top business plans with low investment

Learn more about choosing the right structure for your business from the Small Business Administration.

6. Create a business bank account.

Once you have a legally formed business and have been issued an Employer Identification Number (EIN), open a bank account specifically for your business. Having a business bank account is essential for keeping your personal and business finances separate which can help you gain an accurate picture of your business’s cash flow and financial health.

Additionally, keeping your personal and business finances separate makes bookkeeping and tax preparation easier.

Many banks offer business checking and savings accounts. Business checking accounts typically do not have a limit on the number of transactions that can take place, and issue a debit card that can be used for making business purchases. However, these checking accounts do not accrue interest.

Business savings accounts typically earn interest over time but have a limited number of transactions that can occur each month. When you’re just starting out, look for a business bank account that does not have a minimum balance requirement so you are not penalized for having low funds as you work to build your business.

7. Determine if your business idea works well from home.

Ask yourself whether your business idea will work well from home. Some businesses simply aren’t suited to be based from home. If you want to run a dog boarding center but live in an apartment without a backyard, you might want to consider a dog walking business instead.

8. Set up an office.

If your business idea is well-suited for being run from home, it’s still important you have a designated workspace. While a home office might not be possible, consider setting aside a corner in your living room or putting a desk in your bedroom for a space that inspires you and creates the conditions for success.

Need a more professional space? If you conduct client-facing work requiring you to be on video calls, no one wants to see your rumpled sheets in the background. Check out local coworking spaces for memberships that earn you access to conference rooms, desk space, and more.

9. Get to work!

You’ve put in the hard work, but I’ve got bad news — it’s only going to get harder. But most entrepreneurs will agree that the payoff of being your own boss, making your own hours, and working on projects that you’re passionate about will pay dividends for the rest of your life.

What are the types of small businesses?

The types of small business structures are sole proprietorships, partnerships, limited liability companies (LLCs), and corporations.

• Sole Proprietorship — The simplest type of business structure is a sole proprietorship, which is also the easiest to start. As a sole proprietor, you are personally responsible for the business's liabilities and profits, and you have complete control over your business. If you are a solopreneur, you are automatically considered a sole proprietor.
• Partnership — A partnership is a business model involving two or more individuals who agree to share the business‘s profits and liabilities. Each partner contributes to the business and shares the risks and rewards. It’s essential to have a partnership agreement that defines each partner's roles and responsibilities to ensure clarity and prevent potential misunderstandings.
• Limited Liability Company (LLC) — An LLC, or limited liability company, is a common option for small businesses because it protects its owners by separating personal assets from the company's liabilities. To form an LLC, the business owner must file the required paperwork with the state.
• Corporation — A corporation is an independent legal entity distinct from its owners. It provides limited liability protection to its shareholders, who are not held personally accountable for the company's debts. Corporations have formal requirements and often raise capital by issuing stocks or shares.

Which business type is best?

The best business type is a limited liability company (LLC). Operating as an LLC means that your personal assets are separate from your business assets. If your business goes bankrupt, your personal holdings won’t be affected. That said, it’s also one of the costlier types, requiring a fee paid to the state.

The easiest business type to start is a sole proprietorship. The main downside is that there’s no differentiation between you and your business.

It's crucial to seek advice from legal or accounting professionals to determine the best business structure based on your unique needs and objectives. Each structure has advantages, legal requirements, tax implications, and flexibility considerations.

How do I create a business idea?

To create a business idea, determine your skill set, work preferences, startup budget, and available resources. It’s important to strike the right balance between what you can feasibly offer and what you can feasibly afford in the short and long term.

We recommend starting with your skill set so that you can easily determine the niche in which you can effectively compete. For instance, if you have ample experience as a writer, you might consider starting a freelance writing business. But if you know you’d prefer to work with clients face-to-face, you might choose to start a ghostwriting business instead. That’s why it’s so important to take your work preferences into account, as well.

After that, take a look at your budget and determine the type of business you can start based on the resources at your disposal. For instance, you might not be able to afford a physical office or location, so a location-based business will likely not be a good fit. In that case, starting an online business is your best option.

What resources or tools can I use to refine and validate my business ideas during the brainstorming process?

Online market research tools like Google Trends, Keyword Planner, and SEMrush can provide insights into market demand, competition, and keyword trends related to your business niche. Industry reports and market analyses from reputable sources such as IBISWorld, Gartner, Statista, and industry-specific publications can offer valuable data and trends to inform your decision-making. Ensure you know the industry risk before embarking on your small business venture.

→ Download Now: Market Research Kit [Free Download]

Additionally, joining entrepreneurial communities, forums, and social media groups can provide opportunities to seek feedback, network with like-minded people, and gain insights from experienced entrepreneurs. Finally, consider conducting surveys or interviews with potential customers to gather feedback and validate your business concept before investing significant time and resources.

What are some of the most successful small businesses?

Every small business has the potential to be successful and profitable, provided it’s backed by a strong product-market fit and a robust business plan . These two elements are essential. Maybe postnatal services are one of the most successful small businesses to launch, but if you live in an area with declining population or a large elderly population, then that small business idea won’t yield a high return on investment.

Think carefully about the market where you’re launching your business, and you’ll be more than likely to see lasting success.

What are the top growing small businesses?

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Ini Patrick Notes

Top 50 Small Business Ideas with Low Investment

Looking for small business ideas with low investment for your next project? Read on, this article is the answer to that question.

In the following sections of this article, you will find proven and profitable small business ideas with low investment in different niches that are already working for many millions of people around the world.

Starting a business is an exciting prospect. However, many ideas require time, money, and risk. It is better to start with a small Business Idea with Low Investment.

So, if you’re wondering what business to start, whether it’s worth starting your own business, or just looking for a business idea, we have you covered on this.

There are two important principles by which people succeed in business:

• First, you must have an interesting business idea.
• Second, you must be determined to be successful.

Now you’re probably wondering how to find that one brilliant idea…

Before we get into that, though, let’s look at what three top mistakes you shouldn’t make when thinking about starting your own business.

Table of Contents

Mistakes To Avoid

Most people are afraid to start their own business because of the risk of losing financial liquidity. There have been many cases where even the best business ideas didn’t allow entrepreneurs to build a stable revenue stream from the start.

However, that’s probably not what you’re here for. So, we’ve identified the three most common mistakes when starting your own business so you can avoid any sudden surprises.

Very often people are not properly prepared to run their own business. The most common mistakes made by entrepreneurs are:

• They do not examine the demand for a specific service or product in the region.
• Most of them quit their full-time job before they reach financial liquidity.
• They invest all their money at the beginning of the company’s operations.

You can combine your full-time job with starting your own business with the ready-made business ideas listed in this article. Over time, as customers and orders grow, you can switch to half the time and after some time just focus on running your own business.

Alright. We already know the main mistakes to avoid. Now let’s take a look at a few things…

The Best Small Business Ideas with Low Investment You Need Right Now

Despite popular opinion, there are many ways to set up a business that allows you to focus on getting started rather than on logistics and upfront fees.

These small business ideas with low investment are ideal for novices, bootstrappers, or anyone with a busy schedule, as they allow you to start a side business without leaving your day job.

You must still come up with a great idea, build a brand, market your business and deliver exceptional customer service. However, an advantage for these small business ideas with low investment is that many of the typical starting expenses, such as initial inventory, warehousing, and retail space, can be avoided. 

It may seem that all good small business ideas with low investment and in most cases “No investment” business ideas have already been taken, but this is not the case.

Individuals who work for someone else but believe they can do better come up with most of the concepts of a successful small business venture.

Some begin their careers as employees or apprentices for other companies, then progressively gain experience and skills before setting out on their own.

For you to be successful in any of these small business ideas with low investment businesses, it is essential that:

• You love the business ideas
• Acquire the required skill set to accomplish the business idea
• You have an idea that consumers need

50 Best Small Business Ideas with Low Investment

Here is the list of the top 50 small business ideas with low investment you can start this year and beyond:

1. Affiliate Marketing

Affiliate marketing is a performance-based marketing strategy in which a company pays people, known as affiliates, to promote and sell its products.

The affiliate receives a commission every time a new customer is brought in from the company.

Click here to Learn How to Project from Affiliate Marketing Business Model

2. Fashion Designer

Isn’t it nice to have your clothing line? It is now easier than ever. You can outsource production and sell online.

You can sell on platforms like Amazon and eBay, on your website, or even at traditional retailers.

3. Self-Publishing

Some self-published authors make over a million dollars a year. All you need are a few publicly available tools and the skill to create an intriguing book that will sell for the same level of success.

This is a very good small business idea with low investment that can be started with little or no investment.

Want to learn how to profit with self-publishing?

4. Social Media Consultant

This business is great for someone who understands how to use social media to achieve business goals.

You can either be an expert (for example, running Facebook ads) or be a generalist managing LinkedIn, Snapchat stories, Twitter, and other social media platforms.

This task has become easier with the use of social media platforms.

5. Content Writer

Content marketing is the most effective strategy for businesses of all sizes to acquire customers and establish themselves as market leaders. 

6. Blogging

  It’s free to get started, but be patient, it will take time to gain visibility and grow your audience.

There is a lot of competition nowadays. There are over a billion websites and blogs, with over 200 million very active.

As excellent content creation requires a solid understanding of SEO.

7. Start A YouTube Channel

Beyond live game streaming, there are still vast, unknown waters that are full of possibilities for anyone brave enough to pursue them on YouTube .

8. Dropshipping

Dropshipping is an online business concept that eliminates the need to store physical products. 

All you have to do is create an online store and collaborate with suppliers who are ready to store, package, and ship orders to your customers.

Plus, you won’t have to waste hours researching merchandise because you can use dropshipping apps to find great items to sell.

This is a small business idea with low investment that can fly organically if set up properly. Click here to learn how to set up your dropshipping business.

9. House Cleaning Services 

Starting a home cleaning business can be a very simple route to business ownership for individuals who enjoy, or at least don’t mind, cleaning.

Very little investment is required to kickstart this business idea. Just buy basic house cleaning supplies, keep a customer base, and clean, clean, clean! (Hopefully, you will employ others as the business grows)

10. Fitness Instructor

With “Hot Girl Summer” becoming official, the demand for “summer bods” is high. Here is your chance to make a name for yourself and the best part is that you need very little investment for this small business idea.

11. Uber or Bolt Driver

If you have a car that you rarely use or if you enjoy driving. Here’s a business idea that makes money at a cost.

12. Virtual Assistant

Anyone who is compensated for doing another person’s work is called a “virtual assistant” .

Let’s say someone owns and operates an Internet store. He may need help dealing with consumer questions and queries.

A virtual assistant is paid by the hour and often works with multiple clients at the same time. The obvious constraint in this business is time.

13. Digital Marketing Campaign Manager

In a world where we have all gone digital, even the marketing sector had to jump on the bandwagon. All that is required of you is a computer, smartphone, and your creative mind, then voila! The world is yours to win.

You can also take people under your wing, mentor them and eventually hire them.

14. Child Care Services

If you love kids then this news is just for you. All you need to do is babyproof your home, to get the necessary supplies and you can go ahead and start taking care of the neighbourhood kids. (You’ll be the best version of day-care)

15. Landscaping

  This is for my ‘Green Thumb’ folks.

If you already have a passion for gardening, you most likely have the basic tools you need. You don’t have to break the bank to invest in this small business idea .

Start by helping close friends transform their gardens and then build your clientele from there. 

16. Messengers

A courier is one of the small business ideas with low investment that provides only such a service that carries messages from one person to another.

So, you don’t need much in terms of supplies or experience to get started.

17. Logistics Company

This is an era where we are all getting lazy, you too can take advantage of it.

Get bikes that can provide dispatch services for food, files, or anything else. It will be a fast, economical and profitable business.

18. Transcription Service

A transcription service is a great business idea if you have a good ear and can type quickly.

It allows you to work from home and have a flexible schedule.

Consider becoming a certified transcriptionist and delve into some of the specialities to boost your business prospects and justify charging more.

19. Freelance Copywriter

You can make a living as a freelance copywriter if you are a natural wordsmith with some marketing knowledge.

There are lots of companies that will pay you to write blogs, web content, or press releases.

You can add value by bringing SEO knowledge to the table and helping your customers develop a strategy for targeting the specific keywords that their target audience is already using in their online searches.

20. Home Care Service

Fortunately, you don’t need to have a background in healthcare to help seniors and run a successful business at the same time, although those skills will undoubtedly be in high demand.

Many seniors need assistance with everything from errands to home repairs.

21. Real Estate Agent

Many people find it difficult to navigate the housing market. As a real estate agent, you can help people find the home of their dreams.

To become a real estate agent in many states, all you need to do is complete a few months of classes and pass an exam.

This is a small investment business idea.

22. Social Media Influencer

Yes! You read that right. You can dedicate more time to developing your social media accounts, to eventually establish a business as a social media influencer.

An influencer is a type of small business that can make money by blogging about different companies and promotions.

23. Pop-up Shop Vendor

If you are someone who already has the products and has a good customer base, then this would be ideal for you.

There are always pop-up events looking for sellers, this is your chance to take your online market to the masses. bonus; It offers you a wide range of clients

24. Dog Runner

Are you a lover of furry friends? With the busy schedule of people today, this is a wonderful business idea.

You can start it without any cost and earn a good amount of profit.

25. Medical Courier Service

For individuals looking to have an organized, responsible, and reliable vehicle, this low-cost startup is an attractive option.

Couriers earn an average of $36 per hour or more than $70,000 annually. You can start as a single driver and later hire other drivers as your business grows.

26. Decluttering Services

This is a low-cost business idea that is in demand. Not only do you help your clients get rid of unnecessary things in their homes, but you also become their psychologist for the day.

Tip: You have to be a good listener for this job.

27. Personal Shopper

Shopping for food, clothing, or electronics can be time-consuming. In exchange for a nominal fee, a personal shopper can help busy people reclaim this time.

This is one of the easiest small business ideas that require little or no investment.

28. Career Coaching

The job market for the Millennial generation is tougher than ever.

There is no doubt that many people will be unsure about which path they should choose to increase their chances of a great future.

A career coach may work in a physical location or over the Internet.

29. Tour Guide

Starting a guided tour company can be a good investment for the future.

It can be used to supplement your income over the summer, or it can be the start of a very large company that hires other people to serve as guides.

Consider building a website where customers can schedule trips online.

30. Event Planner

An event planner uses his organizational talents to organize a wedding or a trade show.

Entry fees, sponsorships, on-premise sales to participants, and other sources of revenue can be generated later.

31. Online Teaching

You can sell your knowledge as video content on YouTube, or you can create your website and charge your students by the hour for Skype or Zoom lessons.

You can start shooting and editing content for this small business idea with your mobile phone and avoid investing in gadgets until the reward is sustainable.

32. Language Teacher

Language teaching has long been a popular way for students and even full-time high school or university teachers to supplement their income.

