Those who are planning for the startups already have an idea about which niche they want to enter in but if you have good capital and want to invest it in your startup but not sure which startup would be the best for a good return then here is the list of top booming startup ideas –
1] Online Marketing Agency
Online marketing [also known as digital marketing] is a booming industry worldwide. Time has gone when an only business with huge capital could advertise their business. Now even a small business can advertise their business online with the help of digital marketing with a very limited budget. Not only small businesses but also huge and well-established businesses use online marketing with their traditional marketing. Why companies prefer online marketing is that they can find their target audience easily on the internet as most of the people spend more than half of their time on the internet.
Source – www.emarketer.com
However, one of the benefits of the startup in online marketing [which will include search engine optimization, social media marketing, etc.] is that you will not require huge capital. You will just need is a website, an office space, a few laptops/computers, the Internet and an active team that’s it.
2] Software/website designing and development
There is a popular phrase by Paul Cookson – “Websites promote you 24/7. No employee will do that.” Nowadays every business, whether it is a small business or a well-established business, private sector or public sector, everyone needs a website and this creates a huge demand for the IT industry.
Source – Gartner
From the above chart, it can be seen that IT Services is increasing continuously from 2016 in India. Although the competition in the IT Industry is huge still it’s a great industry for the startup because the IT industry has a great scope at least in this upcoming decade.
As a startup, you first have to decide your services i.e., if you just want to make a website or you want to develop mobile applications or both. Then, on which platform you want to work on i.e., PHP, Java, WordPress, Joomla, .Net, Python, Open Cart, etc. However, many companies modify their platform as per the requirement of the selected project.
Just like online marketing, Investment may not need to be huge for starting up an IT company. However, you can upgrade and expand in the future if your business is doing exceptionally great.
It is suggested that before spending on the startup of the IT Company, you can freelance first to get a better experience and to handle clients individually.
3] Online Coaching
Online coaching is another booming industry worldwide. The rapid increase in internet users gives a great opportunity for new startups.
The benefit of online coaching from the students/learner perspective is that they can learn anytime, anywhere and they can record the tutorial for the future. A benefit of online coaching from the Training instructor point of view is that he may not require to spend on an Infrastructure; He/she will just need a small room, camera [mobile camera may also work fine] and of course talent.
Online coaching also requires minimum investment just like the above two mentioned points. If you start getting the great response you may need to upgrade [completely optional].
4] Fitness Center
People nowadays are aware of the importance of fitness. They tend to spend a good amount of time on their fitness which gives a great opportunity for those who are planning to start their business in this industry.
First of all, you’ll have to decide a location for your fitness center; in this industry, the location matters. Then you’ll have to choose the type of fitness center you want to start. There are multiple types of fitness centers available and you have to choose which center you want to invest in. Some of the types of the fitness center are as follows –
- Aerobic Centers
- Yoga Centers
- Dance Centers
- Pilates Centers
- Sports centers and so on
However, this startup may require huge capital as compared to the above-discussed startups. Here you will have to invest in the following-
- Commercial property/space
- Marketing [because this industry has huge competition]
- Well experienced staff etc.
Investment is huge but if implemented with proper planning then return may also be huge.
5] Artificial Intelligence
Artificial Intelligence is the next booming industry. Artificial Intelligence is transforming every walk of our life. Every business owners now want to integrate AI into their business. AI is present, AI is the future.
Source – Grand View Research
From the above statistics, it is clear that the AI industry is going to grow rapidly in the future. So investing in AI is an excellent idea.
The below image can help you to finalize the type of AI you can invest in
Again, the capital required for the investment in artificial intelligence is huge but the return is also huge as it has greater scope in the future.
6] Food & Beverage
The food and beverage industry has grown considerably over the years. The competition in this industry is huge but there’s no barrier to the new entry. Anyone who has unique ideas that may grab the attention of the customers with their unique service can not only survive in this industry but may also rule the same industry in that particular location.
For your startup, you can choose either one of them or all in your menu –
- Coffee shop
- Fast Food restaurant
- Veg/Nonveg cuisine
- Bakery etc.
For starting your own restaurants you’ll need to look for a proper location where you can easily get the customers with least efforts [the great location would be near to College, Corporate office, hospital, etc.]. It would be great if you have a good amount to invest because more investment will result in the best environment of your restaurant/café and the best environment of your shop will result in attracting more customers. You can also launch your business online where people from the surrounding can order food directly from you.
7] VFX / Graphic designing
VFX/ Graphic designing is another booming industry. As someone said, “an image speaks louder than words”. Most of the companies [especially the new startups] want to improve their social media presence and great graphics play a very crucial role in attracting more visitors to your company’s social profile. Yes, you’ll face the huge competition not only from other graphic design agencies but also from the freelancers. No need for worrying about the competition as far as your designs are unique.
This startup may not require huge investment; you may only need a laptop, workspace, and tools like Photoshop, CorelDraw, and Illustrator, etc. which are a type of one-time investment. So this is definitely one of the best startup ideas.
The Internet is a great place to start a business. E-commerce is another internet-based service that is currently ruling the marketplace. Here you’ll just need is a website where you can publish all the products which you want to display with their price and description. The product can be of a third party. You may also need to spend a small amount on paid ads like Google AdSense, Facebook sponsored ads, etc.
You will need no physical workspace. Here also the investment is minimal and those who are doing small e-commerce businesses are already earning huge.
9] Travel Agency
Tours and travel industry is also a profitable and growing industry worldwide. Tripoto was launched in 2013 and today it is one of the biggest communities of Travelers in the world. It shows if you have something unique in your business then you can succeed in no or very minimum time. But to start a travel agency it is recommended for you to travel to the itineraries which you are going to offer to your customers. Again, the investment depends on the size of your business but for a startup, it is recommended to start with a low investment to check the risk in the market.
10] Event Planning
Profit in this industry continues to rise every year. Nowadays, most people hire event planners to organize their event because they want their event to be special and unique and only a person who is specialized in this field can do this perfectly.
However, it would be great if before getting into this business you get certified. This will add a great impact on your profile. Planners with great portfolio are approached more as compare to the newbies without any portfolio so you will have to create contacts with those who can help you. You can get event planning contracts only if you offer something which is completely different or the services at a lower cost [without bearing the loss].
It is advised to collect good capital before investing as a backup. Customers will pay after the event is successfully completed but for planning purpose you may need to pay from your pocket.
I hope you have got an idea about the industries which will be the best for the startups. If you have some more ideas then you can write those ideas below in the comment section.