Tag: most profitable business in india

How To Start Amazon FBA Business in 2023? | Fulfilment By Amazon
With a market cap of over $1 trillion, Amazon ranks first among the leading large-cap e-commerce companies worldwide. It has over 2.45 billion monthly visits to its app and website combined. It dominates the US e-commerce, i.e. 49.1% of the market. In the US, customers buy roughly 7,400 products per minute from Amazon sellers. It is the largest e-commerce company in India as well, which is one of the world’s fastest-growing economies with over 1.4 billion people. Data shows over 620 million of them use the internet, and 74% of those users shop online. India has a $70 billion market segment, and Amazon is playing a big part in it.

Between 2020 and 2022, the fulfilled-by-Amazon (FBA) model caught on, with 68% of merchants relying on Amazon’s logistics to fulfil their orders. Amazon has over 200 million paid Prime members globally and hundreds of millions worldwide active customer accounts. You can scale up your business globally on this platform. This is the best platform for customer acquisition. With FBA (Fulfillment by Amazon), sellers send their products to Amazon’s fulfilment centres, and Amazon picks, packs, ships, and provides customer service for those products.

In other words, you must provide your products and Amazon does the heavy lifting for you against some fees. (know that Amazon FBA is not a free service, you have to pay for it. So it is safe to say that a little investment will be required on your part). There are many ways through which you can provide your products to Amazon:
1. Private label
2. Retail arbitrage
3. Wholesale FBA
We will talk about them later in this article!

Select The Product To Sell
Source The Product From Manufacturer
Finalize The Product via Alternatives
Send The Product To Amazon
Provide Better Service Than The Competitors
Break-down of Procedures – A Beginner’s Guide
Is Amazon FBA profitable in 2023?

How To Start Amazon FBA Business

Over the years, Amazon FBA has attracted many people to its model. This way the competitors kept pouring in and competition kept levelling up each day. So it is the right time to ask questions like how to start an Amazon FBA business in 2023 to stay there for longer and to be able to call it a consistent source of income. The following is the know-how of this very question:

Select The Product To Sell

It is the most important step. You should pay due care in choosing the product that is going to give you returns. It is quite obvious that if there are too many people selling the same product, the profit share of each individual becomes negligible. So you need to select the product which has a decent demand and less supply.

Websites like JungleScout help you know which product can give you maximum returns. It gives you an idea (an estimate) about the current product status in terms of demand, supply, and competition based on prior data. If you don’t want to spend your money then you can use Amazon’s Best Seller rankings (BSR) tab but you have to do your bit to make the calculated guess when you’re selecting the product.
- Know your niche: Before selecting a product you should have an idea in which niche you want your product to fall so that it covers long-term gains and not only short-term profits.
- Selecting correct BSR: After selecting your niche, you should select a particular BSR range according to the product selected. Please note the product doesn’t necessarily have to be from the top 3 of BSR. It just has to be sellable which means a product with comparatively less competition and high demand.
Finding BSR Rank for a Product on Amazon
- Narrowing down the product: You can then narrow it down from a list of products to the product that meets the basic criteria.
Source The Product From Manufacturer

After deciding what your product will be, you need to source the product from the manufacturer. This is not an easy process because you have to make sure the product you’re sourcing is of decent quality and reasonable price to match your cost estimates. Consider yourself a customer here and then start negotiating the price with the supplier if you do not feel that the supplier’s quoted price suits you.

Things to note:
- You should ask for sample products first to keep from losses.
- Try to take everything on paper so that you have an edge if you feel the supplier has compromised with the product (in case you are sourcing the product from different countries or from a place where you cannot be physically present).
Finalize The Product via Alternatives

Do you remember I talked about providing the final product to amazon via three alternatives? We will now see what those alternatives mean:

The private label: It is somewhat like collaboration. You are sourcing products from a particular brand and adding your label to it (on its packaging/product itself). And then you’re selling it under your brand. It requires your investment and is comparatively a sustainable source of business. You essentially create your listing on Amazon including pictures of the product, the title of the product etc.

Retail arbitrage: It is buying stuff at cheaper rates from thrift stores or retail stores and then comparing the cost and profit margin of the product via amazon itself. For the same, you have to provide amazon specified barcodes on the product before sending it to Amazon. However, it is not a sustainable business model as there is no guarantee that you will find the products regularly to make the sale on Amazon.

Dropshipping: It is a business model for people who do not have a product or money with themselves. All you do is act as a mediator between supplier and buyer by listing the supplier’s product on your account. After receiving the order (from the customer) at your listed price, you place the order with the actual supplier and ship it directly to the customer. This way dropshipping help you save yourself with a decent profit margin.

