Mumbai is not only the most populous city in India but also its industrial and entertainment capital. You don’t have to look for markets outside of the city when there are so many excellent business opportunities right there. It contributes to about 5% of the country’s GDP and has been rated among the top ten commercial centers in the globe. There are several thriving corporations operating in Mumbai but that doesn’t mean an entrepreneur can’t work their magic and make some big bucks there.
If you are low on capital and do not have tons of resources at your disposal, don’t worry. Once you find your niche, it’s relatively simple to organize your small business and a steady income will begin to trickle in. if you cannot afford to setup your own company then look for business for sale Mumbai. It takes a lot of hard work and patience in the beginning but consistency will pay off in the end.
There is a lot of cultural diversity in Mumbai but one thing people can’t get enough of is food. No matter what cuisine you bring to the table, you are bound to get a lot of curious customers because the residents of Mumbai are always up for something new. The local Maharashtrian cuisine is very popular but restaurant goers are eager to try out flavors from all the other states and countries. Thai, Chinese, American and Italian cuisines have developed a large following in the city.
2. Event management
Life in the city is very busy and there are plenty of events going on left and right whether they are musical concerts, weddings, corporate events, birthdays, etc. If you have got organization skills, contacts and the ability to work well under pressure, you could make a reliable event planner. Knowledge of project management is essential to run an event planning business so make sure to brush up on this subject or hire a professional to handle that aspect of the company.
3. Salon & spa
Men and women both are becoming increasingly attracted to grooming offered at professional hair and makeup salons. If you have got the proper training, experience and passion to launch such a business, you could turn into a local favorite. There has been a notable rise in the awareness for good skincare so people are coming to trust skincare clinics more and more. Since Mumbai life is exciting but hectic, the residents feel a desperate need for luxurious spas where they can come in, relax and leave rejuvenated.
4. Training school
Many people don’t find a good job immediately after graduating so why not teach your skills to other people who are interested in your field? You’d be surprised at how many students enroll at your academy. Whether it’s a language course, cooking or makeup artistry, advertise right and get started. Most students opt for international language tests like IELTS and TOFEL when they wish to get admission in foreign universities. So, having an academy that prepares them for such examinations is an excellent business.
5. Real estate agency
It’s a miracle Mumbai hasn’t run out of space with the flood of bright eyed entrepreneurs pouring in every year. You need plenty of experience and become street smart to turn into a successful real estate agent. Land is a precious commodity in the city and people think a million times before making a suitable purchase. There might be competition out there but your prospective clients seek integrity, experience, resourcefulness and good reviews. Recommendations go a long way to help you build a better business.
6. Auto workshop
As the country’s economy gradually climbs, people are able to afford modern luxuries more and more. Mumbai’s traffic is notorious but that doesn’t stop people from buying shiny new automobiles. Unfortunately, the roads are not kind to automobiles and many end in workshops on a weekly basis. One of the most important resources to have in Mumbai is a reliable auto repair workshop. It is not difficult to hire labor for your new business because people are always looking for work. A trial will tell you all about their skills. It’s crucial to have adequate knowledge about the business because as manager, you will be running the show.
So, there you have it! There are countless other options for entrepreneurs in Mumbai who are looking to buy a business or start their own. Remember to pick something you love to do because passion is half of success. The rest is hard work and smart entrepreneurship.