If you have been looking for a profitable and promising business venture but don’t know where to start, you have come to the right place. In this blog, we will explore a diverse range of business ideas that cater to different industries and markets. Whether you’re a first-time entrepreneur or a seasoned business owner looking to diversify your portfolio, our top 10 business ideas have something for everyone. So, without further ado, let’s dive into the exciting world of entrepreneurship and explore some of Top 10s Only’s Best Business Ideas That You Can Start With An Investment Of 20 Lakhs To 30 Lakhs.
List Of Top 10 Profitable Business Ideas With 20 Lakhs To 30 Lakhs Investment
Gone are the days when starting a business required an exorbitant investment in crores of rupees. Contrary to popular belief, you can embark on a successful entrepreneurial journey with a modest capital of 20 to 30 lakhs. All it takes is a unique business idea, a well-crafted plan, strategic execution, and effective marketing. Within a few years, your venture can start yielding profits, proving that you don’t need a massive investment to achieve financial success.
The desire to become an entrepreneur is on the rise, driven by the freedom of being one’s own boss and the uncertainties of traditional employment. Consequently, the startup landscape has witnessed a surge in recent years. While success is never guaranteed, numerous innovative ideas have emerged, capturing the spotlight. Additionally, the Indian Government’s Make In India initiative has propelled small and medium enterprises (SMEs), which can be initiated with relatively lower capital. These businesses not only generate employment opportunities but also foster entrepreneurial activities in both urban and rural areas.
In this thriving ecosystem, your aspirations of achieving millionaire status can turn into reality, provided you choose the right business ideas. Are you unsure about which ideas top the charts? Look no further, as we present to you the top 10 business ideas with an investment capital ranging from 20 lakhs to 30 lakhs. Get ready to explore lucrative opportunities that can set you on the path to entrepreneurial success.
1. Beauty Salon
Beauty parlors or salons are a common sight in India. But despite that, what makes it a great business idea is that, as per a lifestyle survey, there is an increase in the beauty salon business, and the Indian beauty business is likely to grow twice as fast as the European and US markets in the coming few years. This comes as no surprise as India is a country with many festivals and events to celebrate throughout the year and both men and women strive to look their best. So beauty salons are a promising business with high potential. Below are more details regarding this business opportunity.
Capital Allocations
There is a significant initial cost involved in setting up a beauty salon. So, you should have a solid business plan in place, along with the services you plan to offer. It can also be risky to spend too much upfront as a startup. Include the overall expenses, which include beauty supplies, rent, salary, beauty equipment, etc. Once you have the figures in hand, you can choose to raise the money through personal funds, angel investors, or institutional loans.
Equipment Required
There are many types of equipment needed for running a beauty salon. It includes:
- Facial bed
- Tanning bed
- Wash bows
- Styling trolleys
- Smocks
- Nail trimmers
- Gloves
- Hair dryers
The equipment needed depends on the services provided. Right from professional massage hair styling spas, pedicures, and manicures, to bridal makeup and hair colour, there is a huge list. So depending on the services that you offer, include beauty products to the list.
Manpower
The manpower you need to hire depends on the services you offer in the beauty salon. But no matter the service, it is essential to hire trained and educated workers who have a certificate from a beauty school. But note that these staff are more expensive than others.
Choosing A location
It is essential to find a proper location for the beauty parlour. If you already have a place to rent, you can use that for the salon. But if you don’t have one, then you have to pay rent. Finding a proper location is essential as it has to be convenient for the customers. Look to have a location that is easily accessible and visible to people via car or public transport. Ensure there is free parking so that it appeals to clients so that they don’t have to worry about parking.
Registration And Licences
There are many licenses and registrations that are necessary to run a beauty salon business.
- PAN registration
- MSME Registration
- Shops and Establishment License
- GST Registration
- Trade License
- Trademark registration
- Professional Tax license
- Other licenses, like fire safety certificates, etc., also need to be applied.
Target Customers
The target clientele can be a varied age group. It can be from teenagers to the elderly and could also cater to either single or both genders.
Setting up a beauty salon business is a long-term strategy. Your focus should be on various marketing techniques, research on competitors, and focus of analysing manpower needs, overall expenses, and investment methods to formulate a plan for your business.
