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Top Small, Medium Scale Business Ideas List for Beginners,Start-Up Entrepreneurs to Start
Top Small, Medium Scale Business Ideas List for Beginners, Start -Up Entrepreneurs to Start
(NPCS Newsletter - Issue 082017)
Project Profiles of below projects can be viewed/ downloaded from http://www.niir.org/profiles/
The only way to determine if your ideas can potentially be profitable as a business and is worth pursuing further is to conduct feasibility studies. The purpose each entrepreneur should conduct a detailed feasibility assessment or study is to test if that business idea makes: Personal Sense, Business Sense, Market Sense, and Financial Sense. Without looking at the personal aspect, business concept, the market, and the financials, as well as analyzing the data and information, an entrepreneur is likely not to be successful or not as successful as s/he would like to be. A business plan is an essential roadmap for business success. A business plan provides direction, keeps you on track and is usually a requirement when you seek finance. A business plan is a formal grid map of all of your business goals, and plans on how to achieve them. Entrepreneurial skills assist Small scale industries generate growth and development of new ventures in developing economies. At the entrepreneurship development level, a key role of the programme is to develop tools and programmes that deal with the long term effects of entrepreneurial culture.
We believe that preparing a business plan is important for any business regardless of its size or nature. To make it easier here are few project profiles for planning a business:
Onion is one of the most important commercial vegetable crops grown in India. It contains vitamin B and a trace of vitamin C and also traces of iron and calcium. All onions for processing are grown from specific varieties best suited for dehydration. The main advantages of dehydrated onions are that they are easy to store, being lighter in weight and smaller in bulk than fresh or other processed onions. They are cheap to pack compared with canned goods. There are different types of dehydrated onion in the market. Dehydrated onions are used chiefly as a constituent in various food products i.e. they are sold to manufacturing concerns as an industrial raw material and demand for dehydrated onions is a function of the demand of these food products.
There is a big market in the metro cities and urban pockets. Dehydration industry can grow faster provided awareness and acceptance of such products grows in the domestic market. According to industry estimates, the domestic consumption is pegged at a tenth of 55,000 tonnes produced annually. The domestic consumption is largely driven by institutional buyers such as star hotels and restaurants. Thus, as an entrepreneur this project offers an exciting opportunity to you.
An electric motor is a device converting electrical energy into mechanical energy (usually a torque). This conversion is usually obtained through the generation of a magnetic field by means of a current flowing into one or more coils. An electric motor turns because of magnetic force exerted between a stationary electromagnet called the stator and a rotating electromagnet called the rotor. Different types of electric motors are distinguished by how electric current is supplied to the moving rotor.
Tremendous technological advancements and the need for high efficiency motors are the two factors responsible for the growth of electric motors market in the past few years. Electric motors are widely used in motor vehicles, household appliances, material handling equipment, etc. An unmitigated increase in fuel prices coupled with the need to reduce air pollution has led to an increased preference for electric vehicles in several countries. This, in turn, is expected to upsurge the electric motor market. Premium efficiency motors are expected to gain traction in near future as they are low maintenance, consume low power and have many other unique features as well. Based on type, the AC electric motors are smaller, cheaper and light in weight and are widely used in HVAC equipment. Hence, AC electric motors will dominate the electrical motor market.Thus, due to demand it is a good project for entrepreneurs to invest.
Essential oils, also called volatile odoriferous oil, are aromatic oily liquids extracted from different parts of plants, for example, leaves, peels, barks, flowers, buds, seeds, and so on. They can be extracted from plant materials by several methods, steam distillation, expression, and so on. Jasmine essential oil has a sweet and floral aroma. Jasmine is sought after for its powerful characteristics that aid the body as an anti-depressant, an aphrodisiac, and its confidence boosting qualities it has on the mind.
Tuberose flowers have long been used in perfumery as a source of essential oils and aroma compounds. Essential oils are highly concentrated, low volume, high value products. Around 200 different types of essential oils are consumed all over the world annually, and the U.S. plays a major role in overall demand. The peculiar fragrances & flavors that these oils add to any end use product such as food, drinks, therapies, etc. is considered to be a key driver. Increasing consumer disposable incomes and rapid expansion of food & beverage industries are expected to contribute to the demand for natural fragrances & flavors produced using essential oils.The major factor boosting the market growth is the increasing consumer preference for natural and organic products be it cosmetics, food or similar other product categories.As a whole it is a good project for new entrepreneurs to invest.