With Zoom and widespread Internet access, anyone can now start teaching languages ​​from the comfort of their own home.

33. Makeup Artist

It’s one of the few jobs where you can start in your bedroom and end up on a Hollywood movie set in just a few years.

34. Craft Sales

If you are fond of arts and crafts then this news is for you. Make sure you create a profile to inform your customers about your new products.

35. Consultant

Starting a consulting business can be an attractive option if you are knowledgeable and passionate about a specific topic (business, social media, marketing, human resources, leadership, communication, etc.).

You can start your own consulting business, and then expand and hire other consultants as your business grows.

36. CV Writer

Writing a good resume isn’t easy, and many people are willing to pay for help. If you know how to write the perfect CV, then this is a potential business to consider.

You can also offer resume or cover letter services to job seekers who need a little help creating these pieces for their job search

37.​​ Bed and Breakfast

You can earn as much money as you expect in this business. And getting money can be relatively simple.

However, there may be more work and problems in business than you expect.

38. Turn your Hobby into a Business

Whatever passion you have can become a source of income for you. the possibilities are endless.

39. Food Cart

A cheap alternative to the food truck. You can cook your food at home, take them in a cart and make a profit. 

40. Online Bookkeeping

Many bookkeeping services can now be done online along with education.

If you are an accountant or bookkeeper who wants the freedom and autonomy to run your own business, you can use modern technology to start your online bookkeeping service while accepting clients from other businesses.

41. App Developer

If you are well versed in technology and have prior experience, you can consider pursuing a career in app development.

Smartphones have become an everyday accessory for many people, resulting in a rise in demand for mobile apps.

Similarly, as the popularity of virtual reality software has grown in recent years, so has the demand for the development of VR apps.

It requires a small investment, and price knowledge, to run this business idea.

42. T-shirt Printing Business

If you have a sharp artistic sense, you may enjoy starting a T-shirt printing business just as you might enjoy taking someone else’s scenes and screen printing them on a blank shirt.

In any case, if you have the required space for a T-shirt printing setup, you can easily acquire the necessary equipment and start your small business.

43. Digital Product Manufacturer

In this list of small business ideas with low investment, digital products such as music, courses, and templates are unique.

They are not tangible, unlike others.

Since there are no recurring manufacturing or shipping costs to worry about, your margin can remain high, making it a no-brainer for the best businesses to start.

44. Nomad Company

Another great business that you can start small and grow at your own pace is moving company.

You can also keep your day job and focus on the busiest days – weekends and holidays.

Since most of the movements are local, the market for local moving services is huge.

45. Car Wash Services

If you have a passion for cars and are extremely careful, then this could be a great business for you.

But let me be clear; These customers will pay you well. However, they will not compromise on quality. And you should try to please them.

If they like you, the talk will spread quickly, and their friends will be interested in your services.

46. Photographer

There are many ways to make photography a profitable business .

Portrait photography, commercial photography for businesses, real estate photography, and wedding photography are all options.

Photos can be sold through stock photo services. You can also do photojournalism or sell your excellent photos in the world of photo art.

47. Home Bakery

If you can bake in your home, then you can start and run this business with little investment. Then you can sell your food in many ways. You can sell it online and send it to your customers.

Alternatively, you can arrange for delivery at a local grocery store or restaurant.

This is another small business idea with low investment.

48. Home Boutique

Building a successful boutique is less about selling personal items and more about creating an environment and clothing collection that people want to be a part of.

49. Painting Business

You can paint houses or even renovate furniture. This is a plus if you are an artist. Not only will this benefit you but it will also help you express your creative side.

50. Flower Shop

If you do well with your flower shop, you will be asked to provide flowers for special events such as weddings, parties, and corporate events.

You can increase your sales by contacting wedding and event planners for such special events, as well as local venues that cater to large groups.

This is another small investment business idea.

Which of these Small Business Ideas with Low Investment Would Be a Good Place for you to Start?

If you want to maximize your profits while minimizing your workload, any of the following small businesses may be a good place to start.

On the other hand, if you want to incorporate your passion into your work while earning enough money to make a living, there is little investment to start a good small business idea that caters to you, you need to use your skills.

Because there are so many great business ideas, there is no objectively right answer to this question – you know better than anyone which small business ideas will bring you happiness, success, and stability.

How can I start my own business if I have no money?

You do not need money to start a small business.

The first step in starting a business with no money is to keep your current job while launching your small business as a side project for the time being.

Then, create a business plan and analyze your consumer base, market, and potential challenges. You will have a better idea of ​​how much money you will need to start your business at the end of this planning process.

This concludes our list of 50 small business ideas with low investment that will make you money in 2022.

Focus on one idea at a time until you find one that matches your abilities and gives you the best chance for success.

Thousands of entrepreneurs have used these business ideas to make money, so you can rest assured that you are putting your time and effort into something viable and proven.

Whether you’re a college student, a stay-at-home parent, or someone else looking to start a business, keep in mind that there are many ways to earn a substantial income.

All the above small business ideas can help you earn a decent income even with low startup costs.

Ultimately, we recommend you start something online like a Self-Publishing , affiliate marketing , or YouTube as these are less vulnerable to market shifts.

Did you like one of the business ideas? What did we miss? Maybe you know friends who recently started something exciting or want to show off your original business idea? Let us know in the comment section below.

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Best Investment Plans in India and Money Saving Ideas

Home » Small Business Ideas

20+ Small Business Ideas (Low Investment + High Profits)

Due to increase in unemployment, many are aspiring to start their own business. Even recession is making many of us to rethink about starting a small business. However shortlisting one among a variety of small business ideas could be the hardest task as it would depend on the passion towards it and the size of investment. In this article we would indicate why one should start a business and list down 20+ small business ideas with low investment and high profits.

Also Read: 20 Most Profitable Wholesale Business Ideas in India

Why should one start a business?

Initiating your business means you have full control over your business activities. You have the freedom to carry your work in your ways without being bound to someone. If you are a passionate individual who does not like to spend his life in the 3*3 cubicle, you can pursue your own business. It is not necessary that businesses can be initiated with a hefty capital only. Few businesses can be started with low capital also. 

20+ Best Small Business Ideas with low investment + high profits

Here are the list of most profitable small businesses that require low investment. One can filter these business ideas based on their interest + investment which they can afford.

1) Tuition/Coaching classes

Today, education has become an inseparable part of one’s life. Every parent is hunting for efficient tutors and institutes who can assist their wards to achieve his/her career goals. So, you can come up with your tuition classes that can impart quality education to children. It is one of the most profitable businesses in today’s competitive world.

2) Cooking classes

Indians are fond of eating; they cannot compromise with their food. So, if you strongly believe that you possess good culinary skills along with some innovative ideas and recipes, you can come up with cooking classes. You just have to set your kitchen and get the necessary ingredients.

Whether it is a small party or big fat weddings, there is always a demand for catering service. A kitchen, some good chefs, and hard-working employees would suffice in commencing the business. Slowly and steadily you can expand your venture. This is one of the best small profitable business ideas in India.

4) Yoga teaching

Today’s generation has become way too health-conscious. So, if you have a good know-how of all ‘yoga asanas, then you may consider yoga teaching as a new venture. You can either give personal services or rent a small room for it. An individual with a professional degree acquired in this field always has better chances.

5) Real estate broker

If you possess good communication skills with a large social network, you can opt to become a real estate broker. You can act as a mediator between the buyer and seller. This will help you to earn handsome amounts in the form of commission.

6) Tea/coffee cafe

People relish gossiping or having meetings over coffee or tea. You can choose to open a tea or coffee café with a few snacks served with it. All you need is a small soothing space with a calm environment, some dedicated employees, and kitchen space.

People are bored of all those ordinary gifts; they are switching over customized gifts to make feel people special and their occasion more enjoyable like names or pictures printed on T-shirts, pillow covers, mugs, customized photo bouquet, etc. With a pinch of creativity in this business, you can do wonders in this business. This is one of the profitable small business ideas in India.

You may also like: 10 Evergreen business ideas that are profitable in recession too

8) Tiffin services

Many working individuals and students crave for homelike tasty food and need them to be delivered at their doorstep. Some large corporations also give the contract of tiffin services for their employees to the outsiders. It is a great business venture in metro cities. This business can hardly witness downfall if you provide tasty and hygienic food. This could be evergreen small business idea.

9) Organic farming

The demand for organic grains, fruits, and vegetables is increasing day by day in India. Organic farming prohibits the use of harmful chemicals and fertilizers in farming and instead uses organic means for growing things. This business can be carried out with small investments and can fetch you a good profit. These days, many have become health conscious, hence this is one of the best small business ideas after lockdown too.

10) Home bakery

If you are looking to start small business ideas from home, this could be the best fit. Be it any occasion or celebration, cakes are never left out. Bakery items like cakes, biscuits, and chocolates are always in demand. Nowadays, customized cakes with new themes and innovations are also preferred by people. The capital requirement is quite low, but the profit margin is high.

11) Dance/ music classes

Children as well as elders are fond of dance and/or music and like pursue it as their hobbies. They do take rigorous classes for it. If you possess good and creative skills in either of the two, or both, you may consider starting a dance/ music class. The investment is very low in this business, but can fetch you good returns if it gains good popularity.

12) Insurance agent

With a little investment, you can be an insurance agent. Good communication skills and convincing power can attract a big client. This is a highly profitable business idea.

13) Party planner

People are too busy to organize their parties. So, they usually look for trusted and confident party planners who can add a feather to their party. With some creative ideas, you can plan to start your own party planning business.

14) Decorator

Every occasion like birthday parties, weddings require some kind of decorations. All you need to do is to decorate the venue with a pinch of creative ideas. You can start with low investment and later expand it. If you have creativity skills, this can be one of the best creative small business ideas to start.

If you enjoy playing with children or taking care of them; you can surely start a daycare service center. Parents are quite busy with their profession, so they prefer daycare as the safest spot for their children. You may hire a few employees and keep some toys in your center. Due to increase in working mothers, this is considered as one of the most successful small business ideas in India.

16) Sports coach

If you hold a degree in sports training, then you may consider sports coaching as a venture for you. All you need is to provide all the necessary equipment for the concerned sport and a bit of hard work and dedication towards your students.

17) Diet food shop

Nowadays people are very health conscious. They prefer healthy and dietetic food over junk and fried food. This is an emerging field as there are hardly any diet food shops. So, starting a business in this field can be highly profitable.

18) Laundry shop

Everybody enjoys wearing washed and ironed clothes that smell good. You just need to make a few clients and provide them efficient laundry services. You may hire a few unskilled laborers.

19) Internet service provider

In today’s scenario, the internet is dominating the world. You can provide your customers with highly efficient internet access. Initiating this business is a very good idea keeping its prospects in mind.

20) Spice or masala powder making

Spices and powders are used in good quantity in almost all Indian households. Moreover, our country is one of the largest exporters of spices. You can initiate the business of spices prepared with the best ingredients and with purity. This is one of the good small business ideas for small towns to start any time.

Also Read: 10 Profit making small business ideas to start with low investment

21) Stationery and bookstore

If you are looking for a best business for beginners, you can try this small business. Stationery items are always selling like hot cakes in the market. You can open a stationery shop near a school or to a corporate to obtain maximum profits.

Conclusion: Always remember, hard work is the key to success. Choose any business idea that is apt for you and give you 100% to take it to the pinnacles of success.

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About Suresh KP

Hello, this is Suresh KP , the founder of this blog. I have written over 2,500 articles on this blog covering various investment options in India. I am a Certified Investment Adviser and a Certified Research Analyst. However, I am NOT a SEBI Registered Investment Advisor . The articles on this blog are created for educational purposes only. Please consult your investment adviser before making any investment decisions.

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Are you dissatisfied with your substantial paycheck and the confines of a 9 to 5 job? Do you dream of your own business and establishing a thriving business? Yet, you might be grappling with uncertainties about the most lucrative business ideas in India today that don’t demand significant initial investments.

It’s a misconception that a substantial sum of money is requisite for initiating and successfully managing a business . Take a glance at globally renowned companies such as Facebook, Apple, and Subway, to name a few. They all commenced their journeys with modest financial resources!

Furthermore, financial constraints should be the least of your worries in contemporary India. The market offers numerous loan providers and credit options, catering to personal loans tailored for aspiring entrepreneurs.

22 Best Business Ideas

Here is the list of the best 21 best business ideas that don’t cost you an arm and a leg.

Interior Design and Decoration

This one is for the creative souls! The interior design market of India is booming like crazy. Fancy interiors are not only for the rich people anymore. Indian middle class and higher middle class now aspire for modular kitchens, smart furniture, innovative colour scheme, aesthetic decorative items, and lighting.

As a result, independent designers and small business firms have a lot of scopes to make money through interior design.

Check out our guide on “ How to Start Interior Design Business “ .

Pharmaceutical Businesses

Did you know that India is the world’s largest exporter of generic drugs? The Indian pharmaceutical market has the reputation of being an ever-growing market that is constantly innovating. The Pharma sector was not affected by the economic slowdown due to the pandemic. Another reason for the pharmaceutical business to be one of the most profitable business ideas in India is that you can enter in more than one way in this sector. It needs the workforce for manufacturing, research, engineering, and procuring raw materials.

Organic Farming

Indian people are increasingly becoming aware of the chemical used in pesticides and preservatives. Therefore the concept of organic farming is gaining popularity. People search for affordable and organically grown fruits, vegetables, and other food items. If you or anyone in your family has agricultural land, you can enter this business in the capacity of a farmer or cultivator of crops. Or else you can become a distributor of organically grown food products.

Labour Contractor

Several projects are going on in India at any point in time. In this scenario, there will always be a constant need for workers. And a majority of workers on sites are contract workers. It’s one of those successful business ideas in India which require nil to a minimum investment. However, you need to make good contacts and learn about labour laws as you’ll be directly working with people.

Cloud Kitchen

Cloud kitchen refers to the shared kitchen space between multiple restaurants. Providing the facility of cloud kitchen is one of the most successful business ideas in India with low investment. All you need is a functional cooking space in a commercial place. Cloud kitchens play vital roles in facilitating online food orders at low costs. Therefore, India is expected to see a rise in cloud kitchens in 2024.

Check out our guide on “ How to Start Cloud Kitchen “.

Fashion Accessories

It’s an evergreen business. Scrunchies, phone cases, jewellery, watches, and wallets, so many products can bring revenue to this business. Girls were always in love with new and designer fashion accessories. With the invention of men purse and other male-oriented designer accessories, this industry has also caught the attention of alpha males. You only need a little creative sense and a reliable source of beautiful and futuristic fashion accessories to rule the market.

Photography

Earlier photography was in demand for special occasions only. Nowadays, product photography, seminars, pre-wedding shoots, etc., have widened photographers’ scope of work. People want to present their products or occasion in the best possible manner. Therefore a photographer needs a good camera, lens, and other photography equipment like a tripod as a basic investment. You can always get a personal loan for business if you find them expensive.