2. Cafe Or Bistro
Whether it involves closing a business deal or gathering with friends at college, the presence of a comforting, hot cup of coffee is a cherished tradition. This deep love for coffee has transformed cafes and bistros into thriving enterprises throughout India. Witnessing the triumph of such ventures has ignited a desire within many individuals to embark on their own cafe business ventures. If you are a foodie, running a cafe that serves hot/cold beverages, snacks, and desserts can be a highly satisfying and profitable venture. Scroll below to learn more about setting up this business.
Capital Allocations
It is essential to start the capital allocation based on the theme you have for the cafe or bistro. The breakup of the expenses includes buying or renting a place. Depending on the theme, there will be expenses related to interior design, furniture, legal legislation, salary and wages, along with marketing and branding.
Equipment Required
The equipment required depends on the menu. Also, you need to invest in cool furniture, which includes couches, loungers, chairs, and tables. The other essential equipment needed are:
- Refrigerator
- Coffee machine
- Beverage dispenser
- Electric deep fryer
- Meat mincer machine
- Commercial blenders
- Crockery
- Packaging supplies
- Ovens, toasters, and grills
- Display case
Manpower
To run a coffee shop or a barista, you will have to hire staff that includes bakers, cooks, baristas, cashiers, managers, and cleaners, among others. Among them, the baristas are the cornerstone of your successful business. So the person you hire has the most bearing. But hiring more baristas than required bleeds money. Choose the number of baristas based on the hours of operation, sales, and size of the business.
Location
Depending on your financial situation and goals, you have the option to lease, rent, or buy a retail space. While a shopping mall is incredibly convenient, it can be quite expensive. Supermarkets and other high-traffic locations may offer more competitive rental prices, but they might not be suitable for a startup with limited capital. Commercial properties, on the other hand, can be a great choice for small coffee shops. They often provide more affordable leasing costs and offer flexibility in determining trading hours, as well as the desired exposure for your business.
Registration And Licenses
There are some mandatory licenses and registrations that you need to have before you start any type of business. For a cafe/bistro, the following are the necessary permits.
- FSSAI license (Food Safety and Standards Authority of India)
- Trade license
- NOC from the fire department
- Eating place license
- Permit to use music
- Pollution license
- GST registration
- Registration of Trademarks
- Licensing for shops and establishments
- Environmental clearance certificate
Target Customers
The target customers are varied, and it could be comprised mostly of working people. Typically, these places are frequented by both males and females with an average to high income. People who work for long hours and those who don’t have enough time to prepare food are likely target audiences. Usually, single adults or adults married without children are likely to eat out at such places, especially during working hours. However, such places could also see families with kids as potential customers during weekends and public holidays.
Starting a cafe or a bistro can be quite challenging as there are many rules in place for food enterprises. Also, ensure you have the necessary permits and licenses to operate the business and comply with all the tax and other compliance standards to run the business smoothly.
3. Sports Equipment Store
Anyone who engages in an active sport needs some sort of sports equipment or other. From the gully cricket groups to school teams to weekend players, there is great demand for sports equipment. Sporting equipment stores have the necessary items for sports participants, whether it is for a casual game or for a professional. Sporting goods is a big market and is likely to grow in the future. But if plan to start this business, there is more to just buying and selling goods. There is a need for doing competitor research, targeting a niche, and also getting the necessary equipment to run a store profitably.
Capital Allocations
The main question people ask when starting a business is the cost involved. The initial cost of a sports equipment store involves renting or buying a retail space. Then there are other costs like the purchase of hardware, software, initial inventory, license fees, business registry, and insurance. Apart from the initial cost, there are other ongoing expenses like employee wages, monthly utilities, rent, inventory, etc. Compare the amount needed with the existing funds to determine how much to borrow. Also, have a solid business plan to get avail a credit line from a bank or financial institution if you don’t have any personal funds.
Equiments required
Most of the sports shops sell all types of indoor and outdoor sports gear. You can also stick to this or choose a particular sport that is popular in your locality and sell the equipment based on that. Niche marketing is a great choice as it can help create a specific customer base. It also allows you to focus on reducing initial investment in inventories. Do thorough research before buying the equipment. Consider selling new as well as old equipment to have a wide customer base.
