23+ Business Ideas Under 1 Lakh in India (2024)

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The spirit of entrepreneurship is burning bright in India!  With a young and ambitious population, there’s a growing interest in starting businesses, especially those that require a low initial investment.  If you’re looking to be your own boss and enjoy the flexibility of running your own venture, this blog is for you!  Here, we’ll explore 25 exciting business ideas that can be launched in India with an investment of under 1 lakh (₹1,00,000). But before we look at the ideas, let us understand some of the key factors you should consider before starting your business.

5 Factors To Consider Before Starting Business Under 1 Lakh:

Before starting a business, consider these key factors to enhance success potential in your business in 2024:

1. Market Research: Conduct in-depth research to understand market trends, consumer needs, and competition. Identify emerging sectors and unmet needs that match your abilities.

2. Feasibility Analysis: Assess the practicality of your business idea, considering investment needs, resources, scalability, and market competition. Use SWOT analysis (Strengths, Weaknesses, Opportunities, and Threats) to evaluate the venture’s prospects.

3. Target Audience: Define your target market and comprehend their preferences and challenges. Tailor your offerings to address their specific needs, gathering feedback to fine-tune your product or service.

4. Agility: Remain flexible and adaptable to respond to market changes and evolving consumer preferences. Be ready to adjust your strategy to stay relevant and competitive.

5. Ongoing Development: Continually enhance your knowledge and network. Participate in industry events and connect with peers for insights and collaboration, keeping abreast of trends and best practices.

Also, Read: How to Get a 10 Lakh Business Loan?

25 Business Ideas Under 1 Lakh in India 2024

Home & Decor Business Ideas

1. Handmade Candles: Starting a handmade candle business involves crafting candles from materials like natural waxes, essential oils for fragrance, and various dyes for color. The process includes melting the wax, incorporating fragrances and colors, and setting them in molds. These candles are sought after for their aesthetic appeal and personalization options, which are ideal for gifts and home décor. Marketing efforts can focus on online platforms, local boutiques, and craft fairs, emphasizing the unique qualities and handmade nature of the candles.

2. Incense Sticks (Agarbatti): Producing incense sticks involves blending natural ingredients like herbs, resins, and essential oils onto bamboo sticks. This business caters to individuals seeking to enhance their home environment or spiritual practices. The key to success is creating a variety of fragrances that appeal to different preferences and effectively packaging them to retain freshness. Sales channels can include spiritual shops, online marketplaces, and wellness centers.

3. Jute Bags: Jute bag manufacturing focuses on producing eco-friendly bags from durable, biodegradable jute fiber. These bags can be styled for multiple uses, including shopping, fashion, and storage, and they appeal to environmentally conscious consumers. The business requires minimal setup but a good eye for design and functionality. Marketing these bags through eco-stores, online platforms, and local markets can tap into the growing demand for sustainable products.

4. Organic Soap: Organic soap making involves using natural ingredients like plant oils, butters, and botanical extracts. This business appeals to consumers interested in chemical-free and skin-friendly products. Techniques like cold process or melt and pour soap making can be used to create bars with various textures and properties. Marketing these soaps through organic health stores, online, or at craft fairs can target customers looking for premium, natural skincare.

5. Upcycled Furniture: Upcycling furniture involves refurbishing old or discarded furniture into stylish, functional pieces. This requires skills in restoration and creative design to transform unwanted items into desirable home décor. Selling points include the uniqueness of each piece and the environmental benefits of upcycling. Marketing through social media, local interior design shops, and flea markets can attract customers looking for one-of-a-kind furniture.

Food & Beverages Business Ideas

6. Pickles: Making and selling pickles involves preserving fruits and vegetables in brine or vinegar with spices. This business can capitalize on regional preferences by offering a variety of traditional and innovative flavors. The key is maintaining high-quality production with attention to taste and hygiene. Pickles can be marketed through local grocery stores, online food platforms, and regional markets, appealing to customers looking for authentic, homemade flavors.

7. Bakery Products: A small bakery business focuses on producing fresh, homemade baked goods like bread, cookies, and cakes. Success depends on the quality of ingredients and the distinctiveness of products. Local cafes, farmers’ markets, and online orders are effective sales channels. Offering custom baking services for events and special occasions can also attract a loyal customer base.

8. Ice Cream Cones: Producing ice cream cones involves creating cones from dough that is then baked into crisp, sweet holders for ice cream. This business can be linked with local ice cream shops or sold at community events and fairs. Innovations in flavors and cone types can offer a competitive edge.

9. Spice Mixes & Blends: This business involves creating unique blends of spices for cooking various dishes. Success hinges on the ability to develop distinctive, flavorful combinations that cater to diverse culinary traditions. Packaging and branding are crucial to stand out in grocery stores or online marketplaces where gourmet cooks and enthusiasts seek quality spices.

10. Homemade Chocolates/Desserts: Specializing in luxury chocolates or desserts involves using high-quality ingredients and intricate techniques to create exceptional treats. These products are perfect for special occasions and can be sold in high-end gift shops or through online platforms that cater to gourmet buyers.

