10 Small Business Ideas in Mumbai

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26 Feb 2020, Mumbai- Mumbai is the second-most populous city in India and the seventh most populous city in the world with a population of 19.98 million. It is known as the wealthiest city in India and has the largest concentration of billionaires and millionaires. It is also more famously known as financial and commercial centers, as well as the entertainment capital generating 6.16% of India’s GDP.

Why Mumbai is Ideal for Startups

Because of its rich history, culture, and economic development, Mumbai has fast become a multi-cultural and multi-ethnic city with a diverse population of people from all over the world. This naturally has opened the city and its people to many small scale and unique business ideas to fund the fast-growing demands of the city. In this article, you are going to get a glimpse of the top 10 small scale business ideas or startups that would work very well in a place like Mumbai without high investments.

Top Ten Startup Ideas in Mumbai

  1. Head Hunting Agencies – Mumbai being the financial capital with a huge population, calls for a lot of job opportunities. As such, several large-scale corporations, as well as small businesses, are always on the lookout for the right employees. Starting a head-hunting agency to match the right employee to their desired job and vice versa is a successful business idea that requires low investment but a lot of effort.
  2. Real-Estate Consultant – Mumbai is very densely populated, and people living in the city always have a hard time finding the right property at the right prices. With a growing demand for real estate and rentals, starting a real estate brokerage firm is a good option. Charging a low commission can bring in handsome earnings.
  3. Delivery Services – Since Mumbai is so spread out, people rely on delivery services, whether it is for groceries or other things. Starting a small-scale delivery service for groceries, eateries etc. can be a good investment.
  4. Education Consultancy – With a huge number of students opting to study abroad, starting a consultancy that helps students get into foreign universities is an excellent option with low investment. It can also include guidance and advice on applications as well as extend itself as a coaching center for foreign entrance exams.
  5. Teaching English – A large number of locals, as well as the working class, would opt for a good English coaching center. This not only helps them get better job opportunities in a city that is constantly evolving but will also help you earn handsomely.
  6. Blogging – Mumbai, with its rich cultural diversity, has a lot to offer to any blogger. You can pick any topic on the city that interests you and start a free blog or website to begin with. It is a low investment opportunity that can attract thousands of followers. However, it does take a lot of dedication and time.
  7. Event Management – Every major metropolitan city has a growing demand for event managers to organize parties like birthdays, weddings, corporate events, etc. Because of the fast-paced life, no one has time to organize events and coordinate with various vendors on their own. Starting an event management company in a city that is full of entertainment can make you very successful. 
  8. Become an Expert Trainer – If you have any skills or talents in fields such as Boxing, Painting, Dog Training, Cooking, Photography, etc. you can hold short courses for students and adults wanting to pick up a new hobby or skill. This needs very low investment and can keep your business running with only a handful of clients.
  9. Interior Designer – If you have a flair for creating beautiful spaces, then starting and an interior decorating firm is for you. People in Mumbai are always looking to recreate or decorate their spaces in the most fashionable yet practical way possible and this business could be extremely lucrative for you.
  10. Digital Marketing – If you have any experience in social media and digital marketing, you can start a small-scale business right from your house! The constant demand for social media with every business creates a lot of competition in the market. If you price your services right, you can end up with a fast-growing and highly successful business.

Besides these top ten startups or small-scale business ideas mentioned, there are other ideas that deserve special mention. These include web or graphic designing, Beauty salon, makeup artist, stylist, PR firm, restaurant or café etc. As you can see, Mumbai being a land of opportunities, it is easy enough to start a small-scale business from the comfort of your own home. There are several options available both online and offline to help provide a startup loan in Mumbai to get you started with your ideas. Being the financial capital, if your startup kicks off, then perhaps you could also expand your business by applying to Venture Capitalists for funding. Getting a business loan in Mumbai is not at all difficult. There are many online players today who offer no collateral loans with minimal documentation. 

Why Mumbai is the Right Place for a Small-Scale Business
Financial Capital
  • Many opportunities for creating solutions to existing financial problems
  • High disposable income
  • People are always looking for jobs
Entertainment Capital
  • Several job opportunities available in the entertainment industry both directly and indirectly. 
  • For example, you could start an online business as a stylist.
Online Startup Opportunities
  • Lack of spaces and high turnover have created many online startups that serve the needs of the people in many different sectors.
Real Estate Opportunities
  • Real estate is always in demand as well as architecture, interior designing, etc. There are many opportunities for a startup in this sector.

Starting a small-scale business can perhaps, in the beginning, feel like a daunting task. If you have a friend or a partner who shares similar interests, it is always good to have company and support on board. Mumbai is a land full of new buzzing ideas and unique opportunities. One just has to think outside the box and come up with a solution to an existing practical problem and such ideas are the ones that convert into successful startup ideas. As mentioned earlier, do not put your thoughts on a back burner just because you might be constrained financially. Startups require low investments usually and getting a business loan for a startup in Mumbai is a very easy task. All you need to do is have the will, determination and the right idea at the right time to launch your idea.