Small business ideas are those which can be started with low investment and in limited scale. These business ideas are good for those who lack some source of employment and have ability to avail personal loans.
One can make good amount of money through business but not through employment or job. So those who are in employment and are not satisfied with their income can think of going into some business.
Small businesses are available at 3 levels i.e. retail level, whole sale and also at manufacturing levels. It is up to the person to decide in which type he fits and can make good business.
So those who are willing to earn more money or have some sort of income, small business is a best option.
There are many best small business ideas but all of them have heavy competition in the market but, still one can succeed with hard work and smart tactics.
♦ Which requires low investment capital to start up.
♦ long term income source.
♦ the one which is dependent on physical products and not virtual things (online types)
♦ lasts long and is easier to make money.
♦ Products with demand in all seasons.
♦ Have chances of expansion.
♦ low maintenance less labor requirement especially non-technical..
♦ Sufficient demand in market.
♦ Suitable to start in any region or market.
Small business can grow big if one can build a brand name and win trust of customers. So lets see small business ideas
Small business ideas- 3 Types
1. Direct sales/retail business
2. Middle man/ dealer business
3. Manufacture & production
4. Online sales
Direct sales/retail Small business ideas:
Direct sales or retail shop is best option for anyone to start some business. These businesses directly sell products or services to customers. These are comparatively low investment and less risky options. They are of many categories like ♠ General stores
♠ Medical stores
♠ Grocery store
♠ Jewelry store
♠ Ready-made garments
♠ Mobile & electronic gadgets
♠ Iron marts
♠ Furniture store
♠ Building material sales
♠ Seeds & Fertilizers
♠ Automobile showroom
♠ Hotel/fast food
♠ Books & store
♠ Beauty products etc.
One can open a shop with any of the above products for direct sale/service to customers at suitable place.
Franchise business: This a business model wherein there is a well established brand and you just market their products with the same brand name in your place by taking their license. Franchise business is one of the least risk option as you have nothing to worry about product quality, brand popularity etc. You just need a suitable place, investment to put a shop and sell the products. So it can also be a side business idea which requires small investment to run for long time.
Whole sales/dealerships as Small business ideas:
These are intermediate between direct/retail sales and manufacturers. They are not directly involved with customers. They distribute a specific category of goods to the retailers.
The margins are low compared to what a retailer gets in sale of products. But since they dispense large quantity of products to retailers, their income is quite high.
They involve lot of work in terms of maintenance of accounts & records, collection of money from retailers and also to revoke any unsold products from retailers to return back to the manufacturer. They also need to be alert to maintain stock by receiving it from manufacturers. Some examples include:
♠ Egg whole sale.
♠ Medicine whole sale
♠ Under garments
♠ Plastic bags.
Manufacture or production ideas:
These are a bit higher level small business ideas. They involve more investment, labor and also risk compared to above types of businesses.
But they have advantage of easy expansion if one can build a brand name and trust among customers. This is not possible in above two types. If one establishes a dairy business and earns good name & fame for quality of product then he one produce more of the product to sell in other cities or even states or countries.
So expansion chances are more and small business idea can turn out into a large scale business. Examples of small business ideas with production include
♠ Edible oil
♠ Brick manufacture Horticulture
♠ Fast food center.
♠ Cement Bricks.
Online sales: Online shopping has huge potential with minimal investment. You can opt to be seller on Amazon and display few products for sale. Since amazon is huge market place, you can easily get customers on long term basis. Just competitive pricing can help overcome your competitors on online sale.