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27 Niche, You Can Look for Startup Business

Startups have a very positive time now. Many investors, including the government, are coming up with financial and other resourceful help for the startups across the world. Globalization and the mass popularity of the Internet are 2 major reasons for the increased popularity of startups everywhere in the world. If you are looking for some lucrative ideas for a startup business, here are some interesting niches which seem promising:

1. Alternative Energy Solutions

The entire world is looking for green and sustainable energy solutions that come easier on their pockets. Even the government is looking for innovative ideas that can solve energy shortages and other cost issues we are facing, especially in a large country like India. Solar, Thermal, and Wind energy are some solutions that are being utilized now, but there are more options like geothermal and wave energy which offers immense potential. Studies have revealed that India can produce 2% of their energy requirements from Solar Power. Optimal utilization of renewable energy can reduce the CO2 emissions by over 8% to 9% within the next 10 years.

You need –

  • Technology
  • Infrastructure
  • Innovative ideas that are feasible under normal conditions
  • Investment
  • Government Authorization

Renewable energy solutions can be a great boon to our society in terms of more financially feasible solutions that are safer for the environment. If you have innovative ideas that can transform the way energy is being produced and distributed, this is the best time to get into action. Government and Angel investors are willing to fund such path-breaking innovations provided your project plan is well-framed and approved.

2. BPO and Call Centres

Many organizations are outsourcing Business Processes and Call centers to make sure these subsidiary services get professional experts who can handle their customers and various processes efficiently. According to many studies and surveys, the future of BPO services in India is quite bright. You can not only start a profitable business but also provide employment to a large number of educated youngsters in the country.

You need –

  • A strong business plan
  • Partnership or Proprietorship
  • The required licenses
  • Business premises or home business
  • Technology and other business resources
  • Human resources
  • Marketing and Advertisements

3. Digital and Social Media Marketing

Digital marketing and Social Media Marketing are probably the most lucrative and in-demand services currently. There are many aspects you can concentrate on and get yourself established in the World Wide Web. With Globalization, most of the organizations, irrespective of their size and geographical location, are looking at a global audience and reaching out to the right target audience is an art in itself. Learn the nuances of Internet Marketing and you can run a lucrative startup that requires very little initial investment.

You need –

  • Workstations and the Internet
  • Software for marketing surveys
  • Various Social Media network accounts
  • A large number of social connections
  • Smart Internet marketing strategies that deliver
  • Continuous evaluation of the strategies and revising them wisely over time

You will find that very little investment in terms of infrastructure is required and multiple accounts can be easily managed by a single person. You need to know what exactly Internet Marketing is and be always on the move as far as the latest technology and social media buzz are concerned. Digital marketing offers you more flexibility since you can market your brand from anywhere, anytime.

4. SEO and Content Management

This is a part and pack of Internet Marketing services yet requires a totally different expertise. Specializing in content management and SEO is a great way to establish as a singular or a group of creative and technical writers. Creative writing is a demanding niche and the Internet Marketers are always looking for tie-ups with good Content Managers and authors.

You need –

  • Workstation and the Internet
  • Knowledge and practice of White hat SEO techniques
  • Understanding of various industries
  • Read what’s trending
  • Creative writing skills
  • Adapt your writing to meet the SEO and client requirements
  • Publishing accounts on trending websites (optional)
  • Content Management, Project Management, and Time Management Software
  • You own website to showcase your own content

SEO and Content writing are closely related to Internet Marketing. In fact, the quality of content and SEO helps the digital marketers get a better audience who remain loyal. It is the most profitable venture you can start as a lone freelancer if you can write in good English and adapt your writing to the changing client requirements and incorporate some keywords for the Search Engine Optimization. You need minimal investment as most of the content management software are available free of cost online and such companies can operate from a virtual office.

5. Web designing

With every organization looking for online visibility and building an online reputation, they definitely need an exclusive and attractive website to start with. Web designing requires technical and creative skills and if you have them, this is the right way to go forward with your startup idea.

