Top-10 Best Business Ideas In Hyderabad

Business Ideas In Hyderabad

Hyderabad is one of the oldest cities in India. It reflects ancient Indian culture with its beautiful architecture. At the same time, it is also one of the most developed cities in the country. This south Indian city is a mix of modern and ancient elements. Hyderabad, the capital of Telangana, has a wide variety of economic activities. This ensures businesses in Hyderabad flourish and are profitable. Here are the top 10 Business Ideas In Hyderabad you can consider if you wish to establish a venture:

1. Book Store

Hyderabad is home to many colleges and universities. These are some of the best institutes in the country. Naturally, the youth in this city loves to read. Hence, a bookstore can be highly profitable. Even though books are available online and digitally, many people prefer reading from paperback books. You can start your bookstore even with a small collection of books. The concept of “book cafe” is trending, where people can read and eat on the premises. Another great way to promote your bookstore is through activities like book exchanges, book clubs, etc. You can explore such options and open a unique bookstore in Hyderabad.

2. Homestay services

Hyderabad is a popular tourist destination in India. Many people visit the city for its rich culture, ancient architecture, and food. To gain a more in-depth experience of the city, many travellers prefer to stay with locals during their visit. This helps them explore the culture better and learn more about the local people. So if you have a spare room/house in Hyderabad, you can list it on popular travel websites like Airbnb, Booking.com, Make My Trip, etc., and start a homestay business in Hyderabad. You can set the prices according to your preferences. You can even provide additional services like local food, authentic decor, etc., to make your homestay a more lucrative option. Homestay services are also a great option for those who want a side income.

3. Tour Guide

As Hyderabad is famous for its Golkonda fort, Falaknuma Palace, Charminar, and biryani, every tourist wants to visit the popular places. One of the best ways of sightseeing is with a well-versed tour guide. If you are a local and know the city well, you can start a business in Hyderabad as a tour guide. Many people love to go on walking tours, food tours, even bicycle tours! You can customise these tours and run a successful business while enjoying strolling around the city.

4. Home Kitchen

Many tourists look forward to eating at authentic local homes instead of 5-star restaurants. Hence, a home kitchen can be one of the low-investment business ideas. You can finalise the menu based on your expertise. Many food aggregator apps take care of listing, delivery, and other aspects, so you do not have to worry about those in the initial stages.

5. Event Planning

Hyderabad is a popular destination for weddings, corporate events, and other celebrations. Many festivals are also celebrated widely in the city. An event planner is always in demand for such events. As an event planner, your job will be to look after all the arrangements for an event. For example, if you are planning a corporate event, you will have to manage food, guest arrivals, venue, drinks, hosting, decoration, technical support, gifts/awards, etc. People prefer to hire an event planner, as it ensures everything is taken care of by professionals. You can start your business in Hyderabad by hosting small parties and events and posting about it on social media. You can even pitch to corporates via emails and promote your services.

6. Vehicle Rental

If you have a spare vehicle that is not used often, you can earn money by renting it. People prefer to rent vehicles for their daily commute instead of buying a vehicle. This can be a great source of passive income. Once you list your vehicle, you will not need to do much, unlike other businesses. You can start by listing your vehicle on apps like Uber, Ola, etc., or hire a driver and rent your car to others personally. Over time, you can expand this business by adding more vehicles and getting more customers.

Also read: Manufacturing Companies in Hyderabad

7. Jewellery Store

Jewellery stores can be found all around India and are one of the most popular business ideas. To start a jewellery business, you need to research the process of making it, procuring raw materials, testing its durability, etc. Once you are familiar with the process, you can start a business. You can run your store entirely online if you have space constraints. Hyderabad is very popular for its pearls and is also rightly called the “City of Pearls”. So you should look into designing a collection with pearls. One of the bestselling varieties of pearls in Hyderabad is the “rice-pearl”. They have a unique shape, and people from all over the world visit Hyderabad just to buy them. So a business in pearl jewellery in Hyderabad is bound to be a big hit.

8. Plant Nursery

Plants are a great home decor option. In almost every household today, you will find at least one or two plants. A plant nursery can be a very profitable business. However, you will need to develop some expertise in growing plants, maintaining them, etc. It will also require dedicated space. While the investments in a plant business can be moderately heavy, they will provide good returns and a great profit margin.

9. Handicrafts and Souvenir store

Handicrafts are a commonly chosen gift and souvenir option. So if you have a knack for creating detailed handicraft pieces, this is one of the best business ideas. Centuries-old crafts, such as Bidriware (a craft of metal painting), pearl handicrafts, wooden toys, are famous in Hyderabad. If you are not good at making them, you can still start a business by creating a platform and marketing them. You can procure the items from local artisans and sell them to your audience. This creates opportunities for local artisans and is a profitable local business idea. If you are skilled at marketing and advertising, you can start this business.

10. Location Independent Businesses

While Hyderabad is a modern city with great resources, you may find it difficult to start your venture due to location problems. But your location should never stop you from achieving your ambitions. Today, businesses can be built online, and the location is not a barrier anymore. Some of the location independent ideas are social media businesses, website designing, graphic designing, blogging, etc.

Conclusion

Starting a business can seem intimidating, but your effort will pay off if you put in the hard work. There are many low investment small business ideas in Hyderabad that are great for beginners and people with a low appetite for risk. These were some of the best business ideas in Hyderabad, and you can explore many other options if these do not suit you. Don’t hesitate to start your local business in Hyderabad today!

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Also Read:

1) Top 30 Small Business Ideas For Beginners In 2021
2) What Are Business Ideas With Capital 15 Lakhs?
3) Top 20 Small Business Ideas In 2021
4) What Are Some Business Ideas for College Students?
5) OkCredit: Simple, Paperless & Secure solution for businesses

Stay updated with new business ideas & business tips with OkCredit blogs in English, Hindi, Malayalam, Marathi & more!
Download OkCredit now & get rid of your bookkeeping hassles.
OkCredit is 100% Made in India.

FAQs

Q. How do I market my business?

Ans. Marketing your business has never been easier. You can use social media platforms to market your business. You can also approach people through emails and pitch individually.

Q. Where can I find local artisans to start a handicraft business?

Ans. You can find many of them in the city’s hubs. Before finalising your product, you must test different samples from different vendors to pick the ones offering the best quality.

Q. How should I sustain my business in the long term?

Ans. The key to sustaining a business is to evolve continually. You can establish a great business, but to sustain it, you will need to improve consistently. Take feedback from your customers and assess the market and your competitors to learn and evolve.

Q. What precautions can I take for vehicle rentals?

Ans. While vehicle rental is a safe option, you can opt for vehicle insurance to protect your vehicle.