In Mumbai, you can see a lot of business running. Maybe you are thinking how to earn profit like them? Maybe you want to start a business in Mumbai. But you have no idea about any business, right? That’s why I’m here for you, sharing a list of profitable business ideas in Mumbai.
Mumbai, the city of Dreams, does full justice to the way its name pronounces in its true literal sense. The city has something for everyone to offer on its platter. This article will give a glimpse of opportunities that the city withholds.
Here we are going to discuss about all the small investment business ideas for Mumbai that can yield high return. We will discuss how each of these business concepts are going to work. I will also explain on the tentative investment estimate and profit you can expect out of the business.
It will be thorough guide for you to start your life afresh in Mumbai.
25 Business ideas in Mumbai with low Investment
1. Web Designer
In the digital age, the role of Web designers has become invincible.
As more and more companies are making their place in the digital business environment, it’s a no brainer to say that one requires web designers to design, prepare content, and create impactful imaging for their business website.
How does the web designing business work? First of all, you need to understand the 8 different phases involved in the procedure and then start fulfilling them one by one –
- Communicate with the company for whom you are designing the website and get clear definition of the project. It’s about understanding the company goal, audience they target, their competition and profit they expect.
- Define the scope of project – Plan out the activities that will benefit and set timeline.
- Creation of the sitemaps and wireframes to define the structure of the website. Create a website blueprint like this.
- Creating the visual aspects of the design is the next phase. While you design, the aim should be to get all other platforms of the company synched together through a connection.
- The next phase is the development of the website by adding content, images, videos etc.
- Then it’s time to test the website with the audience internally available to get a feedback. If changes are needed, you need to get it done before launching.
- The most important phase is probably launching.
- Your designing work doesn’t get over with launching. One needs to indulge in website maintenance for constant updating.
The requirement to be a web designer involves being well versed with visual design, design software, HTML, CSS, etc.
This offers the best business opportunities in Mumbai given the film city in the vicinity that has a huge scope for web designers.
If you are keen on taking up web designing as your serious business, you can expect a turnover of about Rs. 25 to Rs. 40 lacs in one year. This is only true if the business is running in full strength.
2. Coaching Centre
Education is the key to success in life. Parents pay tremendous attention to the studies of their kids.
They put great faith in the education ways of coaching centers as additional academic support apart from school learning that gives sure shot good results in the performance of their child’s learning.
Also, the high-level education of colleges for non-collegiate and Schools of open learning has contributed towards its spurring growth making it the profitable small business with minimum capital investment and no risk.
How can you set up an ideal coaching center in Mumbai? Very simple. Just follow the below steps-
- Decide on the subject you are comfortable teaching.
- Choose a convenient location for the center.
- Arrange for resources like stationeries, projectors, AV-device, boards etc.
- Use online portals for education listing.
- Determine the suitable fees for tuition to be charged. It’s better to have a generous one initially.
- Hiring staff apart from teaching faculties.
- Provide quality study materials.
- Ensure the center has good infrastructure.
- You need some marketing to make people aware of your center.
If you are qualified enough and have a positive effect on a child’s education, you are likely to earn about Rs. 50,000 – Rs. 75,000 in a month’s time.
3. Used Car Buying & Selling Business
Middle-income earner forms that part of society that is neither rich nor poor. This is the class that aspires to rise up. This is the class that tries to catch hold of things that gives a status symbol to their existence and buying a car is one of them.
Buying and selling used cars to cater to this mammoth class of people is the best profitable business idea in Mumbai. The profit margin is high as it gets to charge commission in facilitating the transaction.
If you are into this business, you need to aware of the below points –
- Procure used cars from owners through auctions or classifieds.
- Determine a suitable selling price for the car through online analytical tools.
- Ensure the car is operational.
- Do some damage rectification before reselling the car.
- Drive the car once to ensure performance.
- Check on the paperwork thoroughly, especially the registration documents.
- Balance out the lowest and market price.
On average dealers for a used car can make about 10% – 15% profit from selling one car. Consider the 1st sell and repair value as your investment here.
4. Matrimony Consultancy
Matrimony consultancy engages in facilitating a sacrosanct institution of marriage between two compatible individuals.