Manpower
Depending on the size of the store, you will have to decide on the number of employees to hire. While you can do a one-man show, it is better to have a reliable helper with expertise in this domain, even if you start with a small store, so that you can attend to customers effectively. Once the business picks up, you can hire a cashier and more attendants.
Registration And Licenses
- Below are the general licensing and registration requirements needed.
- Business name registration
- General business license or permit
- GST Registration
- Import-Export Code
- Trade License
- Licensing for shops and establishments
Location
One can either rent a place or buy retail space to start this business. But the shop should have enough space to display the inventory. The ideal location for this kind of business is a marketplace, preferably near schools, colleges, or sports academies. You can also rent a shop in a commercial place like a shopping mall or transit places like railway stations, metro stations, etc.
Target Customers
The target customers are typically high school teams, youth sports teams, and even coaches. There are many casual players and parents of young children who are willing to pay for good-quality products.
As the demand for sports equipment is high, starting this business can give you good profits. But you should have a solid business strategy and planning to make profits.
4. Optical Shop Business
The eyeglasses you choose to wear convey a wealth of information about your personality. They not only reflect your overall style and professionalism, but also provide insights into the severity of your eyesight. Consequently, people attach great importance to the type of eyeglasses they wear. Capitalizing on these sentiments, establishing an optical shop emerges as one of the most promising business ideas. With a well-established market, an optical store offers a relatively low-risk venture. Continue reading to explore further details about this lucrative business opportunity.
Capital Allocations
The initial cost of your optical shop depends on the rental rates, the type of eyeglasses you plan to offer, as well as the number of people you employ. One of the best things about this business is that the wholesale prices are not too high as they sell in bulk. Apart from the rent and the inventory, the startup costs involve proper interior design with ample lighting, business management software purchase, and expenses of buying equipment that can be leased or rented. The ongoing expenses are payroll, rent, and utility bills.
Equipment Required
Below are the equipment required for running an optical store business. It includes:
- Auto refractometer
- Keratometer
- Tonometer
- Slit lamp
- Trial lens set
- Auto lens meter
- Auto lens edger
- Auto phoropter
- Chart projector
- Visual chart light box
- Ophthalmic unit
- Glasses tool
Manpower Required
Depending on the size of the store you plan to open, you should plan to hire manpower. The staff that you hire should have expertise in this domain and also have vocational training at the least. If you plan to conduct eye testing, then there is a need for a certified ophthalmologist.
Location
While it is tempting to opt for a location where the rent is nominal, that may not work well for this business. An ideal location for an optical store is near a reputed eyecare clinic or hospital, as patients would require prescription lenses/glasses. Even high-traffic areas that are close to your competitors is a good location. Choose places that are close to places like coffee shops, drug stores, etc., as it means you are near your customers. Also, ensure that the store is spotlessly clean and in good surroundings.
Registration and Licenses
Like all other businesses, there are some registrations and licenses needed for starting an optical store business. It includes:
- Business name registration
- MSME certification
- Trade license
- GST Registration
- Import-Export Code
Target Customers
A study conducted shows that a major portion of the adult population needs vision correction of some kind or other. There is also a rise in the number of kids and teenagers needing corrective glasses. These form a large client base for your optical store. Additionally, eyewear stores have stylish sunglasses that complement people’s wardrobes. So there is no dearth of customers for a high-quality optical store.
An optical store is a profitable business, you can further maximize profits by selling products online to reach a wider audience. You can also work with optical dispensaries or partner with vendors for more style and flexibility.
5. Mini Golf
Golf long was considered a game for the elite. But with a lot of Indians travelling abroad, the game has lost its elite tag and is rapidly gaining ground as a kid-friendly entertainment activity that families can indulge in. So it is slowly becoming popular as a lucrative business idea. Here are a few things to note before you plan on starting this business.
Capital Allocations
The mini-golf is a popular activity in the US and many European countries and the same has caught up in India too. But there is a need for sufficient investment to start this business. You may have to hire a turnkey company to design and build the mini-golf course. Then there are costs involved for leasing the land and also hiring employees. Ongoing costs for running the mini-golf course include rent, salary for staff, maintaining equipment, utility bills and such.
