Best Small Business Ideas Under 1 Lakh [Profitable Businesses]

Did you know that small-scale businesses in India upheld an average growth rate of over 10%? As per the latest study and reports by the government of India, the small business sector will have immense scope and opportunity in recent years. Are you hunting for some small profitable business ideas under budget? Check out the detailed article to know the ins and outs of the small business ideas without investing a considerable amount of funds and assets.

1. Cloud Kitchen

The scope of opportunity and demand of the food sector is unarguable. The cloud kitchen is in trend to curb the high investment rates and funds required to open a restaurant or food bar. The ideology behind the cloud kitchen is food delivery to offer hygienic and tasty meals at the doorstep without investing many funds in the sitting area and ambience. They are one of the best business ideas in demand in the marketplace.

How to start this venture? To open this business idea, you will require neat and well-ventilated kitchen areas and skilled cooks. The estimated budget can be around 50,000 INR.

Must Read: How to Start a Cloud Kitchen Business?

2. Drop-Shipping Services

Drop-shipping services are essential and demand small business ideas in every city. The demand and scope are vast in the drop-shipping or courier services, as people and companies require a reliable and fast drop-shipping service for various business needs.

How to start this venture? To get started with a drop-shipping business in a city, you will need an investment of around 35,000 INR to rent a space for storage and packing, hire a few staff for packaging and collecting packages, and purchase a few assets and supplies related to packing. Some of the supplies needed for this business are – packaging material, adhesive, printer for printing address on the packages, and other related assets.\

Also Read: How To Start a Dropshipping Business In India?

3. e-Tutor Services

The eLearning sector is one of the lucrative sectors for doing business. As per recent studies, the eLearning sector is anticipated to witness considerable demand in the opportunities in the coming future. So, if you are searching for opportunities in the education sector or eLearning sector, you can plan an e-tutor service in your city.

How to start this venture? e-Tutor services require a great set of teaching skills, a comprehensive list of experienced teachers, or a teaching professional with an excellent educational background. You will need a limited capital of 11,000 INR to get started with the e-Tutor services business idea.

4. Juice Bar

Most of the months in India are sunny and have hot climatic conditions. People prefer fresh fruit juices and mocktails to beat the heat and thirst. The juice bar business is one of the most profitable business ideas with low investment rates.

How to start this venture? To get started with a juice bar venture in a city, you will need an investment of around 25,000 INR to rent a space and purchase a few assets related to extracting juice from fresh fruits and other related assets. Some of them are – juicer, blender, strainer, fresh fruits, flavoured syrups, and disposable cutleries.

Also Read: How to Start a Juice Shop?

5. Writing Services

Content is undoubtedly the uncrowned king. The number of opportunities and growth related to the content associated services are undisputable. So, if you love to write blogs, articles or hold an impressive background and experience in providing writing-related services such as blog write-ups, website content, SEO write-ups, in that case, you must plan to start a writing services business. Based on your writing experience and the types of services provided, you may decide the rate card for your assistance.

How to start this venture? Writing services requires a great set of skills, good eyes for details, and adept editing rules and regulations. You will need a limited capital of 2,000 INR for purchasing writing and editing tools to get started with the writing services business idea.

Also Read: Business Ideas for Writing Entrepreneurs

6. Website Flipping

From small ventures to big corporates, every company is now seeking assistance in moving their business to various digital platforms. Website flipping providing business is quite an in trend these days and is one of the market's new business ideas. So, if you are a tech geek and have good knowledge to revamp the old websites into newer and attractive ones or develop user-friendly smartphone apps, in that case, you can start a website flipping providing services. Based on your website or app designing or development experience and the types of services provided, you may decide the rates for your support.

How to start this venture? To get started with website flipping services, you must be skilled and adept in building or revamping websites and apps to the latest and compatible programming languages. To open this business, you will need a limited capital of around 55,000 INR to purchase a few assets, such as a high-performance laptop or a desktop and paid software or interface.

7. Baking Services

Are you good at baking and searching for small business ideas from home? Then, you must plan out to open a bakery with scrumptious cakes, cookies, muffins, and hot-piping brownies.

How to start this venture? To get started with bakery services from home, you will need an investment of around 12,000 INR to purchase a few assets related to baking. Some of them are - OTG, baking ingredients, baking moulds, weighing machine, cake tables, baking accessories such as scrappers, butter papers, nozzles, spatulas, and blenders.

Also Read: Best Baking Business Ideas In 2022

8. Boutique Services

Boutique services are one of the most demanded and profitable business ideas in the market. People now prefer customised and unique designer outfits to ready-made ones. So, if you are a fresh fashion design graduate or love to design and create stunning outfits, you can turn your passion into a successful career. To get started to open a small business with less investment, you should plan out your business plan around boutique services. The best part of opening this business is that you can start this venture from your home and save yourself from the heavy expenses of rents and assets.

How to start this venture? You can begin the boutique services from home with an investment of around 25,000 INR to purchase a few assets related to stitching and designing, such as an efficient sewing machine, threads, laces, borders, buttons, fabric, and more.

Further Read: How to Start a Boutique Business?

Bottom Line

From the food sector to automobiles, you must have insight into the small profitable business ideas and best business under 1 lakh. So, based on your interest and availability of resources and supplies, plan out a detailed business plan to open the small business idea in the city or town from the top 8 small scale business ideas enlisted in the above-detailed article.

Also Read:

1) What Are Some Business Ideas for Women in Manipur?
2) What Are Some Business Ideas for Women in Haryana?
3) What Are Some Business Ideas For Women In Uttarakhand?
4) OkCredit: All you need to know about OkCredit & how it works.

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. Which business ideas are the new business ideas in the marketplace?

Ans. Due to digitalisation, many online small business ideas emerged in the marketplace and are developing higher profits. Some profitable new business ideas in the market are – e-tutor services, virtual assistant, e-hobby classes, online thrift store, handmade products store, and more.

Q. How much duration will it require to implement a small business idea?

Ans. If you have a detailed business plan and structured approach to achieve the objectives and goals outlined in the business plan. In that case, you will quickly implement the small business idea in any city or town within a couple of weeks. So, be consistent and do immense hard work and smart work to achieve the outlined business goals and objectives within a couple of months.

Q. Does it require a considerable amount of funds and investments to start a small business in a city?

Ans. No, you can start a small business idea or any profitable business idea within a limited budget of up to 1 lakh. Many unique business ideas and new business ideas are yielding higher profits than the investment rate. So, plan out your business idea from the list mentioned in the above-detailed article.