1. SOCIAL MEDIA ASSISTANCE SERVICE
We have previously talked about how big social media is for big and small businesses both. This kind of business is merely an extension of how well you know your social networks and how best to use them for business clients. Under this service, you could be doing ghost-writing for businesses, posting on their blogs, Facebook, LinkedIn and twitter accounts. You could also actively monitor the networks for mentions of your client and manage them accordingly
We have previously talked about how big social media is for big and small businesses both. This kind of business is merely an extension of how well you know your social networks and how best to use them for business clients. Under this service, you could be doing ghost-writing for businesses, posting on their blogs, Facebook, LinkedIn and twitter accounts. You could also actively monitor the networks for mentions of your client and manage them accordingly
Seed capital: Rs.10,000
Can be started from home? Yes
ROI period: 6 months
Resources: You should know your social networks. Guides on how to effectively use social media for businesses are available online. Social media workshops have also begun in Indian cities
Expected revenues: Rs.15 lakh (5 years); Rs.50 lakh (10 years)
Office requirements: One 10×10 room as office space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads)
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority
2. HR AND RECRUITING SERVICE
Not every business can afford a human resources department. Not everyone can afford a big recruitment firm either. There is a gap here that can be exploited, especially by human resources professionals, to start building their own recruiting firm. Further on, you can also actively manage these firms’ HR processes for them, all the time putting yourself to be one of those big firms as well.
Not every business can afford a human resources department. Not everyone can afford a big recruitment firm either. There is a gap here that can be exploited, especially by human resources professionals, to start building their own recruiting firm. Further on, you can also actively manage these firms’ HR processes for them, all the time putting yourself to be one of those big firms as well.
Seed capital: Rs.10,000
Can be started from home? Yes
ROI period: Immediate
Resources: If you are not trained already, pursue a short course or workshop at an institute like Symbiosis Centre for Distance Learning or IGNOU
Expected revenues: Rs.10 lakh (5 years); Rs.20 lakh (10 years)
Office requirements: One 10×10 room as office space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads)
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority
3. TRANSLATION SERVICES
Globalization and the positives in business infrastructure mean that even small and medium businesses now work across at least a few nations. But this comes with the hurdle of language in which they invariably need assistance. So, if you know any language of business, you are going to be in business yourself as translators are in big need. A translation service would be required to interpret all sorts of documents, but their greatest source of revenue will be legal and medical companies. You can specialize in the one or two languages you speak fluently, or you can hire other linguists to translate dozens of other tongues.
Globalization and the positives in business infrastructure mean that even small and medium businesses now work across at least a few nations. But this comes with the hurdle of language in which they invariably need assistance. So, if you know any language of business, you are going to be in business yourself as translators are in big need. A translation service would be required to interpret all sorts of documents, but their greatest source of revenue will be legal and medical companies. You can specialize in the one or two languages you speak fluently, or you can hire other linguists to translate dozens of other tongues.
Seed capital: Rs.10,000
Can be started from home? Yes
ROI period: Immediate
Resources: If you are not trained already, pursue French at Alliance Francaise, German at the Max Mueller Bhavan, Spanish at Instituto Hispanico, Chinese at the India China Chamber of Commerce & Industry and Japanese at the Language School of Indo-Japan Chamber of Commerce
Expected revenues: Rs.20 lakh (5 years); Rs.40 lakh (10 years)
Office requirements: One 10×10 room as office space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads)
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority
4. BOARDROOM FACILITIES
This is a business idea that, though a tad expensive, can bring in huge revenue over time. Most small and medium businesses do not have boardrooms of their own owing to the space crunch in most big cities. In addition, some do not want to commit that much investment towards a boardroom of their own. Hence, they rent boardrooms for meetings, events and general socialization. So, if you have space of your own, you can easily modify it to suit a business’ needs.
This is a business idea that, though a tad expensive, can bring in huge revenue over time. Most small and medium businesses do not have boardrooms of their own owing to the space crunch in most big cities. In addition, some do not want to commit that much investment towards a boardroom of their own. Hence, they rent boardrooms for meetings, events and general socialization. So, if you have space of your own, you can easily modify it to suit a business’ needs.
Seed capital: Rs.2 lakh (Assuming you have space)
Can be started from home? No
ROI period: 1 year
Resources: No training needed. One must look up the internet to see what business facilities are in trend
Expected revenues: Rs.30 lakh (5 years); Rs.60 lakh (10 years)
Office requirements: One 10×10 room as office space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads). Projectors, laptop, broadband connection, tea and coffee machines, fax, and stationery needed for boardrooms too
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority. You also need a fire safety clearance from local fire department in some cases
5. MEDICAL TOURISM SERVICE
That India has some of the best-trained and qualified medical professionals is a foregone conclusion. What is of note to us, however, is that medical costs in India are also one of the lowest in the world. This is why many foreign nationals come to India for surgeries or medical treatment. This has created an opportunity for Indian entrepreneurs to offer services to overseas patients looking to get treated at local hospitals.
That India has some of the best-trained and qualified medical professionals is a foregone conclusion. What is of note to us, however, is that medical costs in India are also one of the lowest in the world. This is why many foreign nationals come to India for surgeries or medical treatment. This has created an opportunity for Indian entrepreneurs to offer services to overseas patients looking to get treated at local hospitals.
Seed capital: Rs.30,000
Can be started from home? Yes
ROI period: Immediate
Resources: No specific qualification is essential but industry knowledge helps
Expected revenues: Rs.15 lakh (5 years); Rs.25 lakh (10 years)
Office requirements: One 10×10 room as office space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), and lots of material on hospitals in India
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority
6. DIETARY CONSULTANCY SERVICES
Eating right is as big as working out amongst the fitness crowd in our urban cities. However, that cannot be done without a bit of external guidance and this is where a dietary consultant comes in. This is a business for the dietitian or nutritionist to startup. Given that more and more of urban India has progressively lesser time to eat and take care of their diet, clientele size will always be growing in this sector.
Eating right is as big as working out amongst the fitness crowd in our urban cities. However, that cannot be done without a bit of external guidance and this is where a dietary consultant comes in. This is a business for the dietitian or nutritionist to startup. Given that more and more of urban India has progressively lesser time to eat and take care of their diet, clientele size will always be growing in this sector.
Seed capital: Rs.10,000
Can be started from home? Yes
ROI period: Immediate
Resources: A course in nutrition would be necessary here. You can do such courses at the National Institute of Nutrition, the International life Sciences Institute and J. D. Birla Institute
Expected revenues: Rs.10 lakh (5 years); Rs.20 lakh (10 years)
Office requirements: One 10×10 room as office space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads)
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority
7. USED CAR DEALERSHIP
Buying a car is a status symbol in our country now, and many middle-class Indians think it is necessary to own one. But, given that costs of new cars are very prohibitive, the need for having used cars on the market is justified. You can start a dealership with not much if you make your first sales on a commission basis rather than a buy-and-sell basis. Also, the used car market tends to do better in a slow market and that is one big positive.
Buying a car is a status symbol in our country now, and many middle-class Indians think it is necessary to own one. But, given that costs of new cars are very prohibitive, the need for having used cars on the market is justified. You can start a dealership with not much if you make your first sales on a commission basis rather than a buy-and-sell basis. Also, the used car market tends to do better in a slow market and that is one big positive.
Seed capital: Rs.1 lakh
Can be started from home? Yes
ROI period: 6 months
Resources: No specific training needed, but knowledge of RTO procedures will come in handy
Expected revenues: Rs.50 lakh (5 years); Rs.1 crore (10 years)
Office requirements: One 10×10 room as office space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), and at least 2 more assistants
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority
8. MOBILE GARAGE SERVICE
This one is for the engineers and trained mechanics. Garages tend to be in the more grey parts of any town and the car does not always break down there. Mobile mechanics are then a Godsend. You can start this service with just a motorcycle of your own and a couple of assistants. You can even offer packages for car owners by tying up with dealerships.
Seed capital: Rs.1 lakh (Assuming you have some transport of your own)
Can be started from home? Yes
ROI period: 1 year
Resources: No specific training needed
Expected revenues: Rs.10 lakh (5 years); Rs.20 lakh (10 years)
Office requirements: One 10×10 room as office space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), garage equipment, and at least 2 more assistants
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority
9. AUTO MODIFICATION SERVICE
Not everyone can afford a swanky imported car or motorcycle. But many of them can afford small modifications to their set of wheels. All thanks to movies like The Fast and The Furious, people are also more eager to get their wheels tuned for better performance. All this spells a business idea for all the design-leaning auto enthusiasts amongst our readers.
Not everyone can afford a swanky imported car or motorcycle. But many of them can afford small modifications to their set of wheels. All thanks to movies like The Fast and The Furious, people are also more eager to get their wheels tuned for better performance. All this spells a business idea for all the design-leaning auto enthusiasts amongst our readers.
Seed capital: Rs.3 lakh (Assuming you have space)
Can be started from home? Yes
ROI period: 1 year
Resources: No specific training needed. Just an eye for design and the latest trends in the auto world
Expected revenues: Rs.20 lakh (5 years); Rs.40 lakh (10 years)
Office requirements: One 10×10 room as office space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), at least 1 assistant, garage equipment and modification kits
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority
10. DRIVING SCHOOL
This is again an evergreen business idea in the auto sector. With the number of cars increasing and more and more people wanting to learn how to drive a car, this business will always have a steady flow of clients. All you need is a car of your own, and good-enough patience to be able to teach people how to safely drive their cars.
This is again an evergreen business idea in the auto sector. With the number of cars increasing and more and more people wanting to learn how to drive a car, this business will always have a steady flow of clients. All you need is a car of your own, and good-enough patience to be able to teach people how to safely drive their cars.
Seed capital: Rs.10,000 (Assuming you have a car)
Can be started from home? Yes
ROI period: Immediate
Resources: No specific training needed
Expected revenues: Rs.10 lakh (5 years); Rs.30 lakh (10 years)
Office requirements: One 10×10 room as office space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads)
Licensing and permissions: You will need specific permission on running a commercial business out of your home from your local authority. Also, you will need permission from the local RTO to run a driving school
11. CAR STORAGE
This is a new business concept in India and one which is still in its nascent stages. Here, your customers will be people who need to store their cars in a safe environment for short or extended periods. The first step to establishing a car storage business is to secure low-cost indoor storage space, such as a vacant warehouse or manufacturing building. The next step is to simply market the business, which you do by joining auto clubs and auto associations.
Seed capital: Rs.4 lakh (To lease a space)
Can be started from home? No
ROI period: 2 years
Resources: No specific training needed
Expected revenues: Rs.20 lakh (5 years); Rs.40 lakh (10 years)
Office requirements: One 10×10 room as office space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), and at least two caretakers
Licensing and permissions: No specific permissions required, though the local RTO or corporation may have something to say if it classifies your area as a paid parking space
12. HOBBY CLASSES
More and more parents are now interested in more holistic development of their children. And, thankfully, that means they get time do things other than deep-dive into their books. Hobby classes are one such getaway for kids. If you have a skill in art, crafts, music or any other such discipline, you can offer hobby classes in your neighborhood. This can be started in your home and will expand quickly via word-of-mouth through the kids themselves.
More and more parents are now interested in more holistic development of their children. And, thankfully, that means they get time do things other than deep-dive into their books. Hobby classes are one such getaway for kids. If you have a skill in art, crafts, music or any other such discipline, you can offer hobby classes in your neighborhood. This can be started in your home and will expand quickly via word-of-mouth through the kids themselves.
Seed capital: Rs.1 lakh (Assuming you have space)
Can be started from home? Yes
ROI period: 6 months to 1 year
Resources: No specific training needed. Just your own skills
Expected revenues: Rs.20 lakh (5 years); Rs.40 lakh (10 years)
Office requirements: One 10×10 room as office space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), at least 1 assistants, and activity kits for your discipline
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority
13. CHILDREN’S PARTY PLANNING SERVICE
Make no mistake. Organizing a child’s party is way tougher than organizing a wine get-together. But if you do it well, these kids will be your biggest marketers. It is a fun business that will throw up something new every time, and will most definitely make you money, especially in urban India.
Make no mistake. Organizing a child’s party is way tougher than organizing a wine get-together. But if you do it well, these kids will be your biggest marketers. It is a fun business that will throw up something new every time, and will most definitely make you money, especially in urban India.
Seed capital: Rs.20,000
Can be started from home? Yes
ROI period: Immediate
Resources: No specific training needed. Just your own organizational skills and a penchant for fun
Expected revenues: Rs.20 lakh (5 years); Rs.40 lakh (10 years)
Office requirements: One 10×10 room as office space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), and at least 1 assistant
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority
14. CHILDPROOFING SERVICE
This one is for interior decorators amongst our readers. Children love to fool around. Alas, parents do not always prefer that. Not only do kids damage stuff, but, more dangerously, hurt themselves while they are at it. A childproofer visits homes, installing safety latches, catches and other safety devices and alerting parents to potential hazards like poisonous plants and other materials. It is a low-cost business idea that has an element of doing good attached to it.
This one is for interior decorators amongst our readers. Children love to fool around. Alas, parents do not always prefer that. Not only do kids damage stuff, but, more dangerously, hurt themselves while they are at it. A childproofer visits homes, installing safety latches, catches and other safety devices and alerting parents to potential hazards like poisonous plants and other materials. It is a low-cost business idea that has an element of doing good attached to it.
Seed capital: Rs.10,000
Can be started from home? Yes
ROI period: Immediate
Resources: No specific training needed. Just your own skills and the ability to think like a child
Expected revenues: Rs.15 lakh (5 years); Rs.25 lakh (10 years)
Office requirements: One 10×10 room as office space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads)
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority
15. NANNY SERVICES
This is a business idea that has been around since the British Raj in India. While there is the informal baisystem in our country, more and more parents are looking for nannies who will bring something more to the table, like helping with the child’s education, keeping a watch on his dietary needs as well as able to give an educated feedback when needed. A nanny service would see you hunt for such nannies, train them if needed and then place them with the right families.
This is a business idea that has been around since the British Raj in India. While there is the informal baisystem in our country, more and more parents are looking for nannies who will bring something more to the table, like helping with the child’s education, keeping a watch on his dietary needs as well as able to give an educated feedback when needed. A nanny service would see you hunt for such nannies, train them if needed and then place them with the right families.
Seed capital: Rs.10,000
Can be started from home? Yes
ROI period: Immediate
Resources: No specific training needed
Expected revenues: Rs.10 lakh (5 years); Rs.20 lakh (10 years)
Office requirements: One 10×10 room as office space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads)
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority
16. SPORT COACHING
Thanks to the rise of Indian sportsmen in the last three years on the global stage, more and more parents are now opening up to the idea of their children pursuing sports as a career. If you are a professional or state level-plus player of any sport, you have the opportunity of starting your own coaching service for kids. There is no shortage of children wanting to be the next superstars. You make one, and you would have made millions.
Thanks to the rise of Indian sportsmen in the last three years on the global stage, more and more parents are now opening up to the idea of their children pursuing sports as a career. If you are a professional or state level-plus player of any sport, you have the opportunity of starting your own coaching service for kids. There is no shortage of children wanting to be the next superstars. You make one, and you would have made millions.
Seed capital: Rs.10,000 (Assuming you have free access to sporting facilities)
Can be started from home? Yes
ROI period: Immediate
Resources: You must be a player of some repute and level. For some sports, you will also be needed to be certified as a coach by the relevant sporting body
Expected revenues: Rs.25 lakh (5 years); Rs.50 lakh (10 years)
Office requirements: One 10×10 room as office space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), and at least 1 assistant
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority
17. COURIER SERVICE
This is one of the oldest business services in the world and as such may not seem the biggest business idea either. But the fact is that a lot of businesses are always on the lookout for better shipping costs and times locally, and that’s your cue to start up in. A local courier service, which relies upon public or private transport, and has a knack for efficiency, would always find takers here in India.
This is one of the oldest business services in the world and as such may not seem the biggest business idea either. But the fact is that a lot of businesses are always on the lookout for better shipping costs and times locally, and that’s your cue to start up in. A local courier service, which relies upon public or private transport, and has a knack for efficiency, would always find takers here in India.
Seed capital: Rs.2 lakh (Assuming you are using public transport)
Can be started from home? Yes
ROI period: 1 year
Resources: No specific training needed
Expected revenues: Rs.20 lakh (5 years); Rs.40 lakh (10 years)
Office requirements: One 10×10 room as office space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), and at least 5 assistants
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority
18. RESTAURANT LOGISTICS
Restaurants have logistic needs comparable to small armies. They need their groceries in time, as even a change of an hour means their costs change. They also need them delivered safely and in good, hygienic conditions. Alas, that sector in India is very disorganized and depends on local informal players. You can come into this high-cost business, with a bit of common sense and listening to restaurant owners, and offer them a way out of their tensions by letting you take care of their logistics
Restaurants have logistic needs comparable to small armies. They need their groceries in time, as even a change of an hour means their costs change. They also need them delivered safely and in good, hygienic conditions. Alas, that sector in India is very disorganized and depends on local informal players. You can come into this high-cost business, with a bit of common sense and listening to restaurant owners, and offer them a way out of their tensions by letting you take care of their logistics
Seed capital: Rs.30 lakh (Assuming you will buy your vehicles)
Can be started from home? No
ROI period: 2 years
Resources: No specific training needed. Just common sense and an understanding of the transport logistics business in your area
Expected revenues: Rs.50 lakh (5 years); Rs.80 lakh (10 years)
Office requirements: One 10×10 room as office space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), at least 5 assistants
Licensing and permissions: In some states, your business will be categorized as goods carriage and hence will have to pay RTO tax appropriately
19. MOVING AND PACKING SERVICE
This is one of those businesses that will be handled best by women whose husbands moved frequently. It is an art to pack an entire household into a few boxes. A house-owner will gladly get himself rid of such a headache and let you do it for a fee. You can expand the scope by throwing in a moving service too for your client. It is a business idea with the maximum number of clients coming from the central government services.
This is one of those businesses that will be handled best by women whose husbands moved frequently. It is an art to pack an entire household into a few boxes. A house-owner will gladly get himself rid of such a headache and let you do it for a fee. You can expand the scope by throwing in a moving service too for your client. It is a business idea with the maximum number of clients coming from the central government services.
Seed capital: Rs.20 lakh (Assuming you lease transport vehicles)
Can be started from home? No
ROI period: 2 years
Resources: No specific training needed. Just common sense and an understanding of the transport business
Expected revenues: Rs.50 lakh (5 years); Rs.80 lakh (10 years)
Office requirements: One 10×10 room as office space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), at least 2 assistants
Licensing and permissions: Your business can be categorized as goods carriage and hence you will have to pay RTO tax appropriately. Also, your vehicle will need an all-India permit from the RTO
20. CARPOOLING SERVICE
This might be one of the dark horses amongst our business ideas. Carpooling means that a few people get together to use one car to go to the same destination, splitting the fuel costs, thus saving money individually. While office goers and school children both do this informally, there is a need for this to be done formally as well. You can start a service by identifying potential customers, linking them up and charging a fee on facilitation of such a service. The best way to do this, however, has to be online.
This might be one of the dark horses amongst our business ideas. Carpooling means that a few people get together to use one car to go to the same destination, splitting the fuel costs, thus saving money individually. While office goers and school children both do this informally, there is a need for this to be done formally as well. You can start a service by identifying potential customers, linking them up and charging a fee on facilitation of such a service. The best way to do this, however, has to be online.
