Best Business Ideas Below 5 Lakhs – You can avail loan up to Rs 10 lakh for starting a new project under the Pradhan Mantri MUDRA Yojana. Under the Startup India program, the Indian government is also providing various benefits to young entrepreneurs.
New Delhi: With job creation in the economy failing to keep up with the pace of new workers entering the economy, it makes sense to start your own business and be independent and have work for others. You can avail loan up to Rs 10 lakh for starting a new project under the Pradhan Mantri MUDRA Yojana. Under the Startup India program, the Indian government is also providing various benefits to young entrepreneurs. Here are 10 business ideas you can start with an investment of up to Rs 5 lakh.
Best Business Ideas Below 5 Lakhs
1. Food trucks: Food trucks/ice cream trucks are very common in western countries but in India they are not popular yet. There is a lot of potential in India because the market is very volatile right now. You can buy a good food truck or a second hand vehicle for under Rs 5 Lakh. A food truck allows you to change your business location based on market dynamics. With a food truck you can have it throughout the day and your income will increase. The monthly earnings from a food truck is between Rs 30, 000- Rs 1 lakh depending on the risk you can take.
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2. 24/7 Food Kiosk: You can rent a small space and open a food kiosk 24/7. Most food joints close before midnight so there is a huge market in any food stall that is open 24/7. it will be very suitable where more students are preparing for competitive exams as most of them sleep before midnight to study and want tea and snacks at midnight . You can also earn a lot of money if you set up a network around an office building that has a lot of night shift workers. You can start with a small place with a basic budget and expand as the income increases.
3. Cleaning services: People are busy these days as the jobs are getting busy. Many people do not take the time to clean their house properly due to lack of time. Apps like Urban Clap have noticed that, and thus offer a variety of cleaning services. You only need some basic cleaning equipment and a small staff to provide cleaning services. You can make special offers for cleaning around Diwali and New Year because people often clean their houses during that time. In the beginning, you can start with simple house cleaning services, and as you grow you can go to bigger facilities and offer office and club cleaning services as well.
4. Uniform: There are many schools in the city, each school has its own uniform. Nowadays some offices have a dress code for employees. Many law and business colleges have dress codes for students. You can buy a shop on lease and start a sewing business. You will need minimum resources and minimum staff and you can run it under Rs 5 Lakh.
5. Tutoring: Nowadays many parents are looking for tutors as both parents are working and they cannot devote much time to their child’s education. To make sure that the child does not slack off when it comes to classwork and homework, parents hire personal tutors or send their children to a tutor. If you have the skills and knowledge, you can provide courses and you need to invest in basic resources such as furniture and room. You can manage all this under Rs 5 Lakh easily and with the passage of time and increasing number of students you can move the classes to a bigger place and hire other instructors.
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6. Musical instrument classes: If you know how to play a musical instrument you can open a small class to teach instruments like guitar, drums, piano etc. Most music classes require students to bring their own musical instruments to learn, which may not be ideal because the instruments are not cheap. You can stand out by providing free materials to students for a period of time for an educational purpose. You can also hire other instructors who can teach other instruments. A basic acoustic guitar costs around Rs 9,000 and a professional drum kit costs around Rs 15,000-20,000. you hire other teachers and buy musical instruments.
7. Fitness center: People want to be fit and healthy but many times bad exercise and bad lifestyle can cause problems. Many people want to join fitness centers but if they are not close or easy to access, people don’t bother. You can open a fitness center with a trainer and some basic gym equipment like treadmill, cross trainer etc. in the beginning. Once your income grows you can invest in other heavy and expensive equipment. You can also add other facilities like Yoga training, aerobics etc.
8. Franchise Store: Opening a franchise store is very beneficial as the brand has established a strong and loyal customer base. You just need to get permission to open a franchise store and then advertise it so people know about it. You can open a small franchise shop under Rs 5 Lakh and expand it over time. Sandstone shop with Rs 3 lakh to Rs 5 lakh investment and both of them are well known across the country.
9. Food: A big food business requires a lot of investment but you can start a food business with a small investment. You can start by offering catering services for small events like small birthday parties, birthday parties etc. You can manage it under 5 lakh as you need very few resources and mostly two cooks. You can be very profitable and you can grow and achieve medium-sized events and eventually move on to bigger projects. Food services are needed year-round to keep you profitable all year round.
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10. Breeding dogs: Many breeds of dogs are very expensive. There are also some types of slats for sale. In the beginning, you should research about the different breeds and see which breeds you can breed in India and get profit by selling them. Once you have all the knowledge, you have to spend money to import some brands that are not available in India, which can cost you about Rs 3 Lakh. You have to take care of the pigs and raise them so that you can breed them in the future. You can start with one variety, and as the product grows you can invest in other profitable varieties. There is a huge market in dog breeding.
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In today’s society, business is something that, if done well, can make you a lot of money. A business idea with ₹5 lakhs investment initially is the biggest part of any venture. Many people have different opinions, but many times they lose the money they deserve. This is the main reason for their failure to start a profitable business.
You have come to the perfect place if you want to start a business under ₹ 5 lakhs. Today, we are going to talk about some successful business ideas under ₹ 5 lakhs that you can start right now.
Choose a niche in which you offer certain things, such as mobile devices. Find things like screen protectors, cartridges, covers, Bluetooth cables, etc. and place them on your website. Register your business, get a GST number, and set up an Amazon store. Amazon can sell to a larger audience.
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You can buy mobile phones, cars, and even jewelry that you import. Nowadays, online shopping is a popular shopping platform where you can store all your items.
If the price is low and the goods are of good quality, more customers will buy them. As a result, there is a lot of money coming in and a lot of profit since it is a business with an investment of ₹ 5 lakh and less.
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