"What do you need to start a business? Three simple things: know your products/services better than anyone, know your customer, and have a burning desire to succeed."
- Dave Thomas, Founder, Wendy's
It is widely said that coming up with an idea for the business is easy but to execute it is tough. But, wait, everything is difficult until someone proves it.
The business today is all about ‘Let’s Talk Digital’. The reason is not just pandemic but the number of internet users increasing every minute. Your start-up needs to be updated as the era is. Everyone is online and start-up needs to be too. There are many ways to start a business but not able to reach customers shouldn’t an issue at all.
We listed down few business ideas that have proved to be a great example of them in a quick time. These start-up ideas have emerged to get the client’s from worldwide. And it still has a lot of potentials yet to grow.
Many people wish to have a side business that grows and earns them revenue. So, before you begin make sure you are interested and are well planned. Considering the need we have listed low-investment business start-up ideas.
Considering the demand and need of the situation, online education is the new normal. It is a great futuristic approach mixed with technology today.
Each business was facing a disaster and adjusting to the pandemic situation; Edutech businesses took a triumph jump and proved to be the greatest idea. It grabbed the spotlight and is guaranteed to grow more in the coming days.
Udemy, Unacademy, Testbook, Awign Enterprises, Practicality, Examarly are few examples of Edutech start-ups. These start-ups focused on what is important and integrated the futuristic approach to it. After which, their worth is in millions today.
The Edutech start of yours could focus on a variety of courses. The Edutech start is easy today several platforms offer an opportunity like online tutoring and expanding it to live courses with resource materials.
Your start-up could have any USP like offering core skill-based courses for children or adults, technology-based courses, focusing on the preparation of government exams, train beginners and experienced professionals in terms of auditing, management, entrepreneurship, and much more.
With the pandemic the audience has become aware, the content of learning has taken a tremendous change. So, decide what would you offer – Upskilling courses, educational courses for children, emotional intelligence building, or anything you think is needed.
Edutech is strategized better could be an intensive revenue-building start-up in the coming future more than it is today.
2. Personal Finance
Finance. Everyone who owns mobile lets the earning is less or huge want to grow. The point is anyone earning wants to grow their money. Millennials and GenZ are emerging to seize the opportunity.
Money management is something everyone looks for but is not satisfied with. Zerodha, Groww, Mobills, Yolt have turned the tables. One of these apps is guaranteed to be found on the mobile of everyone.
Gone are the days' people were concerned with banking growth offers of Fixed deposits, Recurring deposits, and so on. Today, the stock market, mutual funds insurance, bitcoins are growing efficiently. Everyone today is after knowing about finance, growing it, and smart investment techniques.
For a personal finance start-up, you must know who you are targeting, deciding on the amount of information one would need, being specific, and providing consultancies before one starts. Millennials, GenZ who are excited and exploring the whole finance management holds a lot of potentials to grow your business.
Finance has a huge market existence if you know it starts with it.
3. Cloud Kitchen
The online food industry has grown in billions without investing instead bringing the buyer and seller together. They found the potential in the loop that was created. People with new protocols and new normal have got comfortable ordering food home. This gave rise to a cloud kitchen.
Also, known as Ghost kitchen has offered job opportunities to many. You can either start following your passion for cooking by getting into the cloud kitchen or just build an app that solves the connectivity and builds great communication.
Cloud kitchen is nothing new but has emerged as a great start-up idea in the pandemic. Collaborating with food delivery firms it is one of the most profound business. The audience is everyone. Food is life. And, considering the scene today you have whole control over who your audience could be, what you wish to promote. It is area-based but holds a lot of potentials.
Other options related to cloud kitchen are,
- Renting kitchen space
- Food truck
- Shared kitchen management
- Building software to help buyer and sellers communicate seamlessly
4. Payment Processor
Every explored a website and got stuck with the time-taking payment procedure? Probably you left the product and searched for a better payment procedure. Well, this problem is solved by Razorpay, a start-up that made checkout easy and quick.
The reason that it grew fast is that there is a need for it. A good payment procedure helps with a quick conversion rate for the client. Thus, payment procedure being a conversion funnel becomes essential. The client of this tool is not just in India but abroad.