You need –

  • Creative UX / UI Designing skills
  • Knowledge of latest and trending Web Technologies
  • Licensed Software and specialized workstations with high-speed internet
  • Web hosting tie-ups (optional)

Web designing companies charge anywhere from Rs.10, 000/- to lakhs for a well-designed website using the latest technology. If you plan to start up a web designing company, here are some ways you can make web designing profitable.

6. E-commerce Venture

If you are a small retailer, you can get some global audience by starting an e-commerce venture and showcase your products to the world. To start with, you can partner with one of the established e-commerce ventures like Amazon or eBay and then based on the increasing response you can establish your own online store and get going. Just make sure you have all the required permissions and licenses in place before you start off. You can probably partner with a logistics firm to make shipments hassle-free.

You need –

  • Licenses for procurement and selling of legitimate items
  • Export licenses if you want global customers
  • Products that are in demand or create demand for them by marketing
  • E-Commerce storefront and payment gateway
  • Warehousing, if you are dealing with a large number of products
  • Internet Marketing
  • Image and Catalogue Data Entry
  • Tie-up with logistics partner for shipments
  • Customer care

E-Commerce is definitely the most happening sector in retailing. Imagine reaching out your e-commerce store to over 300 billion internet users! With over 120 crores of the population in India itself, even if you do not intend to export your products outside India, you can still reach out to more than 500 crores of people who use online or mobile stores for purchasing various products. Indian e-commerce sector is expected to do $100 billion business by 2020 which is quite promising.

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7. Window Cleaning

Window cleaning is a much in demand job, particularly in the cities. High-rise buildings, especially fully covered by glass windows, definitely need some experts with the right equipment and expertise to keep their windows cleaned spic and span. It is a lucrative job even though it involves high risk owing to the hazardous conditions under which the workers have to work. The compensation is also good because of the risk involved. Just make sure you follow the safety procedures very strictly and get complete insurance coverage.

You need –

  • Employees trained for working in hazardous working environment such as elevated planes
  • Supervisors
  • Cleaning equipment
  • Safety equipment
  • Licenses and insurance
  • Vehicle to transport employees and equipment
  • Mobile contacts

You can start off this business if you have the right resources. Make sure that you maintain the quality of work to keep your customers satisfied so that you will get long-term contracts for organizational work.

8. Household Repairs

Getting someone to repair a leaking pipe or broken window can be very difficult. That’s exactly why household repairs are a much-in-demand job. People neither have the time or know-how to do such errands and hence it will be a lucrative business idea provided you have a good team of expert plumbers, electricians and carpenters and other technicians who are available on demand.

You need –

  • Expert Plumbers, Electricians, Carpenters, Painters etc. who are available on demand
  • Supervisors
  • Supplies and Equipment
  • Safety equipment
  • Licenses and insurance
  • Vehicle to transport employees and equipment
  • Mobile contacts of these experts

This is a profitable idea if you are good at people management. You need to know the basics of these errands and must be available as a replacement in case someone does not turn up. Quality services and supervision can get you more clients and recommendations.

9. Housekeeping Services

With the parents working in the office, and the kids are busy with their studies, no one gets enough time to clean up the house. Housekeeping is a demanding job and requires detailing and attention to keep the home or office neat and clean. With the right people and equipment, you can easily start a housekeeping services business and with quality services offered at competitive rates, your clients will help you get much more.

You need –

  • Trained Employees on housekeeping and customer interaction
  • Supervisors
  • Cleaning equipment
  • Safety equipment
  • Licenses and insurance
  • Vehicle to transport employees and equipment
  • Mobile contacts

You can consider this startup idea which is very profitable. Make sure you have a good team of hard-working employees, efficient supervisors and ample supply of good quality cleaning equipment and materials and safety equipment. Close supervision is a must to ensure maximum quality of service and profitability.

