Business ideas under 5 lakh investment: Starting your own business is one of the things which is almost in everyone’s mind. But to get started, you need a solid foolproof business idea and investment to fund it. Unfortunately, most people backstep, thinking their idea is useless or will not generate enough income.
If the same is happening with you, we have come up with profitable business ideas under 5 lakh. Also, we understand how daunting it is to find a business idea that is both safe and reliable. This is the reason why we have jotted down the list of best ones for you. You can follow any one of the business ideas under 5 lakh listed below to pave your path to success.
Top Business Ideas Under 5 Lakh Investment
The following business ideas under 5 lakh investment are right now the hot ideas in the market. Pick anyone and make your business idea a great brand story.
Almost every offline business has moved online. The reason behind this shift is the rise of digital marketing and people spending more time online. With so many companies competing, you can easily outreach them and run marketing campaigns for them. You can assure them of promising results, and they will become your customer.
For starting an online advertising agency, you require an investment between 2 lakhs to 3 lakhs. But before starting, you need an in-depth understanding of different social media, search engines, their algorithms, running ads and networking. Through this business idea under five lakhs, you can earn enough money only after gaining plenty of clients and delivering them as per their requirements.
Eco-Friendly plate and cup manufacturing
As people are becoming more environmentally conscious and aware of the harmful impacts of plastic, having a disposable product manufacturing business is profitable. Also, right now is the best time to follow this business idea as the demand for disposable products increases day by day.
The disposable plates and cups are in high demand on almost every occasion like weddings, events, corporate parties, get together, birthdays etc. You don’t need a huge investment to open this business; 5 lakhs is more than enough.
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Are you a foodie and want to open your restaurants but are short of budget? Don’t worry; you can purchase a food truck made according to your requirements. Why food trucks? It is because you can take it anywhere where footfall is high, and It is one of the fancy ways to serve food to your customers.
Moreover, people love purchasing foods from food trucks, considering it is hygienic and pocket-friendly. The Food Truck business idea is highly lucrative and can be easily opened with an investment of 5 lakhs. But, for getting plenty of customers and earning money, you need to maintain hygienic quality and serve delicious food.
Selling Mobile Accessories
These days people spend most of their time using mobile phones for different purposes. Thus they love to purchase mobile phone accessories, which makes their overall experience of using mobile more interesting. To start with the mobile accessory business idea, you can create the list of accessories that you think people are most likely to buy. It can be charger, earphones, covers, memory cards, guard, Bluetooth speaker etc.
After deciding everything, you can either start the business offline or create a website to sell mobile accessories. To do it offline, make sure you pick the place where footfall is high. Once you acquire a huge customer base, then no one can stop you from earning higher revenue.
Also, ensure you sell high-quality mobile accessories only to boost your clientele. When we talk about business ideas under 5 lakh, then many come to our mind. But out of all, opening a franchise store is also highly profitable. Although there are many reasons to support this specific business idea, here are a few:
It is a consistent source of income. There is no need to go out and work hard to build a customer base when you are already getting a pre-built customer base.
The staff you will hire to manage the brand’s franchise store will receive free training from the brand itself. With an investment of 5 lakhs, you can get several franchise options.The chances are the franchise which you are thinking of opening can help you right from pre-opening to teaching you everything about operations.
No matter how rapidly digitalization is ruling the world, printing will always be in high demand. If you are thinking of starting a business of your own, then printing is one of the best ideas. On a daily basis, people come up with varied requirements for printing shops like newspapers, wedding cards, invitation cards, visiting cards and much more. Aside from just focusing on the printing, you can include Flex
Printing and offer other services like photostat and scan. For starting your own printing business, you don’t need to initially purchase anything more than a printing machine, coloured inks, paper and small printers. It means you can easily begin with an investment of 5 lakhs.
Also, don’t forget that you need manpower to get more work done in less time. With time, your printing business will pick up the pace and if you do its marketing well, you will start getting more orders. After this, you can purchase more machines and expand the manpower. Overall, this business idea is profitable enough.
Creating Optical Frames
Times have changed, and so does the interest of people in spectacles. Earlier, people just used to stick to one frame for years. But now, trending spectacles and shades have become a style statement. It means there is a high scope of starting a successful business in this domain.
Don’t worry. Creating optical frames is quite simple, and you can learn it easily. You need to purchase the machines which will help you create frames. You need space also where you can easily place everything and begin with manufacturing. You can hire staff who can help you create frames or do other duties.
The raw material is also cheap. On average, creating a frame will cost you Rs 150 to Rs 200 (including labour and design charges). Later, you can easily sell those frames at the cost of Rs 250 to Rs 350. It means the profit margin is also good. So you can easily start with this business idea for under five lakhs but make sure you serve your customers best.
Catering is one such business that stays active throughout the year. To initially build the customer base, you can start from home. You can ask your friends or close ones to taste the food you make and then tell them to recommend you for catering whenever some event happens in their family.
