Monday, 28 October 2013

Business Opportunities

List of Fields with Business Opportunity

Tourism is a booming industry in India. With the number of domestic and international tourists rising every year, this is one hot sector entrepreneurs must focus on. India with its diverse culture and rich heritage has a lot to offer to foreign tourists. Beaches, hill stations, heritage sites, wildlife and rural life, India has everything tourists are looking for.

But this sector is not well organised. India lacks trained professionals in the tourism and hospitality sectors. Any business in this sector will thrive in the long run as the demand contuse to grow every year
India is now a hot spot for automobiles and auto-components. A cost-effective hub for auto components sourcing for global auto makers, the automotive sector is potential sector for entrepreneurs. The automobile industry recorded a 26 per cent growth in domestic sales in 2009-10.

The strong sales have made India the second fastest growing market after China. India being one of the world's largest manufacturers of small cars with a strong engineering base and expertise, there are many segments that entrepreneurs can focus on in India's automobile and auto components sector.
India is famous for its textiles. Each state has its unique style in terms of apparels. India can grow as a preferred location for manufacturing textiles taking into account the huge demand for garments. Places like Tirupur and Ludhiana are now export hubs for textiles. A better understanding of the markets and customers' needs can boost growth in this sector
Social ventures
Many entrepreneurs are taking up social entrepreneurship. Helping the less privileged get into employment and make a viable business is quite a challenge. There are many who have succeeded in setting up social ventures. With a growing young population in rural areas who have the drive and enthusiasm to work, entrepreneurs can focus on this segment.
With one of the largest pool of software engineers, Indian entrepreneurs can set higher targets in hardware and software development.

The information technology enabled services have contributed substantially to the economy. With more companies outsourcing contracts to India, business to business solutions and services would be required. Entrepreneurs can cash in on the rise in demand for these services with innovative and cost effective solutions.
Engineering goods
India continues to be one of the fastest growing exporters of engineering goods, growing at a rate of 30.1 per cent.   Entrepreneurs must capitalise on the booming demand for products from the engineering industry.
India is well connected with the world. Hence, franchising with leading brands who wants to spread across the country could also offer ample opportunities for young entrepreneurs. With many small towns developing at a fast pace in India, the franchising model is bound to succeed.
Education and Training
There is a good demand for education and online tutorial services. With good facilities at competitive rates, India can attract more students from abroad. Unique teaching methods, educational portals and tools can be used effectively to make the sector useful and interesting
 Food Processing
India's mainstay is agriculture. Entrepreneurs can explore many options in the food grain cultivation and marketing segments. Inefficient management, lack of infrastructure, proper storage facilities leads to huge losses of food grains and fresh produce in India.

