You see, if you have around 50 lakh rupees sitting pretty in your bank account, you can literally do wonders with it if you launch yourself in the business domain of India. There are a lot of business ideas you can try with 50 lakh rupees, but the best course of action would be to get down to the research part and find a business idea that you have a particular interest in and can keep on doing it for the long run. And that’s why we are here with a list of the 5 business ideas under 50 lakh rupees investment as of 2024. Alright, here we go now.
1. Kitchen Spices Manufacturing
Spices in India? Well, we all know how fond Indians really are when it comes to spices. And that’s the reason why the kitchen spices manufacturing business can literally be a success in India, no matter in which corner of the country you start this business. The recommended initial investment is 15 to 20 lakh rupees. This includes getting space ready, raw material, grinding, and packaging machinery, and setting up all required certifications and licenses. This business can really grow; with the right kind of branding and quality control, it can span across customers within and outside the country. Since the market for organically and exotically grown spices is growing, this might give higher returns.
2. Manufacture of Bamboo Products
The bamboo products industry is an eco-friendly business that has become popular as more people are demanding sustainability, and that’s not just for the talks, it is actually the case, especially in India. This business starts with at least an investment of about 50 lakh rupees. This amount is required to establish the manufacturing space, buy machines, and get the raw material aka bamboo. Costs will include machinery for processing bamboo into various items, including furniture, utensils, and decorations. Though, setting up machines to cut, shape, and finish the products is not easy. And yes, since this is a creative business, it also entails coming up with new and unique items created to make an attraction for the customers.
3. Education Tourism
In India, you see, educational tourism has been booming in the last few years or so, and that’s because there is a lot to learn about India’s rich culture, and that’s precisely where you can capitalize on this. Setting up an educational tourism business requires about or less than 50 lakh rupees, which includes setting up education spaces, marketing, and hiring teachers. This budget is spent on program development, classroom setup, student accommodation, and travel arrangements. It would also need a robust marketing strategy to tap and build relationships with schools and colleges for international students. It’s an industry with a lot of potential to grow because people acquire more experiential learning.
4. Animation Studio
Starting an animation studio is a great way to tap into the growing demand for animated content in areas like entertainment, ads, and education. Up to 50 lakh rupees could be used as an initial investment, which includes the set-up cost of the studio and stuff like very high-end computers and animation software. You will also have to pay your workers: a team of expert animators, graphic designers, and marketers. Find a perfect location for your studio, get the right gear, and build a talented crew. The trick for landing more commissioned projects is to network with potential clients from across even the most diversely interested industries. The demand? Well, that’s always high for such a business, you can do the market analysis yourself for that.
5. Namkeen Factory
Lastly, you see, you can’t go wrong with Namkeen in India. Literally every part of the country, people like to munch on Namkeen items, especially when it is chai time, you know? The business will need approximately 30 to 40 lakh rupees to start off, including the setting up of a factory, along with the fried, seasoning, and nankeen packaging machines and getting your hands on the quality raw materials. Certainly, marketing and developing the distribution channels will be an important part of the business. Here is a quick tip though: the aspect of developing unique tastes and making attractive and appealing packaging should not be overlooked, that’s one of the major things that’ll help you succeed.
Conclusion
That’s all for now. See, these aren’t the only business ideas under 50 lakh rupees that you can try in India, but there are many more. Though, these are the best ones so far and do wonders for you if you start working on them in 2024.
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