Check out our guide on “ How to Start Photography Business “.

Exclusive Plant Nurseries

Gardening is a much-loved hobby of many people. Even people with small homes manage limited space for gardening. Plants are also widely used as home decorations and natural air purifiers. And with increasing awareness, everyone considers plantation as their responsibility and contribution towards reducing global warming.You will find at least some plants in every home. Therefore plant nurseries are in demand in both small and big towns.

Housekeeping Services for Hotels

Apart from the existing number of hotels, various experts predicted more demand for hotel rooms in India. In this scenario, one service that the hotel industry will need in bulk is housekeeping services. Housekeeping is essential to keep hotel rooms sparkling clean to attract more customers. It is a necessary requirement for their business to flourish. You need good communication skills and contacts to enter and succeed in this business.

Property Management

The property management business is flourishing, with people getting busier and busier these days to manage their properties. You need an office, sales and marketing skills, communication skills, and knowledge of property laws and paperwork.What makes it among the best profitable business in India is it pays you good money for only taking care of the property documentation of your clients.

Event Management

Whether it’s a wedding, baby shower, product launch, or a store opening, we Indians love to celebrate everything on a grand scale. Hosts don’t have the time to do everything with such big celebrations. Here comes the role of an event planners. They are rarely out of business. You need some people’s skills, an office as your base, some workforce, and contacts within the vendors’ circle to run an event planning business successfully.

Check out our guide on “ How to Start Event Management Business “ .

Pre-recruitment Assessment

India’s giant companies often do mass recruitment, so they don’t have time to scrutinise every profile. But this does not mean that they don’t want to hire the best. You can help these big companies in their pre-recruitment assessment.

Your job is to craft tests to evaluate a candidate’s calibre for the job. It’s one less task for their overworked HR and a good source of income for you.

Scrap Collection

Scrap collection in India is not as organised as in the western world. But it’s still a million-dollar industry. Rag pickers, known as “kabaris” in the local language, will bring the scrap to you.

Afterwards, you need to separate different materials and sell them to a dealer or directly to a manufacturing facility. Know the market price of various metals, and you can earn a good margin in buying and selling the scrap.

Website Designing

Website designing is a requirement of every company today and ranks amongst the best online business ideas. Their customers, aspiring candidates, and vendors all check their websites. So there’s a lot of work to do in this sector. No wonder it’s considered as one of the most profitable businesses in India with low investment.

With website designing, blogging, and digital marketing are also gaining pace in becoming the most in-demand services. You need a laptop, software, technical skills, and creativity.

Online Ads Service

The boom in the IT sector also made online ads services as one of the most profitable businesses in India. You can secure a good deal with website owners for your clients. You need contacts of the website owners and the business sector to make clients.

Good media management skills are the prerequisite for this business to succeed. You can do online courses if you don’t have in-depth knowledge.

Co-working Spaces

If you have a bigger office than you need, you can easily convert it into a co-working space. This is one of the zero investment and most profitable businesses in India right now. Many companies and professionals don’t require more than a work desk to operate.

These people can benefit from you renting your space to them. And your extra space gets utilised. Isn’t it a win-win!

In the ever-evolving world of fashion, the boutique business stands as a beacon of style and individuality. With an increasing appetite for unique and curated fashion experiences, opening a boutique is not just a venture; it’s a sartorial odyssey. Immerse yourself in the world of trends, connect with local designers, and bring forth a haven where fashion enthusiasts find their signature style.

Check out our guide on “ How to Start a Boutique Business “.

Serving up more than just meals, a food truck business is a movable feast of flavors and creativity. Embracing the culinary scene on wheels, this business idea is all about mobility and taste bud adventures. From street corners to local events, offering delicious bites that excites taste buds and creating a community of food lovers on the move, food truck business is one of the most sought after business ideas.

Pet Business

In the heartwarming world of petcare, creating a business goes beyond the ordinary—it’s a commitment to the well-being and joy of our furry companions. Whether it’s grooming services, pet sitting, or crafting specialized treats, the petcare business is a celebration of the unconditional love that pets bring into our lives. Build a haven where tails wag, purrs resound, and pet owners find a trusted partner in their furry friend’s happiness.

Consulting Business

Venturing into the consulting business is akin to becoming a guiding light in the corporate landscape. Armed with expertise and insights, a consultant navigates the intricate pathways of business challenges, offering solutions that transcend the ordinary. It’s not just a profession; it’s a strategic partnership where success is measured by the impact of tailored advice and the growth it fosters.

Personal Training

In the dynamic world of fitness, a personal training business is a journey of transformation, both for the body and the spirit. It’s about sculpting more than muscles—it’s about sculpting lives. As a personal trainer, you become a motivator, a coach, and a beacon of health. Customize workouts, instill discipline, and lead a fitness journey where each client’s success reflects your expertise and commitment.

Car Detailing

Car detailing is more than a lucrative business idea—it’s an art. Picture vehicles turning into stunning masterpieces. It’s a precise, passionate symphony of shine. Imagine diving into a world of spotless exteriors and interiors, treating each car like a canvas. From careful hand washes to fixing paint imperfections, it’s all about embracing the beauty of cars. Create a space where cars don’t just get clean but transform into reflections of automotive elegance. Your detailing skills? They’re the brushstrokes turning every ride into a rolling masterpiece.

Hopefully, one of these business ideas will click with you and become a turning point in your life.

Shiv Nanda is a financial analyst at MoneyTap who loves to write on various financial topics online. He also advises people on financial planning, investment choices and budgeting skills, and helps them make their financial lives better.

More posts by Shiv Nanda

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25 Best Zero investment business ideas in india 2024

Explore 25 Best Zero Investment Business Ideas in India and Start Your Entrepreneurial Journey Today!

Table of Contents

Introduction.

In today’s fast-paced and ever-changing business environment, not everyone has the privilege of having substantial capital to kickstart their entrepreneurial dreams. The good news, however, is that you don’t always need a hefty investment to venture into the world of business. Believe it or not, India, a land teeming with opportunities, is a hotspot for groundbreaking zero investment business ideas in 2024. Whether you’re a stay-at-home parent seeking financial independence, a student looking to explore your entrepreneurial side, or simply someone eager to diversify their income streams, there’s a world of zero investment business ideas awaiting your discovery.

In this insightful blog, we’ll embark on a journey to unravel 25 of the most promising zero investment business ideas tailored for the Indian landscape in 2024. These ideas are not just pathways to financial independence; they’re the gateways to innovation, creativity, and self-expression. So, whether you’re tech-savvy, artistically inclined, or simply passionate about a particular niche, it’s time to explore the boundless opportunities that the world of zero investment businesses has in store for you. Let’s dive in and discover the entrepreneurial potential that awaits in the vibrant and ever-evolving landscape of India.

What are Zero Investment Business Ideas in India?

Zero investment business ideas, also known as zero capital or 0 investment businesses, allow aspiring entrepreneurs to kickstart their entrepreneurial journey without the need for significant financial resources. These ideas rely on creativity, skills, and strategic planning rather than upfront capital. In India, with its vast and diverse consumer base, there’s ample room for such businesses to thrive.

25 Best Zero Investment Business Ideas

Here are the 25 best zero investment business ideas that will help you embark on your entrepreneurial journey without the burden of initial financial investment. Explore these creative and profitable opportunities to start and grow your business

1. Print-on-Demand

Create custom-designed products like T-shirts, mugs, and phone cases and sell them on platforms like BlinkStore (more on this later).

2. Freelancing

Kickstart your zero investment business by offering your writing, graphic design, or digital marketing services online. You can tap into the vast market of clients seeking skilled freelancers in India.

3. Content Creation

Launch your own YouTube channel, or podcast with zero investment and monetize your content through ads, affiliate marketing, and sponsorships in India.

4. Affiliate Marketing

In the world of 0 investment business ideas, affiliate marketing stands out as a way to earn commissions by promoting products or services without any upfront financial commitment.

5. Online Tutoring

Share your knowledge through online tutoring in India, providing valuable educational services with zero investment

6. Dropshipping

Start your e-commerce journey in India without investing in inventory by becoming a zero investment drop shipper, connecting customers with products directly from suppliers.

7. Social Media Management

Help businesses enhance their online presence with your expertise in social media management, offering zero investment business solutions for boosting brand visibility in India.

8. Virtual Assistant

Provide remote administrative support to businesses and entrepreneurs, establishing your 0 investment business in India as a reliable virtual assistant.

9. Content Writing

Offer zero investment business solutions to websites and blogs in India by providing high-quality content writing services tailored to their needs.

10. Digital Marketing Services

Specialize in SEO, pay-per-click advertising, or social media marketing to offer business ideas with zero investment for clients looking to expand their online reach in India.

11. Handmade Crafts

Showcase your creativity by crafting and selling handmade jewelry, candles, and more, building a zero investment business around your passion in India.

12. Event Planning

Put your organizational skills to work by starting an 0 investment business in event planning, creating memorable experiences for clients throughout India.

13. Blogging

Monetize your blog in India by implementing zero investment business strategies such as affiliate marketing, sponsored posts, and digital product sales.

14. Online Surveys and Market Research

Participate in online surveys and market research studies to earn money or rewards in India with zero investment.

15. Ebook Publishing

Publish and sell ebooks on platforms like Amazon Kindle Direct Publishing, a zero investment business with the potential for passive income in India.

16. Podcast Hosting

Launch your own podcast in India on topics you’re passionate about and monetize through sponsorships and listener support, a creative 0 investment business.

17. Cooking or Baking Classes

Share your culinary expertise with online cooking or baking classes, turning your passion into a zero investment business in India.

18. Dropshipping

Dive into the world of 0 investment business by setting up an online store in India and partnering with suppliers to fulfill orders.

19. Photography

If you have photography skills, offer portrait sessions, event photography, or sell your photos online.

20. Online Fitness Coaching

Become a certified fitness coach and provide personalized fitness plans and guidance online. Help clients achieve their health and wellness goals from the comfort of their homes, offering a convenient and effective way to stay fit.

21. Consulting

Share your expertise in a specific field, such as business, finance, or career, by offering consulting services.

22. Pet Sitting or Dog Walking

Start a pet care service, offering pet sitting and dog walking to pet owners in your local area. Provide convenience and peace of mind to busy pet parents while enjoying quality time with furry companions.

23. Home-based Catering

Launch a small-scale catering business from your home, specializing in unique cuisine or catering to specific dietary preferences. Offer customized menus for special occasions, bringing delectable flavors to events.

24. Freelance Illustration or Design

Utilize your artistic talents as a freelance illustrator or graphic designer. Worked on creative projects, from designing logos and graphics to illustrating children’s books, while collaborating with clients worldwide.

25. Online Reselling

Turn clutter into cash by reselling second-hand or vintage items online. Use platforms like eBay or Olx to reach a broader audience, recycling pre-loved items and making a profit.

These ideas cover a wide range of skills and interests, offering diverse opportunities for aspiring entrepreneurs to explore in India without the need for significant initial investments.

How to Start a Business Without Investment?

Starting a zero-investment business in India requires planning and dedication. Here are the essential steps to get you started:

• Identify Your Niche : Choose a business idea that aligns with your skills, interests, and target audience.
• Create a Business Plan : Outline your business goals, strategies, and marketing plans.
• Build an Online Presence : Create a website or use social media to establish your brand and reach potential customers.
• Market Your Business : Utilize free or low-cost marketing methods like social media, content marketing, and email marketing.
• Provide Exceptional Service : Deliver high-quality products or services to build a positive reputation and customer loyalty.
• Scale Your Business : As your business grows, reinvest profits to expand and offer more value to your customers.

Benefits of Zero Investment Business

Zero investment businesses offer several advantages:

• Low Financial Risk : You can start without a significant financial commitment, reducing the risk of financial loss.
• Flexibility : These businesses often allow you to set your schedule and work from home.
• Skill Enhancement : You can develop and sharpen valuable skills in marketing, communication, and entrepreneurship.
• Income Diversification : You can diversify your income sources, reducing reliance on a single job.
• Scalability : Some zero investment business ideas can be scaled up over time as your revenue grows.

Start Your Zero Investment Business with BlinkStore

Blinkstore is a pioneering ecommerce platform in India that simplifies the process of starting a zero investment business. Whether you want to try your hand at print-on-demand or sell custom-designed products, Blinkstore offers an easy-to-use platform for aspiring entrepreneurs. Here’s what sets Blinkstore apart:

• User-Friendly Interface : You don’t need technical expertise to set up your personalized web store on Blinkstore .
• Wide Product Range : You can bring your unique designs to life on over 50 different products, from T-shirts to phone cases.
• Inventory Management : Blinkstore handles everything, from printing your designs to delivering products directly to your customers’ doorsteps.
• Comprehensive Guide : For those new to print-on-demand, Blinkstore provides a detailed guide on “ How to Start a Print-on-Demand Business With Blinkstore. “

With Blinkstore , creativity meets convenience, making it the ultimate choice for aspiring online sellers in India.

Steps to Start Your Zero Investment Business with Blinkstore

• Sign Up : Visit the Blinkstore website and sign up for an account.
• Design Your Products : Create or upload your unique designs for the products you want to sell.
• Set Your Prices : Determine the pricing for your products, keeping in mind your profit margins.
• Publish Your Store : Once you’re satisfied with your store’s appearance and product listings, publish it.
• Promote Your Products : Use social media, online marketing, and networking to promote your products and attract customers.
• Monitor and Adjust : Keep an eye on your sales and customer feedback, and make adjustments as needed to improve your business

If you are looking for ways to promote your business online, don’t worry – we’ve got you covered. You can refer to our blog titled ‘ Best Ways to Promote Your Business Online in 2024 ‘ to learn more about effectively marketing your business and products online.

In conclusion, the landscape of zero investment business ideas in India for 2024 offers a wealth of opportunities for individuals from all walks of life. The essence of these businesses lies in their ability to empower aspiring entrepreneurs with limited financial resources. Whether you’re tech-savvy, creative, or passionate about a particular field, there’s a niche waiting for you to explore.

The key to success in the world of zero investment businesses lies in your ability to match your skills and interests with the right idea. It’s not just about making money; it’s about pursuing your passion and creating value for others in the process.

Moreover, platforms like Blinkstore exemplify the accessibility and convenience of starting your zero investment business. With Blinkstore, you can bring your creative visions to life and reach a broad audience without the need for extensive capital or technical expertise.

So, as you contemplate which zero investment business idea resonates with you the most, remember that your journey as an entrepreneur is a reflection of your skills, interests, and unwavering determination to succeed. In 2024, seize the opportunity to turn your entrepreneurial dreams into a reality and embark on a path that offers both financial rewards and personal fulfillment. Your journey begins now!

