Business ideas in punjab, and for young entrepreneurs punjab is one the most preferable location because of the infrastructure and facilities provided by punjab.
what makes Punjab the best business hub for young entrepreneurs is its solid transportation system and strong connectivity, for that reason Punjab has nearly more than 194,000 small scale industries with over more than 586 large and medium scale units.
wherein the best business industry space in punjab are Dera Bassi, Ludhiana.
Before jumping into business ideas in Punjab let’s see some facts related to Punjab and what is cover in this article.
Facts For Business ideas In punjab.
Punjab is India’s fifth India’s largest state economy with over ₹6.44 lakh crore Of GDP and a per capita GDP of ₹155,000 which is a bit more than the national average.
The majority of Punjab’s economy depends on agricultural-based businesses since the green revolution and the availability of water and fertile soil is what makes it possible for farmers to grow their agricultural businesses.
despite of being a small state in india, punjab provides 15–20% of total wheat production in india and 12% of rice production, a total 5% of ilk production.
Punjab is also known as India’s breadbasket of india.
the agricultural based business in punjab is owned by jat community ( almost 85% ).
Now let’s talk about some profitable business ideas in punjab.
Business Ideas In Punjab
Food and agro-processing-
food and agro-processing is a profitable business idea if start properly, according to a study, the profit margin in this industry was 22.05% in 2019 and it will continue to rise in the coming years. but what are the food and agro-processing business?
Food and agro-processing can be treated as a manufacturing business idea in Punjab that mainly produces raw materials like usable food and livestock such as fibre, raw food items, fuel or industrial raw material.
this can be a great business ideas in punjab villages.
there are various kinds of food and agro-processing business ideas in punjab that you can start with such as:
there are almost more than 6700 retail bakeries in the united states alone, per retail bakeries generates $450,000 a year and you combine them all that makes up to $3,000,000,000 a year and that’s huge.
To generate such an amount of revenue you need to manage your business with proper planning, right marketing strategy and you have to chase realistic goals.
according to U.S. Bureau of Labor Statistics a average baker makes around $27,700 as median wage, with that i hope you cen get how bakery is a profitable business idea in punjab.
Things to include in your bakery business plan:
- Your financial projections.
- Your business offerings must be better than your existing competitors.
- well organized management.
- You must have a good online presence.
- Market analysis.
- Good marketing and public relations strategies.
- A good team of staff and executives.
Overall bakery manufacturing can be a profitable yet low investment business idea in punjab that you can start.
It is not very difficult to earn profit from biscuits and cookies manufacturing if you sell hundreds of them at once. A small scale buscui manufacturing can generate 50k per month easily.
Just think is there any single house in India where there are no biscuits? hardly you will find some, but a majority of them enjoy biscuits every day, with that now you can imagine how big biscuit manufacturing industry is, for example, the net value of Britania alone is 4039 crores.
Now let us see what it takes to create a successful biscuit manufacturing unit:
- Determine and finalize your product and what you will offer to your consumers.
- Try and conduct in-depth market research and find out how you can offer something better to your consumers than your competitors.
- Create a thorough business plan that will include Plant and Machinery, manufacturing building, working capital, area, Furniture, etc.
- Apply for business registration and Licenses.
- get the required types of machinery for biscuit manufacturing.
- Arrange proper and quality raw materials.
- Check for the quality of your biscuits.
- Build an online presence.
- Start running ad campaigns are proper marketing.
with that said biscuits manufacturing business idea can be a profitable opportunity in punjab.
as we mentioned above that Punjab alone contributes over 15%-20% of total wheat production in India, and you can think how profitable it is to start a flour production business in Punjab.
you may think that there are already many flour producing mills in india, but you can still make profit by manufacturing high quality flour and the best part is that punjab is the major wheat producer in india that can help you to process them in cheap rate.
( Fact- flour production market size was 49.65 billion dollar in 2016 and it is expected to grow 78.00 billion dollar at a rate of 7.82% CAGR )
wheat production or chakki atta is a profitable business idea if you start with proper planning and some basic registrations and licences required to start.
initially you don’t need to set up a huge plant, you can start with small or medium scale manufacturing.
Steps required to start flour production business:
in general you don’t need large area to get started just a place where you can store your raw materials and keep your flour milling machines.