Seed capital: Rs.50,000 (Assuming you are going to hire a web developer)
Can be started from home? Yes
ROI period: 6 months to 1 year
Resources: No specific training needed
Expected revenues: Rs.15 lakh (5 years); Rs.30 lakh (10 years)
Office requirements: One 10×10 room as office space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads)
Licensing and permissions: You will need specific permission on running a commercial business out of your home from your local authority
21. SAFE DRIVER SERVICE
The concept of partying hard has hit India in earnest. After work meet-ups and casual drinking on weekdays is on the rise, not to mention the huge number of people who frequent pubs and bars in the major cities during the weekend. Alas, some overdo it. For them, a safe driver service is like a boon. For a fee, a driver can either drive the pub goer’s car back to his home after the night is over, leaving him tension-free during the partying itself. This service can also work well for girls who go out partying on their own and might need a safe service to take them back home.
Seed capital: Rs.30,000 (Assuming your patrons have their own cars)
Can be started from home? Yes
ROI period: 6 months
Resources: No specific training needed. Just your own organizational skills
Expected revenues: Rs.10 lakh (5 years); Rs.20 lakh (10 years)
Office requirements: One 10×10 room as office space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), and at least 2 certified and police-verified drivers
Licensing and permissions: You will need specific permission on running a commercial business out of your home from your local authority. If you run your own car, it may be classified as a taxi and you may have to pay RTO tax for it
22. RAINWATER HARVESTING
The concept of rainwater harvesting, though not new, is only now gaining popularity in urban India. Rainwater harvesting is a process by which one simply collects rainwater and then stores it until required. Corporations in cities like Bengaluru and Mumbai have made it mandatory for new buildings to have rainwater harvesting facilities. In some cities, this includes private bungalows as well. This translates to a windfall for people who have learned the process of rainwater harvesting.
The concept of rainwater harvesting, though not new, is only now gaining popularity in urban India. Rainwater harvesting is a process by which one simply collects rainwater and then stores it until required. Corporations in cities like Bengaluru and Mumbai have made it mandatory for new buildings to have rainwater harvesting facilities. In some cities, this includes private bungalows as well. This translates to a windfall for people who have learned the process of rainwater harvesting.
Seed capital: Rs.20,000
Can be started from home? Yes
ROI period: 3 months
Resources: The Centre for Science and Environment (CSE), Delhi, offers a five-day certificate course on rainwater harvesting that teaches topics like principles, components, planning and designing among others
Expected revenues: Rs.20 lakh (5 years); Rs.40 lakh (10 years)
Office requirements: One 10×10 room as office space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads) and at least one assistant
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority. Also, you will need to be certified in some cities by local corporations, as fit to set up a harvesting system
23. GREEN CONSULTANCY
More and more businesses are going green today. But they need to be showed how. This is a business opportunity for people with an environmental bent of mind. They can put their skills and knowledge to practice by helping other businesses to go green — implementing green practices and reducing inefficiency in energy consumption. Crucially, this business has clientele across the board from medium-sized businesses to even government authorities.
More and more businesses are going green today. But they need to be showed how. This is a business opportunity for people with an environmental bent of mind. They can put their skills and knowledge to practice by helping other businesses to go green — implementing green practices and reducing inefficiency in energy consumption. Crucially, this business has clientele across the board from medium-sized businesses to even government authorities.
Seed capital: Rs.20,000
Can be started from home? Yes
ROI period: 6 months
Resources: A lot of best practices on going green can be picked up on the Internet. Besides that, formal education at schools teaching environmental sciences also has modules on such practices
Expected revenues: Rs.20 lakh (5 years); Rs.40 lakh (10 years)
Office requirements: One 10×10 room as office space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads) and at least one assistant
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority
24. RECYCLED FASHION
For all those fashion designers out there, this is as much a business ideas as it is a challenge. Materials like rubber, leather and others are known to be used in apparel as well. Reusing old material to make apparel that is wearable and usable is one of the more green businesses you can start. All it takes is a bit of ingenuity and an ability to innovate.
For all those fashion designers out there, this is as much a business ideas as it is a challenge. Materials like rubber, leather and others are known to be used in apparel as well. Reusing old material to make apparel that is wearable and usable is one of the more green businesses you can start. All it takes is a bit of ingenuity and an ability to innovate.
Seed capital: Rs.20,000
Can be started from home? Yes
ROI period: 1 year
Resources: The Centre for Science and Environment (CSE), Delhi, offers courses in recycling and reusing of material that can be used in clothing
Expected revenues: Rs.15 lakh (5 years); Rs.25 lakh (10 years)
Office requirements: One 10×10 room as office space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads) and at least one assistant
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority
25. REFURBISHED FURNITURE
This is a business idea for those who have the ability to find beauty in old things. As they say often now, the same kind of furniture is not made anymore in the country; not the same wood, not the same work. Interior decorators have a chance to set up a business here where they can hunt out old furniture, refurbish it and sell to it to customers keen on old, solid furniture.
This is a business idea for those who have the ability to find beauty in old things. As they say often now, the same kind of furniture is not made anymore in the country; not the same wood, not the same work. Interior decorators have a chance to set up a business here where they can hunt out old furniture, refurbish it and sell to it to customers keen on old, solid furniture.
Seed capital: Rs.20,000
Can be started from home? Yes
ROI period: Immediate
Resources: An eye for furniture trends as well as a penchant for places like Chor Bazaar in Mumbai and the timber markets in Delhi
Expected revenues: Rs.15 lakh (5 years); Rs.30 lakh (10 years)
Office requirements: One 10×10 room as office space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads) and at least one assistant
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority
26. GREEN PRODUCTS STORE
As more and more people become aware of how the earth is being damaged by us, the more is their leaning towards products that are green in nature and do not harm the environment. However, access to such products is not always easy. A green products store, preferably an online one, can be a great problem solver here as well as a good business idea.
As more and more people become aware of how the earth is being damaged by us, the more is their leaning towards products that are green in nature and do not harm the environment. However, access to such products is not always easy. A green products store, preferably an online one, can be a great problem solver here as well as a good business idea.
Seed capital: Rs.50,000-Rs.5 lakh (Depending on what you sell and whether you outsource your IT )
Can be started from home? Yes
ROI period: 1 to 2 years
Resources: The Internet is your best resource on tips to sell online. Green business blogs on the web will direct you to products which are hot. Also connect with the major shipping firms to find out who will give you the best deal
Expected revenues: Rs.15 lakh (5 years); Rs.30 lakh (10 years), but depends a lot on what you are selling
Office requirements: One 20×20 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), merchant account
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority
27. DOG GROOMING
Dog owners are always in need of ways to beautify their canine companions. You would be surprised to know that most owners think nothing of spending a bundle on a regular basis to keep their pampered pooches well-groomed. You can tap into this business if you like pets, specifically dogs, and have a sense of what works and does not work in dog grooming.
Dog owners are always in need of ways to beautify their canine companions. You would be surprised to know that most owners think nothing of spending a bundle on a regular basis to keep their pampered pooches well-groomed. You can tap into this business if you like pets, specifically dogs, and have a sense of what works and does not work in dog grooming.
Seed capital: Rs.50,000 (Assuming you have space of your own)
Can be started from home? No
ROI period: 1 year
Resources: The Internet is your best resource on tips to dog grooming. While there no specific courses in India, there are dog grooming courses available in the west
Expected revenues: Rs.25 lakh (5 years); Rs.40 lakh (10 years)
Office requirements: One 20×20 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), one assistant, and lots of grooming equipment
Licensing and permissions: You will need a specific permission on running a pet business from the local corporation on sanitation and health standards
28. PET FOOD
Not all pet owners really know what is best for their pet. Many just pick up food from the shelves to feed their pets. The more informed ones go on the internet to find out what is best for their dog or cat. There is an opportunity here, especially in the big towns, to prepare and deliver healthy food for pets, as prescribed by nutritionists. This is viable business, provided you get your target clients right.
Not all pet owners really know what is best for their pet. Many just pick up food from the shelves to feed their pets. The more informed ones go on the internet to find out what is best for their dog or cat. There is an opportunity here, especially in the big towns, to prepare and deliver healthy food for pets, as prescribed by nutritionists. This is viable business, provided you get your target clients right.
Seed capital: Rs.50,000-Rs.1 lakh (For the kitchen )
Can be started from home? Yes
ROI period: 6 months
Resources: The Internet is your ideal resource for what food is best for pets in India. Also, you must join the various dog and cat clubs to network and market your business
Expected revenues: Rs.15 lakh (5 years); Rs.30 lakh (10 years)
Office requirements: One 20×20 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), merchant account
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority. For a separate kitchen, you may also need a fire department clearance
29. KENNELS
The business of kennels is already quite prevalent in India, but there is always space for more. Though a kennel is a little more costly to set up, it is perfect for anyone who has extra space. As such, this business idea is best for those living in smaller cities and outskirts of big towns, and those who have an affinity for dogs.
The business of kennels is already quite prevalent in India, but there is always space for more. Though a kennel is a little more costly to set up, it is perfect for anyone who has extra space. As such, this business idea is best for those living in smaller cities and outskirts of big towns, and those who have an affinity for dogs.
Seed capital: Rs.2 lakh (If you have space of your own)
Can be started from home? No
ROI period: 1 year
Resources: The Internet is your best resource for how to run a kennel for dogs in India. Also, you must join the various dog and cat clubs to network and market your business
Expected revenues: Rs.10 lakh (5 years); Rs.20 lakh (10 years)
Office requirements: One 20×20 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), at least 1 assistant, and lots of dog care equipment
Licensing and permissions: You will need a specific permission on running a kennel business from the local corporation on sanitation and health standards
30. DOG BREEDING
This business is only for the aficionados. The business of dog breeding is one where the gestation period is high as it depends upon the litter cycle for the dogs. However, consider this — that Vodafone pug is going in the market for upwards of Rs.40,000 while a purebred, imported, German Shepherd can go for anywhere close to Rs.1 lakh. The industry itself is valued at over a few crore, though no exact figures exist for it. But it definitely is a very rewarding business.
This business is only for the aficionados. The business of dog breeding is one where the gestation period is high as it depends upon the litter cycle for the dogs. However, consider this — that Vodafone pug is going in the market for upwards of Rs.40,000 while a purebred, imported, German Shepherd can go for anywhere close to Rs.1 lakh. The industry itself is valued at over a few crore, though no exact figures exist for it. But it definitely is a very rewarding business.
Seed capital: Rs.30,000-Rs.50,000 (If starting a kennel with local dogs) and Rs.1.5 lakh-Rs.3 lakh (For imported dogs)
Can you start from home? No
ROI period: 3 years
Resources: No training for dog breeders yet. But courses for breeder training is being developed in the circles
Expected revenues: Rs.30 lakh (5 years); Rs.80 lakh (10 years)
Office requirements: One 20×20 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), at least 1 assistant, kennel space, dog grooming equipment, pre-packaged and cooked food, dog care equipment and, very importantly, a veterinarian on call
Licensing and permissions: Breeders need to register with the Animal Welfare Board of India. Every kennel and pedigreed dog must also be registered with the Kennel Club of India. Vaccination requirements must be adhered to as well.
31. PET CARE
This is the cheapest of businesses and one that preys on those lazy owners who get dogs or cats, but can’t take care of them. At first glance, this may seem an ordinary business idea, but Entrepreneur is in the know of a college kid who makes more than Rs.1 lakh a month for walking dogs along with another helper. That is business revenue worth considering for any entrepreneur.
Seed capital: Rs.15,000
Can be started from home? Yes
ROI period: Immediate
Resources: The Internet is your best resource for how to take care of pets. Also, you must join the various dog and cat clubs to network and market your business
Expected revenues: Rs.20 lakh (5 years); Rs.40 lakh (10 years)
Office requirements: One 20×20 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), at least 1 assistant, and lots of pet care equipment
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority
32. INTERIOR DECORATION
This is the oldest business in the book as far as homes go, but only now has it seen a boom with more disposable income flying around. While this business maybe specifically for interior decorators, there is no denying that anyone with a little bit of vision and creativity can get into this business. It is getting the first client that is the hurdle. If you are good, the rest will follow.
This is the oldest business in the book as far as homes go, but only now has it seen a boom with more disposable income flying around. While this business maybe specifically for interior decorators, there is no denying that anyone with a little bit of vision and creativity can get into this business. It is getting the first client that is the hurdle. If you are good, the rest will follow.
Seed capital: Rs.10,000
Can be started from home? Yes
ROI period: 6 months
Resources: Most schools of architecture offer a shorter course in interior decoration, while some designs schools offer workshops and certificate courses as well
Expected revenues: Rs.20 lakh (5 years); Rs.40 lakh (10 years)
Office requirements: One 20×20 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), at least 1 assistant
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority
33. GARDENING SERVICES
This may not seem like a business idea to you, but many small boutique firms are making a fist for it. The concept of having balcony gardens is catching up in urban locations and hence, there is a need for firms which can handle this kind of specialist work. The business is booming in concurrence with the business of real estate.
This may not seem like a business idea to you, but many small boutique firms are making a fist for it. The concept of having balcony gardens is catching up in urban locations and hence, there is a need for firms which can handle this kind of specialist work. The business is booming in concurrence with the business of real estate.
Seed capital: Rs.50,000
Can be started from home? Yes
ROI period: 1 year
Resources: The Internet is your best resource for how to make gardens in closed and tight spaces like flats
Expected revenues: Rs.20 lakh (5 years); Rs.40 lakh (10 years)
Office requirements: One 10×10 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), at least 1 assistant, and lots of gardening equipment
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority
34. APPLIANCE REPAIR SERVICES
The standard of electrical equipment and appliances in Indian households has drastically improved over the past decade. This also means that not all homemakers are comfortable giving their expensive equipment to the neighborhood repairmen. An all-weather appliance repair service that works on job fee or package deal makes business sense here.
The standard of electrical equipment and appliances in Indian households has drastically improved over the past decade. This also means that not all homemakers are comfortable giving their expensive equipment to the neighborhood repairmen. An all-weather appliance repair service that works on job fee or package deal makes business sense here.
Seed capital: Rs.20,000
Can be started from home? Yes
ROI period: 6 months
Resources: You need either certification from appliance makers or a course in electronics from your local ITI
Expected revenues: Rs.15 lakh (5 years); Rs.30 lakh (10 years)
Office requirements: One 10×10 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), electric gear
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority
35. AIR CONDITIONER RENTAL
India is a hot country. And it is also where many young people migrate away from their homes to stay in other towns on rent. While not all of them can afford ACs, they can definitely rent them at affordable rates. There is a business idea here in renting out ACs to not only these on-the-move kids but also small businesses that do not want to necessarily spend first-up.
India is a hot country. And it is also where many young people migrate away from their homes to stay in other towns on rent. While not all of them can afford ACs, they can definitely rent them at affordable rates. There is a business idea here in renting out ACs to not only these on-the-move kids but also small businesses that do not want to necessarily spend first-up.
Seed capital: Rs.70,000 (cost of 4-window ACs)
Can be started from home? Yes
ROI period: 6 months
Resources: You need to do a course in electronics from your local ITI if you intend to repair and maintain ACs
Expected revenues: Rs.15 lakh (5 years); Rs.30 lakh (10 years)
Office requirements: One 10×10 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), electric gear and 1 assistant
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority
36. CARPET AND UPHOLSTERY BUSINESS
We live in a dusty country with much cleaning to be done. Cleaning upholstery and carpets, though, is not a pleasant job for a homemaker. Only recently, they have begun to hire specialists for the same, who can do a quick, clean and scientific job. This business is an all-weather one which also works across India.
We live in a dusty country with much cleaning to be done. Cleaning upholstery and carpets, though, is not a pleasant job for a homemaker. Only recently, they have begun to hire specialists for the same, who can do a quick, clean and scientific job. This business is an all-weather one which also works across India.
Seed capital: Rs.50,000
Can be started from home? Yes
ROI period: 6 months
Resources: The Internet is your best resource on scientific cleaning techniques
Expected revenues: Rs.15 lakh (5 years); Rs.30 lakh (10 years)
Office requirements: One 10×10 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), electric gear and 1 assistant
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority
37. SECURITY AGENCY
The most booming of all businesses in India. Security personnel are needed everywhere — from malls and offices to even homes. And the demand is outstripping supply. This is a good business idea still, provided you can recruit able, trained professionals for the job. One must look at ex-paramilitary personnel as the best fit for these jobs.
The most booming of all businesses in India. Security personnel are needed everywhere — from malls and offices to even homes. And the demand is outstripping supply. This is a good business idea still, provided you can recruit able, trained professionals for the job. One must look at ex-paramilitary personnel as the best fit for these jobs.
Seed capital: Rs.5 lakh
Can be started from home? No
ROI period: 1 year
Resources: You need to be plugged into the security personnel scene. The Security Association of India and the Asian Professional Security Association are the two agencies to look for support and guidance
Expected revenues: Rs.40 lakh (5 years); Rs.80 lakh (10 years)
Office requirements: One 10×10 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), and extra manpower
Licensing and permissions: You will need specific permission from the local police department to offer your services. In addition, if offering armed guards, you will need gun licenses as well
38. CYBER SECURITY FIRM
This business idea is best-suited for those who are the biggest enemies of cyber security — hackers. A cyber security outfit can find work with a corporate as well as a medium-sized business. This is an era where information security is vital and those who know how to steal it, are best equipped to fight it.
This business idea is best-suited for those who are the biggest enemies of cyber security — hackers. A cyber security outfit can find work with a corporate as well as a medium-sized business. This is an era where information security is vital and those who know how to steal it, are best equipped to fight it.
Seed capital: Rs.20,000
Can be started from home? Yes
ROI period: 6 months
Resources: The Internet is your best resource on cyber security
Expected revenues: Rs.30 lakh (5 years); Rs.60 lakh (10 years)
Office requirements: One 10×10 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads)
Licensing and permissions: You will need specific permission on running a commercial business out of your home from your local authority
39. ALARM INSTALLATION SERVICE
Physical security at homes has gone to another level with new and advanced alarm systems being brought into the country. However, one cannot just buy them off the shelf and install them. Experts are needed and this is where a team can start a business. Mind you, alarms have a market not only at homes, but also shops and corporates.
Physical security at homes has gone to another level with new and advanced alarm systems being brought into the country. However, one cannot just buy them off the shelf and install them. Experts are needed and this is where a team can start a business. Mind you, alarms have a market not only at homes, but also shops and corporates.
Seed capital: Rs.1 lakh
Can be started from home? Yes
ROI period: 6 months
Resources: The Internet is your best resource on alarm installations. It would help if you take a course in electronics
Expected revenues: Rs.15 lakh (5 years); Rs.30 lakh (10 years)
Office requirements: One 10×10 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), electric gear and 1 assistant
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority
40. DISASTER MANAGEMENT SERVICE
This kind of business takes the concept of security management to another level. After the floods in Mumbai and the terror attacks, corporates are keen on managing the risk associated with disaster more efficiently. A disaster management firm can put in processes and solutions to minimize risk for a company, in terms of both property and lives.
This kind of business takes the concept of security management to another level. After the floods in Mumbai and the terror attacks, corporates are keen on managing the risk associated with disaster more efficiently. A disaster management firm can put in processes and solutions to minimize risk for a company, in terms of both property and lives.
Seed capital: Rs.50,000
Can be started from home? Yes
ROI period: 6 months
Resources: You can attend courses on Disaster Management from the National Institute of Disaster Management and IGNOU
Expected revenues: Rs.15 lakh (5 years); Rs.30 lakh (10 years)
Office requirements: One 10×10 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads)
Licensing and permissions: You will need specific permission on running a commercial business out of your home from your local authority
41. DETECTIVE AGENCY
This business is in high demand now. Availing the services of detectives has seen a boom with the rise in western culture, as the moralists call it, and also the increased competition between businesses. One can start this business armed with nothing more than common sense and an eye for detail.