Virgin coconut oil (VCO) is the purest form of coconut oil. Introduced onto the world market at the end of the 20th century, it is one of the highest value products derived from the fresh coconut. It is growing in popularity as functional food oil and the public awareness of it is increasing. It is the oil obtained from the fresh and mature kernel of coconut by mechanical or natural means, with or without the use of heat, without undergoing chemical refining, bleaching or deodorizing, and which does not lead to the alteration of the nature of the oil. Coconut oil is extensively used for food and industrial purposes. The oil is rich in medium chain fatty acids and exhibits good digestibility.
The growing demand for virgin coconut oil (VCO) in the international market is expected to directly benefit coconut farmers in the State, with the Coconut Development Board (CDB) initiating steps to help local farmers set up their own large-scale VCO units. “The demand for VCO in the international market has increased considerably. This year, it is estimated that VCO exports from India would touch Rs 75 crore. Thus, due to demand it is a good project for entrepreneurs to invest.
Iron oxides are chemical compounds composed of iron and oxygen. All together, there are sixteen known iron oxides and oxyhydroxides. Iron oxides are widely used as inexpensive, durable pigments in paints, coatings and colored concretes. Colors commonly available are in the "earthy" end of the yellow/orange/red/brown/black range. Synthetic Iron Oxides have become increasingly important due to their pure hue, consistent properties, and tinting strength. Historically, the Iron Oxides market has grown at a 2%-4% per year growth rate. There have been cyclical ups and downs but over a long term, this rate holds true.
Synthetic Red Iron Oxide is a high tinting strength Pigment made by calcinations process. Synthetic Red Iron Oxide and Micronised for ease of dispersion. Iron oxides find wide application in the construction industry both directly and indirectly. The construction industry segment accounted for the largest share of the global iron oxide pigments market.Increase in the number of infrastructure projects in the emerging economies, such as China and India, offers significant growth opportunities in the iron oxide pigments market.Thus, due to demand it is a good project for entrepreneurs to invest.
Macaroni, Vermicelli, Noodles and Instant Noodles with Tastemaker
Extrusion-technology is gaining increasing popularity in the global agro-food processing industry, particularly in the food and feed sectors. Extrusion cooking technologies are used for cereal and protein processing in food. Noodles and macaroni are a form of pasta that is becoming extremely popular in India even as Continental and Italian delicacy. Instant Noodles, macaroni and vermicelli is prepared by means of an extrusion machine that is basically made of an stainless steel make strips, either flat (rolled and Cut) or Oval round (Extruded). The process is quite simple and requires not much skilled labour. The machine itself is high technology and provides the manufacturers to produce pasta with several alternatives materials (like Maida, Suji, Rava, Rice flour and so on) and in different shapes (like Spaghetti, Fettuccini, Vermicelli, Maccaroni, Fusilli, Penne, etc.) of Pasta and Noodles.
Extrusion cooking technology relatively known to our country can provide attractive varieties of snack foods, similar to traditional snack food in different tastes, textures, colours, flavours with better keeping qualities. The product can be made at relatively low cost on mass scale for socially oriented markets, to fill up the gap with practically negligible loss of protein content and excellent amino - acid make - up.As a whole it is a good project for new entrepreneurs to invest.
and Detergent (Liquid Soap Bar and Powder)
Detergents are defined as complete washing or cleaning products, which contain among their ingredients an organic surface-active compound (Surfactant) that passes soil-removal properties. Frequently the term detergent is used synonymously with surfactant but common industry practice treats the surfactant as one component of a done here. Detergent cake, detergent powder and liquid detergent are largely used in the domestic houses, commercial sectors, hotel industries, garment industries and in many other sections of the society. There is high price, medium price and low priced detergent available.
The detergent market in India is expected to have a growth rate of 7 % to 9 % per year in terms of volume. The detergent sector, with its increasing ability to influence consumers through advertisements, is rapidly expanding its market. Due to the increase in population, higher urbanization, spread of education and rising levels of income and consumption, the overall growth of the detergent market has been in double digits from last several years. There are different kinds of raw material used in the industries. There is large demand of this consumer item. Thus, as an entrepreneur this project offers an exciting opportunity to you.
Phenolic foam is a dense, lightweight and porous material that can be cut into virtually any shape. It holds its shape when wet and provides both water and support to cut flower arrangements. Phenolic foam originally appeared as a green brick. Today, it comes in various colors and a variety of shapes such as spheres, crosses or wreaths suitable for a variety of arranging needs.
