Starting a business is always the best step towards becoming independent. It not only gives you freedom but also helps you develop your personality. So if you taking the first step, and looking for some of the best business ideas under 10 Lakhs then below is a list of a few businesses that you can opt for.
11 Small Business Ideas Under 10 Lakh Investment
1. A Library that Delivers Books
Starting a library that delivers books is a great idea. If you wish to run it on a large scale, then you can invest in hiring a delivery team. You can also rent a location to run your business, and keep your stock. It is one of the best business ideas under 10 Lakhs if you craft a profit-making business plan.
2. Manufacturing of Scented Sticks
You can start manufacturing scented sticks as it is one of the best small business ideas under 10 Lakh investment. The business is easy to set up with a relatively higher profit margin. You can start by investing in the necessary machines and raw materials.
3. Animation Studio
Starting an animation studio is one of the best small business ideas under 10 Lakh investment if you have the necessary skills and knowledge regarding the business idea. But, if you lack enough skills like animation, writing, or design then you can invest in hiring staff. This business also requires you to have the required technology and equipment. It is one of the high-profited businesses that you can opt for. It is one of the best business to start under 10 lakhs.
4. Online Retail Store for Eco-friendly Products
Starting an online retail store in today’s time is one of the best business ideas under 10 Lakh. You can initiate by selecting an e-commerce platform and then adding your products. Having a well-designed plan before adding the products can prove more profitable. You have to make sure that your store is unique, so you can prove that to your customers by building pages for your online store.
5. Online Shoe Retailing Business
Starting an online shoe retail store is lucrative, and one of the best businesses to start under 10 Lakhs. You can start your business by selling on the best e-commerce platform and manage track shipments, sales, and marketing. You can increase your profit margin by studying the competitiveness, and market to form a proper action plan.
6. Manufacturing LED Lights
You can start manufacturing LED lights as it is one of the most lucrative business ideas under 10 Lakh. Crafting a business plan is one of the most essential steps of this business idea. You can research the types of LED lights to manufacture, and study the cost you will require.
7. Cake Decoration Business
Cake decoration is always best if you are looking for some of the most profitable small business ideas under 10 Lakh investment. Initially, you can start offering your services for free and let people know about your business. Later you can build your brand, and invest in marketing. You can make your business out-stand by offering unique cake designs. It is one of the best business to start under 10 lakhs.
8. Dog Grooming Business
Starting a dog grooming business can be extremely profitable if you invest the right supplies to initiate. It is one of the best businesses to start under 10 Lakhs. If you wish to make the most out of it then you must learn how the dog grooming business works, and later discover the area which has high earning potential.
9. Foreign Language School
Today language plays a very vital role in communication, so the need for foreign language schools has increased. You can start a foreign language school if you are qualified enough to teach a certain language. As an entrepreneur, you must also work on growing your school. You need to find a good location, invest in qualified staff, and marketing your school to earn more money.
10. Sports Shop
Opening a sports shop is a great idea if you are looking for some of the best business ideas under 10 Lakhs. You can attract a larger audience by setting up at the right location. If you want to expand your reach then you can also open an online store to increase the profit margin.
11. Mobile Accessories Shop
Starting a mobile accessories shop is small and one of the best small business ideas under 10 Lakh investment. Before initiating, you must conduct market research to know the ranges of mobile accessories that you will require, and then build a well-designed business plan to execute. It is one of the best business to start under 10 lakhs.
These were some of the best business ideas under 10 lakhs. I hope this list was helpful to you and gave you an idea as well. If you have any other business idea in mind, mention it in the comments.