This business is in high demand now. Availing the services of detectives has seen a boom with the rise in western culture, as the moralists call it, and also the increased competition between businesses. One can start this business armed with nothing more than common sense and an eye for detail.
Seed capital: Rs.20,000
Can be started from home? Yes
ROI period: 6 months
Resources: You can study criminal forensics as well private investigation at the Indore Christian College, Indore and the National Institute of Private Investigation, New Delhi
Expected revenues: Rs.25 lakh (5 years); Rs.50 lakh (10 years)
Office requirements: One 10×10 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), and 1 assistant
Licensing and permissions: You will need specific permission on running a commercial business out of your home from your local authority
42. BOUTIQUE AD AGENCY
Some call it the most-hated business, for they trick customers and what not! However, there is no denying the presence of ad agencies in our daily life. This is a business set up for ones with a creative bent and loads of perseverance. An ad agency can never go big from the beginning, but there is always a bonanza for the talented ones.
Some call it the most-hated business, for they trick customers and what not! However, there is no denying the presence of ad agencies in our daily life. This is a business set up for ones with a creative bent and loads of perseverance. An ad agency can never go big from the beginning, but there is always a bonanza for the talented ones.
Seed capital: Rs.20,000
Can be started from home? Yes
ROI period: 1 year
Resources: You can study advertising from colleges across India.
Expected revenues: Rs.10 lakh (5 years); Rs.30 lakh (10 years)
Office requirements: One 10×10 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letter heads), and 1 assistant
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority. At some time, you would also want to be accredited by the advertising bodies
43. LOCAL CLASSIFIEDS
No one is asking you to be Craigslist, but starting a classifieds business for your suburb or city can be a decent money-spinner. There are two ways to go about this. Online, if you wish to get advertising revenue at some time. Offline, if you wish to go by the paid copy route. Either way, you have to start small and stay compact. However, a print version would always be more intimate with your audience.
No one is asking you to be Craigslist, but starting a classifieds business for your suburb or city can be a decent money-spinner. There are two ways to go about this. Online, if you wish to get advertising revenue at some time. Offline, if you wish to go by the paid copy route. Either way, you have to start small and stay compact. However, a print version would always be more intimate with your audience.
Seed capital: Rs.10,000 (if online) and Rs.50,000 (if physical version)
Can be started from home? Yes
ROI period: 2 years
Resources: Learn the various business models of classifieds across the world, including Craigslist. Going local is the new way as far as advertising and classifieds go
Expected revenues: Rs.10 lakh (5 years); Rs.20 lakh (10 years)
Office requirements: One 10×10 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads)
Licensing and permissions: You will need specific permission on running a commercial business out of your home from your local authority
44. PROMOTIONAL PRODUCTS
They say the best advertising is one where the customers get a freebie. They are probably right. The making and selling of promotional products is now going beyond just pens and diaries. Companies are open to more innovative and unique gifts and those with a creative bent of mind can tap into this business opportunity.
They say the best advertising is one where the customers get a freebie. They are probably right. The making and selling of promotional products is now going beyond just pens and diaries. Companies are open to more innovative and unique gifts and those with a creative bent of mind can tap into this business opportunity.
Seed capital: Rs.30,000
Can be started from home? Yes
ROI period: 6 months
Resources: Read and learn on the web about various promotional products that are the trends in the world right now. Learn about innovations that made a mark overseas and how they can be adapted to India
Expected revenues: Rs.20 lakh (5 years); Rs.40 lakh (10 years)
Office requirements: One 10×10 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads)
Licensing and permissions: You will need specific permission on running a commercial business out of your home from your local authority
45. ONLINE ADVERTISING CONSULTANCY
In the rush to set up a website, many business owners fail to consider how they will advertise their site once online. In a nutshell, the role of an Internet advertising consultant is to develop an advertising program specifically created to meet a client’s particular needs. How do you optimize a website for search engines? What’s the best way to advertise a website online and offline? These are questions many businesses will pay for.
In the rush to set up a website, many business owners fail to consider how they will advertise their site once online. In a nutshell, the role of an Internet advertising consultant is to develop an advertising program specifically created to meet a client’s particular needs. How do you optimize a website for search engines? What’s the best way to advertise a website online and offline? These are questions many businesses will pay for.
Seed capital: Rs.10,000
Can be started from home? Yes
ROI period: 3 months
Resources: Read and learn on the web about SEO and SEm techniques. Read about Google Adsense and other affiliate programs
Expected revenues: Rs.20 lakh (5 years); Rs.40 lakh (10 years)
Office requirements: One 10×10 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads)
Licensing and permissions: You will need specific permission on running a commercial business out of your home from your local authority
46. WINDOW DISPLAY SERVICE
This is specifically for entrepreneurs with an eye for art and what works in the average human’s eyes. Window displays are the first line of advertising for any store, but very few get it right. A consultant can, however, educate and execute for a store its window display advertising for a fee. And there are many stores in India, in all its cities.
This is specifically for entrepreneurs with an eye for art and what works in the average human’s eyes. Window displays are the first line of advertising for any store, but very few get it right. A consultant can, however, educate and execute for a store its window display advertising for a fee. And there are many stores in India, in all its cities.
Seed capital: Rs.10,000
Can be started from home? Yes
ROI period: 3 months
Resources: Read and learn on the web about how stores abroad go about widow displays. Some of the world’s biggest stores have entire departments dedicated to window displays
Expected revenues: Rs.15 lakh (5 years); Rs.30 lakh (10 years)
Office requirements: One 10×10 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads)
Licensing and permissions: You will need specific permission on running a commercial business out of your home from your local authority
47. IMAGE CONSULTANCY
This business idea has as much to do with clothing as it has to do with shaping a person’s personality. An image stylist can bring to an individual great clothes and the confidence to carry it off. And in a world where image is everything, this is an idea worth emulating by all those with a sense for fashion.
This business idea has as much to do with clothing as it has to do with shaping a person’s personality. An image stylist can bring to an individual great clothes and the confidence to carry it off. And in a world where image is everything, this is an idea worth emulating by all those with a sense for fashion.
Seed capital: Rs.10,000
Can be started from home? Yes
ROI period: Immediate
Resources: A sense for fashion and perhaps some qualification from institutes such as National Institute of Fashion Technology
Expected revenues: Rs.15 lakh (5 years); Rs.40 lakh (10 years)
Office requirements: One 10×10 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads) and loads of fashion catalogues
Licensing and permissions: You will need specific permission on running a commercial business out of your home from your local authority
48. APPAREL MAINTENANCE
While most rich people collect expensive clothing and shoes by the trucks, they do not really know much about how to take care of them and maintain them. This is as much a science as it is an art. A student of fashion can turn it into a business idea as long as he or she is patient with the processes.
While most rich people collect expensive clothing and shoes by the trucks, they do not really know much about how to take care of them and maintain them. This is as much a science as it is an art. A student of fashion can turn it into a business idea as long as he or she is patient with the processes.
Seed capital: Rs.40,000
Can be started from home? Yes
ROI period: 3 months
Resources: Read and learn more about how shoes and apparel need to be washed and taken care of
Expected revenues: Rs.10 lakh (5 years); Rs.30 lakh (10 years)
Office requirements: One 10×10 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), washing solutions, washing machines and dryers
Licensing and permissions: You will need specific permission on running a commercial business out of your home from your local authority
49. FASHION ACCESSORIES
While making clothes and shoes would be a stretch for most fashion students, accessories are a more realistic option for their first steps into selling fashion. Accessories like bangles, earrings, small bags etc. can be designed and created on a budget and then retailed through small neighborhood stores at first. If they take off, the sky is the limit.
While making clothes and shoes would be a stretch for most fashion students, accessories are a more realistic option for their first steps into selling fashion. Accessories like bangles, earrings, small bags etc. can be designed and created on a budget and then retailed through small neighborhood stores at first. If they take off, the sky is the limit.
Seed capital: Rs.50,000 (Buying raw material)
Can be started from home? Yes
ROI period: 3 months
Resources: Read and learn about the latest trends in fashion accessories. Institutes like the National Institute of Fashion Technology teach these in their long courses
Expected revenues: Rs.15 lakh (5 years); Rs.30 lakh (10 years)
Office requirements: One 10×10 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads) and at least 1 assistant
Licensing and permissions: You will need specific permission on running a commercial business out of your home from your local authority
50. FASHION DESIGN CLASSES
Now, fashion design is just not a course that can be taught at big institutes to a handful of students. A qualified fashion designer could also consider giving hobby classes in fashion to amateur fashionistas as well as young boys and girls in school interested in the craft. This business is best run locally, and is a yet-untapped one.
Now, fashion design is just not a course that can be taught at big institutes to a handful of students. A qualified fashion designer could also consider giving hobby classes in fashion to amateur fashionistas as well as young boys and girls in school interested in the craft. This business is best run locally, and is a yet-untapped one.
Seed capital: Rs.10,000 (Assuming you have space)
Can be started from home? Yes
ROI period: 3 months
Resources: Get a qualification from institutes like the National Institute of Fashion Technology or the National Institute of Fashion Design
Expected revenues: Rs.15 lakh (5 years); Rs.30 lakh (10 years)
Office requirements: One 10×10 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads)
Licensing and permissions: You will need specific permission on running a commercial business out of your home from your local authority
51. APPAREL RENTAL SERVICE
Yes, not all of us can afford expensive clothes and bags. But can we rent it? Absolutely. In this business, the entrepreneur can keep a stock of current and trendy fashion wear as well as the classics in stock, which can then be rent out on a per night or week basis. These can then be sold once they are past their shelf life. The business can boom especially amongst the youth who want stylish clothes on special occasions but can’t necessarily buy it.
Seed capital: Rs.5 lakh (Buying stock)
Can be started from home? Yes
ROI period: 1 year
Resources: Read and learn about the latest trends in fashion. Institutes like the National Institute of Fashion Technology are also a good resource to see what is in fashion
Expected revenues: Rs.25 lakh (5 years); Rs.50 lakh (10 years)
Office requirements: One 10×10 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads) and at least 1 assistant
Licensing and permissions: You will need specific permission on running a commercial business out of your home from your local authority
52. SPACE RENTALS
Musical bands and performers have always had a difficult time securing space for rehearsing their acts and numbers, and starting a business that rents rehearsal space to musicians by the hour, day, week or month is a fantastic new enterprise to get rolling. Ideally, this will be established on leased premises in an industrial building so that noise won’t be a concern or become a problem. Additionally, the spaced that’s leased for the rehearsal space should also be subdivided into a few smaller rehearsal rooms to accommodate more than one customer at a time.
Musical bands and performers have always had a difficult time securing space for rehearsing their acts and numbers, and starting a business that rents rehearsal space to musicians by the hour, day, week or month is a fantastic new enterprise to get rolling. Ideally, this will be established on leased premises in an industrial building so that noise won’t be a concern or become a problem. Additionally, the spaced that’s leased for the rehearsal space should also be subdivided into a few smaller rehearsal rooms to accommodate more than one customer at a time.
Seed capital: Rs.5 lakh (Leasing space)
Can be started from home? No
ROI period: 1 year
Resources: Network within the Indian music scene. Approach bands directly. Your name is bound to spread via word-of-mouth
Expected revenues: Rs.25 lakh (5 years); Rs.50 lakh (10 years)
Office requirements: One 10×10 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads) and loads of sound equipment for hire
Licensing and permissions: You will need specific permission from the local corporation regarding sound limits in some cities
53. DISC JOCKEY SERVICE
One of the best part-time entertainment businesses that can be started is a disc jockey or DJ service, as not only are they are in high demand, the monthly operating overheads are also virtually nonexistent. Potential clients for a disc jockey service can include event planners, wedding planners, tour operators, nightclub owners, and the individual consumer seeking to secure disc jockey services for a celebration or event.
One of the best part-time entertainment businesses that can be started is a disc jockey or DJ service, as not only are they are in high demand, the monthly operating overheads are also virtually nonexistent. Potential clients for a disc jockey service can include event planners, wedding planners, tour operators, nightclub owners, and the individual consumer seeking to secure disc jockey services for a celebration or event.
Seed capital: Rs.5 lakh-Rs.10 lakh (DJ equipment)
Can be started from home? Yes
ROI period: 1 to 2 years
Resources: One can learn DJing at most audio schools like the SAE Mumbai or a better bet is to hire a DJ for your service
Expected revenues: Rs.30 lakh (5 years); Rs.50 lakh (10 years)
Office requirements: One 10×10 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads) and loads of sound equipment
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority. Also, a DJ might need to get the phonographic license on his own
54. MUSIC LESSONS
If you are a musician, then there is no greater joy you should have than setting up a business where you can pass on your skill to others. Kids in urban India are now much aware of the music scene and wish to learn and play some of the instruments their idols play. This is a high-revenue business if you are talented and can market yourself well.
If you are a musician, then there is no greater joy you should have than setting up a business where you can pass on your skill to others. Kids in urban India are now much aware of the music scene and wish to learn and play some of the instruments their idols play. This is a high-revenue business if you are talented and can market yourself well.
Seed capital: Rs.10,000
Can be started from home? Yes
ROI period: Immediate
Resources: Your music skills. And a bit of patience
Expected revenues: Rs.20 lakh (5 years); Rs.40 lakh (10 years)
Office requirements: One 10×10 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads) and loads of sound equipment
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority
55. RECORDING STUDIO
The capital required to start a sound recording studio is gigantic. However, the profits that the business can potentially generate are even larger. Starting a sound recording studio is much easier than it was at one time, simply because of the advancement in technology. Many recording studios that specialize in voiceovers for radio advertising, CD recording and DVD recording are even home-based operations. However, any one who doesn’t have experience in the recording industry is well-advised to stay clear of this particular business opportunity.
The capital required to start a sound recording studio is gigantic. However, the profits that the business can potentially generate are even larger. Starting a sound recording studio is much easier than it was at one time, simply because of the advancement in technology. Many recording studios that specialize in voiceovers for radio advertising, CD recording and DVD recording are even home-based operations. However, any one who doesn’t have experience in the recording industry is well-advised to stay clear of this particular business opportunity.
Seed capital: Rs.20 lakh
Can be started from home? Yes
ROI period: 2 years
Resources: Your experience as a music professional will come in handy here. It would also be good to consult recording industry professionals time to time
Expected revenues: Rs.50 lakh (5 years); Rs.2 crore (10 years)
Office requirements: One 10×10 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), loads of sound equipment, sound proofing equipment, at least 2 assistants
Licensing and permissions: You will need a specific permission from the local corporation regarding sound limits in some cities. You will also need a specific permission on running a commercial business out of your home from your local authority
56. ARTISTE MANAGEMENT
This is one of the more envied businesses in the music industry. As a bootstrapper, you will have to first take on small bands, get them gigs, set up meetings, haul equipment, keep them in line etc. As a manager, you will be the one who decides what commercial direction the band will take and how you can make the best money for their sound. And hence, for yourself.
This is one of the more envied businesses in the music industry. As a bootstrapper, you will have to first take on small bands, get them gigs, set up meetings, haul equipment, keep them in line etc. As a manager, you will be the one who decides what commercial direction the band will take and how you can make the best money for their sound. And hence, for yourself.
Seed capital: Rs.10,000
Can be started from home? Yes
ROI period: 6 months
Resources: Your experience as a music professional will come in handy here. It would also be good to consult recording industry professionals time to time
Expected revenues: Rs.10 lakh (5 years); Rs.30 lakh (10 years)
Office requirements: One 10×10 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads)
Licensing and permissions: You will need specific permission on running a commercial business out of your home from your local authority
57. ROOMMATE FINDER SERVICE
Students in cities across India live with roommates. Some they chose. Some they are forced to live with. A roommate finder service that is online can help them find roommates of their choice. This is an online business that can be altered to work locally or even have listings from across India. Revenue can come from advertising from student-targeted businesses as well as sponsored apartment listings.
Students in cities across India live with roommates. Some they chose. Some they are forced to live with. A roommate finder service that is online can help them find roommates of their choice. This is an online business that can be altered to work locally or even have listings from across India. Revenue can come from advertising from student-targeted businesses as well as sponsored apartment listings.
Seed capital: Rs 50,000
Can be started from home? Yes
ROI period: 2 years
Resources: You will need to be skilled in web development to be able to maintain lower running costs for the website
Expected revenues: Rs.10 lakh (5 years); Rs.25 lakh (10 years)
Office requirements: One 10×10 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads)
Licensing and permissions: You will need specific permission on running a commercial business out of your home from your local authority
58. APARTMENT FINDER SERVICE
For students, finding a new home or apartment to rent can be a very time-consuming and daunting task. That’s why there is a need for a professional apartment and house-finder service. The service can be operated from home and on the web. You also have a couple of options in terms of fees. You can charge renters a fee to find the right place to suit their needs. Or you can charge the landlord or building owner a fee to list his or her properties with your service.
For students, finding a new home or apartment to rent can be a very time-consuming and daunting task. That’s why there is a need for a professional apartment and house-finder service. The service can be operated from home and on the web. You also have a couple of options in terms of fees. You can charge renters a fee to find the right place to suit their needs. Or you can charge the landlord or building owner a fee to list his or her properties with your service.
Seed capital: Rs.50,000
Can be started from home? Yes
ROI period: 1 year
Resources: You will need to be skilled in web development to be able to maintain lower running costs for the website
Expected revenues: Rs.15 lakh (5 years); Rs.30 lakh (10 years)
Office requirements: One 10×10 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads)
Licensing and permissions: You will need specific permission on running a commercial business out of your home from your local authority
59. SCHOLARSHIP FINDER SERVICE
Every year students vie for educational scholarships, and one of the most difficult challenges facing them is trying to keep track and up-to-date with the thousands of different scholarships that are offered each year. Developing a website that features information about scholarships can be a terrific way for parents and students to learn more about particular scholarships and the required criteria. This type of online business could earn revenue in a few ways, such as charging students and parents a yearly membership fee for access to the site or charging educational facilities and scholarship advisory boards a fee to post their scholarship information.
Every year students vie for educational scholarships, and one of the most difficult challenges facing them is trying to keep track and up-to-date with the thousands of different scholarships that are offered each year. Developing a website that features information about scholarships can be a terrific way for parents and students to learn more about particular scholarships and the required criteria. This type of online business could earn revenue in a few ways, such as charging students and parents a yearly membership fee for access to the site or charging educational facilities and scholarship advisory boards a fee to post their scholarship information.
Seed capital: Rs.50,000
Can be started from home? Yes
ROI period: 1 year
Resources: You will need to be skilled in web development to be able to maintain lower running costs for the website
Expected revenues: Rs.15 lakh (5 years); Rs.30 lakh (10 years)
Office requirements: One 10×10 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads)
Licensing and permissions: You will need specific permission on running a commercial business out of your home from your local authority
60. BUSINESS PLAN CONSULTANCY
This business idea is special to us as it is aimed at making entrepreneurs out of students. Entrepreneurship is in, if you’ve got business experience, you know how to pen a business plan, you can work with student entrepreneurs seeking financing or who simply want a business plan to use as a guide. You’ll need a solid grounding in business basics as well as good business writing skills, the ability to manipulate figures and super communication skills.
This business idea is special to us as it is aimed at making entrepreneurs out of students. Entrepreneurship is in, if you’ve got business experience, you know how to pen a business plan, you can work with student entrepreneurs seeking financing or who simply want a business plan to use as a guide. You’ll need a solid grounding in business basics as well as good business writing skills, the ability to manipulate figures and super communication skills.