Entrepreneurs can add value with proper management and marketing initiatives. The processed food market opens a great potential for entrepreneurs be it fast food, packaged food or organic food. Fresh fruits and vegetables too have a good demand abroad. A good network of food processing units can help potential exporters build a good business.
 Corporate demands
There will be a good demand for formal attire with more companies opening their offices in India. People who can meet this demand in a cost effective way can make a good business. With corporate gifting getting very popular, this is also a unique business to explore.
 Ayurveda and traditional medicine
India is well known for its herbal and ayurvedic products. With increasing awareness about the ill-effects allopathic medicines, there will be a huge demand for cosmetics, natural medicines and remedies
Organic farming
Organic farming has been in India since a long time. The importance of organic farming will grow at a fast pace, especially with many foreigners preferring only organic products. Entrepreneurs can focus on business opportunities in this sector. There are many small-time farmers who have adopted organic farming but the demand is still unmet, offering many opportunities for those who can promote organic farming on a large scale.
The media industry has huge opportunities to offer young entrepreneurs. With the huge growth of this segment, any business in this field will help entrepreneurs reap huge benefits. Television, advertising, print and digital media have seen a boom in business.
Digitisation, regionalisation, competition, innovation, process, marketing and distribution will drive the growth of India's media and entertainment sector, according to Ficci.
With China invading the markets with cheap plastic goods and packaging materials, there is a good opportunity to develop good packaging materials to meet domestic and foreign demand. There is a huge demand various sectors like agriculture, automotive, consumer goods, healthcare infrastructure and packaging sectors for plastics.
India's floriculture segment is small and unorganized. There is a lot to be done in this lucrative sector.  This is a huge market to be tapped considering the rising demand for fresh flowers. More awareness and better farming and infrastructure can boost exports
Another evergreen industry is toy manufacturing. India has potential to manufacture cost effective and safe toys for the world. With Chinese toys being pulled up for toxins, the market for safe and good quality toys beckons Indian entrepreneurs.
 Healthcare sector
India's healthcare sector is dismal. The private sector can play a vital role in developing this sector. With medical tourism also gaining momentum, the sector can attract foreigners who are looking for cost effective treatment in countries like India.
After the software sector, biotechnology opens a huge potential. Entrepreneurs can look at a plethora of options with the application of biotechnology in agriculture, horticulture, sericulture, poultry, dairy and production of fruits and vegetables.
Energy solutions
In a power starved nation, the need to develop cost effective and power saving devices is gaining more significance. There is a huge demand for low-cost sustainable energy saving devices as well.  
Recycling business
E-waste will rise to alarming proportions in the developing world within a decade, with computer waste in India alone
Home-Based Business Ideas
With determination, focus and drive, you can build a profitable business right from your home. But it takes research, planning and a bit of forethought. Explore these 10 home-based business ideas, including the pros and cons, and a list of resources for each idea, to help you start exploring your options.
Blog Consulting
If you are a blogging expert and love to learn and explore all things related to blogging, a small business as a blog consultant could be a very lucrative business, allowing you to support all types of bloggers in getting their blogs up and running. Explore if this is the right business idea for you.
Computer Repair and Maintenance
If you have a technical background and an expert understanding of computers, a small business as a computer repair and maintenance service could be a great business idea for you.
Computer Training
Are you exceptionally savvy with computers and software, and want to help others boost their comfort level with computers? If so, a computer training business might be a great business idea for you.
Data Entry
There are a lot of legitimate opportunities available for data entry businesses. If you are an exceptional typist with an eye for detail, explore what it takes to start a data entry business.
Desktop Publishing
Desktop publishing involves using a computer and specific software to create visual business documents and marketing materials
eBay Consulting
An eBay consulting business may be the perfect business idea for an eBay pro who wants to help others use eBay effectively and generate a significant income
 Internet Research
Do you have a knack for quickly finding relevant information on the Internet? If so, an Internet research business may be the perfect business idea for you.
Video Production
Do you understand the technology behind video editing, and enjoy the process of taking raw video footage and creating a video that flows? A video production business may be a great small business idea for you.
Web Design
A web design business could be a fun and profitable way for you to follow your dream of being a small business owner, especially if you are a trained or self-taught web designer
Aquarium Maintenance
Fish are beautiful pets, but their aquariums have to be kept in top shape for both the beauty and health of the fish. Explore if an aquarium maintenance business is the right pet business for you.
Dog Training
Some dogs require a little more training than others, and you might be able to help. If you love dogs and have extensive experience with dog training, this business idea may be perfect for you.
Dog Treat Bakery
Many dog owners treat their dogs like members of their family and love to give them healthy, homemade treats. Learn what it takes to start a dog treat bakery small business.
Dog Waste Removal (Pooper Scooper)
It's not a pretty job, but dog waste removal is a growing business for many communities. If you're up for the challenge, you have the potential to build a successful business as a dog waste removal specialist.
Pet Couture
Pet owners love spoiling their pets, and many do so through the purchase of unique designer clothes, toys and accessories, also know as pet couture
Pet Grooming
Many pet owners simply don't have the time, ability or desire to groom their pets themselves. If you have the experience and desire to do it for them, you can create a lucrative business as a pet groomer.
Pet Sitting
If you love pets and taking care of them, then a small business as a pet sitter may be a great business idea for you. Explore the pros and cons of starting a pet sitting small business.
Medical transcription
Medical transcription involves taking taped reports from doctors and medical professionals and transferring them into written documents. Here are the pros and cons of starting a medical transcription business. 
1. It's a home-based business with good income potential.
2. You can have a flexible work schedule, and work as much as you want.
3. You have the potential to create long-term relationships with your clients.
4. You get to put your organizational, detail-oriented qualities to work for you every day.
5. The more experienced you become, the quicker you will be able work and the more you can make.
Project Management Small Business
A project manager can be an asset on every project that involves multiple people, whether it's a home renovation project, a small business collaboration or a personal project.

A good project manager is highly organized and has an exceptional ability to follow through
Consulting Business
There are many areas of business where aspiring business owners look for help, including business plan writing, marketing, communications and legal issues.