Wholesale FBA: It is primarily sourcing the product from a wholesaler, listing it on amazon and selling it. Wholesale FBA is like day-to-day retail shops that we come across in our cities, the point of distinction is here we are doing it online.

Send The Product To Amazon

After deciding your way of sourcing the product and doing the needful you are now ready to send it to the Amazon warehouse and get on with the sales part. You can choose any mode of transportation according to your feasibility and time preferences.

Provide Better Service Than The Competitors

The real competition: In a sentence, this is the point of competition. Many sellers are selling the same product as you. What you do to stand out of the crowd so your traffic turns into sales is the most crucial part of this entire process. The question of starting Amazon FBA today arises from the many sellers that are now there on this platform. You have to know this is not a get-rich-quick recipe. It is just another business model. The only difference is Amazon is doing the heavy lifting for you. So you need to truly start by taking this as a business entity. You have to do all the work that a businessperson is supposed to do, including branding, advertising and marketing.

Ads can do their bit but to be the best in your niche you have to provide the best service possible by including things like
- Actively solving customer’s grievances
- Reading consumers’ reviews to get their experiences with the product
- Always aiming for improving the services
- Asking for genuine customer reviews
- Going for influencer marketing to attract traffic
- Initially providing good discount offers
Of course, after a point of time, Amazon will promote your products on your behalf but for that, you have to be able to come into the eyes of amazon. After all, it is a search engine doing things with algorithms!

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Break-down of Procedures – A Beginner’s Guide

Sell worldwide with Amazon

Step 1. Visit Amazon’s official website
Step2. Click on Sell
Step3. Create an account
Step4. List your product
Step5. Ship your product to Amazon
Step6. Grow your business

❖ Create an amazon seller’s account: To sell on amazon, go to the seller on the Amazon section and create your seller central account. Link your Bank Account and provide your identity, business/company details, and other information.

Amazon Seller Account | Sign in

❖ List your products: There are two ways through which you can list your products on Amazon which depend on the product you’re selling.
- Selling the already available product on Amazon: In this case, you need not list your product as such. All you need to do is select and list the product along with the number of units you want to sell.
- Selling under your brand: When you want to be a unique seller on Amazon with your brand you will be required to list your product which mainly includes the title of the product, size of the product, its images, description of the product etc.
❖ Selecting the way of fulfilment: Here you have an option as to how you want to deliver the order. You have three options: FBA, Easy ship, and self-ship. Here we will see FBA. In this case, Amazon will take your products and store them. After receiving the order it will pack and deliver it to your customers.

Some important things to note:
- Pay due care when you pack your products, you don’t want to mess up when labelling the product with barcodes.
- Paste the barcodes with sticking sheets instead of using cello tapes. If lost, they will be treated as unfulfilled orders in Amazon’s fulfilment centres (FC) under which you will be at a loss.
- Carefully schedule the pick up for shipping the products to FC. Pay good care while filling in the product’s details including the number of units and its dimensions.
You can also use the option of easy shipping. The only difference is here you have to store the products and Amazon will deliver the products to the customers.

Amazon Fulfilment Centre

❖ Shipping the order to AFC: Now you’re ready to ship your products to AFC. You can use Amazon transportation service (ATS), third-party service, or courier service, or you can go yourself (in case your products are small and do not require a transportation service).
- If ATS is available in your area, you can go for this. For this, you can simply schedule the time in your seller’s account.
- Amazon also provides third-party services which you can avail of from your account to send your products.
- If you find your courier service better, you can go for this option too.
Please note that if you’re using any service except ATS you will be required to make a carrier appointment request via the carrier appointment request portal.

❖ Expand your reach/Wait for sales: After sending your inventory to FC, your big task is done. Now you have to wait for customers to place orders. During this time, you can focus on marketing your product off-amazon. You can expand your reach by telling the uniqueness of your product through influencer marketing, Youtube marketing, digital marketing etc.

Is Amazon FBA profitable in 2023?

Benefits of Amazon FBA

In 2022, three-quarters of sellers are in profit. The competition is indeed really high and it is increasing every day. But we have to consider the fact that FBA is a business model. And every business takes a certain period to be termed as ‘stable’. So the risk factor lives irrespective of FBA. FBA is comparatively easier as you can choose from many business models within FBA and with less investment.

For FBA sellers, amazon provides a prime badge which is an assurance of fast delivery, and good customer experience. This option is only for FBA sellers which again gives your product a better chance to get a buy box.

