Which is the most profitable business in India? It is the question that strikes every individual who is to step in the business field. For many enthusiastic entrepreneurs today, coming up with new and innovative business ideas is becoming increasingly complicated.
Believe it or not, some businesses might seem common but are still remarkably valuable. To support you with some ideas, we have come up with a list of profitable business in India.
Let’s take a look at the top 10 most profitable business in India you can start today.
1. Insurance Agent
‘Precautions are any day better than cure.’ is the great saying. Today, the area of precaution is not only confines to the medicinal part but has also included elements of safety via Insurance to all levels. From getting your life insurance to general safety insurance, the firm takes care of you and immediate ones beyond your life. To create a sense of belongingness amongst the employees every organization has provisioned an Insurance Policy for their staff. While firms are providing insurance to their employees, individuals also need to have general insurance policies from their side too. Since Insurance has become a basic part of financial planning, this could turn into the most profitable business in India.
2. Real Estate Agency
With urbanization and globalization flourishing in the current scenario, more and more people are seeking good space to settle in. Due to which the Real Estate sector has gained a lot of interest. A survey forecasts that real estate sector in India is expects to attain a market size of US$ 1 trillion by 2030 from US$ 120 billion in 2017. It is expected to contribute 13 percent of the country’s GDP by 2025. This has led to the setting up of a large number of Real Estate Agencies all over. The agents tend to showcase great project deals to the clients and generate high-end margins. You can start this small business and earn a 2% to 6% commission on the property value.
3. Labor Contractor
Contract Labor intends a specified person who signs a deal with you for providing any type of specified labor work. In today’s time, manpower is one of the most worthy ingredients to every business. Manpower is a requisite to any venture, be it a building project or production line, or any other sector. Today, the success of a project mainly depends on the smooth workflow, and that in turn depends only on the labor that is working for you. Managing and organizing labor these days are very tedious tasks.To uncover a balance, a group of Labor Contractors give you some valuable and quick service of labor supply. If you are looking for good margins of profit, this could prove to be the most profitable business in India.
4. Cleaning Service Business
Today, the scrap business has become one of the most ongoing, growing, and esteemed businesses. The awareness drive for maintaining cleanliness has raised much more than ever before. Also, the dumping zone areas like re-cycling of resources, re-utilizing things to the best have seen exponential growth. So, you can get started with the Cleaning Service Business just like a Rags tag team, Dirt Devils. This will not only add value to your business profile but also society.
5. Co-working Space Venture
In today’s era, the land is becoming one of the scarce and expensive tools. This has led to changes in the trend of future services offices. With the high rise in rental spaces for professional services, it is very difficult and more struggle-some for startups and small businesses to afford a separate office space. So, to make businesses more viable and cost-optimal, a new idea of sharing the working space came up. This innovative business will not only help in reducing rental expenses but will also enable the sharing of expertise and skills. If you have a free space that can make a productive platform, you can start this Coworking Space Business.
6. Affiliate Marketing
It is being predicted that businesses that stand for the collaborative economy model will attract immense fruitful responses in the coming years. Some of the prominent examples are Amazon, Flipkart, etc. Such services not only accredit the final consumer but also help the service provider to fetch great commission margins. This affiliate marketing is considered the most prominent home-based profitable business in India.
7. Travel Agency to prepare travel arrangements
Travel plan sets out to be one of the most enticing and fast-growing businesses in recent times. If you are a journey freak or love to explore places, you will enjoy settling down with this Travel arrangement business plan. You can earn a good package by exploring different places, something that you love doing.
8. Organic Farming and other Consumables
Selling organic products has become one of the fanciest businesses of current times. Somebody owning farmhouses or vacant land have the opportunity to instigate organic farming and retail them at a high price. Since the population is moving towards consumption of organic products, this is considered the best profitable business in India with low investment.
9. Wedding Planner
Organizing a wedding function has turned out to be a great saga. It requires an enormous amount of planning, from booking the destination to managing the crew to make a wedding successful. And that’s why Wedding Planners play a vital role in engaging a wedding proposal to happen. Turning a wedding planning course into an entrepreneurial segment will help you earn a lucrative business and develop a networking channel, thereby managing multiple things at one time. If you are good at planning and executing, this could be the best profitable business idea for you.
10. Fashion Boutique
This profession is convenient concerning mobility and breaking the boredom with routine life. Opening a fashion boutique is one of the most eye-appealing businesses in today’s time. If you can sense the market trends and choices, this professional is for you.
This is the list of the top 10 most profitable business in India that are currently flourishing. The Indian market is also home to many other ventures and businesses. At last, it is the entrepreneur’s expertise in finance, skill, and effort that determines the scope of development of any business.
Make sure you also check our other amazing article on Most Profitable Franchise Business in India