay on hourly basis for your work. This can also be done part-time. You can scale the number of clients that you have and hire a team to accomplish all the projects.
Home Cooked Meal or Tiffin Services Business
With the advent of abundant food delivery apps, it has become feasible to start a low-cost food business. Find out if the area you reside in, has a good scope for a tiffin provider or not. If there are many people who look for home cooked food on a regular basis, you can start a tiffin services business. You can even start it from your kitchen, by yourself or just hire 1 cook to start with. Start taking orders online, or through pamphlets, newspaper inserts etc. Once your orders grow, you can scale your operations simultaneously. Just take care of the food quality, and don’t forget to procure a FSSAI license for small businesses, so that your business doesn’t land into any trouble.
Online Custom Tailoring Business
People have become more fashion conscious than ever! Several new brands have come up with their clothing lines, however nothing can beat the satisfaction and fit that custom tailored clothes can provide. As is the case with the Tiffin Services business, you can hire a small team to start with, create some initial pieces and put them up online. If it works out for you, and people start liking your designs, you can scale up your team and operations accordingly. You can provide custom fittings, designs & alterations to your customers so that they stick around and buy more from you.
India’s internet user growth is tremendous. According to some statistics, India added 10 Million new active internet users every month from India in the year 2018. Also, 9 out of 10 new users prefer to interact in their regional languages on the internet. Youtube has more than 225 Mn active users from India. A major chunk of India’s internet users are watching video platforms such as Youtube, TikTok, Vigo Video, Facebook etc. The best part is, you can contribute your videos in your regional language, be it Hindi, Malayalam, Telugu, Tamil, Punjabi, Bengali and what not. If you have a certain skill like painting, DIY, cooking, Makeup, Fashion, technology, you can start doing tutorials. If you think you are good at humor, you can start a humor channel, and in fact, Vlogging is also very popular on Youtube. you can just pick up a camera and show around in your city, your home and your everyday life. People on the internet are now seeking to stay connected more than anything else. There is absolutely no entry barrier, and no special requirement to start a Youtube channel. You just need a phone camera and working internet.
Here were some business ideas that require low or no investment which you can start this year. If you have an idea, and are not being able to figure out how to market your business, you can get in touch with us right away!