India is experiencing tremendous growth in the number of startups. There are multiple reasons attached to this recent growth. Some surveys suggest it could be due to an increase in creativity. while others suggest that the youth are more inclined towards self-dependent jobs. And another possible reason could be the lack of job opportunities.
This could be one of the reasons, but the government’s support for start-up ideas is creating the right ecosystem for these market changes. Entrepreneurs benefit hugely from schemes like Startup India that provide lucrative offers like easier compliance, tax rebates, IPR fast-tracking, and much more.
Whatever your drive to start a business, here are someservice industry business ideasthat have the potential to shine in the service sector. However, these ideas arent elaborate, and you will have to do the math! But these are good enough ideas that are known to generate profitable business. So, lets get started!
Top 13 Service Industry Business Ideas in India
Lets go through the most popular service industry business ideas that are booming in India:
1. Event Management
If you are a bubbly person who loves to party and get along with people, this business can be very profitable for you. You will get to do what you love!
The best thing about starting an event management business is that the initial investment is negligible. Initially, you can choose not to invest in an office. You need good communication skills to grab clients and places to organise events. You must check out great venues, coordinate activities, attend sponsorship meetings, and always follow up with people to make the event right. Always do build good relationships around, and you are good to go!
Your work will speak for your business. So be diligent because word-of-mouth will be your biggest business booster. However, dont forget to publicise using social media.
2. Coaching Classes
If you are someone who has the capability to communicate the right concepts to students, you should open a coaching class of your own. This way, you do not require the degrees necessary to teach in an educational institute in India. Your drive to teach is enough! At inception, you can start taking classes from home. This will chuck off rent and travelling amount. Publicize using social media, flyers, and posters.
3. Travel Agency
This is one of the best business ideas for theservice industry.The travel industry is thriving these days as a result of people’s wanderlust. And during this time, people have been kept in houses for too long. So, this is the appropriate time to have your own travel agency. Its a low-investment business, and the return is huge. Dont forget to make a deal with a host agency; they will help you get an IATA number quickly.
4. Photography
Nowadays, people are very particular about seizing the moment and keeping it as a memory forever. And this is made possible using photographs. If you are someone who has that artistic angle and loves taking pictures, you should opt for photography services. With people capturing events like baby showers, pre-wedding shoots, proposal shoots, wedding shoots, and much more, you will surely excel in this business.
5. Personal Fitness Trainer
In this era of health-conscious people, if you have the appropriate knowledge about it, you can train people too. People nowadays prefer fitness activities such as yoga, gym, karate, aikido, Zumba, cross-fit, and many others. If you have a degree in diet consultation and all, it will be a huge help in your fitness training journey.
6. Jewelry
Artificial and customised jewellery is in huge demand. People prefer them over the real ones. If you have a fair idea about jewelry, this business will prosper. Find the best jewellery supplier and bargain with them to get the best prices. It will be good to give them a cut of the sales at inception. Later on, you can put your stuff on e-commerce sites.
7. Social media
Social media platforms like YouTube, Instagram, etc., have become a fantastic way to earn business. If you have the right kind of creativity, then post your pictures and videos. Pick a niche, and you can upload it accordingly. If people find your stuff useful, there are chances that you will grow steadily without making major financial investments. However, this service industry business idea requires daily dedication without losing interest!
8. Handmade Soaps
You will find many skin-conscious people around you who prefer to invest in organic skin and bath products. And such a crowd is the potential market for bio-manufactured soap. If you do it right, it is a low-cost business primarily centred at home. This business will require a lot of advertising and marketing. So, make genuine videos and take pictures of your beautiful soaps and upload them on social media.
9. Real Estate Agent
This business is all about great communication and networking abilities. You can earn a good commission if you help your clients find a good house to rent or buy. The initial investment could be only a few thousand dollars.
10. Salon
This business will require a good initial investment to get started. However, if you are knowledgeable about salon services, have sufficient funds, and personally know all of the work, this is one of the most profitable businesses to run.
11. Clothing
Buy branded or non-branded clothes in bulk from a wholesale market and sell them for a huge profit. This will necessitate some initial investment, but it is a worthwhile service industry business idea to pursue!
12. Landlords
If you have some property you are not using; it is better to rent it. Keep multiplying properties to earn huge returns.
13. Cafe
Indians run on caffeine. Tea or coffee businesses around some big tech park, organization, or college can turn out very profitable. Initially, you can start with a very small setup with minimum rent and, later on, with the profit, turn it into a cafe.
FAQs on Top Service Industry Business Ideas in India
Name some of the most profitable service industry businesses in India.
Some of the most profitable businesses in India are accounting services, real estate agents, car rentals, and landlords.
Is India providing a good market for startups?
With increasing interest in entrepreneurship, India has witnessed a lot of start-ups coming up. The Indian government has also taken steps in this regard through various schemes that aid in the development of start-ups and the economy. So, yes, India is a flourishing market for start-ups.
Are there businesses that can be started without any monetary investments?
Yes, some businesses require no investments. These are content writing, copywriting, affiliate marketing, renting assets, blogging, and launching an online course.
Name some businesses one can start alone.
Most low-to-zero-investment businesses are born alone. Some commonly chosen solopreneur business ideas are web design, freelance writing, data entry business, graphic design, tutoring, etc.
Name some of the safest business ideas.
Some of the safest business ideas include tutoring, starting a podcast, opening a YouTube channel, becoming a social media influencer, and selling unused assets.
Conclusion
It is never easy to start something of your own, especially when there is so much competition in the market. What sets you apart is a mindful choice of whichservice industry business ideawill work for you. Secondly, how diligently you work towards your goal. Lastly, it depends on how you find the perfect balance between managing your growth and your workload. Your growth should not be extremely slow or rapid, followed by a downfall. So, carefully build the road to your success. All the best!
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