Best 30 Small Business Ideas in Mumbai for 2023

Are you searching for top business ideas in Mumbai? Mumbai (formerly known as Bombay) is not only the commercial capital of India but also one of the world’s top 10 centers of commerce in terms of global financial flow. As a matter of fact, Mumbai is India’s richest city and has the largest population & the highest GDP.

Mumbai accounts for 70% of the country’s capital transactions and has recently been named as one of the World’s premier global cities or ‘Alpha World City.’ Mumbai is ranked as the fastest-growing city in India for business startups and is considered a city full of opportunities.

30 Small Business Ideas in Mumbai

1. Real Estate Agency

The city of Mumbai is one of the busiest cities in India and the demand for proper accommodation is always there. If you have good networking skills and understand the local property market, running a real estate agency can fetch good returns.

2. Start a Food Restaurant in Mumbai

It is a known fact that people in Mumbai love eating out. Though the market is competitive, still if you can come out with some innovative approach, there is still a wide scope for running a profitable food restaurant in Mumbai.

3. Travel Agency

Mumbai is the commercial capital of India. People from all across the world visit the city throughout the year. In addition, there are a lot of tourist destinations in and around the city. Hence, starting a travel agency is a potentially profitable business opportunity in the city of Mumbai.

4. Freight Forwarding Agency

Freight is a big business in the transportation sector. If you have some experience in freight forwarding activities, consider starting a freight forwarding agency business in Mumbai.

5. Stock Broking

If you are looking to start a finance-related business with a small investment, stockbroking can be a good option. Initially, you need to register a sub-broker with an authorized stockbroking company.

6. Security Agency

Most business houses and residential complexes in Mumbai hire security professionals for safety and security needs. If you have some knowledge about this trade, the security agency can be a profitable business venture in this part of the country.

7. Open a Coffee Shop in Mumbai

Most Mumbaikars love having coffee at coffee shops. There are many reputed brands that are catering to the demand here. Still, the market is big enough to accommodate new players in this sector.

8. Recruitment Agency

Most business houses in India are headquartered in the city of Mumbai. There is a big demand for skilled personnel for different job profiles. If you are good at networking, consider starting a recruitment agency in this city.

9. Start an Event Management Company in Mumbai

Mumbai is a 24/7 city and numerous events happen throughout the year. If you have some experience in event planning, the event management business can bring in good profits.

10 Fitness Center

The business of fitness and Yoga has multiplied in this city for the last few years. The health-conscious people of Mumbai are always on the hunt for expert fitness trainers.

11. Interior Designer

Real estate is costly in this city. It is quite obvious interior designers make lots of money here in Mumbai. If you have a passion for decorating interiors, consider starting this business.

12. Mobile Repairing

Like any other city in India, Mumbai has also seen a huge increase in sales of mobile phones. Take a crash course in mobile repairing and tap the big market of mobile repairing.

13. Car Dealership

If you are an automobile enthusiast and looking to start a retail business in this sector, a car dealership can be a profitable option. If you are in a shortage of funds, a used car dealership is another option.

14. Open a Beauty Salon in Mumbai

Though the beauty salon business is competitive, if you are confident of your expertise, there is always a scope for becoming successful in the salon industry as the market always looks for new and innovative products and services.

15. Start a Preschool Business in Mumbai

Most parents in Mumbai look for good quality kindergarten schools that can help in getting admission to reputed schools in Mumbai. You can also buy a franchise of a reputed preschool franchise brand.

16. Actor’s Photo Portfolios

If you are a very good portrait photographer, you can start the actor’s photo portfolio business of your own with minimum investment and even on a part-time basis. The market is wide and anyone can be your customer who wants to set a career in the entertainment industry.

17. Ad Film Making 

If you have knowledge and skill in videography, then ad filmmaking is a wonderful entertainment business opportunity for you. in every product or service promotion corporate houses depend on ad filmmaking agencies.

18.  Comedy Club

Comedy clubs are generally very popular entertainment venues among people of any age. You can initiate this business in two ways. One is from a fixed location which is much more cost-intensive. And the second one is the mobile basis and on-demand.

19. Modeling Agency

A modeling agency generally provides people of various appearances, shapes, sizes, races, etc., who are used to promote or display a product or service for paying a client. If you have very good contacts, you may start this business with small startup capital.

20. Buffet Restaurant 

Buffet-only restaurant is one of the most trending food business ideas. People always love to have a meal according to their own choice and enjoy selecting from many options. The right location and proper marketing strategy are important in starting a buffet restaurant.

21. Organic Food Store

In starting an organic food store business most important consideration is the store location. Like any other retail business, the right location is the main parameter to get success in the business. With the increasing awareness of healthy living, people are more interested to take organic food though they are more expensive than non-organic food. The retail organic food market is an emerging trend and it is growing by 20% every year.

22. Nutrition Coach

Increasing awareness about health among people creates a demand for a nutritionist. As a nutritionist the main service you will be rendering is, helping them as diet coaches to live longer with good health.

23. Ice Cream Stand

For a metro city like Mumbai starting an ice cream stand or kiosk is a very profitable idea to generate handsome income. You can also run this business on a seasonal and part-time basis. A mobile ice cream stand is more profitable than a fixed location comparing the ROI.

24. Computer Training Institute

The computer training institute is an ideal business opportunity for aspiring computer-savvy professionals. Running a computer training institute with some other value-added services can be a profitable and self-rewarding business. The only criteria are you have to be knowledgeable enough about computers and the internet.

25. E-commerce & SEO Consultant

Nowadays every small and big business is looking to tap the internet audiences to sell their product or services. Individuals having expertise in online marketing, e-commerce, and e-communications may start this business from a home location.

Home Business Ideas in Mumbai

26. Start a Blog

If you are looking for a legitimate income source online from the comfort of your home, starting a blog is without saying a good choice. There are many bloggers in Mumbai earning millions from blogging.

Learn More: How to Start a Blog & Make Money

27. Freelance Writing

The business of freelance content writing has seen huge growth in the last few years. If you have a passion for writing, a career as a freelance writer can fetch good returns.

Learn More: How To Get A Freelance Writing Job

28. Open an Online Shop

As more and more customers are buying goods and services online, the business of online shops is growing. If you are into manufacturing or have a network of manufacturers, launching an online shop can be a lucrative business in Mumbai.

Learn More: How to Start an Online Store With Low Investment

29. Create Online Courses

The education industry is observing a lot of changes. More students prefer learning online. If you are an expert in a certain subject, create online courses and promote them through your own website or through platforms like Udemy.

Suggested Read: How to Create an Online Course

30. Start a Dropshipping Business

Dropshipping business is slowly getting momentum in this part of the world. The advantage of dropshipping is that you don’t have to stock inventories. As a result, the startup investment is low.

Learn More: How To Start A Drop Shipping Business

Mumbai is one of the best places to start a business in India. If you have the dedication and the right business idea, there is no reason not to become a successful entrepreneur in this city. Find the one which suits you most and start your business in Mumbai right now.