Equipment Required
Below are the equipment required for running a mini-golf business. It includes:
- Office Supplies
- Computer
- Ticket machines
- Golf clubs and balls
- Card reading machine
- Night lights
- Music and announcement system
Manpower Required
A mini-golf course needs a few employees to handle the customers at the ticket window as well as offer help on the golf course. A manager with effective communication skills is essential to handle customer queries and also to manage the crowd. Then there is a need for staff to assist with golf equipment, receptionists and janitors for keeping the course clean and tidy.
Location
While the mini-golf can be played indoors or outdoors, it is best to have an indoor golf course as that means you are not at the mercy of the weather. Remember that this is a family entertainment place so you should choose the perfect location. Make sure that there is sufficient parking. Do not compromise on the location as it has an impact on the business profitability.
Registration and Licenses
There are many permits and licenses that you will need to get to run a mini-golf course. The requirements vary from state to state. Some of the common legal requirements are:
- Occupancy certificate
- Business name registration
- GST Certificate
- GST Registration
- Trade Licence
- Insurance
- NOC from the fire department
- Permit for music
Target Customers
The major clientele are families and teenagers. Ensure that they have a good experience as they are repeat customers who keep coming back or spreading the word to friends.
A mini-golf course business is a profitable business that attracts people of all age groups. They do not need any fancy equipment that needs a lot of maintenance and gives a high return on investment. Additionally, indoor golf courses can be used all year round.
6. Soccer Turf
Cricket may be a religion in India but football too enjoys great patronage in this country. It has become a popular sport for kids and adults alike and there is a need for high-quality football turfs. Artificial turfs are in great demand as they can be used the entire year. So launching a business of renting football turfs is a profitable business irrespective of the city you are from. More details on this business opportunity are as below.
Capital Allocations
One of the major advantages of this business is that there is no working capital like raw materials needed for this idea. The investors need a fixed capital which can be recovered in a couple of years. However, the investment needed depends on whether it is a 5-a-side or a 7-a-side futsal arena. The ongoing costs for this business include staff salary, utility bills and monthly rent
Equipment Required
There is not much equipment needed for running a football turf. The few things needed are:
- Good lighting system
- Football net
- Football supplies like football, studs, socks, etc
- Scheduling software
- Turf cutters
- Compactors and graders
- Leaf blowers
- Mowers and grooming machines
Manpower Required
The manpower required for running a football turf is very few. It can be run by having 1 or 2 employees. There is a need to hire staff that have the skill to maintain and manage the turf and also manage the booking schedule.
Location
The ideal location for a football turf is close to schools, colleges or in residential areas where teenagers can easily reach the location. While choosing the location ensure it is easily accessible and there are ample public transport options.
Registration and Licenses
The following are the permits and licenses needed to launch a football turf in India. The below should be obtained from local authorities:
- Business registration
- GST registration
- Trade License
- Fire safety certificate
- Environmental clearance certificate
- Licensing for shops and establishments
Target Customers
The target customers are teenagers and football enthusiasts of all ages. These turfs can also be lent for football tournaments conducted by sports academies, schools, or other organizations.
Starting this business in India needs different amounts of money depending on the size, type of grass, and location. Choose based on your capital and earn cool profit margins.
7. Fabric Bags Manufacturing
There is no better way to carry things than using a bag. With plastic bags being banned and people becoming more environment friendly, fabric bags have become popular and everyone uses these bags. So why not use this as a business opportunity? You can manufacture a plethora of bags using different materials and sizes and design them as creatively as you want. Here are some of the important things to know about this great business idea.
Capital Allocations
The fabric manufacturing business like other businesses needs two types of investment variable and fixed. The fixed investment is the cost of acquiring the equipment, rent and other tangible assets. The variable or ongoing costs include the salary of the staff, warehouse expenses, utility bills, etc. The scale of the business dictates the investment cost at the launch.
Equipment Required
The fabric bags can be manufactured using various materials, but jute and cotton are the most popular choices. The equipment needed for making these bags are:
- Printing and working table
- Lamination machine
- Screen-printing machine
- Dye, stirrer, brushes, applicators, etc
- Sewing machines
- Cutting machines
- Steamer
- Lockstitch machines
- Cotton threads and spools
- Pattern sheets
- Side-seal machine
- Stools, tables and chairs
Manpower Required
If you invest in efficient bag-making machines the manpower requirement reduces. It can be managed with a maximum of two skilled workers who can operate the machines. Then there is a need for a couple of labourers to do the side work of feeding raw materials and removing the finished products.
