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Most Profitable Business in India 2022

Updated on :  

08 min read.

India is a growing economy with ample business opportunities. The Indian government is providing immense support to startups and new businesses. Thus, many plan to start a business and become leaders in their chosen fields.

However, before starting a business, an individual should understand the market, industry and competition of the business he/she wishes to establish. There are many business ideas, but here are the top 10 most profitable businesses in India.

1. Cloud Kitchen

Cloud kitchen is also known as a ghost or virtual kitchen. Cloud kitchen means selling food online. It focuses on fulfilling food orders received online and their delivery. It is one of the most profitable business ideas in India. 

There is no requirement to have a commercial place to prepare the food orders received online. Food can be prepared from home, packed and delivered to the customers. It requires low investment as the costs of rent for kitchen space, servers, etc., are saved. All it requires to run a cloud kitchen business is a smartphone and cooking skills.

You can contact online food delivery platforms, such as Swiggy, Zomato, etc., and ask them to place your menu on their apps to receive food orders. When you prepare food on time, you will get more orders. Restaurants may also contact you for online delivery. In India, cloud kitchens are expected to grow above 50% year on year, thus, making it one of the best businesses to start.

2. Website Designing

With the growth of e-commerce, having a website is essential for all businesses. It is an identity for the business and a way to gain more customers. Most vendors and customers check a business’s website before associating with it. Thus, businesses require website designers and developers to maintain their websites and make them attractive with unique designs.

Due to the pandemic, many online businesses have emerged. Online businesses depend on their websites to make profits and sell their products/services. Thus, both offline and online businesses require a website designer. A website designing business does not require much investment. All you need to start this business is a laptop, technical skills, software and creativity.

Due to the high demand for website creation, it is considered as one of the most profitable businesses. As per the report by Adobe, 48% of people stated that website design was the primary factor in determining the credibility of a business. Plus, online shoppers in India are expected to reach around 220 million by 2025. Thus, website designing can be a highly profitable business in India.

3. Travel Agency

India is one of the top-visited countries in the world. India is vast in its area; thus, it has national and international visitors. There are many local visitors also who plan trips inside their respective states. There are many places to visit across the country, resulting in many travellers to India. After the pandemic, the travel business in India has gotten back to normal, with many people visiting India or travelling across states. 

As per the World Travel and Tourism Council (WTTC), India ranks ten out of 185 countries for contribution in tourism to the GDP.  Thus, a travel agency business is a profitable business in India. The travel agency business requires a small budget since most people book trips online through software or website. You can even start this business without having an office and contact your customers and guide them over the phone. However, you need to have a good knowledge of domestic sightseeing, itineraries, hotel rates and flight fares. 

To run a travel agency, you must collaborate with multiple stakeholders, like hospitality and transportation. You can attract customers by giving them a good travel experience and service. You can also offer customised trips to your customers at their convenience to grow your business. You can grow your business by having a better relationship with service providers and low travel costs. 

4. Interior Designing

The interior design market is booming in India. Indian middle class and high class are designing their homes with modular kitchens, lightning, smart furniture, aesthetic decorative items and innovative colour schemes. Thus, designers and design firms have a significant scope to make profits through interior designing business.

Plus, factors like social media influence, smart homes and lifestyle changes have led to a demand for interior designers. Interior decoration and design have become popular in architectural and design firms and social media. This field is witnessing many influencers, particularly on Facebook and Instagram. 

When interior designing is done uniquely and creatively, it could yield good profits with low investments. You do not need much investment to start interior designing as you can do it from home and have an office in future. You only need to have a network to get the design materials at a low cost. As per reports, the interior design and renovation market is estimated to be between USD 20 billion and USD 30 billion in India.

5. Pharmaceutical Business

The pharmaceutical market in India is ever-growing with constant innovation. The pharma sector was not affected by the pandemic. In fact, it was one of the few sectors with high demand during the pandemic. The pharmaceutical sector will never face a loss since medicines are a basic requirement. Thus, it is one of the most profitable business sectors in India.

You can enter the pharma business in more than one way. However, you will need to have the required qualification to run this business, investments and the workforce for research, engineering, manufacturing and procuring raw materials. The pandemic increased the purchase of drugs over the past months. At present, India is reportedly the world’s largest generic drug exporter.