Of course, there will be times when amazon will frustrate you with its algorithms even when you have done all the bits-and-bats of gaining the buy box from buyers. Nonetheless, there is no denying that FBA has changed the game for many when people have been consistent in their work. And it can do the same for you too!

FAQs

What is Fulfillment by Amazon (FBA)?

Fulfilment by Amazon, (FBA) is a service offered by Amazon. Through FBA you store your products in Amazon’s warehouse, and Amazon packs and delivers the orders to customers.

Is Amazon FBA available in India?

Yes. Amazon has more than 60 fulfilment centres in 15 states.

Is Amazon FBA profitable in 2023?

Amazon’s FBA business is quite profitable if done with consistent efforts.

How much does FBA cost?

The FBA cost depends upon the below factors:
- Category of the product
- Product Price
- Size and weight of the order
December 13, 2022
Most Profitable Leather Business Ideas
The leather industry occupies a place of notability in the economy of most countries. The demand for the leather goods industry has grown with customer demands for new designs and creative fashionable leather products. Due to the huge potential for employment, growth, and exports, the demand for the leather business is growing rapidly. According to IBEF, The Indian leather industry accounts for around 12.93 % of the world’s leather production. The leather industry is spread across different segments namely tanning and finishing, footwear and footwear components, leather garments, leather goods including harness, etc. Leather business ideas can be developed as a profitable venture on a small and medium scale basis as well.

Facts about the Leather Industry in India
Strengths of Indian leather Sector
Most Profitable Leather Business Ideas
Conclusion
FAQs

Profitable leather business with low investment

Facts about the Leather Industry in India

According to the Department for Promotion of Industry and Internal Trade (DPIIT), India’s leather industry has attracted $ 215.21 million in foreign direct investment equity inflows from April 2000 to March 2021.

If the question on your mind is, “Is the leather business profitable?”, here are some facts about the industry to help you decide:
- Footwear export accounts for a 45.82% share. India has produced 1.8 billion units and is expected to produce 3 billion units by 2024.
- India’s total leather export stood at US$ 5.07 billion in 2019-20. From April 2019 to March 2020.
- The tanning industry accounts for an annual production of about 3 billion sq. ft.
- India is the second-largest exporter of leather garments, third-largest exporter of Saddlery & Harness in the world and 4^th largest exporter of Leather Goods in the world.
The global leather goods market size has reached USD 407.92 billion in 2021. Total leather and leather products exported from India stood at US$ 5.07 billion in 2019-20. India shares 9% of the world’s footwear production. India is the second-largest footwear producer after China. India is also the second-largest consumer of footwear after China. This article will help you in finding out the most trending leather business opportunities.

Share of Leather Products (2020-21)

Strengths of Indian leather Sector
- Own raw material source – About 3 billion sq ft of leather produced annually
- Some varieties of goat/calf/sheep skins command premium position
- Strong and eco-sustainable tanning base
- Modernized manufacturing units
- Trained / skilled manpower at competitive wage levels
- World-class institutional support for Design & Product Development, HRD and R & D.
- Presence of support industries like leather chemicals and finishing auxiliaries
- Presence in major markets – Long Europe experience
- Strategic location in the Asian landmass
Most Profitable Leather Business Ideas

Leather Watch Band Making

The leather watchband is considered especially as a B2B product. It takes around 45-60 mins to complete each strap depending on the level of expertise and comfort of working with leather. If you care for your leather strap watch carefully, it is likely to last longer and maintain its value.

The main things you will need to start making leather watch bands are :
- Leather
- Cutting mat
- Cutting tool
- Cutting edge
- Leather punch
- Needle
- Suitable thread
- Watch hardware (buckle and spring bars)
Leather Garment Making

Fashion consumers are becoming more conscious of the environment. Consumers are rapidly aligning towards new designs and innovative leather offerings to ensure they are in sync with challenging fashion trends. Leather manufactures are trying to produce more sustainable products by prohibiting harmful dyes and chemicals.

They prefer the following facilities before starting a leather garment:
- Eco-friendly material
- Conservative use of resources
- Reduced emission pollutants
- Greater social commitment
- Fair treatment of employees
Leather Bag Making

The leatherback making business can be started with little capital and from home. Once the bag has been completed it is given a coat of mustard seed oil, which helps nourish the leather, helps waterproof it, and further deepens the rich tan color. You can come up with a variety of designs that you can get into manufacturing or retailing.

