Small business entrepreneurs have many opportunities that can be explored successfully. All good business ideas do not need substantial investment, but definitely require thorough research and profitable marketing plans before initiation. Handling and running a business organisation successfully is a tough job. In fact, according to a report, around 80% of businesses shut down in the first year.
If individuals are planning to start their own business, they need to have a business idea that is on-demand and unique. However, opting for a business idea that can thrive on moderate investment is recommended. Most individuals can apply for an online business loan that is suitable and can effectively help to harness the potential of such business ideas.
Here’s a list of a few profitable minimum investment small business plans that might interest you to proceed further:
- Event planning
Wedding planning never goes out of date. Whether the economy is prospering or going through a crisis, weddings will always take place. According to statistics, the wedding market is slated to grow at a rate of 20% every year. The wedding planning business requires some amount of capital investment initially for logistics, staffs and other arrangements.
- Catering business
Just like a wedding business, catering can never go out of demand. Occasions like birthday parties, weddings, anniversaries will require catering services. This is one business option that requires low investment and offers high returns.
- Coaching/tuition classes
There is always an advantage of teaching online or taking tuitions. Students can save a lot of time and effort if they are conducted online. Especially, given the current situation, one can choose to start an organised tutoring business online. Individuals can start with a small business loan and gradually expand operations over time.
- Fitness business
If an individual is interested in opening a fitness centre can’t afford it, he/she can easily acquire a business loan to fund the purchase of equipment. Gyms and fitness centres make for lucrative business ideas, offering high returns in the form of membership plans.
- Online bakery
If any individual is passionate about baking and is armed with a good oven, he/she can start a bakery shop with low investment. Hence, this business has a huge prospect, since consumers are always seeking good quality and taste at feasible rates. Existing home bakers can expand their business by setting up an online delivery system with the aid of a business loan.
- Stationery shop
Educational institutions require stationery products in bulk. The products include envelopes, letterheads, pen, pencils, receipt books etc. If individuals apply for online business loans to fund setting up a stationery shop, they can cater to nearby schools and businesses and generate high returns.
There are several other business ideas where the investment is low, but the profit generated is quite satisfying. Also, borrowers can apply for an SME loan as it is a perfect option for those willing to up a business or expand their operations.
Instant financial backup for business
Some top NBFCs provide options to finance a small business with funds of up to Rs.45 lakh. Individuals can avail MSME loans without any collateral against a feasible interest rate.
Many financial lenders offer SME loans online. If individuals want to start their own business, they can apply for a small business loan against simple terms of services.
Additionally, NBFCs like Bajaj Finserv also extend pre-approved offers to make availing the funds faster and easier. These offers can be availed on business loans, personal loans, credit cards, etc. Individuals can check their pre-approved offer by submitting name and contact details.
With such benefits and more, these loans are best suited for individuals looking to expand their pre-existing business ventures. If individuals apply for an online business loan, top NBFCs extend repayment’s flexibility to impart accelerated convenience.