Seed capital: Rs.10,000
Can be started from home? Yes
ROI period: 1 year
Resources: No extra skills required beyond your business experience
Expected revenues: Rs.15 lakh (5 years); Rs.30 lakh (10 years)
Office requirements: One 10×10 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads)
Licensing and permissions: You will need specific permission on running a commercial business out of your home from your local authority
61. PLACEMENT SERVICES
Every year, India churns out thousands of skilled graduates and post-graduates out of the management and engineering schools. But not all of them go into jobs of their own choice. A placements service for students, which works closely with them to find them the correct job, presents itself as a viable business opportunity. Students can be charged upon placement as much as businesses can be charge for the recruitment of an asset.
Seed capital: Rs.10,000
Can be started from home? Yes
ROI period: 1 year
Resources: While a qualification in human resources is helpful, this business mostly requires your networking and organizational skills
Expected revenues: Rs.15 lakh (5 years); Rs.30 lakh (10 years)
Office requirements: One 10×10 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads)
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority
62. SPECIAL SCHOOL
Start a school for children with special needs. You can run this school out of home or from a leased space. You will need to hire faculty and staff with extensive experience working with special-needs children. As a special school, you will have access to government grants and subsidies in pursuit of this noble deed. The scope of your school’s operations can be progressively made bigger as you go on.
Start a school for children with special needs. You can run this school out of home or from a leased space. You will need to hire faculty and staff with extensive experience working with special-needs children. As a special school, you will have access to government grants and subsidies in pursuit of this noble deed. The scope of your school’s operations can be progressively made bigger as you go on.
Seed capital: Rs.2 lakh (assuming you have space)
Can be started from home? Yes
ROI period: 1 year
Resources: You will need to be skilled in handling children with special needs and dealing with their unique requirements
Expected revenues: Rs.8 lakh (5 years); Rs.20 lakh (10 years)
Office requirements: One 10×10 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads)
Licensing and permissions: You will need specific permission on running a commercial business out of your home from your local authority. You will also need permission from the charity commissioner
63. SUSTAINABLE HOUSING
This one is for the architects amongst our readers. Many Indians in rural India still do not have access topucca housing that is cheap to build and easy to maintain. Using best practices and local materials, it is possible to build sustainable housing in such areas for a vast number of people. This is a social business with a direct impact.
This one is for the architects amongst our readers. Many Indians in rural India still do not have access topucca housing that is cheap to build and easy to maintain. Using best practices and local materials, it is possible to build sustainable housing in such areas for a vast number of people. This is a social business with a direct impact.
Seed capital: Rs.50,000
Can be started from home? Yes
ROI period: 2 years
Resources: You will need to be skilled in the science of sustainable housing in Indian conditions. Various online resources are available for such housing techniques
Expected revenues: Rs.10 lakh (5 years); Rs.20 lakh (10 years)
Office requirements: One 10×10 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), and architect’s tools
Licensing and permissions: You will need specific permission on running a commercial business out of your home from your local authority
64. CLEAN AND CHEAP ENERGY
Given that almost one-fourth of India still lives in darkness, including 1,25,000 villages, the supply of clean and cheap energy becomes vital to the nation as a whole. Entrepreneurs can get into this social business via the solar route and supplying solar lanterns as well as panels for housing in rural areas. Given that the cost of solar PV cells is going down fast, such solutions can soon be implemented on a large scale.
Given that almost one-fourth of India still lives in darkness, including 1,25,000 villages, the supply of clean and cheap energy becomes vital to the nation as a whole. Entrepreneurs can get into this social business via the solar route and supplying solar lanterns as well as panels for housing in rural areas. Given that the cost of solar PV cells is going down fast, such solutions can soon be implemented on a large scale.
Seed capital: Rs.5 lakh
Can be started from home? Yes
ROI period: 3 years
Resources: You will need to be skilled in the science of solar power technology and the low-cost models of harnessing it
Expected revenues: Rs.10 lakh (5 years); Rs.20 lakh (10 years)
Office requirements: One 10×10 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads)
Licensing and permissions: You will need specific permission on running a commercial business out of your home from your local authority
65. PEER-TO-PEER LENDING
While the microfinance business model has come under scrutiny in some states like Andhra Pradesh, peer-to-peer lending is still a viable social business if implemented and regulated correctly. Since the business works on an individual model, there is no institutional or mass risk on either side of the lending. It gives an individual the right to choose who he wishes to fund and to what extent. This would preferably be a web-based business.
While the microfinance business model has come under scrutiny in some states like Andhra Pradesh, peer-to-peer lending is still a viable social business if implemented and regulated correctly. Since the business works on an individual model, there is no institutional or mass risk on either side of the lending. It gives an individual the right to choose who he wishes to fund and to what extent. This would preferably be a web-based business.
Seed capital: Rs.50,000
Can be started from home? Yes
ROI period: 1 year
Resources: You will need to be skilled in web development to be able to maintain lower running costs for the website. You would also need to research and choose individuals in the rural areas who may need loans
Expected revenues: Rs.15 lakh (5 years); Rs.30 lakh (10 years)
Office requirements: One 10×10 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads)
Licensing and permissions: You will need specific permission on running a commercial business out of your home from your local authority
66. FIRST AID
This business idea is aimed at reducing fatalities in cities and towns across India. It involves providing low-cost first-aid training for individuals and organizations as well as supplying low-cost first-aid kits that can be specially designed and marketed to specific industries, such as construction and transportation for rural areas where such facilities are scarce. The business is amongst the most-needed one in India as of now.
This business idea is aimed at reducing fatalities in cities and towns across India. It involves providing low-cost first-aid training for individuals and organizations as well as supplying low-cost first-aid kits that can be specially designed and marketed to specific industries, such as construction and transportation for rural areas where such facilities are scarce. The business is amongst the most-needed one in India as of now.
Seed capital: Rs.5 lakh
Can be started from home? Yes
ROI period: 2 years
Resources: You will need to be skilled in first-aid yourself and preferably have certification. You would also need to source the best and most cost-effective material for making the first-aid kits
Expected revenues: Rs.25 lakh (5 years); Rs.50 lakh (10 years)
Office requirements: One 10×10 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), packaging material and teaching tools
Licensing and permissions: You will need specific permission on running a commercial business out of your home from your local authority
67. SPECIALTY TRAVEL AGENCY
At the base of it, what you need is an eye for what trends are catching up with travelers and what needs are they looking to be fulfilled. They want to travel with their pets? Find them a pet-friendly airline and resort. They want take children taken care of? Find and book one with a nanny service. Be the concierge for your client, even before the trip has begun.
At the base of it, what you need is an eye for what trends are catching up with travelers and what needs are they looking to be fulfilled. They want to travel with their pets? Find them a pet-friendly airline and resort. They want take children taken care of? Find and book one with a nanny service. Be the concierge for your client, even before the trip has begun.
Seed capital: Rs.10,000-Rs.2 lakh
Can be started from home? Yes
ROI period: 6 months
Resources: Study courses available at Kuoni Academy, Amity Institute for Travel and Tourism and the Indian Institute of Tourism and Travel Management
Expected revenues: Rs.10 lakh (5 years); Rs.30 lakh (10 years)
Office requirements: 10×10 room as office space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), no manpower
Licensing and permissions: You will need a license from the Ministry of Tourism, Government of India
68. GUIDED TOURS
Do you live in a place that is catching up on the world tourist map? Can you hold your own with English and maybe a couple of other languages? Are you social by nature? Then this may be just the right business for you. Walk them, cycle with them or even take them around in your car. Just show your clients your city like only you, a local, can.
Do you live in a place that is catching up on the world tourist map? Can you hold your own with English and maybe a couple of other languages? Are you social by nature? Then this may be just the right business for you. Walk them, cycle with them or even take them around in your car. Just show your clients your city like only you, a local, can.
Seed capital: Rs.10,000-Rs.20,000
Can be started from home? Yes
ROI period: Immediate
Resources: You can take short courses at Kuoni Academy, Amity Institute for Travel and Tourism and the Indian Institute of Tourism and Travel Management
Expected revenues: Rs.10 lakh (5 years); Rs.30 lakh (10 years)
Office requirements: 10×10 room as office space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), no manpower
Licensing and permissions: You will need a license from the Ministry of Tourism, Government of India, as well as a local tourist operator license, if applicable
69. ADVENTURE SPORTS OUTFIT
In the last budget, the government made the import of adventure equipment into the country free of tax. Which means all that expensive gear is going to get a whole lot cheaper. If you have the need for speed and you live to thrill, why don’t you do it for others too? India is your playground as far as adventure sports go.
In the last budget, the government made the import of adventure equipment into the country free of tax. Which means all that expensive gear is going to get a whole lot cheaper. If you have the need for speed and you live to thrill, why don’t you do it for others too? India is your playground as far as adventure sports go.
Seed capital: Rs.10,000-Rs.20 lakh (Depending on what kind of sports you will offer)
Can be started from home? Yes
ROI period: 1 to 3 years
Resources: Depending on your need. For example, you can study mountaineering at the Himalayan Institute of Mountaineering or the Nehru Institute of Mountaineering
Expected revenues: Rs.30 lakh (5 years); Rs.50 lakh (10 years)
Office requirements: 10×10 room as office space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), two to three assistants, adventure equipment, radios, first aid kits etc
Licensing and permissions: You will need a license from the Ministry of Tourism, Government of India. Then you will need specific permissions, like you may need permissions from the Indian Mountaineering Federation to climb peaks above a certain height
70. MOTORCYCLE EXPEDITIONS
Thanks to bigger and better motorcycles coming into India, the urge to go across the length and breadth of the country on two wheels is increasing amongst the 9 to 5 crowd. A good evidence of this is the few thousands of motorcycles you see climbing up to Leh during the open season. And the growing number of yuppies and motorcycles only means that you have a fabulous business opportunity. Just know your roads.
Thanks to bigger and better motorcycles coming into India, the urge to go across the length and breadth of the country on two wheels is increasing amongst the 9 to 5 crowd. A good evidence of this is the few thousands of motorcycles you see climbing up to Leh during the open season. And the growing number of yuppies and motorcycles only means that you have a fabulous business opportunity. Just know your roads.
Seed capital: Rs.20 lakh-Rs.1 crore (Depending on what kind of motorcycles you will offer)
Can be started from home? Yes
ROI period: 3 to 5 years
Resources: No formal training needed besides the ability to ride. First-aid courses recommended
Expected revenues: Rs.30 lakh (5 years); Rs.1 crore (10 years)
Office requirements: 10×10 room as office space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), 3 to 4 co-riders, riding gear, first aid kits, radios
Licensing and permissions: You will need a license from the Ministry of Tourism, Government of India. Then you will need specific permissions to enter certain remote parts. You will also need RTO licenses for motorcycles classified under tourist vehicles.
71. BED AND BREAKFAST
Slowly catching up in India, even after the debacle of the Commonwealth Games, when the tourists did not show up in the same numbers for the Games as expected. Still represents a very lucrative out-of-home business opportunity for people with some extra space and a sunshine attitude to life.
Slowly catching up in India, even after the debacle of the Commonwealth Games, when the tourists did not show up in the same numbers for the Games as expected. Still represents a very lucrative out-of-home business opportunity for people with some extra space and a sunshine attitude to life.
Seed capital: Rs 20,000 (assuming you already have the a suitable house)
Can be started from home? Yes
ROI period: Immediate
Resources: The state tourism board is your best option for assistance and standards in this case
Expected revenues: Rs.12 lakh (5 years); Rs.20 lakh (10 years)
Office requirements: 10×10 room as office space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), 1 extra assistant
Licensing and permissions: You will need a license from the Ministry of Tourism, Government of India. Then you will need specific permissions from your local tourism board.
72. CHILD CARE CENTER
The population is still growing. And so are the number nuclear families where both parents tend to work. As such, taking care of the child becomes a heavy job parents are ready to outsource, as long it is advantageous towards the child and of a certain quality. Day care centers not only take care of the child, but also educate him along the way.
The population is still growing. And so are the number nuclear families where both parents tend to work. As such, taking care of the child becomes a heavy job parents are ready to outsource, as long it is advantageous towards the child and of a certain quality. Day care centers not only take care of the child, but also educate him along the way.
Seed capital: Rs.5 lakh-Rs.10 lakh (Depending on the size of your center)
Can be started from home? Yes
ROI period: 1 to 2 years
Resources: Best to go with a franchise in the child care business, as you will not only get adequate support, but also training for your staff
Expected revenues: Rs.20 lakh (5 years); Rs.40 lakh (10 years)
Office requirements: Four 10×10 rooms minimum as office/care space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), 2 to 3 assistants, first aid kit, toys, education books and equipment etc
Licensing and permissions: You will need a license from your local authority to run a child care business out of your home. In some cases, fire safety certification may also be needed
73. TUTORING SERVICES
Children don’t study much at school these days. While this statement might seem wrong to you, it is reflective of our educational system where children at the end of high school, looking to get into colleges, need extra help outside to crack competitive exams. If you are a qualified teacher, there is more money to be made here than in a school.
Children don’t study much at school these days. While this statement might seem wrong to you, it is reflective of our educational system where children at the end of high school, looking to get into colleges, need extra help outside to crack competitive exams. If you are a qualified teacher, there is more money to be made here than in a school.
Seed capital: Rs.10,000-Rs.30,000 (Assuming you have the space)
Can be started from home? Yes
ROI period: 1 year
Resources: You need qualifications. Besides your basic graduate degree, get an advanced degree in your field of study as well as Bachelor of Education from an accredited university
Expected revenues: Rs.15 lakh (5 years); Rs.20 lakh (10 years)
Office requirements: 20×20 room as teaching/office space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), no manpower
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority. In some cases, fire safety certification may also be needed
74. OVERSEAS EDUCATION GUIDANCE
Though the Indian story is booming, there is still no decline in the love and prestige foreign universities and their degrees hold for Indian students. It speaks sadly of our education system, but nevertheless presents a business opportunity for entrepreneurs willing to dive deep into the world of foreign varsities. With a steady stream of clientele ensured, this is a business option best not ignored.
Seed capital: Rs.10,000-Rs.30,000 (Assuming you have the space)
Can be started from home? Yes
ROI period: 6 months to 1 year
Resources: You need certain necessary educational qualifications. Get an advanced degree in your field of study from an accredited university. Link up with government entities overseas that look into international student admissions. For example, for the U.S., link up with Education USA
Expected revenues: Rs.20 lakh (5 years); Rs.30 lakh (10 years)
Office requirements: 10×10 room as office space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), 1 assistant
Licensing and permissions: You will need specific permission to run a commercial business out of your home from your local authority. In some cases, certification may also be needed from governmental agencies overseas
75. CAREER COUNSELING
Not everyone wants to be an engineer or a doctor anymore. With a booming economy, there are careers in almost every field. And parents and children alike are now eager to go left of the center. Exploring these avenues and helping match children to them is what career counseling is all about.
Not everyone wants to be an engineer or a doctor anymore. With a booming economy, there are careers in almost every field. And parents and children alike are now eager to go left of the center. Exploring these avenues and helping match children to them is what career counseling is all about.
Seed capital: Rs.10,000-Rs.30,000 (Assuming you have the space)
Can be started from home? Yes
ROI period: 6 months to 1 year
Resources: While a career counselor does not need a specific degree, a qualification in child psychology helps in evaluation of subjects. Many psychologists do turn towards career counseling as well
Expected revenues: Rs.10 lakh (5 years); Rs.20 lakh (10 years)
Office requirements: 10×10 room as office space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), 1 assistant
Licensing and permissions: You will need specific permission to run a commercial business out of your home from your local authority
76. REVOLVING LIBRARY
It may seem like the most ancient of businesses, but a library for school and competitive exam books has more takers than you would imagine, especially in small towns. Out of the metros, children in grade II towns still want to have access to as many books as possible. These books don’t come cheap and, hence, their preference to borrow or rent. And no, the Internet has not yet eaten the schoolbook.
It may seem like the most ancient of businesses, but a library for school and competitive exam books has more takers than you would imagine, especially in small towns. Out of the metros, children in grade II towns still want to have access to as many books as possible. These books don’t come cheap and, hence, their preference to borrow or rent. And no, the Internet has not yet eaten the schoolbook.
Seed capital: Rs.20,000-Rs.50,000 (Depending on the number of books you want to stock)
Can be started from home? Yes
ROI period: 2 years
Resources: You need to be well-informed about the books that school and college children want to borrow. It would help if you are a teacher or have a teacher as your guide here
Expected revenues: Rs.5 lakh (5 years); Rs.10 lakh (10 years)
Office requirements: Two 20×20 rooms as office/stock/reading space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), no manpower
Licensing and permissions: You will need specific permission to run a commercial business out of your home from your local authority. You may also need fire safety certification if you are going to have a reading room
77. PERSONAL SHOPPING SERVICE
This one is for all those budding fashionistas out there. A personal shopper goes shopping based on a customer’s list or accompanies them to pick out that perfect outfit or even an entire wardrobe. It’s a low-cost business setup that is mostly an extension of your personality.
This one is for all those budding fashionistas out there. A personal shopper goes shopping based on a customer’s list or accompanies them to pick out that perfect outfit or even an entire wardrobe. It’s a low-cost business setup that is mostly an extension of your personality.
Seed capital: Rs.10,000
Can be started from home? Yes
ROI period: Immediate
Resources: You need to be well-informed of the latest fashion trends at home, office and play. Short fashion appreciation course can be taken at institutes like National Institute of Fashion Technology or its private peer, the National Institute of Fashion Design
Expected revenues: Rs.10 lakh (5 years); Rs.20 lakh (10 years)
Office requirements: One 10×10 room as office/stock/reading space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), and lots of catalogues
Licensing and permissions: You will need specific permission to run a commercial business out of your home from your local authority
78. ONLINE STORE
Selling online is the easiest way to sell anything. And more importantly, you can sell it to the world and not just to the neighborhood. The key here is to know your product and the market for it. Whether going niche or mass market, an entrepreneur here will always have the flexibility to tweak his business model later. This is something prohibitively expensive to do with a physical store.
Selling online is the easiest way to sell anything. And more importantly, you can sell it to the world and not just to the neighborhood. The key here is to know your product and the market for it. Whether going niche or mass market, an entrepreneur here will always have the flexibility to tweak his business model later. This is something prohibitively expensive to do with a physical store.
Seed capital: Rs.50,000-Rs.2 lakh (Depending on what you sell and whether you outsource your IT )
Can be started from home? Yes
ROI period: 1 to 2 years
Resources: The Internet is your best resource on hot tips to sell online. For more tips and guidelines, visitentrepreneurindia.in or entreprneur.com. Also, connect with the major shipping firms to find out who will give you the best deal
Expected revenues: Rs.15 lakh (5 years); Rs.30 lakh (10 years), but depends a lot on what you are selling
Office requirements: One 20×20 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), merchant account
Licensing and permissions: You will need specific permission to run a commercial business out of your home from your local authority. You have to stick to eBay’s policies on items that you can or cannot sell as well as their strict policy against intellectual property infringement
79. PERSONALIZED GIFTS
An all-season business idea, the concept of personalized gifts has taken off with both personal and professional gifting growing as a trend. Everyone wants to give the perfect gift, one that is customized to suit the giver, the recipient, the occasion and the budget. You could be making a customized chocolate box one day or a corporate gift set on another. You could be arranging for a date on a chartered plane or gold plating an iPhone. What you can be doing under this business is limitless, both in creativity and fun.
An all-season business idea, the concept of personalized gifts has taken off with both personal and professional gifting growing as a trend. Everyone wants to give the perfect gift, one that is customized to suit the giver, the recipient, the occasion and the budget. You could be making a customized chocolate box one day or a corporate gift set on another. You could be arranging for a date on a chartered plane or gold plating an iPhone. What you can be doing under this business is limitless, both in creativity and fun.
