If you are reading this article, you have most likely thought of starting a small business of your own and become your own boss. However, just the desire to start a business will not suffice. Running a business takes a lot of dedication and passion, and above all an idea to begin with.
One will also need to assess the market situation and the place of business before they go forward with an idea. If the kind of business you wish to start already exists, how you add value to the same kind of business will help you stand out from your competitors.
If you are here looking for hints on what could suit you, here are 7 small business ideas that will suit the Bengaluru city market segment.
1. Home-Based Catering
A large number of working professionals living in Bengaluru prefer to purchase cooked meals as their busy schedules do not allow to cook for themselves. Having home cooked food delivered to homes and offices would be ideally preferred by them.
If you like cooking for others and are good at time management, home-based catering service will suit you.
This small business idea will require an initial investment on cooking equipment and storage so as to accommodate the large quantities and maintain hygiene standards.
You will also need to get a license to run a food business where government officials will check your residence to see if it meets standards. If you are living in a rented space, you will also need written consent from the landlord to run the business.
This business requires consistency in terms of food quality as one bad review could shut down your catering.
2. Grocery Store with Delivery Service
In the city of food delivery startups, home delivery services are bound to be expected. While a grocery shop is usually considered to target households, one can expand their reach to multiple restaurants and fast food corners in the locality.
The grocery shop business will require renting a small space at a convenient location for you (because you will need to keep the store open for long hours) and preferably in a market area (for more customers). The key to running a successful grocery business is maintaining inventory, understanding your customers' needs and evolving with the changes in customer tastes.
3. Car Rental Business
Bengaluru also has its fair share of tourists. Even residents of the South Indian city prefer vacationing in towns and cities close by.
Both inter-city and out of station car renting services are in high demand among the residents of the city.
If you have a car that you want to rent out, there are many car rental services like Ola, that you can tie up with to get regular income and work at hours preferable for you. This could be run as a part-time or side business for an additional source of income if you do not want to quit your existing job.
4. Hostel for Students/Working Individuals
There is always a new crowd moving to Bengaluru. If you have spare rooms or houses in your property, you can rent it out to working professionals and students for a steady monthly income.
5. Real Estate Brokerage
If you have been living in the city for a good amount of time, have contacts and good at negotiations, rental brokerage services should suit you. Property owners, new residents, and business owners need real estate advisors to help them connect with each other.
This business does not need initial investment but requires a person to be proactive and with strong communication skills.
6. Day care/Childcare Business
Working parents are always looking for reliable and safe day care services that are within proximity.
Note that even day care centers run at homes require a license.
7. Online Retailing
E-commerce platforms like Flipkart and Amazon help sellers meet buyers. Even if you do not have your own product to sell, you can always become a vendor for an existing manufacturer.
You will need sufficient inventory space and packaging equipment. The delivery services will be fulfilled by the e-commerce platform.
If you receive good reviews, the number of orders will increase and eventually your earnings.