The revenue in the financial year 2020 was USD 55 million, indicating the scope for profit in this business. However, the pharma industry is highly competitive, with a large workforce including engineers and scientists, entrepreneurs and businessmen who are a part of the distribution process.

6. Event Management

In India, people celebrate all types of events, either on a small scale or a grand scale. Many events, such as baby showers, birthdays, weddings, store openings, product launches, etc., require an event manager. People have started to go out, and events are being held without any restrictions. Thus, even though the event management business faced a loss during the pandemic, the demand for event management has resumed.

The event host will not have time to arrange all aspects of the event, such as flower decoration, food preparation, creating a menu, photography, etc. Thus, they will hire an event manager or event management company to take care of the preparations. You can start an event management business without an office as you can discuss the event preparations with your clients at your home or their homes. However, you will require communication skills, workforce and contact with vendors to arrange for the events. 

You need to be prepared to be on your feet to run this business since you will have to check out venues and have meetings with vendors. You also require networking and managing skills. The success of your depends on the brand image and reputation, which can be built through online marketing strategies.

7. Online Classes

Online coaching classes are one of the most cost-effective and profitable businesses in India. An online coaching class need not be a tutoring class for school and college students in a subject of your expertise. It can be in any field of your expertise, such as dance, singing, photography, cooking, baking, painting, yoga, etc. They are an excellent business option with huge profits and broader market reach.

You do not need huge investments to start an online class. You need a good internet connection, space and time to conduct the class. You also require expertise in the subject or field to conduct the class. You can take classes on video platforms like Google Meet and Zoom. The pandemic has also helped online classes earn profits as teaching has transitioned from offline to online.

You can advertise your classes on social media or through word-of-mouth recommendations to get more students. You can also customise your online classes’ timing as per the student’s convenience and keep it flexible to earn more profits. It also saves the time and cost of commuting to the class. Thus, making the online coaching business an ever-growing field in India.

8. Placement and Hiring Service

The placement and hiring service is in demand nowadays. Since the pandemic and the economic slowdown, many have lost their jobs and are changing jobs. The placement services business helps job seekers find the right jobs and help them to get placed in companies. The job seeker shares their resume and the job they want with the placement services company. The company helps them find a related job and charges a fee for the same.

Your placement services company should have contact with companies to place job seekers. Thus, make public relations and have contact with companies and job seekers. You can contact companies and ask them to call you when they need placement. Many companies also approach the placement services business and ask for candidates when required.

Human Resource (HR) is an integral part of an organisation, and good recruitment helps a company grow. However, you must plan the market strategies to build contact with companies. You can do social media marketing through regular posts or create your company website. Thus, having tie-ups with companies and placing good employees with them makes this business a low-cost and profitable business.

9. Real Estate

Due to booming globalisation and rationalisation and the rise in companies in all cities, many people are searching for a good property to settle in. Thus, real estate companies have gained importance. The agents of a real estate company showcase properties or flats for sale and rent to clients. They earn a commission when the clients purchase or take rent of these properties or flats. You can earn a 2% to 6% commission on the property value or rented amount.

However, the real estate business requires a lot of capital for high returns. You need to have convincing skills to sell the property. You need to have an office and knowledge of properties and their documentation process. Impressive communication skills will help your business grow. A survey forecasts that real estate in India is expected to reach USD 1 trillion market size by 2030 from USD 120 billion in 2017 and contribute 13% of the GDP.

10. Cleaning Services

People do not have time to clean their homes due to a modern and fast-paced life. There is high demand for trustworthy maids and cleaning services in the cities. You can start a cleaning service business, tie up with flats and provide trustworthy maids to residents of an area. You may also offer to clean commercial establishments such as shops, stores, small offices, etc.

You need not have an office to start this business. You can start it yourself and single-handedly clean homes and commercial establishments. As your business grows, you can employ maids who will clean houses. You will require housekeeping skills, mops, brooms, and cleaning materials. You can advertise your business on social media platforms to increase your reach. You will receive more clients when you offer professional services, and your business will profit.

Disclaimer: The materials provided herein are solely for information purposes. No attorney-client relationship is created when you access or use the site or the materials. The information presented on this site does not constitute legal or professional advice and should not be relied upon for such purposes or used as a substitute for legal advice from an attorney licensed in your state.

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