The Indian business landscape is for sure a vibrant one and filled with successful business opportunities. And if you have an entrepreneurial mind then you must be craving to start a business of your own. But the thing is, with so many sectors and industries, people often get confused about which business to start with a decent investment upfront. And if you are someone who falls under that category then don’t worry because our today’s post is tailor-made just for you. Here we will be going over 13 best business ideas under 50 lakh rupees in India.
These business ideas are the best-suited ones if you have around 50 lakhs or less to spend on a business as an initial investment. Here we will be going over why each business idea is a perfect one to start in 2024, and what things you should do or keep in mind before dipping your toes into it. So yeah, let’s get down to it then, shall we?
Business Ideas with 50 Lakh Investment
Here we go:
1. Taking Up Franchises Of Certain Brands
See, starting your own business from scratch can be a little too much for some people, and taking up or owning a franchise of a brand seems like a good idea. And when it comes to franchise opportunities in India, there are literally dozens or even hundreds of options out there. But before you start your quest, you first need to decide which sector or niche you wanna dip your toes into. Let’s say, you want to own a fast-food franchise, then Your next step would be to find out about all the franchise opportunities under that niche, and see which one is a perfect fit as per your budget and needs.
See Also: How To Invest 25 Lakhs for Monthly Income in India
2. Kitchen Spices Manufacturing
Indian cuisine is famous around the globe just because of the spices we use on a day-to-day basis in every dish. If you are someone who is interested in the food industry, then starting a species-manufacturing business in India with 50 lakh rs investment could be just your thing. Within such a business you can do all sorts of things like spice processing, spice blending, packaging, organic spice products, and spice oil extraction. Overall, if you decide to start a small-scale spice manufacturing business, it’ll cost you anywhere between 15 to 20 lakh rupees, and you can scale it up pretty easily in the long run.
3. Medium Scale Pickle Making
People’s love for pickles in India is just on another level. There are literally dozens of types of pickles available in the Indian market. And if you are someone who loves pickles then you can set up your own pickle-making facility or factory. Since there is already a high demand for pickles in the country, there is no doubt that you’d have to worry less about the supply and demand thing. To start this business, you’ll need to focus on preparing a thorough business plan, choosing location and space, investing in equipment, raw materials, production and packaging, and marketing as well.
4. Construction Business
If you already know the ins and outs of the construction business because of your interest in engineering, architecture, or construction management, then it can be a golden opportunity for you. Since you can be really specific in the construction business, that’s why it is important for you to first do market research and niche selection. Then you can move on to other things like a business plan, funding, legal formalities, team hiring, equipment, and project bidding.
5. Cotton Ball
From the looks of it, the Cotton Ball business may appear like a decent one, but it has a lot of potential. You can either go for normal cotton ball manufacturing, or you can also invest in a manufacturing plant where you only produce surgical-grade cotton balls. The thing with this business is that cotton balls are being used in many industries in the country, and that is why there is always a high demand for high-quality cotton balls. So if you can take advantage of that, you’ll find yourself earning a lot of profits in the long run.
6. Disposable Surgical Masks
Before the COVID-19 pandemic, there wasn’t a high demand for surgical marks in the country, but now, it is a huge industry. There once was a time when surgical masks were in shortage in India, but thanks to the manufacturers, now the supply and demand game is stable. However, there is still a lot of potential in this particular niche and a lot of exploration too. Making disposable surgical masks in India will require you to apply for certain certifications like ISO and CE certifications before you even set up a manufacturing facility. So yeah, keep that in mind.
7. Poultry Feed
The Indian government has been promoting and supporting poultry farming in recent years, which is why more and more people are opening up their poultry farms in the country. And you’ll be surprised to know how much poultry feed these farms require on a day-to-day basis. Some people like to make their own poultry feed, but others just head to the market and buy an already-prepared one. Since it is a really simple thing to make poultry feed that is why we have put this business idea on this list. You can try out a poultry feed business on a small scale, and if it works for you then you can easily scale it up in no time.
8. Dine In Restaurant
The restaurant business is something that can work for anyone, but you must do certain things correctly. Like you have to offer the tastiest dishes in your area, have affordable pricing, maintain hygiene, and also advertise. If you want to set up a proper dine-in restaurant then it will probably cost you anywhere between 30 to 50 lakh rupees.
9. Online Niche Product Retailing
The e-commerce market has been booming for quite a while now, and it is still growing at an incredible pace. With e-commerce, you can literally grow exponentially if you do everything right. However, the secret to such growth actually lies in the products you sell. If you have a great product to offer, then you’ll be able to make your online store profitable in the long run. With this business idea, you don’t need to invest heavily upfront. You can start an online niche product retailing store from a small scale, and grow it as the demand for your products rises.
10. Ice Cream Factory
Well, who doesn’t love ice cream? Everyone does, right? And that is why it is said that the ice cream industry in India is a pretty lucrative one. The demand for ice cream rises as the summer approaches, so yeah, at that time of the year, the sales of an ice cream company/brand significantly increase. But the thing is, if you want to set up your own ice cream factory, it isn’t that easy. You’d first have to conduct thorough market research, then prepare a business plan, deal with legal formalities, and then set up the factory.
11. Toys Manufacturing Business
Can you believe that India’s toy market is as big as 1.5 billion dollars? Yeah, you heard that right. This industry is expected to grow at a rapid pace in the coming five years or so. That means, there is for sure incredible potential in starting a toy manufacturing business of your own. Another great thing is that you can further niche down in this industry to make sure that you stay relevant in the industry for years to come. So yeah, if you are thinking of starting a business with just under 50 lakh rupees then you can start a toy manufacturing business on a small to medium scale.
12. Bamboo Products Manufacturing
People in India are becoming more and more inclined towards natural products, and that is why we have included bamboo products manufacturing as a business idea on this list. See, if you were to buy bamboo products in your area you’ll only find a few options, or it could be that there are no options available. That is the direct indication that there is a demand for such products but the supply is very limited. So yeah, if you can start a bamboo product manufacturing then it can give good returns in the long run.
13. Home Electronics Shop
Establishing a home electronic shop in India presents a promising venture, given the nation’s growing appetite for technological innovations. With an extensive range of products such as smartphones, laptops, home appliances, and accessories, the business taps into the ever-evolving demand for electronic gadgets. Strategic location, online presence, and strong supplier relationships are crucial aspects. Total Estimated Initial Investment: ₹1,000,000 – ₹2,200,000
Conclusion
All in all, the PERFECT business idea depends upon your needs and future goals. We have just shared the brief details of each business idea, now it is your turn to actually dig a little deeper and get into the nitty-gritty of your favorite business idea from this list.
Anantha Nageswaran is the chief editor and writer at TheBusinessBlaze.com. He specialises in business, finance, insurance, loan investment topics. With a strong background in business-finance and a passion for demystifying complex concepts, Anantha brings a unique perspective to his writing.