Basic leatherworking tools and materials are as follows:
- Some 2mm veg-tan leather
- Swivel knife
- Stamp tools
- Quality 2mm lacing
- Linen
- Lacing needles
- Leather dyes
- Hardware(rivets, buckles, keepers, and a closure)
- Contact adhesive
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Leather Shoe Making

Ladies footwear is an essential item in women’s apparel. The variety includes slippers, sandals, sports shoes, high-heels, etc. You can start a ladies’ footwear manufacturing business from home. By finished leather as raw material, any individual can initiate this business on small scale basis.

The first thing you need to start this process is a shoe last. The leather shoe making business is involved in several activities. It is very much important to have adequate knowledge about the process and the current market trend. Today shoe factories handle the various stages of production.

The steps which are involved in shoemaking are below:
- Designing
- Shoe lasts
- Stamping
- Sewing
- Assembling
- Shoe room
Leather Crafts Item Making

India is famous for its leather products and the most profitable leather crafts are manufactured in West Bengal. These products are generally decorated with traditional designs and patterns. The modern-day leather craft in India has become a big industry. Items like shoes, jackets, lampshades, pouches, bags, belts, wallets, stuffed toys, book covers with decoration, ladies’ accessories, hair accessories, wall hanging, clutch or purse, pet collars, key chains, etc. made from leather are exported from India in large quantity. Different regions in India are famous for their unique style and pattern of leather products.

Leather Furniture Making

Leather furniture at a retail store may be out of your price range. With little hard work, you could have custom leather furniture in your home for a fraction of the cost. There are two options for your leather furniture from scratch and reupholstering your existing furniture. Two major segments include this industry. One is the sofa and other furniture or home décor items for domestic purposes. Another is seat or seat covers in the automobile industry. This is an excellent leather business opportunity!

Leather Promotional Product Making

Promotional products are branded with a specific logo that serves the purposes of marketing campaigns. These products are customized for the company especially and have their logo on them. Day by day marketing strategies are improved, the use of promotional products is a new thing now that is expanding rapidly. Some products which are significantly popular in the promotional gift are laptop sleeves, keychains, keyrings, leather portfolios, leather bags, leather briefcases, leather sunglasses cases, leather wallets, leather purses, etc.

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Leather Jewelry Making

Leather is always a stylish choice for designs in jewellery. Jewellery making is another business idea. As leather is already a very pretty popular material in itself and it also makes some awesome jewellery items. Leather jewellery items such as necklaces, bracelets, bangles, earrings, friendship bands, wrapping bracelets, and bangles, etc.

Leather Safety-Shoe Making

Leather is certainly the most important material involved in the production process of safety footwear. Safety shoes are shoes that are made for the safety of the individual that works in extreme conditions.

Types of leather in safety footwear:
- Full-grain leather – It is part of the most outer layer of the skin, the most elastic and breathable of all.
- Printed leather – It is the middle layer of the skin. It’s very sturdy but less breathable.
- Nubuck leather – It is the most outer layer of the skin, slightly brushed and with moderate resistance to scratches and hits.
- Suede leather – It is part of the middle layer of the skin. It has the best durability and the least water resistance.
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Leather Winterwear

Leather winter wear is the biggest industry. People using leather as jackets is very popular. Various winter wear options are famous in the leather business industry such as jackets, coats, leather high boots, leather pants, etc. Leather gloves have also done significant progress as a business plan. Leather gloves are famous among both men and women and come in different shapes and sizes. There are various types of gloves such as biker gloves for gripping, winter gloves, open finger gloves, closed finger gloves.

Conclusion

The Government of India had identified the Leather Sector as a Focus Sector under the ‘Make in India’ program. The Government is implementing Various Special Focus on Initiatives under the Foreign Trade Policy for the growth of the leather sector. With the past industry performance, the industry’s inherent strengths of skilled manpower, innovative technology, increasing industries, the Indian leather industry increases its production. And if you start this leather business you will get more profit also in the upcoming days the growth in the leather industry will be very much.

We hope this article helped you to get ideas on how to start a leather business in India! Remember, there are several leather-based small scale industries out there too!

Also read: List of Government Schemes To Support Startups

FAQs

What are the most profitable leather business ideas?

Some of the Most Profitable Leather Business Ideas are:
- Leather Footwear Manufacturing
- Leather Bag Making
- Leather Furniture Making
- Leather Crafts Item Making
- Leather Watch Band Making
- Leather Garment Making
- Leather Gloves & Mittens Making
- Leather Export Business
Is leather a good business?

Leather is a durable product and looks stylish. This makes leather business capable of remaining functional and upmarket for many years.

What are the top leather manufacturing companies in India?

