Are you an Indian wanting to start your own business at a low budget? Then you’re at the right place. India is well-known for its diverse culture and growing businesses. No matter which city or town you belong to, there is a vast ecosystem for people to take up profitable ideas and start their own journey. 

With the right strategy, execution and efficient technologies like a robust POS system, choosing a business that aligns with your passion and skills will ensure long-term success. If you’re someone looking to expand your startup zeal and need some good ideas with low investment, here are some rewarding business ideas under 5 lakh that you can explore ahead.

Kirana Store

With careful planning and good pricing, starting a kirana store in India will definitely be profitable for you. You can easily hit a profit margin of up to 20% if you decide to open a general store with common household items and daily need products. You must also target customers such as local households and families, senior citizens, daily wage workers, local business owners and students. Daily kirana requirements are a must for everyone in India and this is definitely one of the top business ideas you can start on the go.

Bakery Shop

A lot of people in India are passionate about baking. If you are also one of them, this business idea is surely for you. You can aim at achieving a profit margin of up to 40% if you start this business. You can also start a home-based bakery, selling items such as cakes, pastries, baked breads on birthdays and anniversaries within the comfort of your home. A few target customers for you can be: homemakers, teenagers, college students, local restaurants or cafes, party planners, tourists etc.

Clothing Store

Fashion and clothing is widely celebrated in our country. On festive occasions and parties, people wear both traditional and western clothing. If you love the boutique industry, then opening a clothing store is just right for you. This business provides a profit margin of up to 60% which is quite high as compared to other business ideas and if you use a good technology for quick billing purposes, then the margins can go higher. Your target buyers would mostly be kids and parents, women, wedding shoppers, office workers, middle-class consumers etc.

Sweet Shop

Sweets and Namkeen have an importance like none other in India. Whether it’s holi or diwali, items such as rasgullas, gujiya, samosas and kachoris are present in every other household. Opening a sweet shop can definitely get you a profit margin of around 40% and you can easily sell your items to local households and families, wedding and event customers, health conscious buyers, tourists etc. You can also keep customized sweets such as gud mithai or sugar-free organic sweets for health conscious buyers.

Flower and Gift Shop

In India, there is an increasing demand for flowers and gifts especially with so many festivals, weddings and birthdays coming in on a daily basis. With proper planning, this can be one of the best business ideas under 5 lakh that you can explore with a maximum profit margin of up to 70%. You can sell fresh and artificial flowers, unique gifts, cake and chocolate bouquets and so much more. Your target market here would be: birthday and anniversary buyers, couples, religious ceremony buyers.

Mobile & Accessories Store

Smartphones, tablets and other electronic accessories are being used in our country at a growing rate. Using a phone has become the need of the hour and with this starting a mobile shop can be one of the most fulfilling business ideas under 5 lakh with a profit margin of up to 40%. A lot of people need repair related services, spare mobile parts etc. You can aim at targeting working professionals, students, office goers, second-hand mobile buyers for a better customer base.

Cosmetics Store

The beauty and cosmetics industry in India is growing. There is a huge demand for skincare, makeup and personal care products. Here you can gain a profit of up to 20% initially but if you continue to become a known brand, it can go to 50% as well based on the tech integration and usage of a good POS software. You can sell ayurveda based beauty products, herbal cosmetics, haircare products and so on. Your target market would mostly be brides and wedding shoppers, beauty parlor and salon business owners, teenagers and college students etc.

Fruit and Vegetable Shop

Starting a fruit and vegetable shop is one of the evergreen business ideas in India. With an increasing demand for fresh fruits, setting up a shop within a budget of 5 lakh is definitely possible. You can start your shop near a residential area and obtain a profit margin of up to 40% within sometime. You can also choose to stock up high demand seasonal fruits for customers such as local residential customers, restaurants and hotels, health-conscious people, elderly customers and homemakers.

What are the modern technologies which can help to grow your business faster ? 

Whatever business idea you choose to go ahead with, a good android billing software can easily streamline your business by streamlining your billing, inventory with the help of an inventory management software, facilitating digital payments, online store facility and so much more. POS isn’t just a simple software, it is an all-in-one complete solution for your business and you can take proper advantage of this for improving your overall sales as well as customer satisfaction. You can also gain valuable insights into your business via reporting and analytics which ultimately allows you to make informed decisions.

Investing in the right POS solution is worth it, you can skip all the manual hassles and transform yourself towards a modern and digital domain of operating your business. Here’s a few things that a one stop POS solution would do for you:

• Streamlines your billing invoice and transactions.
• Real-time stock tracking.
• Customer satisfaction via loyalty programs.
• Bulk data management via cloud dashboards.
• Digitize your khata/Digital ledger.

Conclusion

Starting a business under 5 lakh in India might seem difficult, but by understanding the market needs, offering quality service, and adopting effective marketing strategies, you can choose to opt for a business catering to your skills and interest. Now since you have decided to start your business and take a step ahead, choosing the ideal POS software will be useful in making your business operations easier as well as simplified.