Mumbai is the financial capital of India and one of the fastest growing economies in the world. From startups to MNCs to even fortune 500 companies, Mumbai has seen them all. A lot of money is being pumped into the economy and as a result the business space in Mumbai is undergoing a lot of changes. You can think of many business ideas in Mumbai which can be capable of generating good income for you.
In recent years, the Indian economy has been growing at a rate of 7-8% per year with the manufacturing and trade sectors booming. Indian manufacturing is expected to more than double.
This means that there is a very large pool of consumers who would be able to afford your product. Also, Indian culture is very accepting of entrepreneurship and an estimated 60% of the population lives in towns and villages.
The growing trend in Mumbai is to set up startups. Many are taking the plunge into this space for the first time and this is what makes it challenging. There is a lot of uncertainty and not enough help available.
Another trend in Mumbai is the increasing number of MNCs that are setting up their offices there. Employees are moving to Mumbai from around the country, and there is a huge demand for housing in the city.
It’s easy to start a business in Mumbai, but it’s not always easy to find the right materials for your business. There are many suppliers, but it can be difficult to find exactly what you are looking for. The best place to start is at the roadside local shops which sell all sorts of things, from fabrics to office supplies.
You can ask the vendor for help or advice on what you’re looking for. I’ve been running my own business in Mumbai for 10 years and I’ve found that buying materials from the local market has always been the best option. However, there are many other businesses which are doing well and managing to succeed, so you’ll need to analyse your target audience and create a strategy for your business.
Here I’m going to try to talk about the opportunities for small business owners in Mumbai. The city of Mumbai in India has opportunities for many aspects of running a business.
Some of the business opportunities are general, while others are more specific as to what they deal in. Whether you are a small business owner, or somebody that is looking to start a brand new business in Mumbai, chances are there is a niche for you.
Some of the general businesses that people in Mumbai are more likely to be involved in are construction, exporting, import or wholesale, banking, car sales, art and design, and advertising. Some more specific businesses that people in Mumbai are likely to be involved in are fashion, technology, or entertainment.
Here is the List of small business ideas in mumbai:
1. Acting classes business in Mumbai
Mumbai is well known for Bollywood. There is a good chance that you can start your own acting classes business. But first you need to have skill sets in the acting department. Mumbai has a good population in which many individuals are coming to learn acting skills and make entry into bollywood.
Acting classes business in Mumbai is remarkable when it comes to boosting your skills in a short time frame. Acting classes for beginners teach you the skills you need to model and act professionally and this makes you grow as a person while appearing more confident in your social circles.
Acting classes are largely designed to familiarize you with the basics of performing from an actor’s perspective.
Acting classes business is a great way to run your business and to help others. Acting can help you get a better perspective on the world and improve your self-esteem.
You can also help others by helping them get more opportunities to act. It’s also a great way to make friends and connections. If you want to start an acting classes business, it’s important to do your research and look at what the competition is up to.
2. Food Restaurant Business in Mumbai
Food Restaurant business is always attracting so much population in mumbai. So you can also think of this business. There are many local items which are famous in Mumbai like vada pav, south indian dosa, mumbai special pav bhaji, etc. You can start the food business with limited items also.
Restaurants provide people having a busy lifestyle a place where they can save time. So there is a good scope of starting a restaurants business in Mumbai. This business comes in most Profitable business ideas in Mumbai.
3. Digital Marketing Agency in Mumbai
Digital Marketing encompasses traditional advertising, branding and events as well as many other online activities. Digital marketing is trending in all types of businesses.
You can provide various services like content writing, content marketing, social media marketing, email marketing, etc. There is a high probability of getting good business in Mumbai with lots of businesses exploring.
Any agency business requires a team. If you are having a good team in your business then you can perform much better and provide good results to your clients.
Digital marketing is the use of the internet and social media for business and marketing purposes. Digital marketing is a good investment business ideas for anyone who wants to explore.
Digital marketing is a service which requires skilled people. You must have skilled people in your business to get the job done for clients. The scope is also good in this business because small businesses also want to expand their business with online marketing. It is a best Profitable business ideas in the market.
4. Dance classes business in Mumbai
If you are passionate about dancing and music then you can also start your own business in this field. Dancing is a passion and you can grow your business with it. There are many people in Mumbai who want to explore the Bollywood industry so they are always looking for dance classes.
You can get more clients If you think of starting this business in Mumbai because of the film industry. Your target audience can be schools student, college students, and also working professionals who want to move in this field and learn dancing.
