Business Ideas Under ₹ 5 Lakhs in 2023: We are living in that era where most of the income are coming from Business. If you can implement and your business properly then you can income a lot of money.
The main aspect of a business is the planning of business and capital for investment. There are lots of people who are coming with different business ideas but don’t have sufficient amount of capital. For this reason, they unable to establish business successfully.
In business you have complete authority to operate your own ideas rather than following others’ orders. If you have any intention to start business under ₹ 5 lakhs, then you are visiting the right place.
Here we discuss about some business ideas which you can start under the investment of ₹ 5 lakhs.
Recently, inflation makes an impact in our daily life i.e. food, education, healthcare, transportation, housing and other part of our life also. Being unable to run our house comfortably, we are finding other way to increase our income.
It is better to start a home based, micro, small or medium organization to fulfil our needs and earn a decent amount. You can start a business of your own.
Also Read: How to Start a Business in India?
Requirements
To start own business is a very good matter but it requires a detail planning, research and execution. Below are the requirements which makes you a successful entrepreneur.
- Sufficient skills in a specified sector.
- Should have passion to improve the quality of service and product.
- Financial support to start the business.
- Ability to face all ups and downs till its providing a decent money.
- Need sufficient funding in the form of saving, family and friends, ventures capitals or bank loans etc.
- Issue proper licence from government authority to get a legitimacy of our own business.
If you have the above with entrepreneurial spirit, then you can go ahead and start a business in various fields like online or from home depends on the type of your venture.
Best Business Ideas Under 5 Lakhs
We have categorized some business according to their budget under which, there are online, home, micro and small businesses.
Low Investment Online Business Ideas
1. Online Home Business
You can start online business easily. You can do almost all types of business here without investment. The thing you should start training.
2. Data Entry / Content Writing
There are many websites which hire content writers such as Upwork, Elance, etc. You will be provided a project and must be submit it within given time.
Data Entry is another option that you can start. For this, you should contact a company and take projects who often hires outside organization to complete certain works.
3. Web Designing and Coding
Through Web Designing and coding you can work on various software application of IT sector. You can start small scale with the investment of ₹ 10,000.
To start this business, you have to get knowledge about of web designing, HTML, PHP, CSS, WordPress, etc. and create qualitative presentation to your clients. You can attract your customers in various ways towards your business.
4. SEO Services
The people who wants to work with websites and blogs can earn ₹ 50000 to ₹ 1 Lac monthly. You can take training or do practical in some famous SEO company. After training, you are able to provide services to media marketing, SEM, etc.
5. Amazon, eBay & Flipkart Seller
You can sell different types of items or products in different sites such as Amazon, Flipkart, Snapdeal, eBay etc.
Research market on different products and understand which are in high demand or make a list of product that you can buy in cheap and sell the same product in good profit of margin on different sites.
You can become a seller in these sites and sell the items you want. The process is very easy and simple but initially you need to give some extra efforts to be familiar with the process. It takes minimum of ₹ 10,000 investments.
6. Make YouTube Videos
Recently millions of people make YouTube videos on different topics and earn decent money. Through this platform you can earn money as well as become famous.
You can start this business by just following 3 simple steps-
- Make Videos.
- Do Signup and upload the videos on YouTube.
- Join YouTube partner programme & start your income.
7. eBook Writer and Podcasting
The person who have passion about writing and to do publish but not getting any opportunity or publishers then you think about writing eBook. By publishing it online you can earn money. The price will be set you and able sell it online. You will get all the technical details online.
8. Online Tutorial and Consultation
It is an option to do online tutorial through Skype rather than offline. You will get payment in every session after you conduct that session. Gradually, you can become a consultant online and make it your full time profession.
Related Post: Best Manufacturing Business Ideas in 2023
Business ideas with the investment of ₹ 5000
1. Tiffin Service
Start a business at street-side of tiffin and snack services is a good and cheap business idea. The items included in your menu list are idli, dosa, omelette, boiled eggs, buns with butter and jam, tea coffee, etc.
2. Handyman
Handyman is a service in which you can offer the service of plethora like electrical repairs, plumbing, plastering, painting and many more. In this services, you may provide services such as deposit cheques in banks or stand in the queues for other persons or customers.
3. Caregiver in Hospitals
If you have fundamental skills to handle the sick, physically disabled and elderly people then hospital caregiver can be a suitable business for you. You will get calls from nurses and ward boys when they require your help or services. Normally, you can earn ₹ 500 to ₹ 1000 per shift per hour.
4. Real Estate Agent
To involved in this profession, you must have a mobile phone and a good contact network. You should aware of that people who wants to buy, sell, or lease their assets like homes or offices.
If you want to make it larger, you can install an office. In this business you can earn up to ₹ 50,000.
Business ideas with the investment of ₹ 10000
1. Sweets and savouries, Homemade
Most of the Indian people likes homemade sweets and savouries, and have a good market for it. You should have knowledge of some items on sweets, savouries in small quantities and deliver it door-to-door to avoid licensing procedures.
