The world is getting smaller! Thanks to the revolution in digital technologies, it is now possible to connect with people who are miles away from us. The same advancements which make it possible to tap remote customers right from the comfort of one’s home have made it possible to start retail businesses with a small budget. It is good news for all the budding entrepreneurs looking to start small and grow big.
Well, here is the low-down on the top 20 low-cost retail business ideas for enthusiastic entrepreneurs.
1. Antiques business
The antiques business is worth millions of dollars. This is not a mass product. But select patrons of art look for artefacts that are unique and historical. You can rake in significant earnings in just a few deals.
2. Custom design and printing
Customised online designing and printing is a big business today. One can even venture into customised fabric printing or opt for printing of business cards or invitation cards. All that one has to do is display the different designs in the online catalogue.
3. Wedding services/ Event management
Most of the present-day couples who are all set to tie the knot want their wedding to be unique and arranged in a hassle-free manner. This is the reason that online wedding planners and services are in huge demand. However, starting your own event management company does not require big investments. You only need to have creative ideas and good connections with vendors.
4. Kids’ speciality store
Parents want the unique things for their kids, right from apparels to shoes. However, they don’t have time to go and buy from the physical store. It is a good idea to invest in an online kids’ speciality store. You can start by taking on-demand orders and once you have a strong foothold, you can have your own collection.
5. Organic food store/products
People are becoming health-conscious and gradually understanding the importance of buying products that are free from pesticides. This is making organic food store business an in-demand retail business. Source and sell locally available organic produce.
6. Home/ gardening material shop
Home is where your heart is! People are today willing to invest in unique home decor and maintenance products. Similarly, gardening is also turning out to be a passion for people of all age groups. So, naturally, home and gardening material retail stores are in good demand these days.
7. Second-hand books (online + offline) store
Even in the age of online books, printed books are not out of fashion. Further, like new books, even second-hand books (novels or study material) are in great demand. This makes second-hand books store a good business.
8. Blood diagnostic centre (with standardised tests)
Routine check-ups are a must in today’s hectic life. But most diagnostic centres are not located near your house. If you start a blood diagnostic centre with just the standard tests, then also, you can make profits. You can tap into the regular testers near the centre and even provide home sample collection service. Of course, you will need the appropriate qualifications for the same.
9. Massage centre (with automated equipment)
A quick massage can do a world of good to a tired body. These days, you do not even have to give a manual massage. There are automated equipments that can do the job and you only have to count the booty.
10. Pet guest house/ veterinary
With pets being more loyal than human beings, you will find that there are pets in lots of homes. Naturally, the need for pet guest houses and veterinary is also on the rise. People lodge their pets here for a fee when they are on travel.
11. Clothing boutique with custom designers/ online boutique
Clothing boutique can never go out of fashion. If you have the creative finesse and know fabric designing, then you can use it as a good retail business opportunity. You can start the business online or offline.
12. Gift shop/ online gift store
People are so busy that they do not have time to personally go and buy a gift from a physical store for their loved one. Online gift stores are therefore in demand where one can select one of the best gifts and the same is delivered to their loved one’s doorstep easily.
13. Home tutoring/ education services
If you have the right qualifications and know the art of teaching, then home tutoring is a great idea. The most attractive part is you do not have to make any investment, barring a few books.
14. Yoga/ fitness service
For inner peace and physical fitness, people are moving towards yoga. There is huge demand for yoga instructors. You can even have your own app and build a loyal base after that.
15. A speciality restaurant with a limited menu
If you can cook up a tasty meal, then venture into speciality restaurants business where you can have just a few things on the menu and serve them at a place for a specific duration.
16. Landscaping service
Landscape designing and architectural and landscape maintenance services are in demand these days by big houses, commercial properties and hotels.
17. Fruits and juices outlets
Here is one delicious retail business which can never be short of customers. You can make it trendy with colourful and tasty combinations.
18. Men’s and women’s accessory store
Men and women don’t just want perfect clothes; they also want the best accessories that can go well with those clothes. So, an accessory store is surely a great retail idea.
19. Coffee bar/ sandwich shop
Whether you are in college or out of college, coffee and sandwich bar is always a popular meeting place. A standalone shop near a college or offices is an idea worth millions.
20. Online e-commerce platform
To start any online business, one will need a website and an online platform. Naturally, if you are an e-commerce expert, then here is your chance to churn out lots of money with ease.
Well, while there are plenty of low-cost retail business ideas available for the aspiring entrepreneurs; it is not at all easy to establish any business, be it big or small. You can also explore other options like buying an existing business or taking up a franchise. Make liberal use of platforms like Tobuz.com to find out which businesses are on sale near you.