If you have expertise in an area related to some of the common small business startup challenges, and a desire to help your fellow business owners, a small business as a consultant could be the perfect business idea for you.
Bookkeeping Business
Many small business owners look to outsource managing their books, either because it's not something they enjoy, or it's something that have no desire to learn. This is why starting a business as a bookkeeper for other small business owners can be an excellent business idea.
Small business bookkeepers can provide a range of services from managing accounts receivable, accounts payable, reconciliation, payroll, reporting, income tax preparation and more.
In general, you need experience with bookkeeping and/or accounting on a professional level, plus experience with various accounting software, such as QuickBooks. It's also necessary to be extremely accurate, reliable and work with a high level of integrity when you're managing the books for another company.
Health tracking devices
From wireless headbands that track sleep patterns to wearable gadgets that track every move, an increasing number of options is available for people who want to track their own health-related behaviour. Recording and relaying detailed information that was previously only available through medical monitoring, most of these devices aren’t yet available worldwide, which creates a host of opportunities for distributors and localized versions.
Discreet rooftop solar panels and wind turbines
While most homeowners would in theory like to generate their own wind or solar power, many are put off not just by cost, but by the aesthetic impact of wind turbines and solar panels. Aiming to resolve that problem are smart engineers who are creating new options that blend in with their environment. Two promising examples: rooftop wind turbines that almost disappear along the apex of a sloping roof, and solar panels shaped like traditional clay roof tiles. Plenty of opportunities here over the next decade, both in distribution and in the development of similar products.
School for recruiters: Help to Hire

Investment - Rs 40-45 Lakh
Avg. Break even - 1-2 years
Toys on rent
Happy kids. Happier parents. These are the people you are going to deal with in the toy rental business everyday. Set up a website through which parents can access your repository of toys and subscribe to it as well. Facilitate delivery of the toys at the customers’ doorstep after confirming bookings on the website. This way the parents are able to provide the kids a wide variety of toys, some of which might be expensive, to the meet their child’s ever changing demands.
Investment - Rs 5-6 Lakh   
Avg. Break even - 1.5-2 years
Food Information and Logistics
There is a huge demand for web-available information for restaurants around several cities in the country. Become an end-to-end food service provider by starting your own website and acquiring a logistics team. You would basically be catering to all the customer needs: detailed information of restaurants, food ratings and reviews, bookings and reservations, buffet reviews and most importantly food delivery.
Cake decorating business
In India, there are hundreds of cake shops those make and sell cakes. Here, the business idea is different from them. Cake decorating business owner is a person who himself is an expert in cake decorating and may run his business solely or in collaboration with cake shops. In the latter case, revenue generated can get shared between the cake shop owner and cake decorating business owner.  Expertise requires knowing all the nitty-gritties of cake making and decorating. This expertise can be gathered from a professional course or by working with noted chefs.
Investment - Rs 5-6 Lakh
Avg. Break even - 3 years
A library with home-delivery
Start an online book rental library that delivers books to the customers’ doorstep. It is convenient way for book lovers to get a hand on their favorite books, some of which might be expensive, during these rushed times and schedules, by just ordering from the website and returning it back after finishing it. 
Software skills to setup web applications to support library
Knowledge of books/ people who will help you choose books for the library

Investment - Rs 10 Lakh
Avg. Break even - 1 year
Landscape solutions
As a landscape irrigation business owner, you irrigate a certain area of land within the stipulated time period according to your client’s horticulture plan.  Technical knowledge of designing and calculating water flow, water friction rate, pipe line size, pump capacity, route of water line, location of control gate valves, selection of irrigation devices like sprinklers, micro sprinklers, drip lines and dripper nozzles will help.
Investment - Rs 6-7 Lakh
Avg. Break even- 3-12 months
Online retail store for Eco-friendly products
An online retail store of Eco-friendly products is a viable business option for people who want to pay back to the society and earn for their livelihood. You can source the merchandise from rural areas or can tie up with several NGO’s to have your product line.   A person with sound internet marketing, web designing skill can start this venture or else a competent team of web marketing professionals, designers may start the venture.
Investment- Rs 6-7 Lakh
Avg. Break even- 3-5 years
One Stop Bonsai Business
There is a huge market for bonsai today. There is a constraint in space for people who want to set up their own garden at home. With the development of bonsai, they are now able to buy a variety of such small plants which they can easily maintain on their rooftop gardens or inside their houses. Hence, you can start your own bonsai manufacturing and gifting set up.
The revenue model depends on the way one markets it. Now a days, florists can form a significant part of your customer base, as they include bonsai products in their gifting service.Skills:
- Patience and passion in gardening
- Creativity
- Stock of old bonsai trees to sell
- Knowledge of bonsai in case of entirely new business
Investment - Rs 1.5-2 Lakh
Avg. Break even - 1 year
Online Art Gallery
With the upswing in the art market in India since the slowdown, online art galleries are picking up. Signalling the space where entrepreneurs can jump in and reap benefits.
Online galleries don’t require extensive expenditure and are easier to maintain. The other incentive being the connoisseur in you will never be away from stimulating colourful agents. Additionally, it can also provide many apsipiring artistes with a platform to sell their work.Investment - Rs 30-40 Lakh
Avg. Break even - 3 months - 1 year
Employability Training
More than 75 percent of Indian graduates are unemployable because their education is theoretical. You can offer young graduates, vocational training so that they start being efficient in a job from Day One. Training can include various vocations, soft skills, industry awareness, technical courses with certificates, etc. through means including online Learning Management Systems (LMS).
If you want to or can help the youth gain skills and be employable immediately as they graduate, this is for you. You need industry experience, which you can translate as a trainer into concrete learning.
Investment - Rs 20-30 Lakh
Avg. Break even - 1 year