What exactly is a zero investment business?

A zero investment business, also known as a zero capital or 0 investment business, refers to a business venture that can be started and operated without a significant initial financial investment. These businesses often rely on creativity, skills, and strategic planning rather than requiring substantial upfront capital.

Are zero investment businesses profitable?

Yes, many zero investment businesses can be highly profitable. However, success depends on factors like your dedication, marketing efforts, and the quality of the products or services you offer. It’s essential to choose a business idea that aligns with your skills and interests to maximize your chances of profitability.

Can I start a zero investment business part-time?

Absolutely! Many zero investment businesses can be launched and managed on a part-time basis, making them ideal for individuals with other commitments such as full-time jobs or studies. As your business grows, you can consider transitioning to full-time entrepreneurship if desired.

How can I promote my zero investment business?

Promoting your zero investment business can be done through various channels, including social media marketing, content marketing, email marketing, networking, and word-of-mouth referrals. It’s essential to create a solid marketing plan tailored to your specific business and target audience.

Are these business ideas suitable for beginners?

Yes, the zero-investment business ideas presented in this blog are suitable for beginners. They are designed to be accessible and offer a low-risk entry into entrepreneurship. Starting with a business idea that aligns with your interests and skills can make the learning curve more manageable.

How can I choose the best zero investment business idea for me?

Selecting the right zero-investment business idea for you involves considering your skills, interests, and market demand. It’s essential to research each idea thoroughly, evaluate your own strengths, and identify which idea aligns best with your goals and resources.

Is technical expertise required to use Blinkstore?

No, you do not need advanced technical skills to use Blinkstore. The platform is designed to be user-friendly, with an intuitive interface that simplifies the process of setting up your online store and designing products. Even if you lack technical expertise, you can easily navigate and use Blinkstore to bring your creative ideas to life.

What types of products can I sell on Blinkstore?

Blinkstore offers a diverse range of over 50 different products that you can customize with your designs. These products include apparel (T-shirts, hoodies, etc.), accessories (phone cases, tote bags, etc.), home decor items, and more. This variety allows you to cater to a wide audience and expand your product offerings as your business grows.

Is Blinkstore suitable for both individuals and businesses?

Yes, Blinkstore caters to a wide range of users, including individuals looking to start their own online businesses and established businesses seeking to expand their product offerings. It provides a flexible platform for both newcomers and experienced entrepreneurs.

What marketing strategies can I use to promote my zero investment business in India?

Promoting your zero investment business in India can be done through various marketing strategies, including social media marketing, content marketing, email marketing, search engine optimization (SEO), and influencer partnerships. The choice of marketing channels should align with your target audience and business niche.

What types of designs can I use on Blinkstore products?

Blinkstore allows you to use a wide range of designs, including your original artwork, illustrations, graphics, photographs, and text-based designs. You have the creative freedom to bring your unique ideas to life on their products.

Can I scale a zero investment business?

Yes, many zero investment businesses can be scaled up over time as you gain more customers and generate revenue. Reinvesting profits and expanding your offerings are common strategies for growth.

50 Businesses You Can Start With INR 1 Lakh Or Less

Shubham Kumar

According to a survey by Randstad Workmonitor in 2017, 83% of the Indian workforce would like to try entrepreneurship. While there are many who want to start a full time business, there are others who plan to start some part-time business to earn extra income. However, starting a business has many hurdles associated with it, and the major hurdle is the lack of capital. As a matter of fact, there are many businesses which can be started without investing a huge amount of capital. Here is a list of the best business ideas you can start by investing INR 1 lakh or less.

You may also like: 62 Business Ideas with Low Investment and High returns

Businesses You Can Start with INR 1,00,000 or Less

Cab Fleet Home Automation Services T-Shirt Printing Investment Business Stationery Store Startup Canteens Custom Gifts Professional Cameras on Rent Xerox and Printing Juice Shop Food Corner Game Parlour Used Car Dealership Driving School Beauty Salon Affiliate Marketing Blogging Writing Services Homework Help Services and Tutoring Web Designing Business Graphic Designer Interior Designer Home Decorator Fashion Designer Starting an Online Store Bookstore Fashion Store Babysitting Craft Store Bakery Online Advertising Dancing and Music School Sell Handmade Products Consulting Business Real Estate Agency Travel Agent Web Maintenance Service Event Management Business Amazon Seller YouTuber Podcasting E-Book Writing Laundry Shop Tailoring Home Cleaning or Corporate Cleaning Services Home Maintenance and Repair Services Catering Business Grocery Shop Mobile Repair Shop Paper Bag, Cloth Bag, or Jute Bag Making

You can buy a used car or a couple of bikes under INR 1 lakh, register them with Ola , Uber, Rapido, and other on-demand cab services. You then need to hire some people to drive the cab for you. Even after the necessary deductions like paying the driver's salary along with the maintenance expenditures, you'll still end up with a good profit.

Home Automation Services

Speech recognition devices like Amazon Alexa and Google Home have become common in today's households. With some knowledge of electronics and coding, you can help people pair their home appliances with speech recognition devices. This would allow them to control the appliances by giving commands to the speech device. One needs to purchase electronic equipment and hire a few talented guys to take care of the programming and configuration aspect.

T-Shirt Printing

There's a constant need for custom designed uniform with logos and pictures. As a result, T-Shirt Printing is a lucrative business one can pursue. You can help customers by printing their required designs and logos on T-shirts. For that, you'll have to invest in a good T-shirt printing machine . There are many affordable machines in the market, some starting from as low as INR 50,000 . If it sounds expensive, one may rent the machine from someone on a monthly basis or longer and once the business turns profitable, the venture owner could buy his or her own machine. With the constant emergence and growth of social media influencers, this business is in high demand at the moment. And there's no dearth of offline opportunities as well. Many T-Shirt startups are already excelling in this industry.

Investment Business

If you have knowledge about trading and investing, you can provide the service of handling people's money and generating profits for them through the share market. But to take off with this idea, one needs to demonstrate the knack for making successful predictions and trades in the market because people believe only when they see. Moreover, it requires immense trust to hand over one's hard earned money to someone else. So start by investing money for relatives and friends, turn them into success stories, and then aim for the big fish! You can start your own investment company in the future with this business idea.

Also read: Best Fintech Startups in India

Stationery Store Startup

You can open a stationery store and cater to new startups and offices since they require a lot of stationery related items like pen, paper, markers, etc. Offer them the best quality stationery products at reasonable prices. You can also partner with schools and coaching centers to establish your presence. Subsequently, students will come only to you for stationery needs. Connectivity with your main store means shortage of supplies can be taken care of immediately. You will need to build an effective transport network for connectivity between the main warehouse/store and your franchises to meet urgent delivery request. A home delivery facility will attract more customers. This business idea can be easily launched with INR 1 lakh and be scaled as a formidable startup if implemented with the best practices.

Canteens are no less than a necessity in public places such as parks. Even hospitals and office spaces are known for the crowd they bring. You can lease a space in such locations and start a canteen there. Start with limited options like tea, coffee, and biscuits. If there's a growth in your customer base, you can then increase the options offered. Once the entire business is in motion with windfall profits, you can then think of expanding the canteen chain.

Custom Gifts

According to Asianage, the gifting industry in India is expected to reach $84 billion by the year 2024. The industry is worth north of $65 million at present. The millennials have contributed significantly to the rise in gifting culture. Starting a personalized gifting business can prove to be a profitable business. All you need is creativity and innovation which are reflected in awe-inspiring photo frames, custom coffee mugs, etc. Test your initiative on your acquaintances and see what they think of custom gifting as a customer. You can also distribute samples embellished with your information for promotion and publicity. Closing a deal with corporate offices, especially during the festive season, is also a good idea for marketing.

Also read: Corporate Gifting Ideas for Diwali

Professional Cameras on Rent

Social Media platforms like Instagram and Facebook have ushered in a new era, one where everyone's crazy about selfies and videos. By the time you'd be done reading the previous sentence, hundreds of thousands of pictures must have been uploaded online. People are desperate for good quality images and videos. They need excellent cameras for that. You can buy a high-end camera that ranges between Rs. 50,000 to 80,000 and rent it to people on an hourly basis. If you can invest in a good quality drone with integrated camera and provide the instructions on its usage, nothing like it. You can easily command more than Rs. 1000 per hour as people are willing to pay astronomical amounts for those precious drone clicks!. If you are interested, you can also start doing professional photography.

Xerox and Printing

Although everything's online now, requirements like photocopying and scanning will never fade. You can buy a xerox machine and start a business near a coaching center, college, or offices. It is a highly scalable business idea if done right.

Also read: How to make money online

With the millennial (and everyone in general) moving towards a healthier lifestyle, juice shops are the place to go after that intensive workout. Be it fruit juice or protein shake, juice shops are a favorite for many. Starting a juice shop business near a jogging park, fitness center, or in a commercially bustling area offers a good chance to make money. If you cannot find any such place, you can always start with a movable setup like using your car and parking it near a jogger's area every morning. All you need to start this business is a good juicer, fruits, and necessary permission for your venture. All of the inventories can be bought for less than 50,000 rupees. You can use the other INR 50,000 from your INR 1,00,000 investment to market your shop. You may have to seek police consent and those of the concerned authorities. Target residential societies, if possible. As more and more people throng to your shop, you'll get an idea and insight into their preferences and thereby come up with even better offerings. It is one of the most promising business ideas you can start with INR 1,00,000.

Food Corner

Some eat to live while others live to eat. All in all, a Food Corner has all the ingredients of a profitable business . Aim for affordable meals so that people from all walks of life have something to consume at your joint. Since we're talking about businesses under INR 1,00,000, start with a stall type of setup. Talk to the southern meals and MOMO vendors you find on the roads to understand how they work. This is the one of the best businesses you can start with INR 1,00,000 or even less as food will never go out of trend.

Also read: How to market a restaurant

Game Parlour

The gaming industry is witnessing a boom. The current value of the gaming industry in India is $850 million and it is growing at a rate of 14.3% every year. If you think people in your locality are into mobile or PC gaming, you can buy a few high-end mobile phones and PCs and set up a game parlor . Many people want to play high performance mobile games but don't have compatible phones. There's tremendous opportunity in mobile lending. Apart from the money you make from the games, you can sell snacks in the parlor for some extra cash.

Used Car Dealership

There are many people who prefer to buy used cars in good condition. They buy a used car, drive it for a year or two, sell it, and buy another used car. You can start a used car dealership and find customers easily. All you need is a used car, have it repaired and find a buyer. If you can add some value to the car through modification, people will be ready to buy it for a higher price . Start your business by scouting for a used car that can be purchased and enhanced in 1 lac budget. Many people like to buy used cars and enhance it in a short period of time.

Driving School

Driving school continues to remain in the market. It is still a good business that mints money as the number of driving licenses issued every year grows exponentially. For a driving school, you need a good marketing plan as you cannot target specific people. You will have to use traditional channels of advertising like newspapers and pamphlets. Social media marketing can also assist in acquiring customers.

Beauty Salon

For someone who is interested in doing hairstyles, makeup or grooming people, starting a salon can be a nice business. A shop in a good locality is needed, besides many also start it at home. Much heavy investment is not needed, and also one can earn good amount of profit in this business

The above mentioned are some of the best business ideas that can be started by investing around INR 1,00,000. But if you feel that 1 lakh is not what you can invest right now, there are still other businesses you to start that requires very less investment. Let's have a look at some such business ideas

Also Read : 10 Small Business Ideas that You can Start from Home

Best Businesses to Start with Less Investment

Affiliate marketing.

Affiliate marketing is an easy to start yet profitable business that you can start, without any major investment. What you have to do is to simply promote other business's products and services online and earn commission. You don't even need to have your own website to start affiliate marketing. Just choose the products you would like to promote and register yourself as an affiliate of the company whose products you would like to promote. Once authorized to become an affiliate, you receive affiliate links for various products the company is selling. You can now paste these links on your website or promote them through your social media accounts, YouTube channel, in online groups or communities, or through email, and start earning commission whenever someone clicks on your link to visit the company's website and makes any purchase.

If you love writing, blogging is an interesting and profitable business that you can start with minimal investment. All you need to spend is on a domain and a good hosting plan. So just with an investment of INR 5000-6000 you are all set for a blogging business. Blogging lets you make money in many ways. You can sign up with Google AdSense to show ads on your website, do affiliate marketing, write sponsored posts, sell e-books and much more through blogging.

Writing Services

Another good service for those who have amazing writing skills is starting a business providing writing services. Writing service providers create various content for the clients ranging from resume writing, article writing, short story writing, copy writing, technical writing, editing and much more. You can start by offering a limited services, and once scaled up, you can hire people and broaden the spectrum of your services.

Homework Help Services and Tutoring

There are many students who would pay to get some help for their homework. You can start online homework and assignment consultation services. Students can call you to seek help regarding their assignments and you can charge them on an hourly or per assignment basis. You can target hostels and colleges for this business. This is an awesome business idea if you are excellent in studies and requires very little money to begin with. The only investment will be in the form of internet and your device. Tutoring is also a good way to make some money with almost no investment.

Web Designing Business

If you have relevant knowledge, you can start designing websites for various businesses. In today's digital world, every business big or small needs a digital presence to grow. By starting a web designing business, you can tap into this trend.

Graphic Designer

Are you a graphic designing expert? Well this can indeed be a great business option. Graphic designing has a huge scope. From creating logo's for companies, to designing brochures and marketing materials, making graphical content for social media to designing packages, there is lot you can offer to your clients and earn a good amount of money.

Also Read : How to Become an Expert Graphic Designer

Interior Designer

Interior designing is another great business option. With required skills and preferably the required certifications, you can easily start an interior designing business. Start by designing interior for your family, friends and acquaintances, and build a good portfolio that you can show attract clients. If your work is good enough, this business will surely take you places.

Home Decorator

Being a home decorator is a good business for those who loves to decorate beautiful homes. A home decorator is one who decorates the interiors with beautiful furniture, accessories etc. While you need certification to become an interior designer, no certification is needed for being an interior decorator. All you need to be an interior decorator is creativity.

Fashion Designer

If you have a knack for fashion designing, fashion designing business is something you can start without much investment. Find a niche segment and decide for whom you want to design clothes. Start by offering a few products, and promote your business to your acquaintances well as through social media. Also it is good to have your own website where you can showcase your design.

Starting an Online Store

Starting an online store is yet another good business idea. Just choose the products you want to deal in and decide whether you would like to go for drop-shipping or stocking the products you want to sell. As regards creating the e-commerce site, there are many platforms like Zepo, Shopify, and FreKart that will help you in this regard.

Starting a book shop is an affordable and nice business. One can opt to sell used books also, as they can be procured at a low cost. While there are many these days who prefer to order books online, and others who read e-books, there is still that category of readers who like to hold a book in the hands and read it, rather than reading it on a screen. So if you can rent a space near educational institutes or in a popular market area, your bookstore will surely earn profit. Coffee shop bookstore is also a cool place that people like to visit. So if you have enough space and required skills, you can also start a coffee shop alongside your bookstore to attract more customers.

