India‘s business and work landscape is growing day by day. With new technologies like POS systems coming up in the market, this is the perfect time to start something of your own and turn some good business plans into reality. You can choose to go ahead with the best business ideas with a decent investment of under 20 lakhs. This will also open up some great opportunities for you to succeed ahead.

Whether it’s a retail store, food franchise or a simple restaurant. Whatever you might want to start, here we have created a list for you to choose whatever business suits best for you in the long run based on the Indian market conditions and other factors.

Catering Services

India’s culture welcomes food and cooking with open arms. If you are passionate about these two things, you can start a catering business right from your home kitchen. These services can be provided for the wedding parties, anniversary celebrations, birthday parties and so on. You can obtain a profit margin of up to 30% in India. It is definitely the best business plan to go ahead with.

Fitness Center or Gym

Health-awareness in different cities or towns in India is at an all-time high. It is important to note that with this business you can gain a good amount of profit margin up to 20%. Nowadays, people want to look great, healthy and keep their body fit. With such a landscape, you can target customer segments like Young teenagers, students, fitness enthusiasts etc.

E-Commerce Store

Since the demand for online services is increasing in our country, opening an e-commerce store will be beneficial for you. You can sell products such as cosmetics, groceries, general retail items, or specific products such as toys etc. You can gain a profit margin of up to 10% with this business plan and can target a wide range of customers, be it elderly people, kids, parents, office workers etc.

Restaurant and Cafe

One of the best business ideas in India for gaining huge profits is to start a restaurant or cafe with a unique ambience. Food can never go out of demand in India and you can choose to keep customized cuisines such as North Indian, South Indian, Italian etc.. If your restaurant runs successfully, you can expect a profit margin of around 15%. All ages of people love eating out and hence your customer segment is never going to be restricted. You can also integrate your services with an efficient restaurant billing system for better operations.

Electronic Showrooms

Technology is growing a lot in India. It is important to note that people need good gadgets at a low price. Starting a small electronics showroom will be helpful for the homemakers, office workers, and other local people who are looking forward to buying basic home appliances, computer hardware, and mobile phones. You can obtain a profit margin of up to 30% with this business plan.

Footwear Store

The demand for the footwear industry is never ending. People not only wear shoes but there is also a high demand for comfortable sneakers and traditional footwear. Starting a footwear store can be done easily with an investment as low as 10 lakhs. Everything requires careful planning and you can gain a net profit of up to 30% with this business. You can target customers such as kids, young adults, wedding customers etc.

Spa or Wellness Centers

India is well-known for health, massages and other beauty treatments. Opening a spa or wellness center will attract a huge number of customers such as women and young office going adults. This business plan can also give you a good profit margin of up to 40% depending on the services you offer to your local customers.

Digital Marketing Agency

Unlike many other businesses, a digital marketing agency requires a low-scale investment of 10-15 lakhs. You just need a team of skilled digital marketers and people who know all about marketing strategies. Focusing on ideal clients can bring a lot of business and you can gain a profit of up to 25% with a good client base. Your customers can be local business owners, startups selling particular products or services and so on. 

Which digital tools and technologies can help me grow my business?

If you’re starting a business under an investment of 20 lakhs, using the right tools and technologies can help you achieve heights and gain profits. Managing inventory, customer support, transactions and accounting, everything needs a simpler process. Using modern technology always helps when you want to take your business on a larger level. Along with this, managing customers and providing them with discounts, offers, vouchers etc. will be a key in making a strong business.

Not just this, India has built a strong online presence and everything happens on fingertips with just one click on the go. Be it a small retail shop or a big supermarket, everyone is going digital with their payments for better satisfaction of business owners and customers both. Here’s some tools and technology that you can also use to grow your business plan.

• POS Solutions: Using a good POS billing software can help manage your billing, inventory, sales, reports, loyalty programs, and much more.
• Cloud accounting software: Manages cash flow, compliance, taxes etc. Eg: TallyPrime
• Social media and digital marketing tools: Essential for customer engagement, online sales and brand awareness.
• Cloud storage: Helps teams work easily and store data in a secured way. Eg: Google Drive, Dropbox etc.

Conclusion

Whatever business you want to start, India has a huge market for all kinds of sectors. These best business ideas in India have a great potential for reaching great heights. Choosing a business plan that also aligns with your interests and skills is equally important. There are no limits as to how much profit you can make if you do proper planning and research before starting out in the market. With the help of the right technology such as a POS software, you can increase your sales to another level in just a short period of time.