Describe the slope of small business in india.
Answers
Explanation:
1. Meal Services
Venturing into the food industry has been profitable for ages. Statistics show that food businesses enjoy gross margins of 50 percent or above.
And Tiffin services are in high-demand due to various factors including lack of service providers, poor quality food by current suppliers and lack of variety in taste.
Tiffin startups like FoodAbhi, iTiffin and some more had raised fundings in the past. The unorganized food industry in India stands at $360 billion holding a lot of opportunities.
And the most important thing is that it is one of the leading small business ideas from home. You can just avail the business opportunity by buying the kitchen equipment, a bicycle for delivery, and raw materials for cooking.
Meal services to corporates can be a good small business idea in India for women. As employees migrate from various cities and crave for home cook healthy and tasty food.
Minimum Investment – ₹50,000 initially
Space Required – Home-based to start off
Location Preference – Near student hostels, corporate apartments and offices.
Marketing Requirement – Traditional including Word of Mouth, Door to Door, Hoarding, Flyers & Posters.
2. Street Food Joint
As earlier mentioned, unorganized food sector in India has strong demands for small players to cover the unmatched demand growing day by day.
You must have noticed how those small breakfast joints in your area are almost filled with customers.
If you walk around Old Delhi, you can find a lot of street food vendors earning lots of money with monthly revenue of more than ₹1 lakh.
To open up your own breakfast joint, you need to invest money in renting a space for it, after having received a permit for it from the respective authorities.
If your rent is within Rs 5000 a month (you can get a good space in tier 2 cities in this range), you can dedicate the rest of your budget on buying groceries and other raw materials.
As for furniture, second-hand tables and chairs can be bought to meet the demands. Interior decoration should be decent and you can do it all by yourself. Keep in mind, the secret behind a successful food joint is in the order: Hygiene and Taste.
Minimum Investment – ₹20,000 initially
Space Required – 80-100 sq. ft.
Location Preference – Front Facing shop in student or corporate areas.
Marketing Requirement – Traditional including Word of Mouth, Flyers & Posters.