5. Real Estate Business in Mumbai
Real estate business ensures good profits when compared to other business categories. But you need to do more promotions and advertisements on all the platforms.
The platform includes google, facebook, instagram, local newspaper targeting, etc. It is one of the best Profitable business ideas for making good profits.
There is a better scope in the real estate business in mumbai. You need to find high paying customers in this business. If you achieve the target in less numbers then also you have a good chance of profit margins. It is one of the best investment business ideas to get good profits.
6. Financial planning services
Financial planning services involve guiding the clients in a way that they actually get good profits after investment of their money. You need to have some skill sets in the financial planning sector.
There are many users in Mumbai who are always looking for financial services when they have good money to invest.
You can grow in this business If you are having a fine structure of the investments. This business is so useful for those people who are having a network of people who are eager to invest in the market.
7. Amazon Business
Amazon Business is the same as selling the products on amazon marketplace. You can sell any category of products on the amazon marketplace and earn money online. You don’t need any physical store to sell the items online.
But If you are planning to sell taxable items on any ecommerce marketplaces then you need to have a gst number for that. It is not mandatory to list your items in the quantity but If you have at least 4 to 5 products then also It is fine for you to start a business in mumbai.
8. Coffee shop
Opening a Coffee shop is a good idea in Mumbai because there are so many colleges and businesses. You can definitely earn good profit in this business If you have done proper research about the area in which you are thinking to start your business.
Tea and coffee shops are always running whether it is day or night. There are many organizations which run night shifts. So you can expect business at that time also.
9. Cooking classes
Cooking classes business are profitable for womens and mens both. You need to have good skills in the cooking industry. If you are able to cook different varieties of items like punjabi, south indian, gujarati, and many other famous dishes of India then you can expect good business in mumbai.
Cooking classes are a great way to learn how to cook the right way. Cooking skills can take many forms: hand-eye coordination, knife skills, cooking skills, etc. Cooking is a creative art, which means you get to practice and perfect your skills.
If you’re interested in starting up a business, cooking classes are a great way to start learning about starting a cooking business.
10. Affiliate Marketing
Affiliate marketing is trending nowadays. If you have your own website of any products and services then you can start affiliate marketing with that. There are many affiliate products available on Amazon and Flipkart.
You can start the affiliation business on youtube also. If you have a youtube channel with a good number of subscribers then it is a good chance to convert them into affiliate products or services.
Affiliate Marketing is a booming industry and there are many key players in the market who are generating good income with it. Affiliate Marketing is made for anyone who is an influencer in their own niche.
11. T-Shirt Printing Business
The T-shirt printing business in Mumbai is a good idea. There are many events and functions going on everyday in Mumbai. It is one of the best small and medium businesses which you can start with little investment. You just need to have a good printing machine and other resources.
The T-Shirt Printing business is a great way to make some extra money at home also. T-shirt printing is a really fun and interesting business. It’s a fantastic way to express yourself and create a physical representation of who you are. It’s also a unique form of merchandising that can help you to build your brand.
T-shirt printing is a great hobby or side hustle, and you can make money without needing to have a ton of money to invest in the business. T-shirt printing businesses usually require a small investment, and you can buy a kit that has templates and stencils for starting your business.
You can even make your own T-shirts for an even lower cost, but it’s worth researching the rest before you decide to embark on that more complicated journey. T-Shirt Printing Business has a good potential to get some good money.
The T-Shirt Printing Business is most popular in developing cities. People want to look fancy and they require uniqueness in their clothing styles.
12. Ecommerce Business
The market is filled with many ecommerce marketplaces. These include Amazon, Snapdeal, Shopclues, Flipkart, Paytm, etc. You can start your business on any of the ecommerce platforms with the gst number and list as many products. There is a policy that these marketplace have defined for the sellers. If you follow the policies and work with that then you can get good sales from them.
If you want to sell on amazon India marketplace then you can register your details on the amazon seller central. After the successful registration you can list the items in the inventory, get the orders, process the orders within the seller central. Any online business can get you extra profits If you actually consider this business for your growth.
13. Beauty & SPA Business
The beauty business is a business that deals in the sale of beauty products, and also offers services such as facials and waxing. Beauty and spa businesses in Mumbai, as with beauty and spa businesses anywhere, focus on all the ways that people can maintain their youthful appearance. The industry has evolved over the years to stay on top of the market.
