20+ Most Profitable Retail Business Ideas to start | Best Shop Business Ideas in India
20+ Most Profitable Retail Business Ideas with Low Investment
There are thousands of businesses. However, one should start a business based on their interest or passion and based on how much they can afford to invest in such business. Retail Business has wider scope compared to the wholesale business. Are you thinking what is the good retail business to start with low investment or looking for best shop to open in India?. If you are in search of such business ideas, this article is for you. In this article, we would provide Top 20 Profitable Retail Business Ideas to start with low investment.
What are Retail Business Ideas?
A retail business refers to the business in which the goods are sold directly to the customers with a view to earning profits. With the emergence of shopping malls and big companies entering the retail sector, it has taken the shape of a much more organized segment than before. The young enthusiast can take on this business with a small shop that can be expanded to multiple chain stores later. The level of investment involved in retail business depends upon the level of business you like to expand. You can start small, remain small or can expand and make this as medium sized business.
Top 20 Most Profitable Retail Business Ideas with Low Investment
Here come the ideas of more than 20+ retail businesses which require low investment but earn good profit.
1) Grocery store
it is one of the most profitable retail business in today’s environment. It does not require any specific skill and the investment also is moderate. You can initiate it in any residential area. This business requires a lot of hard work and dedication. You can open an online website too, and sell groceries online. This could turn into one of the best online retail business ideas if your service is well accepted.
2) Stationery and bookstore
There is an ongoing demand for stationery items and books. So, opening a stationery shop can be a good retail business option. This is one of the best retail business ideas in India.
3) Customized gift shops
Gifts are always in great demand, whether it is an anniversary or birthday or any other occasion. Instead of buying regular gifts, people prefer to customize them and give it a personal touch. So, you can come up with a customized gift shop which is a best new retail business ideas emerging now.
4) Cosmetic store
Cosmetic products and beauty items are always in high demand amongst ladies. You can deal with branded as well as non-branded products. The profit margin in a few products is quite high in it. To flourish in this business in the long run, you should keep high quality products.
5) Perfume stores
Perfumes are very much in demand for personal use as well as for gifts. There are a huge variety of perfumes available in the market. You can keep local as well as imported perfumes. The best place to open the shop is in a mall or the center of the city.
6) Mobile store
No need to mention that mobiles and smart phones have become a big craze amongst the youth and a necessity for all. So, opening a mobile store is an excellent retail business idea. The investment required in this business is moderate. The success of this business depends upon the quality and brand you keep at the store. At the initial stage, you should refrain invested much in the business as it is a very dynamic field. This is one of the top retail business ideas now as the majority of people are purchasing mobiles and replacing them within a short span of time. This is one of the best shop business ideas in India.
7) Kids store
Today, the market is plashed with the products related to kids. You can provide the customers with a store that has everything that a kid needs. From toiletries, clothes, toys to accessories, there is a plethora of range that can be kept in the store.
8) Sports shop
If you are passionate about games and sports, you can initiate the business of a sports shop. It is better to conduct market research to understand the specific demand of the locality. Moderate capital investment is required for this business.
9) Thrift store
A thrift store sells second hand and used items. Many middle-class people demand secondhand items for expensive products like bed, almirah, tables, electronics, etc. You should choose a location that enjoys a good footfall. The procurement of the right product at the right price is very important in this business. This is one of the top retail business ideas to start with low investment and get high profits.
10) IT hardware store
Today computer is demanded in every sector and for all forms whether big or small. So opening an IT hardware store is a very good business idea. You can sell items like desktops, laptops, mouse, speakers, hard disks, etc. The success of this business depends upon the demographic situation and demand.
11) Auto spare parts store – This store sells the spare parts needed for the various automobiles. It is one of the most profitable retail business. You need to ensure that the location of the auto spare parts store is very suitable. It should be either in the middle of the city or near some garages. This could be top small retail business ideas.
12) Organic food store – People are becoming more health-conscious and so they’re ready to spend more money on organic food. You can start with an organic food store as the demand for organic food is escalating day by day. The investment in this business is also low.
13) Ice cream shop – People are too fond of eating ice creams, especially in the summer season. It is even demanded in marriages, functions, events, etc. So, opening an ice cream store business along with its associated products is a profitable business option. You need to select the right location and maintain the quality of the product. You can even obtain a franchisee of some famous ice cream brand.
14) Garments Store: Today, people are spending more on food and clothing. You can open a garment store, especially targeting women and kids could turn this into a successful business. Garments store is one of the profitable retail business ideas for small towns also.
15) Tours and travel organizer – If you have good knowledge about tourist destinations all around the world and good planning skills, you can open a tour and travel agency. In this business, you need to take care of the tickets along with their stay arrangements and sight-seeing.
16) Medical store – If you are looking for small town business ideas that will stick, opening a medical store or pharmacy could be a good idea. With the changing lifestyle, medicines have become one of the basic requirements of people. Opening a medical store can prove to be a very lucrative business. You must be very careful about the location of the store. It should be positioned near some hospital to fetch good profits.
17) Florist – The demand for flowers and bouquets is evergreen. You can always pursue this business as it does not require any specific skill. This business requires a lot of hard work, dedication, and a touch of creativity. Home services to the local customers can give good profits. You need to deliver something unique in this business.
You may like: 50+ Online Business Ideas with low investment
18) Pet store – If you are a pet lover, a one-stop pet store is perfect for you. People who are passionate about pets and possess good knowledge in this field can run this business successfully. There is a plethora of products available in the market which you can keep in the store. Along with it, you can even provide allied services.
19) Tattoo parlor – Getting a tattoo graved is the new craze of people. They can spend a good amount of money to get the tattoo of their choice. A huge variety of themes are available in this field, so you need to keep yourself updated. A lot of creativity is also demanded in this field. Hygiene is also another factor that should be kept in mind.
20) Fashion Jewellery: Gone are the days where people prefer gold ornaments for daily usage. You might be aware of one gram gold, which has become famous, especially in South India. Bringing such fashion jewelry which could be simple, but low to moderate cost can attract customers.
21) Sweets and Snacks Bar: People love food these days. If you can offer delicious sweets and special snacks, this business might turn your success. This could be one of the good business ideas for a small village too.
Conclusion: Many people spend a lot of time in thinking about what business he/she could initiate. This article provides some brilliant ideas for retail business. So, tie your shoes and get ready for the new venture. Remember, there is no short cut to hard work.
If you enjoyed this article, share it with your friends and colleagues through Facebook and Twitter.
Top 20 Most Profitable Retail Business Ideas with Low Investment
- Nippon India Nifty 50 Value 20 Index Fund NFO – 19% annualized returns since inception – Should you invest? - January 27, 2021
- Axis Greater China Equity Fund of Fund NFO – Should you invest? - January 27, 2021
- Best and Consistent Performing Large Cap Stocks to invest in 2021 - January 26, 2021