Upcoming business opportunities in India

Here are some of the best business opportunities you need to consider before you actually start a business

by Swati Bucha on 03/02/2018
When you think of establishing your own business, you might envisage a shop with lot of products, and many customers coming to your shop to buy those products. But, it doesn’t have to be this manner. With the e-commerce boom, you can consider starting a business online, often with little to no investment. Following is a compilation of a few upcoming business opportunities that can help you start a new business. Take the time to consider the best business opportunity before you actually start working on one.

Sell a product online
This is probably the top model that comes to mind when you talk about the upcoming business opportunities in India. All you have to do is create a product and start selling it online either via your own website or a marketplace such as Amazon. If you do not want to take the hassles of manufacturing a product, you can source products from the market and sell it online. As compared to selling offline, there are several benefits to selling your products online. First of all, your customers can check your product offering without having to visit your physical store. Your customers also get to see the photos of your product, customer reviews and ratings, product description, shipping date, etc. that can give customers more information than they would hardly be able to inquire in a brick and mortar store.

Sell a service online
Certain services are sold and delivered online. A few examples of these services include personal services, home services, travel, entertainment among others. The benefit of this model is that your customers get an instant satisfaction as soon as they book a service online. They don’t have to wait to speak with someone or make an appointment to avail the service. One of the benefits of selling a service online is that it can be much less expensive to acquire customers via a well-built website or a third-party marketplace than through traditional, offline methods. Your customers can easily receive a lot of information about your product online and don’t have to travel to check out their options. Also, you can easily promote your service-based business via various social media websites, such as Instagram, Facebook etc. As compared to other advertising mediums, social media website is still relatively cost-effective for small businesses.

Sell a digital information product online
For those who do not want to take the hassles of traditional businesses like inventory, overhead, employees, etc. can try selling informational products online. An informational product is typically associated with e-books, (such as Kindle) audio recordings, or digital video recordings. Basically, it is some kind of content stored in a digital format which is suitable for selling online. When you sell informational products online, they are delivered electronically and payments are automatically handled. Amazon Prime is one such example. Because little to no cost is involved in delivering these products, you tend to get good profit margins. Once the product is actually created, selling digital information requires very little maintenance time.

No matter what business you choose, you will most likely be handling some of your business a dedicated computer. Without the right protection, any digital attack on your computer can severely damage your business. In order to protect your business against various cyberthreats, you can use antivirus and security software.

So what are you waiting for? Carefully consider the resources you have and make the most of the upcoming business opportunities. Also, if you want to start your online business now, register with Amazon. In case you want to learn more about online selling, go through our Start Selling Guide.
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