Running a spa business is a fulfilling and rewarding career choice that can make a difference in the world. A spa business is not just about providing facials, massages, and acupuncture. A spa is also a place where mental wellbeing can be nurtured through healing environments and nurturing musical harmonies.
Mumbai is a great city for starting a beauty and spa business. Ichhapur Chowk is a popular area for beauty and spa stores in particular as the area is densely populated with young women who want to keep their appearance up with beauty products and treatments.
Mumbai has a lot of excellent professional salons that are known for their standard, so if you want your beauty business to be a success, opening up one in Mumbai will give you access to potential customers.
14. Coaching Institute
Coaching institute business in Mumbai can be a profitable business. You need to have good teachers in every field. Coaching institute offers a number of benefits, but there’s also some drawbacks to starting your own coaching institute.
You need to set a budget for your project, what qualifications you need to build your team, the curriculum you’ll teach, and the costs of the building you’ll need to rent or buy.
Other factors to consider are the administrative costs of running your own coaching institute, and the time commitment. There’s a lot to think about before you decide to start a coaching centers in Mumbai.
The coaching centers trains students on how to succeed on some of the toughest examinations. It provides tests and assessments to students and helps them understand where they need to improve in order to achieve their goals.
In coaching institute business, one of the most important considerations is the student. They’re the ones making the investment to learn more, and they’d like to get the most out of the time they spend with your business. Be more cognisant of what they rely on the most.
They may want more one-on-one time, or more time for online courses. Knowledge is power, and more knowledge will help your business do better. With more and more people just looking to get ahead in life, there is a huge demand for coaching institutes that can prepare people for different types of challenges.
The benefit of a coaching institute is that it provides essential, tailored training in a contemporary and convenient location. Nowadays, people take for granted that they can learn on the go, and that their needs and requirements are constantly changing. There’s no better way than a coaching institute to give people the skills and the confidence they need in their life.
15. Security Agency business in Mumbai
Security agencies are one of the fastest-growing industries in the security industry. As we move into an increasingly global society, more people are looking for security. Security agencies are responsible for everything from protection to verification of identity and protection of assets.
Working as an agent is a highly-glamorous occupation. Security agencies boast an elite workforce who are often highly educated and very well paid. A career as a security agent is one of the most desired jobs.
As a business owner, there comes a point where you have to outsource some of the work to a professional team. Security Agency business in Mumbai can offer you the professional-level services you need, but it’s important that you know the benefits they provide before you get started.
Whether it’s about providing security services for your event, or protecting your company’s product from potential theft, serious security breaches, or protecting property, these are just some of the services that security agencies are good at providing to the clients.
16. Driving school business in Mumbai
There is a good scope of driving school business in Mumbai. You have to be a professional driver who can provide good driving skills to the clients.
The target audience for this business can be adults only. This is totally a practical business and work that means you have to provide the services with pure focus and concentration.
Driving schools business is a great way to earn some extra cash, or a full time income. Driving school business in Mumbai offers a range of benefits that you won’t be able to get elsewhere.
You can help locals who don’t have the opportunity to take driver’s education, and you can work with people who don’t want to face the assessment themselves. You may also work with people who have trouble physically driving.
As more people learn to drive and we have more cars on the roads, there’s a huge new opportunity for entrepreneurs to launch their own driving school business.
Once you’ve figured out the best place for your driving schools, you need to give your customers a compelling reason to choose it over others. Make sure you figure out what those benefits are and outline them to your customers.
17. Food delivery service business in Mumbai
Food delivery is a niche that is growing rapidly all over the world and is highly prized for the convenience it offers. It’s a busy world out there and most people don’t have the time to cook food, which would make eating healthy difficult.
Food delivery lets these people order without ever having to leave their desk – they just log on, browse the selection on the site, place their order and wait for their food to arrive.
When it comes to getting into the food delivery service business you must have to work on providing quality food to customers.
Food delivery service is a business where a third-party delivery company delivers their customer’s order from the restaurant. The service operates in a way where the company is contracted for a period of time by the restaurant to provide delivery services only to that restaurant.
It is a relatively new concept that is yet to witness rapid growth. Mumbai is the most populous metropolitan region in the country. And it is where the food delivery service businesses are booming.
18. Travel Agency business in Mumbai
A travel agency is an important type of business that is often overlooked. This is unfortunate, because a travel agency is a business that can offer you benefits. This is also an opportunity for you to find success. Travel agencies that are successful have the scope to offer lucrative deals to their customers.