Seed capital: Rs.10,000
Can be started from home? Yes
ROI period: Immediate
Resources: You need to be well-informed of the latest gifting trends at home and office. The Internet is your best resource for that
Expected revenues: Rs.15 lakh (5 years); Rs.30 lakh (10 years)
Office requirements: One 10×10 room as office/stock/reading space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), and lots of catalogues
Licensing and permissions: You will need specific permission to run a commercial business out of your home from your local authority.
80. eBAY BUSINESS
ebay is the best thing to happen to armchair entrepreneurs since the armchair itself. eBay lets you start off with the most minimal of costs to reach the most maximum of audiences. It lets you sell products across 2,000 categories. Reselling of products and even distributing products officially for companies is a done thing on eBay. You could even sell Indian products overseas and vice versa. The world is your market.
ebay is the best thing to happen to armchair entrepreneurs since the armchair itself. eBay lets you start off with the most minimal of costs to reach the most maximum of audiences. It lets you sell products across 2,000 categories. Reselling of products and even distributing products officially for companies is a done thing on eBay. You could even sell Indian products overseas and vice versa. The world is your market.
Seed capital: Rs.50,000 (If you are first going to buy products to resell)
Can be started from home? Yes
ROI period: 1 year
Resources: Go to eBay.com to learn more about selling on the site. Also, visit the entrepreneur.comwebsite to explore the various articles on how best to open and run an eBay store
Expected revenues: Rs.15 lakh (5 years); Rs.30 lakh (10 years), but depends a lot on what you are selling
Office requirements: One 20×20 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), merchant account
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority. You have to stick to eBay’s policies on items that you can or cannot sell as well as their strict policy against intellectual property infringement
81. VENDING MACHINES
Thanks to big IT and BPO offices and a whole generation brought up on western culture, vending machines are just ‘cool’ enough to be accepted in India. These machines can stock anything from chocolates and ice-creams to beverages of all kinds. Starting up here might be a tad more expensive than other retail businesses, but the running costs are much lower. Placement of vending machines and the stock will make or break it for you though.
Seed capital: Rs.50,000 (cost of one vending machine + location rent) or Rs.10,000 (If renting the machine)
Can be started from home? No
ROI period: 1 year
Resources: The National Automatic Merchandising Association is the go-to association for all support and information in this case
Expected revenues: Rs.5 lakh (5 years); Rs.20 lakh (10 years), but depends a lot on what you are selling
Office requirements: One 10×10 room as office space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), merchant account
Licensing and permissions: You will need a specific permission from the location owner to set up a vending machine. You might also need a fire safety certificate from the local fire department if the location is inside a mall or an office
82. EVENT MANAGEMENT
The oldest but the most evergreen business idea in the field of entertainment is event management. If you have a flair for organization amongst chaos and a zest for working odd hours, this is the business for you. The scope of event management in India has grown far and wide. You could be organizing hen parties or wine-tasting sessions or even children’s theme parties. The scope is as big as your appetite for new event ideas.
The oldest but the most evergreen business idea in the field of entertainment is event management. If you have a flair for organization amongst chaos and a zest for working odd hours, this is the business for you. The scope of event management in India has grown far and wide. You could be organizing hen parties or wine-tasting sessions or even children’s theme parties. The scope is as big as your appetite for new event ideas.
Seed capital: Rs.30,000
Can be started from home? Yes
ROI period: 1 to 2 years
Resources: You can get formal education at institutes like the National Institute of Event Management. A better bet is to assist an event planner for sometime before going out on your own
Expected revenues: Rs.30 lakh (5 years); Rs.50 lakh (10 years)
Office requirements: One 20×20 room as office space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), and at least 2 assistants
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority. You will also need to take specific licenses as an event manager. For example, the phonographic license to play copyrighted music at events. Or the entertainment tax certificate from the local authority
83. BARTENDING OUTFIT
This is an entirely new concept in India. However, it is one that can pay well in urban locations and can be done part time as well by the entrepreneurs. Parties in urban India have become bigger and better than before. But for them to be complete, you need excellent and classy bartenders. Not just drink makers, but bartenders who can hold a conversation as much as they can juggle a few bottles. That’s where a bartending outfit can come in.
This is an entirely new concept in India. However, it is one that can pay well in urban locations and can be done part time as well by the entrepreneurs. Parties in urban India have become bigger and better than before. But for them to be complete, you need excellent and classy bartenders. Not just drink makers, but bartenders who can hold a conversation as much as they can juggle a few bottles. That’s where a bartending outfit can come in.
Seed capital: Rs.10,000
Can be started from home? Yes
ROI period: Immediate
Resources: Hotel management schools teach bartending as part of the Food and Beverage Service subject. The STIR Academy of Bartending, the Flaming Trio Bartending Academy, and the Hospitality Training Institute, also have short and long courses on the subject
Expected revenues: Rs.10 lakh (5 years); Rs.25 lakh (10 years)
Office requirements: One 10×10 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads)
Licensing and permissions: You will need specific permission to run a commercial business out of your home from your local authority
84. BOOKING AGENCY
A booking agency is a fun and profitable way to work in the world of entertainment. A booking agency’s mandate is to seek out opportunities in the entertainment industry, such as booking music bands for nightclub performances, theater groups for stage performances, etc. Generally, a booking agency does not represent or act as management for entertainers, but merely builds alliances with entertainers and retains a portion of the performance fee paid to entertainers for work the agent has secured
A booking agency is a fun and profitable way to work in the world of entertainment. A booking agency’s mandate is to seek out opportunities in the entertainment industry, such as booking music bands for nightclub performances, theater groups for stage performances, etc. Generally, a booking agency does not represent or act as management for entertainers, but merely builds alliances with entertainers and retains a portion of the performance fee paid to entertainers for work the agent has secured
Seed capital: Rs.10,000
Can be started from home? Yes
ROI period: 6 months
Resources: Would help if you have qualification in event management, but your social networking skills are the best training you need
Expected revenues: Rs.20 lakh (5 years); Rs.30 lakh (10 years)
Office requirements: One 10×10 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads)
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority
85. KARAOKE DJ SERVICE
The next best thing to hit parties after the disc jockey. A Karaoke Jockey business is in big demands these days, especially at corporate events, bars, and even weddings. And the best bit about it is that you do not need to be a student of music here, just an avid follower. This business is booming right now and wannabe disc jockeys may want to look at it for a start.
The next best thing to hit parties after the disc jockey. A Karaoke Jockey business is in big demands these days, especially at corporate events, bars, and even weddings. And the best bit about it is that you do not need to be a student of music here, just an avid follower. This business is booming right now and wannabe disc jockeys may want to look at it for a start.
Seed capital: Rs.1 lakh
Can be started from home? Yes
ROI period: Immediate
Resources: No training required. But the Internet is a good place to see the latest trends at karaoke bars. Also, you can get cheaper and better karaoke CDs in China and South-East Asia
Expected revenues: Rs.20 lakh (5 years); Rs.35 lakh (10 years)
Office requirements: One 10×10 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), karaoke equipment, CDs and sound systems
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority. Might also need a phonographic license to play copyrighted music
86. POKER PARTY SERVICE
Do you know your poker? Have you played online poker to the death? Why don’t you go teach others then? Poker is taking the party world by storm in India. A game that had no takers till a year back has now tournaments held almost every month. Everyone wants to learn and everyone wants to play socially. This is a money-spinner that will spin some money for you as well.
Do you know your poker? Have you played online poker to the death? Why don’t you go teach others then? Poker is taking the party world by storm in India. A game that had no takers till a year back has now tournaments held almost every month. Everyone wants to learn and everyone wants to play socially. This is a money-spinner that will spin some money for you as well.
Seed capital: Rs.10,000
Can be started from home? Yes
ROI period: Immediate
Resources: The Internet. That’s the best place to learn about poker and also how best to organize such parties
Expected revenues: Rs.10 lakh (5 years); Rs.20 lakh (10 years)
Office requirements: One 10×10 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), poker sets, card tables and chairs
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority
87. QUICK SERVICE RESTAURANT
This is the fastest-growing format in the restaurant industry, the charge of which is being led by the franchises. Middle-class Indians, especially in big towns, do not have the time and patience for long, sit down and elaborate meals. Eating on the go is the norm for such professionals. What also helps is that many of these restaurants are from food franchises that have a bit of premium attached to them in India. For example, a Subway or a McDonald’s.
This is the fastest-growing format in the restaurant industry, the charge of which is being led by the franchises. Middle-class Indians, especially in big towns, do not have the time and patience for long, sit down and elaborate meals. Eating on the go is the norm for such professionals. What also helps is that many of these restaurants are from food franchises that have a bit of premium attached to them in India. For example, a Subway or a McDonald’s.
Seed capital: Rs.1 lakh-Rs.20 lakh (Depends on location or whether own brand or franchise)
Can be started from home? No
ROI period: 3 years
Resources: Hotel management schools are a good place to see how kitchens run. Schools like the Dadar Catering College in Mumbai run long courses, which have the restaurant bit taught within. Crucially, franchise\ors also give training
Expected revenues: Rs.30 lakh (5 years); Rs.50 lakh (10 years)
Office requirements: One 10×10 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), extra manpower depending on operation, kitchen equipment etc
Licensing and permissions: From the local corporation, you will need your plan sanctioned, a restaurant license, and certification for sanitation and safety. From the local police, you will need a license recognizing you as a restaurant. From the fire department, you will need a no objection certificate. You will need separate licenses for serving alcohol or playing music
88. RESTAURANT DELIVERY SERVICE
This business idea is very new to India but already there are a few players in urban India. In this business, you do not make the food or resell the food. You just deliver it for a fee. This capitalizes on restaurants that do not have the capacity to take on delivery services or the reach in some areas. Typically, the business owner here will charge the customer a delivery fee for the same, and he will take orders online and on the phone as well.
This business idea is very new to India but already there are a few players in urban India. In this business, you do not make the food or resell the food. You just deliver it for a fee. This capitalizes on restaurants that do not have the capacity to take on delivery services or the reach in some areas. Typically, the business owner here will charge the customer a delivery fee for the same, and he will take orders online and on the phone as well.
Seed capital: Rs.50,000-Rs.2 lakh
Can be started from home? Yes
ROI period: 1 year
Resources: No specific training needed
Expected revenues: Rs.10 lakh (5 years); Rs.30 lakh (10 years)
Office requirements: One 10×10 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), extra manpower for delivery and order-taking
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority
89. HEALTH FOOD SERVICE
Indians are getting fatter, stated a recent study. And that spells a gold mine for nutrition experts and chefs who can combat the evil of unhealthy food. Health food catering is taking off in a more aware urban India, especially to offices, training institutes as well as homes. This is a low-cost business that needs a personal touch and knowledge of dietary requirements.
Indians are getting fatter, stated a recent study. And that spells a gold mine for nutrition experts and chefs who can combat the evil of unhealthy food. Health food catering is taking off in a more aware urban India, especially to offices, training institutes as well as homes. This is a low-cost business that needs a personal touch and knowledge of dietary requirements.
Seed capital: Rs.50,000-Rs.1 lakh
Can be started from home? Yes
ROI period: 1 year
Resources: A course in nutrition would be of help here, along with a cooking background. You can do such courses at the National Institute of Nutrition, the International life Sciences Institute and J. D. Birla Institute
Expected revenues: Rs.10 lakh (5 years); Rs.20 lakh (10 years0
Office requirements: One 10×10 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), extra manpower for delivery and kitchen staff
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority. You may also need a license from the fire department and the local corporation if you run a separate kitchen
90. ORGANIC FOOD SERVICE
Another business that is a result of a more health-conscious India is that of organic foods. Organic foods are the biggest thing in healthy eating right now, even though they come at a premium. Which, however, also means that you will always get high-end clients. Here, you don’t necessarily have to be an organic farmer. Instead, you can be a supplier who takes orders online and offline and delivers to the client’s home.
Another business that is a result of a more health-conscious India is that of organic foods. Organic foods are the biggest thing in healthy eating right now, even though they come at a premium. Which, however, also means that you will always get high-end clients. Here, you don’t necessarily have to be an organic farmer. Instead, you can be a supplier who takes orders online and offline and delivers to the client’s home.
Seed capital: Rs.50,000
Can be started from home? Yes
ROI period: 1 year
Resources: No specific training needed
Expected revenues: Rs.15 lakh (5 years); Rs.30 lakh (10 years)
Office requirements: Two 20×20 rooms as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), extra manpower for delivery and order-taking
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority. Also, you will need to make sure the produce you source is according to set organic food standards
91. COOKERY CLASSES
Call it the curse of the city life, but gone are the days when every family had cooks or the mothers and wives would stay back home for cooking. Everyone needs to know their way about their kitchen now. Also, being able to cook adds a whole new spin to hosting people as well. So, if you know how to cook and have time on your hands, you have a business idea in the kitchen.
Seed capital: Rs.50,000-Rs.1 lakh
Can be started from home? Yes
ROI period: 6 months
Resources: Theoretically, you need to be a trained chef before you can impart training to others. Such courses are best taught in hotel management and caterings schools. The Internet is also a good resource to self-train
Expected revenues: Rs.10 lakh (5 years); Rs.30 lakh (10 years)
Office requirements: Two10x10 rooms as office/kitchen space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), 1 assistant, extra kitchen equipment
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority. A separate license may also be needed if you run a separate kitchen from your corporation as well as the fire department
92. CONCIERGE SERVICE
This business continues to take off in urban India where time is short and the things to do are many. A concierge service enables a professional to get certain tasks done by paying a fee, per task or even as a package. These may include bill payments, car servicing, booking tickets, gift delivery etc. With more and more Indians getting into the professional fold, the business opportunity is huge within the corporate offices of the country.
This business continues to take off in urban India where time is short and the things to do are many. A concierge service enables a professional to get certain tasks done by paying a fee, per task or even as a package. These may include bill payments, car servicing, booking tickets, gift delivery etc. With more and more Indians getting into the professional fold, the business opportunity is huge within the corporate offices of the country.
Seed capital: Rs.50,000-Rs.1 lakh
Can be started from home? Yes
ROI period: 1 year
Resources: No specific training needed besides social skills and an ability to get things done
Expected revenues: Rs.20 lakh (5 years); Rs.50 lakh (10 years)
Office requirements: One 10×10 room as office/stock space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), extra manpower for delivery and order-taking
Licensing and permissions: You will need specific permission to run a commercial business out of your home from your local authority
93. RESUME WRITING SERVICE
This one is for the writers amongst our readers. A zero-cost business, this one works on the fact that most people have no idea how to write a winning resume. You can, however, get the job done here. You’ll interview your clients to find out where they’ve been, what they’ve done and where their talents lie, then design and write a resume that showcases them from both business and personal viewpoints. You must have excellent grammar, punctuation and spelling skills and tiptop people talents.
This one is for the writers amongst our readers. A zero-cost business, this one works on the fact that most people have no idea how to write a winning resume. You can, however, get the job done here. You’ll interview your clients to find out where they’ve been, what they’ve done and where their talents lie, then design and write a resume that showcases them from both business and personal viewpoints. You must have excellent grammar, punctuation and spelling skills and tiptop people talents.
Seed capital: Rs.10,000
Can be started from home? Yes
ROI period: Immediate
Resources: No specific training needed besides great language and social skills
Expected revenues: Rs.5 lakh (5 years); Rs.20 lakh (10 years)
Office requirements: One 10×10 room as office space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads)
Licensing and permissions: You will need specific permission to run a commercial business out of your home from your local authority
94. PERSONAL COACHING SERVICE
We live in an increasingly competitive world where failure is not as tolerated as it once was. The pressure to perform in such a world is high, both in our professional and personal lives. A personal coaching service would work with clients to help them achieve success in their professional and personal lives. The largest consumers of coaching services will be professionals who, having reached midlife, have also reached the realization that to achieve all those dreams they started out with, they need to start taking immediate action.
We live in an increasingly competitive world where failure is not as tolerated as it once was. The pressure to perform in such a world is high, both in our professional and personal lives. A personal coaching service would work with clients to help them achieve success in their professional and personal lives. The largest consumers of coaching services will be professionals who, having reached midlife, have also reached the realization that to achieve all those dreams they started out with, they need to start taking immediate action.
Seed capital: Rs.10,000
Can be started from home? Yes
ROI period: Immediate
Resources: No specific training needed besides great evaluation and mentoring skills. However, certification as a psychologist or counselor is a major bonus, and experience in human resources can also lend credence to your list of credentials
Expected revenues: Rs.7 lakh (5 years); Rs.20 lakh (10 years)
Office requirements: One 10×10 room as office space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads)
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority
95. VIRTUAL ASSISTANCE SERVICE
This is somewhat akin to a concierge service but is more personal and limited in its scope of operation. A virtual assistance service is again mostly required by professionals who don’t have time to sort out their lives by themselves. Virtual assistants offer secretarial services, but can also offer assistance in more complex areas such as marketing, graphic and web design. Here, it can be the individual who hires the assistant or even his firm. Industries most often hiring virtual assistants include the real estate, coaching, financial services, accounting and legal services.
This is somewhat akin to a concierge service but is more personal and limited in its scope of operation. A virtual assistance service is again mostly required by professionals who don’t have time to sort out their lives by themselves. Virtual assistants offer secretarial services, but can also offer assistance in more complex areas such as marketing, graphic and web design. Here, it can be the individual who hires the assistant or even his firm. Industries most often hiring virtual assistants include the real estate, coaching, financial services, accounting and legal services.
Seed capital: Rs.10,000
Can be started from home? Yes
ROI period: Immediate
Resources: No specific training needed besides great listening skills and a can-do attitude
Expected revenues: Rs.10 lakh (5 years); Rs.20 lakh (10 years)
Office requirements: One 10×10 room as office space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), extra assistants when needed
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority
96. SENIOR CARE
This involves providing non-medical care services for retirees who typically live on their own. Since their kin would largely be involved in their own work lives, seniors and family members of older relatives are looking at alternatives to old age and nursing homes. One of these alternatives is senior care service. This door-to-door home care service requires you to be a professional caregiver. Your responsibilities may include getting the laundry done, reading the newspaper out loud and preparing meals for the seniors.
This involves providing non-medical care services for retirees who typically live on their own. Since their kin would largely be involved in their own work lives, seniors and family members of older relatives are looking at alternatives to old age and nursing homes. One of these alternatives is senior care service. This door-to-door home care service requires you to be a professional caregiver. Your responsibilities may include getting the laundry done, reading the newspaper out loud and preparing meals for the seniors.
Seed capital: Rs.10,000
Can be started from home? Yes
ROI period: Immediate
Resources: No specific training needed besides great listening skills and a caring attitude
Expected revenues: Rs.7 lakh (5 years); Rs.15 lakh (10 years)
Office requirements: One 10×10 room as office space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), extra assistants when needed
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority
97. FINANCIAL PLANNING SERVICE
Everyone wants to manage their money better, be it businesses or individuals. But, at most times, they might not have the intelligence or the bandwidth to do the research and plan their financials themselves. That’s where a financial planning service can come in, doing it for a fee, and along the way letting the individual or the company focus on their core business areas or functions.
Everyone wants to manage their money better, be it businesses or individuals. But, at most times, they might not have the intelligence or the bandwidth to do the research and plan their financials themselves. That’s where a financial planning service can come in, doing it for a fee, and along the way letting the individual or the company focus on their core business areas or functions.
