Which Kind of Small Business Can I Start in Bhopal?

When it comes to starting something new, there are always hesitations, dilemmas, and doubts about what should be done and how. One goes through their own research but still readily takes advice, which, instead of resolving the issues, leads to further confusion. Concerns are even higher if the contemplating question is regarding the kind of small business you should start in Bhopal. The business domain may be an easy one to start but is one of the most difficult to sustain. But we have got you covered and researched enough so that you don't have to. Here is a list of small business ideas in Bhopal that can give you good returns in the long term with decent investment.

1. Social Media Services

As the digital space continues its dominance over other mediums, it has become imperative for brands to increase their online presence online. And, to achieve the same many companies outsource the task of managing their social media accounts. In Bhopal, the case remains the same, and if you have the potential, plan and resources, this could well be the venture to start. In the beginning, all you need is a fast internet connection, a good idea of Search Engine Optimisation (SEO), and a team of 2-3 people. A meagre amount of investment would be required, and good chunks of profit can be made even in the short run. It all depends on the way you promote and market your services to get orders from interested firms.

2. Used Car Dealership

Traditionally, this has been a successful small business idea in Bhopal. Usually, before purchasing a new car, people prefer to learn driving with a 2nd hand vehicle, which helps them grasp the basic concepts of moving and becoming aware of the road. You can take a dealership of used cars and, with a little initial investment for storage spaces and additional purchases, materialize the idea. Specifically, for this, market research is significant. Search about the car brands in demand and the ones that people like to purchase more like a spare vehicle because of their durability. Government permissions and brand authorization are essential elements of a used car dealership business.

3. Food Café or Street Food Business

Food is a profitable business across India, and in the Hindi heartland of Madhya Pradesh, it is an even better opportunity. There are a couple of options to go within this regard. You can open a café or a themed food stall of Bhopal's favourite food items, like Poha-Jalebi, Achar Gosht, Keema Pulaav, etc., or you can go with the second option of bringing new tastes to the table. Again, market research is required to finalise the type of setup you would prefer. If there are plenty of cafes, opening a street food kitchen or stall is preferable; otherwise, a café is a better plan for it allows more options to pursue and ease for interior themes. In the beginning, 2 or 3 chefs, a limited food menu, and upfront discounts are enough. The possibilities of expanding a small business of food are high, and investors can be found soon.

4. Sports Coaching

Thousands of children join coaching for some sport in Bhopal every year. In particular, Cricket coaching has off late become a properly commercialised business. You can start a small coaching centre with any sport you have a good idea about. The financial requirement may be high initially, but the revenue would also be reasonable, given that you have quality coaches with exciting visions of teaching. It is one of those small business ideas that can give good returns even in the short run because of the rising number of aspirants in various sports. However, it does come with some riders as well. A sports academy's operating expenses are relatively high, for example, the cost of night lights, land, protective equipment, etc.

5. Tourist Guides or Tourist Services

Indian culture has been an attraction for several years, and Bhopal is no different. Assisting tourists with guides is a potentially sound small business idea. An added benefit is, being a native of the state, you would be well aware of the famous destinations. A small team and minuscule capital can get you going.

6. Livestock Feed Production

The state of MP has been traditionally rich in livestock production, which the state government regularly promotes. Even with a little knowledge, you can begin a small livestock feed production business without the need for a big team and high investments.

7. Customised T-Shirts

It is a new trend that is gradually taking over the youth, and if you can manage to create some cool T-shirt prints, there is no better idea than this. Purchase T-shirts in bulk and use your creativity to craft trendy quotes or diagrams on them. Once you start selling through online distribution channels, think of expanding your team and, in effect, your business. Customised mugs, pillows, and other similar items remain in demand throughout the year, and once you get a good idea, it won't take long to open your own channel for distribution.

8. Consultancy Services

Consultancy firms in India are raking in massive amounts regularly and becoming a famous domain to be a part of. You can choose an area of expertise according to your experience. Beginning with a small space with a team of 4-5 people would be the best way to start with. The investments required are not high, and again, the potential of expanding the business is relatively better.

9. Translation Services

This is a path less explored as a business entity, but it is required quite often. The scope and opportunity are high because of the diverse nature of the country. There are thousands of native languages spoken in India, and companies who wish to get into consumers' hearts sometimes do that using cultural aspects for which they need translation services. The workforce requirement is limited, and work can be done remotely without a big physical office space and huge investments. A translation firm is probably one of the best small business ideas to pursue these days, for several big companies are expanding their footprints across India.

10. Online Content Creation Platform

With time, the ways of earning and doing business have changed. Years ago, people purchased a shop and spent the rest of their lives managing it, but today the scope of such a step has narrowed. We have moved into an era where content is king. Suppose you have the capacity to create an umbrella platform that delivers service like creative content writing, video editing, designing, website development, digital marketing, etc. In that case, it could well lead to success.

Mostly, a business idea is developed out of the needs and requirements of the people. If anything is lacking in your locality, it could be the best opportunity to pounce upon in that region. However, with massive digitisation and the advent of big e-commerce platforms, most small businesses and startups have begun evolving online. Therefore, an online content creation platform, consultancy services, and translation services are preferred areas to follow. On the other hand, sports coaching, livestock feed production, food business, etc., are traditional forms of business still largely famous. Market research and your specific area of interest are the first two essential factors to consider; capital and resources come afterwards.

Also Read:

1) What Are the Small Business Ideas for Big Cities?
2) What Kind of Small Business Can I Do in A Rural Area?
3) What Business Can I Start in a Small Town in India?
4) What Is Most Important to Small Business Owners?

FAQs

Q. What are the permissions required to start a business in Bhopal?

Ans. Permissions vary district wise. You should check on the internet to find about the permissions required in your area.

Q. Will a food business be successful in Bhopal?

Ans. Most probably, yes. Just make sure that the location and the quality of food are good.

Q. Do I need to obtain a GST number for doing business in Bhopal?

Ans. GST is mandatory for businesses earning over Rs.40 Lakh per annum. Moreover, if you earn less but want to sell through online platforms, obtaining a GST number is essential. Also, if you are involved in the inter-state movement of Goods, GST registration is mandatory.