10. Taxi Service

With online taxis and on-demand taxis getting very popular in most of the countries, running a taxi service decently can make a good business option. Just make sure you maintain the car well, engage well-behaved drivers who know the area or can drive with the help of GPS and maintain a good relationship with the clients and you will have more clients coming your way.

You need –

  • A valid driving license and license to run a taxi service
  • A licensed taxi car in good condition
  • An Android phone with internet connection
  • A mobile app and website
  • Some marketing and organizational tie-ups

With the success of Uber in the Indian market, many local smart-taxi services are operating. But they are concentrating more in the urban area. If you can extend your services in the less-focused areas and offer customized services based on your locality, this is a wonderful startup idea to consider. It gives you ample freedom financially and personally.

11. Tutoring

Tutoring, online or conventional can be a great business too. If you are an expert in a particular subject or language, you can establish your tutoring business single-handedly. As you get more demand for other subjects, you can hire part-time or full-time tutors who are willing to join your venture. Education cannot be treated completely as a business and hence make sure you follow some ethics. Online tutoring is easier to establish and market as you can target the entire world for students.

You need –

  • Thorough knowledge of the subject / topic you are planning to teach
  • A team of experts to handle various subjects
  • Well-defined Curriculum and shareable Course material
  • Course counsellor / Student coordinator
  • Computer with microphone, speakers and webcam and high-speed internet for live or recorded video telecast of the classes
  • Basic technical / internet knowledge to operate the class
  • A secured Tutoring website in which you can broadcast your online tutorials
  • Marketing

It is a very lucrative startup idea since education is never-ending. The more subject experts you have, the larger your student group can be. You can charge anywhere from Rs. 10,000/- onwards for each subject per user. Just make sure you cater to all types of tutoring from daily and detailed to crash courses on specific topics.

12. Caregiving for the Elderly

This one has more social relevance than profitability. Most of us are familiar with child-care centers that take care of the children during the day time while we are at work. There are many day-care facilities for children in almost all the cities. But how about day-care centers for elderly people whom we leave alone at home? The prospects of caregiving as a business are very high too.

You need –

  • Trained caregivers / nurses for taking care of the elderly people
  • Interiors and ambiance friendly for the elderly people
  • Vehicles to pick and drop them need to be as friendly too
  • In-house clinic and medical doctor to handle any emergency
  • First-aid and other basic Medical supplies
  • Live Pantry
  • Trained entertainers and therapists who can keep your clients happy and healthy
  • Tie-ups with medical insurance providers
  • Tie-ups with hospital / clinics
  • All required licenses

It is a very risky affair since you are dealing with older people who may be suffering from many ailments. But the prospects are very high if you are seriously trying to make their lives happier. Most of us find it very difficult emotionally to leave the elderly parents alone at home. Leaving them alone with a caregiver can be risky unless we are 100% sure of the person in-charge. The only other option is to accommodate them in full-time senior citizen homes which is neither socially nor personally positive. The day-care center can keep the seniors happy and active too. You need compassion in this niche and consider humanity more than profitability.

13. Tour Guide Services

Every country tries to market itself as a tourist destination to keep the floating population ongoing. Tourism is a great boost to the country’s economy, no matter how small or big it is. If you live in a popular tourist destination, you can take up providing tour guide services as a profitable business venture.

You need –

  • Thorough knowledge of the tourist destination
  • Knowledge of different languages and definitely English
  • License for tour guide
  • Tie-ups with various tour operators
  • Good contacts with other guides
  • Printed handouts will be helpful
  • A little marketing
  • Mobile contact

This is one of those individually manageable startups which can slowly develop into a network of the right contacts. Thorough knowledge of locations, popular languages, being able to interact with different types of tourists and good connections in other tourism-related services will take you a long way in this business. This story about a successful tour-guide startup that is a $16 billion business will help you.