In this way, you will already have a customer base before opening a catering base. For starting, you need to purchase kitchen items, be a great chef and hire a catering crew. To rule in this business, you have to keep serving delicious food to the people and come up with your creative ideas.
Make sure while making food, you use nothing, which is prohibited. Slowly, you can expand your base after your client increases more. Due to the low investment needed and higher profit margin, this business idea is best.
The trending clothes are always in demand, and people love to try out new trends. As per your wish, you can either open an ecommerce store or an offline boutique or your own brand store.
Initially, you can rent the place, and it’s up to you whether you want to sell self-made designs or readymade garments. Make sure before starting, you have in-depth knowledge of clothes material, what’s trending around, and prices. You can easily open your clothing store with an investment of under-five lakhs.
The best benefit of this business idea is that the investment is low, but the profit percentage is too high. So what are you waiting for? Keep the requirements of your customers in mind and launch the clothing store.
Delivery Services Provider
Even this business idea under five lakhs is also in great demand. By investing merely Rs 50,000 to Rs 1 lakh, you can start a delivery services business. Whenever we think of delivery, we think of zomato, swiggy etc. But no, delivery is not only limited to only food. The delivery services are required by several businesses like flowers, gifts, groceries, food, ecommerce and what else. It means there is huge demand and you can tie up with other companies for delivering their products.
You can start with delivering their products or services to the customers, or you can provide them with one of your delivery men. Moreover, as every business is coming online these days, the delivery businesses are expected to grow more. Now is the high time to launch your business and start earning revenue.
Content Writing Company
Every moment thousands of websites are launched on the internet. But do you know who writes the content of those websites? Those experts are called content writers. Even in the last few years, the demand for content writers has increased rapidly. If you already have the necessary content writing experience and some clients, you can open your content writing agency. After opening the agency, you can hire a few writers who excel at content writing and copywriting.
Along with this, you can have one or two business development executives skilled at managing upwork accounts and bringing content-related projects. Not only for the websites but the content is needed for marketing as well. The clients always require different types of content like it can be related to the technical niche, education, interiors, ecommerce, books, organic products and much more. You can begin with getting your firm registered from the authorities and complete the formalities.
Later, you are good to go and start running your business. Moreover, the investment needed for this business is less, and if you know how to get high paying clients, then the profit margin is also high.
A Thrift Store
Though the concept of thrifting has been around for so long, recently, it has picked up the pace. Mostly on Instagram, so many small businesses have launched that sell thrifted clothes and people happily purchase from them. Of course, you can also start this business both offline and online. But our suggestion is to start it online with the help of social media.
You can create your thrift store page, which costs nothing. Then, after creating the page and acquiring some followers, you can start purchasing trending clothes of different varieties from thrift stores. Later, sell those clothes ( gowns, graphic tees, dresses, jeans, shorts and more) at a slightly higher price to profit from every sale by posting about them everyday on your instagram or facebook page.
Moreover, this business doesn’t require much investment. You can even start offline by opening your store and selling thrifted clothes at a price little higher than paid. It’s a great business idea if you know how to leverage it.
With the arrival of pandemic and various other health issues around, people have become conscious of their health. Nowadays, people prefer to go out to fitness centres and gyms to achieve their fitness goals. Due to these reasons, opening a gym is also a great business idea for under 5 lakh. You can easily start a business with an investment of 5 lakh.
Initially start with purchasing a few machines and do marketing of your fitness centre. Also, understand that you need wide space to keep the exercise equipment, AC, Music system etc., in place. As more people start coming to your gym, you can expand the operations and open branches.
Every year so many students and professionals move from one city to another and then look for a space to live. Thus if you have few vacant rooms in your spacious home, then you can rent them. Ensure the rooms you are thinking of renting have a washroom attached to them and are spacious enough.
You must also provide other basic amenities to the tenant like fans, bed, lights, geyser, almirah, table, chair and AC. You can hire staff also like a cook, cleaners, security etc. to manage the PG effectively. Moreover, if you own some vacant buildings, then you can start your PG services business there. Finally, you can open a PG business if you have an investment of around 2,50,000.
Home Maintenance Solutions
Whether your home or office, all the properties need servicing and maintenance from time to time. There is huge scope in opening a Home Maintenance Solution business, and you can provide plenty of services to the people. The services can be pest control, AC cleaning, repairing, cleaning, plumbing, electrician, etc.
People these days don’t have time to search for different experts to get the services they want. They prefer to get everything from one place. Once you gain enough clients, then you can start giving discount offers also. It will help you attract more people. You can create packages like monthly or annually to constantly render services to those in need. You need not spend a fortune to start this business. But the benefit is that you can earn a lot, even more than expected.
So, this was our list of best business ideas under 5 lakhs investment ends. You can begin with any of the above-listed business ideas as per your interest. Then, through consistent hard work, you can easily expand it.
Also, these ideas are best if you want to generate extra income every month. With proper implementation and planning, make as much money as you want.