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Sunday, April 28, 2019

Most profitable businesses in India

Start the most profitable businesses in India and Change your life
profitable businesses in India
Small Business
Most of us end up dedicating our own life to work for a Job. We become like everyone else: surrounded by bills, kids, and responsibilities to care about.
Life becomes expensive, even before they get successful enough to pay for it. In the future, they probably have to change their jobs suddenly, and until the next generation, this will become a vicious circle for most people. Most of the people live their lives working for other persons. Of course, some of them also become successful and happy with their jobs.
But sadly, most of them finally realize that this path won’t make them happy. It either won’t give enough freedom and wealth.
And those who find them unsatisfied, not successful, feel that they have no direction or just stand in one place in their lives. Some maybe have failed also. But don’t worry about that. Failure is our best teacher. Hoping is the process.
So what can you do to be successful and satisfied with life? What can you do, if you are not satisfied with the job-life?
You can take another path, what few are willing and dare to take – You can become an entrepreneur.

Start your own business, but start a profitable business in India!
So, why not start your own business and become successful through entrepreneurship?
Your time is limited, don’t waste it working for another person’s dreams!
As we come close to the end of the year, many of us start to set new targets and goals.
So, we encourage you to set a new target what can change your life– Starting a business of your own. Export-Import is created to help and support new and current entrepreneurs to start and grow their export-import business.
Today we give some ideas about profitable businesses in India which can be started by everyone: students, workers, housewife, retired people, entrepreneurs, investors or anyone who want to become a business owner.
We will look, what are the best businesses in India. We will explain some of the most profitable businesses in India nowadays.

1. Website designing

Website design is very necessary and important in modern life.
The website is a specific address of a company on the internet. It contains information about the business activities, products that companies want to export or sells to the local customers. Makes them understand and memorize things way better.
Especially it supports well for individual online sellers and international export-import companies. No design makes business unclear, impossible for customers to find products and read. Bad design can make the users never want to come back.
With a good company website is easy to attract more potential customers. This is one of the reasons why large or small businesses should have a website of their own. In 2018, India has more than 400 million people use the internet- accounting for about 30% of the population – a very potential market for website design business.
You as a website designer can offer your services to the local companies in your country and you can also sell your services to foreign companies. So this is definitely a great and profitable business in India nowadays. The costs to run this business can be low, but you need to have designing skills.

Tip to become successful

·         Create competitive advantage: Put a lot of effort for your own website first, to stand out among many competitors websites. in addition to beautiful design, rich content, variety items, website designer should use online marketing tools such as SEO, Google Adds word …

2. Selling Products Online

The Internet is an environment where people can talk, exchange data, and especially purchase goods without having to go to the store directly Especially it supports very well the small sellers because using the internet, you do not need to have real premises or shops.
You can set up an e-shop and start selling your goods online in your living room. You can focus on local customers in India only, or you can target the overseas online shoppers- then you are already in the international export business.
Social networking is an effective selling solution, bringing high sales to many individuals and businesses.  Plus it is a tool that people who have very few capitals, can afford to reach to the masses.
We can sell directly through social networks or link to our website to increase the number of visits, direct customers to the purchase through the website.
Unlike traditional sales, online sales can take place both day and night and fully meet the needs of both buyers and sellers. We will be proactive in business, by simply posting product information along with contacts so we can start offering products easily.
There are many online sales channels to choose from, such as Youtube, Facebook, Instagram or our own website. Also, it is possible to open the online store in a ready-made online marketplace, like Amazon, eBay, Aliexpress and others. Creating an online sales channel or a fan page on popular social networks is more common and easier than ever.

Tips before starting selling online:

·         Build your fully functional online store of your own or in some established platform
·         Create online sales channels and fan pages on popular social networks
·         Select suppliers of the products with certifications and high quality
·         Attractive titles for products to arouse customer interest
·         Describe the benefits of the product, branding
·         Build your credibility as a solver of the problem
·         Add the testimonials of the users already used your product
·         Organize the delivery system
And yes, selling products online is definitely one the most profitable business in India now and in the near future as well.
NB! The most critical part for every online selling and export import business is to select the right product- 80% of the success depends on it. There are 2 most important criteria,