Seed capital: Rs.20,000
Can be started from home? Yes
ROI period: 3 months
Resources: If you are not trained already, pursue a course at an institute like the Indian institute of Financial Planning, Association of Financial Planners, International College of Financial Planning, and the Institute of Chartered Financial Analysis of India
Expected revenues: Rs.15 lakh (5 years); Rs.50 lakh (10 years)
Office requirements: One 10×10 room as office space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads)
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority. You may also need to be certified as a planner from the Financial Planning Standards Board
98. GYMNASIUM
This is a no-brainer. Starting a gym in India is a sure-shot winner, given the whole bend towards looking good, thanks to Bollywood and glam television. Gyms can be started in all towns in India, thanks to the aforementioned two. All you need is some extra space, a workout ethic of your own and a generous dose of young people in your vicinity
This is a no-brainer. Starting a gym in India is a sure-shot winner, given the whole bend towards looking good, thanks to Bollywood and glam television. Gyms can be started in all towns in India, thanks to the aforementioned two. All you need is some extra space, a workout ethic of your own and a generous dose of young people in your vicinity
Seed capital: Rs.2 lakh (Assuming you have space)
Can be started from home? Yes
ROI period: 1 to 2 years
Resources: If you are not trained already, you could take classes to train as an instructor yourself at centers such as Talwalkars, amongst others
Expected revenues: Rs.20 lakh (5 years); Rs.30 lakh (10 years)
Office requirements: One 10×10 room as office space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), 2 to 3 assistants and lots of gym equipment
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority
99. AEROBICS CLASSES
An evergreen fitness trend. Aerobics has dedicated fans in almost all parts of the country. The good bit about starting aerobics classes is that you do not really need space in the beginning — you could offer it in the park or at a client’s house. However, once the operation grows, you will need to find your own space. Of course, you need to be well-versed in aerobics yourself.
An evergreen fitness trend. Aerobics has dedicated fans in almost all parts of the country. The good bit about starting aerobics classes is that you do not really need space in the beginning — you could offer it in the park or at a client’s house. However, once the operation grows, you will need to find your own space. Of course, you need to be well-versed in aerobics yourself.
Seed capital: Rs.50,000 (Assuming you have space)
Can be started from home? Yes
ROI period: 1 year
Resources: If you are not trained already, you could also take a class to train as an instructor yourself at centers such as Talwalkars, amongst others
Expected revenues: Rs.15 lakh (5 years); Rs.25 lakh (10 years)
Office requirements: One 10×10 room as office space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), and lots of aerobics equipment such as mats, music, towels etc
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority
100. DAY SPA
The spa is the biggest rage in urban India right now with not only women from the homemaker segment, but also men and women professionals going to a spa at least once a week in some cities. The initial capital to get a day spa up and running is substantial. However, the income potential is outstanding if you provide services such as manicures, seaweed wraps, aromatherapy and massages. Of course, like in most such businesses, location is vital.
The spa is the biggest rage in urban India right now with not only women from the homemaker segment, but also men and women professionals going to a spa at least once a week in some cities. The initial capital to get a day spa up and running is substantial. However, the income potential is outstanding if you provide services such as manicures, seaweed wraps, aromatherapy and massages. Of course, like in most such businesses, location is vital.
Seed capital: Rs.10 lakh (Assuming you have space)
Can be started from home? No
ROI period: 2 years
Resources: Some franchises have started in India that will help you get trained manpower as well as give you business support initially
Expected revenues: Rs.40 lakh (5 years); Rs.70 lakh (10 years)
Office requirements: One 10×10 room as office space, laptop (with internet), phone, printer, fax, own stationery (visiting cards + letterheads), trained assistants, lots of spa equipment
Licensing and permissions: You will need a specific permission on running a commercial business out of your home from your local authority
5 Financing Trends for 2011
How your startup could benefit from these funding sources this year.
By Eileen P. Gunn
When it comes to funding options for startups, new ideas seem to come along every season. Some may be old ideas dressed up in a new way, while a few may be something we really haven’t seen before. It isn’t certain which ones will become the new black of small business and which will disappear with this year’s hemlines. But here are five financing trends for 2011 that could have an impact on your company.
1. Crowdfunding
Kickstarter popularized the idea of crowdfunding, which is when a large group of people help fund a project or business through a cluster of small donations. Kickstarter began as a new way to help artists get projects off the ground. In return for funding, donors receive goods or services, or even just a well-crafted thank-you, in lieu of equity or interest payments. Now, the same idea is spreading to business ventures. Diaspora, a tech company that wants to build a social network to rival Facebook got more than Rs.9 million in seed money from a Kickstarter campaign.
Kickstarter popularized the idea of crowdfunding, which is when a large group of people help fund a project or business through a cluster of small donations. Kickstarter began as a new way to help artists get projects off the ground. In return for funding, donors receive goods or services, or even just a well-crafted thank-you, in lieu of equity or interest payments. Now, the same idea is spreading to business ventures. Diaspora, a tech company that wants to build a social network to rival Facebook got more than Rs.9 million in seed money from a Kickstarter campaign.
Of course, the Securities and Exchange Commission frowns on companies offering equity to the public without filing with the government to do so, so when it comes to crowdfunding, backers always get something other than equity. Take Catwalk Genius. Its members fund fledgling fashion designers and, in return, get a share of the revenue generated by the designer’s clothing lines. Then there’s Indiegogo, which leans toward creative and tech business ventures, and peerbackers.com, a community of people specifically looking to support entrepreneurs, which are similar to Kickstarter in that they encourage pre-selling products as a way to raise funds. Look for more niche-oriented crowdfunding sites in 2011.
2. Microlending
The idea of offering very small loans, even just Rs.4,500, has its roots in helping women in underdeveloped countries start small business ventures. But as the recession tightened credit offerings, the popularity of microlending has extended to the U.S.—especially as aspiring entrepreneurs are starting ventures with far less than the Rs.22.5 lakh business loan threshold common at many U.S. banks. Not-for-profit Accion is the largest organization putting that idea into action with loans that start at Rs.22,500 and average a little more than Rs.2.25 lakh. You can also research other microlending programs around the U.S. through the Association for Enterprise Opportunity’s searchable database.
The idea of offering very small loans, even just Rs.4,500, has its roots in helping women in underdeveloped countries start small business ventures. But as the recession tightened credit offerings, the popularity of microlending has extended to the U.S.—especially as aspiring entrepreneurs are starting ventures with far less than the Rs.22.5 lakh business loan threshold common at many U.S. banks. Not-for-profit Accion is the largest organization putting that idea into action with loans that start at Rs.22,500 and average a little more than Rs.2.25 lakh. You can also research other microlending programs around the U.S. through the Association for Enterprise Opportunity’s searchable database.
3. Credit unions
These cooperative financial institutions are among the most active in giving smaller loans to entrepreneurs and have only gotten busier in recent years, according to the U.S. National Credit Union Administration (NCUA). Its figures show credit unions made more than Rs.148,500 crore worth of business loans in 2009, up from Rs.54,000 crore in 2004. They have relatively low default rates and terms that are often better than traditional banks, according to the NCUA and Federal Deposit Insurance Corp. (FDIC). Credit unions also can be a resource for aspiring business owners whose credit score might not pass muster with other banks. The catch? You will likely have to become a member of the credit union to borrow from it.
These cooperative financial institutions are among the most active in giving smaller loans to entrepreneurs and have only gotten busier in recent years, according to the U.S. National Credit Union Administration (NCUA). Its figures show credit unions made more than Rs.148,500 crore worth of business loans in 2009, up from Rs.54,000 crore in 2004. They have relatively low default rates and terms that are often better than traditional banks, according to the NCUA and Federal Deposit Insurance Corp. (FDIC). Credit unions also can be a resource for aspiring business owners whose credit score might not pass muster with other banks. The catch? You will likely have to become a member of the credit union to borrow from it.
4. Bootstrapping
If you’ve trimmed your startup costs down to a couple of thousand rupees, why not skip the loan altogether and bootstrap your business? When you tap personal savings, get vendors to front startup supplies for delayed payment terms, hit up friends and relatives, or use one money-making venture to fund another, then you’re bootstrapping. It’s a good way to test an idea and make sure it has legs before investing heavily in a new venture. Think of it as the business equivalent of going retro. It’s an idea that has been around forever, but is making a big comeback as people who have lost their jobs in the recession increasingly look to start a small business as an alternative to traditional employment.
If you’ve trimmed your startup costs down to a couple of thousand rupees, why not skip the loan altogether and bootstrap your business? When you tap personal savings, get vendors to front startup supplies for delayed payment terms, hit up friends and relatives, or use one money-making venture to fund another, then you’re bootstrapping. It’s a good way to test an idea and make sure it has legs before investing heavily in a new venture. Think of it as the business equivalent of going retro. It’s an idea that has been around forever, but is making a big comeback as people who have lost their jobs in the recession increasingly look to start a small business as an alternative to traditional employment.
5. The slow money movement
Woody Tasch, longtime chairman of Investors’ Circle, a hugely successful angel network for socially-responsible companies, is spearheading this fledgling movement. Its ambitious aim is “a million Americans investing around 1 percent of their assets in local food systems within a decade.”
Woody Tasch, longtime chairman of Investors’ Circle, a hugely successful angel network for socially-responsible companies, is spearheading this fledgling movement. Its ambitious aim is “a million Americans investing around 1 percent of their assets in local food systems within a decade.”
The idea is to help entrepreneurs who buy, use and sell local food or who engage in sustainable agriculture get seed funding from people they know in their communities. The terms are set on a deal-by-deal basis, which can range from a loan to equity to a credit extension. Backers are encouraged to invest in ventures that won’t just turn quick profits but will benefit their communities over the long term by creating jobs, supporting other local businesses and the fostering local food chain.
It’s ambitious and will likely evolve as it goes. But in its early days so was Investors’ Circle, which has facilitated over Rs.603 crore in investments in more than 200 companies since 1992. We’re interested to see how Tasch will sustain this movement.
A Fund-tastic Year Ahead
India’s top venture capitalists predict what will rule in 2011.
By Team Young Turks
By Team Young Turks
Alok MittalManaging Director
Canaan Partners
Looking back at 2010
Last year has been good for entrepreneurs and investors. We invested a lot on the internet; and e-commerce is finally taking of. I think that’s a big hit, not just for e-commerce businesses, but even for online advertising because e-commerce gives rise to more such advertising. The other notable thing that happened in the year 2010 was that venture investors started seeing exits. For example, public market exits like MakeMyTrip or SKS Microfinance or private exits like Dr Lal Pathlabs. Finally, there is some proof that venture investing works in India and that’s a big endorsement that will allow more money to be invested in India now. This is good news for entrepreneurs.
Last year has been good for entrepreneurs and investors. We invested a lot on the internet; and e-commerce is finally taking of. I think that’s a big hit, not just for e-commerce businesses, but even for online advertising because e-commerce gives rise to more such advertising. The other notable thing that happened in the year 2010 was that venture investors started seeing exits. For example, public market exits like MakeMyTrip or SKS Microfinance or private exits like Dr Lal Pathlabs. Finally, there is some proof that venture investing works in India and that’s a big endorsement that will allow more money to be invested in India now. This is good news for entrepreneurs.
Opportunities in 2011
I hope this year will be equally positive. There are a bunch of companies in the exit pipeline. If the markets don’t fall through the crack, we should see many more positives stories about venture investing being successful in India. In terms of sectors, 3G should lead to a lot of internet adoptions that should drive a lot of consumption of content on mobile phones. So, that will be one area for investment. We are also looking forward to social and commercial objectives. People should also start feeling more comfortable with the mix of the two. Hopefully, the MFI issues will get resolved and people will know how to deal with it. That will set the stage for other such businesses so that the bottom of the pyramid starts drawing more and more commercial capital and achieves the scale that they need to.
I hope this year will be equally positive. There are a bunch of companies in the exit pipeline. If the markets don’t fall through the crack, we should see many more positives stories about venture investing being successful in India. In terms of sectors, 3G should lead to a lot of internet adoptions that should drive a lot of consumption of content on mobile phones. So, that will be one area for investment. We are also looking forward to social and commercial objectives. People should also start feeling more comfortable with the mix of the two. Hopefully, the MFI issues will get resolved and people will know how to deal with it. That will set the stage for other such businesses so that the bottom of the pyramid starts drawing more and more commercial capital and achieves the scale that they need to.
Canaan Partners’s look-out for 2011
Our objective remains relatively stable over time. In venture investing, the typical time to exit is four to six years, so we don’t really look at economic cycles. Last year the Sensex was up, but one never knows what the Sensex will read, say, six years from now. So, our objectives remain constant—to be behind an entrepreneur where we see good market opportunity. Looking at sectors, e-commerce is one area which has started showing traction so we will continue to look at that. The other focal areas are 3G and MFI. We also look forward to the opening up of the broader bottom-of-the-pyramid investing space in 2011.
Our objective remains relatively stable over time. In venture investing, the typical time to exit is four to six years, so we don’t really look at economic cycles. Last year the Sensex was up, but one never knows what the Sensex will read, say, six years from now. So, our objectives remain constant—to be behind an entrepreneur where we see good market opportunity. Looking at sectors, e-commerce is one area which has started showing traction so we will continue to look at that. The other focal areas are 3G and MFI. We also look forward to the opening up of the broader bottom-of-the-pyramid investing space in 2011.
A word of caution
Entrepreneurs need to look out for a bubble. If the bubble looks great only in the short term, it never works in the long run. So, entrepreneurs should stay focused on building businesses which will be great value generators over the next five to six years. They should not look at only what’s going to happen in the next six months from a value creation standpoint.
Entrepreneurs need to look out for a bubble. If the bubble looks great only in the short term, it never works in the long run. So, entrepreneurs should stay focused on building businesses which will be great value generators over the next five to six years. They should not look at only what’s going to happen in the next six months from a value creation standpoint.
Investment scenario 2011
You will see us doing more early-stage investments in 2011. We have been operational for four to five years, so some of the investments that we made in the earlier part of our existence here are beginning to mature now. We have more than five companies now that are all generating over Rs.100 crore in revenue. So, with them, we will start looking for some exit options now. We believe we have a portfolio which is well-balanced with both early-stage companies and those which will mature soon.
You will see us doing more early-stage investments in 2011. We have been operational for four to five years, so some of the investments that we made in the earlier part of our existence here are beginning to mature now. We have more than five companies now that are all generating over Rs.100 crore in revenue. So, with them, we will start looking for some exit options now. We believe we have a portfolio which is well-balanced with both early-stage companies and those which will mature soon.
Sandeep SinhaManaging Partner
Lumis Partners
Looking back at 2010
I think it was an interesting year. We look at three specific sectors—education, healthcare and tech—as a private equity fund. The challenges one faces in India have remained constant over the years; valuations are souring and there are a few good players in the industry. For entrepreneurs with proven track record, the valuation tends to go through the sky. But there are very few players in that segment in India. Again, you often see some unrealistic performances in the market. For example, if you look at the education sector, there are a couple of listed players here who have significantly exuberant valuations.
I think it was an interesting year. We look at three specific sectors—education, healthcare and tech—as a private equity fund. The challenges one faces in India have remained constant over the years; valuations are souring and there are a few good players in the industry. For entrepreneurs with proven track record, the valuation tends to go through the sky. But there are very few players in that segment in India. Again, you often see some unrealistic performances in the market. For example, if you look at the education sector, there are a couple of listed players here who have significantly exuberant valuations.
That becomes a challenge because some ventures are not sustainable and when these fail, they bring down the whole sector. These usually see abnormal traction in the first couple of months and then go down, setting a bad precedence for everybody across the board. It also creates wrong expectations. You will notice that many entrepreneurs run to the education sector but very few people have really understood its challenges from a regulation standpoint. They also fail to grasp the challenges from the scalability and profitability standpoints. But we should hopefully see some level of correction happening in the year going forward. It is much better for any company to get listed on reasonable grounds.
Big bets for 2011
We are a focused-fund, and primarily look at the sectors we are interested in. Within the education sector, vocational training is one space where we are seeing a lot of traction and employability. In healthcare, the focus is to look more at the services side and less at capital. In tech, the BPO segment is becoming more and more niche now that generic service is moving away. It’s going to the next level of knowledge process outsourcing where there is significantly more intellectual arbitrage involved, apart from just manual labor. So, those are some of the areas we are focusing on.
We are a focused-fund, and primarily look at the sectors we are interested in. Within the education sector, vocational training is one space where we are seeing a lot of traction and employability. In healthcare, the focus is to look more at the services side and less at capital. In tech, the BPO segment is becoming more and more niche now that generic service is moving away. It’s going to the next level of knowledge process outsourcing where there is significantly more intellectual arbitrage involved, apart from just manual labor. So, those are some of the areas we are focusing on.
A word of caution
As an entrepreneur, you should first focus on assembling the right people for your venture, both within the team and as an ecosystem of mentors around them. Look at business models which are sustainable, scalable and profitable. It all sounds very simple, but these are things which get left out in the overall rush to start your venture.
As an entrepreneur, you should first focus on assembling the right people for your venture, both within the team and as an ecosystem of mentors around them. Look at business models which are sustainable, scalable and profitable. It all sounds very simple, but these are things which get left out in the overall rush to start your venture.
I also think it is important to stay away from some of the ‘flash and pan’ events because these try to create the herd mentality where everybody starts running after an idea without understanding their own abilities. But undue passion in something they don’t understand well will just lead to failure. So, entrepreneurs should go back to the tried and tested methods of focusing on their core strength, the team and scale.
Regulations will be a challenge in the education sector, because these keep getting altered. You should focus on the supplementary side of education, which is less regulated and has far more value to add. In the healthcare sector, regulations can play a significant role in the core care-giving segment.
If you are setting up a brick and mortar facility providing core care-giving, you should keep your eyes open to the means of driving profitability and how it infringes upon government regulations.
Opportunities ahead
We are yet to enter the market in a big way, so we are looking at making significant investments. We are looking at large-scale entries but we won’t be exiting any of the businesses in the next 12 months.
We are yet to enter the market in a big way, so we are looking at making significant investments. We are looking at large-scale entries but we won’t be exiting any of the businesses in the next 12 months.
Saurabh SrivastavaChairman and Founder
Indian Angel Network
Looking back at 2010
Last year was a very pleasant surprise. We were coming out of a bad crisis, there was talk of a double-dip recession, of global markets not picking up and yet, as far as we were concerned, India saw a booming economy. In just about every single way, as far as investors were concerned, they found their investments doing well. Entrepreneurs found a much better market than they thought they would. Those entrepreneurs who were focused on the Indian market did much better than those focused globally, which was a huge change from three years ago. That was a good sign because it told our entrepreneurs that when they look at creating businesses, they should also look at the local market which is getting bigger. The middle class is rising and as incomes grow, disposable incomes grow disproportionately which creates huge consumer demand. So, 2011 promises to be a very good year. Over the last 12 months, entrepreneurs have become bolder with much better-defined and better-differentiated propositions. Not everyone is looking at only IT services and the BPO model.
Last year was a very pleasant surprise. We were coming out of a bad crisis, there was talk of a double-dip recession, of global markets not picking up and yet, as far as we were concerned, India saw a booming economy. In just about every single way, as far as investors were concerned, they found their investments doing well. Entrepreneurs found a much better market than they thought they would. Those entrepreneurs who were focused on the Indian market did much better than those focused globally, which was a huge change from three years ago. That was a good sign because it told our entrepreneurs that when they look at creating businesses, they should also look at the local market which is getting bigger. The middle class is rising and as incomes grow, disposable incomes grow disproportionately which creates huge consumer demand. So, 2011 promises to be a very good year. Over the last 12 months, entrepreneurs have become bolder with much better-defined and better-differentiated propositions. Not everyone is looking at only IT services and the BPO model.
There are products, technologies, business models and internet models. Within tech, there are new spaces like cloud computing, where we already have world-class entrepreneurs. So, for both investors and entrepreneurs, 2011 should be a very good year.
