10 Effective Business Ideas Under 3 Lakhs Investment

It’s not uncommon these days to discover folks who want to start from scratch and construct something from the ground up rather than looking for employment that doesn’t pay much. This is when a eureka-type business idea can save the day.

Business ideas are one thing, but implementing them is another thing entirely. It is said that the most worthless thing there can be is a business idea that hasn’t been implemented.

There are a variety of causes for this shift in society, including the country’s struggling economy, fewer job possibilities, and a focus on feeding new methods to the market. Small-scale businesses have made the most significant contribution to the cause.

 

Below Are 10 Such Small Scale Business Ideas That Will Help You Start A Business For Less Than 3 Lakhs.

1. Customized products
2. Photography
3. Food truck
4. Event planning
5. App development
6. DIY arts and crafts
7. Tutoring services / Academy
8. Web Designing
9. Doorstep delivery service
10. Housekeeping services

To make this a genuinely comprehensive guide to small-scale business ideas, we have given you a few good examples of these business ideas for every section in an image. As some of the business ideas are somewhat straightforward, we have left them as is. But do enjoy the many examples of such ideas, waiting to be executed.

We have also added a comprehensive example for those business types to solidify our claims further.

So dive in and explore the plethora of business ideas; which one should you go for? If none, share this article with a friend to whom this might be of help.

 

1. Customized Products Business Idea

In the twenty-first century, customized items are in full bloom. It’s the era of personalizing your stuff with your memories and thoughts to make them even more unique. Dealing with these items is not only inexpensive but also simple.

These items include personalized mugs, key chains, and pillows, among others. Getting into this business will allow individuals to discover new things that are needed daily but are also distinctive to their personalities. Customized products are increasingly popular as a giving option.

Our researched hypothetical case study:

Customized T-Shirt Printing Business – Under ?3 lakhs

• Market Research and Planning:

  Identify the target audience and competitors for your business idea to get started. Determine the demand for customized t-shirts in your locality or niche market. Analyze competitor pricing, quality, and designs to identify unique selling points.

• Equipment and Materials:

  Purchase necessary equipment such as a heat press machine, vinyl cutter, computer, and graphic design software. Additionally, invest in high-quality blank t-shirts, heat transfer vinyl, and other printing materials.

• Setting Up a Workspace:

  Start the business from your home initially to keep costs low. Set up a dedicated workspace with proper ventilation, good lighting, and storage for inventory and equipment.

• Marketing and Promotion:

  Create a website or online store to showcase your designs and allow customers to place orders. Utilize social media platforms like Instagram and Facebook to promote your business and reach a wider audience. Collaborate with local influencers or organize contests to generate buzz and attract customers.

• Fulfilling Orders:

  Ensure efficient order management and fulfillment processes. Maintain a stock of blank t-shirts in different sizes and colors. Once an order is received, personalize the design according to the customer’s requirements and use the heat press machine to transfer the design onto the t-shirt.

And that’s all there’s to it. If this business idea suffices and checks your boxes, then start a product customization business idea now.

 

2. Photography Business

Photography, which is typically thought of as a hobby and a source of delight, can also be turned into a career. If you want to study or improve your photography talents, there are a few courses and programs that can help.

The next step is to purchase a professional camera and take photos that will attract people to your work, which can then be placed online and advertised. This way, you can start a small-scale business doing something you already know how to do or can learn quickly.

Our researched hypothetical case study:

Mobile Photography Studio – Under ?3 lakhs

• Equipment and Accessories:
  Upgrade your equipment to include a high-end smartphone with an exceptional camera, along with additional lenses, a professional-grade tripod, advanced lighting equipment, and a portable photo printer. Allocate ?1.5 lakhs for equipment and accessories for the business idea.
• Marketing and Branding:
  Increase your marketing efforts to reach a wider audience. Invest in professional photography showcases and exhibitions, collaborate with local businesses and influencers for cross-promotion, and use targeted online advertisements. Allocate ?70,000 for marketing and branding.
• Additional Services:
  Expand your service offerings to include premium packages such as pre-wedding shoots, destination shoots, and corporate events. These services can generate higher revenue per project. Allocate ?50,000 to develop and market these additional services.
• Studio Setup:
  With the increased budget, consider setting up a small photo studio to cater to clients who prefer indoor shoots or require a controlled environment. Rent a space and invest in professional backdrops, props, and furniture for the studio setup. Allocate ?50,000 for studio setup and monthly rent.
• Client Retention and Referral Program:
  Implement a client retention strategy by offering discounts or incentives for repeat business. Encourage satisfied clients to refer your services to their contacts by providing referral rewards or discounts on future bookings. Allocate ?30,000 for client retention and referral programs.
• Online Print Sales:
  Create an online platform or website where clients can view and purchase prints of their photographs. Partner with professional printing labs to fulfill the orders, and set reasonable markups on the prints to generate additional revenue. Allocate ?30,000 for setting up the online print sales system.

