India is the second fastest growing market in Asia and Mumbai is the heart of India because it’s the most populous city. It’s not just the largest city by population, but is the financial and commercial capital of the country as well. Mumbai generates around 6.16% of the total GDP.
The huge population and so much financial activity means more business opportunities. All you need to have a list of business ideas that can work well in cities like Mumbai and sort out the best option for you.
Here in this article, I am going to list some of the best small business ideas that suit best in the economy like Mumbai. Check out the list and find your own opportunity:
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1- Recruitment Firm:
There’s a big opportunity in a big city with so many people looking for job or intending to change job. Starting this small business would require very low investment, but lot of effort.
2- Real Estate Consultant:
With the growing population, the demand on real estate properties is on rise. Starting a real estate consultant business would be a good option. Charging a low commission on the real estate property value which is finalized with the customer can even earn a handsome income.
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3- Groceries Delivery Service:
This is one of the innovative small business idea to start in some posh location, i.e. to deliver the groceries to the door step of the consumer with some additional charge. This is a great idea to start alone, but if you already own a shop, this can double the sales.
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4- Old Book Bank:
Opening a used book store is good idea as most of the students love to save money on books so they go for used ones.
Starting your own blog on anything that interests you most is not just a hobby, but a lucrative business opportunity. This small business idea would cost you very low investment or you can even create a blog /website for free. However you need to spend time every day or several hours a week to become successful in this business.
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6- Event Management:
Event management is a fast growing business, especially in the cities like Mumbai, where the sped up life has made it essential to hire a dedicated team for organizing and managing events, i.e. weddings, birthdays, corporate events etc. If you have good networking and you can move things quickly, i.e. you can organize a successful event, then you could be successful in this small business.
7- Online Trading:
Have you ever tried selling online? If not, you must explore the idea of selling online using the existing platforms like OLX etc.
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8- Become a Trainer of Your Expertise:
This is one of the excellent small business idea for all those who are expert in just any skill. If you cook good, start low cost cooking classes, if you are a painter/photographer/Dancer/Singer/Life Coach/Fitness Expert or just any other type of artist, sell your skill and make money!
9- Online Marketer:
If you are good at online marketing and have experience of making some sites more visible or have built some small business brands already, just start your own online marketing company today!
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10- Interior Designer:
People in the posh areas prefer getting their home and office decorated and designed by experts. So, if you’re the one, why not the leave your job and start your own!
11- Web Designer:
A huge number of small businesses are incorporated daily and they need a good website too. Go online on eLance, Guru and other outsourcing websites and turn your talent into a business today!
12- Web/Mobile App DEevloper:
If you’re a developer with good know how of web and mobile platforms development, you can either start selling your services or else make your own apps.
13- Coaching Center:
Education today is tough and parents want their child to be educated in competitive environment, so they need more than school. That’s where the coaching centers for school students and graduates bring a huge opportunity.
14- Upcycled furniture business:
Lot of people prefer to take upcycled furniture these days.
15- Used Furniture:
Everyday thousands of people buy new furniture and so remove the older one, which gets you the opportunity to buy it, give it a refreshing touch and resell to those who want good items on budget!
16- Selling Plants:
Opening a plant nursery in smaller space is not a big deal and there’s a huge potential for the business if you have some good plants to sell on great prices. The business should suit those more who love nature!
17- Home Painter:
Everyone wants a neat and clean home and so they need painter every year. A single house painting fees can cover your whole months’ expenses keeping it you provide a good service to a bigger house. Having contacts with builders should bring you regular clients!
18- Buying & Selling Used Cars:
This is another emerging business idea especially in fast growing countries where there are several middle-class families who cannot afford to buy new cars. You can buy used cars and sell them at some profit. Even if you do not intend to buy a used car at your own, you can get the buyer and seller meet and charge them your commission.
19- Security Agency:
You can open a security agency where you can provide security guards to offices, schools and apartments. There are good opportunities, however, you need to fulfil the necessary legal requirements for this business.
20- Detective Services:
If your hobby is to do investigations, you can make good income by offering your detective services. There are too many areas of ethical detective services that are much in demand, i.e. Pre-Marital Check, Missing Persons Investigation, Background Investigation, and Real Estate Fraud Investigation.
21- Matrimony Services:
If you have good relationship network, you can open Matrimony consultancy in local area or within city. It can be very good business if you’re very much involved in your network and you love building relationships and families.
22- Beauty & SPA:
It’s not just women who need grooming, but men are equally interested and so there are opportunities of wide range. All you need to figure out is what you can offer that is also in high demand.
Significant disposable income and good purchasing power makes it easier for people in big cities like Mumbai to dine out frequently. A small scale restaurant or a café targeted to a specific or a combination of various cuisines can prove to be a good return on investment. Even if you cannot open a restaurant, starting with take away kiosk should ideally work in almost any busy area of the city.
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Opportunities do not end here and in fact Mumbai has a lot more to offer. The success of any business depends on your market research and effort that you incur in building up the business. Select an idea that you can do best, do your best and success should welcome you!