10 World Best Business Opportunity in 2023 – Forbes Advisor INDIA

Many dream of being a successful businessman. However, the idea of investing one’s life savings in pursuing a dream can be risky and unsettling. There are many business opportunities in the market that you can start with minimal investment, and with a solid strategy you can also earn high returns and succeed in making a business. 

There are estimated to be around 334 million businesses worldwide. Thus, you must have a unique business approach to succeed in the industry. Forbes Advisor India has put together 10 small investment business ideas that could help you to make a wise business choice for yourself and make your business grow.  

Best Business Opportunities in the World To Start Right Now (With Minimum Investment And Expected RoI)

Coming up with business opportunities is an easy task but identifying which suits you the best is challenging. It is very important to understand the business exposure, the capital to invest in and the expected returns before you jump on to any business plan. Below are a few business opportunities in the world that you can start right with minimal investment:

Cloud Kitchen

Tiffin services in India are very well-known and have been running successfully for years. For the time being, online delivery services like Swiggy and Zomato took over the market but with cloud kitchens, it became easy for all the homemakers to utilize this to their advantage. 

All the lovely homemakers that give you a glimpse of “maa ke hath ka khana” can use cloud kitchens (commercial kitchens) to accept food orders via calls or online portals. The estimated investment to start a cloud kitchen business can be within INR 1 lakh. 

Digital Marketing Agency

Starting a digital marketing agency is one of the best business ideas with minimum investment and high returns. It can be a joint venture with the partner being equally knowledgeable in the field of digital marketing, graphic design and content creation or can be a solo business. 

The initial investment can be in marketing tools, software and other setup to promote a business online. Small investments can include a laptop, licensed editing software and paid marketing tools. The estimated investment to start a digital marketing agency can be within INR 80,000.

Affiliate Marketing

Affiliate marketing is a lucrative business as it needs to promote popular brands on its website. Those who don’t have a website or a blog can also engage in affiliate marketing by just signing up for an affiliate program like the one Amazon offers. 

The affiliate marketer earns on a commission basis, each time a product or service is purchased from one of the marketing links through them. The commission can be as low as 1% to as high as 20% or more depending on the referral volume and product. The estimated investment to start affiliate marketing can be within INR 3,000. 

Dropshipping Business

Dropshipping is yet another easy and low-cost business idea to start. It is a fulfillment model where a third-party supplier on your behalf, stores and ships inventory to customers. It is one of the best choices for business ideas because of its low overhead, scalability and hands-off. 

Dropping is a great business with the potential for high growth. It does not require much initial investment so you need not need to worry about storing and purchasing goods. You can directly sell the products to customers ordering from multiple retailers. The estimated investment to start a dropshipping business can be within INR 10,000.

Website Designing

Website designing can be an amazing low-budget investment business idea. A website is a much-needed source of information and marketing in today’s business world. Every business needs an online presence and websites are the way to do that. If you like designing a website, you can make a business out of it and help businesses create a great website to attract their customers. 

Make sure your company has a proper business objective, a unique design niche and valuable rates. Have a well-established portfolio to attract customers and testimonials. The estimated investment to start website designing can be within INR 30,000.

Freelancing

Freelancing is another brilliant way of selling your skills and earning from various sources at once with absolutely zero investment. There are various options available for freelancing some include content writing, graphic design, financial advisors, photography, social media marketing and web designing. 

To do a freelancing business you do not need a fancy workplace or any heavy investment just a laptop and the tools necessary for starting your own business. You need an awe-inspiring portfolio and time to start a freelancing business. 

Event Management Company

In a busy dynamic world, planning an event on your own can be a challenging task. Hence, people tend to hire event planners to make their jobs easy and for them to be able to enjoy the events be it concerts, weddings, birthdays or retirement parties.

Event management companies generally manage big events but you can start a business with a small-scale investment by taking orders at a small level like school or college events. Later, you can expand your business by accepting large orders. The estimated investment to start an event management company can be within INR 50,000.

Clothing Business

People always run out of clothes even if they have their wardrobes full of them. Starting a clothing business is a lucrative business idea. You can start by selling printed t-shirts and the printing machine is available for a few thousand rupees in the market. 

If you’re a fashion designer and have a good eye for fashion, you can sell your own creations and allow customers to customize their clothes. Another thing you can do is purchase clothes from wholesalers, fix a label and sell them on your website. The estimated investment to start a clothing business can be within INR 50,000.

Photography/Videography

Photography and videography is an old business idea that has evolved with time. Have a creative eye for capturing moments and skills and techniques used to operate a camera then this is the best business idea for you. Nowadays people love to document their happiest moments, so, make an impressive portfolio to attract customers and add videography samples and additional Instagram reel samples. 

This business does not require a huge investment but requires you to have a high-quality camera, basic tools and editing software. Once you set up your business and have made a fair amount of profits start investing in your own drone and other heavy camera tools. The estimated investment to start a photography/videography business can be within INR 80,000.

Fitness Classes

Starting a fitness business is again a low-budget business idea. You do not necessarily need a fancy place to start this business, you can simply conduct your fitness classes on a terrace, playground or lawn. 

You can reach out through social media or fitness channels to spread your business. The fitness classes can include yoga sessions, zumba sessions or any other physical activities to keep fit. You can also conduct online fitness classes too. The estimated investment to start fitness classes can be within INR 10,000.

How To Identify New Business Opportunities

With an underlying understanding of the types of business opportunities that exist in the market. It is very essential for your business growth and survival. Opportunities are elements that contribute to your business’s success. Here are a few ways you can identify a new business opportunity:

Market Analysis

Before deciding on a business idea, make sure you conduct market research. Market research will help you understand whether your business idea is workable or not. Conduct industry research that will define the competitive landscape along with determining the audience for your business. 

Observe and analyze people, take interviews, fill out survey forms from them, take feedback, and more. All these will provide you with a deeper understanding of your target demographics. 

SWOT Analysis

The term SWOT breaks down into strengths, weaknesses, opportunities and threats. A SWOT analysis will provide you with valuable details about your business and help you identify a new opportunity and prospect that can be potentially utilized. 

For instance, if your analysis shows that changing market trends can be an opportunity for your business then respond to it by altering prices, introducing new products, adapting your advertising or building customer relationships. 

Questioning Process

Additionally, you can identify a business opportunity by digging into the processes and delivery methods of your existing products or services. Have an open mind while analyzing it and come up with practices that can improve your business. Ask questions like:

• Can the procedure be executed with a much cheaper business model?
• Could the procedure be faster?
• Can the process be accessible to all?
• Is there any more sustainable way to perform this process?

You just need to recognize the innovation potential of your business.