Location
This plays an important role in this business idea. You should look for land that is in a semi-urban area to set up a production unit that produces high-quality fabric bags. Choosing a semi-urban area means that the labour costs are cost-effective, get quality raw materials and enjoy the benefits of both urban and rural areas.
Registration and Licenses
There are many registration and license requirements needed for a fabric manufacturing business. This has to be done before the launch. Here are some of them:
- Trade license
- Business registration
- GST registration
- ISO certification
- SSI unit registration (Small scale industries) for land eligibility
- Import-Export Code Registration
Target Customers
This business attracts a wide range of customers which includes shoppers, office goers as well as corporate companies.
With fabric bags a great alternative to plastic bags, there is a great demand for them. This has promoted many manufacturers to jump into the fray. But starting a fabric manufacturing business is not just investing in fancy machines there are many factors that needed to be taken into account to run the business and make profits.
8. Furniture Store
The Indian standard of living has improved like never before and consumerism is at a peak and people are looking to buy more things. They are keen on dressing up well as well as decorating the interiors of the house as it reflects their personality. Furniture plays an important role in making the home impressive and people are willing to spend more on the aesthetics. If you want to have the creativity and passion you can encash people’s need for a better lifestyle by starting a furniture store.
Capital Allocations
To start a furniture business with a decent warehouse capacity you will need an investment of 25 to 30 lakhs. That is for startup costs of renting a storefront, and a warehouse, expenses of shop interior design, shop security deposits, registration and marketing fee are more. You may also have to purchase a vehicle for delivery which is an option. The ongoing costs include employee salaries, shop rent, utility bills, and more.
Equipment Required
The equipment needed depends on whether you plan to manufacture your furniture or source it from suppliers. If you are only planning on starting a furniture store, then not many types of equipment are needed. You will only have to decide on the type of furniture you plan to sell.
Manpower Required
It is important to hire a crew that is competent to help run and grow your business. The staff that you hire should have the necessary expertise in this domain to answer queries as well as guide customers to make the right choice. Apart from that you will need a cashier and a front office executive to handle calls. The number of employees you need to hire depends on the size of the store.
Location
Choosing an ideal location is an important factor in every business. The preferred location for a furniture store is neighbourhoods where new complexes, houses or apartments are coming up. Having a store in residential areas where the middle to upper middle class reside is the best location. Apart from the storefront, you will also need a warehouse to store inventory and depending on your investment can choose a nearby area or a place which is budget-friendly.
Registration and Licenses
It is important to have the required licenses and permits to conduct smooth operations. Some of the basic requirements include:
- Business Registration
- MSME registration
- Trade License
- NOCs from various municipal corporations
- Shop and establishment registration
Target Customers
There is a need for great research to reach out to your target customers. It can be clients who change furniture as per home interior trends which is your base audience. Your clients can also be first-time buyers or those who are investing in furniture as a replacement for their old ones. Everybody needs to buy furniture so it is essential to have a welcoming environment so that it appeals to everyone.
The Indian furniture business is huge as it is a necessity for offices, commercial spaces and homes. So it is one of the most lucrative businesses to start. But decide on the niche as there are various types of furniture from decorative to steel to plastic.
9. Car Rental
People like to travel in comfort and in style whether they live in large cities or small towns. They no longer want to travel in jam-packed buses or travel in unsafe autos. Although a large population owns cars, there is a growing demand for car rentals to avoid driving in traffic or to travel in luxury even when they are away from their home. While Ola and Uber may be household names, local car rentals are a flourishing business that can be started with a nominal investment. Read below to know more:
Capital Allocations
A car rental agency leases cars for a short or a long period of time. The capital allocations for running this business majorly involve buying a fleet of vehicles. Depending on the market you plan to target it can be a small to a luxury sedan. The other startup costs involve, setting up security for the cars, employee wages, automobile insurance, car rental management software and marketing efforts. The ongoing costs include insurance renewal (annually), parking space, car maintenance costs, utility bills, etc.