Some of the Top Leather Manufacturing Companies in India are:
- Farida Group
- Lakhani Armaan Group
- Liberty Shoes Ltd.
- Metro Brands Ltd.
- Mirza International Ltd. ( Red Tape)
- Relaxo Footwears Ltd.
October 25, 2021
8 Best Business Ideas To Make Money in 2021
Who doesn’t want to be their own boss? Who doesn’t want that extra bit of income coming in? More and more people are looking to start their own business and break free of their traditional 9-5 jobs. Finding the best business ideas to make money and eventually becoming self-employed results in greater pay and more benefits regardless of how rewarding your full-time job may be. It is only possible if you have planned a low-cost business idea with high profit along with the perfect strategy to follow.

Running your own business means that you have more freedom. So it’s easy to see why so many people are looking to build their own business empire with small business ideas from home. Although starting your own top money-making business from scratch isn’t easy, as it needs good strategic planning and more importantly the idea must have a scope in future. To help you find answers to these questions, here are some of the best business ideas to start in 2021.

Plant based Food
Personal Training
Graphic Designing
Destination Wedding Planner
Hairdressing/Makeup Artist
Open A Coworking Space
Bicycle Rental Business
Ecommerce & Dropshipping
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Plant Based Food

Plant-based or plant-forward eating patterns focus on foods primarily from plants. which includes not only fruits and vegetables, but nuts, seeds, oils, whole grains, and beans. The world is going crazy for everything plant-based this is in the top 10 most successful businesses to start. Though this trend is not new, it is gaining popularity rapidly. It is also the best business ideas that make money as in the last few years, you might have noticed more and more plant-based eateries and options on supermarket shelves.

Many people tend to buy this to follow their fitness regime. So, why not take full advantage of the trend? The plant-based market is in high demand all over the world making it is one of the best business ideas for future. This can also be among the best business ideas at home as you can start your own coffee truck with plant milk alternatives to your own eatery that serves plant-based treats and pastries from the comfort of your home. Do plenty of research on the trend and you might just come across an area that hasn’t been fully explored yet.

Another best business idea is creating a vegan supermarket or making meat-free alternatives to traditional foods could make you a successful entrepreneur. This does require a fair amount of investment to start. Alternatively, for a lower budget, you can simply start a blog or Youtube channel to share plant-based or vegan alternatives to popular recipes. Besides it being among the unique business ideas you might get surprised by the number of views you garner from it.

Personal Training

They say that personal training is a saturated market, and while that might be true, that doesn’t mean you can’t turn your passion for fitness into a lucrative business. Getting into the fitness industry can be profitable as it is among the best business ideas to start in 2021. There are plenty of training providers who can help you get your personal training qualifications, but you can always go a step further and become a professional in different areas other than the gym.

You could focus on pre/postnatal women’s exercise, Pilates and yoga or even take on GP referrals. It has become one of the top money-making businesses because of the recent pandemic, people are reluctant to go to gyms as well so you can personally visit the individuals for 1-to-1 workouts or yoga sessions or simply conduct a class online via zoom or so. These are among the best business ideas, but our success depends on how much effort you put into building your brand. This is one of the incredible business ideas to make money in 2021.

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Graphic Designing

Graphic designing is one of the best business ideas for future as it is currently a budding trend and not a physically taxing job. The foundations of graphic design can be learned on your own easily. One can also take up a professional course; offline or online via Coursera or skillshare. Moreover, a formal background in graphic design can help you become a freelancer and is among the best business ideas from home. What’s more – tools like Adobe Illustrator, Stencil and Visme are easily accessible with a small subscription fee.

Graphic designing is the best creative small business ideas as you can use tools and create unique art and even earn a side income. It is among the top money-making businesses as you can design images like motivational quotes that can be printed onto posters or you can tie up with a local startup or photographer helping them design images for their products. This is one of the best business ideas in India as there has been an increase in demand for them.

Creative Business Ideas

Destination Wedding Planner

One of the best business ideas to start for 2021 in India that is not affected by seasons is wedding planning. Lately, the trend for a destination wedding has soared in India and is among the top money-making businesses. By starting a destination wedding planning company, one can take the stress out of wedding planning for couples and you might get to travel to exciting places around the globe. By learning some tactics and event management skills, one can make a good wedding planner. However, this does require quite a hefty investment to start off with and this is why it is among the hot new business ideas 2020.

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Hairdressing/Makeup Artist

Another very creative business idea to make money in 2021 is being a hairdresser or makeup artist. Everyone will have at least a few occasions in their life where they’ll need their makeup and hair done professionally, which is why Hairdressing or makeup artist is currently among the best business ideas to start in 2021. This is among the few creative small business ideas that require plenty of qualifications, classes and tutorials to invest in – many led by industry professionals.

