6 Low-Risk Businesses to Launch in India
One of the first things that pop in the minds of those who wish to launch their own businesses is whether they will be successful or not. However, some level of apprehension is understandable and even justified in most cases. After all, when you are spending your hard-earned money and investing so much time in something, you have the right to be fearful. That said, there are businesses that are less risky but promise good revenue. In this blog, we will shed light on the top 6 of them:
- Coaching Center
According to CARE Ratings, the education sector in India will grow at a CAGR of 11% to 20% over the next few years which is quite impressive compared to other countries. However, you don’t even need this statistic to know that the education sector is one of the largest in India as here we like to value education and career.
If you are good at teaching and have ample knowledge of a subject or two, then you can set up your own coaching center in your house or rent a place for the same. The investment required for this business is quite small especially if you are picking your own property. Plus, finding students won’t be a big problem either unless you already have competition.
- Content Writing Services
If you have worked in digital marketing or content marketing industry, then you know that content writing services are in huge demand today. So, if you want, you can establish your own business around it. You don’t even have to arrange a physical office for the same as you can simply set up a team online and assign them the work as you receive new projects. You can also make your job easier by hiring a virtual assistant to talk to your clients and manage the team when you aren’t around.
- Food Truck
Just like education, food is one of the most popular industries in India. Think about it, people may not buy clothes or consumer electronics, but they will always want delicious and affordable meals. In fact, there is a huge demand for pet food makers too- you can read the story of Woof Yums, India’s only fresh food startup for man’s best friend.
Since opening a full-fledged restaurant is risky and requires a huge investment, you can try your luck with a food truck business instead. You can buy a used minivan, find a good cook who is willing to work at a salary that you can offer comfortably, and pick a spot that gets high foot traffic to get started. The best part about this business is that if a location isn’t working for you, then you can always take the business to a new spot.
- Online Casino
If you love gambling and know some of the most popular games, then you can launch an online casino of your own. Compared to land-based casinos, online casinos are less risky and more profitable. This is because the government considers gambling activities that are carried inside physical establishments illegal. However, there are no such restrictions on online platforms, at least now. This is the reason why hundreds of thousands of Indians try their luck at LeoVegas betting and other gambling platforms.
If you are interested in launching a gambling website or app, then you can obtain all the information you need from the web. However, you will need to invest a decent amount of money to have the service built.
- Yoga Classes
Today, more and more Indians are looking to adopt healthier habits. They want to eat healthy and have a stress-free lifestyle, and for many, living a healthy life actually trumps traveling the world. This is the reason there is a huge demand for yoga trainers across the country.So, if have the required skills and talent, then you can start offering yoga and meditation classes at your home or invite the students to a local park or garden.
Starting a yoga business barely costs anything. You just need to invest in marketing (prints and digital ads, pamphlets, etc.)and maybe yoga mats (if your students aren’t bringing their own).
- Website Designing
New startups are launched in India every day, and each one needs a good-looking and professional website. So, website designing is another business idea that can be quite lucrative. You can either work as a self-employed individual or create a small team that can help you deliver the services to your clients. However, before you get started, you must update yourself with the latest trends in the industry and the kind of technologies that are used by website designers today.
So, there you have it- some of the best business ideas that you can go ahead with. While there is no business that can guarantee success, these options are certainly viable and can work if you are willing to do put in the effort and research about the particular industry you are interested in.