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 compiled a list of inspiring social entrepreneurship business ideas for new entrepreneurs.
You can initiate any type of social enterprise in 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 society. There are several ways, you can initiate a social welfare business in India. However, creating the right business model is a crucial aspect.
List of 10 Social Entrepreneurship Business Ideas
#1. Craftsmen’s Marketplace
In India, handicraft is a prominent industry. However, often craftsmen do 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 on craftsmen of our country. Furthermore, craft items always fetch great margins from the seller.
Related: Profitable Art & Crafts Businesses
#2. Open a Creche
The demand for the creche in India is increasing very fast. Because the number of working women is growing. Additionally, people living in urban areas (cities and towns) are more likely to need creche and child daycare 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.
Suggested Read: How to Start Daycare Business from Home
#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 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 entrepreneurial skill development institute. If you have the right knowledge, you can start this business by 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 membership in the cooperative. And cooperative offers different products and services at a 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 with staying in the cities. Generally, single accommodation is costly. And another issue is safety. Here you can help them by establishing a working women’s hostel. A secure staying facility only for working women that also provide food.
It is a profitable and immensely self-rewarding business for any individual. However, the business demands strategic planning and moderate initial capital investment.
This is another great business in the finance industry. However, you must have a substantial capital investment in starting the business. In addition, there are a lot of formalities in taking licenses and permissions from the Govt. authority.
Related: NBFC Registration in India
#7. Non-Profit Preschool
Preschools generally provide early education and care for children aged between three and six years. However, there are some who 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 relationships with 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 a safe and secure old-age home is growing very fast.
You can start an old-age home business both in 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 the right business model is the most important aspect of 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.
#10. Women Empowerment
This is one of the best social enterprise business ideas. You can set up a unit or group where women will produce different products. And the company will take responsibility for 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 lifetime satisfaction and achievements. We hope this list of 10 social enterprise business ideas will give you a logical direction toward starting a business.
Editorial Staff at NextWhatBusiness is a team of Business Consultants having years of experience in small and medium scale businesses.