Instead of being employed in the private sector, many people prefer starting their ventures and creating employment. You can make a small start by creating any trading business in India. Trading businesses are relatively easy to create and maintain. A limited amount of research or capital is required to set up the trading business, which makes it a lucrative option. We would like to mention that the trading company sells different products to consumers, government companies and business houses. These companies procure the products from manufacturers or wholesalers and sell them at the margin.
Many people also register as authorized trading partners of a particular company to get more advantages while running the trading company. In addition, the scope of the trading company is vast. You are not bound by the choice of products or by the choice of brands. Moreover, the stock carrying capacity can vary per your size of operations and facility. You can keep most of the stock at the warehouse and sell them as required. So, if you are planning to start a trading business and want some evergreen ideas, we are here to help you. We have shared the top 10 best trading business ideas in India in 2023. Move on to the next section and find out more about the same.
List of Top Trading Businesses in India
We have looked at various factors before sharing a list of the best trading businesses for you. The magnitude of investment is generally limited for these businesses, so you won’t have to worry about financials much. Go ahead and check out the list in the section below.
1. Silver and Junk Jewellery
If you wish to opt for retail trading, you can opt for silver and junk Jewellery. It can be a small outlet, and you will be able to make a lot of our small space. The demand for polished silver jewellery, silver Jewellery and other artificial Jewellery is rising. You can opt for such things, and if you can find retail space in a busy market, there is nothing better. You can even try costumes and junk Jewellery in the same outlet.
2. Garment or Textile Trading
The next option for trading is the garments or textile domain. Here, we don’t want you to try branded clothes but something else. For example, you can choose sofa material or other fabric in textiles. You can even choose bedsheets or unbranded clothes that are easy to sell. Many people prefer unbranded stuff, and this is where you can get an edge. In addition, you can add locally manufactured footwear and improve your sales.
3. Scented Candle & Home Decor
At number 3, we recommend scented candles, humidifiers, diffusers, and other home aromatic products. Recently, people have started spending a lot on these things. Apart from this, they are easy to sell as well. You can procure high-quality locally made scented candles and Chinese diffusers to sell them to your target customer. The margins are great, and hence you can make the business more attractive by offering discounts to the people.
4. Green Tea Trading
Next on the list is green tea trading. This option is very popular in today’s society, and a huge variety is available in the market. You can even create your brand by packaging locally procured green tea. The profit margins in green tea trading are amazing, making the industry very lucrative. You can explore these options and even sell them on e-commerce. If you can add a set-up for sampling/tasting the green tea, your sales would be better.
5. Personal Care Products
Another idea that you can exploit is personal care products. This can include beauty or FMCG products. The market is ever-growing, and people opt for specialized personal care products. You can have a section for herbal products since those are in demand, and the customers are ok to pay a premium for such herbal products. Again, this is quite a lucrative option, and the investment required is very low. It is a domain worth exploring; you can have products for both men & women.
6. FMCG Products
FMCG or fast-moving consumer goods are always in demand, and they are always considered lucrative. These products are easy to sell, and there is a quick turnaround in this domain. You can also maintain a small inventory as the supplies can be procured regularly. The margins might be low on FMCG, but the economies of scale make it worth the sale. You can tie up with stores like Amazon Fresh, Swiggy Genie and Dunzo to exploit the online sales of FMCG products.
7. Mobile Accessories
One of the most popular options today is the mobile accessory shop. You can start with tempered glass, covers, headphones and other accessories. The market for mobile accessories is huge, and they are always in demand. The margins are huge, and you can even exploit the online space for mobile accessories. You can add some other basic items like power banks, chargers, car mounts for mobile and portable speakers to offer a variety to your customers.
8. Computer Peripheral
Similar to mobile accessories, you can explore computer peripherals. This can include webcam, mouse, keyboard, printer, graphic cards, displays and other computer peripherals. You only need to note that this option would require a higher capital infusion because of the cost of these accessories. So, if you don’t mind a higher investment, then a computer peripheral trading business can be a good option.
9. Agricultural Products
At number 9, we have agricultural products. Here, you can start trading seeds, machinery, agrochemicals, pesticides, manures or gardening equipment. You can easily target urban or rural populations and modify your offerings accordingly. The margins and the economy of scale make this business an option worth considering.
10. Bags and Accessories
Many people avoid getting branded expensive bags; instead, they prefer local bags with almost similar or better quality. You can explore this domain while you are looking for a trading business. In addition, you can also check out the leather bags for men & women. The branded options are expensive, but the locally produced leather bags are very affordable, and the quality can be much better.
Can I Sell Multiple Products in Trading Business?
You can sell multiple products across multiple domains in your trading business. A classic example of this can be the supermarket in your neighbourhood. They are selling groceries, stationery, beauty products and whatnot. Hence, you can also choose to diversify the products you are selling, which will most certainly give you an edge in sales and customer footfall.
How Should I Proceed With Opening a Trading Business?
- Market Analysis – Before starting a business, you need to do some market analysis. You need to think about the product that you would like to sell, and you also need to look at your geographical location. In addition, you must also look at the other demographic details and the requirements of that particular area.
- Target Domain – In the next part, you must understand your market segment and what product would suit you best. This is where you analyze the product, quality, pricing and other factors. You must spend some time here as this can define your sales and profitability.
- Supply Chain – Once you have decided on the product, you must establish a supply chain. You would need to find wholesale suppliers, competitors and other aspects of the supply chain. This will help you with the product procurement when you are ready. This is also when you define credit policy and other business terms.
- Business Registration – In the next step, register your business and get your shop ready. Once the legal paperwork is completed, you can also work on registering your organization on e-commerce. This will help you sort things out and enable you to open your shop for the customers.
- Maintenance – The last step here is the maintenance of the business. You can focus on the digitalization of the accounts and sales. This will help you manage the inventory and financials in a better way. This is when you focus on customer service and the operations of your trading business.
Final Verdict
Trading can be a very profitable business in India. You can start the business with minimal investment, and at the same time, you only need a small staff for this type of business. In such a case, your fixed costs are limited. What we have shared on this page are just some examples of the trading business in India. You can try different options, and innumerable options are available. You can also exploit the power of digital marketing and e-commerce to maximize your profits. The advantage of trading online is that your business is always open to customers when you take it online. It is not dependent on the shop timings anymore, and eventually, we have seen maximum orders for the trading businesses start coming from these e-commerce platforms.
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.
