If you are tired of working for others and want to be your own boss, there is good news. Start-ups are in vogue now more than ever. We have got you covered with everything you might want to know about starting your own business. But not all start-ups will or can succeed. There are some ideas that are more likely to succeed than others thanks to their inherent appeal and proven business model. Being an entrepreneur may be tough, but smart work can ease the way for you. Here are the 10 most successful startup ideas for your startup.
With the surge in e-commerce, the demand for more logistics and reverse logistics companies, especially in Tier-2 and Tier-3 cities, has risen exponentially. Smaller cities face a lot of issues in case of timely delivery or pick-up and that can be solved by logistics companies which cater primarily to these cities. While the metros enjoy same-day delivery and grocery delivery within an hour, the smaller cities do not. This startup idea, therefore, can prove to be profitable if implemented in smaller cities.
There is a huge gap in reverse logistics also where more partners are required who can facilitate the return of goods from the customers to the warehouse.
In today’s world, skills such as Machine Learning, Artificial Intelligence, App Development, Data Science, Social Marketing etc. are highly in demand. The skills required keep changing every few years, as a result, people who do not keep themselves updated lag behind their contemporaries. To meet the gap in supply and demand, there is a need for ventures which cater to the digital skill shortage, more so in smaller cities and villages.
Have you seen the recent bestseller in your neighbourhood bookstore? Chances are it is a self-help book. When these fly off the shelves like hot cake and the seminars by motivational speakers get sold out every time, it is understandable that people world over need constant guidance and motivation and if that sounds like a thing you would be good at, then it’s time you start your own career coaching venture. After all, what can be more satisfying than inspiring people for a living? It is the perfect way to make a difference in the lives of others and work with people of all ages, be it a college graduate in search of his first job or an experienced executive looking for a career change.
You do not need to be an Amazon or eBay to get into online retailing. There are tons of small companies which cater to places in which the big companies have a limited presence and deal in products, which are meant for small but highly profitable niches. You might not even need your own website when there are so many online marketplaces where you can sell your creations.
Co-working spaces, quite popular in the US and UK, are gaining traction in countries like India and China too. Co-working not only provides an open, barrier-less environment of like-minded individuals, it is quite cost-effective too for small companies. You get all the facilities of a modern office space at a fraction of its cost. Companies like 91springboard, Hacker Dojo, The Pad etc. offer some of the best co-working spaces for start-ups.
Fitness is on everyone’s mind today. Neglect of one’s health is no longer an option. When traditional sugar-laden soft drink companies like Coke and PepsiCo are taking notice of this trend and coming out with their own healthy beverage and snack options, you can comprehend how lucrative it is. While proper training and licensing might be needed to be a fitness trainer, once you get started, you can get clients of all ages and from all walks of life looking for your services. Health Consultancy is the more appropriate term in today’s context, where you are helping your clients achieve a holistic view of their health with proper diet and lifestyle choices and not just exercise.
Events can be as small as a birthday party and as big as the Oscars. Event management is among the most scalable startup ideas. This industry has grown tremendously in the past decade and is currently worth $500 billion globally. As an event manager or planner, you would have to deal with everything from research to event design to arranging for food to site supervision. There are even certifications available such as CSEP (Certified Special Events Planner) and CMP (Certified Meeting Planner) if you think you need more credibility to grow your brand.
Child or Elder Care
This business idea might be in its nascent stages but has tremendous scope to grow in the future. Senior citizens, children with special needs or just children, in general, need daycare when their children or parents might be busy with work and other responsibilities. Daycare for seniors does not only involve basic care but also entertainment and socializing options for them, because of which such services are witnessing a significant increase in customers.
Household Services/Products on Rent
Services like plumbing, carpentry, cleaning etc. can be obtained from companies for a certain amount of time for a certain fee. The same applies to products like furniture which can be rented as per your convenience. Such companies provide a one-stop solution for all your household requirements and are in great demand today. All you need is to build upon your startup idea by building a brand and investing in clever marketing strategies.
If social entrepreneurship is your calling, then you should seriously consider this option. You can make millions from recycling. The need for such ventures is more pronounced in developing nations like India, Brazil etc. The kind of stuff that can be manufactured from the non-biodegradable part of the waste is staggering. Degradable waste can be converted into bio-fuel. The scope is vast. The right mind is what is required.
This startup idea has also given rise to the recommerce business model which includes recycling and reselling old tech products online.
Now that you have some great ideas at your disposal, do not limit yourself to these. This is not an exhaustive list by any means. You might have great ideas in your mind which are waiting to be implemented. The focus should be to bring them to fruition and keep analyzing how the execution is going. If all fails, you have great business models to emulate but always remember that neither would you be the only player in the market nor would you have any first-mover advantage. Efficiency and productivity would be the keys to your success over your competition.
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Product Guy. Introverted Marketer. Engineer by education. Movie and TV Geek by nature. Can be seen reading comics and non-fiction books when not binging on movies and Netflix shows. Pop-culture junkie. Out and out foodie. Wee bit self-obsessed.”