It is difficult to start a business if there is less exposure to innovative ideas and risk exposures. This post deals with new ideas for small businesses to start with ₹50K. India is a culturally diverse country and one of the highly populated countries. This gives us various business options to start. The majority of the people here belongs to an economically low background and prefers to shop within a budget. So to grow a business in India, we should target the requirement of the majority.
Now the question arises, “what business can I start with ₹50,000?” We can start many businesses with ₹50,000 investment. These businesses can either be fully reliant on creativeness or innovativeness. For example, the business for food delivery is an innovative idea compared to small businesses making new designed shoes or clothes.
Did you know?
Some small businesses under ₹50,000 that have grown dramatically in recent years are food and grocery delivery, online tutorials and learning, digital content creation and wedding businesses.
Also Read: Excellent Business Ideas in Mumbai
What Are the Best Businesses Under ₹50000?
Starting a business requires an initial investment, also known as capital investment. This can be tricky as capital investment differs, and there is no exact amount for any business idea. Another problem one can face is starting a business with limited capital. Indian families and markets are best known for their confined budgets. Thus, it is difficult to cultivate business ideas within a confined budget. With modern society and online trends, new businesses have started developing. It is important to understand the customer’s needs and the limitedness of their budget. Once a product crosses the budget, it becomes luxurious to the mass of middle-class families in India. So small businesses target the small to the middle class of India. Many ideas are there to support business with ₹50,000 investment. Some of the ideas for businesses are mentioned here:
Tiffin or food delivery services
Tiffin and food delivery is a profitable business under ₹50,000. It requires capital for raw materials to prepare food and the charge of the delivery person. This business can be started in an area and expanded with positive feedback.
Food Stalls or Food Trucks
A small food stall or food truck is well accepted because of its cost-efficient services. A small food stall like that of noodles, momo, different types of chats or other street foods are liked by most people. They prefer to buy from food stalls rather than a fancy restaurant. Food stalls are usually non-motile, while food trucks can cover various spots in a day, expanding their numbers of customers. But one drawback of the food truck is the extra cost of their vehicle maintenance.
Tutoring
If one has the experience and tutoring knowledge, they can earn well. The only investment is a small establishment for offline tutoring and a computer set up for online tutoring. Partnering with other tutors who teach other subjects can expand the business to start a coaching centre.
Jam and Pickle Making
Pickles are a mandated requirement for almost every family in India; it is a traditional touch that can cheer any boring food. The pickle making process is very lengthy and laborious, so most of us choose to order them online or buy from grocery stores. Jam business is also developing as not many companies make fresh jams or organic jams. These approaches can build a good business under ₹50,000 and can be done from the comfort of your home.
Wedding Planners or Event Managers
Planning an important day on behalf of others can be interesting and creative. It is a unique idea that needs the planners to be very well and usefully involved in this procedure. It is one of the best business ideas under 50,000. It involves good capital investment, but the profits are also high and give short term profit. Understanding the client’s requirements allows this business to develop and expand well with the right approach. Wedding planning and event management can have many business opportunities like photography, catering, decorations, etc. If the planner can make a perfect group with talented members, it can immensely help the business.
Photography
Photography businesses need creative individuals to grow business. Photography can be of various types like wedding photography, travel photography or nature-based photography. Wedding shoots and party shoots have high demand and high pay. Nature-based photography has high demands for magazines and this type of business can expand only if the acquainted person is creative enough to satisfy the client.
Hand-Made Clothes and Accessories
Hand-made clothes and accessories are gaining popularity and are expensive because they are hand-made. This business can be promoted from the comfort of your home. Hand-made things require low capital investment as the work starts from scratch, but once the product is ready, it has a high market value. Things to consider in this business are full-time work, good raw material, and correct product pricing. This is one of the best businesses under ₹50,000.
YouTube
To start a business under ₹50,000, YouTube can be best if you have a good idea of delivering capacity. YouTube is an online platform that has gained popularity these days. To start a business on YouTube, the investments are only a good quality camera with a mic and good editing tools. It can share experiences about different products, websites, online dealers, etc. It can also share knowledge like cooking, teaching, repairing stuff, etc. It can give good profit if organic viewers are attracted. Apart from the revenue from YouTube, paid videos and promotional products can help too.
Salon
Salon and parlour are necessary for the women to groom themselves and is a business with ₹ 50,000 investments. It requires well-practised staff and infrastructure to support the business. It can be started with a small infrastructure and then expanded accordingly. The salon business will expand quickly if the customers gained are organic. This can only happen if the products used are good for the customer.
Also Read: Successful Small Business Ideas for Indian Entrepreneurs
Sanitisation and Cleaning
Be it hospital or home, the need for sanitisation and clean household has increased. With good equipment and staff, this business can grow and profit. It is the best business under ₹50,000 for the Covid-affected world.
How to Grow a Start-Up Business
Starting a business is a hassle, but maintaining it is more work. Gaining organic customers and working with them can help in growing a business. When customers are devoted to a business, they usually suggest that their friends and relatives support it. To gain these organic customers and their support, the first thing which can be done is to maintain the quality of the product. The quality of the products plays an important role in establishing a business. The pricing of the products should be reasonable with various discounts on different occasions. These tips help in gaining popularity in the business crowd.
Starting a business under ₹50,000 is more about wisely investing capital for effective returns. Any of the businesses mentioned above could grow well and efficiently if the approach from the beginning were right, like good quality, reasonable price, innovative ideas to compete with the competitors and proper investment. Starting a business is never an issue if the person knows how to increase the revenues with innovative ideas. There are many businesses under ₹50,000 which have grown with time to give huge revenue.
A business with ₹50,000 investments can grow efficiently to give results. ₹ 50,000, if invested correctly, can give profit and make people more independent by establishing small businesses. Legaltree blogs can help with creative ideas to develop a successful business.
Conclusion
The introduction of the internet in India has changed the lifestyle. It has impacted us in various ways with the online platform to book tickets, watch shows, a wide range of exposure to learning and practising in our life. This has started a new business trend that does not require capital investment and can introduce the best business under ₹50,000. Because of the internet, small businesses are gaining popularity through online advertisements. The ideas mentioned above within ₹50K can lead to the best business opportunities. The ideas mentioned here are effective and are in trend with the modern world to pace a business.
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