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 25 low cost retail business ideas (Part-1) that won’t break the bank.
Low Cost Retail Business Ideas
■ eCommerce Retailer
If you want to sell products to consumers without having to invest in an actual storefront, the easiest way to get started is to open up an eCommerce site. There are plenty of low cost options out there, ranging from eBay and Amazon to Shopify and BigCommerce.
■ Handmade Business
You can also focus more specifically on selling your own handmade creations. You can use a platform like Etsy or sell your wares at local events.
■ Collectibles Seller
For those who want to sell more specific items, you could focus on collectible items like coins and sports memorabilia and sell those items on platforms like eBay.
■ Mobile Retail Boutique
If you want to have a physical retail business but don’t want to invest in a storefront, you could build a mobile retail business using an old camper or similar vehicle that you can set up at fairs or events as you see fit.
■ Used Bookstore
You can also open your own used bookstore, either in a set location or online. Buying used books is a fairly inexpensive prospect as far as inventory is concerned.
■ Record Shop
Likewise, you can open a store that sells records, old and new. You can even have a system where you buy inventory right from your customers.
■ Thrift Store
Or you could open up a thrift store where you sell a variety of different goods. For this, you will need a physical location. But you can accept item donations to ease the upfront cost.
■ Consignment Shop
You can also open a consignment store, which sells secondhand goods as well but offers money back to people who bring in their items.
■ Antique Seller
Or you could focus specifically on selling items that are old enough to be considered antiques. You can salvage items and then sell them at booths in stores or at events.
■ Antique Mall
You could also open up an antique mall where you sell goods out of a retail location and then offer any extra space to other antique dealers.
■ News Stand
With a news stand, you can offer newspapers, magazines and a variety of other products out of a cart or small storefront.
■ Produce Stand
You can also open up a stand where you offer produce or other food items in a small setting.
If you’re interested in offering a sweeter variety of food items, you could open up a small bakery or even a mobile bake shop.
■ Food Truck
Or you could open up a mobile food business like a food truck that you can take to fairs and other events.
■ Fair Vendor
You could also simply set up shop at fairs with a stand or booth. In this setting, you can sell various food items or even other retail goods, depending on the specific event.
■ Coffee Cart
For those who want a more regular schedule, you could run a coffee cart where you sell coffee and other items in office buildings or areas with a lot of foot traffic.
■ Lunch Cart
Similarly, you can start a lunch cart where you sell sandwiches or other pre-made items to people on their lunch breaks.
■ Canned Goods Seller
You could also make jams and other canned goods in your home and then sell them online or in a small retail space.
■ Convenience Store
Convenience stores are relatively small and carry a lot of inexpensive items. So you can start one in your area without a lot of upfront investment.
■ Corner Grocery Store
Or you could open up a grocery store with a slightly larger assortment of items, but without taking up a whole lot of space.
■ Butcher Shop
You could also find a more specific niche to keep your overhead even lower. For example, you can focus on selling meat items at a small butcher shop.
■ Health Food Store
Or you can focus specifically on selling organic or healthy food items at a small health foods store.
■ Juice Bar
You can even open up your own juice bar or cart where you sell fresh squeezed juices and smoothies.
■ Ice Cream Shop
For those with more of a sweet tooth, you could also open up a small ice cream shop.
■ Candy Shop
Or you can go even smaller and sell packaged candy at a small storefront or mobile cart.