Mobile app development is at its peak with every business turning to be a brand. And this takes one into a good seamless payment page. Online transaction is the new normal and it could be integrated with so many sites. Are you the one who can provide a seamless, effortless, and quick but safe mode of transaction processor? Then, go start building the world that needs it. The client would be ranging from small business owners of India to big companies abroad.
Every business requires accurate – revenue recognition, reconciling accounts, recording financial transactions, and preparing financial statements. Prime companies today outsource these facilities provided to their clients.
Bookkeeping is a huge task for businesses today. The client of outsourcing bookkeeping includes the healthcare industry in the majority. The bookkeeping solves the areas like Payroll management, Customer care services, error-free services, better Hr services, and many more. Any prime firm with a huge team always looks for outsourcing Bookkeeping services.
You can build a team train them with a specific skill and outsource it. A very generic and demanded service that has been availed by many firms and is surely not stopping any soon.
Look for every service that can be outsourced- you can even either provide a team or help them connect.
6. App development
As said previously the world is about being accessible. And, given that website building and mobile app development is in great demand. Start-ups search for firms and freelancers that help them with mobile app development services.
At Pietech Solution, one gets to book a free consultancy to know about the targets, goal, audience expectation, and every technological aspect so the product is refined. It is one of the fastest-growing mobile apps developing.
Restaurants, shops, cloud kitchens, bookkeeping outsource personal finance every business needs to be accessible. It has to reach its client and the mobile app makes it easy and quick. you can provide readymade apps for a free trial and free usage and optimize them accordingly. Being a good mobile app developing company you get to be as futuristic as possible to retain clients and keep up the scale of revenue coming.
7. ORganic Agriculture Farms
A neglected area is an agriculture. Many well-read people have understood the loop and made the agriculture firms worth million. One can provide farmers with counseling sessions, rent machines, and even help them with farming techniques.
The agriculture farming start-up is important as the audience is everyone, everyone! One can rent farms for farming and enjoy the benefits. Agriculture farming start-ups are doing great worldwide. Look closely through the loophole and start solving it. The market for the agriculture business is huge and will help you earn great revenue and profit.
8. Food/Grocery Delivery
Start-ups like Zomato, Swiggy, Grofers are well known today. Why? They got into the futuristic approach and guess what their worth is today? And what several employees they own. The answer will go in Billion USD and thousands, respectively. And, this still is not enough to conquer every place. This is truly a great opportunity for entrepreneurs today.
One could either go with an aggregate business model or choose any depending on the choice. Food delivery app and grocery delivery app is the essential commodity. The growth of these businesses will never out of business. You can target any area and build your brand and go on with franchise creation. Online food delivery or grocery delivery is a great start-up opportunity for you to begin.
9. Online Healthcare
Yes! Healthcare has to go online. Practo, Pharmacy, Medicare are few names to name. These apps connect sellers to buyers and connect patients with doctors. It also provides consultancy with doctors from around the nation.
Considering the current scenario providing healthcare consultancy, door service of medicine is a relief. Start-ups can look for providing services to pregnant women, elder people, and everyone who can’t afford the right service because of the pandemic. Now even for first consultant you can start video/virtual meeting with doctor to have a look for the patient then only they will suggest, is it necessary to come and meet physically or admit to the hospital. This process have been saving the lot of time and engery for both Doctors and patients.
10. Content Curation
Content is king and will remain always. There are agencies like Pepper Content, Livefyre, Fiverr are start-ups that provide a definite direction to the content. Today everyone wants engagement that occurs through content creation that adds value.
You can be a platform to either connect both content creators and buyers. Content creation is important with SEO, Organic traffic, branding , and conversion, include not just content but market it and retain every client. Content is a water for your firm just like a tree require a water in regular basis to survive. So if you have the idea of content that helps your end users then keep creating a content on regualr basis to make yourself/business brand.
Business today is all about looking for the gap and solving it. Your start-up should focus on solving the problem. Whether you choose any of the mentioned business ideas or not. The idea should be to putting out the best services and giving the best user experience to let potential customers find you.
Before you choose any business idea ask yourself few questions as – Are you interested? Do proper research about the aspect of business and how to begin, audience, and competitors. Build a great team and don’t let anyone's failure stoop you and any milestone distract you.