Gujarat is one of the leading industrialized states in India. Gujarat is considered the petroleum capital of India due to the presence of large refining capacity set up by private and public sector companies. According to the World Bank report, Gujarat ranks top in ease of doing business among Indian states.
Gujarat’s Industrial Policy offers attractive incentives and concessions for prospective investors. Gujarat is the hub of the chemical industry in India. Major industrial sectors are textiles, electrical engineering, chemicals, fertilizer, petrochemicals, drugs & pharmaceuticals, dairy, cement & ceramics, gems & jewelry, etc.
Here we have compiled the top 10 best business ideas in Gujarat according to the industry trend, raw material availability, and market potential.
Here is a list of 10 Best Small Business Ideas In Gujarat
A full-scale art supplies store is one of the most legitimate business ideas in Gujarat. This is a profitable retail opportunity for an individual who is passionate about art and has knowledge about the equipment that is essential for the artists.
The gross margin is high in this business. You can start with a franchise also. For a small store, focusing on a niche is important.
You can start a fashion design institute in the state of Gujarat. Sufficient knowledge of the subject, artistic mind, and adequate experience on the course is important. As people are becoming more fashion-conscious, apparel and accessories companies are hiring people with various fashion designing portfolio. So, the demand of fashion design institutes and courses are rapidly growing.
Fertilizer contributes to a large segment of the state’s economy. Manufacturing primary and secondary nutrients are the key focus area. Fertilizer is a steady business that shows no signs of fading.
Fertilizers are extensively being used to improve per hectare production of crops that can be used for food and industrial applications. Fertilizer distribution is one of the most profitable small business ideas in Gujarat to start with moderate capital investment.
The Textile Industry has always played a pivotal role in the industrial and economic growth of the state of Gujarat. It is the largest producer (35%) and exporter (60%) of cotton and is the third-largest denim producer in the world.
The state is known as the ‘Manchester of the East’ and ‘Denim City.’ With proper planning and substantial capital investment, jeans manufacturing can be initiated on a small-scale basis, Entrepreneurs can expect an approximate internal rate of return (IRR) of 21.31%.
A full-scale micronutrient manufacturing operation demands several raw material supplies smoothly. You can get all the required raw materials from the state inside.
Micronutrient manufacturing is one of the most legitimate business ideas in Gujarat to start with substantial capital investment. Micronutrient manufacturing involves an elaborate process of inventory management, production, packaging, and marketing.
#6. Mobile Car Wash
The mobile car wash is an emerging opportunity in the automobile service industry. In the five years to 2020, industry operators will continue to benefit from rising per capita disposable income, aiding industry revenue.
Furthermore, local regulations prohibiting residential car washing are expected to become more common, generating a larger client base for industry operators. The mobile car wash is one of the most profitable business ideas in Gujarat to start with moderate capital investment.
The mobile spa is a profitable business model for not only metropolitan cities but also Tier 2 and Tier 3 cities. This business provides services to the people who just can not make time in their busy schedules to allow themselves the luxury of a spa. Even if you don’t have any formal training, there are so many resources available online and in books to get yourself started.
#8. Night Club
In this business, small companies can compete effectively by serving a local market, offering unique products, entertainment, or providing superior customer service. Personal income and entertainment need to drive demand for the nightclub.
The profitability of individual companies depends on the ability to drive traffic and develop a loyal clientele. Owning and running a nightclub can be a very exciting, luxury, and lucrative business for an entrepreneur.
The pet industry is growing rapidly. People are buying more pets nowadays and spending a lot of money on them to give the ultimate comfort.
Pet lover passionate individuals can initiate pet-related business as part-time also. According to the market study, freshwater fish, cats, dogs, birds, reptiles, horses and saltwater fishes are the most popular pet globally.
The future is bright for the public relations agency. Public relations are considered as the interaction of a business with its customer base, and or with prospective customers. Public relations professionals work with print media, electronic media, and also with digital media.