Women are ideal for this business who want to earn money from home. You may get orders from local stores.
2. Pickles, Jams and Sauces
In ₹ 10,000 investments, you can start a good business of pickles, jams and sauces in your home. To start this business, you should have some experience in this area.
Nowadays people are conscious about health and avoid to produce pickles, jams and sauces in mass which may cause extra ingestion of chemicals as artificial colors, flavours and preservatives.
3. Repairing store of Mobile phone
India has a very good market of mobile users and have around 750 million. Through this statistic you can understand that you have a good scope in this area.
You should have done some courses in repairing mobile phones in different reputed institutions and in some organization training is given free.
Simultaneously, you can provide services like credit recharges, fixing protective screens, selling mobile accessories like headset, mobile covers, electrical chargers, etc.
4. Jewelry with Beadwork
Young female and male both are using beadwork jewelry such as necklaces and bracelets. New and customized designs of jewelry is always in the high demand.
You can make bead jewelry simply, buy needed equipment online from popular sites like Amazon, Flipkart etc. As many of the young you can avail in colleges, schools, so target this area first and then try in local stores, door to door services.
You can also do business in sites like Amazon and Flipkart.
5. Powders of Spices
Making of spice powder is a business idea that you can start with the investment of ₹ 10,000. There are many commercial brands who compete each other day by day.
But, there are many customers who are using home-made spices powders. They buy it in small quantities on a regular basis as they wanted ensure that they are getting fresh stuff.
6. Make Paper Bags
The demand of paper bags in recent time gradually increasing as people or government become aware of the fact that plastic bags are causing damage to our environment. So, most of the retail stores do no provide anything in plastic bags and use paper bags instead.
Paper bag business can be start with the investment of ₹ 10,000. The required raw materials are scrap newspapers, scissors, good quality glue and ropes.
7. Business of Decorative Pottery
As we are now very much conscious about environment, people are shifting towards natural, eco-friendly material such as wood, mud, stones, bamboo etc. You can transform your creativity skills into your work and make eco-friendly decorative pottery at you own home.
You don’t need to make clay or earthen pots of your own. You may buy pots as you needed and do designs of your own. You will get orders from different organizations, individuals and you can also sell it door to door.
Business ideas with the investment of ₹ 10000 – ₹ 25000
1. Stock/Forex Trading
If you have good knowledge about share market, then you can start trading of Stock or Forex market. You should have trading account with a sub-broker and can start your trading by buying and selling stocks.
If you have enough knowledge in this area, then you can make profit though the price of stocks falls.
2. An Agent in Insurance Company
Different private agencies, state-owned insurer, and also Life Insurance Corporation of India hire many agents to sell their policies to the people. To be an agent of this kind of insurance companies, you just need a computer, a two-wheeler and some capital for investment. You can sell better plan of policies to get a decent commission.
3. Provide Coaching Classes
There are some streams or courses where the demand of professionals is very high such as engineering, medicine, law and other specialized fields. They can plan to earn more money and make it a full time profession. You need very low investment around ₹ 25,000 to arrange stuff, foldable chairs and tables.
4. Electrical maintenance
Invest around ₹ 25,000 and avail required tools and equipment. Contract with an experienced electrician who is always available for you whenever required. Here, you have to maintain electrical connections in homes, organizations, office or apartments. There are some organizations that hire and make a contract, if your quality of work is good.
5. Plumbing services
It is a good business idea and you don’t need to involve directly into the plumbing services. You just invest some fund and spent it to buy required tools and equipment. To execute various operations, hire a well skilled person.
In plumbing section, most of the work involves is to maintain and reconstruct old water pipelines, taps and other related work. First of all, you have to make payment for this, thereafter you will get the fund return after billing to the customers.
Business ideas with the investment of ₹ 25,000 – ₹ 50,000
1. Tiffin Services
Day by day people are getting more involved with their work and they don’t have enough time to prepare tiffin for them. So, they are more depends on the outsource meals who provide deliver meals to their home. In India, this type of services is popularly known as ‘Tiffin service’.
Your investment in this business is for cooking utensils, foodstuff, packaging material or steel meal boxes. Other than this, you have to invest to buy a bicycle or two-wheeler to deliver foods to its customers.
2. Incense sticks or Agarbatti
In India, especially in southern area, state like Karnataka is famous for manufacturing and supplier of world class incense sticks or ‘Agarbatti’.
You can also start a business of manufacturing incense sticks with very low investment around ₹ 50,000. Research the market which type of incense sticks has large demand and invest your money accordingly. In this field, main investment is needed for labour.
3. Supply Fresh Vegetable Juices
Nowadays, people whether in urban area or rural area are concern about their health. Many are also suggested to take fresh vegetable juices and included it in their regular diet.
There are some fresh vegetable juices that are very useful for our health are cucumber, carrot, beetroot, celery, parsley, cilantro, capsicum, broccoli etc. You can start this business as made-to-order or you may deliver it to homes.