3. Travel agency- traditional and profitable business in India

The list of the most beautiful places in India cannot be complete without the Taj Mahal in Agra, Uttar Pradesh. White marble tombs were erected by the Emperor Shah Jahan of the Mughal emperor in the 1600s to commemorate his third wife, Mumtaz Mahal.
India is always a dream destination for many visitors because of the beautiful natural landscape, the unique architecture, and ancient culture.
India’s Indus River civilization flourished five thousand years ago. India is the birthplace of four important religions in the world: Hinduism, Buddhism, Jainism, and Sikhism.
India is planning to cut taxes and create more incentives for tourism to boost economic growth and create more jobs. In the future, tourism will be one of the fastest growing sectors in India, become more and more foreigners will come to discover India.
Here is no doubt, that if planned properly, business in the travel/tourism sector can be very profitable and lucrative.
You can start a different business in the travel/tourism sector such as organizing tours, airline ticketing, travel consultancy, travel agency…
To run a successful travel business and attract more customers to use the service, we need to do research for potential customers. Analyze and meet the needs of customers in a timely manner, bring satisfaction to customers.

When arranging services for tourists, the travel business considers several factors such as:  

Time and distance
The purpose of the trip
Consumption habits
Safety of the vehicles
Stay and eat
Prices and quality of the tour
Explore the right tourist destination
Festivals and entertainment included

4. Fashion Boutique- Import foreign goods and sell them as premium 

The fashion industry is really a thriving industry not only in India but also all over the world. There are many brands of clothing, some shoes are national brands and some others are international brands.
The fashion industry is really a very competitive industry, all clothing and footwear designs must ensure that they always match the trend if we want to continue doing business. In the light of Indian rising middle class, it is clear, that there are business opportunities available. If you are able to select the right niche and focus on the right target group, you can have a profitable business in India.
We can choose from many kinds of fashion businesses in India to fulfill the dream of owning our own fashion boutique.
It could be the opening of a store and creating a boutique of your own style. Or rent a kit and enter the fashionable “trendy” items to attract customers: Even you can open the online shop to get more customers.

Tips for a boutique keeper:

·         For fashion stores, you have to identify the subjects ( target group) you want to sell your products: Men, women, the elderly, children. The products of fashion are diversely like clothes, shoes, perfumes, hats, belts, bags …
·         Choose the location near to the most targeted customers. For example, the fashion business for students should choose places near schools, dormitory … to be able to easily attract potential customers.
·         Don’t spend up all your money to the inventory/stock. Spend money to cover the cost of the first months, invest more in the stock if you see big interests by the customers.
·         Design the shop so that there is the attraction and unique, a utility for customers during the selection of clothing or fashion products. Bring a unique and beautiful aesthetic to customers, make customers curious. A suitable aroma is a bonus for a good boutique shop.
·         In the process of selling, it is necessary to have appropriate attitudes and respect for customers. Sharing and good conversation with customers will create a good image. Giving compliments about a customer’s aesthetic eye or concern for customer issues is also something that makes customers happy.

5. Foods and beverages  

India is a densely populated country and strongly influenced by religion, Indian cuisine reflects a true-to-life social life. Variety in flavors, colors, India is a paradise of spices and flavors.
The most characteristic of Indian cuisine is the use of spices in cooking. Dozens of different spices are used to dramatically stimulate both sight, smell, and taste. Spices from India have become a luxury item in the West for a long time and are one of the inspirations for foreign trade between Europe and Asia.
Some famous spices in Indian dishes.
Chilli, mustard, cassia, garam masala, cardamom, cinnamon, cloves, Laurel leaves, mint leaves, nutmeg, turmeric, curry leaves, ginger, coriander, saffron, and others.
And exporting to the western countries is a very profitable business in India. For exporting business, it is very important to select the right products and the right target markets.
We will consider export-import business later on in this article.
Now back to the food and beverages. There isn’t a better way to combine food and beverage and create maximum value out from it than starting a restaurant business.
The restaurant business is one of the most popular businesses because going to restaurants has become a habit of people, especially in urban areas, tourist destinations in India. It is famous because the demand for different food is more.
But the restaurant business is also very competitive.
In order to be successful in it, two things matter most:
        You need to select the right style
        The most important is- right location.
 you decide to open a European hotel or a traditional Indian restaurant or a Chinese restaurant. One should pay attention to the budget of start-up, cultures of the places, source of supply, designs for the restaurant, menu, staffs, marketing, and brand name, etc.
Even, this business is competitive; it is a good chance, that it can be a very profitable business in India.
6. Pharmacy business-most profitable manufacturing business in India
In recent years, the Indian pharmaceutical industry has created its own position. India is a country known for supplying low-cost generic drugs to the global market, which has grown and matured more with the development of technology and product research.
Today India has become the world’s largest exporter of generic drugs, the fastest-growing and the most competitive.
India is exporting drugs to more than 200 countries, of which the major market is the United States. Between 2014 and 2016, US pharmaceutical companies have doubled the number of licensed medicines for India from 109 to 201.
Indian pharmaceuticals accounted for 40% of the total new licensing from US companies, up 35% over the same period last year.
India has a huge advantage over a plentiful human resource in the pharmaceutical industry, including many scientists and engineers. The country is providing about 80 percent of the world’s AIDS-fighting drugs, and the potential is growing.
In India, the licensing period for pharmaceuticals, foodstuffs are only about 5-7 years, thereby allowing companies to mass produce products later to reduce costs.
This is completely different from the United States or many Western countries with a copyright term last for decades.
In addition, India does not grant patents for pharmaceutical inventions that do not outperform older drugs unless scientists demonstrate it.
The Indian pharmacy industry is very competitive in the world. For people, who have experiences, education, and knowledge about pharmacy can start an export business with Indian drugs and other pharma products.