This unique business idea 2020 does require you to pay for an expensive chair at a salon; become a bridal makeup specialist for example and you can bring your makeup expertise to your clients. It is also one of the best business ideas for making money as you can also choose to showcase your talents on the internet or even review make-up for a living.

You’ll get sent PR packages so you won’t need to spend a dime after reaching a certain audience quota which shows that this is a low-cost business ideas with high profit. This is also a very skill-based business idea but if you’re talented with all things hair and makeup then why not make a business out of it?

Open A Coworking Space

The coronavirus pandemic has made most of the employees work from home for the first time, coworking spaces have become one of the top 10 most successful businesses to start. This trend of working remotely will be there even after the pandemic because it has its own benefits. So taking the current situation into consideration, it is the right time to capitalize on the rising popularity of remote work by creating a modern co-working space that addresses the pain points of entrepreneurs making it one of the best business ideas that make money.

One can choose a convenient location, build it out with highly sought after amenities, and consider local impact. If you want the answer to what is the most profitable business in 2020? – this would be it, as it is a highly sought after business idea given the current situation.

And if you think it’s a very expensive investment plan, then starting a coworking space is among the best business ideas with low investments. You can also cut down by not buying the property but renting it initially until you make enough profit to acquire it. It is one of the best business ideas in India as they are currently in demand.

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Bicycle Rental Business

In many parts of the country, this business is gaining popularity and rental business are currently among the best business ideas in India. Today, many people tend to ride a bicycle for fitness or to travel with a group of enthusiasts or a daily commute. Many online and offline bicycle rental businesses have started in the last few years. It is also one of the best business ideas from home as you can also develop an app for renting a bicycle.

Over the years it has become among the top money-making businesses as people are now using GPS and Bluetooth enabled bicycles an e-bike can be rented via a mobile app. The user can view nearby available bicycles on the app, scan the QR code on the bicycle to unlock it and ride away. You get to charge by the hour or by the days according to the individual’s need.

As an owner, you also don’t need to worry about the bicycle’s security as they get locked automatically after use. This is a very innovative business idea to make money in 2021 but with a little bit of an investment on your part.

Ecommerce & Dropshipping

Ecommerce is the best business ideas for 2021 as there are a couple of avenues you can take here. Ecommerce is one of the best business ideas online as you can turn your hobby into a business by selling the products you have created, on platforms such as Etsy, Amazon, Flipkart and through social media (Instagram has a booming marketplace for this).

Alternatively, you can choose a particular line of products you want to sell but only after extensive market research. This is known to be among the best business ideas for 2021 in India, as anyone can build their own website from scratch, advertise via social media, and get selling. If you don’t make your own products, then you can also go for Dropshipping. It is an eCommerce business model that involves shipping the products to customers.

Dropshipping is one of the best business ideas for making money because you can sell higher-end products with low shipping costs, you can earn a profitable amount quickly. There is no doubt that E-commerce is the best business ideas for future, but it does require some upfront costs which could be daunting, but if you do plenty of research and work hard, your first sale will make it all worth it!

Conclusion

We hope this tiny list of the top money-making businesses we have provided sparks with some creativity in you and you can come up with your own unique ideas or make money in one of the ways mentions. I do not want to make big investments up front, definitely try out alternatives to the top 10 small business ideas provided above. We wish you all the best in your endeavours!

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StartupTalkyDevashish Shrivastava

Frequently Asked Questions

What are the most successful small businesses?

Some of the most profitable business ideas are website design, cleaning services and real estate.

How can I start my own business with no money?

Choose a small business idea with low startup costs. If you still don’t have enough money, you can finance your business idea through crowdfunding or investors.

What are the future business ideas for 2021?

The best business ideas are e-commerce, dropshipping, rental business, coworking space, hairdressing, makeup artist, graphic designer, wedding planning, personal training, plant-based food.

Which business is best for earning money?

Best business ideas to make money are
- Create and sell chatbots to other business owners.
- Become an online fundraising consultant.
- Get paid for educational blogging.
- Use your education to teach classes online.
- Become a green app developer.
What are the most successful small businesses?

Most profitable small businesses are Auto repair, Food truck, Car wash services, Electronics repair, IT support, etc.
October 8, 2021
How Do Airline Companies Make Profit?

India is one of the largest populated countries with over 1.3 billion people in the world with the biggest untapped domestic markets. Even this year, (2021), the Indian government has planned to spend $23.7 billion on building the transport infrastructure of which a huge part of the money would be invested in building airports. The aim is to comfort travelers by having easy access to airports as well as having efficient connectivity across the nation. This will also help increase the number of travelers to India and the travel and tourism of our country will continue to grow.

