Retail business in India accounts for 10% of GDP and 8% of employment. Retail business is the most profitable business in India with low and moderate investments. So people with low or moderate capital investments can focus on small or medium retail stores for a high-profit margin business in India.
Retail businesses sell items or services to customers for their consumption, use, or pleasure. They typically sell items and services in-store but some items may be sold online or over the phone and then shipped to the customer. Examples of retail businesses include clothing, drug, grocery, and convenience stores. Retail business in India accounts for 10% of GDP and 8% of employment. Retail business is the most profitable business in India with low and moderate investments. So people with low or moderate capital investments can focus on small or medium retail stores for a high-profit margin business in India.Opening a store could demand an investment anywhere between 10 lakhs to 2 Crores depending on the size of the store. These funds will be needed for various actions that start with registration and spreads over a wide variety of needs including the hiring of employees and store design.
An idea of the product you are planning to sell and the source from where you are going to acquire it. Some space to start selling from. Registration of your business entity post which you must open a bank account and obtain a sales tax registration. If you want to start a business where you offer finished products directly to consumers, then retail is definitely the direction you should be looking. There are plenty of different types of retail businesses. But some are more expensive than others to get up and running. Here are another 25 low cost retail business ideas (Part-2) that won’t break the bank.
Low Cost Retail Business Ideas
If you want to brew your own beer, you can invest in some basic equipment and then open up your own microbrewery.
■ Farmers Market Vendor
For those who grow or make various food items, you can sell those goods at farmers markets for a low overhead solution.
■ Retail Pharmacy
Pharmacies are fairly small and offer some inexpensive retail goods. So you could open up a small neighborhood pharmacy without a lot of upfront investment.
■ Card Shop
You could also focus specifically on selling greeting cards and similar goods that are inexpensive and don’t take up a lot of space.
■ Paper Products Shop
Likewise, you can open up a retail business selling other types of paper products like stationery and journals without a lot of upfront cost.
■ Printed Products Designer
If you have some design skills, you can have your designs printed on items like t-shirts, mugs and cards. You can order those finished products and then sell them online or in a small retail location.
■ Gift Basket Service
You can also sell a variety of different products arranged in specialty gift baskets.
■ Local Gift Shop
Or you can stick with a more straightforward approach and open up a small gift shop in your local community.
■ Accessories Boutique
If you sell small accessories like handbags and jewelry, you can open up a retail store that’s fairly small and doesn’t have a ton of expensive inventory.
■ Wedding Shop
You could also open a shop that’s specifically for wedding related purchases. Since this is something that you can run by appointment, you can keep labor costs down and potentially even get away with a location that’s not as centrally located as other retail businesses might need to be.
■ Craft Supply Store
Art and craft supplies can be relatively inexpensive and small. So that’s another niche you can potentially build a retail business around.
■ Gadget Accessory Store
You can also build a retail business around selling tech accessories like phone and tablet cases.
■ Auto Parts Store
Auto parts aren’t necessarily inexpensive to stock. But you can save money in other areas like your actual location.
■ Workwear Retailer
You can also open up a retail store that focuses on selling things like scrubs and work uniforms, which are fairly inexpensive to stock.
■ Print Shop
Or you can open up a print shop where you sell custom signs and other printed goods from a small storefront.
■ Kids Store
Kids products like clothing and toys are relatively inexpensive and don’t take up much space. So you can open up a specialty kids store without a ton of cost.
■ Pet Supply Store
Similarly, you can open up a small store that sells pet food, toys and other items specifically for dogs, cats and other animals.
■ Beauty Shop
Or you can open up a beauty shop where you sell makeup, hair products and other beauty related items.
You can also open up a floral shop where you put together flower arrangements and sell those finished products to consumers.
■ eCommerce Drop-Off Store
If you want to sell product online but don’t have a lot of inventory to start, you can set up a storefront where you collect items to sell on consignment.
■ Retail Kiosk
You can also open up a retail kiosk to sell small items directly to consumers. You can set up kiosks in shopping centers or other places with lots of foot traffic and stock those kiosks with small products.
■ Vending Machines
Or you can focus on vending machines that dispense small snacks or similar items.
■ Pop-Up Retailer
If you only want to sell items on occasion, you can sell goods at pop-up shops so you don’t have to invest in a dedicated retail space.
■ Flea Market Vendor
Or you can sell various types of items at flea markets or similar events instead of investing in a storefront.
■ Subscription Box Service
Subscription boxes offer a unique way to deliver products that has become increasingly popular in recent years. You can choose a specific niche and then set up a subscription system that allows you to sell products without a lot of overhead.