With changing times the business scope also change. Change in demographic structure and standard of living in India has given a scope for many new businesses. Based on my personal observations and analysis I believe the businesses listed below are few of the Businesses perfect for present time.
Restaurants & Coffees Houses: - You can find small tea stalls, food stalls in almost all over India. But, it’s very difficult to find a place where you can sit, drink coffee or have lunch and discuss business peacefully. India has a big problem and the problem is population. Hence you find all tea stalls or restaurants always crowdie. The demand of good coffee and tea cafes and business restaurants is not only in big cities, but in Tier II and Tier III cities too. Except few companies we don’t have major players in this niche area. Although now foreign companies like starbugs etc have entered in Indian market. These companies are specialized in this business and will dominant the market. But being familiar with local culture and taste, we have the advantage of being local. Indians prefer taste along with quality and when it comes to taste, Indian food stands way ahead. So, its a good idea to venture in business of restaurants & cafes which not only provide good environment for peaceful discussion, but also a better tasting food will lead to great success.
So, next time you see an Industrial area in your city without business restaurant, try to open one yourself or take franchise of the other market leaders like Cafe Coffee day etc.
Knowledge Processing Outsource: - “Take an example of Multi National Company indulged in producing Stationary products. Since 70% of population of India lives in rural areas, MNC targets the rural areas.”
In this situation, there arises need of a new business which provides the relevant data, analysis, and demographic structure to Company to plan its marketing and other strategy.
Scope of KPO does not stand only to the above example. Every Business, Industries needs some information, data, analysis etc to plan its strategies.
Today KPO provides following services:-
- Data Collection
- Data Analysis
- Legal Compliance
- Talent Gap Filling
- And many other services
So, if you feel that you are good at this work and can provide services relating to other work, then you are good candidate to start this business. This business requires that a good and experienced team is selected which always update itself with latest happenings.
Web Developers: - Mall culture is not yet fully spread in India and it already has a new competitor, E-Malls. Today everything can be bought online, and currently many companies have ventured in this business. But if you compare these Internet Retailers with the offline retailers, you can notice they are not even .01%. And this YUG of internet there are very much chances of Offline Retailers, Manufactures or wholesalers going online.
And you would observe that every small Town, small city or big city have at least 10to50 local established businesses, and there are very much chances of them going online soon or later. So, if you are good at Web-Development, start working part Time and once you start earning more leave your job and shine in Web-Development Business.
Spa & Saloons: - With the standard of life increasing in India, demand for good Spa and Saloons has increased. People are nowadays are seriously more concerned about their skin, Hair and Appearance.
So, if your city or Town has at least 50 higher middle class people, you can go ahead with your plan of starting a ‘JARA HATKE’ Spa and Saloon.
Skill Development and Training Business: - Take example of Mr. Singh, who is an Ex-Army man and now provides the training to security guards of various companies. Mr. Singh is not only doing the works he likes but is also earning good.
Nowadays companies are adopting a different strategy of appointing a less skilled people, since they need to be paid less. And after appointing them companies train them and make them skilled as per requirement of company.
So, if you think that you are expert in job and can train other than you can start business of developing the skill of others.
You can always start this business whether you are an Accountant, Engineer, Motivator of you have any other skill.
Commercial Farming: - With introduction of foreign food chains in India, demand for foreign vegetables has increased in India. Take example of pizza, some of its ingredients are basil, oregano, paprika etc. and most of these are foreign crops. And these cost more when imported.
Its just not only about Pizza but many other food which require different vegetables. So if you love farming, grab this opportunity and start cultivating the foreign crops. And you can cultivate not only vegetable but also European origin Flowers which has very good demand.
Taxi Booking Company: - Conveyance is another big unorganized sector in India. So, if you are good in managing people and have a good experience in Transport business. Give a try to organized Taxi Business.
Posted 4 years, 10 months ago by CA Pulkit Sharma
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