Fashion & Accessories: 

11. Buttons and Designer Lace: This niche targets the fashion and crafting industry by providing unique buttons and designer laces that add a distinct touch to clothing and textile projects. For entrepreneurs in this field, success hinges on the ability to source and curate a diverse array of high-quality materials that cater to varying tastes and design needs of fashion designers, tailors, and DIY enthusiasts. By offering a wide selection of unique and decorative buttons and laces, a business can set itself apart in a competitive market. To broaden their customer base and boost sales, entrepreneurs can leverage online platforms to reach a global audience and form strategic partnerships with fabric stores and design schools. These collaborations can help ensure a steady demand and provide visibility among core customers who value creativity and customization in their fabric projects.

12. Fashion Jewelry Making: Engaging in fashion jewelry making allows creators to design and craft trendy accessories using a variety of materials like beads, semi-precious stones, and metals. This business thrives on the ability to keep up with fashion trends and understand consumer preferences, offering custom jewelry designs that appeal to a diverse clientele. The key to success in this market is differentiation through unique products and personalization options that cater to individual style statements. Entrepreneurs can market their jewelry through online marketplaces that provide access to a broad customer base and through local boutiques that offer the advantage of reaching customers who prefer to see and try on jewelry in person. Establishing a strong brand presence online and offline with high-quality visuals and engaging marketing can attract and retain customers.

13. Customized Phone Covers: In the customized phone cover business, entrepreneurs can tap into the market of smartphone users looking for unique, personalized phone cases that reflect their personal style or interests. This business model benefits from using digital tools that allow customers to design their own covers or select from a range of pre-designed, fashionable options. The key to attracting and maintaining a customer base is offering high-quality prints and durable cover materials that protect phones while also being stylish. Effective marketing strategies include leveraging social media platforms to showcase designs and creating partnerships with device retailers to reach a wider audience. An online store can serve as a primary sales channel, providing a user-friendly interface where customers can easily customize and order their phone covers.

14. Cloth or Jute Bag Making: Making cloth or jute bags meets the growing consumer demand for sustainable and fashionable alternatives to plastic bags. This business can focus on creating designs that are not only eco-friendly but also stylish and functional, appealing to a broad market segment including eco-conscious shoppers and fashion-forward consumers. Success in this area depends on the ability to offer a variety of designs, from simple and utilitarian to sophisticated and trendy, ensuring there is a bag to match every taste and purpose. Selling these bags in local markets, through online stores, and at eco-centric events can help reach a wide audience. Additionally, partnering with local businesses and organizations for customized bag solutions can provide steady business and enhance brand visibility.

15. T-shirt Printing: The custom T-shirt printing business caters to customers looking for personalized clothing for events, promotions, or personal wear. Using techniques like screen printing and digital printing, entrepreneurs can offer high-quality, customized T-shirts with various designs and messages. This service is particularly popular for groups, events, and companies looking for promotional items that make an impact. Establishing a robust online presence where customers can design and order their T-shirts is crucial. Additionally, participating in local events and markets can raise the business’s profile and attract a diverse clientele. Effective use of social media marketing to showcase designs and share customer testimonials can also drive engagement and sales.

Services: 

16. Home Tutoring: Home tutoring taps into the personalized education sector, where there’s a significant demand for tailored learning experiences. This business is ideal for individuals with expertise in specific academic subjects who can cater to students of various ages, from young children to college students. Tutors can differentiate their services by offering specialized knowledge in areas like mathematics, science, language arts, or test preparation. Key to success is the tutor’s ability to adapt lessons to individual learning styles and needs, thus enhancing student understanding and performance. Marketing strategies might include word-of-mouth referrals, local advertising, and maintaining a strong online presence through a professional website and social media. Engaging with local schools and community centers can also help build a client base.

17. Event Management (Small-Scale): Small-scale event management focuses on planning and executing intimate gatherings such as birthday parties, baby showers, and small weddings. This business requires excellent organizational skills, creativity, and a keen eye for details to ensure every aspect of the event is handled from concept to cleanup. Success in this field comes from the ability to create memorable, stress-free experiences for clients. Building a portfolio of successful events and testimonials can attract new customers. Networking with local vendors—like caterers, decorators, and photographers—and leveraging social media for visual marketing can significantly enhance business visibility and growth.

18. Social Media Marketing: As digital platforms become increasingly integral to marketing strategies, there’s a growing need for skilled social media managers. This business involves managing a company’s interactions with the public through social networks by creating content, running ads, and engaging with followers. The goal is to increase visibility, enhance brand loyalty, and drive sales. Successful social media marketing requires staying up-to-date with digital trends and platform changes. Offering services like targeted advertising, content planning, and analytics can appeal to businesses looking to refine their online presence. Building a strong portfolio and using case studies can help in attracting a diverse range of clients.

19. Freelancing (Writing, Graphic Design): Freelancing in writing and graphic design allows individuals to offer their creative services on a global scale through platforms such as Upwork, Freelancer, and Fiverr. This career choice offers flexibility and the opportunity to work on a wide variety of projects across different industries. Writers can produce content like articles, blog posts, and ebooks, while graphic designers can create visual content such as logos, branding materials, and website designs. Success as a freelancer depends on building a strong reputation through quality work and positive client feedback, as well as effective self-promotion and networking to continuously attract new projects.