In addition, phenolic foam is pH balanced. This means that the acidity of the environment which the flowers are placed in remains at the optimum level ultimately helping your flowers to last. Another important feature of phenolic foam is how quickly it will soak and absorb water. Phenolic foams have become a permanent staple in the art of flower arrangement. By providing trouble-free support for flowers, many designs have been made achievable, giving flower arranging artists more room to come up with every design that they can imagine. As we can see that there is great demand for flowers in Indian society for example wedding, Valentine’s Day, birthday, anniversary and many more events. So increase in floriculture means increase in phenolic foam business. Thus, due to demand it is a good project for entrepreneurs to invest.
India is the still by and large vegetarian in dietary habit and heavily depends upon vegetative source to meet out its daily protein requirement. India is bound to be global leader in terms of production and consumer of pulses. Since, India is leading importer of pulses; production of pulse/legume crops has been stagnant over the years.
They are the main sources of protein. The important dals in the country are Channa, Moong, Urad, Moth, turdal and Masoor, Matar etc. The pulses are used for preparing hot dishes, sweet dishes and other varieties. Pulses are the important sources of proteins, vitamins and minerals and are popularly known as “Poor man’s meat” and “rich man’s vegetable”, contribute significantly to the nutritional security of the country. India is the largest producer (25% of global production), consumer (27% of world consumption) and importer (14%) of pulses in the world. The dal milling industry in India is one of the major agro processing industries in the country. From an annual production of 13.19 million tonnes of pulse in the country, 75% of these pulses are processed by dal mills. Thus, due to demand it is a good project for entrepreneurs to invest.
Electricity play a vital role in the development and growth of Agriculture and Industry, as it is a high priority item for all the developing or developed nations. For the generation and distribution of Electricity, High Tension Insulators are an important adjusts. Insulators have very few free electrons and do not transfer electrical energy well. An electrical insulator is a material whose internal electric charges do not flow freely, and therefore make it nearly impossible to conduct an electric current under the influence of an electric field. This contrasts with other materials, semiconductors and conductors, which conduct electric current more easily. The property that distinguishes an insulator is its resistivity; insulators have higher resistivity than semiconductors or conductors. The end type insulator is used on all distribution lines and on low voltage transmission lines.
World is experiencing a tremendous expansion of industrial and real estate sectors and accompanied by a massive increase in the need for electric power energy due to the essential role of the electric power in the development and growth in all areas of life. This huge demand of the electrical power bodes market demand for large investments in the field of electric power and its support services industry. Thus, as an entrepreneur this project offers an exciting opportunity to you.
Curcumin is the main biologically active phytochemical compound of Turmeric. It is extracted, concentrated, standardized and researched.Curcumin is a water-soluble orange-yellow coloured powder.Today, India is the primary exporter of turmeric (known as haldi in India).Curcumin is one of three curcuminoids of turmeric. The other two curcuminoids are demethoxycurcumin and bisdemethoxy curcumin. Curcumin is widely used to colour many foods.Curcumin is stable in dry food. It is relatively stable to heat so it can be used in thermally treated foods.
Rising consumer health consciousness pertaining to artificial ingredients presence in medicines, cosmetics and food are major factors influencing industry manufacturers to adopt organic ingredients in their production formulation. Presence of anti-inflammatory, anti-oxidation, and anti-cancer properties in medicines and cosmetics should drive curcumin market growth. Curcumin production is mainly concentrated in India exceeding 78% of the global output. As a whole it is a good project for new entrepreneurs to invest.
Readymade garments are a part of our daily life. Clothes are an epitome of a culture. People in different parts of the world have their own styles of dressing which symbolize their culture and status. The Readymade garments industry is increasingday by day due to changes of fashion in day to day life. The textile industry including readymade garments occupies a unique position in the Indian economy. Its predominant presence in the Indian economy is manifested in terms of its significant contribution to the industrial production, employment generation and foreign exchange earnings.
The readymade garment industry in India owes its existence to the emergence of a highly profitable market for exports. Ready-made garments account for approximately 45% of India's total textile exports. It has immense potential for employment generation particularly in the rural and remote areas of the country on account of its close linkage with agriculture. They represent value added and less import sub sector. In the recent years, however, the domestic demand has also been growing rapidly. Thus, due to demand it is a good project for entrepreneurs to invest.
Non-Formaldehyde Dye Fixing Agent
Dyes and pigments are the most important colorants used to add a color or to change the color of something. They are widely used in the textile, pharmaceutical, food, cosmetics, plastics, paint, ink, photographic and paper industries. Dyes are colored substances which are soluble or go into solution during the application process and impart color by selective absorption of light.
Dye Fixing Agent (DFA) is a cationic dye-fixing agent, which improves the wet fastness of dyed or printed cotton cellulosic good on which direct reactive or after copper able dyes are used. DFA is stable in hard water. Dilute acids, and low electrolyte concentrations. It is precipitated in presence of strong alkalies and salts of mineral acids. Weakly acidic solution improves the stability of DFA towards salts. DFA is not compatible with anionic products but cationic softness can be used the same bath.