- Get your business registered and necessary License to get started, such as GST Registration, trade Trade License, MSME/SSI Registration, FSSAI, IEC code
- raw material for floor manufacturing.
- machine buying expenses and other costs.
similarly, there are other manufacturing business ideas in Punjab available such as Fruit Juice Production, Wine Making, Noodles Making, Palm Oil Processing, Paneer And Cheese Production, and more…
as we mentioned in our previous article, that blogging is a very business ideas, if you don’t have enough investment to get started then blogging is your way to go.
blogging can be profitable online business idea in punjab that you can start today with a minimum cost of 1000 rupees or so.
to get started all you need is a domain and a hosting service then you are ready to go, you need to create great contents that are useful for users search on google, for that you need to know keyword research and SEO knowledge.
Once you are good with that your blog will start ranking on google and will receive traffic/website visitors and by Monetization those visitors you can earn money.
When it comes to earning money, there are lot of ways by which you can make money such as:
- By using ad networks such as Google Adsense.
- Create your own books and courses.
- Became an affiliate marketer.
- paid membership plans.
- Sponsored ads.
- offer consultancy.
- collaborate with other brands and promote them.
with that said blogging a profitable online business ideas in punjab if executed with proper knowledge and planning such as:
- Domain name.
- SEO knowledge.
- Content writing.
To help you further i give you some links below to get started:
if you check these reports, you will realize that the automobile is a billion-dollar business model, now imagine if the automobile is a billion-dollar industry then how much you can make by repairing them!
shocked right? yes according to a survey a large auto repairing body part shop make around $100,000 per year! and if you consider machine repairing as well then you can make $30,000 and $50,000 per year.
this income of course depends on your level of expertise and your location.
but what exactly you have to serve your customer as a automobile service ?
an automobile service center repair or replace different parts of an automobile such as brakes, transmissions, automotive air conditioner repairs, Installation Of Gadgets And Much More, Later On, You Can Include Car Washing Services As Well To Make Some Extra Profit.
some of most profitable automobile business ideas you can start with are:
- spare parts distribution.
- tire selling store or tire repairing store.
- Mobil change or machine repairing.
- battery Reconditioning.
- car washing or normal servicing.
the automobile sector is a low investment and highly profitable business idea in Punjab that you can start. to know more about the automobile industry in India check here.
Online Fashion Boutique-
I can tell you that in the next five years the online fashion business will boom, even it is said that this business model will hit more then 700 billion dollars in 2022.
the best part about this business model is that you can target both middle and above middle class customers and increase your sales everytime.
but remember selling product online is a different thing and selling for profit is a different thing, you have to be organized with your business planning.
research conducted by marketingsherpa says eCommerce stores that operate revenue under $100,000 has a 30% median gross margin.
as i said earlier fashion is a tending business idea across the globe but that doesn’t assure you quick success, to be successful you need to follow some important steps and your business strategy also how you are marketing or promoting your brand, remember branding and marking is the soul factor in fashion business.
lets follow some quick steps to make successful fashion business in punjab:
1 ) select your online store niche– yes you have to very specific while starting out and after you successfully conquered your niche then you can start expanding.
choosing your niche can help you a lot as a business owner, you can start building your marketing strategy around your product and can build a attractive website around it,
choosing your niche can help you a lot as a business owner, you can start building your marketing strategy around your product and can build an attractive website around it and other advantages such as:
- help you to identify your, potential buyers.
- help you to create an attractive and customer-oriented product category.
- help you to create a proper marketing strategy.
- limit your competition.
- helps you to create your authority.
- helps you to gain customer loyalty.
2 ) select your good quality products– once you are done with your niche selection, you are ready to sell products but which one? half tees or full dresses, as we all know that fashion segment is huge and I don’t want you to get confused between what to sell and what to not, so to avoid that situation you need to select your products in before hand.
3 ) choosing your business model is essential- you have to choose your, business model, from the beginning as well such as you will go for print on demand, Dropshipping, private label, or your own brand.
4 ) create a good business plan and execute it properly– before you jump into it you need to check your scenario such as how well your product as compared with your competitors, how big your market is, who is your biggest and direct Competitor, your USP and so on…
5 ) create your online store– after you done with all the required processes, then you need to moved ahead with creating your online store that is your ecommerce website.
you can create your e-commerce on your own by using WordPress or Shopify, or you can hire a website developer who can build one for you. a good website is crucial for your online success and also for your customer engagement.