You can set up a physical consultancy or start an online consultancy. For this, you are required to form good contacts and try to bring together the best match possible depending on the desirability of the individuals.
Match making is however likely to make relatively less profit of about Rs. 5000/- per month. The reason is the low conversion of matrimonial queries.
5. Spa and Salon
These are the bankable business idea for Mumbai. Much of the credit is given to the public figures of the entertainment industry that promotes and attracts traffic to Spas and salons by their dapper public appearances.
It works as a mobile advertisement for its business promotion. The profit margin remains higher in this business venture.
Generally, considering the treatments you give in a salon, you earn about 11% – 15% of profit in total. If you own a spa you easily earn up to Rs. 10,00,000/- profit in a year. But the initial investment is little high. You need spend on establishment, salon equipment, hire expert staff.
Below are few check-points for starting a salon and spa of your own-
- Identify your target clients and plan a salon layout accordingly
- Identify a location where a spa is likely to get more demand and set up an establishment.
- Hire experts in different fields to get the job done.
- Purchase quality equipment and beauty product. You need to ensure customer satisfaction. Bulk purchase of all item will help you strike a good deal.
- Prepare salon treatment price chart
- You need little promotion and marketing. Social media campaigns can help here
Your business will be set to go.
6. Used furniture
The arrival of newly styled furniture models results in the outdating of previous models. Modern class of people loves to have things that are new, stylish and upgraded.
This led to discarding off the old furniture which opens the buying opportunities for the less fortunate lot. To start this business in Mumbai, all you need is a physical space and good contacts.
By selling these used furniture, you can actually more profit than you can expect. If you have given the furniture a good make over and covered all dents, it can look as good as new. One can sell each piece almost at double the price they bought it for from.
The best place for you to buy them would be flea bottoms and auctions if you want to make huge profit.
7. Event management
The city of Mumbai houses a significant portion of the population that are high- income individuals and companies who don’t mind splurging out a bit on the celebration of birthdays, housewarming parties, weddings, corporate meetings, and events.
If you can provide effective management skills from the beginning till the end and can provide quality food based on your client’s preference then these business ideas mean business to you. It is all the more preferable business because of high-profit margins and flexible scope of scalability.
If you are wondering how to start with an event management company, below are few tips –
- Get the legal documentation like company registration, trade license, tax papers etc. done first.
- The next phase is about having the business road map, having a mission or goal, analysis of SWOT, budget planning and identification of the market competitors.
- Get a space for your office set up.
- Identify the business verticals of an event you can cater to.
- Get the requisite certificates to start your business.
- Hire professionals under each business verticals.
- Get into partnership or collaboration wherever possible.
- Once your business is ready to kick start, get into the marketing phase to get business.
Not really a difficult job to start with. You need to gain experience here. A highly experienced and certified event management company earns roughly about Rs. 25 – 30 lacs in a year.
8. Gadget repair shop
It is a recession-proof business. It has a big market everywhere. If you are in the possession of skills that can fix the problems of any gadget or mobile then this is the business for you.
Like any business, this will also require pre-planning of the business, understanding the market scenario, target clientele and determining the charges to apply on each category of repair. If you are not an expert in any field, then hiring a professional might also be a necessity.
The sole investment here is getting a space on rent to set up your shop. If you hire a professional that’s a salary to consider too. In case you don’t have repairing tools then invest for some and you are set to start your business.
With a repairing shop you can expect a monthly profit ranging between Rs. 7000 to Rs. 50000, depending on what spectrum you opened your shop. Your chances of making will depend on how many repair cases you get in a month. If you repair computers and laptops too the profit is better.
9. Recruitment firm
Mumbai houses many multinational companies and other business organizations that recruit employees in large numbers.
he shortlisting of an appropriate candidate is a cumbersome process, to perform this task company hires recruitment firms to get the right candidate for the vacancies offered. These offer small business ideas that can be started at low capital investment.
By low capital, I mean only invest on a small space for office and the staffs required for making all calls. Your investment can be something in the range of Rs. 5000 to Rs. 80000 in a month, depending on where your office is located in Mumbai and how many people work for you. Recruitment firms are likely to make earn 15% of the shortlisted employees’ salary in a year.
Just decide on the business niche where you wish to cater and start placing candidates. Nothing much to start with here.