For Indian airlines this can be a boon to earn money, however, this is yet not the case. The airline companies in India do not have good earning sources due to many factors some of which are high operational costs, high fuel costs, taxes, etc. Due to such reasons, the airlines have started cutting costs in order to save money as well as earn profits. We’ve listed some strategies that the airline companies use to make profit below.

1. Overcharging for Overweight Luggage:

Overcharging for extra luggage is a good profit margin for Airlines

Airline companies want to save costs wherever possible. They earn through different ways as well and one of the most effective ones is to charge for overwight luggage. If any passenger crosses the weight of the luggage, the person will have to pay an extra amount.

2. Chargeable Food and Drinks:

Earlier many airline companies had tie-ups and partnerships with the restaurants here. The high-quality cuisine added more value to the passenger’s experience. After the Covid-19 pandemic hit hard, most companies have started taking extra caution money along with the normal food charges. Also, the companies who gave food and drinks complimentary have stopped these services so that the staff and passengers can be contactless.

3. Crammed Seating:

Often to save money the airline companies make the aircraft in a way where there is little or no space for a person to have comfort while traveling. In the same space, more people are accommodated.

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4. No Pillow/Blankets:

Earlier, for long route flights and journeys, the passengers would get amenities like blankets and pillow to sleep, however, to save money, these companies have cut-down on these services and have now made them chargeable.

5. Optimized Allocation of Resources:

When the allocation of resources i.e. staff and equipment is deficient the airline companies need to pay a high amount of money. It is very important that the airline company uses optimization techniques for the robust allocation of resources.

6. Selecting Routes that have more Traffic:

Airlines take longer routes to take up more passengers

A lot of times when there is less number of passengers traveling to a particular destination, the flights tend to get canceled or the passenger’s tickets are upgraded. At such times the airline companies select routes where there is scope of picking up more passengers, so that the company gets little traffic.

7. Increasing Fares during Festivals, Holidays, and Weekends:

Even when the airline companies want to maintain steady airfare rates, they aren’t able to. During the times of festivals, government holidays, or long weekends, these companies start charging heavily to customers and sell tickets at a very premium price. This is one of the easy ways in which Indian airline companies save their money.

8. Giving Discounts on Last-Minute Empty Seats:

There are times when the airline company gives discounts to the passengers at the very last moment so that their vacant seats don’t go unoccupied and they save a little amount of the cost.

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9. Cutting Down In-Flight Entertainment:

Many flights used to have in-flight entertainment for the passengers. Since even that carries a little weight per seat, the total weight was larger than expected and hence forced the company to have a larger amount of fuel. On the domestic flights, many companies have now adjusted to a more no entertainment journey.

10. Reducing Labor Costs:

In the airline industry, labor accounts for almost 30% – 35% of the total operating expenses. When these airline companies see that there are less or no profits, they cut down the labor costs by laying off the laborers or by reducing their pays, or not giving them any benefits. This is a consequence of being in a business where there is cutthroat competition. In such cases, the airline companies sometimes compete on the prices and not the quality.

Final Words

These are just some of the general ways Airlines make profit. Given the dire situation where they had to be shut for months at an end it is not unlikely that there will be hike in prices for tickets and penalties as well as have previously free services now chargeable. That being said, airplanes are still a very convenient and fast way to reach a destination so it will always remain unavoidable.

Frequently Asked Questions – FAQs

Which is the No 1 airline in India?

Going by the number of passengers that use IndiGo, it is undoubtedly India’s most loved low-cost carrier. They are also the largest one in the country.

Why airlines are not profitable in India?

Most Airlines in India struggle to turn a profit due to the high taxes, price ceilings, intense competition, and variable fuel prices.

Why do airlines take longer routes to reach shorter distances?

Airlines usually do this to pick up more passengers so that they do not waste any seat on the flight.

February 24, 2021
Best Electrical Business Ideas: Profitable And Easy

The growth in the electrical consumption is increasing globally every day. The most important factor for the same is the increasing use of technology. It is a very suitable time if you are thinking about electrical business ideas. If you belong to the electrical field, then it would be a very lucrative idea to start with electrical business ideas. However, if you are not from that field, then also you can start with a proper strategy and guideline.

So, let’s jump into the article and find out what are the most reliable and profitable electrical business ideas.

How to Build PC-Computer For Daily Work/Custom Made Computer

As you start up your business career, you will certainly need the help of a custom PC that is made specifically for the work that you do. Custom-made PCs offer a lot of advantages compared to the regular PCs as they are solely built for a specific purpose that you require.