6 ) launch your online store– after you created your eCommerce online store successfully it’s time to launch your website in front o your audience so that they can visit your online store and buy products from you.
7 ) bring customers in online store– After everything, you know that your main goal is to bring customers into your online store so that they can purchase products and you make profit.
so to bring customers to your online fashion store you need to take the help of social media channels, google ads, and other forms of marketing strategies such as SEO1, growth hack, and more.
overall fashion business ideas in punjab is profitable yet low investment business ideas for beginners.
Mobile app developer-
The mobile application industry is booming and if you calculate the size of this industry you will find it is more than 100 billion dollars as of 2020.
Today it is surprising to say that mobile application development is the most promising sector, with high-income growth opportunities.
there is no limit to earning if you are ready to create something important for example:
the top 200 applications earn near $82,500 daily, while the top 800 applications earn near $22,250 daily and the other average apps make around $3,090 on daily basis.
also according to recent statics, it is found that an average of 25% of IOS developers and 16% of android developers make around 5000 dollars in a month with their free apps.
You can earn more or less depending on your earning strategy.
Ways To monetize your application:
- Advertising, put ads in your application using ads partner such as AdMob.
- Sponsors or partnerships with other brands.
- In-App Purchase.
- a free-premium version of your application.
- strong and unique content.
these are the following ways by which you can monetize your application and make money from it.
to get started you can take verious courses on android/IOS development that will help you to create and launch your first application.
before getting started with web designing business idea, let me tell you a fact that ” the web developers and web designers jobs will grow at the rate of 8% from 2019-2029. ” this 8% growth is much higher then any other profession available.
this demand is basically for the increase in the number of mobile users and e-commerce trend.
definitely web development and web designing is one of the profitable business ideas in punjab, but you have to careful while setting your gigs or approaching you business owners.
in your initial days, it is recommended that you start from your local areas, once you got to know your service and what problems you are facing, once you know your problem improve it quickly, and then expand your reach.
How to start a web design business in Punjab-
- Equip yourself with the required knowledge to become a developer or designer.
- Build your online presence.
- Create an attractive website.
- Showcase your portfolio.
- Create your support team.
- Create your service plan.
- Write and plan a thorough business plan.
- Get your business registered and go through all legal requirements.
- Create your email and proposal template.
- Advertise your brand.
- get your first client.
these are some of the steps that you can follow to create a successful web designing business in Punjab.
Creating coaching business ideas in Punjab is both profitable yet requires low investment.
but creating a real coaching business is not so easy as it seems, you have to maintain some rules and need to follow them to be a successful teacher or mentor.
as we all know that we are living in a competitive era, where students and professionals are competing with each other, and if you are able to create a private coaching environment then that will be a successful education business for the long run.
unlike any other profession teaching is respectable profession and it is a great way to enhance and enrich the young mind of the nation.
To be able to generate a successful teaching business ideas in punjab you need to stay ahead in the competition, and to do so follow these steps below:
- Evaluate your personal branding so that people will know you as a good teacher, work on your personal branding.
- After some time, create your own coaching institute, start small and then expand by hiring other teachers.
- if you don’t want to start your own business, you can take a franchise of some other well-known reputed institution.
- Create a well-defined business plan.
- Determine what teaching services you will provide.
- Define how you will make money and then set your pricing models.
- Publicize your service across social media channels and if needed start running a google ads campaign.
- After getting started, start improving your services.
If you can follow these steps then you will be able to create successful teaching service business ideas in Punjab.
as we mentioned in our previous article, that event management is real deal to earn limitless about of money if you play it right!
event management is not new in the market but to make a profit you need to know the proper planning and strategies.
event management is a billion dollar market with a annual growth rate of 10% and its worth is more then 10 billion dollar market share.
There are 5 c’s you need to know before entering into the event management business that are:
according to Goldblatt’s Research event management business is growing at a fast face with increase in profit margins.
you need to follow these steps to successfully launch your event management business.
- Gain some level of experience or expertise.
- conduct market research and analyze your competitors.
- create a well defined business plan.
- define your service.