If you are an absolute beginner, then starting a retail business is always a better alternative than manufacturing. Additionally, a successful retail business ensures regular cash flow from the first day of operation. Find here in this article list of profitable retail business ideas that can be started with very low investment.
Basically, a retail store sells the product directly to the end consumers. Therefore, a location plays the most important role in the success of a retail business.
Is Retail Business Profitable?
Currently, the global retail market is growing very fast. And definitely, there are some reasons behind this growth. The list includes rising GDP growth, burgeoning population, greater disposable income, and increasing consumer spending.
The retail industry comprises establishments engaged in selling merchandise or commodities for personal or household consumption. The spectrum of the retail industry is huge and it includes industries like apparel and accessories, technology, food and beverages, home improvement, specialty, pharmaceuticals, and others.
40 Retail Business Ideas
#1. ATM Space Renting
The demand for ATM space is high. The banks usually rent the space for a certain amount of years and the contract is renewed every two or three years. If you are looking forward to a fixed monthly income, ATM space renting is a good retail business proposition for you.
#2. Aquarium Business
Depending on your location, investment capacity and expertise, there are several ways to start an aquarium business. You can start it from home or on from a retail storefront. With small to moderate investment, you can expect a handsome return from this business within a short duration of time.
#3. Auto Spare Parts Shop
If you want to start a retail business in the automobile industry, then you can consider starting an auto spare parts business. This business is highly profitable. Additionally, it ensures good revenue return to the entrepreneurs.
#4. Auto Accessories Store
Auto accessories store is considered one of the most profitable retail business opportunities in India in the automobile sector. You can start the business on your own or by purchasing a franchise of a renowned brand.
#5. Beauty Salon
A beauty salon is now is one of the most trending and emerging businesses in India. There are so many successful retail brands you will find in this segment. You can start the business with your own brand, or by purchasing a franchise.
#6. Bridal Store
A bridal store focused on specialty wedding attire with allied wedding supplies products is a profitable retail venture in the clothing and fashion industry. Even in a poor economy, brides-to-be and their wedding parties spend a lot of money on bridal attire and wedding accessories because weddings are memorable once-in-a-lifetime events.
#7. Cake Shop
Cakeshop with another different variety of some ready-to-eat food like a sandwich, pastry, ice cream, cold drinks, and dry sweets is a profitable retail business you can start with moderate capital investment.
#8. Cartridge Refilling Store
Cartridge refilling store is a proven successful retail opportunity in India. By having simple equipment and raw material, you can start this business in any location where a considerable amount of cartridges is being used.
#9. Coffee Shop
A coffee shop in India is an emerging opportunity for new entrepreneurs. You will find so many organized retail brands in the coffee shop industry that are franchises also. Interior, ambiance, and comfortable sitting arrangements play an important role in establishing a coffee shop business. You can also consider buying a coffee shop franchise if you can afford a reasonable investment.
#10. Cosmetic Store
As people are becoming more beauty and appearance-conscious the demand for cosmetic products with body care, skincare, haircare, and personal care products are also increasing. A cosmetic store with a variety of branded and non-branded products is a profitable retail business opportunity.
#11. Crockery Store
People buy crockery items not only for personal use but also for gift purposes. Crockery store with a different variety of products in the different price ranges is a profitable retail business to start with substantial capital investment.
#12. Diagnostic Center
The medical service industry is booming now in India. The diagnostic center can be initiated as your own business or by purchasing a franchise of a renowned brand with substantial capital investment.
#13. Fitness Center
Fitness Center or gymnasiums are attracting people of all ages including men and women. Growing disposable income coupled with raising awareness of a healthy body is helping the Indian Fitness & Slimming Industry to grow at an exponential pace.
#14. Gift Shop
The phenomenal economic development of the country, rising income levels, and exposure to international trends have changed the face of the Indian gifting sector. A gift shop with innovative and personalized collections of presents to deliver a satisfactory gift-buying experience to customers like Experiential gifts, Personalized gifts (You can personalize any product with a message, photo, or a quotation),
Several new kinds of products like Gold Plated Roses, soft toys, greetings cards are very popular items.
#15. Grocery Store
A small-scale grocery store is still a very lucrative business in our country. The most interesting aspect is the business doesn’t demand any special skill or expertise. Additionally, the business is an equally attractive proposition for both rural and urban entrepreneurs.
#16. Hardware Store
A small hardware store is a lucrative proposition in India. Generally, hardware stores keep a wide range of items. And it fully depends on the local market demand. You can start a hardware store with moderate capital investment. It is advisable to keep a product range with both branded and non-branded products. Basically, it helps to attract various customers with different needs.
#17. Ice Cream Store Business
Ice cream store business with allied products is a profitable retail venture in India. Selecting the right location with the right product is most crucial in this business.
#18. Kids Store
Kids store business can be initiated in small towns also. If you are starting your own store, then proper sourcing and inventory management plays a vital role in the success of the venture.
#19. Kiosk Business Opportunities
The small kiosk is a successful retail business model in India. And kiosks are becoming more popular in our country. Because it allows you to open a retail outlet with little money.
