Are you searching for social entrepreneurship ideas? Do you want to start a business that serves social welfare in the country? Here in this article, we have accumulated a list of 10 inspiring social enterprise business ideas.
You can initiate any type of social enterprise by two two ways. Either as non-profit or for-profit. However, only a for-profit organization can generate business revenue.
Generally, a social welfare activity gives huge satisfaction in life. This is the most inspiring thing that you are generating money by supporting the society. There are several ways, you can initiate a social welfare business in India. However, creating the right business model is the crucial aspect.
List Of 10 Inspiring Social Enterprise Business Ideas
#1. Craftsmen’s Marketplace
In India, handicraft is a prominent industry. However, often craftsmen not get the actual price of their products. Additionally, as most of the businesses are home-based, they can’t get the opportunity for promoting the products. You can initiate an online marketplace focused only craftsmen of our country. Furthermore, craft items always fetch great margins to the seller.
The demand for the creche in India is increasing very fast. Because the numbers of working woman are growing. Additionally, people living in urban areas (cities and towns) are more likely to need creche and child day care services. And obviously, parents need a hygienic and safe environment for keeping their babies. However, this is a service-based business aimed at babies. So, you must be enough careful in providing the best service.
#3. Entrepreneur Skill Development Institute
in our current economic system, the Govt. employment opportunities are reducing day-by-day. And the young generations have to depend on the self-employment or entrepreneurship career. However, whoever wants to start a business lacks the skill, knowledge and practical guidance. Therefore, there is always a need to set up an entrepreneur skill development institute. If you have the right knowledge, you can start this business of giving lessons on different aspects of how to start and operate a business.
#4. Farmer’s Cooperative
This is a traditional business of rural India. Here, farmers can take the membership of the cooperative. And cooperative offers different products and services at the reasonable price. According to your local crops and demands, you can start this business.
#5. Hostel For Working Women
Single women face a massive problem for staying in the cities. Generally, a single accommodation is costly. And another issue is safety. Here you can help them by establishing a working women hostel. A secure staying facility only for the working women that also provide foods. It is a profitable and immensely self-rewarding business for any individual. However, the business demands strategic planning and a moderate initial capital investment.
#6. Microfinance Facility
This is an another great business in the finance industry. However, you must have the substantial capital investment in starting the business. In addition, there are a lot of formalities in taking the licenses and permissions from the Govt. authority.
Preschools generally provide early education and care for children aged between three and six years. However, there are some may be licensed to take children from two years of age. Preschools are warm and welcoming community hubs for the kids. Here, children learn to communicate, connect with and how to build the relationship with the others. Read More…
#8. Old Age Home
Establishing an old age home is a very promising and inspiring business nowadays. More and more our life is becoming tough, the senior persons are facing tremendous insecurity and negligence. Therefore, the demand for the safe and secure old age home is growing very fast. You can start the old age home business both in the rural and urban areas. However, it hugely depends on the expectations of your target demographics.
Starting an orphanage is not an easy business. Basically, crafting a right business model is the most important aspect in this because. As you are providing a home for the orphans, then no one is going to give you the fees. So you must think about a valid business model to sustain the business.
Related: How to Start an NGO in India
#10. Women Empowerment
This is one of the best social enterprise business ideas. You can set up the unit or group where women will produce different products. And the company will take the responsibility of the marketing and distribution of the products. There are several popular items in the food, apparel, and home decor segment. Additionally, this is also a proven business model in India.
A business that addresses a social cause always provides a lifetime satisfaction and achievements. We hope this list of 10 social enterprise business ideas will give you a logical direction towards starting a business.