This is achieved by being more knowledgeable than other agencies and by catering to the specific needs of their customers. A travel agency will help you book flights, hotels and other travel services that you require.
One of the main benefits of a Travel Agency is to get a better overview of various travel related products and services. This will help travelers find the best fit for travel to their needs.
Running a Travel Agency is a great way to make a decent living. Not only is the turnover significantly higher than most businesses, but it also helps you work with people from all over the world, who you’ll get to see in person. Remember, one of the best Travel Agency businesses is one that’s diverse. Look for markets where tourism is up and remember that the scope for your business can include honeymoons and private jets.
19. Marathi Language tutor business in Mumbai
Many people in Mumbai are interested in learning Marathi from a Marathi language tutor, but they have no idea where they can find one. So you can consider this business and start making money by providing lessons to the people who want to learn the language.
Before deciding on a business idea, it’s essential to do your research and think about what you’ll enjoy doing and what you’ll be good at. If you’re thinking of starting a business, you might want to consider teaching Marathi. Teaching Marathi in a tuition center or school can be a rewarding, lucrative, and fun job.
Teachers who are interested in teaching Marathi can benefit from a Marathi Language tutor business.
A Marathi Language tutor business in Mumbai is for someone who is passionate about the Marathi language and wants to give back to the community by teaching others the language.
20. Become a tour guide professional in Mumbai
When you’re trying to determine whether starting a tour guide company in Mumbai would be a good option for you, you also need to think about what your goals are for the business. Does the two-year education programme at any website tempt you? Or does the idea of owning a well-established business in Mumbai excite you? With an education, you can be the go-to tour guide in the city.
Tour guiding is a very diverse profession, and it can be pursued in a variety of jobs. It’s a great career choice if you love meeting people and are looking for a career that will give you plenty of job opportunities.
For example, I’ve worked in the customer support industry, but I also guide tours. Tour guiding gives you the flexibility to work across different fields. You can work in education, tourism, cultural studies, and other fields.
Tour guide professionals promise to take visitors to places they’ve never been before in a comfortable and interesting manner. Working as a tour guide in Mumbai can be a challenging but rewarding job.
Being a tour guide is not only good for your ego and your personal skill set, but it’s also a great way to help out the local economy of a city.
Why Mumbai is a good place to start any small and medium business?
Every year we make it bigger and bigger, but how many of them succeed?
How many of them survive? In order to make it big, a business idea has to be right. And it’s not enough to come up with unique and useful products or services, a small business idea needs to be productive in all aspects.
If you ever decide to launch a small business and plan to expand, here are many reasons why your venture in Mumbai or India would be a much better one.
1. Demand and Resources
Mumbai has ample opportunities for small and medium businesses to start and grow. It has plenty of resources for start-ups in fields like IT, medicine, engineering, real estate and more. And the city is well connected by all forms of transportation. Mumbai’s population keeps growing year in and year out, so chances are that you’ll have plenty of demand for your products and services.
2. Capital availability
In India, you are not solely limited by availability of capital. Instead, you just need to be aware of the market demands, and your efforts will benefit you too. You can start any business, no matter their small size, since you have access to all sorts of services. Apart from being a vibrant city offering great opportunities to get started, you are a very cost-effective way to start an online business.
3. Mumbai is a competitive market
Just ask any small business in other cities – there is an endless supply of competition in these cities. The competition doesn’t only affect new businesses, but also existing ones. In fact, it’s becoming difficult to be a large scale business owner in Mumbai. But you will get good sales of your products and services because the demand is always high when compared with other cities.
4. Big potential in Mumbai City
The reason why more and more people are moving to Mumbai to start their own business or set up a small company is because of the huge potential. There are millions of startups that happen every single day that will never come out of their inception phase for good. Every business person must always strive to find and capitalize on the opportunities.
The main reason why Mumbai is an awesome place to start a business is mainly due to the rich experience of the people that come in and work at startups. This great pool of employees brings a lot of exposure to new ideas and helps to find their own style which is unique and that keeps them from being pigeon-holed into the same mold.
The city is a vibrant marketplace filled with entrepreneurs and investors that are looking to provide opportunities and the people in Mumbai are looking for the same kind of opportunities as well. The best thing in Mumbai is that it is very easy to meet other people that believe in and love business and that are happy to share their ideas. There are many startup companies in Mumbai and the people of Mumbai are always helping each other.