 

3. Food Trucks Business Idea

Food has always been the unifying factor between people.

It allows people to share an experience, but outstanding cultural food can help them bond over a shared love of taste. You can easily put together a food business if you know this information about the people around you.

It’s also known as a food truck because it can provide mouthwatering meals and is noted for the perfect balance of flavors it incorporates. It will only take a location to implement the idea and the ingredients to prepare delicious food.

What better business idea than involving food in the mix?

How you can start a food truck business idea:

Street Food Delivery Service – Under ?3 lakhs
One option is to start a street food delivery service where you offer a variety of popular street food items to customers in a specific locality.

Here’s a step-by-step breakdown of how you can set up this business:

• Step 1: Concept and Menu Planning
  Research popular street food items in your target area and identify the ones that have high demand. Create a menu that includes a selection of these items.
• Step 2: Food Preparation and Licensing
  Rent a commercial kitchen space or collaborate with a restaurant that can provide the necessary facilities for food preparation. Obtain the required licenses and permits from local authorities, such as the Food Safety and Standards Authority of India (FSSAI) license.
• Step 3: Acquire a Food Truck
• Step 4: Equipment and Supplies
  The entire game is getting high-quality ingredients and supplies from trusted vendors at competitive prices.
• Step 5: Marketing and Promotion
  You will have to do trial and error to get the best marketing tactics. Experiment with social media ads and flyers more.
• Step 6: Operations and Delivery
  Identify busy locations or events for food truck parking, and attract customers. Accept online/phone orders for home/office delivery.

 

4. Event Planning

People all across the world like lavishly celebrating all of their special occasions and displaying all of their associated feelings. Birthdays, weddings, and success celebrations are all occasions that people spend a lot of money on, and they want everything about them to be perfect.

Customers give the funds for an event planning startup, therefore you won’t need to put much effort into it. All that is required is the ability and art of working things out wonderfully.

Now in the event planning business ideas, you can choose from the massive library of already-made events categories and specialize in that, such as; Themed Event Decor, Corporate Event Planning, Wedding Planning, Virtual Event Management, Children’s Party Planning, etc.

Or, you can be the master of all trades and provide end-to-end event planning services.

Either way, how you implement the business idea is totally up to you. As long as the business idea works for you, there’s no other hurdle.

 

5. App development

It is, without a doubt, the most profitable small-scale company concept. It necessitates developing an Android app that stands out in terms of what it does and offers. Our young are so engrossed in technology that creating a mobile app does not appear to be a difficult task.

Getting together with a bunch of skilled people who are experts in the subject can help you out more than you think. If all of the important factors, such as the application’s purpose, are taken into account, the developed application can be the most profitable.

Things to consider before starting:

• Define your niche and target market: Choose a specific industry or niche for your app development, such as healthcare or e-commerce. Understand your target market’s needs and aim for a unique and creative app to stand out in the competitive space.
• Build a team: Assemble a team of skilled app developers, designers, and testers. If your budget is limited, you can start with a small team or consider outsourcing certain tasks to freelancers or contractors. Assuming that you don’t come from a technical background, you will need someone who does to help you with your business idea.
• Effective marketing: Promote your app development business through a professional website, social media platforms, industry events, and online platforms to attract clients and generate leads.
• Continuous improvement: Stay updated with the latest app development trends, technologies, and industry best practices.

Please keep in mind that starting an app development business under ?3 lakhs may be challenging, as it involves various costs such as infrastructure, salaries, marketing, and more. The profitability of the business will depend on various factors including market demand, competition, and project success.