Fashion Store

If you love to look stylish and fashionable and has a god fashion sense, you may consider opening a fashion store. To start with find a niche for yourself and start dealing in your niche. For example you can begin with a kids fashion store, and expand later to other niche as well, with increase in budget. You can also consider establishing your online presence and sell your clothes online.

Babysitting

Babysitting is also a business that requires very less investment. If there is space, you can start this business at your home itself. You just need to invest in some good toys, books, etc. to keep the kids busy. Also healthy food should be made available.

Craft Store

Opening a craft store is a viable business option. You can either create your own piece of art for selling in the shop or procure art and craft items in bulk and sell the same at retail rates. Craft items have a good profit margin when bought in bulk.

If baking is your passion, a bakery is a good business you can start. To keep the investments on the lower side you can opt to start a home bakery or a cloud kitchen. In home bakery and cloud kitchens, you just need to cook and deliver the food items, without any hassle of making sitting arrangements. Thus your rent is saved.

Online Advertising

Online advertising is what many businesses opt for these days, as online advertising is a great way to reach a wide audience. As such starting your own online advertising business is surely a profitable option. As an online advertising company you can provide services such as website designing, SEO services, PPC advertising, Social media marketing, content marketing and e-mail marketing.

Dancing and Music School

If you are a trained singer or dancer, music and dance classes can be a good business you can start. When started in a very small scale at home, you do not require any registration or licensing. Once you feel confident enough, you can scale up your business.

Sell Handmade Products

Handmade products are in demand these days. So you can make and sell handmade soaps, incense sticks, candles, etc. to make profit. The Government of India offers affordable training courses where you can learn to make these goods. You can sell them online, and as you scale up you can tie up with spas, salons, hotels, etc. for selling the products.

Other than this, you can also consider selling home made jams, pickles, chocolates, etc. Homemade stuff can be also be sold through sites like Etsy.com.

Consulting Business

Consulting services can be offered in various fields such as accounting, auditing, insurance, career, taxes, business and more. You just need to spot your area of expertise and start your consultancy accordingly. Try to get initial customers from your acquaintances and give them the best services so that you can benefit from word of mouth publicity.

Real Estate Agency

If you have interest and knowledge about real estate, you can become a real estate agent. You can choose from dealing in residential properties, commercial properties, or plot investments to start with. Get the required licensing, gather the required information and knowledge about the property you are dealing in, and promote yourself well so that you can reach out to your target customers.

Travel Agent

With the boom in the travel and tourism industry in India, starting a travel agency is a great business idea. You can choose to deal in anything: air ticket booking, hotel booking, selling travel packages, or all of them.

Web Maintenance Service

With every business going online, there is a rising need for web maintenance services. Website maintenance is required to keep a website error-free, up-to-date user friendly, and safe. In current times, web maintenance service can be a profitable business to start.

Event Management Business

Do you feel that you have what it takes to organize an event successfully? If yes, an event management company is something you should start. With the boom in the event management segment in India and worldwide, event management surely is the right place to be in. To start with, you can mange events for family and friends to get the exposure, and also do some thorough research on managing successful events. Being a first timer, you may find it overwhelming to provide all the event management related services. So you may start by offering one or two services like visitor management services, flower decorations, press and publicity services, etc. to big event management companies. Once you are confident enough, you can take the plunge to start your own full-fledged event management company.

Amazon Seller

Becoming an Amazon seller is a lucrative and profitable initiative. Currently there are over 5 lakh sellers registered with Amazon India. The best part about being a seller with Amazon is that you can reach out to a wide customer base not only within Indian but globally; Amazon takes care of everything from delivering the products to the customers to transferring money to your account.

Not just money, YouTube can actually turn you into a celebrity. If you choose to be a YouTuber, you can make money through various streams. You can earn money by becoming a YouTube partner, by selling your merchandise through your YouTube Channel, or by creating sponsored content. There are options where your fans can pay you directly. If you are a viral content creator, you can even make money by letting media houses use your content and get paid in return.

Looking at its popularity, podcasting can be a good business too. There are many ways in which a podcaster makes money. There are businesses who sponsor podcasts and that means a good source of revenue. Podcasters also earn from donations and crowdfunding by selling their own products and services, or through affiliate marketing.

Also Read : Everything you Need to Know About Podcasting

E-Book Writing

With all the craze around e-books, being an e-book writer can also prove to a profitable business. Before diving into writing an e-book, you need to find your area of expertise and interest, and write something which will create value for your readers. Once written, it's important to extensively promote your e-book to the relevant audience to generate more sales. You can sell your e-book through your own website, on Amazon's Kindle Direct Publishing (KDP) platform, or through other publishers.

Also Read : All You Should Know about E-books

Laundry Shop

Services that make the household chores easy are gaining popularity fast. Laundry service is one such life saver for the millennials. A well-managed laundry business is something you can start and earn profit from. You would need a staff to take care of washing, ironing, etc. Regarding marketing, targeting young people, working professionals, and tying up with co-living space providers can help significantly.

Tailoring is one of those businesses which can be started with low investment. Depending on your budget and skills, you can start tailoring at a small level from your home with a sewing machine and once budget and experience permits, you can launch a boutique. Upon expansion, you may buy a pico machine, interlock machine, embroidery machine, etc. and diversify your specialities in tailoring.

Home Cleaning or Corporate Cleaning Services

Cleaning is an essential service that individuals, organizations, and others cannot live without. With the uptick in the number of corporate offices, co-working spaces, co-living areas, and serviced apartments, the demand for home cleaning and corporate cleaning facilities has surged. Hence, starting a business in this domain is certainly a good idea.

Home Maintenance and Repair Services

There is lot to do when it comes to home repair and maintenance. From electrical work to painting, plumbing, carpentry or roofing, many chores needs to be taken care of. Considering the huge demand, a home maintenance and repairing business can surely turn out to be a profitable one if executed right.

Catering Business

If cooking and feeding people makes you happy, then the catering business is for you. All you need to invest in is cooking utensils, ingredients that will be required for cooking, and some helpers. Once your setup is in place, you can start taking orders and supply food for parties, functions, and other events.

Grocery Shop

A grocery shop does not require much investment. The most important factor you need to keep in mind is that the shop should be in a good location. Try to provide the variety of goods that people demand, be open to home delivery facility, and watch as you gain loyal customers.

Mobile Repair Shop

As reported by market research firm techARC, India had 502.2 million smartphone users in 2019, and the number is ever increasing. Given the scenario, a mobile repair shop can undoubtedly be a profitable business you may consider. Besides repairing, you can also sell accessories and provide mobile recharge facilities in your shop.

Paper Bag, Cloth Bag, or Jute Bag Making

With the buzz around the danger of using plastic, manufacturing cloth bags, jute bags, and paper bags is an eco-friendly way of making money. With proper marketing and the fabrication of reliable bags, you will end up with a pretty solid business.

These business ideas might seem small as they only need an investment of INR 1 lakh or less. But the sky's the limit when it comes to profits. Once you establish your foot with these initiatives, you can easily scale your business to the next level. Focus on marketing and correctly executing your business model. You may not see overnight results, so hold your horses and be patient. Are you aware of some other business ideas that can be started with a low monetary investment? Do comment.

Must have tools for startups - Recommended by StartupTalky

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43+ Best Small Business Ideas in Bangalore for 2024 (Low Investment & High Profit)

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Bangalore, officially known as Bengaluru, is the capital and the largest city of the Indian state of Karnataka. Bangalore is known for its pleasant climate throughout the year. Bangalore is known as the Silicon Valley of India. Want to start your venture in the Silicon Valley of India in 2024? Check out this article and get all the Best Small Business ideas.

Why Should You Start a Business in Bangalore?

Possessing their own business is the dream of many people in India; it is like starting a new venture with new challenges. Though challenges are there, many people still believe instead of owning a small business, get a job in a giant company. There are a few perks and benefits; here are some of those:

Entrepreneurial Spirit:  Almost 76% of new-age entrepreneurs are happier with their venture than any employer in a company. Running a business is not just proof of inner entrepreneurial spirit but can also be exciting because of achieving success through hard work and dedication.

New Skills:  Owning a business means people can monitor their lifestyle and innovate with head office orders; they will get more control over their work. It is accurate, and you have to believe that jobs mean limited skills surround you, and there will be no extra time to gain new knowledge. When one has his own business, he can mentor himself for new and developed skills that will always help him go one step ahead.

After Retirement:  Those who retire from their job start a new business because it can keep a workaholic busy. Of course, it will allow a person with a tight schedule to monitor the interaction.

Positive Impact:  Many new-age small business ideas help the local community with their products and services. It can spread a positive impact on people. Besides, when you are the owner, you can provide jobs to other people and be an active member among those who want to decrease unemployment issues in the country.

Overcome From Risk:  Owning a business indeed brings a lot of risks, but it is also true that the more you overcome the risk, the more you will reap the success and rewards.

Passionate:  If you can meet a natural entrepreneur who is passionate about their work, you can see that they can sit for a long day without any hesitation or frustration. Because they are following their passion, they can have fun while working.

Feedback:  Last but not least, you can connect with your clients really quick, and they will be energized by automated emails. Instead, they will get to know the business owner and can get suggestions or feedback, if any, face to face. It can make the business more successful quickly.

According to an article published by Karnataka.com , Bangalore will be the city to hit the highest GDP growth by 2035.

So, there are lots of perks and benefits of possessing your own business. Especially when one is planning to start their new journey in the IT capital of India, let’s check why people are moving to Bangalore to create their small-scale businesses.

Why is Bangalore the Best Place to Start a Small Business in 2024?

Finding the best and most convenient place to start a new business is challenging. When a city or location for small businesses is chosen, one should consider some essential factors. It can be connecting with mentors, highly skilled people, cutting-edge technology, transportation system, etc. ‍ Keeping all this in mind, it is certain that Bangalore has the perfect atmosphere where startup ideas can increase in less time. Here we have pointed out some critical factors that make Bangalore the most crucial place for starting a new-age small business, especially in 2024.

List of Angel Investors in Bangalore

An angel investor is typically wealthy and frequently uses their finances to generate seed capital for enterprises. They may donate one-time money to help a firm get off the ground or continue funding to support the business through its challenging early phases. The role of angel investors in early-stage firms has grown over time and is now unassailable and irreplaceable.

Here are Some of the Angle Investors Based in Bangalore ‍

1. Sachin Bansal

2. Krishna Jha

3. Pallav Nadhani

4. Kris Gopalakrishnan

5. Aprameya Radhakrishna

6. Ganesh Krishnan

7. Kanwaljit Singh

8. Sharad Sharma

Reasons for Being the Best Hub for Start-Ups or Small Business Ideas

Bangalore- the “Silicon Valley of India” or “the technology capital of India.” Bangalore is equipped with the best financial support and an entrepreneurial ecosystem. Besides, this city has networking facilities that adopt startup business ideas. There are more reasons why Bangalore became startup heaven.

Check these reasons below:

• The high density of investors
• Top-notch infrastructure
• Cost of livelihood
• Youth talent
• Media exposure
• Lots of foreign companies

Let’s talk about these in detail.

1. The High Density of Investors

Funding is the most essential and first step to starting any new venture. When it comes to Bangalore, there are lots of opportunities than in any other place. Many industrialists or angel investors are there in Bangalore, so accessing the fund for startup businesses or small business ideas is easy. ‍ Starting a business also needs a proper state of mind, business guidance, motivation, a good vision, and the appropriate direction for business ideas. When one has a guardian as an investor, he can get all of these from the investor. ‍

It will be easier to step into the business. Another important thing can be the application to the Karnataka Government for funds. Karnataka Government provides a fund if the business owner registers the company under the Karnataka Shops and Commercial Establishment Act, 1961.

2. Top-Notch Infrastructure

Faster economic growth is always dependent on the infrastructure of the place. To expand the new startup ideas, it is mandatory to be equipped with top-notch infrastructure that may include transportation systems (railways, road services, airports, power systems, etc.). ‍ It will be easier for a small business owner to expand the business if he can access a well-connected transport system with high-quality broadband and a proper network to be connected with other places. Bangalore is one of those cities that provides all of these mentioned earlier. ‍

3. Cost of livelihood

When one starts his new journey with a small business, it is always preferred that the location is budget-friendly for spending his daily life. Compared to any other megacity, Bangalore is the one that provides a lower cost of living still now. So, it is always preferred by new-age entrepreneurs.

4. Youth Talent

Bangalore has lots of technical colleges, management colleges, and business-based educational institutions, which means Bangalore is enriched with lots of young talents. Apart from these, many young tech-savvy people are moving to Bangalore. So day by day, Bangalore is becoming the one-stop youth place that helps small business ideas to get young and new-age talent into the business.

Climate is another crucial part because climate can change the state of productivity, concentration on any work, and even sometimes efficiency People love to start a business in such a place where the atmosphere is always calm and soothing.

Bangalore is such a cosmopolitan city where the climate is soothing and perfect for maximum efficiency. So, this place became the ideal hub for startups or small business ideas.

6. Media Exposure

In Bangalore, many media or news houses, specifically the business news media, covers startups and business-related details. So, Bangalore is the perfect place to get a huge audience or media exposure. A small business idea can expand soon through a massive reach to business insights.

7. Lots of Foreign Companies

In Bangalore, there are lots of headquarters of foreign companies. This can help one newbie understand the worldwide business culture. This will help the businessman know his competitor in the market and their work or product details.

So, these are some primary reasons why Bangalore is at the top of the list of favorite startup places. If you can pay attention to many companies in Bangalore, you will be amazed that those companies were just budding startups or small businesses 7 to 8 years ago. 

Business-Related Statistics to Make You Understand the Value Of a small Business Idea.

As of now, India is the third-largest startup-friendly country, says the report for 2021. The first two countries are the USA and China. In 2021-22, the Indian government gave new registration to approximately 14000 new startups or small business ideas.

‍ ‍ Now, there are nearly 62000 startups in India. An economic survey showed that in the year 2021, 555 districts held the records of a minimum of one startup business idea. In 2016, this number was against 121 sections.

‍ ‍ Besides, in 2021, nearly 44 startup business ideas were recognized as Unicorns. In case you don't know, Unicorn is a company that has a valuation of $1 billion. The previous year's record says there are 83 unicorns in India, which holds a total valuation of $277.77 billion. And you will be amazed that these unicorns contribute nearly 50% of India's GDP.

Though the Covid 19 pandemic has changed a lot, investors are still investing in India's emerging market. So, it is easy to invest in startups or small business ideas even after the Covid 19 pandemic. ‍ So, when all facilities are just in front of the eyes, it will be beneficial if one starts a small business idea in Bangalore in the year 2024.

