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Top 20 Unique Business Ideas for Women Entrepreneurs

sahil bajaj

Sahil Bajaj

Senior Specialist - Marketing @ Shiprocket

March 1, 2024

15 min read

From kitchens and home-grown creative ventures to CEO positions in big corporations and seats in the parliament, women are increasingly taking center stage. They are breaking barriers, and setting new benchmarks. According to the World Bank, one in three businesses globally has a woman as its principal owner.

The desire for financial independence and an aspiration to manage work-life balance leads many women to hunt for suitable business avenues. Business opportunities for women are endless today.

This article sheds light on practical and innovative business ideas that promise profitability and success for women.

Business ideas for women

Prerequisites For Launching a Business

Before we dive into the business ideas for women, it’s important to understand the foundational steps to launch a business:

1. Business Idea

At the base of any new or successful venture lies a strong business idea that sets a solid foundation. This idea should be unique and must solve a specific problem or fulfill a need in the market. The business idea doesn’t have to be revolutionary, but it must bring something different to consumers or improve existing products or services. You should start by conducting thorough market research to validate the need for your business idea. Then, understand your target audience and assess your rival companies or potential competitors.

2. Business Plan

Drafting a well-crafted business plan becomes an insightful roadmap for your business. It outlines some of the most important aspects of creating a successful business: 

your vision, mission, objectives, market analysis, marketing and sales strategies, financial projections, and management structure. Your business plan must detail how you plan to grow your business, your revenue model, and how you plan to reach your target market. A solid business plan is like an engine that drives your strategic preparation and even helps secure funding. It informs the investors or lenders of the potential profitability and viability of your business.

3. Funding

Securing funding is the next essential step for launching your business. Now, you have a few ways to arrange for this investment: bootstrapping (using your own savings), seeking loans from banks or financial institutions, finding investors, or applying for grants and subsidies designed for startups or women entrepreneurs. Scan through the abundant funding options available and choose the one that best aligns with your business model and growth plans.

20 Business Ideas That Promise Success 

There are several creative and unique business ideas in different sectors for women to try. Many of these ventures may require only a small capital to start with. Here’s a list of riveting business ideas for women: 

1. Online Retail Store

Convenience and fast-paced life are the slogans of a rapidly developing eCommerce world. Accordingly, many platforms like Shopify and Etsy have emerged that provide a user-friendly interface to sell products. If you’re a woman who creates unique handmade items or has an eye for curating collections that appeal to a niche market, this business model may be perfect for you. Your business’s reach and earnings can be enhanced by starting an eCommerce business in this digital age. The international revenue of the online retail market has crossed over USD 6 trillion at the end of 2023. The experts expect it to touch USD 6.9 trillion in 2024 and USD 8.148 trillion towards the end of 2026.

2. Content Creation

You can very well monetise your skills by creating content for various platforms if you have a knack for writing, photography, or video production. The numerous flexible and creative earning opportunities that content creation offers are like starting a blog, a YouTube channel, or managing social media for businesses. 

There is a massive demand for content creators in the market. From Instagram reels and Spotify podcasts to digital and AI art, everything contributes to persuasive content that keeps people glued to their screens. Appealing content is one of the best ways to reach customers, which enhances the scope for creative minds all the more. 

3. Health and Wellness Coaching

Fitness and a healthy lifestyle are common goals of many people these days, and this number is only going to rise. There is an increasing focus on holistic health, as you see teenagers to aged people hitting the gyms or yoga centers every day. Thus, this area offers substantial business scope for women. You may choose to offer services such as nutrition planning, fitness training, or mental health coaching online to help clients achieve their health goals.

4. Eco-Friendly Product Manufacturing

How many times do you see or hear the words eco-friendly or sustainable when dealing with brands or ordering products online? There is a reason that businesses are increasingly marching towards a sustainable approach. Sustainability is like a new anthem for environment-conscious people worldwide, as the concern for preserving the ecosystem and decreasing the carbon footprint is growing. Experts have projected the global sustainability and green technology market size to grow from USD 16.50 billion in 2023 to USD 61.92 billion in 2030, with a growth rate of 20.8%. Therefore, businesses that offer eco-friendly products are in popular demand. 

Producing eco-friendly products ranging from biodegradable goods to sustainable fashion can become a great manufacturing business for ladies. It will provide you with a great opportunity to make profits and a positive impact simultaneously.

5. Digital Marketing Consultancy

With more and more businesses finding their space online, there’s a gushing demand for digital marketing experts in the market. Starting your digital marketing agency and catering services like SEO (Search engine optimisation), social media management, graphic designing, or email marketing is a lucrative business idea for women. It has a high-income generating potential. You may invest in hiring experts who have relevant digital marketing skills and create a team to serve your clients. 

6. Event Planning Services

If you have creativity and organisational skills all locked up in the back of your mind, you may be a woman built for event planning. Event planning is a vigorous field that requires mainly three things: creativity, meticulous organisation, and the ability to manage multiple tasks simultaneously. 

