10+ New Innovative Business Ideas to start now [High Potential]

New Innovative Business Ideas to start now [High Potential]

There are thousands of business ideas. Some are useless. Some have heavy competition. Few of them are seasonal in nature. Many of you would have got fed-up with regular and simple business ideas. If you want to try something new that has high potential to earn money, then you are at right place. Some of these business ideas requires talent, some need investment and some may need intelligence to think through and implement. In this article, we would list out 10 New Innovative Business Ideas in India to start now which has high potential to earn decent profits.

Also Read: 20+ Future Business Ideas for 2020 and beyond

10 New Innovative Business Ideas to start now [High Potential]

Here is the list of innovative business ideas to start. Some of them would need good talent, some would need higher investment and some need some intelligence to think, innovate and start.

#1 – Drone Photograph services

#2 – Organic Farming

#3 – Dial a Plumber

#4 – Sell Digital Products

#5 – Start a Virtual Dance Studio

#6 – 3D Miniature clone dolls

#7 – e-Waste Management

#8 – Plastic Recycling

#9 – Small robots with Articial Intelligence

#10 – Sale of Organic Food Products

#11 – eBikes – To use for short distances

#12 – Smart devices for home

#13 – Set-up online / e-commerce websites with a click

10 New Innovative Business Ideas to start now [High Potential]

Now let us get into more information about these innovative business ideas

1) Drone Photography Services

According to the recent report of PWC, drone services are expected to grow at 18% CAGR in the next 3 years and expected to reach $ 900 Mn by 2021 in India. One can create various services through Drone. Drone services (also called as unmanned aerial vehicle services) are services provided with flying robots that can be remote control or flown autonomously using software controlled in their embedded systems. There are drone photography services, drone delivery services, etc., Drone photography services is simple to start and that has huge potential. These services can be offered during weddings, parties, short films etc., Drone camera is available from Rs 5,000 onwards. Drone Photography services is one of the new creative business ideas in India that has huge potential in coming years.

2) Organic Farming

We all know that the food we eat is grown with pesticides and chemicals which does harm to us. People are slowly shifting towards organic food now. Organic farming is a method of crop or livestock which involves not to use pesticides or chemical fertilizers, genetically modified organisms, etc., This is fast growing business now which has excellent potential in future.

3) Dial a Plumber / Book a Plumber

This is less competitive business. While we are all busy with professional life or business, one does not have time to check plumber repairs to be done at our home. One can encash such low competition business now. One can create dial a plumber service and hire professional plumbers and start within a short span of time. Customers would call a specific number and you can supply plumbers based on price per activity. You can also create online website and customer can make a booking online.

4) Sell Digital Products

Do you want to start a good innovative business ideas during lockdown / covid-19 that has zero impact even during virus times, then you can try this business idea.

Here you would create digital products that are in good demand on a website. People would visit your website and purchase such digital products. You don’t need much manpower here as you are creating digital products based on your talent / passion. Examples of digital products are:

Software in particular niche

E-Books

Automatic financial planning advice (Robo financial service)

Create Online Stock market courses (e.g. see courses offered by CA Rachana Ranade here (https://www.rachanaranade.com/s/store/courses)

Online courses for school students

Online course for working professionals

You may also like: 30 Technology Related Business Ideas

5) Start a Virtual Dance Studio

Covid has taught many lessons to us. With social distancing, many small businesses have collapsed. Everything is now virtual. If you think you are passionate about dancing, you can start Virtual Dance Studio.

Forget about who is joining the dancing classes. Start live video classes on Facebook, Instagram and on Youtube.

Attract people with your talent

Offer concessions on fees during initial period

Offer fees concessions for enrolling kids

Earn money through Youtube partnership monetization.

The world is yours!!!

Check this example of Laasya Dance Choreography, where Mom and Daughter teaches simple dances on YouTube where they had 800K+ subscribers.

This is one of the best new innovative business ideas in India with low investment.

6) 3D Miniature clone dolls

Have you see small cloned dolls of people. If not, you are missing something in your life. 3D Minitature clone doll business is emerging and trending now. Many are interested in buying such products. If you are creative, you can start on your own. If not, hire fewer people who already have such experience and start this business. This is one of the best innovative business ideas for students.

7) e-Waste Management

Maharastra is the highest e-waste producer in India. Have you ever wondered about where the e-wastage (old computers, gadgets, fridges, TV, electronic appliances etc.,) thrown. In many cases such e-wastage goes to dump yards. However, do you know that one can take up e-waste management and earn money through it.

8) Plastic Recycling

Plastic has a bio-degradable substance which is hazardous. We are using several plastic products. However, some of them like plastic bottles, plastic covers etc., can be recycled and re-used.

One needs to prepare a business plan about how to manage plastic recycling. Identify a good location where you can hold plastic wastage. Here is the process of plastic recycling.

Collection of plastic waste and dumping

Sort and separate of plastics

Grinding process

Supply these raw materials to recycle unit

Recycling process starts by compressing and melting plastic raw materials

Formation of pellets

Manufacturing of new products like bottle, chair, tables etc.,

9) Small robots with Artificial Intelligence

Have you observed how covid-19 patients were serviced in the initial period in some of the countries. They were put up in a room and food/medicines were serviced with small robots. While such things might need better technology, one can think of such ideas and start creating small robots that can be used to provide many services. During this covid times, starting a business with robotics (with AI) could be a inventive business idea to start.

10) Sale of Organic Food Products

Many are moving towards organic food and wanted to avoid food that is grown with pesticides and harmful chemical fertilizers. If you don’t want to do just organic farming, one can start a store that sells all organic food products. This is one of the new innovative business idea that is trending now in India.

11) eBikes – To use for short distances

Have you observed that people use their car even to go to short distances. Also buying a bike / two wheelers is costly and people don’t want to spend that much money to use for a limited time. Here comes e-Bikes. These are low powered bikes which need to be charged with electricity and can be used for short distances.

12) Smart devices for home

Have you ever thought if you can switch on bed room A/c by sitting in living room? Have you ever thought that with one click you can turn-off entire power when you are going to bed or when you are going for vacations / long distances? These are not dream any more. Many companies are coming up with such innovative business ideas now. Why don’t you try creating any of such smart devices to be used at home?

You may like: 50+ Genuine Online Business Ideas

13) Set-up online / e-commerce websites with a click

Here, you are not just creating a e-commerce website. For this there are already thousands of softwares like WordPress and several enhanced plugins. Here you would create a software which specializes in a particular niche to run a business where there is good potential. Here are examples.

Software used by chain of pharmacy stores

Software used by a chain of grocery stores

Software used by a chain of bakery stores

Software used by a chain of schools

Software used by a chain of colleges

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Suresh KP

Founder at Myinvestmentideas.com

Suresh KP is the Founder of Myinvestmentideas. He is NISM Certified - Investment Adviser and NISM Certified - Research Analyst. He has been analyzing financial markets in the last 20 years.He can be reached at suresh@myinvestmentideas.com

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