Naveen Sridhara

8 Ideas for a Business under 1 Lakh in 2022

Homemade Candles

Candles are one of the products that are always in demand. The sale of candles has become a trendy option for entrepreneurs looking to launch a business with minimal initial capital. 

The need for candles is exceptionally high because of the different reasons people want to use them, ranging from traditional to religious to decorative, especially during celebrations. 

You can start a candle-making business with a minimum investment of ₹ 20,000 to ₹ 30,000 in the beginning, and it can also run successfully from home. To get the company off the ground, all you need are the raw materials and some essential candle-making equipment. As demand increases, you can expand the business further.

Pickles

The production of pickles is yet another tried-and-true Indian business model, and the product is in high demand across the country. You won’t come across a single household in the country that doesn’t have at least one pickle recipe in their repertoire. A pickle business is, therefore, an easy and risk-free option to consider if you want to begin with a low initial investment. 

The demand for Indian pickles is very high not only in the domestic market but also in international markets. A capital of ₹ 20,000 to ₹ 25,000 is sufficient for starting a pickle-making business. If you know the recipes well, you will have the potential to grow this modest business into a very successful one in the future.

Incense Sticks (Agarbatti)

The business of selling incense sticks in India is expanding because of the significant demand in other countries. For people who are into spiritual rituals, yoga, etc., worldwide, there has been an increase in the demand for incense sticks and sage sticks. India exports incense sticks worldwide. The price of automatic and semi-automatic machines that make agarbatti sticks starts at ₹ 50,000. These machines come in handy if used for mass production.  

Buttons, Designer Lace and Shoelaces

Regarding fixings and trimmings, the garment industry relies on buttons and designer laces more than anything else. Shoelaces are also an important component. They have a tremendous amount of market potential, all thanks to emerging fashion trends. Because lace and buttons are always in demand and exported to various countries, this industry is an excellent choice for individuals interested in beginning a business with a minimal initial financial commitment. An initial investment of between ₹ 25,000 and ₹ 50,000, requiring only a fair amount of space, is enough to start your button and shoelace-making business. 

Ice Cream Cones

These have had a perfect record of success in 2021 small business concepts that can be launched with a capital investment of around ₹ 1 lakh. Ice cream is the most well-liked sweet treat among people of all ages, and almost everyone enjoys eating it. The demand for ice cream cones is growing directly due to the rising consumption of ice creams. As a result, establishing an ice cream cone manufacturing unit is the most sound course of action to take. This concept unquestionably has the potential to be a lucrative business choice, and the amount of capital required to launch this enterprise is approximately ₹1 lakh to ₹1.5 lakh. However, if you have access to high-capacity machinery that makes these cones, you can run the same company on a much larger scale from the beginning.

Handmade Chocolates

Chocolate is known to improve one’s mood and relieve stress. When it comes to the consumption of chocolate, India is at the top of the chart. Handmade chocolates are a popular item in India as far as small home-run businesses are concerned. According to research by Mintel, the number of people purchasing chocolate confectionery in India’s retail markets has increased by 13% between 2015 and 2016. The raw and packaging materials can all be purchased with an investment of between ₹ 40,000 and ₹ 50,000, the total amount needed. If you have larger ambitions for the business, you may find that the initial investment ranges between ₹ 2 lakh and ₹ 3 lakh. This particular business has a good range of success rates and profits, making it one of the best options available to people who want to start a business but have limited capital.

Noodles

The production of noodles is a straightforward business process that only requires a few fundamental ingredients. There are both semi-automatic and fully automatic noodle-making machines available in the market today. 

Making noodles is not particularly challenging, and there is a constant and consistent demand for them. Since noodles can be cut into any shape or size, it is possible to make the production of noodles in a unique way to attract customers. The cost of primary noodle-making machines with a low capacity is approximately ₹ 40,000, while the cost of premium machines is about ₹ 1.5 lakh.

Disposable Plates and Cups made of Food-grade Material

There are no such things as events, picnics, or functions without plates and cups made of disposable food-grade material. People who sell goods on the street, such as hawkers, use them extensively. So, why not launch your company that manufactures these disposable plates and cups? This is a highly lucrative business in India as well as worldwide.

Conclusion

It is undoubtedly not an easy task to start a business. Hence, if you are looking for business ideas and execution, you have this blog handy. Also, if you need any legal help related to starting a business in India, the team at Vakilsearch can be of great help here!