Before providing some small-scale business ideas in Bangalore, we must briefly describe the meaning of a small business idea.

What is a Small Business Idea?

A small business can be described as a privately owned corporation, partnership, or sole proprietorship, including fewer employees and less yearly revenue than a corporation or regular-sized business. Small businesses can use the same quality management systems used in any giant corporation or brand. 

Advantages of small Businesses

• Small business owners can decide with whom they can do business or when they will do the business work. Besides, these businesses are flexible. Any step can be done if needed in a small business idea.
• One must focus on a compact skill set as a small business owner. This can give two side benefits- the owner can understand their specialism particularly; on the other hand, the client can know that the owner is good to go for a deal. Customers will also appreciate the owner's in-depth knowledge of the manufactured products.
• A small business means the owner has wholesome freedom to create something innovative within a specific market parameter.
• Possessing a small business means the owner revolves around a particular niche where they can connect with clients quickly. It will be more satisfying when the customer loves the buzz of manufacturing something unique. Besides, nowadays, clients love to meet face-to-face with small business owners. And q 15 minutes of face-to-face meetings can be more fruitful than a two-three day's virtual emails or chatting.
• Small businesses include fewer employees, fewer layers of business, and a compact business model. That means the small business owner has a great understanding of his business and other related details.
• Before making any new decision, the owner only needs permission from the company's management body because the entrepreneur is his boss here.

So, now you know the advantages of a small business; you are ready to rush into various small business ideas that you can expanded in 2024 in Bangalore.

Best small Business ideas in Bangalore in 2024

As we mentioned earlier, Bangalore has the perfect hyperactive economic scenario that energizes any startup or small business ideas to gain a lot of reaches; those who want to be the ones with valuable business ideas and financial stability in Bangalore can expect a tremendous rate of profit in return.

Here are Some of the Best Small or Low-Cost Business Ideas in Bangalore in 2024

Here we are adding some of the best small or low-cost business ideas

1.Grocery Store with Delivery facilities

The first fundamental business idea is a grocery store, which can now be armed with delivery service. Bangalore is a bustling city where people run to the office and then home. ‍ They need more time to go shopping. They need more time to buy daily needs. In this scenario, this business idea can be the savior and profitable for the business owner. One needs to locate an appropriate place to start this business. No doubt, this business has the potential to expand quickly.

2. Healthy Fast Food with Delivery Service

People are busy and need more time to prepare breakfast or a meal for lunch to carry to their office. So, usually, they grab fast food from the local center. But as they are health conscious, they search for healthy food centers. ‍ You can think of a healthy food truck or a healthy food counter that can be a manageable investment. Remember, you need to find the prime location outside a huge corporate sector office or any other neighboring office. You can also start a delivery system for those who need help getting out of the office. It can work as one of the best business ideas in Bangalore.

3. Organic Food Corner

Many people in Bangalore are health-conscious and started loving organic food products. You can start cultivating in your area or just in a rented place to develop organic food products. You can also begin delivering at the doorstep to get the best result soon. Because nowadays people love to get everything just at their doorstep.

4. Bakery or Homemade Chocolates

Bakery is always in demand- let it be a small town or a giant megacity. Who doesn't love the flavor of freshly baked hot cake? Though there is a lot of competition in the market, you can start this bakery business with a little twist, like personalized cakes, handmade chocolate, a live frosting counter, a live chocolate counter, etc. You can also sponsor any corporate events, and by this, you can get bulk orders.

5. Catering Business

As Bangalore has a vast population, there are many events, social gatherings, housewarming parties, birthday ceremonies, and other grand celebrations. You can add orders for these huge parties if you own a catering business in Bangalore. That means you are getting a chance to reach more people. It may need a bit high investment, but that is less than any big-budget business idea.

According to  The Hindu Business Line , The NRAI has revealed that the Bangalores organized food service market ranked third among all other metros in India, valued at Rs 20,014 crore in 2019. ‍

6. Paying Guest Services

In Bangalore, lots of people come for jobs, education, etc. They always need a reasonable accommodation, but they need help finding one because complete paying guest services are not so professional. If you can handle this business idea, you can be one of their choices. Think about it! You need your own empty spaces.

7. Gift Shop

Bangalore is a good hub for tourists. When they return home, they want a small gift or souvenir. To use this idea, you can start checking out the local handicraft industry. This can help you set up a perfect souvenir shop that can profit considerably.

8. Luxury Tourist Plans 

As we mentioned earlier, Bangalore has a lot of things to explore by tourists. If you also love to explore the city daily, you can start your own tourist business that will help people get the idea of traveling to various sports in Bangalore. You can also operate your tours to be the guide for tourists.

9. Real Estate Manager

There are lots of people who are in search of new accommodation, or they want to shift to a new apartment. You can give them advice about the perfect real estate. You can be a professional real estate manager if you can handle clients with your ideal customer relationship skill.

10. Daycare or Childcare Business

Working parents need clarification about how to take care of their children during office time; you can be the savior by taking care of them. A daycare or Childcare business is ideal for people who enjoy the company of children. Not only can you take care of their children, but you can also teach them new fun activities that will grow the child's mental health.

11. Cleaning Service

Cleaning services are now quite in demand because it is not just for commercial purposes, but also it is helpful for households too. People are getting engaged more with their office work or professional life. ‍ They hardly have any time to take care of their home. In this situation, a cleaning service is the only option to take care of their home. This business can provide a massive return because it is in demand nowadays.

12. Handyperson Services

This is something every busy place need. Especially in huge office buildings or top-notch apartments, there is always a need for handypersons. Finding an active area to start your business idea would be best.

13. Floral Business

 Nowadays, almost every celebration or party needs flower arrangements. If you are also in love with flowers and want to start your business with your loving things, you can start this one. You can begin personalizing flower bouquets as per orders; you can also deliver those to get more reach. 

According to  Karnataka.com, of the total flower production in India, Karnataka contributes 75%; also, India's first and only flower auction center is located in Karnataka.

14. Mobile Parlor

The mobile food truck is now quite common, but do you know about the mobile parlor? Yes, this can be a new kickstart to your business. Just rent a big van and equip it with personal care accessories. You can start your business by roaming in various places and providing the beauty services like hair care, face care, skincare, manicure, pedicure, etc.

15. Designing

‍If you have a good sense of designing things, you can start creating various products like customized dresses, handbags, shoes, ornaments, etc. You can also personalize these designs as per the order. Also, to get massive traffic to your small business, you can sponsor special corporate events where these things are gifted.

16. Tailoring

You can start this business because nowadays people demand designs for their dresses. If you can open a tailoring business, you can start personalizing their choices as per orders.

17. Photography or Cinematography

Suppose you are passionate about photography or cinematography. In that case, you can start your studio where you can take various orders for photography for corporate events, social get-togethers, parties, wedding ceremonies, and so on. Before starting, make your professional portfolio and be clear about your price rate.

18. Gym and Personal Trainer

People are now very much health conscious and want to be trained in physical work at their own pace. If you are confident enough to give them proper instructions on working out in or gym, you can start working as a personal trainer.

19. Social Media Influencer

As we all live in the digital era, we look forward to learning something new and effective from social media influencers. If you have this much capability, you can start working as a social media influencer. ‍ You can target various niches like fitness training, cooking, gardening, painting, interior designing, self-help, personality development, language learning, etc. You can also choose a particular genre on your own.

‍When you are living in Bangalore and making social media a place to influence people with a positive vibe, you can get massive exposure quickly.

20. Digital Marketing

As we all live in the digital era, we look forward to learning something new and effective from social media influencers. If you have this much capability, you can start working as a social media influencer. Living in an age of digitalization makes us used to everything that can be digitized. The marketing strategy also can be done through the digital medium. You can start this as your business from your home. Though you need to be very professional before starting this business, the success rate is tremendous for this modern-age business idea.

21. Interior Decoration

People love to decorate their homes uniquely. To help them out, you can start giving them planning on interior design. To start this business, you need to possess a professional degree in interior design or architecture; you can earn very well from this business. Besides, you can start working at your own home. You can also customize some design materials and sell them to clients to enhance their interior design.

22. Event Management

Busy schedules and a vast gathering- can not be done together, especially in a city like Bangalore because it works 24*7. To provide support in throwing a party overnight or a grand event, you can start work as an event manager. ‍ As an event manager, your duty will be to provide them with the whole event. From decoration to maintaining guests, from food to celeb’s presence-each and everything will be your responsibility. If you can throw your best at those grand events, you will get a considerable reach there too.

23. Vlogging

Video blogging or vlogging can be an exciting business idea if you can do well. Vlogging paves a path of direct connection with your followers or customers. Vlogging can be an excellent small business because it will provide a human face to your products or services. ‍ To start vlogging, one must have an aesthetic mindset and professional video editing capability. This industry is now in trend, and in Bangalore, no doubt this small business can turn out as a huge one.

24. Medical Help

Sometimes medical emergency at home is very much critical. Because it is not always possible to go to the hospital, in that case, you can be a medical care provider at the doorstep. ‍ You can start basic medical care facilities like teaching yoga, physiotherapy, speech therapy, emergency medicine, etc. This business idea will boom the market, especially after the covid 19 pandemic. This idea can work anywhere in Bangalore.

25. Disc Jockey

A party without a DJ or a disc jockey is so dull. You can be the cause of ultimate fun at any casual party. Bangalore is filled with lots of pubs, restaurants, events, etc. If you want to start your career as DJ, you can begin quickly without any hesitation.

26. Handmade Soaps and Organic Healthcare Items

Handmade soap, skincare products, or other homemade organic products are in huge demand. You can make charcoal soaps, pure rose water, natural shampoos, DIY hair care oils, etc., and start trading them through an online site or any social media platform from your home only.

27. Garden Cafe or a Unique Cafe

If your house is near any office area, you can try some unique cafe ideas in your side garden or a small verandah. You can add some fun activities in a cafe, such as reading books, standup comedy shows, guitar competitions, etc. ‍

‍ You also can opt out of some exciting rewards for winners. Besides, add some unique dishes, son coffee, teas, and other beverages, snacks, etc.

28. Cold Storage

People need fresh food always. To keep them fresh, one has to use cold storage. You can start this business to supply fresh foods to people.

This business has a great future if executed nicely.

29. Thrift store

This idea of the thrift store is unique as well as sustainable too. Those in need can collect old clothes from a thrift store for the lowest price. It is profitable and quite helpful for needy people too.

30. Packaging and Moving

When someone is moving to a new place, it is very tough to transfer all households together; IN that case, they need a logistics service that will help them pack and move things without any damage. This business idea is always in demand and quite profitable too.

31. Book Counter

Those who are fond of books can think about this business. Along with books, you can collect various journals, magazines, and old manuscripts so people can buy them from you. Booklovers are everywhere. So, this business can be unique as well as profitable too.

32. Software Engineer

Those who are good at computer science can open their software design firm as Bangalore is one of the most important tech hubs in India, no doubt this business idea will increase vast exposure in this city.

33. Graphic Designing

Graphic designing is now one of the highest-paying business ideas, especially in a megacity like Bangalore. You can take contracts for bulk orders from any other companies or individuals.

34. App Development Services

Bangalore is enriched with technology, and there is always a huge demand for apps through which one can operate. You can start developing apps as per your client’s needs. This is an evergreen business idea, especially in this digital era.

35. Pet Care

 Taking care of pets within a busy work schedule can be challenging. You can start your pet care center where all services will be available, and you can earn a hefty amount; it is a great career option for pet lovers.

36. Fashion Stylist

Nowadays, all want to be unique regarding fashion or style. You can start working as a personal fashion advisor for people. You can contact any modeling agency too. Besides fashion, you can also take care of makeup and other style statements.

37. Dry Cleaning Services

It is one of the highest-paid business ideas among Bangaloreans. If you have all kinds of facilities for dry cleaning, you can start your dry cleaning service and cut down the massive rate of other service providers.

38. Preschool or Playschool

If you love spending time with loving children, you can start preschool. It is a very lucrative yet profitable idea in Bangalore. You can also buy a franchise from any preschool.

39. Tattoo Parlor

Demand for tattoos is growing daily, and it is now a lucrative option to start a business. It is popular with the young generation, celebs, and other people. If you are good at this, you can earn handsome money from this tattoo parlor of yours.

40. Tutorial Center

Coaching or tutorial center is now a flourishing business idea. Maximum guardians and students look for a premium quality coaching center where they will receive a quality education—an excellent option for people who love interacting with children.

41. Recruiting Agency 

There are lots of recruitment agency who is already in the city. But as Bangalore faces new companies every day, here is a chance to start your recruitment firm to help those new companies.

42. E-commerce Business

Nowadays, all kinds of businesses want to connect with internet audiences to sell their products or services. This service is much needed here because Bangalore is enriched with technology and brands. If you have an idea for an e-commerce marketing platform, you can easily use this platform to earn a good buck.

43. Freelance Writers

Marketing and advertising are always the main parts of any business; for these two, all companies or firms need to start with their marketing copy. You can start working as a freelancing content writer to work on their marketing copies. It is now a unique and trendy business idea, especially among the young generation. ‍

44. Juice Corner

 If you are passionate about preparing new beverage ideas, you can start your juice corner to serve people. It can work well in any busy location, like near office areas, corporate sectors, etc.

It is okay now to tell you that Bangalore is the perfect place to start a new small business to get a high return. Though there are many risks in business, you can settle down your business in Bangalore with the help of the Fynd platform, a new-age e-commerce platform that gained the trust of many business owners. ‍ To start a business means you have to keep your eyes on every single side of the company. With this Fynd platform, you can get all the tools to sell and manage your products at your own pace. ‍ Any newbie small business owner can also start their website to sell products or services with the help of the Fynd platform. So all the best for your new ventures in Bangalore!

Which business is most profitable in Bangalore?

There are lots of business ideas that are profitable in the megacity like Bangalore. Some of those are:

• Grocery store
• Personal work out trainer
• Tattoo artist
• Daycare service
• Dry wash services, and more.

Is it possible to earn money without investment in Bangalore?

In Bangalore, it is possible to earn money without investing like:

• Online surveys
• Web designing
• App development, and others

What business can be done with 50000 at hand?

With an amount of 50000 at hand, one can start photography, cinematography, clothing designing, customized gift store, etc.

What are the legal steps to open a shop in Bangalore?

Here are the steps through which you can start your own shop:

• Approve your company name
• Get the director's identification number
• Get the digital signature certificate
• Stamp the papers of your start-ups or business
• Get the certificate of incorporation
• Make a seal for your business

Which businesses are in trend in Bangalore?

Nowadays, these below-mentioned business ideas are in trend:

• Freelancing copywriting and creative writing
• Online tutoring
• Social media influencer
• Website designing
• App development

What are the trendiest home-based business ideas in Bangalore?

