We Indians have come a long way in the last several decades, from buying a simple grocery item at the local store to purchasing big goods online. Whether buying medicine, eating food, or taking lessons, the public has turned to the online platform.
The shift in client preferences has created an opportunity for e-business. Whether you are an aspiring entrepreneur with limited funds or a 9-to-5 employee who wants to pursue his passion of starting a business after work, the internet always has an alternative for you.
Let’s discuss some of the best e-business ideas in India, but before that, we will discuss the advantages of running an e business.
Benefits of E-Business in India
1. Lower Cost:
An online business does not require substantial funding. You can operate it from home with a laptop, internet connection, and a business registration.
You don’t need to spend heavily on a brick-and-mortar setup. You also don’t need to spend a lot on hiring a staff.
2. Global Market Access
Your business is not limited to a specific geographic location. By targeting customers worldwide, you can significantly expand your market reach.
3. Flexibility:
With an online business, you are not confined. You can choose your own working hours and work from anywhere, provided you have good internet connectivity.
4. Profit Margin
In a business, the company pays most of its revenue on meeting day-to-day expenses, but online, with bare minimum staff, low utility expenses, and rare inventory maintenance requirements, the profit margin for this type of business is higher.
5. Easy Funding
From NBFC to bank, all readily offer online businesses financial assistance. However, to get approval, you need to meet certain eligibility criteria. This may include minimum annual turnover and 1-2 years of business experience or at least a year in the current company.
Best E-business Ideas in 2024
1. Online Bakery
Do you have a knack for baking? If so, an online bakery is the best e-business to try. To start this business, create a website and post some of your beautifully baked cakes.
Start with mouth-to-mouth marketing, then level up your game through social media platforms. Offer customized cakes for different occasions. Complement the order with a small gift such as chocolates or flowers.
2. Create an Educational Platform
Online learning is becoming more popular in India. You can create your own educational platform and share your knowledge and skills with others.
Depending upon your expertise, start online courses, run a workshop on some skill training, or conduct a podcast.
You can create your educational channel on YouTube, Instagram, or some already existing platforms. If you have funds and are ready to devote extra time to video publication, create your own application with a simple user interface.
3. Sell On-Demand Printed Products
On-demand printing is a low-cost and low-risk method for selling personalised products online. You can work with a print-on-demand service provider who can manage the printing, fulfilment, and delivery of your products.
If you are wondering what you can offer, consider t-shirts, mugs, posters, stickers, and more.
4. Consultation Services
This is a bit more professional. This is an excellent business opportunity if you are a chartered accountant or a lawyer.
For example, if you are a chartered accountant, you can engage with your target audience online and assist them with filing returns.
You can even start this service as an architect or interior designer. You can provide the 3D structure of a building or its simulated interior online. You only need to visit the site once your customer has approved the design and paid a token fee.
5. Digital Marketing
Digital marketing covers a wide range of services. You can provide content writing services, assist clients with website audits, resolve bugs, analyse content gaps, and perform SEO for some sites to help them rank higher on Google, which can ultimately help them generate sales.
To start this business, you need knowledge and a creative knack.
Conclusion
In an era where consumers turn to online platforms for everything from day-to-day shopping to purchasing expensive products, you can’t ignore the possibilities of e-business. This business provides flexibility, requires minimum investment, and has a high profit margin.