7. Cafe business- Popular small business in India

Cafes are spread all over India and are becoming trendy by young people who choose cafes as their destination to meet and exchange. Research has shown that 40% of young people drink coffee, simply because of the joy, suggesting that the trend toward coffee is promoted more socially, rather than preference or “need”.
All these signs indicate that coffee culture is accelerating.
Young people meet and drink coffee because of the fact that Indian society is influenced by Westerners, which has helped to strengthen the major brands such as Starbucks, Costa and soon to be the brand chain.
Before deciding to open our own drink shop we should equip ourselves with the necessary knowledge especially those who have not experienced in this field.
It is necessary to thoroughly understand the raw material ( coffee beans) areas, compare the quality and price of each region,  understand the customer’s feedback on the quality of the material.
Selection of quality raw materials supply, indirect factors affect the revenue and profit of the café.
Owning a perfect drink-making formula with delicious quality is one of the key factors to keep and attract more customers to the cafe.
 8. Steel & building materials store- traditional local business
Global demand for steel is expected to rise to record levels this year, driven by strong manufacturing activity in India. India will become the world’s second largest steel producer and is also a big importer of steel.
In recent years, India’s steel mills have recorded record highs to meet the growing demand for infrastructure, new homes, and consumer goods in the country. With high growth rates, the Indian steel industry is expected to produce about 300 million tonnes by 2029-2030.
The Indian government also paid attention to the “Indians buy Indian goods”, which emphasized the need to buy steel produced domestically, thus increasing domestic steel consumption.
The world’s steel industry is turning to electric furnaces because of lower carbon emissions. The rise of the auto industry also boosted domestic demand for steel.
In addition, India also exploits construction materials such as sand, stone, and cement.
From the previous, it is clear, that having a traditional local store for steel and building materials can be a good, stable and profitable business in India. It is so because the Indian middle class is rising and constructions and building business see stable growth.
But open a building material store requires a significant amount of capital. Most people do not have the money necessary to start a business in this area. So if we cannot meet this capital, we shall have a strategy to raise capital effectively and thoroughly from the bank, relatives, or combine business with others.

9. Mobile phone business

India is becoming one of the hottest mobile markets in the world. The number of mobile users in India is roughly the size of the US population, and the number of users is expected to increase substantially in the future.
India has 650 million mobile users, but just over 300 million people own Smartphone and that number will increase by more than 50% over the next few years. This is a great opportunity for Smartphone makers.
This is also good news for importers and exporters and also for those who are dealing with phone repairs
International brands like Samsung, Apple, Oppo, Vivo, and Xiaomi are all trying to compete with Indian brands like Micromax. Samsung holds nearly 23% market share in the country.
iPhone is too expensive for most Indian people. However, Apple has recently started producing these smartphones in Bangalore, India’s technological capital, hoping to offer a more competitive product.
Along with the diverse development of the mobile phone market, telephone repair is now considered a top career choice for young people. This is the type of business with the initial investment costs not too high but profits quickly if there are skilled workers.
Mobile phone and its accessories retail and repairs is popular, easy and very accessible business for young people in India. This kind of business doesn’t require much capital, but it can be a profitable business in India already on a small scale.

10. Graphic designing business- suitable for artistic people

Graphics is a field of communication in which messages are received through the visual path. Graphic design is the creation of visual solutions for means of media.
Graphic designers are professionals who create business cards, leaflets, logos, leaflets, web pages, stationery, and other marketing products.
If the image conveys a good business message, it helps the business brings an impressive identity towards the target audience.
With design elements such as colors, fonts, and spaces combined carefully, brochures can enhance business success.
Graphical design can be a good choice for a man who has talent. This kind of business is not suitable for everyone. But if you are talented in art and you have the necessary skills, then this business can be for you the most profitable business in India with low investment.

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