Here are some of the trendiest home-based businesses in Bangalore:

• Freelancing writings
• Web designer
• Cake baking
• Verandah cafe
• Organic soaps and personal care items, and others.

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Low fees, high benefits: How to choose the best 529 plan

The best 529 plans have low costs, varied investment options, high contribution limits, and state tax benefits.

Becca Stanek

Becca Stanek has worked as an editor and writer in the personal finance space since 2017. She previously served as the managing editor for investing and savings content at LendingTree and an editor at SmartAsset. Prior to that, she was a staff writer at The Week. She’s currently freelancing for publications including SoFi, Forbes, and The Week while she earns her MFA in creative writing.

Renee Fleck

Renee Fleck is a student loans editor with over five years of experience in digital content editing. Her work has been featured in Fast Company, Morning Brew, and Sidebar.io, among other online publications. She is fluent in Spanish and French and enjoys traveling to new places.

Updated April 6, 2024, 2:21 PM EDT

Fox Money is a personal finance hub featuring content generated by Credible Operations, Inc. (Credible), which is majority-owned indirectly by Fox Corporation. The Fox Money content is created and reviewed independent of Fox News Media. Credible is solely responsible for this content and the services it provides.

College isn’t getting any cheaper: According to the College Board , attending a four-year, in-state public college topped $28,840 for the 2023-2024 school year, an 11% increase in just five years.

So, it’s in your best interest to start saving as early as possible for future higher education expenses, even if your child is only starting to learn his ABCs.

A smart way to start is with a 529 plan, a tax-advantaged savings account designed to help fund many different forms of post-secondary education, including trade and technical school, registered apprenticeships, and graduate and professional studies.

“529 plan funds can cover the cost of tuition and fees, room and board—if attending at least half-time—as well as required books, computers, supplies, and/or equipment,” says Patricia Roberts, Chief Operating Officer at Gift of College, Inc. , and the author of Route 529: A Parent's Guide to Saving for College and Career Training with 529 Plans .

The money can also be used to make qualified education loan repayments of up to $10,000 per beneficiary. In some states, 529 plan funds can also be tapped into for K-12 tuition expenses.

We crunched the numbers, spoke with industry experts, and evaluated each company based on established methodology to determine the best 529 plans. Our picks are:

• my529 (Utah)
• Bright Start College Savings (Illinois)
• Ohio CollegeAdvantage (Ohio)
• Michigan Education Savings Program (Michigan)
• Smart529 WV Direct College Savings Plan (West Virginia)
• Invest529 (Virginia)
• 529 Savings Program (New York)
• Future Scholar 529 College Savings Plan (South Carolina)
• The Education Plan (New Mexico)

529 terms to know

To better understand how 529 plans work and their benefits, it helps to start with the terminology. Contribution limits and tax benefits generally apply to each investment account beneficiary.

• Income tax deduction: This is an amount you can deduct from income on your state income taxes. There is no federal income tax deduction for 529 plans, and you generally need to be a state resident to claim a deduction for contributions to that state’s plan.
• Tax credit: This reduces the amount of tax you owe on a dollar-for-dollar basis, making it a better benefit than an income tax deduction in many cases.
• Annual contribution limit: 529 plans don’t have annual contribution limits, but state tax benefits may only apply to contributions up to a certain amount.
• Aggregate contribution limit: 529 plan rules limit how much can be contributed on behalf of a single beneficiary over the lifetime of all accounts per state. States set their own limits.
• 529 plan fees: Plan fees, or asset-based fees, generally consist of administrative or program management fees plus underlying fund-specific expenses. 
• Static portfolio: Investment allocations are fixed and do not update or adjust based on age but may be periodically reallocated to match investment goals. It’s up to the account owner to change a static portfolio.
• Age-based and enrollment date portfolios: These investment blends are designed to automatically re-allocate, generally to a more conservative mix, as the account grows and college enrollment nears. This plan type may carry less risk than a static portfolio and is designed for less experienced investors.

Best 529 plans 

1. utah’s my529: best for highest contribution limit and state tax credits.

My529 is Utah's official 529 plan. You don't have to be a state resident to participate or use the account funds at a Utah school. No minimum contribution is required to open Utah's my529 plan, and the plan's aggregate contribution limit is among the highest of any state. Utah’s plan is one of the few offering tax credits.

There are various investment options, including portfolios that automatically adjust depending on target enrollment date or age and static portfolios in which you can choose specific investments or allocate based on risk. 

• Tax benefit: Utah taxpayers can claim a state income tax credit of up to $109.66 for single filers or $219.31 for married filing jointly. 
• Aggregate contribution limit: Up to $560,000 across all accounts for the same beneficiary.
• Fees: Total annual asset-based fees range from 0.131% to 0.453% depending on investments, including underlying fund expenses and administrative fees.

2. Illinois’ Bright Start College Savings: Generous state income tax deduction

Illinois' Bright Start College Savings plan boasts a generous state income tax deduction for Illinois taxpayers and a high aggregate contribution limit. The plan's fees are competitive, though they can be on the high side depending on fund selection, and there’s no minimum required contribution to open an account. 

Investment options include 17 fund portfolios from mutual funds families, including Vanguard and T. Rowe Price, and age-based and target portfolios.

• Tax benefit: State income tax deduction for Illinois taxpayers of up to $10,000 for single filers and $20,000 for married filing jointly.
• Aggregate contribution limit: $500,000.
• Fees: There is a 0.07% program management fee and a 0.025% state fee. Investment expenses range from 0% to 0.67%, and total asset-based fees range up to 0.77%, depending on your chosen fund.

3. Ohio’s CollegeAdvantage: Best investment plan options

You'll only need $25 to start saving with Ohio's CollegeAdvantage 529 plan, the minimum contribution amount. The CollegeAdvantage Direct Plan offers a slew of investment options, including ready-made, age-based, and risk-based portfolios. Plus, individual investment options and FDIC-insured tax-free bank accounts from Fifth Third Bank are available on Ohio’s 529 plan. Many of its investment options are managed by Vanguard, with some overseen by Dimensional Fund Advisors.

• Tax benefit: Ohio residents can claim a state income tax deduction of up to $4,000 per year per child. If they contribute more in one year, they can carry the amount forward to deduct in future years. 
• Aggregate contribution limit: $523,000.
• Fees: Total annual asset-based fees range from 0.00% to 0.425%, depending on investments.

4. Michigan’s Education Savings Program: Best for low fees

Michigan's Education Savings Program boasts very competitive fees and benefits for Michigan taxpayers in the form of state income tax deductions. The initial deposit and subsequent deposits must be at least $25. Investment options include portfolios based on enrollment year or capital preservation (for short time horizons), plus customizable portfolios for more experienced investors.

• Tax benefit: State income tax deduction for Michigan taxpayers of up to $5,000 for single filers and $10,000 for married filing jointly.
• Fees: Annual asset-based fees range from 0.065% to 0.185%, depending on investments.

5. Smart529 WV Direct College Savings Plan: Best for no maximum tax deduction

Whereas many states cap the maximum deduction for resident taxpayers, the Smart529 WV Direct College Savings Plan allows West Virginia residents to deduct their entire annual contribution from their federal gross adjusted income for state income tax purposes.

The plan has a high aggregate contribution limit, at $550,000, and investment options include a modest selection of age-based and risk-based portfolios, plus two individual portfolios.

• Tax benefit: West Virginia residents can deduct up to the full contribution from their adjusted gross income.
• Aggregate contribution limit: $550,000.
• Fees: Total asset-based fees range from 0.12% to 0.21% depending on investments.

6. Virginia’s Invest529: Best for older taxpayers and ESG funds

Virginia's Invest529 plan offers tax benefits for all state residents, but most notably for residents 70 and older, who can deduct the entire amount they contribute to the plan in one year. Ivest529 offers 20 different investment portfolios, including specialty portfolios like the ESG Core Equity Portfolio, for those concerned about the environmental implications of their investments.

• Tax benefit: State income tax deduction for Virginia taxpayers of up to $4,000; Virginia taxpayers age 70 and up can deduct the entire amount contributed.
• Fees: Asset-based fees on most portfolios are modest but could be as high as 1.11% for specialty portfolios. 

7. New York’s 529 Savings Program: Best for low fees and investment options

There's no minimum contribution amount to start saving through New York's 529 Savings Program , which boasts very low, straightforward fees. Vanguard is the plan's investment manager. There are 20 different target enrollment portfolios, and investors who would rather create their own investment mix can also choose individual portfolios.

• Tax benefit: State income tax deduction of up to $5,000; up to $10,000 if you're married filing jointly.
• Aggregate contribution limit: $520,000.
• Fees: 0.12% total annual asset-based fee.

8. Future Scholar 529 College Savings Plan: Best for no maximum tax deduction

Offered through the state of South Carolina, the Future Scholar 529 College Savings Plan has a high maximum contribution limit of $540,000. Residents of the state can take a state income tax deduction up to the amount they contribute for the year (up to the maximum aggregate account balance). Three different investment options are age-based, target allocation, and single-fund.

• Tax benefit: State income tax deductions up to the maximum account balance.
• Aggregate contribution limit: $540,000.
• Fees: Total annual asset-based fees range from 0.00% to 0.20%; no program management fee is charged. 

9. The Education Plan: Best for no maximum tax deduction

The Education Plan's college savings program is New Mexico's official 529 plan. New Mexico is among the handful of states that allow its taxpayers to deduct annual contributions up to the 529 account maximum of $500,000. There's also a DIY investment option, which allows you to choose any combination of available portfolios in the plan, or you can opt for an enrollment year-based investment strategy.

• Tax benefit: New Mexico taxpayers can deduct annual contributions up to the account maximum.
• Fees: Total asset-based fees ranging from 0.10% to 0.44%.

Related: How to pay for college: 6 strategies

529 plans by state 

Even if your state offers a 529 plan, you don’t necessarily have to choose it. You might prefer another state's 529 plan because of its investment options, lower fees, or higher maximum contribution limit.

However, it is always a good idea to check your state's plan first for 529 tax deductions or credits, special benefits, or waived or lower fees.

“If you need help choosing or would like to complement your home state's plan with another, remember you can have more than one account in more than one state's plan for the same beneficiary,” says Roberts. 

There are plenty of plans to choose from, and every state except Wyoming has a plan. 

Choosing the best plan

Several factors, including the costs involved, potential tax benefits, and investment options, must be considered when choosing the best 529 plan.

Tax benefits

Even if your state's plan has slightly higher fees, the tax benefits could offset those costs.

• Investment options

You can invest directly with state 529 plans or get guidance from a financial professional on finding the right plan for your goals.

Either way, you’ll need to know your investment objectives (like aiming to cover 50% of the cost of a four-year in-state public school degree), time horizon, risk tolerance, and other factors unique to your situation. 

“A popular option tends to be what is referred to as ‘age-based’ (with a professional investment design based on the beneficiary's age) or ‘target date’ (with a professional investment design based on the year in which the beneficiary is likely to pursue post-secondary education),” says Roberts.

Costs and fees

Costs vary by plan and the investment options you select. Fees can include enrollment or application fees, account maintenance, program management, and asset management fees. 

Also, consider whether a 529 plan is direct- or advisor-sold. Many states offer both options. A broker-sold option may provide more guidance in choosing a plan or investments but will involve more fees than a direct-sold plan.

Contribution limits

Not all 529 plans allow you to contribute the same maximum amount. 

If you're hoping to maximize a 529 education savings plan, it's worth seeing which plans have the highest contribution limits.

Keep in mind:

You can transfer unused 529 funds to another beneficiary, roll them over into a Roth IRA account (up to annual contribution limits, up to a total of $35,000), or withdraw the funds with a potential 10% tax penalty.

How to open a 529

Think you’ll have to invest a lot of time to open a 529? Think again.

To open a 529, you must provide basic information, including details for yourself and the account beneficiary. 

This information may include: 

• Social Security Number or Individual Taxpayer Identification Number
• Date of birth
• State-issued identification information, such as a driver’s license

Providing these details for a designated survivor is also a good idea.

From there, you'll need to finish setting up your account:

• Choose your investment options.
• Set up a contribution method. If you plan to make contributions electronically, you can fund them with bank routing and account numbers.
• Make an initial contribution (a minimum initial and/or ongoing contribution amount may sometimes be required).

Funding your account

You can open an account with as little as $25. Even better: Anyone can make contributions to the account.

Roberts recommends that friends and family skip the more traditional gifts for birthdays, holidays, and other special occasions and instead contribute any amount to the 529 plan account of a child they love. 

“Friends and family may welcome the suggestion to give a gift that will grow with a child they care about and have a meaningful impact on their future—versus shopping for something that may be quickly outgrown in interest or size,” she adds. 

Many companies now offer education on 529 plans, payroll deduction to these plans (to make it easy to contribute regularly), and even matching contributions to employees' 529 plan accounts. 

“The education and tools offered in the workplace are priceless because two-thirds of Americans are not familiar with 529 plan accounts and, thus, are missing out on one of the best ways to prepare for higher education.”

Fox Money rating

Fixed (APR)

4.07% - 15.48%

Loan Amounts

$1,000 up to 100% of the school-certified cost of attendance

Min. Credit Score

on Credible’s website

View Details

College Ave offers a wide range of in-school loans for nearly every type of degree. There are a number of repayment options, and borrowers can choose a unique eight-year repayment term. Plus, graduate, dental, and medical students receive extended grace periods.

You may get easy funding for multiple years — 90% of undergraduates are approved for additional student loans when they apply with a cosigner. However, it can be difficult to remove a cosigner for your loan later on, as you must complete at least half of your repayment term before becoming eligible. That’s significantly longer than some lenders, which may only require one to two years of payments before releasing a cosigner.

Interest rates

Fixed or variable

Minimum credit score

Does not disclose

Minimum income

5, 8, 10, or 15 years for most borrowers (law, dental, medical, and other health profession students have up to 20 years)

Loan amounts

$1,000 minimum up to your school’s annual cost of attendance; lifetime limits depend on your degree and credit profile

Cosigner release

After half of the scheduled repayment period has elapsed

Eligibility

Must be a U.S. citizen or permanent resident at an eligible institution. International students with a Social Security number and a qualified cosigner may also qualify. Applicants who can’t meet financial, credit, or other requirements may qualify with a cosigner.

4.09% - 15.66%

$2,001* to $400,000

Ascent offers several unique borrowing options that you don’t typically see with private lenders. In addition to traditional student loans for undergraduate, graduate, and medical programs, college juniors and seniors may qualify for its Outcomes-Based Loan — which doesn’t require established credit or a cosigner. Instead, Ascent reviews alternate factors such as your school, major, and GPA to determine your eligibility.  

Ascent also offers a wide range of loan terms and repayment plans to choose from. You may even qualify for its Progressive Repayment plan, which allows you to start with small payments that gradually increase over time. Borrowers who use a cosigner can release them after as few as 12 payments, though international students don’t qualify for this option. 