20. Web Development/Maintenance: Offering web development or maintenance services caters to small businesses needing professional websites without the in-house technical expertise to create or manage them. This business can range from building simple websites to providing ongoing support for more complex online platforms. Skills required include proficiency in web languages like HTML, CSS, JavaScript, and familiarity with content management systems. The service can expand to include SEO optimization and security updates, which are crucial for keeping websites functional and safe. Effective marketing strategies involve showcasing a portfolio of created websites, networking through business events, and leveraging online platforms to reach potential clients looking for web solutions.

Ideas Beyond The Usual

21. Mobile Phone Repair: The mobile phone repair business capitalizes on the ubiquitous use of smartphones and the frequent need for repairs. This business requires an initial investment in tools and equipment necessary for tasks like screen replacement, battery changes, and other common hardware issues. Additionally, acquiring training and certifications in mobile technology repairs can enhance credibility and expertise, making the service more attractive to customers. Effective marketing strategies include offering speedy repairs, competitive pricing, and exceptional customer service. Setting up a physical repair shop in a high-traffic area or offering mail-in services can help increase customer reach. Additionally, maintaining a presence on social media and online local business directories can drive more traffic to the service.

22. Gift Basket Curation: Gift basket curation involves creating attractive, themed baskets filled with various items tailored for specific occasions such as holidays, birthdays, or corporate events. Success in this business hinges on the ability to design aesthetically pleasing and context-appropriate baskets using quality products. Partnering with local businesses to source unique items can add a special touch to the baskets and support the local economy. Effective marketing strategies include creating a robust online presence, utilizing social media to showcase beautiful basket designs, and engaging with corporate clients for bulk orders. Offering customizable options and reliable delivery services can also enhance customer satisfaction and retention.

23. Plant Nursery (Focus on Low-Maintenance): Starting a plant nursery focusing on low-maintenance indoor plants caters to the growing trend of home gardening, especially among those with busy lifestyles or limited gardening space. This business would involve cultivating a variety of durable and easy-to-care-for plants that thrive indoors. Educating customers on plant care and offering a range of plants suited for different indoor environments can set a nursery apart. Marketing efforts could focus on social media, local garden shows, and collaborations with interior designers to reach a wider audience. Additionally, offering online sales and delivery services can expand the customer base beyond local geographic limits.

24. Toy Making (Wooden/Fabric): Creating toys from natural materials like wood or fabric serves a market of parents and educators looking for safe, sustainable, and educational play options for children. This business requires craftsmanship in designing and making durable and non-toxic toys. Success depends on adhering to safety standards and creating engaging, educational toys that appeal to children and their parents. Selling these toys through online platforms, local craft markets, or in specialty children’s stores can effectively reach the target audience. Additionally, engaging with the local community through workshops or toy-making classes can build brand loyalty and awareness.

25. Pet Care Services (Walking, Grooming): Providing pet care services such as walking, grooming, and sitting caters to pet owners who need help managing their pets’ daily needs due to busy schedules. This business demands reliability, a love for animals, and skills in handling different pet behaviors. Offering flexible scheduling, competitive pricing, and additional services like pet taxi or veterinary visit assistance can attract a broader client base. Marketing strategies should focus on building trust through client testimonials, creating an informative and user-friendly website, and engaging with pet owners through social media platforms and local pet events. Building partnerships with local veterinarians and pet stores can also provide referral opportunities and increase visibility.

If you are someone with a budget exceeding 1 lakh yet below 5 lakhs, the following are 25 lucrative business opportunities available for investment in India: 25 Business Ideas Under 5 Lakh Investment In India. 

This blog provides a glimpse into the exciting world of business ventures you can launch with a limited investment. Remember,  success requires thorough market research, a well-defined plan, and a commitment to continuous learning.  Most importantly, take the first step towards your entrepreneurial dream and watch your business idea blossom!

If you want a personal loan to start your dream business, simply apply through Credmudra!

Like what you read? Share your thoughts and business ideas in the comments below! We’d love to hear from you.

Also, Read: How to Get A Business Loan? Step-By-Step Guide For Budding Entrepreneurs

FAQs:

1. What Are the Upcoming Trends in Business Ideas?

The upcoming trends in business ideas can be:

• Online coaching and course offerings
• Podcasting
• Sale of custom-printed merchandise
• Influencer marketing, particularly on Instagram
• YouTube vlog creation
• Affiliate marketing programs

2. What is the Best Business for A Complete Beginner to Start?

For beginners, starting a service-based business is often the most straightforward and easy approach.

3. What Small Businesses Can be Initiated in India with A Budget of Rs. 10,000?

With an investment of Rs. 10,000, you can start small businesses in India such as:

• Custom product workshops
• Food trucks or stalls
• Homemade chocolate and baked goods production
• Coaching or tuition classes

Also, Read: How to Get a Business Loan on Low Credit Score?