Hits & misses in 2010
If I look back at what clicked last year, it surprises me to find that some tech companies, which actually have a global market, did very well. Angel investing worked exceedingly well. As for the duds, sectors like retail and hospitality have witnessed some failures last year. This is because many entrepreneurs rushed into these sectors because statistics predicted that these are high-growth areas. But these entrepreneurs did not offer enough sops to differentiate their business from that of their competitors. They did not come with proper long-term plans, of plans to convert their restaurant into a chain. Some entrepreneurs are getting a little too casual about their businesses but those who don’t do due diligence and have proper business plans are bound to fail.
If I look back at what clicked last year, it surprises me to find that some tech companies, which actually have a global market, did very well. Angel investing worked exceedingly well. As for the duds, sectors like retail and hospitality have witnessed some failures last year. This is because many entrepreneurs rushed into these sectors because statistics predicted that these are high-growth areas. But these entrepreneurs did not offer enough sops to differentiate their business from that of their competitors. They did not come with proper long-term plans, of plans to convert their restaurant into a chain. Some entrepreneurs are getting a little too casual about their businesses but those who don’t do due diligence and have proper business plans are bound to fail.
Hotspots for 2011
The Indian economy is growing steadily, so there is plenty of scope for entrepreneurs. Education is a hotspot but watch out for government policies and regulations. Any venture in healthcare, tech (consumer internet and wireless mobile) and pharma should do well. Look at clean technology, this sector is evolving and promises high profitability.
The Indian economy is growing steadily, so there is plenty of scope for entrepreneurs. Education is a hotspot but watch out for government policies and regulations. Any venture in healthcare, tech (consumer internet and wireless mobile) and pharma should do well. Look at clean technology, this sector is evolving and promises high profitability.
A word of caution
The biggest thing entrepreneurs should watch out for is that there can be a bubble when things go well. Everybody rushing to do the same thing is a bad idea. Don’t follow blindly what the herd is doing, step back, figure out what it is that you can do well, where is it that you can have differentiated propositions that you can sustain. Ask yourself if you have a compelling reason why people should invest in you. If you cannot answer the question, don’t do it.
The biggest thing entrepreneurs should watch out for is that there can be a bubble when things go well. Everybody rushing to do the same thing is a bad idea. Don’t follow blindly what the herd is doing, step back, figure out what it is that you can do well, where is it that you can have differentiated propositions that you can sustain. Ask yourself if you have a compelling reason why people should invest in you. If you cannot answer the question, don’t do it.
Opportunities ahead
2011 will be a year of some exits, like last year. But this year will also see many entries because the quality of entrepreneurs, their ambitions and the sophistication of their business plans, is improving. That increases the chances of VC funding to a great extent. The Indian Angel Network will always continue to look at tech. The other focal areas are affordable healthcare and different aspects of education.
2011 will be a year of some exits, like last year. But this year will also see many entries because the quality of entrepreneurs, their ambitions and the sophistication of their business plans, is improving. That increases the chances of VC funding to a great extent. The Indian Angel Network will always continue to look at tech. The other focal areas are affordable healthcare and different aspects of education.
Vani KolaManaging Director
Indo U.S. Ventures
Looking back at 2010
The hits that we saw continued to be in the niche telecom sector, which showed tremendous growth and companies were able to successfully scale.
The hits that we saw continued to be in the niche telecom sector, which showed tremendous growth and companies were able to successfully scale.
We saw scaling in retail and also some new industries. We saw e-commerce entry getting very hot, with many young companies starting up in this space.
There was tremendous scaling across the board in niche internet companies, in gaming and the travel sector. The misses were primarily in sectors related to outsourcing where even young companies missed their targets.
Values of deals done in 2010
Last year, funds could close only half the deals compared to years before. This was mainly due to the caution in the market; also, many funds took longer than usual to raise fresh capital due to the economic crisis.
Last year, funds could close only half the deals compared to years before. This was mainly due to the caution in the market; also, many funds took longer than usual to raise fresh capital due to the economic crisis.
Emerging entrepreneurs & profiles
There are some concepts we like to use, like the concept of arbitrage. We invested in couponing and saw exciting traction. After our initial investment in a company called Snapdeal, we saw 20 other companies come on board. These are sectors where the first-mover advantage is everything, and our company was able to go to 28 cities in India in just eight months. We then saw some rapid scaling in these new markets.
There are some concepts we like to use, like the concept of arbitrage. We invested in couponing and saw exciting traction. After our initial investment in a company called Snapdeal, we saw 20 other companies come on board. These are sectors where the first-mover advantage is everything, and our company was able to go to 28 cities in India in just eight months. We then saw some rapid scaling in these new markets.
In merchandising, we have a company called Myntra which was making IPL jerseys. The rest of the world understands soccer jerseys but in India tremendous traction was achieved overnight, thanks to the IPL jersey. So, emerging sectors in the consumer services space succeeded well last year.
Opportunities in 2011
Education and e-commerce will continue to be hot in 2011. Some aspects of mobile VAS will see growth. We are also expecting a recovery in terms of global services models that can show new traction.
Education and e-commerce will continue to be hot in 2011. Some aspects of mobile VAS will see growth. We are also expecting a recovery in terms of global services models that can show new traction.
A word of caution
Raise and keep money in your bank. Don’t be oversensitive to valuation. There is euphoria in the market now around valuation and many entrepreneurs are holding back in terms of raising good capital because of valuation. But if you are in the game of creating long-term value, don’t be myopic about minor valuation differences today. If the markets go into regression again, you will regret not having raised capital. So, take advantage of the market now and raise money sensibly.
Raise and keep money in your bank. Don’t be oversensitive to valuation. There is euphoria in the market now around valuation and many entrepreneurs are holding back in terms of raising good capital because of valuation. But if you are in the game of creating long-term value, don’t be myopic about minor valuation differences today. If the markets go into regression again, you will regret not having raised capital. So, take advantage of the market now and raise money sensibly.
Of exits and entries
If we have the scale, this is certainly the year for exits. If companies are at a very high scale and are attractive for M&A, then it would definitely be a year for exit in that sense.
As a year of entry, we continue to enter the market every year. If you are an entrepreneur and have achieved scale and are contemplating an exit within the next couple of years, then 2011 may be a good year to exit.
If we have the scale, this is certainly the year for exits. If companies are at a very high scale and are attractive for M&A, then it would definitely be a year for exit in that sense.
As a year of entry, we continue to enter the market every year. If you are an entrepreneur and have achieved scale and are contemplating an exit within the next couple of years, then 2011 may be a good year to exit.
Investment size and India budget
We don’t have an Indian budget because we only invest in Indian companies and our entire fund is allocated for India. Typically, we invest about Rs.15 crore-Rs.25 crore and we are a long-term investor which is why we keep entering every year. We hold our investments for five to seven years and hence we look to invest in companies on an annual basis.
We don’t have an Indian budget because we only invest in Indian companies and our entire fund is allocated for India. Typically, we invest about Rs.15 crore-Rs.25 crore and we are a long-term investor which is why we keep entering every year. We hold our investments for five to seven years and hence we look to invest in companies on an annual basis.
Looking ahead
Whenever there is a successful idea or a good market, there will be 20 similar companies, so it is important for an entrepreneur to differentiate his venture from his competitors.
I am very heartened to see that entrepreneurs now come up with unique propositions and pull out of the pack of the 20 similar companies that exist beside him.
Whenever there is a successful idea or a good market, there will be 20 similar companies, so it is important for an entrepreneur to differentiate his venture from his competitors.
I am very heartened to see that entrepreneurs now come up with unique propositions and pull out of the pack of the 20 similar companies that exist beside him.
Services: Still the big bet?
The trend we see is that services companies are 25 percent of our portfolio and we expect that to continue in the foreseeable future.
It is not that services companies are not viable anymore; it’s just that there are other apparent alternatives. Hence, they become consumers of pools of capital because there is tremendous domestic consumer growth.
The trend we see is that services companies are 25 percent of our portfolio and we expect that to continue in the foreseeable future.
It is not that services companies are not viable anymore; it’s just that there are other apparent alternatives. Hence, they become consumers of pools of capital because there is tremendous domestic consumer growth.
Anand LuniaED and CFO
Seedfund
Looking back at 2010
Last year started on a slow note because we were just emerging from the problems in the U.S. and the little bit of recession that had hit India. But it was a watershed year and will always be remembered as the year when we turned the corner successfully. E-commerce came up in a big way.
Last year started on a slow note because we were just emerging from the problems in the U.S. and the little bit of recession that had hit India. But it was a watershed year and will always be remembered as the year when we turned the corner successfully. E-commerce came up in a big way.
People are using a lot of mobile services so we have seen the emergence of many mobile VAS companies.
We also invested in a chain of hospitals called Vaatsalya. We have seen that many entrepreneurs open modern hospitals in small towns but don’t need any marketing. For example, we are looking at a chain of dental clinics.
When you look around, you see many people providing cosmetic dentistry but if you ask a taxi driver whether he knows of a chain of dental clinics, you will never get an answer.
Value of deals done by Seedfund
We have done two new investments and raised a new fund in 2010. We have raised Rs.225 crore; the second half of the year was an especially busy time for us. We did two investments in the last one month and are looking at closing one more investment this month.
We are looking at five to six investments this year and have opened an incubator to incubate seven to eight companies at a time; so we are looking at a very busy 2011.
We have done two new investments and raised a new fund in 2010. We have raised Rs.225 crore; the second half of the year was an especially busy time for us. We did two investments in the last one month and are looking at closing one more investment this month.
We are looking at five to six investments this year and have opened an incubator to incubate seven to eight companies at a time; so we are looking at a very busy 2011.
Opportunities in 2011
As a VC, I love education, healthcare, e-commerce and the space of mobile VAS services. I love the retail services space which has many unorganized markets to aggregate. I like to see entrepreneurs focus on consumer demand because that is making the country grow.
As a VC, I love education, healthcare, e-commerce and the space of mobile VAS services. I love the retail services space which has many unorganized markets to aggregate. I like to see entrepreneurs focus on consumer demand because that is making the country grow.
Successful entrepreneurs of 2010
We have seen many people leaving jobs. And entrepreneurs from small towns like Nagpur and Bhopal are giving us good quality pitches. We have seen a mix of first-generation entrepreneurs and the more regular IIT and IIM pass-outs coming to us. The quality of entrepreneurs has improved significantly from 2009.
We have seen many people leaving jobs. And entrepreneurs from small towns like Nagpur and Bhopal are giving us good quality pitches. We have seen a mix of first-generation entrepreneurs and the more regular IIT and IIM pass-outs coming to us. The quality of entrepreneurs has improved significantly from 2009.
A word of caution
Many entrepreneurs want to imitate some of the IPOs but that’s the wrong way to go about starting your business. India is a large country with many virgin territories. Don’t copy what is going on and stay away from bubbles.
Many entrepreneurs want to imitate some of the IPOs but that’s the wrong way to go about starting your business. India is a large country with many virgin territories. Don’t copy what is going on and stay away from bubbles.
Social investments & trends
One of the best companies we have is Vaatsalya. This company was able to raise money in early 2009 when almost nothing was getting funded. What we have seen is that for a basic hospital in a small town, you don’t need to market. Microfinance companies have fared better than companies selling holidays or vacations abroad. So, the social sector has actually matched or perhaps even outperformed the regular sector for us. We are looking at a MFI and feel that the social sector has some solid businesses which are well worth looking at.
Investment outlook for 2011
One of the best companies we have is Vaatsalya. This company was able to raise money in early 2009 when almost nothing was getting funded. What we have seen is that for a basic hospital in a small town, you don’t need to market. Microfinance companies have fared better than companies selling holidays or vacations abroad. So, the social sector has actually matched or perhaps even outperformed the regular sector for us. We are looking at a MFI and feel that the social sector has some solid businesses which are well worth looking at.
Investment outlook for 2011
We are running a Rs.225 crore fund. We are investing Rs.9 crore-Rs.13.5 crore in companies that already have a product which has got some acceptance and wants to roll out and distribute the product more widely.
We are looking at doing around seven to eight deals next year and are more than happy to start small.
Sectors to look out for in 2011
E-commerce, since a lot more people are buying online. The social sector is another hot space while education is finally somehow or the other getting privatized. I am expecting some regulatory intervention in 2011 as well.
In education services, you will not have the CBSE board focusing much on grades; schools are changing so there is a lot of demand for services to schools.
Healthcare is also a sector worth looking at since there will be a lot of tech intervention in the healthcare space.
E-commerce, since a lot more people are buying online. The social sector is another hot space while education is finally somehow or the other getting privatized. I am expecting some regulatory intervention in 2011 as well.
In education services, you will not have the CBSE board focusing much on grades; schools are changing so there is a lot of demand for services to schools.
Healthcare is also a sector worth looking at since there will be a lot of tech intervention in the healthcare space.
Differentiation among entrepreneurs & ideas
You need to differentiate your product or service. We look for non-linearity, not just differentiation. When you want to expand, you don’t need capital all the time; you don’t need a product which needs to be marketed.
In healthcare, there are still many states uncovered by basic healthcare. We have come up with a format with Vaatsalya.
Some of the interventions we have come up with will go to the hinterland and create a lot of differentiation. We should not focus on differentiation.
You need to differentiate your product or service. We look for non-linearity, not just differentiation. When you want to expand, you don’t need capital all the time; you don’t need a product which needs to be marketed.
In healthcare, there are still many states uncovered by basic healthcare. We have come up with a format with Vaatsalya.
Some of the interventions we have come up with will go to the hinterland and create a lot of differentiation. We should not focus on differentiation.
Lack of ventures beyond services
Unfortunately, a lot of hardware or product innovation does not really emerge out of India; It is mainly the MNCs and the JVs that rule the roost there.
I will be happy to fund a product innovation out of India but the larger opportunity in India is in the services sector.
People need to move up the value chain at the moment. Start with basic first and then go into complex products.
Unfortunately, a lot of hardware or product innovation does not really emerge out of India; It is mainly the MNCs and the JVs that rule the roost there.
I will be happy to fund a product innovation out of India but the larger opportunity in India is in the services sector.
People need to move up the value chain at the moment. Start with basic first and then go into complex products.
10 Steps to Small-Business Success in 2011
Try these forward-thinking strategies to improve your business now.
By Rosalind Resnick
1 Overhaul your business plan.In a climate as unforgiving as this, stasis is death. So dust off your business plan and scrub it of any assumptions you may have made three years ago. Roll up your sleeves, do the math and zero in on the best strategy to grab market share and win new business. Then start treating your business plan as if it’s a work in progress. Create hard benchmarks and measure results often. That’s how you improve performance, says Tim Berry, President and Founder of Palo Alto Software Inc., developer of Business Plan Pro, a small-business software tool that creates plans and financial projections.
“Planning means tracking how assumptions change and reviewing progress and plan versus actual results,” he says. Rethinking your business plan also can help you spot new opportunities and point your company in the right direction. For step-by-step advice, check out the U.S. Small Business Administration’s guide.
2 Double down on what works.
Whatever paid off in 2010 is worth investing more time, money and resources next year.
Ask yourself: What was your top-selling product or service, and how can you get your customers to buy more? What money-saving strategies went straight to the bottom line? What incentives or promotions got your customers’ attention?
Whatever paid off in 2010 is worth investing more time, money and resources next year.
Ask yourself: What was your top-selling product or service, and how can you get your customers to buy more? What money-saving strategies went straight to the bottom line? What incentives or promotions got your customers’ attention?
Elyissia Wassung, CEO of 2 Chicks With Chocolate, a South River, N.J., chocolate maker, is doubling down on in-store demos, which have boosted sales. When she learned a chain retailer was planning to order exclusively from 2 Chicks for Christmas, she says, “We decided to double our demos with them this holiday season and blitz all of their stores on the same day. We are also giving away prizes to the top performing stores.”
3 Experiment.
The best time to try something new? When the old isn’t working. It may feel safer to stay in your comfort zone, but sticking with the same old product, service or marketing strategy might actually be riskier.
The best time to try something new? When the old isn’t working. It may feel safer to stay in your comfort zone, but sticking with the same old product, service or marketing strategy might actually be riskier.
The best new ideas often come from conversations with your customers, suppliers and, most of all, employees. “The unexpected can often be the obvious,” says New York business and personal coach Carol Vinelli. Talk less, listen more and really tune in to ideas that could lead to breakthrough products and services.
Need some inspiration? Check out Seth Godin’s bestselling book Purple Cow about how to make your company remarkable.
4 Fire your D-grade customers.
“High-maintenance, low-margin customers are an impediment to deploying time and resources more profitably,” says Joseph Fulvio, a consultant in Doylestown, Penn., who specializes in growing small businesses. “Get rid of them.”
“High-maintenance, low-margin customers are an impediment to deploying time and resources more profitably,” says Joseph Fulvio, a consultant in Doylestown, Penn., who specializes in growing small businesses. “Get rid of them.”
Make a list of your customers and give each of them a grade. Then dump everyone below a C—or a B, if you can afford it. Once you’ve separated the winners from the losers, put a plan in place to turn those laggards into A-listers. Going forward, use those criteria to size up new business.
Though most businesses worry whether they’ll meet clients’ expectations, “it’s actually a two-way street,” Fulvio says. A better vendor-customer fit should produce a healthier bottom line.
5 Become an ‘A’ Customer.
When prices are low, as they are now, it’s generally a good time to lock in long-term contracts with your regular vendors, contractors and suppliers. Indeed, you might be able to negotiate a lower price in return for the promise of your business. Small-business management expert Tim Sciarrillo of The New England Group in Milford, Conn., suggests asking your supplier for a volume discount and to hold the goods until you need them.
When prices are low, as they are now, it’s generally a good time to lock in long-term contracts with your regular vendors, contractors and suppliers. Indeed, you might be able to negotiate a lower price in return for the promise of your business. Small-business management expert Tim Sciarrillo of The New England Group in Milford, Conn., suggests asking your supplier for a volume discount and to hold the goods until you need them.
Instead of ordering 10,000 custom labels five times a year, for example, order 50,000 at once but have them delivered in batches. This lowers the supplier’s manufacturing costs, reduces your unit price and speeds delivery on future orders because the labels are already printed. It may seem like a simple thing but can lead to effective long-term deals.
Exclusivity is the key to a sweetheart deal like this. “At one client company, we reduced corrugated suppliers from five to one,” Sciarrillo says. “The client received better service, reduced pricing and every time there was a price increase, the salesman usually kept our increase a percent or two below the standard.”
Make sure your contract covers all the details, such as delivery cost, timing and quality guarantees.
6 Expand your network.
Facebook and LinkedIn have their uses, but they’ll never replace face-to-face meetings, especially to win new business and get referrals.
Facebook and LinkedIn have their uses, but they’ll never replace face-to-face meetings, especially to win new business and get referrals.
“Some folks aren’t ready to go out there and mingle, but in today’s economy, it is imperative,” says Bryan R. Adams, owner of FAB Communications in Teaneck, N.J.
Think about it: A single coffee, meeting or lunch with a lawyer, financial planner or supplier could bring in dozens of new customers next year. If you’re afraid to jump in right away, Adams suggests starting by searching Meetup.com for a group that matches your interests and attending local chamber of commerce events.
Once you find your groove (and refine your elevator pitch), consider joining a dedicated networking group such as BNI International, LeTip International or National Association of Women Business Owners. “Getting out there keeps you sane and you get to hear what’s working and not working for other businesses,” Adams says.
7 Leverage your brand.
In this economy, it’s more important than ever to avoid becoming a “me, too” brand. Low prices and quality service are no longer enough. Whether it’s a YouTube video, an iPad app or a free tasting event, offer something to make customers take notice.
In this economy, it’s more important than ever to avoid becoming a “me, too” brand. Low prices and quality service are no longer enough. Whether it’s a YouTube video, an iPad app or a free tasting event, offer something to make customers take notice.