 

 

6. DIY Arts & Crafts

It’s a gift to be surrounded by individuals that appreciate, respect, and love art. In today’s world, recreating a work of art or craft is easier than it always was. Numerous DIY arts and crafts projects result in one-of-a-kind items. The majority of them are built from recycled materials and household items.

But let’s see how you can turn this into a serious and profitable business idea that works, rather than some school project.

Our researched hypothetical case study:

DIY Candle-Making Business Idea – Investment Required: ?2.5-?3 lakhs

• Step 1: Procurement of Materials
  Allocate a portion of your investment for purchasing raw materials such as wax, wicks, fragrance oils, candle dyes, molds, and packaging materials like jars, labels, and decorative accessories.
• Step 2: Candle-Making Process
  Learn various candle-making techniques and experiment with different shapes, sizes, colors, and scents to create a diverse range of candles. Develop unique designs and scents to stand out in the market.
• Step 3: Branding and Packaging
  Allocate a small portion of your budget for branding materials like labels, tags, and packaging materials to create an appealing and professional look for your candles. Consider eco-friendly packaging options to cater to environmentally conscious customers.
• Step 4: Marketing and Sales
  Set up an e-commerce website or utilize online marketplaces like Amazon or Flipkart to sell your candles. Leverage social media platforms to showcase your products and engage with potential customers. Collaborate with local gift shops, boutiques, or lifestyle stores to reach a wider audience.

Remember to conduct market research, analyze customer preferences, and stay updated with the latest trends in the DIY arts and crafts industry.

Unlike our first few options, DIY seems to be more creative, less profitable, and very niche-specific. So if you’re looking to do something in this area, this is the business idea for you.

 

7. Tutoring services / Academy

To help us get through the class, we’ve all gone to separate academies and studied under various tutors. It wasn’t well known at the time, but giving tutoring services is a lucrative business venture. This company concept would undoubtedly necessitate a location and a crew. Your students will expect you to provide them with properly qualified tutors for each subject.

To continue forward with this venture, you’ll need to figure out what grades and topics you’ll teach, how many students you’ll need to enroll at first, how many professional teachers you’ll need and where you’ll get them, and how you’ll publicize your academy.

 

8. Web Designing

Not to add that, to start and run this tiny business, you’ll need more than just money. You can choose whether to work in a group or on your own after you have the necessary information and resources. You’ll need a suitable setting, a suitable working name, and knowledge of how to attract good clientele through marketing.

People nowadays are more interested in new technologies than in traditional methods. This is why creating a website for someone else can be beneficial to both parties. You’ll know how to take your ability to the next level once you start charging for it from the comfort of your own home.

 

9. Doorstep delivery service

People hardly have time to go out and do tasks as they used to in today’s fast-paced world. This includes grocery shopping, clothing purchasing, and food purchases. In such a situation, a delivery service that delivers all necessary items to the customer’s doorstep would be a fantastic idea.

People will save time and energy by not having to go out and accomplish things independently. You’ll simply need transportation to travel about and a working communication gadget to link you to the individuals who can help you. An app can also be used in this business to connect you with the public so that they can place orders online and you can keep track of them.

 

10. Housekeeping services

With a growing population finding homes in metropolitan areas, the cost of maintaining these homes has also climbed. Finding lodging has always been challenging, but you can make it easier by offering housekeeping or cleaning services.

There are many housekeeping-related work that you can do. For instance, you can start a pest control services business by offering effective solutions for the removal and prevention of pests such as insects, rodents, and termites in residential and commercial properties.

One profitable business idea is that you can provide comprehensive cleaning services for offices and commercial spaces, ensuring cleanliness and hygiene through tasks such as dusting, mopping, vacuuming, restroom cleaning, and waste disposal.

 

How ProfitBooks Help Turn Your Business Ideas Into Reality

ProfitBooks can provide you with any associated assistance you need to grow your business.

ProfitBooks assists people in developing and successfully running a company by using a variety of strategies, such as providing insight into spending under 3 lakhs to expand economically. This will include instructions on how to preserve your assets, make prudent investments, and boost your cash flow.

Not only that, but ProftBooks will also lead you to programs that provide startup funding. This will assist you in accelerating your success. Visit www.profitbooks.net for additional details.

Find out how ProfitBooks can help you with your accounting needs!  Create your account for free today.

 

Also Read:

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• How to do Accounting for Small Businesses
• Top Financial Mistakes Small Business Owners Make