Equipment Required
The major equipment needed to run this business is cars. Other than that you will need are:
- Computer
- Printer
- Purchase or lease of car rental software
- CCTV
- Car Security Systems
Manpower Required
Depending on the model of your business you will need drivers, mechanics and a manager to handle the bookings. Hire drivers who have a good track record so that it is safe for the customers as well as your company. You can have an in-house mechanic for maintenance and service or tie up with a local mechanic to do the job as and when required. A receptionist or a front-office assistant can help with the daily affairs.
Location
To set up a company, choose a proper location. Ideal places for this business are commercial spaces near bus or railway stations, airports or hotels. Ensure that there is enough parking space when you choose a location.
Registration and Licenses
It is important to have the required licenses and permits to conduct smooth operations. Some of the basic requirements include
- Business Registration
- MSME registration
- Trade License
- Insurance and workers’ compensation
- GST registration
- Shop and establishment registration
Target Customers
The target customer for this business is wide and varied and is from all age groups over 18 years of age. It can be business executives, passengers, visitors to the city, people with car breakdowns, etc. It can also be corporations, people celebrating anniversaries, weddings and other functions.
Rising disposable income and the advent of technology have made car rentals an essential part of the urban lifestyle. People are opting to travel within and outside using rental cars and hence is a profitable business. But for that to happen proper research, an efficient business plan and knowledge of the market are important.
Plastic Items Manufacturing
Like it or not we are all dependent on plastic and you will find one or the other thing made of plastic around you. From kid’s toys to mobile covers to household items plastic items are found in everything and that is a reflection of its versatility and utility. The material is cost-effective and you can make any imaginable item from it and thus is highly useful. This is one of those sectors which is never saturated and hence setting up a plastic manufacturing business makes great sense. Here are a few things that can help you with starting this business.
Capital Allocations
Plastic products are always in demand and there are many options for manufacturing various types of products. The startup costs of setting up a manufacturing plant for plastic products involve procurement of a manufacturing plant (rent, lease or purchase), purchase of equipment, raw materials, employee wages, and a warehouse to stock products. The ongoing costs include staff salary, procuring raw materials, rent, utility bills, etc. The capital allocations depend on the scope and the niche of the product.
Equipment Required
The equipment needed depends on the manufacturing process adopted. But in general, you may need the following:
- Injection Molders
- Extrusion Molders
- Vacuum Forming
- Granulators and Shredders
- Rotational moulding
- Routers
- Star wheels
- Machine guards
- Chain guides
- Bearings
- Brushes
- Pliable tubes
Manpower Required
Depending on the scope and size of the manufacturing plant you will need to hire skilled as well as unskilled labourers. The skilled staff should have the knowledge and the expertise to use the machine, there should be a designer and an engineer to come up with the technical aspects, and a few unskilled labourers to feed the raw materials and also remove the finished products.
Location
A plastic manufacturing plant cannot be set up wherever you want. These are hazardous materials and hence the plant has to be away from the city or on the outskirts where there is less population. The facility should have enough water and electricity supply so that production runs smoothly. Also, the distance between the warehouse and the plant should be less to reduce transportation costs.
Registration and Licenses
There are many registration and license requirements needed for a plastic manufacturing business. This has to be done before the launch. Here are some of them:
- Trade license
- Business registration
- GST registration
- ISO certification
- SSI unit registration (Small scale industries) for land eligibility
- Import-Export Code Registration
- NOCs from various municipal corporations
- Pollution License
- Environmental Clearance Certificate
Target Customers
The target customers can be wide and can include other businesses including supply-chain manufacturers, retailers, wholesalers, business end-users like restaurants, and more.
To run a plastic plant manufacturing business the right knowledge is needed without which it becomes difficult to manage it. It is important that you spend time knowing it and also decide on the niche and draw a plan based on that to turn it into a successful business.
Start your entreprenuership journey with these trailblazing business ideas with investment cost under 30 lakh rupees
India is a huge economy with a growing population and hence there is an exponential rise in consumerism which is only expected to grow more. By 2030, India is estimated to have a $6 trillion consumer market third highest behind China and the US. So that means small and medium unique business ideas have a great opportunity to capitalize on. Choose any of the above ideas from the list based on your preferences, resources and interest and be a part of the India shining story.