“What do you bring to the table that no one else is serving up to clients and potential clients?” asks Debra Condren, a New York business psychologist. “You must first understand what sets you apart and then become completely fluent in communicating to your target audience what separates you from the herd.”
For more tips and tools on leveraging your brand, check out Entrepreneur’s free online marketing guides at entrepreneur.com/marketing.
8 Get some credit.
The mortgage market is starting to thaw, and that’s good news for small-business owners who can tap their home equity for working capital. If you have good credit and some equity in your house, now may be the time to refinance before interest rates rise.
The mortgage market is starting to thaw, and that’s good news for small-business owners who can tap their home equity for working capital. If you have good credit and some equity in your house, now may be the time to refinance before interest rates rise.
Be sure your credit score is solid and that your business shows positive cash flow before you start shopping for deals. You won’t get the loan unless your bank is convinced you can cover the monthly payments.
“Banks are willing to provide credit but are still very selective,” says Case Western’s Shane. “Financials help a lot right now.”
9 Fire up your employees.
Think about creating a bonus plan to motivate employees to hit your 2011 goals. Bonuses, while not always successful, says Rich Armstrong, President of The Great Game of Business Inc., can help focus your staff’s attention on key metrics such as sales, profits, productivity and customer satisfaction.
Think about creating a bonus plan to motivate employees to hit your 2011 goals. Bonuses, while not always successful, says Rich Armstrong, President of The Great Game of Business Inc., can help focus your staff’s attention on key metrics such as sales, profits, productivity and customer satisfaction.
Armstrong’s Springfield, Mo., firm provides training in the open-book management philosophy, which advocates sharing financial and operational information with employees so that they can make better decisions, and it gives them a stake in the company’s success.
“Your people must clearly understand the goal, the improvements that are needed, how they can make a difference and what they stand to gain,” he says. “Bonus-plan success will have everything to do with how well you communicate, educate and encourage your people to stay in the game and reach for the goal.”
A bonus plan can work in all types of businesses, including manufacturing, sales, even restaurants. Goals can be tied to easy-to-measure numbers such as revenues, new business volume or gross margin. There’s more about open-book management practices on The Great Game of Business website, greatgame.com.
10 Team up.
Working with “channel partners”—companies that target the same market but with products or services different from yours—can be an ultra-efficient marketing strategy. They’ve already spent the time and money to attract the customers you want, and you can piggyback on those efforts. Naturally, your partners are going to want reciprocal benefits. Vinelli, the business coach, says, “Set aside time each week to brainstorm new ways to create added value to your relationships, fostering more referrals and new partnerships.”
Anne Maxfield, Chief Visionary Officer and Founder of Accidental Locavore, a new-media venture in New York that demystifies farmers markets for shoppers, is partnering with companies that appeal to food- and health-conscious consumers.
Anne Maxfield, Chief Visionary Officer and Founder of Accidental Locavore, a new-media venture in New York that demystifies farmers markets for shoppers, is partnering with companies that appeal to food- and health-conscious consumers.
She’s pitching a show to the Food Network and forging alliances with NYCH2O, a New York bottled-water company, and EcoPlum, a website selling green products.
“Our success in the year 2011 will come from partnerships (with certain companies) that consumers believe in and also trust,” she says.
©Entrepreneur December 2010 by Entrepreneur Media, Inc. All rights reserved.
The Disrupters: Forces Driving Change in 2011
From crowdsourced shopping to new ways to go green. Here are the trends that will define opportunity the next year.
By Team Entrepreneur
On the growth path
A burst of creativity ahead
Looking at the revised growth projections announced early December by the Indian government, one wonders if the recession ever visited our country. The officials in the government offices in Delhi have enhanced the economic growth projection for 2010-’11 to 8.75 percent, with the possibility it could breach the 9 percent mark, but warned the situation could be more volatile due to a spillover of Europe’s economic woes and an increase in global food prices. The earlier growth projection by the finance ministry was 8.5 percent.
A burst of creativity ahead
Looking at the revised growth projections announced early December by the Indian government, one wonders if the recession ever visited our country. The officials in the government offices in Delhi have enhanced the economic growth projection for 2010-’11 to 8.75 percent, with the possibility it could breach the 9 percent mark, but warned the situation could be more volatile due to a spillover of Europe’s economic woes and an increase in global food prices. The earlier growth projection by the finance ministry was 8.5 percent.
These statistics were revealed as a part of the Mid-Year Analysis 2010-’11 placed in Parliament. A resurgent Indian economy also means high growth and innovation among SMEs, often described as a growth engine of the Indian economy. Resource constraints are stimulating great business practices among SMEs and feeding innovation, and the survival rate of new ventures is also improving.
Innovative workplace solutions provider Regus polled the opinions of business owners worldwide to obtain a snapshot ‘state of the nation’ picture of the SME sector in November 2010. This survey showed that Indian SMEs are more bullish on recruitment than their counterparts abroad, with two-fifth of entrepreneurs (40 percent) surveyed saying they will go on a hiring spree in the next six months compared to the 36 percent global average. About 78 percent of businesses are flexible about their employees’ working location, 37 percent net intend to add staff, and fully 60 percent of businesses plan to hire mothers returning to the workforce.
With such high growth at the cusp, innovation among SMEs is also catching up. Eric Jackson, innovation specialist and VP of research and development at Gap International, a global management consulting firm in Philadelphia, says, “The world is screaming for innovation, and companies can capitalize on the resources they already have to spark the next possibilities.” So forget about the recession. Since the financial crisis laid waste to business as usual, the world is brimming with potential. The economic future will be populated by the movers and shakers, who even now are poised for greatness. Just ask Socrates, who doled out this gem more than two millennia ago: “Let him that would move the world, first move himself.”
It’s the silvers (again!)
They age. Opportunities bloom
Though the young in India rock the world with their abilities and achievements, the senior citizens are not to be neglected. A special report carried by The Statesman in November 2009 says that in France, it took 120 years for the grey population to double from 7 percent to 14 percent. However, in India, the grey population has doubled in 25 years. Though a majority of India’s population is below 35, there is also a growing number of the ageing population who need specialized care and services. Take smart homes for example. The global smart homes market is expected to reach a size of Rs.60,300 crore by 2014, growing at a rate of 16.5 percent from 2009 to 2014. Smart homes enable senior citizens to live independently for much longer spans of time.
They age. Opportunities bloom
Though the young in India rock the world with their abilities and achievements, the senior citizens are not to be neglected. A special report carried by The Statesman in November 2009 says that in France, it took 120 years for the grey population to double from 7 percent to 14 percent. However, in India, the grey population has doubled in 25 years. Though a majority of India’s population is below 35, there is also a growing number of the ageing population who need specialized care and services. Take smart homes for example. The global smart homes market is expected to reach a size of Rs.60,300 crore by 2014, growing at a rate of 16.5 percent from 2009 to 2014. Smart homes enable senior citizens to live independently for much longer spans of time.
And senior citizens in India are living long. The same The Statesman report mentioned above spells life expectancy in India as 62 years today vis-Ã -vis 20 years in the beginning of the 20th century. Hidden in the maze of this demographic data lie many opportunities for entrepreneurial ventures. Sectors like healthcare, retirement homes, financial consultancy, media, and flexi-work and second career consultancy all hold immense potential.
Besides, these days, being old doesn’t automatically mean you lose cool points. Responding to the needs of India’s burgeoning silver population, the Tata Institute of Social Sciences (TISS) located in Mumbai launched a one-year diploma course in gerontology in 2008. Two important subjects were added to the curriculum in 2010: media and elderly; and creative arts and fieldwork for elderly.
Here’s the clincher: Hollywood got in on the cool retirees movement with the fall action flick RED, which stars Bruce Willis, John Malkovich, Helen Mirren and Morgan Freeman as four retired and extremely dangerous (RED, get it?) ex-CIA agents—think The Bourne Identity, but funny, and with old people. “Old man, my ass,” Malkovich’s character smirks in one scene, right after taking out a rocket with a single bullet.
Get packing
Travel and tourism take off
Mark Twain described India as ‘the one land that all men desire to see, and having seen once, by even a glimpse, would not give that glimpse for the shows of all the rest of the world combined.’ Looking at the growth figures of the travel and tourism industry in India, his statement doesn’t seem to be far from the truth.
Travel and tourism take off
Mark Twain described India as ‘the one land that all men desire to see, and having seen once, by even a glimpse, would not give that glimpse for the shows of all the rest of the world combined.’ Looking at the growth figures of the travel and tourism industry in India, his statement doesn’t seem to be far from the truth.
As per the Travel and Tourism Competitiveness Report 2009 by the World Economic Forum, India ranked 11th in the Asia Pacific region and 62nd overall, moving up three places on the list of the world’s attractive destinations. The country ranked the 14th best tourist destination for its natural resources and 24th for its cultural resources with many world heritage sites, both natural and cultural, rich fauna, and strong creative industries. The India travel and tourism industry ranked fifth in the long-term (10-year) growth and is expected to be the second largest employer in the world by 2019.
Considering the immense business potential and consumer spending patterns, the industry is on the cusp of unparalleled growth prospects. The government is also upgrading the country’s infrastructure in the form of national highways, airports, etc. This will indirectly boost the tourism industry further. The hotel and tourism industry’s contribution to the Indian economy by way of foreign direct investments (FDI) inflows was pegged at Rs.9,765 crore from April 2000 to September 2010, according to the Department of Industrial Policy and Promotion (DIPP).
The Indian hospitality industry is projected to grow at a rate of 8.8 percent during 2007-’16, placing India as the second-fastest growing tourism market in the world. Initiatives like massive investment in hotel infrastructure and open-sky policies made by the government are all aimed at propelling growth in the hospitality sector.
The Ministry of Tourism compiles monthly estimates of Foreign Tourist Arrivals (FTAs) in India and Foreign Exchange Earnings (FEE) from tourism on the basis of data received from major airports. As per the last available data, FTAs in India during the period of January-October 2010 were 4.32 million with a growth rate of 9.9 percent.
That’s only part of the story though. As the industry increasingly shifts online, opportunities are emerging. The app market, for instance, has swelled from virtually nothing to billions of rupees in just a few years, and smartphone owners are loving their access to a gaggle of Wi-Fi finders, flight status updaters, local restaurant finders, budget booking assistants, translators and more. Websites offering unique travel-oriented services have made a strong showing too. So, there is no looking back for this dynamic sector.
Social shopping
Click. Chat. Buy
If a report of Inside Facebook Gold is to be believed, then in May 2010 India ranked as the second-most growth-oriented country for Facebook in the world after Indonesia. India added almost one million users to Facebook’s growth, just a shade under Indonesia. These figures give only a glimpse of the social networking revolution that is unfolding in our country. Everything that Indians do online now is social. Rediff.com has made gaming social through its new offering PlayGully where users can boast about games and share achievements with friends. e-Commerce remains no exception. Gone are the days of one-way, private online shopping.
Click. Chat. Buy
If a report of Inside Facebook Gold is to be believed, then in May 2010 India ranked as the second-most growth-oriented country for Facebook in the world after Indonesia. India added almost one million users to Facebook’s growth, just a shade under Indonesia. These figures give only a glimpse of the social networking revolution that is unfolding in our country. Everything that Indians do online now is social. Rediff.com has made gaming social through its new offering PlayGully where users can boast about games and share achievements with friends. e-Commerce remains no exception. Gone are the days of one-way, private online shopping.
Research shows that social media users spend, on average, one and a half times more time online than the typical web surfer. In fact, heavy Facebook users spent an average of Rs.3,015 online in the U.S. during the first quarter of the year—compared with less than Rs.2,250 for the general netizen, according to recent comScore research.
The first to really socialize shopping were online flash sale sites, where steep discounts are offered to members for a limited time. These sites rely heavily on online conversations to drive sales. Smartly so, because a recent MediaPost study revealed that 59 percent of consumers rated ‘personal advice from friends’ as the most influential source of information for their purchase decisions, and 51 percent of Twitter users reported that they follow companies, brands or products on social networks.
The viral effect that social networks generate cannot be taken lightly. Opportunity lies hidden in their power.
Home Sweet Home
Repairs to green living spaces, wallets open
Let the hammering begin. The monsoons are finally over so home owners are back to planning and redesigning their living spaces. As job prospects improve and savings get back on track, the home repair and greening movement is expected to gain momentum.
Repairs to green living spaces, wallets open
Let the hammering begin. The monsoons are finally over so home owners are back to planning and redesigning their living spaces. As job prospects improve and savings get back on track, the home repair and greening movement is expected to gain momentum.
In a country like India with a burgeoning population, the demand for houses, shopping malls, hotels, commercial complexes etc is always on the rise.
The opportunity here lies in green spaces. A green home is one that is ideally constructed with a smart design, and requires minimal maintenance. In 2009, the SatyaVani Group of Companies, a Hyderabad-based real estate firm, launched one of India’s biggest green home townships on the Warrangal Highway in Andhra Pradesh.
Architects and builders have begun using green principles like water harvesting and waste management in their projects. The use of eco-friendly building materials like fly-ash cement and blocks, steel and tiles, recycled aluminum, bamboo-based products, green roofing products and so on is also on the upswing. Entrepreneurs can meet this emerging demand with innovative products and services.
Just like building material, on the technology front too, there is a lot of scope. Energy saving air conditioners, high performance glass windows, water saving solutions, composting toilets, and efficient building management systems are just some of them. With the increasing number of green projects in the country, the Indian Green Building Council (IGBC) sees a great future in going green. The council has also introduced a system of rating green homes. Who knows what lies ahead? Maybe designer homes which are both trendy and green…
Vital Signs
Healthcare’s new life
Just take a look at these numbers. The Indian healthcare sector is expected to become a Rs.12,60,000 crore industry by 2020 with spending on health estimated to grow 14 percent annually, according to a report by an industry body. “Healthcare has emerged as one of the most progressive and largest service sectors in India with an expected GDP spend of 8 percent by 2012 from 5.5 percent in 2009,” the report said. At present the sector is estimated to be around Rs.1,80,000 crore. As per a study by an industry body and Ernst & Young, India would require another 1.75 million beds by the end of 2025. The rural healthcare sector is also on an upsurge. The Rural Health Survey Report 2009, released by the Ministry of Health, stated that during the last five years, the rural health sector has seen the addition of around 15,000 health sub-centers and 28,000 nurses and midwives.
Healthcare’s new life
Just take a look at these numbers. The Indian healthcare sector is expected to become a Rs.12,60,000 crore industry by 2020 with spending on health estimated to grow 14 percent annually, according to a report by an industry body. “Healthcare has emerged as one of the most progressive and largest service sectors in India with an expected GDP spend of 8 percent by 2012 from 5.5 percent in 2009,” the report said. At present the sector is estimated to be around Rs.1,80,000 crore. As per a study by an industry body and Ernst & Young, India would require another 1.75 million beds by the end of 2025. The rural healthcare sector is also on an upsurge. The Rural Health Survey Report 2009, released by the Ministry of Health, stated that during the last five years, the rural health sector has seen the addition of around 15,000 health sub-centers and 28,000 nurses and midwives.
A new report titled ‘Medical Technology in India: Enhancing Access to Healthcare through Innovation’ released by PricewaterhouseCoopers and an industry body states that the size of the Indian medical technology industry may touch Rs.63,000 crore by 2020 from Rs.12,150 crore in 2008 on account of strong economic growth, higher public spending and private investments in healthcare, increased penetration of health insurance and emergence of new models of healthcare delivery. The Indian health insurance market is also riding high. As per a report by research firm RNCOS released in April 2010 titled ‘Booming Health Insurance in India’, the Indian health insurance market has posted record growth in the last two fiscals (2008-’09 and 2009-’10). Moreover, as per the report, the health insurance premium is expected to grow at a CAGR of over 25 percent for the period spanning from 2009-’10 to 2013-’14.
Opportunities to come up with new technological innovations to service growing healthcare needs, to invest in healthcare infrastructure and to offer TPA and other services related to health insurance abide in plenty for entrepreneurs.
Great Expectations
Craving affordable luxuries
Luxury is associated with being cool, sporting a certain status and enjoying the finer things in life. Who doesn’t crave a unique, exclusive watch or a bottle of rare wine? The burgeoning Indian middle class is using the rise in disposable income to fuel its passion for luxury.
Craving affordable luxuries
Luxury is associated with being cool, sporting a certain status and enjoying the finer things in life. Who doesn’t crave a unique, exclusive watch or a bottle of rare wine? The burgeoning Indian middle class is using the rise in disposable income to fuel its passion for luxury.
Professor James Twitchell (2002) commented on the democratization of luxury and the changing consumer psychology: “These new customers for luxury are younger than clients of the old luxe used to be, they are far more numerous, they make their money far sooner, and they are far more flexible in financing and fickle in choice. They do not stay put. They now have money to burn. The competition for their attention is intense, and their consumption patterns—if you have not noticed—are changing life for the rest of us.”
According to a study by American Express, Inside the Affluent Space, the Indian consumer has a desire to prove that ‘I’ve made it.’ He is an aspirer and for him luxury is a reward, which is a mindset very different from a European consumer for whom luxury is an experience.
The India Luxury Review valued the luxury goods market in the country at Rs.19,350 crore in 2007 and the market has grown manifold since then. As per available statistics, the Indian economy has one of the highest disposable incomes and 1,26,000 HNIs (High Networth Individuals) and another 3 million households earning above Rs.10 lakh, who are also ready to consume luxury. As per CII estimates, the user base is huge and the timing ripe to enter this market.
CII organized the second edition of its Luxury Goods Forum as part of the Commonwealth Games Business Forum held in October 2010. This forum was aimed at fostering cross-country collaborations and proposed a way forward to make the luxury retailing sector grow further and faster in India.
The luxury segment could also receive a further boost from the likelihood of the opening up of the retail sector in the months to come.
Let’s Get Physical
Fitness flexes market muscle
Yeah, you’re busier than ever. Yeah, your money is tighter than ever. But, no, it’s not stopping you from staying in shape. Or at least trying to. These days, more and more folks are pursuing easy, inexpensive ways to work out—and, in the process, they’re powering a boom in the fitness sector.
Fitness flexes market muscle
Yeah, you’re busier than ever. Yeah, your money is tighter than ever. But, no, it’s not stopping you from staying in shape. Or at least trying to. These days, more and more folks are pursuing easy, inexpensive ways to work out—and, in the process, they’re powering a boom in the fitness sector.
The educated urban Indian is becoming increasingly health conscious which is spurring a rise in gym and fitness club memberships. As per industry data, the fitness market in India is estimated to be worth around Rs.2,500 crore and growing at about 40 percent year-on-year. The segment has only about 20 organized players forming about six percent of the market. Overall, it still remains a fragmented industry with diverse players at the local level.
Another aspect of fitness is training equipment. As more people join the workforce, having options and products that they can use anywhere—including for a home-based workout—makes sense. Bharatbook.com recently released a report mapping the fitness equipment market in India. As per this report, the market is witnessing significant growth as Indians increasingly become health and fitness conscious. The market was estimated to be worth Rs.1250 crore in 2008 and is expected to reach Rs.6330 crore by 2012. The end-user segments include individuals using fitness equipment at home and institutions like health clubs and corporate houses.
And as technology pervades every aspect of our life, fitness is not lagging too far behind. The recent onslaught of low-cost iPhone fitness apps like iFitness and iWeight Deluxe adds to the ease of staying healthy away from the gym. However, it spells a hitherto untapped opportunity for app developers in a country like ours where traditional wellness/exercise forms like yoga have actually taken shape and been gifted to the world.
©Entrepreneur Media, Inc. All rights reserved.
No comments:
Post a Comment