If ever there was ever a more opportune time to start a business that capitalizes on the purchasing power of the young Indian generation, it is now.
Here are a few business ideas that ideally capture the purchasing power of young India.
1.Coffee Shop/Hangout Zone.
Start a coffee shop or a hangout zone that serves as an ideal space for the youth to hang out and relax. The overall ambiance of the place and its décor, quick service and friendly staff members are some of the variables that would play an important role in getting people to flock to your place. The key is to innovate and add a lot of ‘coolness’ to your space. Introduce varieties in your menu… don’t be afraid to experiment.
Tip: Stream live sports events or get some live music on weekends. Also be active on social media.
2. Food Truck.
In modern cities most of the large offices are located in defined zones. This means one thing for you…. thousands’ of hungry office goers all at one place. Take your food truck to these designated ‘zones’ during lunch and dinner hours and serve hot and fresh meals to the hungry office folks. Make sure however, that your service is super quick and the pricing is reasonable. Also, take special care to ensure that the quantity served is adequate. Do not forget to include desserts, ice creams and beverages to your menu to add to that lingering aftertaste.
Tip: Park your food truck outside major schools at the end of school hours and see children flocking to you for a treat.
3. Playschool and Child Care
In most of today’s super nuclear families, both the parents are working. This leaves them with a very pertinent question to face – who takes care of their little children? Start a playschool school and child care unit that aims to offer a solution to this very pressing problem. The overall quality and spaciousness of the facility plus the presence of qualified and well trained staff members are factors that are likely to impress a parent. Ultimately it is important to make the young parent feel ‘safe’about leaving a child with you.
Tip: Introduce various activities like painting and music for the kids.
4. Car and Bike Customization
Start a car and bike customization service that add a unique touch to vehicles and gives their owners ‘celebrity status’ amongst their peers. Go funky and introduce a variety of designs and customization options.
Tip: Create a website that allows users to scroll through your design catalogues and see your creations come alive on the virtual space.
Health and Fitness Space
5. Gym and Yoga Centre
For the fitness conscious young India, a Gym and Yoga Centre seems to the perfect business Idea. Note that location would be the key for your business in the health and fitness space. Your fitness centre should be located at a place which receives an adequate amount of footfall throughout the day. Also, just like a child care centre, the quality of the facility and equipment, plus the presence of qualified and well trained staff members are factors that are key to your success.
Tip: Start an adjacent store that sells health and fitness merchandise.
Thanks for your time and remember that innovation is the key for success in any business.