The limitations of entrepreneurship in the era of cut-throat competition are many, but financial burdens are no more an obstacle. The emergence of technology and changing market trends have helped to start small investment businesses with low costs. Be it private limited company registration or LLP registration, there is a variety of low-cost new business ideas to explore with an investment of less than 1 lakh in 2024.
New Business Ideas under 1 Lakh in 2024
Launching a profitable enterprise need not require massive capital today. India’s changing consumer preferences coupled with technological progress now permits commercial pursuits with modest initial investments. Here are five such opportunities for business under 1 lakh in 2024.
1. Handmade Candles
The candle-making business is one of the best options for manufacturing business under 1 lakh and demands minimum financial commitment for working. By allocating between Rs. 20,000-30,000 to set up manufacturing, enthusiastic entrepreneurs can create and retail handmade candles from their homes. Candles experience marketability owing to their extensive utilisation in religious ceremonies, aromatic therapy, mood lighting, and decor. Personalised shapes, sizes, colours, and scents can boost product uniqueness and customer appeal for such type of business registration.
2. Pickles
India’s affection for achaars sustains favourable prospects for aspiring pickle lovers. An approximated capital infusion of Rs. 20,000-25,000 is more than enough to obtain necessary apparatus and ingredients to kickstart production. Beyond household consumption, there are also quick-service restaurants, clubs, and bars driving bulk-order potential. Maintaining quality benchmarks and signature flavours constitute differentiation strategies in such business registration.
3. Incense Sticks
Rising exports and spiritual adherence keep agarbatti business registrations and sales rising, inviting competition from emerging manufacturers. Investing around Rs. 50,000 in procuring powder-binding equipment sets entrepreneurs on the road to tapping this demand by making incense sticks with custom aromas. Positioning products as natural and non-toxic can fetch premium realisations.
4. Buttons and Lace Accessories
Giving apparel and soft furnishings their aesthetic appeal are buttons, bows, borders, trims, and lace. An outlay of Rs. 25,000-50,000 on sourcing machinery and materials empowers entrepreneurs to fashion and supply such embellishments to garment fabricators and vending outlets. Keeping trends updated also ensures sustained sale.
5. Ice Cream Cones
As frozen desserts show their popularity in India, the complementary market for wafer cones indicates profitable prospects. Deploying Rs. 1-1.5 lakh permits compact manufacturing operations. Tactical tie-ups with ice cream brands, coupled with visibility across many avenues and retail points, can drive volume sales. Introducing innovative flavours, shapes, and packaging further enables market differentiation and is one of the best business ideas.
6. Handmade Chocolates
As Indian palates develop an appreciation for confectionery, specialty chocolate makers can whet their appetite for growth. An estimated Rs 40,000-50,000 appropriately deployed into procuring ingredients and basic equipment enables the homemade production of artisanal chocolates. Catering to gift-giving occasions, weddings, festivals, and impulse consumption through innovation in flavours, shapes, packaging, and pricing tactics promises rewarded efforts.
7. Noodles
From instant to gourmet varieties, noodles are the convenience food in Indian homes and eateries. With approximately Rs 40,000-1.5 lakhs channelled into buying machinery, entrepreneurs can start with a manufacturing business under 1 lakh with noodles on a small scale to serve localised demand. Understanding regional taste preferences and health-conscious trends can attract market share.
8. Disposable Crockery
India’s ban on single-use plastics is helping consumer adoption of eco-friendly disposable plates and cups, constructed from areca leaves, bagasse, paper etc. An investment of around Rs 50,000 enables manufacturing to cater to fast-growing requirements from events, railway services, takeaways, and other institutional clients through competitive pricing and credible quality.
9. Jute Bags
Jute’s organic and biodegradable fabric properties position it advantageously to service India’s contemporary needs for eco-conscious shopping and storage alternatives. Giving Rs 50,000-1 lakh into machinery and labour can help the entrepreneurs into crafting custom jute bags for businesses seeking promotions through giveaways.
10. Organic Personal Care
Surging awareness about chemical additives has precipitated demand for organic skincare formulated from botanical ingredients. An operating capital of Rs 1.5-2 lakhs facilitates the production and marketing of handmade organic soaps and cosmetics, targeted at urban customers prioritising natural wellness and sustainability.
11. Coconut Hair Oil
Rising cognisance of adverse chemical reactions has sparked demand for natural hair care formulations like coconut oil. An investment of about Rs 1 lakh in ingredients, packaging, storage and processing equipment empowers startups to manufacture quality cold-pressed or fermented coconut hair oil at competitive rates. Targeting beauty retailers, spas and online platforms can quickly garner sales.
12. Smartphone Screen Guards
As cell phones become known, protective accessories like tempered glass guards experience surging adoption. Investing between Rs 75,000-1.5 lakhs on inventory, machine tools and business registration stimulates entrepreneurs to deliver made-to-order screen protectors profitably to local mobile vendors and consumers. Custom sizing, next-day delivery and installing services should boost customer experiences in these profitable business ideas.
13. Event Management Services
India’s rising wedding and entertainment industries necessitate budget event coordinators for venue decor, catering, entertainment and hospitality management. By dedicating Rs 50,000-1 lakh upfront into digital promotion and vendor empanelment, solo entrepreneurs can start by specialising in specific offerings like budget wedding planning.
14. Home Tutoring
Quality supplementary education is sought by parents despite financial constraints. Expertise in academic topics or extracurriculars like music, sports etc. permits entrepreneurs to offer home tutoring services at modest rates. Planning curriculum, acquiring teaching aids and customer acquisition through digital and community outreach involves roughly Rs 30,000-50,000 initially.
15. Home Bakery
Launching cooking operations from home to supply customised baked goods like artisanal bread, desserts and snacks to residential colonies and offices is growing popular. Investing approximately Rs 75,000 on ingredients and baking equipment sets entrepreneurs up to deliver tasty, affordable and personalised orders. Digital platforms can also be used to get visibility for such business registration.
Final Thoughts
Finally, therefore, starting a small investment business under 1 lakh can be quite an achievable task as long as right idea and execution is there for proper business registration. The low-pricing innovative ideas provide an equally attractive opportunity for upcoming entrepreneurs to come in the market and apart from sharing thoughts, the forum also help in letting others know about challenges that they may face while starting up with their company registration process.
Through targeting unexplored markets, ascertaining the demands of consumers and making use of the assets of creativity and innovation, entrepreneurs looking for an efficient company registration process may create resilient and profitable businesses even with minimal initial resources.
FAQs
Which is the best business in 1 lakh?
Business Under 1 Lakh in 2024 are:
- Mobile Food Business
- Laundry and Washing Services
- Newspaper & Magazine Distribution
- Food Catering
- Tiffin Services
What business to start in India in 2024?
Successful small business ideas in India consist of food delivery services, mobile app development, e-commerce platforms, digital advertising organisations, physical fitness & health facilities, tutoring and education services and inexhaustible energy ventures.
How To Make 1 Lakh Per Month Online?
Ways to make one lakh every month in India include freelancing, online marketing, social media management, online tutoring, trading in the stock market and other things.
What industry is expanding fastest in India?
Fastest Growing Sector In India are:
- EV which stands for Electric Vehicles
- Healthcare And Insurance
- Sustainable Energy
- Information Technology, etc.