10. Taxi Services
The success rate of starting a taxi service is highly optimized in Mumbai.
It is because unlike other cities, Mumbai city doesn’t face competition from the auto drivers in central Mumbai that makes it the best business in Mumbai. Also, hassle-free journeys and affordable prices make it popular.
Your sole investment here is procuring the car, a driver and getting the paper works done. Of course, you need yearly renewal of pollution and car maintenance. Roughly it’s an expense of Rs. 3 – 5 lacs in a year. But you can expect to earn profit of about Rs. 2.5 lacs per annum too.
There is hardly anyone in India who remains untouched by the mesmerizing feeling of this city of dreams.
People from all over India visit Mumbai with the desire to see their favorite celebrities, old drama theatres, Taj Hotel, marine drive, film city, etc.
You can offer guide services and other recreational activities to the tourists.
To start with a small travel company is likely to make a profit of about Rs. 10 lacs annually. Slowly as you start catering to international market, you can expect a profit as high as 1 crore in a year.
To start a travel business, you will require-
- Correct legal papers.
- An office space
- Skilled employees with destination knowledge.
- Local guides to show around places.
- Tie ups with hotels and transportation companies to avail the best deal
- If you want the business to hit altitude then arranges for certificates like IATA, TAAI etc.
12. Online trading
Online trading of goods and services has made the business much easier for business entrepreneurs and life much smoother for customers.
You can set an online store depending on the product which you are desirous to sell to a wider range of the population. Best quality product and timely delivery of services is the key, be it garment business or salon services, etc.
If you want profit in this business, you better keep in mind the below trading secrets-
- You need a constant plan for trading
- Technology use is mandate
- Protection of the capital in trading is utmost important
- Thorough market research
- Develop useful methods and products for trading
- Stop trading when you should
- Risk management
- Avoid loss as much as you can
If your trading perspectives are right, people even make millions out of this business.
13. Real estate consultant
The real estate consultant task is to suggest potential properties to buyers and sellers according to their specifications and facilitate those transactions and thereby earning commission the sale and purchase done through him.
In present times it is the best business because of the increasing demand for properties that are following an upward trend in Mumbai.
A consultant generally makes 4% of the property value each time sold. In Mumbai a mere 1BHK property will cost about 30lacs. So, you basically earn 1.2 lacs. The higher the property value the higher is your earning. Your sole investment here is an office space and having staffs to show around.
This is a business solely dependent on contacts. You need to have patience. The rapport you have with the builders and other property owners are going to get you more business opportunities.
14. Fitness Centre
There is mushrooming of fitness centers in every nook and corner of the city. The demand for it has increased due to the desire of keeping oneself in desirous physique and size among the young generation and for some because of their health concerns.
This business does require sound capital investment on machinery and physical space at first but once established it is going to give long term results.
To start a gym that has multifunction of fitness, you can expect an initial investment of about Rs. 30 lacs. Apart from that you have monthly recurring expenditure of about Rs. 30000. But if the business hits off, you will be making a profit of Rs. 10 lacs in a year paying off all your expenses.
Transform your passion for lens and picture into a successful career option. Social media is filled with dapper and stylish pictures of public influencers but did you ever give a thought about the person behind those pictures who makes the pictures the way it is.
Photography is a highly reputed and acknowledged business where the camera clicks shines more than the stars in the sky do.
Investment on a professional camera and photography set up is about 5- 10 lacs. But with each photography session you earn about anything between Rs. 10000 to Rs. 40000, depending in your clientele.
You need to market your skills a bit to start this profession. Try showcasing your profile in the online and social media markets.
Write your heart out based on your favorite topics and earn a handsome amount of money. Since Mumbai is famous for its mesmerizing and awestruck fashion sense and popular eatery spots.
These are the potential topics that will attract enormous eyeballs. These can be taken up as part-time small business ideas for students or voracious writers.
Depending on how much you influence people, you earn out of blogging. The highest paid bloggers earn about 1 lac in a month.
17. Grocery Delivery services
Do you own a grocery store? If yes, then be kind enough to do some value addition by offering delivery services to the customer’s doorsteps and hence increase your sales and earn extra money on it. These are the flourishing business Ideas that comprise of significant posh area.