14. Dress Designing

If you are a designer, even if only by interest and talent, you can easily start a dress designing boutique which has great demand among the well-to-do section of the society. Most of the youngsters prefer an exclusively designed dress to wear on special occasions like graduation, engagement, and wedding. Adopting latest technology and creative designs can give you an upper edge over the others in the Dress designing business.

You need –

  • Knowledge of latest fashion trends
  • Knowledge of dress designing
  • Knowledge of fabrics
  • Tailors and Embroidery experts
  • Fabric and other Supplies like sequences, buttons, beads, zippers, stones etc.
  • Infrastructure for dress making or possibilities of outsourcing
  • Designing and Cataloguing software
  • Photographers and models
  • Website and internet connection
  • Marketing
  • All required licenses

It is a lucrative business which will never go out of demand. You can take up organizational orders too since many organizations are considering designer uniforms for their employees and students to maintain their individuality and as a matter of prestige.

15. Tailoring

Tailoring is as much in demand as is the designing. Don’t worry if you do not have the technical know-how of fashion designing. Tailoring requires finesse too. Many designers tend to outsource their bulk tailoring requirements which can be your business.

You need –

  • Knowledge of latest fashion trends
  • Expert tailors who stick to the measurements and client specifications
  • Supervisors
  • Premises for the workshop
  • Sewing machines and other hardware
  • Tailoring supplies
  • Administration and marketing staff
  • Insurance and other licenses

Maintaining the skilled tailors can be a little tricky, especially in a country like India where trade unions spring up with a group of 10 to 15 employees joining a firm! It is important to know what you are into and get some able support staff who can handle the skilled labors smoothly. With a local tailor charging anywhere from 500 to 1500 for stitching a simple saree blouse, the prospects are quite high when you consider organizational or bulk orders. With good quality stitching and supplies like hooks, zippers, and buttons, you can easily get repeat orders and recommendations. Here’s how Urban Tailor raised funds for its startup.

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16. Jewelry Designing

Jewelry designing, till recently, was a demanding job in organizational level. Only the jewelers and brands were looking for jewelry designers. Now celebrities and corporate officials are demanding designer jewelry to suit well with their designer attire for special occasions. The same applies to the affluent people too who prefer a designer look on special occasions. Precious jewelry designing has become a highly profitable business as the designer stuff is priced exorbitantly and yet has takers!

You need –

  • Knowledge of latest fashion trends in jewelry
  • Knowledge of jewelry designing
  • Knowledge of different precious metals, stones, and pearls
  • Trustworthy supply of precious metals, stones, and pearls
  • Supply of other materials and chemicals used
  • Designing software
  • Latest technology and tools
  • Support staff and security
  • Social media marketing
  • Licenses and insurance

This is another creative field which attracts a premium clientele and offers premium profits along with a prestigious and glamorous social status. Once established, you can get global assignments for designing personal jewelry for celebrities’ world over and even get associated with many prestigious brands too.

17. Interior Designing

Interior designing basically requires a lot of creativity and interest. You can always learn the tricks of the trade and learn on the job. The experienced interior designers who have been associated with prestigious projects are easier to establish as a brand. A little bit of marketing can help in a big way too.

You need –

  • Interior Designing methods and techniques
  • Creative thinking
  • Basic Knowledge of architecture
  • 3D designing software
  • Sources of various materials, artifacts and paintings used for interiors
  • Knowledge of lighting
  • Knowledge of colors / painting
  • Knowledge of furniture
  • Knowledge of exteriors and landscaping
  • Knowledge of Fen Chui / Vaastu and other similar lines of beliefs
  • Team of skilled labors
  • Trained and experienced Supervisors
  • Warehouse and office premises
  • Administrator and Marketing staff

Interior designing is for the creative mind. The prospects in this field are high since more and more people prefer specially designed interior for their apartments, houses, offices and shops no matter how small or big they are. Creative designs, unique color combinations and innovative ideas designed and executed well can fetch you more clients and even the builders looking out for you. Here’s the story of a successful interior design startup.

