A slew of business opportunities has surfaced in the market that aspiring entrepreneurs are swiftly grasping.
The entrepreneurial niche is rapidly changing. Owing to the crisis, many traditional businesses have become outdated, in turn, giving rise to tech-enabled businesses. A slew of business opportunities has surfaced in the market that aspiring entrepreneurs are swiftly grasping.
If you are innovative and seek creative business ideas, then here is a list of creative business ideas that you can start instantly.
Several people migrate from villages to cities every year in a bid to realize their dreams. They leave their villages and move to metropolitan cities either for higher education or a job. While doing so, they invariably look for homemade food.
If you have good culinary skills and prepare delicious homemade food, then use this skill. Offer homemade food to people at a reasonable cost.
According to KPMG's report, the Indian Food and Beverage (F&B) services industry is one of the most vibrant industries to witness rapid and unprecedented growth over the past year. The industry significantly contributes to the nation’s economy and has been the frontrunner in terms of attracting investments.
The Indian handicraft business is quite prominent not only in the country but in other foreign countries also. Besides attracting foreign clients, you can sell handicraft items on the internet. For that, you would have to create an online site. It is a labor-intensive business; you can easily ascertain the workforce in cities and villages.
According to Statista, India exported handicrafts worth over INR 128 billion in the fiscal year 2019. This was an increase compared to the previous year where it stood at approximately INR 118 billion. This indicated a growth of over nine percent.
Event Planning Business
Despite the ongoing pandemic, normalcy is returning to the Indian market. Parties, weddings, and other commemorations have resumed, in turn, raising the demand for event planners anew. Event planning primarily helps to manage all things in one place and within the decided budget. Through this business, you can show your creativity, increase aesthetic aspects, and meanwhile, earn a hefty income.
According to Statista, the revenue of the organized events industry was estimated to be more than INR 100 billion in the financial year 2021, up from around INR 66.1 billion in the financial year 2018.
Besides initiating an event planning business, if you can purchase one then here are some event planning businesses.
Nurturing flowers and intermixing them with one another, in turn, giving rise to a new breed. Such activities are done by florists mainly or people interested in gardening and other allied activities. If you fall into the latter category then it is the time to buy a florist business.
Like other businesses, florist businesses would be impacted by the pandemic. Rather than starting your own business, it is better to purchase an existing one.
According to Business Wire, the Indian floriculture market was worth INR 130 Billion in 2017. The market is further projected to reach INR 394 Billion by 2023, at a CAGR of 20 percent during 2018-2023.
Waffle and Coffee Cafe
In recent times, western deserts such as waffles have become popular amongst millennials. Coffee houses often offer waffles, cupcakes, and muffins along with beverages. This has become a novel trend amid the cafe's offerings. However, everything abruptly ceased when the pandemic struck the market.
Now, it is an apt time to purchase Waffles and Coffee Cafe. You can transit strategies of the cafe to get accustomed to the new normal.
According to TechSci Research report, the coffee shops or cafés market in India is projected to grow at a CAGR of over 11 percent during 2016-2021, on account of the growing coffee culture among the young population, increasing urbanization, rising disposable income levels, and changing eating and drinking preferences of consumers. Changing work patterns of business executives is also driving demand for such coffee shops or cafés, as these outlets offer services such as free Wi-Fi, entertainment zones, etc.
These are some creative business ideas that you can follow. If you know any other creative business ideas, then share it with us in the comment section below.