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5 Best Uncommon But Highly Profitable Business Ideas For Indians In 2023

 

By Nerly Shammah Jun 26, 2023

 

When it comes to running a successful business, there are a lot of factors that could either drive growth or cause a business to fall. One of them is competition. The lower the competition in a sector, the higher the probability of making a profit, especially with lower efforts and expenses. 

 

 

India, which is estimated to have over 1.4 billion people just happens to be, obviously, one of the most lucrative places to set up a business, both as an indigene and a non-indigene. In this article, we are going to look at the 5 best uncommon but highly profitable business ideas for Indians in 2023 that anyone can start up.

 

1. Ethical and Sustainable Clothing Brand

 

According to research, the sustainable clothing market in India is expected to reach $9 billion in 2025, regardless of it making up just 5% of the nation's GDP. This shows that there is a lot of room for growth as it is only a tiny fraction of the Indian business space that deals successfully in ethical and sustainable clothing. 

 

In case you're wondering what ethical clothing or fashion is all about, it is the use of organic materials for clothing such as cotton, hemp, recycled fabrics, and alternative materials that have a lower environmental impact as opposed to conventional ones. Ethical fashion focuses on reducing environmental impacts on the production of wear, this is shown in its avoidance of the use of animal-derived materials such as fur, exotic skins, and certain types of wool and its creation of a safe working environment that promotes the well-being of workers, energy and water conservation, waste reduction, and the use of renewable energy sources in production facilities. 

 

Read More On: What Is Ethical And Sustainable Fashion

 

Typically, starting up a business of this nature would be highly profitable in India because not only will Indians value these pieces, but most foreign countries' businessmen and women have their eyes on India's fashion market. The ability to create a balance between production expenses and customer-friendly pricing for wear will play a key role in the success of this business in India as most foreign buyers seek to deal in bulk with brands that know how to serve them in the best possible pricing model. 

 

2. Professional Organizing Services

 

Have you ever met someone that doesn't need a helping hand? That is highly unlikely, at some point in anyone's life, there's always the need to outsource certain labours and here's where you, potentially come in.

 

Professional organizing services offer assistance to individuals, families, or businesses in organizing their spaces, belongings, and schedules. What sets them aside from all regular organizing parties is their expertise in creating functional and clutter-free environments. The good thing about setting up an organizing agency is that the competition within the Indian market in professional organizing services is still relatively low. Also, the cost is also low as very little of physical structures are needed for such a business to materialize, grow and scale effectively. 

 

That said, marketing and educating the public about the benefits of professional organizing services are crucial steps for professionals in this industry to build an awareness that helps their businesses grow. 

 

The leverage of this increases a business's chances of gaining word-of-mouth referrals which is crucial for expansion. Anyone setting up a professional organizing service in India should also consider building an online presence through owned websites, social media, and collaboration with complementary businesses such as interior designers or real estate agents which would help them expand more effectively as these businesses are direct links to potential clients. 

 

How much can you earn from a professional organizing service in India? Well, the income really depends on your personal pricing model, however, an estimate of over 570 Rupees($7) to over 2450 Rupees($30) is a potential hourly income of a professional organizing service. This means that you can earn as much as 737694.00 Rupees($9,000) a month considering a daily average of 10 hours of work at current rates. However, factors such as your personal pricing for work which of course may be affected by the nature of the labour come into play, this could potentially decrease the income or increase it. 

 

3. Virtual Reality (VR) Arcade

 

Everybody loves to have fun once in a while, some usually result to playing mobile games on their phones while others seek video game experiences. Virtual reality games however are twice as fun when compared to the above-listed games, with the growing interest in the Metaverse, Web3, cryptocurrencies and blockchain technology, setting up a virtual reality arcade in a crypto-growing market like India is only quite lucrative. 

 

The benefits of this is that the pricing could be quite flexible allowing you to make a profit and at the same time allowing just about anyone to get to experience the immersive reality that stimulates excitement. One way to maximize one's arcade business would be to leverage the growing market of blockchain Metaverse games, by this, individuals could be incentivized to play and earn, where the company makes money from playing time costs and commissions from potential earnings, a win-win situation. 

 

4. Professional Drone Services

 

Offering professional drone services is quite a niche business in India as we know that the nation is filled with photography lovers. A typical drone service covers the photography and videography of events of a wide range, real estate coverage for marketing, tourism coverage, agriculture, and more.

 

 

Adding a taste of professionalism to drone services entails building structures that allow the business to scale with ease. This could involve leveraging online spaces like YouTube to publish demo coverages with diverse sectors, this increases your chances of attaining clients fast as YouTube is one of the largest spaces for events marketing, real estate and basically anything business-centric that you can think of. In addition, by using YouTube, your drone business stands a chance of earning secondary income if your coverages are being monetized by YouTube. 

 

That said, typical outlook on the nature of the business and its target markets, running a drone business can generate as much as 57376.20 Rupees($700) a day, depending on the requirements of the job, sometimes of course, it can be significantly higher. All that is needed is expertise in the field of coverage and the acquisition of a few gadgets, all else boils down to marketing and branding which as aforementioned, YouTube is a great place to start. The competition, when it comes to photography in India may be significant, however, when we bring "professionalism" into the mix, the numbers begin to shrink amongst photographers and videographers. 

 

5. Eco-friendly Packaging Business

 

Eco-friendly packaging has to do with the use of packaging materials and designs that have a minimal impact on the environment throughout their lifecycle. This process is being adopted by a number of businesses to reduce waste, conserve resources, and minimize carbon emissions associated with packaging production and disposal. 

 

Setting up an eco-friendly packaging business in a large business space as India is quite lucrative as not only is the cost low considering the obvious minimalistic use of resources of which are in numbers in India but also, the Indian production market is quite a large space that could use a handful of such businesses to keep their products flowing into the system without causing high harm to the environment or at least, minimalizing the impact. 

 

Eco-friendly packaging involves the use of Biodegradable, Compostable, Recycled, Minimalistic, Reusable, Efficient and Sustainable packaging materials as opposed to the use of intensively toxic components and several layers of packaging materials for products which in turn sends more waste to landfills increasing environmental pollution. Setting up an eco-friendly packaging business in India would help mitigate the exposure to pollution driven by packaging wastes, which is a need in the current society, so not only will it be highly profitable, it at the same time will be helping improve society just as the aforementioned ethical and sustainable clothing business. 

 

In conclusion, the Indian business market is rapidly growing, there are of course numerous ways to get started, the above-listed business ideas are carefully curated with numerous factors as discussed above being considered for the best possible outcome not only for you as a soon to be a business owner, but also to the target market and society at large.