Avg. Break even - 1 year
Vending Machines
A business that allows you to deal with anything from pre-packed beverages, snacks, newspapers to mobile talk-time recharges, tickets etc. Vending machines are definitely one of the easiest ways to make money where all the owner has to do is choose the right location. Economic growth, development of cities, lifestyle and eating & drinking habits have opened a huge market for these machines caters to peoples’ needs directly.
Mostly the revenue comes from sale of the products in the machine. Advertising also has some scope in the setting up of the machine. It can be done by displaying products in the front-glass machines or by putting ads on the machines themselves.
“Approximately 12-15% of the potential market for vending machines has only been tapped till now in India. So, a huge market is still untapped,”
Paragliding School
It is true that you can set up a paragliding school with a budget of Rs 50 lakh. Unlike the common belief, that such business requires huge investments, it can be started with a moderate investment but with high commitment. Passion is the most important ingredient to achieve success in this business.
A paragliding school can offer a slew of packages and services like paragliding courses, rides, tandem paragliding, weekend flying trips, paragliding holiday packages, corporate offsite and outbound getaways, etc.
Investment - Rs 40-50 Lakh (can be lesser as well)
Avg. Break even - 5-6 years
Cakes for Allergies and Restrictions
In India the fashion of customised cakes for allergies and restrictions is fast catching up as in the West where it is an established practice. With the constant surge in the number of health conscious people, an immense opportunity has opened up in this space.
Investment- Rs 50 Thousand
Avg. Break even - 6 months
Online Gaming Business
The online gaming business seems to be the flavour of the era. Individuals love to indulge in gaming activities after the day's work and have fun. The online gaming business owner will have a website to launch his own gaming software. Otherwise, one just can make the gaming software and sell them to distributors. In the both the cases, the profit potential is huge.
Investment - Rs 50 Lakh
Avg. Break even - 3-4 years
Foreign Language School
You teach the popular foreign languages like Spanish, German, French, Arabic, Chinese, Japanese, Korean and Italian to students by setting up an institute, where there is focus on practical aspects of language to ensure the job-readiness of the students after they pass out. A lot of activities like reading, writing, listening, and speaking drills; role plays; karaoke singing; festival celebrations to give a more cultural feel; word games and dialogue writing etc. are involved.
Students pay you on per language course basis, wherein a course could be of 3/ 6/ 12 months, depending on what level is it teaching (there are approx 6 levels). There is a premium attached as good trainers don’t come easy and cheap, and besides the job opportunities for students after the course are well-paying.
Investment - Rs 1-10 Lakh
Avg. Break even - 1 year
Western Musical Instruments
Lucrative opportunities in manufacturing, exporting and importing western musical instruments beckon entrepreneurs in this fast-growing segment. The advent of Fusion groups, rock bands, corporate bands, and mall culture have all pepped up the popularity of western musical instruments especially in metros and big cities, majority of them being children and college goers.
Medical Tourism Guide Agency
The flourishing medical tourism in India drives the potential of embarking into a travel company that provides complete package including healthcare arrangements, stays in hotels, after-treatment stay etc to foreign patients. These agencies will act as a facilitator between patients and various hospitals, hotels and tour companies. Besides, they also provide treatment advisory services to medical tourists. The patients will choose different types of treatments, hospitals, packages and a convalescent holiday after their treatment.
Can tie up with some travel agents

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