When you decide to start your own business, the first question to ask yourself is, what business should I start? The key reason holding you back from starting a new business would be the fear of heavy investment and lack of fruitful ideas.
If you looking for some relatively low-risk business ideas to increase your earning potential, the list below will get you heading in the right direction. The point of this list is to get your creative juices flowing and open your eyes to the possibilities that may already be in front of you, yet you may have never considered.
Professional Consulting Services: This opportunity is for those who have worked previously in the corporate world and/or have undergone the necessary training and certification to advise people on business, financial, technical, health-related, etc. matters. Make sure you clearly display your credentials and your certification on your website and other web-based profiles. Keep in mind that depending on your field you may face plenty of competition. So, be prepared to define how you are different from the rest of the pack and work your connections.
Coaching/Tutoring: Tutoring is one of the most flexible business opportunities for anyone who wants to teach and help students excel. If you were a good student in any subject in your school days or college days, then you can continue your passion by providing home based tuition in the same subject. If you reside in a colony, then the business opportunity will be huge. Your tuition classes might provide relief for many parents, as they don’t have to search a class outside their colony. You can even conduct classes at the students’ home, if it’s suitable to you.
Recruitment Firm: Since the rate of unemployment is going vertical in India, recruitment firms are in huge demand. A recruitment firm would be a good business idea. And such kind of business does not need a huge investment to start with. You need to hire a small office space for rent, good contacts with small and big companies and a proper plan to execute the idea, which altogether will help you to flourish your business.
Event Management: Event Management is another one of the businesses that are in high demand. If you have the capacity to manage things effectively and have good networking ability, then this could be the business for you. Since everything takes place during the event and all the expenses will be borne by the company (or your client), all you need to do is to ensure that the event proceeds smoothly.
Start a Preschool: Opening a preschool is one of the best options for you to start your own business, especially if you love being around children. You can start your own school or buy a franchise of a leading school brand. You can hire your staff with the help of the franchisor, get admissions from the neighborhood homes and easily start your own school.