4. Health drinks
This is another on demand business which you can start only within ₹ 50,000. Invest to get required machine and equipment within your budget. Preparation of juices from herbs, leaves, roots and fruits that are useful for curative. You can sell it at gyms, spas, jogger parks and also in the recreational areas. But, you have to be careful that the juices should be served fresh.
5. Air-conditioner and refrigerator maintenance
In this business, your investment is only for required equipment that is essential for maintaining and repairing air conditioners and refrigerators. You need to find and hire a skilled mechanics to provide services for air conditioner and refrigerator who will provide his services as paid on work basis.
6. Business idea of preparing Idli & dosa batters
Idli and dosa batters are the two south Indian food item that are now famous all over the India. One can prepare new items by mixing the ground grains and cereals which is testier as usual idli and dosa.
You need to invest to buy a high powered blender, packing material and other equipment. You can start a business of selling idli and dosa in just ₹ 50,000 only.
Business ideas with the investment of ₹ 50,000 – ₹ 100,000
1. Mobile Garage
To launch a mobile garage, you should have a car and required tools to repair vehicles. People facing technical nog and ceases on road will contact you to repair their vehicles. You must have proper knowledge about car engines and electrical gear on board.
2. Vegan ice-creams
In India, there is a huge demand of Vegan ice-cream that are made up of coconut milk and soy milk. There are many people who avoid taking dairy products and shift towards Vegan ice-creams. You have to invest of around ₹ 80,000 for a small and portable vegan smoothie and ₹ 10,000 for raw materials.
3. Aquarium and decorative fish
To sell Aquarium and decorative fish is a good and unique business idea. Demand of this items is throughout the year and is an evergreen business. The main purpose of these items is to decorate homes, offices or given to a person as gift. Before starting this business, you should have good understanding how these are to be handled.
4. Mushroom Harvesting
You can launch this business with only around ₹ 100,000. If you are from rural areas, then it will be a good idea for you to start this type of business. To start this business, get required items such as separate room, wooden crates, mushroom spores, water sprayers. This is a good attractive business in some of the Indian states.
5. Florist Business Idea
Explore your innovative ideas by using your creative skill to prepare floral bouquets. These are looking attractive and unique design make them special and given in wedding and other programmes as gift.
As programmes and celebration are very frequent throughout the year so the demand is very high of this items. Your investment is only to arrange essential equipment that is used to keep flowers fresh and become wither.
6. Imported Products
There are many Indians who went for holiday, seamen in foreign countries and collect some attractive foreign stuff as well as many foreigners come in India as tourists and sell them to the local people in Indian currency.
The items include T-shirts, fragrances and cosmetics, chocolates, cigarettes and liquor many more things. Many Indians buy these foreign items in good amount as their hobby so, it will be a great idea for you have a collection of these item and sell it to the eager person.
Business ideas with the investment of ₹ 100,000 – ₹ 500,000
1. CCTV Cameras Business
CCTV cameras was first used banking and commercial sectors but in recent time it is used in almost in everywhere. There are some households who also use CCTV cameras in their premises.
It is very easy to install such type of business and equipment are easily available in the market. You just need to hire skilled employee to install these equipment according to the requirement of customers. You can start this business by investing funds within 5 lakhs.
2. DTH Agency
In India, there are many businessmen who provide Direct-To-Home satellite TV and you can join this venture and earn a decent profit from here. You need DTH equipment, satellite TV dish, transponder and set top box.
You can earn money by installing this equipment as per order made by customers. You must join a reputed service provider and open market. You must also have some coaxial cables and signal strength gauges.
3. Supplying Generic Medicines
Country like India where most of the people live in the rural area. In rural areas, there is no pharmacies available in their locality. For this reason, doctors play the role to dispense medicine in the rural areas.
You can supply the generic medicine to these remote areas and earn huge profit. Get required generic medicine in cheap rate and sell it to the doctors working in the remote rural areas with an optimum profit.
4. Pathological Laboratory
There is some course available for the students who wants to pursue their career in pathological laboratory. Students completed their graduation in microbiology can also eligible to start set up a Pathological laboratory.
Initially, you have to make an investment of around ₹ 500,000 but once you start getting work, then you will make lots of money from it. You need some equipment to set up this business like microscopes, centrifuges, chemicals and reagents and these are some costly equipment you have to invest on.
5. Accommodation services
As India is a vast country, so well skilled, white-collar professionals migrated to from the one part of the country to the other parts especially in metro cities in search of job. A huge number of people need proper accommodation service as rent or paying guest.
If you have sufficient budget, then you can take some apartments as rent, decorate them properly and offer these apartments on rent on per bed. This a very profitable business with almost no-risk.
Related Post: Best Agriculture Business Ideas in 2023
Conclusion
Hopefully, this post will help those people who want to start a new business. Here you can find the best business ideas under ₹ 5 lakhs. If you like this post then share it with your friends, family, relatives who want to get an idea to start a new business. For more posts like this follow this website. Also, you can find us on Facebook and Twitter.