Nowadays, many people are leaving their monotonous 9 to 5 job to start a business that fuels their passion. Retiring at the age of 55 (or older), and regretting about their job decision is not what humans want anymore.
However, some stop chasing their entrepreneurial dream because of a typical mindset that starting a business requires pyramids of notes, which is a false belief. Remember, every great business begins with an idea. If your plan is strong and profitable in the long run, then you will surely make a huge profit in the future. Also, all big companies were developed on the footwork of small scale business plan. For instance, Facebook was started by Mark Zuckerberg in a hostel room at the Harvard University. One thing to keep in mind before starting a small scale business is that, only a strong idea can help you in establishing your business, bringing more and more clients to you and thus, establishing a market for you. Remember the quote cited by Walt Disney- ” If you can dream it, you can achieve it.”
This blog highlights the top 5 successful small scale business ideas that can be started from scratch without costing a fortune. Grab a pen and paper!
1. Food Business:
Food is an essential commodity in our life and that is why this business is sure to survive in the competitive market. According to the investment that suits your pocket, this business can be implemented in two ways-
- Food Trucks–
This business idea is a hot topic among entrepreneurs. Food trucks are always popular because of low investments required. All you have to do is to grab your favorite recipe book along with the ingredients, and hit the road. You can park your truck near local complexes, markets, etc. Standing near a corporate building during lunchtime rush is sure shot to attract many customers. Your food truck should meet some of the ordinances and requirements of the health department.
- Restaurants or Cafes–
People are always striving to find new and exciting food joints and cafes to feed their hunger. If you are willing to put in extra efforts and money then this can be your gateway towards a successful entrepreneurial career. Starting your restaurant/cafe can be an expensive idea, but if the luck worked in your favor, the rewards will be amazing. You can decrease the investment by buying second-hand furniture like tables, chairs, electronic appliances, etc.
2. Travel Agent–
A home-based travel agency is another profitable small scale business that can promise you big revenue growth in the future. The travel industry has witnessed a boom in recent years. With more and more people inclining their interest in traveling to escape the stress and monotonous routine has made this profession as one of the most promising business ideas.
Being a travel agent, you will be responsible for booking flight tickets, hotel accommodation, arranging visas, creating an itinerary, etc. You can tie-up with different hotels, ticket booking agencies, etc. Learn to market your business through websites or publish advertisement on some of the famous traveling blogs. This can be a handy way to reach out to customers. This business works on commission, so make sure that your prices are competitive. If you are stepping into the travel industry for the first time, start by working with big host agencies as a travel agent. This will help you to understand the industry better, and make your networking strong.
3. Wedding Planner–
If you are creative enough and have good management skills, then this small scale business is your match made in heaven. Wedding is an important custom in all the cultures of our society. Thus, people are ready to spend a huge amount of money to make it look like a big fat wedding. All you need to have is an attractive website that is informative and precise. We all know that the best way to connect to your clients is online. Thus, you have to invest primarily on the development of the website. If your friend is a website developer, ask him to develop your website for free (you will save many bucks). During your initial days, you can take help from your friends who can work as a team member for you in managing the wedding function or event. Take small steps towards your goal; you can shape your idea by successfully organizing small events and functions along with building a strong client base. Once you have gained the required experience and have inculcated sharp skills, you can take your first wedding project, obviously you don’t want to create a blunder in your first wedding project.
Matches are made in heaven, how about naming your new business venture “Heaven.”
4. Social Media Marketing–
If you are a techie, then this small scale business idea can deliver you a pay cheque at your doorstep. With a majority of the population connected with social media, companies are ready to spend a huge price for promoting their brands on it. If you know some of the tactics of these platforms, then social media marketing is your thing to do. All you have to do is showcase the digital presence of the company. You are responsible for generating leads, promoting their brand or products, staying connected with the customers in real time, and many more. Facebook, Instagram, Twitter, YouTube, etc., are some of the social media platforms having a huge fan base and customer reach.
Imagine a scenario-
You visit your Facebook account, see a YouTube link of a famous brand offering discounts, you might watch that video to know the process to avail the offer. Then after, you may visit the company’s website to place your order. Moreover, you may tweet to inform your friends about this sale.
If you have successfully imagined the scenario, then you must have understood the importance of social media marketing in the promotion of a company. You can use different digital marketing techniques like SEO (Search Engine Optimization), Pay-Per-Click, etc., for the promotion.
5. Packers And Movers–
World is changing at a fast rate and so is the lifestyle of the people. Be it for better job opportunities, transfer to a different city because of job, or due to any other reason, people are ready to relocate to different places. Relocation has become a part and parcel of our life. All thanks to globalization, due to which this business idea has witnessed tremendous growth in recent years. You will be required to shift furniture, home appliances, vehicles, etc. Before cracking your first deal, you need to register your company. Once you have done it, start the promotion (use social media or business card to spread the word). You will require to have a vehicle to transport the cargo (you can rent it during initial days), quality packaging material (air bubble wrapper are commonly used), and a team of efficient workers. Finding a physical location for your company will help you in winning the trust of your customers. If you are willing to work hard with full determination, then this business idea will definitely help you earn millions.
Reading so far, you must have known some small scale business ideas that requires minimal investment. If you also want to start your entrepreneurial career with negligible funding, then you should choose among the above-listed ideas. But don’t forget to work hard, as hard work and success go hand-in-hand.
Everyone wants to be their own boss. Bored with their monotonous work routine, people have started creating opportunities for themselves in the business world. Some might get lucky to find an angel investor while others kill their dream because they lack funding. This blog highlights the top 5 most successful small scale business idea that requires less investment.
Adam Jackson is associated with Assignment Prime as an
academic writer. He has helped many students by providing them Online assignment help. He has done
his MBA in Marketing. Being an avid reader, he loves reading novels and
listening to music during his leisure time.