To start a business in India, 20 lakh rupees is a decent initial investment. And if you have around that much money to spend on a business, you should make sure that your chances of succeeding at that business are much higher. You can do that by simply diving deep into the research part and finding out the best businesses to start under 20 lakh rupees. And if you have already begun your research, but are struggling to find the best business ideas, then worry not because we are here to help.
In today’s post, we will be taking a good look at the 15 best business options under 20 lakh rupees in India. These are by far the best businesses to start with a low investment like that. So, if this is what intrigues you the most, we’ll advise you to stick a little longer with us as we go on with this detour of the best & profitable business ideas under 20 lakh rupees. Here we go to the list of business to start with 20 lakhs:
Business Ideas With 20 Lakh Investment
1. Fast Food Restaurant
In search of the best business idea, people often get confused and start procrastinating, and if you are someone who doesn’t wanna do that then you should dip your toes into the fast food restaurant business. It is by far the easiest to start and requires way less than 20 lakh rupees to start in India. The chances of you succeeding in this business are way higher than other businesses on this list, and that is simply because of the fact that there is way too much demand for fast-food restaurants these days.
2. Premium Clothing Store
You may be thinking like “There are already plenty of clothing stores in my area so why should I invest in one?” Well, the thing is, if you do everything right and focus on marketing your store then you are bound to get a lot of footfall in your store, even if there is high competition in your area. And we are not saying that you should open just an average clothing store, we advise you to invest in a premium clothing store because nowadays there is very high demand for quality and premium pieces of clothes.
3. Gym/Fitness Center
If you look around a little bit, you’ll find that everybody nowadays has become health conscious, and that’s why they are going to gyms and fitness centers to stay fit and healthy. Looking at this demand, we can surely say that gyms and fitness centers are successful businesses to start in 2024 in India. You can start on a smaller scale by investing in proper space and high-quality equipment for your gym or fitness center, and from there you can easily scale in the long run.
4. Digital Marketing Agency
Since everything is digital nowadays, more and more offline businesses want to dip their toes into the online world. And that is precisely where the role of digital marketing comes in. It is true that if done right, digital marketing can do wonders for a business and make it a sensation in a short period of time. So yeah, you can start your own digital marketing agency by hiring a few experts in this niche, and then offering the services to these businesses. If you do it correctly, it won’t even cost 20 lakh rupees because all you need to invest in is a good and experienced team, devices like computers and other things, and a decent place for your team to work.
5. Travel Agency
If you are already passionate about travel, then of course, starting a travel agency would be a perfect fit for you. See we all know how big of an industry it is, and how much people like to travel, not just in India, but around the globe. Right? Well, considering that, if you start a travel agency from scratch, execute everything correctly, and market your travel packages to the right audience then your chances of succeeding with this will increase significantly.
6. Coaching Center
If you have been a good student in your time, and you are feeling passionate about teaching kids nowadays, then you should definitely look into opening up a coaching center in your area. It is true that this niche is almost getting way too competitive and saturated, but it depends upon you what you can do differently than others. Just hire a few teachers who are experts in individual subjects, and rent out a place where students can study peacefully, and that’s all you need.
7. Small To Medium Scale Manufacturing
In the coming few years, India’s goal is to become a manufacturing hub of the world, and that seems possible looking at the growth of India’s manufacturing sector. And there is a huge impact on small to medium-scale manufacturers in all of this. So, if you have a knack for manufacturing products and you understand the overall process, then it might be a great idea for you to start a manufacturing business of your own.
8. Car Rental Business
If you search it on the web, you can easily find many success stories where a person started a car rental business and it became incredibly successful in a year or so. Well, execution-wise, starting a car rental business is somewhat simple. However, you’ll require permissions and permits before you do that, so yeah, pay attention to that part as well. If in your area, there is no car rental business available already, then it can be a golden opportunity for you.
9. Pet Grooming Business
Let’s say you have a natural affection and love towards pets and animals, then starting a pet grooming business could be just your thing. That way, it’ll be a lot of fun for you, and you can eventually make it profitable for you in the long run. If it is common for people in your area to keep pets, then for sure they’ll be attracted to a pet grooming store. And yeah, it won’t cost you as much as you think to start a pet grooming business of your own.
10. Proper Cyber Cafe With Necessary Amenities
Yeah, we know that the concept of cybercafes is pretty old, but still, it works in India. And that is because a lot of people want to learn to use a computer, use a computer when they don’t have access to their own, and simply some people want to just sit and enjoy the wifi of your place. However, it would be great if you research it and see how much demand for a proper cyber cafe is in your area. If you decide to open such a cyber cafe with all the basic or necessary amenities, then it should cost you no more than 20 lakh rupees.
11. Mobile Shop
From the looks of it, you may think that starting a mobile shop could be a bad decision, but in reality, there is so much demand for mobile shops that know their customer base. If you can open a mobile store with a bunch of smartphone options, repair facilities, and accessories of all sorts, then you can make your mobile shop successful in no time. However, you’d have to focus on the advertising part since there is already way too much competition in this niche.
12. Poultry Farming
There is way too high demand for chicken and eggs in the Indian market, and that’s why poultry farming could be your golden ticket if you are looking forward to starting a business in 2024. However, it may not be everyone’s cup of tea, but if you are ready to do anything to be successful in 2024 and in the future, then yeah, you can give it a shot. And you’ll be glad to know that the government of India is also supporting and promoting poultry farming through various schemes in the country.
13. Craft Beer Microbrewery
As you may already know, beer lovers are literally everywhere. That’s why the idea of starting a craft beer microbrewery seems like a good one. Right? But the thing is, not everyone can start this business because it could be that there are some restrictions regarding such a brewery in your region. So yeah, if there are no such restrictions in your area, then you are bound to succeed with this one in the long run.
14. Event Planning and Management:
If you have a flair for creativity and organization, starting an event planning and management business can be a rewarding endeavor. Coordinate weddings, parties, corporate events and more. Network with local vendors to provide a one-stop solution for your clients.
15. Online Retail Store:
Create an e-commerce platform and sell products that cater to a specific niche. This could include handmade crafts, unique apparel, or specialty items. With the right marketing strategy and a user-friendly website, you can attract a broad customer base.
Conclusion
There you have it. Now you can select the best business idea from this list as per your budget, needs, and future goals. Since we have just explained the things about each business idea on the surface level that’s why we’d advise you to do some of your own due diligence before jumping head first and trying out any of the business ideas mentioned in today’s post.
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.
