Best Business Ideas under 10 Lakh Rupees [Profitable Businesses]

Many people aspire to become business owners or entrepreneurs. However, it requires a high investment that many people cannot afford. As a result, they drop the plan of being an entrepreneur. So, we have curated some small business ideas that you can start under INR 10 lakh. INR 10 lakh is a modest amount that people can save, take a loan, or seek investors for.

The success of the business depends on the time and effort you put into the business. Business doesn't grow by itself; you need to find interesting methods to keep your business running. There are many ways to grow your business. You can use advertising and promotional companies to market your business, select a target market and discover a niche, etc. All these factors lean towards a successful business.

Let us now discuss the small profitable business ideas that you can start under INR 10 lakh.

Best business ideas under 10 lakh

The small-scale business ideas are as follows:

1. IT or gadget store

The IT or gadget store is the best business under 10 lakh. Every individual has a laptop and phone or other gadgets at their home. The demand for gadget stores is extremely high. You can sell headphones, mobile phones, home theatre, speakers, gaming gadgets, VR systems, cameras, etc. With the increasing demand, it is a perfect opportunity to start an IT store or gadget store.

The investment required in a gadget store is between INR 7 to 8 lakh. You will still have a little money left to add the latest and cool gadgets in the store. The rate of the investment period is between 6 to 8 months. It takes time for every business to establish. So, you can start this business as it is a profitable business.

2. Cleaning business

The next new business idea is to start a cleaning business. A cleaning business is a small business idea that you can start from home. Cleaning is a necessary chore in every household. It might sound like an outlandish idea, but it is a profitable business to start. You can start the business in a few places first and grow your business as you increase your profits. You can take contacts of cleaning the houses, commercial complexes, event halls, water tanks, wedding places, etc.

You can also hire a team and send them to different places when you have more contracts. The investment required for a cleaning business varies. It ranges between INR 2 to 5 lakh. If you want to start a large-scale business, the investment will be INR 7 to 8 lakh.

Also Read: Tips to start cleaning services business

3. Catering business

The catering business is one of the most popular business ideas that you can start with a small investment. India is famous for its spices and traditional food. Every occasion demands amazing food. Food business and catering business are here to stay. You can start a catering business to provide the culinary experience within a limited budget. The investment required for a catering business ranges between INR 3 to 6 lakh.

Also Read: How to start Catering Business?

4. Travel business

People are willing to spend their savings on vacations and holidays. They often hire a guide or travel planners to guide them with the right information and places that they can go to. The market has been growing immensely in the travel business. It is a perfect opportunity for you to start a travel business.

If you have travelled the world, like travelling, or have relevant information about the best places for vacations, it might be the best business for you. The investment required to start a travelling business is between INR 4 to 5 lakh. It is an affordable business idea for young people.

Also Read: How to start tour and travel business?

5. Online stores

Creating a physical store is hectic, complex, and requires a significant investment. However, starting an online store is affordable and easy to operate. It is considered one of the perfect small business ideas from home. All you have to do is create a website and upload the goods and services provided by the business.

You can start an online business in your niche, like a clothing business, handmade products, cookies, bakery items, chocolates, custom-made art, jewellery, etc. There are various options to choose from. It is a profitable business to start. The investment required for an online store business is between INR 2 to 4 lakh.

Also Read: How to name your online store?

6. Fitness centre

The majority of people have understood the importance of a healthy lifestyle. It has become a need of the hour to have a good and healthy body. If you are interested in fitness and a healthy lifestyle, you can start your own fitness centre. It is the best business idea to start with a small investment. The investment required for a fitness centre ranges between INR 8 to 10 lakh.

A fitness centre requires suitable types of machinery, tools, cardio equipment, weightlifting tools, etc. There are so many shops and places where you can find second-hand and affordable machinery for your fitness centre. It will help you save some money for business operations.

Also Read: How to start gym business?

7. Spa service business

Stress is increasing in everybody's lives. Providing spa services is a great way to tackle stress and exhaustion. Many people go to spa salons to de-stress themselves. So, a spa service business is the best business idea to start. The investment required for the spa service business is between INR 8 to 10 lakh.

Conclusion

Setting a business requires a fair amount of market research and target groups for your business. To start a business, you need a business plan to grow your business. There are so many business ideas that you can start with 10 lakh. Some of the business ideas are spa services, water purification unit business, online stores, online advertisement business, fitness centres, etc. You can refer to the small business ideas mentioned in the article for clarity.

Also read:

1) Online Business Ideas You Can Start Quickly
2) What online business can I do to make money? Here are the top-6 ideas for you.
3) Where Do the Best Business Ideas Come From?
4) Best Home Business Ideas in 2020
5) OkCredit: All you need to know about OkCredit & how it works.

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FAQs

Q. What are the steps of starting a business from scratch?

Ans. The steps of starting a business are listed as follows:

• Create a business plan
• Identify your target market or target audience
• Find suppliers for your business
• Find the machinery and tools suitable for your business
• Get a license for your business, if required
• Set up a website to promote your business
• Advertise your business
• Start the business

Q. What businesses can I start with only 5 lakh?

Ans. There are several businesses that you can start with only 5 lakh. Some of the business ideas include catering services, food delivery services, property management business, telecom business consultancy, financial and investment advisor, optical frame manufacturing business, online stores, clothing business, handmade and handicrafts business, etc.

Q. What are the small manufacturing business ideas that I can start?

Ans. The small manufacturing business ideas include packing boxes and cartons, scented sticks manufacturing business, customised T-shirt printing business, tissue paper making business, health and fitness centres, spa services, cell phone cases business, candle making business, toy manufacturing business, women accessories, jewellery making business, fireworks business, eco-friendly products business, etc.