5, 7, 10, 12, 15, or 20 years

 $2,001 minimum up to your school’s annual cost of attendance; lifetime limits of $200,000 for undergrads and $400,000 for graduates

Must be a U.S. citizen or DACA student enrolled at least half time at an eligible institution. International students with a qualified cosigner may also qualify. Applicants who can’t meet financial, credit, or other requirements may qualify with a cosigner.

4.43% - 14.04%

$1,000 to $99,999 annually ($180,000 aggregate limit)

Powered by Cognition Financial, Custom Choice offers student loans for undergraduate and graduate students starting at $1,000. You can borrow up to $99,999 per year with a total aggregate limit of $180,000.

If you apply with a cosigner, you may be able to release them from your loan after 36 on-time payments. You can also receive a 0.25 percentage point discount on your interest rate by setting up autopay, as well as a 2% reduction of your principal balance after graduating.

Custom Choice doesn’t charge application, origination, prepayment, or late fees. It also lets you pause payments through forbearance if you qualify for its natural disaster or unemployment protection programs. 

7, 10, or 15 years

$1,000 to $99,999 per year (lifetime limit of $180,000)

Must be a U.S. citizen or permanent resident at an eligible institution. You must also meet Custom Choice’s underwriting criteria for income and credit, or apply with a cosigner who does. Eligible noncitizens such as DACA residents can also qualify by applying with a cosigner who’s a U.S. citizen or permanent resident.  

4.50% - 15.49%

$1,000 up to 100% of school-certified cost of attendance

Sallie Mae offers the Smart Option Student Loan to undergraduate and graduate students. You can borrow up to your school-certified cost of attendance and apply just once annually to get the funds you need for the entire academic year. Plus, it may be easy to get reapproved for your future years of study — undergraduates have a 97% approval rate when they return to Sallie Mae with a cosigner.

Through Sallie Mae, you can find a variety of loans designed for specific needs, including loans for MBA programs, law school, bar study, medical school, medical residency, dental programs, dental residency, and other health profession programs. However, this lender no longer offers a career training loan. 

10 to 15 years for Smart Option Student Loan; up to 15 years for law school and bar study loans; up to 20 years for medical school, medical residency, dental school, dental residency, and health professions loans

$1,000 up to school-certified cost of attendance

Must be a U.S. citizen or permanent resident enrolled in an eligible program. Noncitizens may qualify by applying with a cosigner who’s a U.S. citizen or permanent resident.

4.56% - 8.34%

$1,001 up to 100% of school certified cost of attendance

INvested is an Indiana company that offers affordable student loans exclusively to state residents. Loans are available to Indiana students and parents who can meet income and credit requirements, or who have an eligible cosigner. Borrowers can  borrow as little as $1,001 or as much as the school-certified cost of attendance minus other aid.

INvested provides detailed information on eligibility so borrowers can quickly determine whether to apply for a loan — however, there’s no option to prequalify with a soft credit check. Cosigner release is also available after just 12 on-time payments, considerably shorter than many other lenders. 

5, 10, or 15 years

$1,001 minimum, up to the school certified cost of attendance

Loans are available to Indiana residents only. Borrowers must have a FICO score of 670 or higher, a 30% maximum debt-to-income ratio or minimum monthly income of $3,333, continuous employment over two years, and no major collections or defaults in recent years. Borrowers who do not meet income or credit requirements can apply with a cosigner.

5.35% - 7.95%

$1,500 up to school’s certified cost of attendance less aid

Massachusetts Educational Financing Authority (MEFA) is a not-for-profit lender that offers low-cost undergraduate and graduate school loans to students nationwide. While only fixed-rate loans are available, interest costs may be lower than what you see with other private loans.

While you can apply with a cosigner to lock in the best rate possible, removing that cosigner later may be tough. Only one repayment plan allows cosigner release, and you must make four years of consecutive on-time payments and meet other credit and income requirements to qualify.

10 or 15 years

$1,500 minimum up to school-certified cost of attendance

Must be a U.S. citizen or permanent resident, enrolled at least half time at a degree-granting, nonprofit institution, and must maintain satisfactory academic progress. Must have no history of default on an education loan and no history of bankruptcy or foreclosure in the past 60 months. Applicants who can’t meet the minimum credit and income requirements may apply with a cosigner.

5.99% - 14.00%

$1,000 to $350,000 (depending on degree)

Citizens offers a variety of student loan types, including loans for undergraduates, graduate students, and parents. Perhaps the most unique feature of Citizens student loans is the option for multiyear approval. If you qualify, you can apply once and borrow for future years with a more streamlined process that only involves a soft credit inquiry.

Student borrowers can defer payments while in school and for six months after graduating. You can also score a 0.25 percentage point reduction on your interest rate for setting up autopay, as well as an additional 0.25 percentage point loyalty discount if you or your cosigner already have a qualifying account with Citizens.

5, 10, or 15 years for student loans; 5 or 10 years for parent loans

$1,000 minimum, up to a maximum of $150,000 for undergraduate and graduate degrees; $250,000 for MBA and law; and $180,000 or $350,000 for health care student loans, depending on the degree type

Must be a U.S. citizen or permanent resident enrolled at least half-time in a degree-granting program at an eligible institution. International students can apply with a cosigner who’s a U.S. citizen or permanent resident.

8.42% - 13.01%

$1,000 up to cost of attendance

Education Loan Finance (ELFI) is a division of Tennessee-based SouthEast Bank owned by Education Loan Finance, Inc., a non-profit whose mandate is to provide access to higher education. ELFI launched in 2015 and offers undergraduate, graduate, and parent private student loans as well as student loan refinancing.

ELFI student loans and refinance loans are available to residents in all U.S. states including Puerto Rico. Borrowers can benefit from no application, origination, or prepayment fees. ELFI also offers flexible repayment terms and competitive rates, however there’s no cosigner release option and the lender doesn’t offer any discounts.

5, 7, 10, or 15 years

$1,000 - Cost of attendance

A cosigner may not be taken off a loan, but the borrower can apply for a new loan without their cosigner.

All 50 states as well as Washington DC and Puerto Rico.

Fox Business does not make or arrange loans.

Frequently asked questions

Which state has the best 529 plan .

Your state’s 529 plan will generally be the best for you due to the tax breaks offered to resident taxpayers. That said, most states offer 529 plans, and you can use another state's plan if it's better for your savings needs, whether due to a higher maximum contribution limit or different investment options.

How many 529 plans can a child have?

A child can be the beneficiary of multiple 529 plans. The maximum balance of each account is limited, and the caps vary by state.

What happens to a 529 if my child doesn’t go to college?

Control of a 529 always remains with the original account owner. You may save the money for a future child of the original beneficiary, as there are no time limits on using these accounts.

“You can use it to pay for other permitted forms of post-secondary education for a child who doesn't want to pursue a traditional four-year degree, save it for a later date in the event they change their mind (as there are no time limits on the use of 529 plan accounts), or switch all or part of the account balance to an eligible family member.

You can also roll over up to $35,000 to a Roth IRA for the 529 plan beneficiary, save it for the child's future children's education, or use it for yourself (if you are a parent or other relative of the child.

 “It’s also possible to take a non-qualified withdrawal and pay only tax on the earnings and a possible 10% federal penalty, unless due to scholarship, military academy attendance, death, or disability,” says Roberts.

Methodology

We ranked 529 plans based on independent research by CNBC Select and Saving for College and selected the top results based on each of their methodologies; we selected “best for” categories supplemented by weighing each plan’s:

• Management fees
• Investment returns and performance
• Fund expenses
• State-based perks

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Jpmorgan chase names potential successors to ceo jamie dimon.

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JPMorgan Chase is preparing for the day when Jamie Dimon is no longer head of the banking behemoth.

The board of directors at JPMorgan Chase said a top priority for the bank is to “plan for an orderly CEO transition in the medium term,” according to its latest proxy statement which was released on Monday.

According to the bank, the board “is spending significant time on developing Operating Committee members who are well-known to shareholders as strong potential CEO candidates.”

The proxy statement makes mention of several potential successors to Dimon who were promoted to new positions.

Jennifer Piepszak and Troy Rohrbaugh were recently elevated to co-CEOs of JPMorgan’s commercial and investment banking division while Marianne Lake assumed the CEO role at consumer and community banking.

Mary Erdoes, CEO of asset and wealth management, and Daniel Pinto, president and chief operating officer, were also mentioned in the proxy statement.

The board said that “these senior management changes and new alignment will help the Firm better serve its clients as well as further develop the Firm’s most senior leaders.”

Pinto was singled out by the board as someone who “is immediately ready to fulfill the responsibilities” of the CEO “should the need arise in the near-term.”

JPMorgan, which is the nation’s largest lender when measured by assets under its management, has made no secret of its fondness for Pinto. At its “investor day” two years ago, the bank said Pinto was ready to step in for Dimon.

JPMorgan’s succession plans for the post-Dimon era have long been fodder for speculation on Wall Street, which in recent months has been rocked by high-profile leadership changes at Morgan Stanley and Lazard.

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James Gorman stepped down at the helm of Morgan Stanley after 14 years as head of the bank. He was replaced by reputed “party animal” and foul-mouthed executive Ted Pick.

Peter Orszag, former vice chairman of investment banking at the advisory firm Lazard, took over for CEO Ken Jacobs in this past fall.

Dimon, who has run JPMorgan Chase for more than 18 years, indicated last year that he plans to depart in three-and-a-half years.

He has so far refused to rule out a potential post-banking political career.

Bill Ackman, the billionaire hedge fund manager, last year endorsed a potential Dimon presidential candidacy.

When asked if he would ever consider entering politics, Dimon told Bloomberg News last year that “maybe one day I’ll serve my country in one capacity or another.”

The 68-year-old Dimon, who has a net worth estimated by Forbes at $2.2 billion, is credited with leading JPMorgan Chase out of the tumultuous 2008 financial crisis.

Last year, Dimon stepped in to help the ailing banking industry following the collapse of Silicon Valley Bank, Signature Bank of New York and First Republic.

JPMorgan acquired a majority of First Republic’s assets and assumed the deposits and other liabilities from the California-based lender.

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How Does Long COVID Affect Your Retirement Planning?

Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money .

Planning for retirement is at least partially about building a financial structure that will support you or your loved ones if something happens, including illness or disability.

And the potential for that “something” has risen in recent years: Almost 1 in 5 adults age 50 and over say they’ve had symptoms of long COVID, according to a 2023 survey from AARP. Common effects include fatigue, brain fog, difficulty breathing, anxiety, depression and gastrointestinal issues, and 39% have had symptoms for a year or more.

“So many people got infected with COVID, you have a much bigger number of people who are infected with a significant chronic disease,” says Carolyn McClanahan, a physician-turned-certified financial planner in Jacksonville, Florida.

At the heart of the matter, long COVID isn’t unique in the way it impacts your retirement strategy — but it does reinforce that a successful retirement plan must hold up to unexpected illness. Here are some tactics to make your plan more resilient.

Beef up your emergency fund

At any stage of life, it’s important to have cash on hand in case you need it. “Too many people sock money away in retirement plans where it can be harder to access if you have an issue,” McClanahan says.

Depending on your life circumstances, you may want to have as much as six to 12 months of savings set aside. Your savings can help you make ends meet if you get sick and can’t work, or if you’re waiting for disability benefits to kick in.

“Life happens, emergencies happen,” says Ashton Lawrence, a CFP in Greenville, South Carolina. Instead of having to tap a home equity line of credit or take on debt, he says, you’ll have this cash sitting on the sidelines for emergency situations.

Review your estate plan

A basic estate plan might include a will, advance directive and both medical and financial powers of attorney. This helps ensure that if you’re incapacitated or unable to speak for yourself, your health and your affairs will be handled the way you want them to be.

If you didn’t work with an estate planning attorney to create your plan, have one review your documents to make sure they were executed correctly. Requirements for powers of attorney vary from state to state, says Shari Fleming, an estate planning attorney in Owings Mills, Maryland.

Fleming also encourages her clients to write a letter of intent that puts their wishes down on paper, such as the goals behind their estate plan or how they’d like the end of their life to go. “It’s not a legal document, but it does fill in the blanks,” she says.

Buy great health insurance

Don’t skimp on health coverage — get the best plan you can afford. If you’re under 65 or still covered by an employer plan, make sure you have the money to cover the plan deductible if you need medical care. “If you have long COVID, you’re pretty much going to max out your deductible every year,” McClanahan says.

If you’re eligible for Medicare, McClanahan recommends Original Medicare with a Medigap policy for greatest flexibility. “With Medicare Advantage, you’re basically locked into your insurer’s network, and they’re the ones who get to ration your care,” she says. “If you have traditional Medicare, you don’t have that issue.”

Compare Medigap plans

Hit retirement savings goals early.

“I have clients that maybe aren’t as prepared for retirement as they need to be, and they tell me, ‘I know I’m going to have to work until I’m 67 or 70,'” says Liz Windisch, a CFP in Denver. “What if you get sick? What if your partner or parent or sibling gets sick and you have to care for them and can’t work full time?”

Windisch encourages her clients to get more aggressive with savings goals , and if they can’t save more, to get a roommate or a part-time job to make it happen. “I hope you can work until you’re 67 … but we need to plan as if you might not be able to do that,” she says.

Simplify your money life

Because there’s always the possibility of incapacity as you get older, streamlining your finances makes it easier if someone has to step in to manage things. Consolidate accounts, keep a list of usernames and passwords, and keep a folder with at least one statement from each bill that you pay.

Noah Damsky, a financial adviser in Los Angeles, has a client who was very independent before she started experiencing long COVID symptoms. Since then, her family has had to get more involved in her life. “We’ve got to make sure other family members are playing a more active role in some of the things they didn't [do] before, like making sure some bills get paid, doctors are seen, things like that,” Damsky says.

Check your life and disability coverage

If you have disability insurance through your employer, consider paying for higher coverage, if you can — employer plans for long-term disability usually replace just 60% of your income. Consider, also, a life insurance policy with a disability rider, which is generally less expensive than buying a disability policy independently.

Gregory Corneille, a CFP in Lawrenceville, Georgia, recommends life insurance with critical and chronic illness riders for people who have little or no disability coverage. Critical illness riders cover things like cancer, heart disease and lung disease. Though carriers may not have updated their coverage definitions to include long COVID specifically, long COVID causes some of the issues on the list, Corneille says.

You can also buy a life insurance policy with a long-term care rider, so you can use the death benefit to pay for long-term care costs like a nursing home or a home care worker.

“We’re going to find a lot of people that have a lot more health problems than they used to,” Windisch says. “COVID affects people in ways we haven't even realized yet.”

This article was written with the support of a journalism fellowship from the Gerontological Society of America, the Journalists Network on Generations and the Silver Century Foundation.

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Still deciding on the right carrier? Compare Medigap plans