Here are some small business ideas that require minimal investments but can result in major financial gains:
Blogging is one of the most popular small business opportunities that you can look into. Millions of people around the world have successfully made blogging their full-time business and are earning very good revenues. Most importantly, all the investment that you need to start a blog is a computer, an internet connection, a website domain and a host. The income potential from your blog can be endless given if your blog gains popularity and you can scale up the content. Moreover, vlogging on YouTube and other social media platforms has also become a mainstream profession for millions of people. Vloggers who have a high number of social media followers and views also make large amounts of money.
The food business is one that will always be in demand, in every locality where humans reside. Over the past few years, food trucks, which are small trucks that serve various kinds of foods, have become increasingly popular in India, especially in cities. If you have a small budget and you are good at cooking, or if you know someone who is an excellent cook, you can consider partnering up with them to start a food truck. If you wish to reduce your initial expenses, you can consider renting a food truck instead of buying one initially. If your venture proves to be successful you can then even consider buying your own food truck or expanding into multiple food trucks.
If you are a subject matter expert in any particular subject like math, physics, chemistry, etc, then you can lend your expertise to others by starting online or offline coaching classes. Coaching services have become increasingly popular and students/parents a lot of money for quality tutors. Not just academic subjects, but coaching services for other stuff such as musical instruments, foreign languages, singing, dancing, calligraphy, etc, are also very good business opportunities.
During the age of the internet, video content has become one of the most widely consumed forms of media. Naturally, the demand for people who can create video content, i.e. photographers and videographers has skyrocketed. Moreover, photographers and videographers can charge a very high amount, depending on the client and the project, so the potential to earn a significant income is there. If you are interested in photography or videography as a hobby, you can think about turning it into a small business.
Drop Shipping/Online Marketplaces
Drop shipping and selling products online is also a very profitable business if done right. If you can procure speciality local products and cheap prices and sell them online for a big markup, you can make immense profits. Similarly, if you can source exotic products from different countries at cheap rates and sell them internationally at a major markup, you can make a large amount of money. However, you might want to learn this whole process at a dropshipping or online marketplace first, before you set out to start your own business.
Disclaimer: This article does not intend to pass on any financial advice and BQ Prime does not endorse any of the businesses mentioned above.