Dye fixing agent prevents the fabrics from color fading by washing, etc, by bonding chemically with unfixed excess dye on the fabrics.The imperative need of textiles in every aspect of life has been the premise for the growth of the global textile chemicals market.Coloring of fabrics, yarns and fibers is a crucial process in textile manufacturing. Textile dyes, therefore, represent an important chemical feedstock in textile production.As a whole it is a good project for new entrepreneurs to invest.
A hospitality unit such as a restaurant, hotel, or an amusement park consists of multiple groups such as facility maintenance and direct operations (servers, housekeepers, porters, kitchen workers, bartenders, management, marketing, and human resources etc.). A hotel is an establishment that provides lodging paid on a short-term basis. Hotel operations vary in size, function, and cost. Most hotels and major hospitality companies have set industry standards to classify hotel types. An upscale full-service hotel facility offers luxury amenities, full service accommodations, an on-site restaurant, and the highest level of personalized service, such as a concierge, room service and clothes pressing staff.
India has moved up 13 positions to 52ndrank from 65thin Tourism & Travel competitive index. Online hotel bookings in India are expected to double by 2017 due to the increasing penetration of the internet and smart phones. The tourism and hospitality sector is among the top 10 sectors in India to attract the highest Foreign Direct Investment (FDI). As a whole there is a good scope for new entrepreneur to invest in this business.
Pickle is a general term used for fruits or vegetables preserved in vinegar or brine, usually with spices or sugar or both. Pickle producing businesses are engaged in producing pickle in different varieties. Natural fruit and vegetable items are used as raw material for producing various types of pickles i.e. mango, beet, cabbage, cauliflower etc.
Pickling is one of the oldest methods of food preservation. Indian pickles play an important role in fruit and vegetable preservation industry. Among the Indian pickles the ones from mango are very popular. As such mango pickle prepared with oil is stored for a long period; it loses texture and becomes soft which is not acceptable by the consumers. Further, it is difficult to carry pickle which is oily. Modernization has leaded to lack of time and there is a need for convenience food for working people. There is very good market demand of mango pickles. This is manufactured by some well-organized sector as well as many unorganized private tiny and small scale sector. Market demand almost increases by 3% per annum which is actually population growth rate. There is very good export demand in the European countries as well as in the Middle East Asian countries. Thus due to demand it is a good opportunity for entrepreneurs to invest.
The mosquito repellent consists of a liquid mix that gets converted into vapors on moderate heating. These compounds vaporize without decomposition on heating at temperatures up to 400°C and produce varying repellent action on the mosquitoes, depending on the type of product and species of mosquito. It is largely used in the domestic and in the commercial sector for mosquito repellent.
There is very good market of this type product throughout the year, though there is competition in the market. Though the process of manufacturing is high technology base, but in India Technology is available. Basic plant machineries are available in India. According to India Mosquito Repellent Market Overview, India's mosquito repellent market is anticipated to increase at a CAGR of 6.58% over five years. GCPL, Reckitt Benckiser, and SC Johnson India are market leaders in the mosquito repellent market. India mosquito repellent market is segmented into various categories such as coils, liquid vaporizers, sprays, mats, creams & lotion, paper and others. As a whole there is a good scope for new entrepreneur with manufacturing of good quality of product.
Chili is one of the abundantly domestically used as well as commercially used spices. Chili can be commercially exploited for extraction of chili oil and oleoresin afterwards it can be ground in Chili powders as used ground chili spices. For extraction of chili oil and oleoresin, there will be use of solvent extraction process or steam distillation process.
Chili oil is an infusion of chili peppers in a base oil like sesame oil. It is a condiment commonly used in Chinese and Korean cuisine. Chili oil can easily be prepared at home and enjoyed with the dishes. It is generally reddish orange in color and tastes like chili peppers, although slightly less intense. This makes it ideal as a sauce or dip for many recipes.Chili oil can also be used for various healing purposes. Oleoresins and spice oils have large domestic as well as export markets. They are consumed by a broad spectrum of manufacturers like confectionary, noodles, beverages, sauces, canned meat, soup powders, curries, poultry products and so on. Most of the end use industries are growing steadily and demand is bound to increase. With increasing preference for quality products, use of spices is rapidly replaced with oleoresins and spice oils. Thus due to demand it is a good opportunity for entrepreneurs to invest.
Market Survey Cum Detailed Techno Economic Feasibility Report on above projects can be had from NPCS
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