written by | April 26, 2022

Service Businesses to Start Today

There are currently many possibilities for entrepreneurs in India to make a name in the new service business industry. When it comes to start-ups across India, though, getting off to a good start is crucial for the continued success of the service-based business. Today, buyers are looking for goods or services that are faster and less expensive. The service industry's attractiveness originates from the fact that it offers low-risk opportunities.

As a non-infrastructure-centred firm in the start-up phase, the break-even happens substantially sooner than other businesses. What renders the service business much more tempting is that it could produce modest returns at first, but as it grows, there is no preventing the enterprise from scaling up.

Did you know?

The service-based business sector accounts for 55% of India's GDP. 

Excellent Business Ideas for Service Industry

We have some great business alternatives for ambitious service providers. These concepts are not comprehensive but typical of the service sector's business potential. So, let's look at some business ideas that you can begin with for very little money and get a great return on your investment.

Coaching Classes

Why not put your skills to good use and spread your expertise if you enjoy teaching? It's a feasible business strategy that can pay you well regularly. It features a zero-cost entry point because you can take classes at home and reduce accommodation and travel expenses. All you need to do now is save enough money to buy a whiteboard and markers. You can advertise it by posting it on social media or posters and flyers. 

Also Read: Top 10 Cities for doing business in India

Recruitment Services

Recruitment services can be a prosperous and high-return service business where you assist busy customers in finding the best-qualified applicant for their company. Your task entails evaluating the background and interviewing the best people in the industry. You'll need to identify a good candidate for the job, and you'll be able to charge a significant amount for your assistance.

Event Management

If you enjoy parties, this is the one for you. Event planners never spend on an office when they first start. To be a good event planner, you must have excellent communication skills. Screening out numerous sites, hosting meetings, arranging activities and being available 24 hours a day, seven days a week will all be part of your job.

This business can generate a lot of money if you combine it with an excellent digital marketing approach. It's also crucial to record your prospects while you arrange your events. By following up with many clients, you'll be able to coordinate your efforts. A lead management system will come in helpful if you have a large number of prospective clients.

Real Estate Agent

Being a real estate broker and making quick bucks can be a thrilling experience. All you need are good communication and networking skills. You can start your business with a bit of investment. Finding suitable property for people to rent or purchase would be part of your job. You can earn a hefty fee for each sale.

Travel Agency

In India, the travel business has exploded in the last decade. People explore the world for a variety of reasons. It's an excellent time for ambitious travel entrepreneurs. Starting a travel agency is a low-cost, high-return venture. You should partner with a host agency that will assist you in obtaining an IATA number more quickly. They will also complete all operational chores for you. All you have to do now is collect a fee from your consumers.

Wedding Consultants

You can make any lucrative business idea into a firm in India. The various rituals involved with Indian weddings provide you with a great potential to receive a lot of money. In our Indian culture, people treat weddings very carefully. Launching and maintaining a good website is an essential expenditure where you can contact your potential clients readily.

Online Fitness Instructor

In this electronic era, fitness has risen to the top of the priority list. It is vital to the body's functioning. With the quick pace of life and hectic schedule, it isn't easy to physically go out to the gym and begin training. Isn't it simple to meet somebody at home to help you get fit? That's what online fitness trainers do.

If you're a fitness fanatic, you'll need to upload fitness videos on several websites to get others to follow you. If your content is engaging and original, you may quickly establish a strong internet presence and earn a good living.

Photography Services

This one is great for you if you already have an artistic eye and therefore are attempting to capture the atmosphere. A photographer's personal and technical skills are continually in demand. Spend time establishing your public profile and on other freelance platforms so that you can get leads. You could also work with a professional photography agency right away. 

Search Engine Optimisation Services

Why not create a directory service business that improves local SEO by populating all accessible indexes with business listings? Create your online network and register firms to list in it. Because you can charge the customers' advertisements each year, it's a terrific approach to collect long-term revenue. You can use addresses in Google, yellow pages, regional directories and other sources to find all local listing options.

Café

In India, tea is considered a necessity, and this is also a business that will never lose money. In an economy like India, it would always be profitable when there is a café industry. You need to rent a room and purchase some basic furniture. Design your cafe western or a teahouse, depending on what you desire or believe your potential market needs. Ensure you locate your business near a university or an IT park for a greater return. 

Food Truck Business

Food may always accomplish miracles as a commodity, even in a highly competitive market. Because demand is great and time is short, opening food restaurants in a movable van is becoming increasingly common. If you already own a four-wheeler or a minibus, you can modify and convert it into a stunning food truck. Although if you don't have your establishment, you may still invest in this business with EMI alternatives as low as ₹10,000.

Also Read: Successful Small Business Ideas for Indian Entrepreneurs

Blogging

Blogging may be a very profitable and low-cost enterprise to start. Companies are looking for qualified and skilled bloggers to assist them in creating web-based content for their websites, and it has evolved into a basis for thriving businesses and start-ups. People recognise bloggers as content creators and social media influencers.

In today's digital world, this is a very successful business concept. All one needs is a domain name and hosting room from a web hosting service provider to get started. Social networking is your only hope for getting your material out there.

Tiffin Services

Individuals who can prepare and distribute tiffin services for business lunch or dinner might benefit from the great results. Busy professional households in India would gladly pay for your skills if they needed meals in their workplaces or at home. Reliability can also help you land many corporate contracts or customers if they have an event or special occasion coming up.

Conclusion

Last but not least, each service business strategy has its own set of benefits and drawbacks. However, before pursuing any business plan, you should analyse all considerations. 

Lastly, the path of growth that you desire has a significant impact on where you end up. If you expand too fast, you risk stretching yourself too thin, and if you progress too slowly, you will never get anywhere.

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FAQs

Q: Do service businesses charge sales tax?

Ans:

Which firms are liable to sales tax is eventually a decision made by each state. When starting a service business, make sure to check with your local and state agencies to make sure you're following the rules.

Q: How do you calculate the break-even point for service businesses?

Ans:

You can calculate your break-even threshold by dividing the operating expenses by the selling price per unit, excluding any variable cost per unit. To start a service firm, you must first determine a business "unit". Accountants, for instance, may bill by the hour, and thus one hour would indeed be one unit. Charge by therapy, session (if you're a teacher or instructor), or individual service. The calculation is relatively straightforward once you've determined the units.

Q: How do you start a service business?

Ans:

The first step in starting a service business would be to identify a service quality gap in your community and develop a company to address it. Aside from that, it will entirely depend on the business you choose. Creating a service business plan is a fantastic starting point. During the same time, you'll begin to concentrate on many aspects of starting a business, such as your intended audience, marketing program and financial requirements.

Q: What is a service business?

Ans:

A service business delivers an intangible product offered by a group or a person. Accountancy, carpentry, housekeeping, finance and insurance are just a few examples.

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