#20. Kitchen Store
Kitchen store is a traditional business globally. Still, in this era of the internet, people prefer to buy kitchenware from a brick & mortar store. That is why the kitchen store business is a lucrative and profitable business opportunity for small business entrepreneurs.
#21. Leather Store
A leather store with specialty products like different handbags, travel bags, wallets, belts, and stationery items is a profitable retail business venture.
#22. Medical Store
Medical Store can be initiated as small-town retail also. It is a very lucrative business margin-wise. Also, you can offer allied products like baby food and personal care products.
#23. Microbrewery Pub
Basically, a microbrewery or craft brewery is a brewery that produces a small amount of beer. Exact definitions may vary. However, the terms are typically applied to breweries that are much smaller than large-scale corporate breweries.
#24. Organic Food Store
The organic food market in India is growing at a compounded annual growth rate (CAGR) of 20-22%. This is an emerging retail business opportunity for the entrepreneurs, provided you maintain the quality of the products.
#25. Petrol Pump
The Petrol pump or fuel station business is certainly a lucrative business in India. However, this is a cash-intensive business overall. Petrol pump is a traditional business in this part of the world. Additionally, the business offers sustained cash at little risk along with some prestige.
Sending a child to a pre-school, rather than teaching them the basics at home, is now being considered more effective by parents, even in Tier-3 and Tier-4 towns. The drivers are growing the middle-class population, rising income levels, and escalating demand for high-quality education for toddlers. Rapid urbanization and the rise of nuclear families are the other factors that are fuelling the demand for branded pre-schools in Tier-2 and Tier-3 cities.
Learn More: How To Start a Preschool Business
#27. Open a Restaurant
The food and beverages industry is one of the fastest-growing industries in India and the restaurant business is considered one of the most profitable and lucrative retail opportunities.
#28. Shopping Mall
The shopping mall is an emerging and lucrative business in India. However, the business demands the right strategic planning with financial and marketing planning. Nowadays, the shopping mall is not a business only for metropolitan cities. If you have a good location with sufficient space, you can build a shopping mall. However, there are a lot of other factors that you must consider.
#29. Sugarcane Juice Business
Basically, sugarcane juice is a very healthy beverage. Particularly, in the summer season, you can mark the huge demand for fresh juice. However, you can turn your sugar cane juice business into a profitable retail venture throughout the year.
#30. Tea Stall
Did you know the popular brand ‘Tea Junction”? Yes, this is a retail franchise brand of tea stalls. According to the location, you can open a tea stall in a wide range of formats. However, it entirely depends on the local demographics.
Travel and tourism are the largest service industry globally in terms of gross revenue and foreign exchange earnings. Indian tourism offers the most diverse products globally. The country’s rich history, cultural heritage, beauty, diversity of religion and medicine fascinate budget and luxury travelers. Tourism in India has registered significant growth over the years.
#32. Vape Shop
Basically, it is an emerging business in the retail industry. Also, opening a vape shop is comparatively easier and less costly than others. However, proper market research and finding the right location are the most important considerations in this business.
#33. Women’s Specialty Clothing
Women’s specialty clothing is a profitable retail business opportunity. It may be a boutique store or designer saree store or casual wear store. According to the local market demand, you must choose the right product.
#34. Xerox Shop
Xerox shop with allied services like lamination and bookbinding is a very lucrative business in India. Any individual can start this business with a small startup capital investment. Additionally, this business is one of the best low-cost self-employment opportunities for youths.
#35. Yoga Studio
The yoga studio business in India is considered a profitable and lucrative retail venture opportunity in the health and wellness industry. The increasing awareness of consumers from remedial care to a preventive care approach has created an enormous potential of initiating a yoga studio for entrepreneurs.
#36. Alter Shop
If you enjoy sewing and making the outfits most perfect for others, you can consider this business. Basically, an alter shop is an evergreen business. Additionally, the business demands a very small capital investment. Even, you can start with a 100 Sq Ft retail space.
#37. Book Store
A bookstore is one of the most profitable retail businesses in the education industry. Additionally, you can sell other items like copies, pen pencils, erasers, and other stationery items from the same store. Depending on your investment capacity, fix the business model and size.
#38. Crockery Store
This is another profitable business you can start both in the small towns and metro cities. However, select the location carefully. And keep the right product according to the taste and requirements of your local consumers.
#39. Eye Accessories Store
This is an emerging business these days. Additionally, technology is upgrading every day. You can start an eye accessories store with spectacles, lenses, and frames. If you don’t have any prior experience, you can start with a franchise also.
#40. Furniture Retailing
Furniture retailing is also a very profitable retail business to start. Any individual can start this business even with small capital investment. You don’t need to produce furniture. There are several furniture manufacturing companies that offer a good retail commission to furniture retailers. Also, you can sell both branded and non-branded furniture from your shop.
This list of 35 profitable retail business ideas will definitely help you in getting information about the current retail industry that will help you in taking the decision of initiating a retail business venture of your own.
Editorial Staff at NextWhatBusiness is a team of Business Consultants having years of experience in small and medium scale businesses.