Successful women event planners like Vandana Mohan (Founder of The Wedding Design Company and Priti Sidhwani (Co-founder of DreamzKrraft Weddings)

have built their reputations creating memorable experiences and orchestrating high-profile weddings in India. Good networking and partnerships with vendors, venues, and service providers are the fuel for this business. You may build a portfolio that showcases your unique style and successful events to attract clients later.

7. Educational Services

The raging success of e-learning platforms like Khan Academy, Coursera, etc. has shown the potential for educational services online. You can consider tutoring on various subjects, offering online courses, or conducting workshops in your area of expertise from the comfort of your home. The online platforms multiply your scope by manifolds to reach students globally. 

Women can implement this business idea by leveraging technology to provide an interactive and personalised learning experience to students. If you have the knowledge or specialisation in a particular subject or can cater to specific educational needs, it may set your services apart in a crowded and highly competitive market.

8. Fashion Designing

Fashion and women mostly go hand-in-hand. The feminine side in a person is known for exhibiting creativity. Many women have a knack for creating fashion styles or statements. Fashion designers like Ritu Kumar, Anita Dongre, and Masaba Gupta are a bunch of women who made their mark by creating distinctive lines of outfits that resonate with specific audiences. Launching a clothing line or boutique online can be an excellent business idea for women. Experts predict India’s apparel market’s revenue to reach USD 105.50 billion in 2024, growing by 3.81% annually in the 2024-2028 forecast period.

Starting an online clothing venture reduces overhead costs and enables you to tap into a global market easily. Famous platforms like Myntra, Nykaa Fashion, and others can also provide you with a spot to promote your outfits. You need to keep these few things in mind to get success in this business: understanding your customer base, staying true to your brand identity, and taking advantage of social media for marketing.

9. Home Baking Business

We see fancy cakes, cupcakes, cookies, and other innovative bakery items all around us nowadays. People want to add more charm to the special occasions of their loved ones by gifting delicious bakery. Many home-based baking businesses have created success stories. One such bakery is ‘Dezertfox’ by Aishwarya Bhende which started as a small bakery and grew into a popular one citywide in New Delhi. 

The key to making this venture a success is to offer something unique in terms of custom designs, local ingredients, or specialty flavours. You can use eye-catching photography on social media spaces like Instagram to display your creations and attract local customers.

10. Fitness Training

Women fitness trainers and influencers like Sapna Vyas gained popularity and recognition through her transformation journey and dedicated work in the field. She motivates a large number of people through her fitness programmes and workshops. She also uses social media platforms to share tips on exercise, diet plans, and healthy lifestyle habits.

As staying in shape is the new buzz, it has propelled the fitness industry’s growth. Thus, specialising in areas like yoga, pilates, or specific fitness goals can help you stand out and create an audience for yourself. You could offer online sessions or create fitness apps to expand your reach beyond the local clientele.

11. Jewellery Making

Adorning your neck, hands, or ears is nothing new, but you may see its prevalence among people now more than ever. Men and women both like to wear a few pretty ornaments. Famous fashion bloggers like Komal Pandey and Siddarth Malhotra have contributed to accelerating this trend. Handmade jewellery businesses like Suhani Pittie, renowned for their innovative and contemporary designs, started as small ventures. They found their place in prestigious fashion weeks and are a favourite among celebrities. 

If you love jewellery, then starting small, focusing on quality craftsmanship, and creating a strong brand story can help you attract customers who seek unique ornaments. Make a presence online and collaborate with fashion influencers to reach an audience that would appreciate your creative designs.

12. Freelance Photography

With people needing high-quality and creative photography for their products, portfolios, and more, freelance photography has become an in-demand job. If the click of the camera ignites passion in you, and you possess photography skills, you have several opportunities to capture images for many brands globally and earn well.

Freelance photography in India brings with it a varied income potential. The level of income largely depends on the photographer’s skill level, specialisation, client base, and the volume of work they can get. On average, a beginner freelance photographer may earn around INR 17,000 per month. Beginners might find themselves at the lower end of the income range, while experienced photographers with established brands and clientele can earn toward the higher end or even more. However, you must understand that the earnings can fluctuate based on the season. Certain times of the year, like the wedding season, potentially bring in more work and higher income.

13. Interior Designing

Sunita Kohli, a celebrated interior designer known for her expertise in historical interior architectural restoration and design, began her career in 1971 with no formal training in design. She eventually established herself as a leading interior designer in the field. 

The love for aesthetics and beautifully designed personal or commercial spaces is growing among people. Interior designing may serve as a fruitful business idea for women who like to decorate and give a charming touch to interiors.  