Though profit is low here, but still you can earn about a though in a day from home delivery of groceries only if you have about 10 customers to cater to in a day.
There is no dearth of automobiles in a modern and urbanized city like Mumbai. Automobiles go through regular damages that necessitate the requirement for garage.
If you have practical knowledge then this is the best business for you to make a dignified living out of it.
If you own a space for garage, practically you have zero investment. If not, rent a space to lease out as a garage. You can expect a profit of around 50,000 to 2 lacs, depending on where your garage is located and who are your customers.
19. Book store
It is an evergreen business opportunity in Mumbai. Set up a book store near educational institutions to get huge student traffic.
Also, to widen your customer base, keep second handbooks so that it becomes viable for students to purchase books at low prices.
A fully running bookstore can make 30% profit out of the new books. If you are selling 2nd-hand books, then the profit margin is relatively low. You earn hefty only when you are selling the early editions of priceless books like autobiographies.
20. Dance academy
Another name of Mumbai is the entertainment industry, to which dance forms an essential and irreplaceable part.
The growing public platforms, in theatres, in films to showcase your talent while earning lakhs have spurred the demand for dance academies to learn different fortes and new dance styles to further pursue it as a profession.
To start a dance class, you need to first decide on the form of dance educations you are willing to impart. Are you going to teach it yourself or you will hire professionals? If you are doing it yourself, in which dance form are you certified?
From dance lessons, you can earn about Rs. 2000/- per session with one student. In a month if you are taking 10 students and giving 1 lesson every week, you earn about Rs.80,000/- a month.
21. Organic food Store
Presenting amazing business opportunities in Mumbai that has a sizeable chunk of posh localities that forms the global health consciousness group of people.
They are the potential customers for the purchase of organic fruits and vegetables who don’t bother to pay something extra to get their health, dietary needs and nutritional fulfilling requirements ensured.
How can you open an organic food shop? Here are few steps to follow –
- Identify a suitable location for your store
- Rent a shop space
- Get legal documentations right
- Decide on the organic food material you are willing to sell
- Fix a suitable price
- Open the store to public to start business.
Consumers of organic food are increasing in India by about 25- 30% every year. It truly is a profitable business giving you about 10% more profit-earning than any standard food store.
Increasing consumerism and disposal income have led to the huge frequent inflow of customers ascertaining its popularity in present times.
Also, the profit margin remains higher that makes it a more alluring business idea for Mumbai that house high income yielding customers.
Having a fully running successful restaurant means a profit of about Rs. 10,000/- per day for the owner.
23. Interior designer
In the urbanized city like Mumbai, there is a huge scope for interior designers.
If you have the knack of designs, space management skills, creative skills and up-to-date knowledge of current trends then you are definitely here to stay in the longer run.
The interior designer is the best business in Mumbai for which you are paid substantially.
On an average successful interior designer make about 4 -5 lacs a year to start with. The richer clientele you handle, the posher project you take, the higher will be your income. The best part here is that it doesn’t really require lot of investment. Only when you are ready to go out as a firm you invest on an office. Or else promote your work online.
24. Security agency
Be it school, offices, companies, restaurants, hospitals, apartments, etc, everyone demands a security guard to ensure the safety and security of all dwellers.
Also, the rising crime rate has made it necessary to keep the security guard, that’s where the security agency comes in to supply for the demand of guards.
Here you earn profit hourly basis, say about Rs. 100 -Rs. 300 an hour from each facility you cater to. Of course, the number of security person you employ in each facility will make a difference on your profit earning.
25. Paying Guest services
It is the best business with a significant population of aspiring students, actors, or other professions that flock into the Mumbai city either for work or study demands a place to live that’s how paying guest services become potential business opportunities.
To start up a PG system you first need to redecorate your accommodation facility with proper and basic furnishing. To attract more guests, you might consider re-painting your house. How big are your rooms? How many people can you accommodate smoothly in one apartment?
Approximately, you can earn about Rs. 25,000 – Rs. 50,000 per month from one apartment. The location of the apartment will surely make a difference.
Mumbai will provide you with more business opportunities. The above are just the starters. Look out for profitable options that don’t call for too much investment and set on a new journey.
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