In India, starting a new business might be challenging. Indians have a history of being sceptical of novel goods and services. In general, Indian consumers like well-known, reputable brands.
However, with a little initiative and creative ideas, you can launch a new company. However, having the necessary knowledge and resources is a requirement before starting a new firm of this nature.
Which do you require?
You must do a lot of research before starting any new company venture. Basically, you will require the following:
- an accurate market analysis of your product or service
- savvy marketing awareness of customer trends.
- A thorough project report is required if you want to use banks, venture capitalists, or crowd financing sources for outside investment.
- Registering your company with the relevant government ministries and departments will ensure its legitimacy.
- a good personnel strategy to guarantee consistency in the quality and delivery of goods and services.
They are still worth a shot, though. Here, we offer such novel business concepts.
1.Getting Moringa Oil
It’s a fresh and successful business concept. Anywhere in India can be used for the extraction of moringa oil. In India, moringa is widely available. It is known as “drumsticks,” and it is frequently cultivated and eaten as a vegetable.
Despite its undeniable health advantages, India has a very limited supply of suppliers for 100% virgin moringa oil, which sells for more than Rs. 1000 per 100 ml. To extract Moringa Oil, you will need an oil press and a lot of dried drumstick seeds.
If you’d like, you can market Moringa Oil under your own name or offer it in large quantities to retailers. Additionally, premium cosmetics and beauty products also use moringa oil.
Byproducts including drumstick waste and oil cake are sold as livestock feed.
2.Supply of Generic Medicines
Medical services in rural India continue to be appalling despite improvements in the country’s healthcare infrastructure. Therefore, doctors in isolated areas are compelled to provide their patients medicine. Patients frequently struggle to pay for expensive prescription medications.
Pharmacy locations are frequently remote from such communities and hamlets. As a result, a lot of generic medications are prescribed. You can start a generic drug and medical product supply to doctors in far-off villages if you have a car.
3.Prepared Funeral Beer
Admittedly, anyone looking to start a business may find this business idea repulsive. But this is a young, extremely profitable firm that just needs a small initial investment. There is only one maker of pre-made funeral urns in India at the moment.
These funeral urns are constructed from wood that sawmills discard. These biers, which are sold in boxes, are simple to put together and have a beautiful appearance. Users merely need to follow the leaflet that is supplied for instructions.
There is no doubt that embroidered clothing is easily accessible in the market. Their patterns, nevertheless, are quite generic and ordinary. There is a sizable market for apparel with customised embroidery.
This entails adding a message or a person’s name in embroidery to clothing. Additionally, you can provide customised embroidery patches based on customer requests. You can start a business by purchasing an embroidery machine or by hiring experienced embroiders.
Low investment is needed for this enterprise. But for this new business concept to be successful, effective marketing is crucial.
5.Farming of fish
Fish farming is yet another enterprise with significant export potential that you may want to think about. If you want to start this business, you’ll need room to build up water tanks. Freshwater fish including murrel, catfish, rohu, mrigal, hilsa, and katla are typically cultivated in tanks.
Additionally, you can incorporate freshwater shrimp species that are always in high demand. Domestic demand for freshwater fish is very large. Additionally, there is a huge market for these fish. Fish from the seas frequently have high amounts of lead and mercury due to marine pollution, which is the cause of this boom.
They have to abide by international requirements for exporting seafood.
6.Consolidation of freight and shipping
With a basic understanding of freight and cargo management, you can start a highly lucrative career in receiving and sending packages. You will need a small space and appropriate packaging materials to start your business.
You will receive parcels from people headed for a variety of locations throughout India. You must combine all packages going to one state or location into one container before giving it to a trucking operator.
Vegetables can be grown aeroponically without soil or water. Instead, you will use air and atmospheric humidity to grow your crops and herbs. In India, aeroponic cultivation of lettuce, cilantro (coriander), spinach, and other green vegetables is uncommon.
According to research, these vegetables have better vitamin content and are free of any hazardous compounds. With some basic tools, an aeroponic farm can be established.
To build up an aeroponic farm, however, you will need enough inside space because the apparatus requires that the plants be suspended in the air with little to no base. To give your product a misty environment, you will also need sprayers and humidity control devices.
8.Agent for Foreign Exchange
In India, small towns and villages frequently lack financial services. There isn’t even a place to exchange currencies. However, foreign travellers, particularly backpackers, are quickly becoming a prominent demographic in these towns and villages.
They travel to these regions to experience rural India and see off-the-beaten-path locations. You may provide a currency exchange service for such travellers. You will need to establish a partnership with a significant foreign exchange in order to do this.
In the tiny Indian state of Goa, this innovative business concept is highly well-liked. especially as many Goa residents work and reside elsewhere.
9.Practitioner of Reiki
Reike is described as “a Japanese technique for stress reduction and relaxation that also promotes healing” on the website www.reike.org. Based on the notion that an invisible “life force energy” flows through us and gives rise to our existence, it is administered by “laying on hands” and is known as reiki.
A person’s “life force energy” determines their ability to be well and happy. If it is low, they are more prone to become ill or experience stress.
The need for such de-stressing therapies is increasing dramatically since the affluent working and business class is stressed out, especially in big cities.
10.Bar of Oxygen
The cost of portable oxygen bars for homes and offices is reasonable, it must be said. Despite this, not many people utilise or patronise them. An entire oxygen bar service can be provided from a small shop or other business location.
You can also provide the service from your home, if there is enough room. When a customer visits an oxygen bar, they inhale oxygen of a medical-grade quality for at least an hour while wearing a mask. Such oxygen has certain built-in health advantages when inhaled.
A client’s daytime exposure to pollutants is also eliminated. This service is especially helpful in congested areas with high levels of air pollution.
Demand is high for this innovative company concept, which requires a moderate investment.
11.Water from Coconuts Bottled
Despite India’s extensive coastline and plenty of coconut palms, bottled coconut water is hard to come by. Interestingly, Thailand has a well-established sector that sells coconut water containing fragments of coconut flesh in cans and bottles despite having a considerably smaller coastline and fewer resources.
The Thailand example demonstrates adequately that technology is readily available to extract and bottle coconut water. Traditional treatments for many illnesses, including kidney stones, include coconut water.
If you are in an Indian coastal state where coconuts are readily available, you can view this as a highly underutilised but lucrative industry.
Different items are sought after by people to beautify their homes. One of the most popular decorative objects for homes and offices is painted pottery, which comes in many shapes and sizes. The initial startup costs for this firm are not very high.
You need to be extremely creative, artistic, and have a keen sense of beauty in order to succeed in this line of work. Large pots to little painted earthen cups are both in high demand. You can design your own products and market them to retailers of home furnishings.
13.Prior to Departure
The concepts we’ve outlined above are out of the ordinary. However, in a nation like India, these new firms appear to have a lot of potential. The younger generation in this country is keen to experiment with novel ideas and thoughts.
Tradition and ideals are very strong here, though. It is strongly advised that you do an independent survey and assess the viability of each of the ventures we present before you start them.
Naturally, some of these concepts call for specific knowledge. Additionally, you will put your valuable resources into the project. Therefore, it is advised that you get counsel from authorities in the area you have chosen.