14. Personal Shopping Services

As a personal shopper, you can provide much value to people who lack the time or expertise to shop for themselves. Individuals with a busy lifestyle who are barely able to find a work-life balance struggle to take time to shop. You can cater to many such clients looking for fashion, groceries, or unique gifts by providing them with personalised shopping experiences. All you need to do is have a keen eye for the right products that align with your client’s preferences and build their trust in you. 

15. Freelance Web Development

Which business doesn’t need a website today? It’s a top priority for most businesses, especially eCommerce ones. A cracking business idea for women during the surging demand for having an online presence is creating websites for brands. If you have a keen interest or excel in IT and coding, this may be a profitable venture for you. There’s a constant demand in the market for skilled individuals who can assist brands in developing the ideal website.

16. Beauty Salon 

The beauty sector, a booming multibillion-dollar industry, is a source of income and employment for over two million women globally. The prolonged skincare routines of today make a vast array of cosmetic products a staple in nearly every woman’s collection.

Launching a beauty salon or cosmetic studio is one of the prime entrepreneurial opportunities for women. This business has a perennial demand and minimal initial investments. If you can secure a suitable venue and assemble a small team for support, a beauty salon can become a viable income stream and a profitable business. Many women even start their home-grown parlours if they have enough space in their house.

17. Handmade Soap and Beauty Products

Women-owned brands like The Sass Bar, featured on Shark Tank India, have shown the rising demand for organic and cruelty-free beauty products. Making handmade soaps requires only a small investment and is an easy process. You can start with a product line and adopt sustainable practices to attract the ever-growing eco-conscious consumers. A few effective ways to market these products involve online sales and craft fairs.

18. Virtual Assistant Services

The market has a growing demand for virtual assistants as businesses often look to outsource administrative tasks. It’s a great business idea for women who can or want to provide these services from home. Remote work offers them flexibility and the opportunity to work with clients locally and globally. If you specialise in areas such as social media management, customer support, or bookkeeping, this business can increase your value and get you potential clients.

19. Bookkeeping Services

Small businesses often seek a helping hand for maintaining financial records, which makes bookkeeping a valuable and in-demand service. Beginning a bookkeeping service requires an understanding of accounting software and financial management principles. You must focus on building a reputation for reliability and accuracy to fetch some long-term client relationships.

20. Craft Workshops

Craft workshops may be better for women who are skilled at any craft work. Focusing on popular crafts like pottery, painting, or sewing and providing a welcoming, instructional environment to customers helps you conduct successful workshops. You may have heard of or attended one in your locality. People conduct pizza-making, pottery, self-makeup, painting, and other types of classes for 1-2 or more days in different locations. You can use social media and local community boards to attract participants interested in learning creative hobbies.

Conclusion

Each of the business ideas for women mentioned above lays a pathway to success through passion, dedication, and a strategic approach to meeting customer needs. Regardless of the type of business you opt for, the key is to leverage your strengths and create something of value and interest to your target audience. The business ideas presented above are only the tip of the iceberg when it comes to unique business ideas for women. Tapping on the right idea, plan, and funding sources will bring success within your reach. Identify your passion, understand the market, and deliver value to your customers for making the most of your venture.

Recognising this potential of women entrepreneurs, Shiprocket’s Aarambh has come with a unique opportunity for women-led SMEs across India. This initiative is designed to empower women-led businesses, providing them with the platform and resources needed to scale and succeed.

How much investment do you need to start a business?

The type and scale of your business decide the amount of investment you’d need to start your venture. You must also consider ongoing expenses such as website hosting, marketing, and insurance. For instance, digital-based businesses such as content creation or virtual assistant services are low-investment ventures with minimal upfront costs. They mostly primarily require a reliable internet connection, a computer, and relevant software. In contrast, businesses like online retail stores require inventory or specialised equipment. Therefore, such businesses need substantial investment to cover the costs of goods and equipment and possibly even to buy or rent a dedicated space for operations.

Can I start a business from home?

You can start many types of businesses, like freelance services, craft workshops, cloud kitchens, online stores, and more, from your home. They are not only feasible but have become increasingly popular, especially owing to the global shift towards remote work.

How do I promote my business to reach a wide target audience?

Marketing is what takes your business to places and makes potential customers aware of your products or services. You could use many effective marketing strategies to promote your business and enhance your reach, like social media marketing,  SEO (Search Engine Optimisation), content marketing, and networking.

What are ideal business ideas for women who are beginners?

A business that demands minimal financial investment while avoiding the need for substantial borrowing to commence operations is one of the most suitable options for a beginner. Particularly, online ventures such as selling digital templates, offering online courses, and engaging in affiliate marketing make excellent examples of such businesses.

Furthermore, many doors open for talented individuals who can leverage their talents in areas such as writing or editing. It’s a cost-effective approach as these activities do not necessitate initial financial input. Another economical option is venturing into content creation by starting a YouTube channel or becoming a social media influencer since you can do much of the filming and editing using a smartphone. It eliminates the need for expensive professional gear and heavy investments.

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