You see, in India, with a budget of around or under 20 lakh rupees, you can start a full-fledged business and establish yourself really well in the market, right? But that only depends upon which business idea you choose to work on. And if you are still in the research part of it, then we’d advise you to not miss out on this post because here we are talking about the 5 business options under 20 lakh rupees investment in 2024. So, let’s get to it right away, shall we?
1. Handmade Soap Manufacturing
We know, this one might seem like a very niche business idea, but when you get down to the actual market analysis of soap demand in India, you’ll precisely know why we have put it at the very top of this list. Especially, when talking about handmade and organic soaps, the demand is growing like crazy in the country. Starting a handmade soap business means getting to know the soap-making process and finding quality materials like essential oils and natural colorants. You will need about 3-5 lakh rupees in hand, which would cover the cost of material as well as the equipment to get started, things like molds and mixers for starters, along with your marketing activities. Start by focusing on the best oils and additives. And yes, remember that packaging is the main thing that can make your product stand out.
2. Jute Bag Manufacturing
Growing in eco-awareness, jute bags are gaining popularity, and this business could be very promising. Just one search online about the jute bags, and you’ll know how big of a demand there is for such products. You will need machinery and jute fabric and dyes worth around 10-15 lakh rupees to get going. You would also need some space for this small workshop and staff with good artistic skills to craft these bags. Mainly, the money will be invested in equipment and materials that are required to start things up. This business is very promising with the growing demands for eco-friendly products, so no wonder why the jute bags business is also set to take off, giving you steady profits and potential growth.
3. Disposable Paper Products
Every Indian citizen is realizing nowadays how bad plastic products are for us as well as the environment, and that’s why more and more people are switching to better alternatives, which are of course disposable paper products. The first step to entering the disposable product industry is to set up a production line for products such as paper plates and cups. Invest approximately 10-12 lakh rupees to cover the cost of equipment, materials, and a place to work, that’s pretty much it. Needed are paper pulp, water, chemicals, and molds, plus equipment to give shape, dry, and pack. Make sure you’re in compliance with environmental laws and get the appropriate permits. The best thing is, you can easily scale this business up whenever there is a high demand for the products you manufacture, and take it from there.
4. T-shirt Printing Business
And let’s be honest, everybody loves T-shirts, especially in the summer season, right? So we don’t need to tell you how big of a demand there is for the T-shirt printing business. Just make the investment in machines and raw materials, such as blank T-shirts and inks, of about 8-10 lakh rupees. Design modern T-shirts and sell them by marketing them online. All in all, an online business has no troubles, it is far easier and cheaper. With time, you can consider setting up a physical shop or dealing with retailers too.
5. Plant Nursery
Lastly, a plant nursery can be a very good venture for someone with a flair for gardening. An investment of somewhere around 5-7 lakh (or as high as 15 to 20 lakh) rupees will be needed, including the cost of purchasing land, seeds, and other horticultural materials. Greenhouses have to be constructed, with the proper supplies like soil and fertilizers. It is also very important to register the business and comply with all the agricultural rules and regulations. Again, this business idea is pretty much scalable, but you’ll have to put in a lot of effort and time to establish yourself.
Conclusion
That’s pretty much it. As you saw, with such a decent budget, you can easily start many manufacturing businesses, as well as try something unique. But always make sure you do your market analysis part correctly, without it, your chances of success are very slim.
Related Topics
- 5 Business Options Under Rs.10,000
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- 5 Business Options Under Rs. 1 Lakh
- 5 Business Options Under Rs. 2 Lakhs
- 5 Business Options Under Rs. 5 Lakhs
- 5 Business Options Under Rs. 10 Lakhs
