Know The 10 Most Profitable Small Business Ideas For 2021

Know The 10 Most Profitable Small Business Ideas For 2021

Initiating your own business can be mesmerizing. And also not following the 9-5 job and making all decisions on your own gives a great feeling and boosts your self confidence. But the main hindrance comes in deciding about the niche of your business. Not everyone can invest a huge amount while beginning their business. But insufficient funds should not be the reason to stop you from your dreams. So here are some of the profitable small business ideas that will allow you to fulfill your dream of a startup. So without any further delay let us have a look at the most profitable small business 2021.

10 Most Profitable Small Business Ideas

Low cost business ideas with high profit are all that we want. And in this pandemic, the world is shifting digital so with that, there come great opportunities to put your mark in the market. So let us see the top 10 profitable small business ideas for 2021 and beyond. 

1. Dropshipping

In our list of best businesses to start with little money, dropshipping is at the top. It is one of the most successful small business ideas for 2021. This is a retail fulfillment process where you can start an online store but without any inventory and so you will not have to invest anything in the inventory and thus can initiate your business with the minimum funds that you have. 

Whenever there is a demand for any product, it is purchased from a third party and is directly sent to the customer through shipping. If we put it in simple terms, you create the need for a product, pass the order to the supplier, he prepares the product and sends it to the customer. Therefore there is no need for you to handle or store any inventory. It saves your money as well as time. 

2. Courier Company

India’s market is currently one of the fastest growing ones. So in this scenario starting a courier company is also one of the most profitable small business ideas. A recent shift in the digital world, specifically the e-commerce industry has given the courier companies a big boost and no time is better than this time to start your courier business. 

Other than starting the company from scratch that may need some big funds, you can consider taking a franchise from any reputed big courier company. There are many such courier companies that are currently offering their franchise at a minimum cost. Besides that, you will be getting access to their technology and infrastructure as well.

3. Online Bakery

This is among the future business ideas 2021 as again the world is shifting digitally. Today people prefer ordering online to going to the shop to buy anything. So the online food business is currently one of the most profitable businesses in India. If baking is what makes you happy then you can start your own online store and share your products. Investment is minimum as you will not have to take a place for your restaurant and café. All that you will need is a good online presence. For that, you have to make a website that will cost you very little. 

4. Online Fashion Boutique

Another most demanding and increasing industry in India is the fashion industry. More people are becoming fashion conscious. A $14 billion growth is expected in India’s fashion trade by the end of 2021. 

To start a fashion boutique you will not have to be a fashion designer. All you need is some love for fashion. You can make money by selling your style sense online. You can open your online store at home and curate various designs that you like and create a brand. Try to be specific about your niche of fashion and you can surely excel in that. 

From dresses to footwear to accessories you can sell everything that is required in fashion. Just ensure the quality of your product should be good. That way you can retain your customers for a long time. 

5. Sell A Service

With a service based business, your only inventory is your time. Along with that you have to be well sound about the skill that is required to provide. 

One of the fastest growing service businesses is digital marketing. All businesses on one side and digital marketing on the other side. It is the reason for all other online businesses to exist. You can open your own digital marketing company and market for other businesses. This is one of the most profitable businesses currently not only in India but across the globe. This is because currently, maximum businesses have turned digital as the audiences are more digitally inclined now. 

So for that the traditional marketing is taking a back turn and the digital marketing is shining as more audiences are now available online and with the digital business you can reach a global audience and with traditional marketing, your reach is constrained within a locality or a country.

6. Handcrafted products

With the advent of the internet and technology, doors have been opened for artisans to earn a living from their works. Unlike retail stores that get their products in bulk and sell at an average price, artisans and craftsmen make them in house and each of their products is uniquely different from each other. So if you are an artist then surely go for this. This is a unique business idea. 

Just like baking is an art, handcrafted goodies are also an art. All you need is an online store to showcase all your products. If someone likes it you make one for them and ship them. There is no huge investment for this as well. All you need is an online presence and a website to show your products. Your products can include paintings, candles, handmade bags, cards, soaps, and many more. 

There are two ways in which you can do so. You can either make a few of your items and start selling or you can take pre-orders. This is yet another profitable home business idea to boost your earning. 

7. Consultant

If you are passionate and knowledgeable about any specific topic or service then this can be your business. Consultants as the name suggests gives consultation regarding any product or service like marketing, human resource, leadership, etc. They charge fees based on every consultation or per hour. This varies from consultant to consultant. This is one of the most trendy and successful business opportunities currently in the market. 

8. Online Teacher

After the pandemic the world has shifted almost digitally. Now there is no better time than now to shift yourself digitally. Online teaching is the new normal. You can start your own teaching center where you can provide your students with various courses and also recorded lectures. If teaching is your passion then success is knocking at your door.

9. App Developer

This is one of the most rapidly growing sectors in every nation. App development has seen a sudden rise after the world slowly got trapped in their smartphones. So all you need is the knowledge of UI and UX and that is it. You can earn from freelancing or even initiate a business of your own. 

10. Cleaning Service

There is another profitable small business idea that is seeing a great acceptance in the market and that is cleaning services and other household services. People are now too busy to do trivial household chores like sofa cleaning, AC cleaning and so. So there comes the need of cleaners who can go to their house and complete the job. One such company will solve all the issues of the people. Other than cleaning services you can also incorporate repairing services as well so that your customer gets everything they need under one roof. 

Conclusion

India is known as the third biggest startup in the world. More than 1300 new start ups that include 10 unicorns were added in 2020. This data portrays the willingness of Indians to start something on their own. With the above mentioned profitable small business ideas you can begin your startup. All that is needed is a great idea for that and if you can execute that well then you will surely be the owner of a successful business.

Frequently Asked Questions On Profitable Small Business Ideas

1. What is the cheapest, most profitable business to start?

If you want to start your own business but are facing a fund crisis, then you can try for Content creation, personal or virtual assistant, event planning services errand/concierge service, professional reviewer, social media consultant, Etsy shop, online courses, and tutoring.

2. What small businesses are in demand?

Small businesses like Social Media Consulting, Senior Care Services, Smart Product Development, Organic Beauty Products, Healthy Fast Food, Healthcare Consulting, Crowdfunding Consulting, Wheelchair Repair are in high demand presently.

3. Which business is best in 2020?

Affiliate marketing, content marketing, blogging, coaching classes, recruitment services, professional photography are some of the businesses which are best for 2020 and beyond.

Yaseer Rashid

Yaseer Rashid got a degree in Journalism and worked as a freelancer. Later he joined News Magnify as a Business and stock writer.

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