Top 5 Small Business Ideas that can NEVER FAIL

The following small business ideas are based on my personal observation. At the same time, i am not saying that i am sharing some rocket science in this post. It’s just somethings are happening around us that we don’t notice in daily routine. In my next post in the Business section, i will explain why these small business ideas can never fail.

1. A Mobile/Laptop repair shop:

 You can take advantage of increasing penetration of smartphones and laptops in India. It’s a small business with huge potential. Gradually, desktops are being replaced by laptops. Now it is mandatory in most of the schools to carry laptops. The next generation will be of Laptop and smartphones. In big cities, good repair shops charge Rs 200 just to check the device. It does not guarantee a repair. If you can provide home service then nothing like that. Recently, my wife’s smartphone knocked off. She found difficult to get it repaired. You may find a lot of mobile recharge shops that accept repair but there is no certified and branded repair chain. In my opinion, there is huge scope in this area.

2. A Stationery Shop:

 Stationery is low value and on-demand product. There is no threat from e-commerce to this domain. Secondly, the average purchase value is normally less than Rs 100. Therefore, this small business will remain successful in offline mode. I tried online stationery purchase. Either the delivery charges are high or min order value is Rs 500. Lastly, i have not seen people stocking stationery items. This small business is more successful near educational institutions. The only threat is more competition. For any business, competition is always a threat. In India, there is a tendency to replicate successful business models.

3. A Dance School: 

I have seen a lot of craze among kids and adults to learn dance. Only investment in this small business is to hire a good dance teacher and rented/owned commercial hall. Dance is also promoted as an alternative form of exercise. Currently, Dance is positioned as three in one concept i.e. relaxation, exercise and enjoyment. The dance teachers and dancers are being hired on profit sharing basis. They also organize dance classes in various apartments and schools. The only issue is to find good dance teachers and dancers. Only dance enthusiasts are interested in this business idea. There is not much competition.

4. Facility Management Services:

 A small business idea in B2B segment for those who are not comfortable with B2C segment. It requires good management skills. If you are not good in that then no problem, you can hire retired servicemen. You can hire temporary staff from staffing agency if you don’t want to deal with them directly. It is a high margin small business. In my apartment, i have observed that agency is being paid Rs 15000 whereas the workers are paid only Rs 8000. With the apartment culture growing in small cities, you can start this small business in state capitals. You can also start it on a very small scale like small offices, guest houses or PG’s. The investment is negligible as the requirement of workers is on-demand depending on the business.

5. A Morning/Evening Snacks Shop: 

I am very much convinced about this small business. The key success factor is QUALITY. Once the word of mouth publicity starts then there is NO looking back. These bachelors have a tight budget but want quality food. The business model is successful because of economies of scale. In the morning, this shop serves paranthas, vada pav, etc. The evening menu is samosa, kachori, dhokla etc. The wastage is minimum as most of the food items are served on demand.

Words of Wisdom:
There are a lot of small business opportunities around. I only shared the ones noticed by me. The list may vary from geography to geography. Small business is more likely to succeed because of low cost and control on operations. Small business is easy to start and can be scaled up in future. The best part is none of the above mentioned small business ideas can be replicated online. Therefore, there is NO Threat of E-Commerce. The key to the success of any business is to keep the cost LOW. I personally believe in this philosophy. On the other hand, if god forbids and the small business idea does not click then it is easy to wrap up the business and start something new. If the investment is high then loses are also high. Though everyone will not agree with me :).