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Battery Manufacturing

If you are thinking to start your own production business from all electrical business ideas, then battery manufacturing can be considered. It might not be a very easy job, but it is also not a rocket science. You need to have a few guidance and training which is available almost everywhere.

Battery Manufacturing

However, you need a few license and documents to start your battery producing business. Get a NOC from local pollution monitoring authorities to run your business.

Mobile And Computer Repairing Business

This one is one of the best electrical business ideas because it is very profitable. Every household out there posses at least one smartphone or a laptop, or at least a desktop. So it is obvious for people to flock into your shop to repair their electronic handles.

Electronic Appliances

There are two ways you can operate this as one of the versatile electrical business ideas. First, you can start selling the electrical appliances in your shop, both physical and virtual. In this option, you have to purchase from and producer and sell it to your customers.

Electrical Appliances that are used daily

Secondly, you can start a manufacturing unit. You need to have raw materials assembled so you can start making electronic products. Both-way, it is going to be profitable because there is a rise in the demand in electrical appliances.

Air Compressors

Air compressors are utilized in a lot of places. Starting from smaller gas stations to the bigger manufacturing plants. The air compressor is almost found in all of the heavy machines. Air compressors are basically used to convert power into potential energy stored in pressurized air.

Therefore, if you are thinking this option to opt among all the electrical business ideas, then start from the scratch. Get enough knowledge and attend raining and workshop programs that are available in the internet.

Green Consulting

Keeping in mind the damages happening to the environment, green consulting have started. The journey with green-oriented operations is not a new thing. Since last few years, the idea of manufacturing eco-friendly way of improving energy efficiency.

Choose eco-freindly ways of electrical operations

For starting your green consulting there are a few things you need to possess. The most important is a combination of electrical engineering license as well as Leadership in Energy and Environmental Design certification (LEED).

Security Gadgets

If you intend to open a manufacturing unit, then you might need high professionals to work under you. Also, you will need huge machinery. A lot of investment to start your business with.

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It is recommended to open up a store to sell security products. You can get the franchise of an existing brand. Otherwise, opt for many branded products and assemble them in your shop. With the growing crime and nuisance activities, the demand for security cameras and other gadgets are high in demand. They are required in institutions like hospital, school, offices, residents, complex, restaurants, hotels etc.

Repair and Maintenance Services

Maybe it is about any institution or a residential home, everywhere it is electrical appliances are being used for almost every work. Home repairing services also include the repair and maintenance of electronic goods. So thinking about this as one of the best electrical business ideas can also be pretty profitable.

Choose From The Best Trade Business Ideas

Trade business ideas are essential financial ideas. It includes the purchasingand selling of product and services. There are monetary transactions being donein exchange for the product and services. Exchange can occur inside an economybetween the producers as well as the consumers. Trading busin…

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E-waste Management

As the life span of electronic gadgets reduces, we tend to buy more gadgets. However, there is no place to dump waste products. Also, throwing them out here and there can also be hazardous to the health. So, to make it more environment friendly, e-waste became a thing.

E-waste Management

E-wastes are essentially the discarded, surplus, obsolete, broken, electrical or electronic devices. The global e-waste management market has its net value worth $17 billion in 2015. By the end of 2020, it is expected to reach up to $49.9 billion. So, you know now, not a bad one among the electrical business ideas.

Electronics-related Blog

Blogging belongs to the universe. You just have to have enough knowledge about your preferred field. For the time being, let’s think you are a master in electronics and you want to share your views of the world. There is a lot to talk about in your blog, or even if you are doing a vlog.

Recently, the most popular thing that has come up is reviews about gadgets. t will be a wonderful opportunity if you know all the nooks and croons of the gadgets that are getting released in the market.

Growth in Electrical Market

In case you are doing a collaboration, you will not even need to buy the gadget. But you need to master the art of market your product to the audience. This might also make you an influencer. So, you have to agree, this is one of the best electrical business ideas.

Electrical Training

This is another option besides blogging and vlogging. You can start teaching others professionally. If you have a degree you can start your private training courses and charge people accordingly. The interested ones will obviously pay you for the training session.

Electrical business ideas

You need to provide a certificate for every course. Also, you need to make sure that the certificate holds a value. So you can collaborate with institutions that offer valid certificates that can be used for making an impression.

Electrical business ideas need to have a good start with in-depth research. The entire world can be your target audience. But you need to be very specific about why people would purchase from you. Get all the basics cleared about electronics so you can convince your buyers. Customer satisfaction should be your priority. So, these few electrical business ideas will surely be profitable if applied in a proper way.

October 16, 2020