18. Furniture Designing

Even though it is considered a part of interior designing, many people consider changing their furniture once every 3 to 4 years and look out for designer furniture. If you can come up with creative, innovative and ergonomically fit furniture, you have great prospects in the global market.

You need –

  • Furniture Designing knowledge
  • Designing software
  • Latest trends in furniture
  • Knowledge about furnishing and materials
  • Ample supply of quality materials
  • Carpenters and other skilled technicians
  • Machines and tools

It is another creative option and offers a lucrative future by means of association with prestigious builders, projects, and celebrities.

19. Financial Accounting Firm

Now we come to the consulting and accounting part every business has to deal with. Startups always find it difficult to engage expert employees for different aspects of their business. Accounting is inevitable and by establishing an accounting firm, you can offer your services to the SMEs and startups who will welcome you with both arms open.

You need –

  • Experienced Professional accountants with specialization on different aspects of accounting and various industries
  • Resources in terms of people and books for references
  • Accounting software
  • Junior accountants and administrators
  • Website and internet connection
  • Office premises or virtual office
  • Certifications and licenses
  • Registration as an authorized accounting firm

Consulting and such services do not require many infrastructural investments. Experienced professionals and their precious consultations are what matter. You need to keep updated on the various regulatory changes as and when they are imposed upon.

20. Business Consulting

Business consulting also requires personal investments rather than infrastructural investments. Even retired hands can get into business consulting keeping themselves updated on the current regulations and market trends.

You need –

  • Experienced Professional consultants with specialization on different industries
  • Resources in terms of people and books for references
  • Market analysis software
  • Website and internet connection
  • Office premises or virtual office
  • Certifications and licenses
  • Registration as an authorized consultancy firm

A flat consulting rate or rate per service rendered can be charged from the clients.

21. Financial Consulting

Every business requires financial advice and services for acquiring their capital and operational funds. Individuals also sometimes are in need of urgent financial requirements for meeting unforeseen circumstances. Financial consulting can help them take the right decision and support services for getting their loans sanctioned from the financial institutions.

You need –

  • Experienced financial consultants with specialization on different industries
  • Resources in terms of people and books for references
  • Loan calculation software or Excel programs for complex calculations
  • Knowledge of various basic compliances of loan eligibility and the documentations required
  • Office premises or virtual office
  • Certifications and licenses

This may seem very difficult initially, but as you handle more clients and deal with different types of loans and requirements, you will be familiarized with the entire process. Working or retired professionals who have experience in dealing with bank loans can associate for this startup. The consulting firm can charge a reasonable percentage of the loan amount sanctioned based on the complexity of each case.

22. Investment Consulting

A financial advisor or investment advisor is a business idea that works better as a team rather than singularly. If you have a team of investment experts who are each specialized in a different aspect of investment, as a team you gain a better advantage over the freelancers. There’s very little establishment expenses if you are working in a home office or virtual office. Investment advisers can charge their clients on the profit earned on the investments and get paid by the financial institutions and other organizations where these clients invest through the advisors.

You need –

  • Experienced investment consultants with specialization on different options such as shares, mutual funds, banks, other financial institutions, insurance, gold, real estate, forex etc.
  • Resources in terms of people and books for references
  • Investment software / Trading software
  • Knowledge of various taxation policies
  • Office premises or virtual office
  • Certifications and licenses

Investment consultants make quite a fortune by helping others invest wisely and that too without any basic capital investments. You need not have a large clientele and can instead concentrate on a few wealthy individuals and organizations.

23. Software Consultant

IT and digitization have taken the world by storm. But how do the organizations decide on which software to invest on or subscribe to? As a Software consultant, you can collect maximum information regarding the requirements and match it with the best available software and recommend it or suggest a software firm who can develop it for the organization. Here too the consultant is paid for the advice as well as the recommendation.

You need –

  • IT knowledge
  • Various industry knowledge and their business process
  • Knowledge of emerging technologies in IT and their implications
  • Tie-ups with software solution vendors
  • Trial versions of various software
  • Laptop and the internet
  • Marketing
  • Certificates (if any) and Licenses

Experienced project managers can consider this as a lucrative startup option. A team of project managers who have experience in various industries and technology can team up to cater to different industries.

24. Image Banking

Image banking is a lucrative startup option for photography enthusiasts who have ample image editing knowledge also. Images are required in all fields, from interiors, marketing, advertisements, brochures, websites, textbooks, newspapers and publications.

You need –

  • High-resolution photographs on different themes
  • Licensed Image editing software
  • Tie-ups with photographers and models for customized photo-shoot
  • Website with online repository of watermarked images
  • Laptop and the internet
  • Marketing
  • Licenses

Image banks are paid a decent amount to use a licensed image in the required resolution and sometimes, the copyright is time-bound. You can also create a media bank with video footages of interesting events or arrange for special shoots for the clients. Once established, you can operate this worldwide.

25. Event Planning

Event planners need to be energetic and on their toes all the time. They have to be resourceful and have a lot of sources for various requirements for each and every event. From decorations to catering and photography, the event planner needs to know about everything. A team of creative and energetic enthusiasts can consider this startup niche which gets a professional touch when integrated with technology.

You need –

  • Creative mind for conceiving themes
  • Organizational and leadership skills to plan parties and lead a team efficiently
  • Tie-ups with decorators, caterers, game planners, anchors, celebrities, media, photographers, travel and tourism operators, designers, performance artists, sponsors etc.
  • A large team of energetic people available on-demand
  • Suppliers of various decoration and gaming costumes and materials
  • Laptop and the internet
  • Warehouse, office or virtual office

Since you can outsource most of these aspects such as decorations, games, media, photography etc, even a small team of 3 to 4 people can run the event management startup comfortably. You need to know how to negotiate, with your client as well as your vendors, because that’s where your margins are. Detailed planning, estimation, and stringent execution are a must to make this a very lucrative business. Otherwise, if you enjoy celebrations, this is the right business to start!

26. Catering

Cooking is an art. Cooking bulk quantity is maths! Catering requires the cooks to carefully calculate the ingredients, their quantity, and timing carefully while making them in bulk. Hygiene and ethics are as important too as you are making food for people to eat. A single miscalculation or compromise on quality can ruin your reputation and throw you out of business.

You need –

  • Love for cooking and eating tasty food
  • Knowledge of various cuisines or resources specialized in each variety
  • A large team of cooks and support staff
  • Utensils, tools, and machinery to cater to bulk orders
  • Supply of quality and specialized ingredients
  • Supply of disposables and other consumables
  • Technical updations will be advantageous
  • Vehicle for transportation
  • Warehouse / office

As long as people conduct mass events like engagements, parties, weddings etc, people will need a caterer. People eat food every day and hence, if you maintain hygienic standards and authentic taste of food, you will never run out of business. The food industry is one of the most lucrative businesses with more than 50% profit even if you run it ethically.

27. Cakes and Bakery

Baking is another art which requires passion and precision. If you are passionate about making different flavors of cakes, pastries, and other bakery items, you can get into this business with a small investment to start with. Take small orders and get very creative to impress your clients not considering the profit as much initially.

You need –

  • Love for baking cakes and pastries
  • Knowledge of various tools and techniques used
  • Continuous research on new flavors and dishes
  • Innovative ideas on presentation and flavors
  • Social media marketing
  • Latest technology like 3D printing
  • Ovens, freezers, and other equipment
  • Supplies of quality bakery ingredients and exotic flavors
  • Tie-ups with event managers and hotels

Baking, like catering, will never run out of business as long as you are innovative, come up with tasty flavors and stunning designs. The profit you can look forward to is definitely 50% or more depending on your other overheads such as the rent of office / business premises and employee salary. Maintaining hygiene and quality of ingredients are primarily important for the success of this passion-turned-into business.

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