Kolkata is developing at a steady pace. The city offers brilliant opportunities for job seekers and budding businessmen. Several new businesses have emerged in the city over the last few decades; some of which have grown to become big names in the market. Kolkata is ranked second for housing the highest number of MSMEs in India. While the competition in the city is growing rapidly, a good business idea can help generate lucrative income. In this article, we share some of the top business ideas in Kolkata. We also share why starting a business in the city is a good idea. Read on to find out!
Choosing Kolkata for Your Entrepreneurial Journey: Compelling Reasons
Top reasons you should choose Kolkata for your entrepreneurial journey are as follows:
- It has a diverse economy and growing consumer market which offers a good scope for different kinds of businesses to emerge.
- In comparison to other major cities in India, the cost of running a business in Kolkata is low. This makes it a good choice for starting your entrepreneurial journey.
- You will find well-educated professionals and a skilled labour force in the city which is important to achieve business success.
- The city features good infrastructure including well-constructed roads and good connectivity with other parts of the country.
- The West Bengal government provides various schemes to encourage people to set up businesses and contribute towards its economic growth.
Business Ideas in Kolkata Promising High Return
Here is a list of some of the businesses that you can start in Kolkata:
- Recruitment Agency
Kolkata is a hub for industrial units. Some of the sectors booming in this city include pharmaceutical, heavy engineering, textiles, electronics, and jute. Job seekers from various towns and villages located nearby look for job opportunities in the city. By starting a recruitment agency, you can help them get suitable jobs as per their qualification and calibre, and earn a good return. You can start small with just one or two staff members and expand as you get more leads.
- Makeup Artist
The demand for makeup artists has increased substantially in Kolkata. With more events being organised and festivities being celebrated, your entrepreneurial journey as a makeup artist can prove to be quite promising. You do not have to invest in a physical set-up initially if you do not have enough budget. You can visit your clients to offer service during the initial phase. A certificate in cosmetology and specialised makeup tools can help you start this business.
- Career Guidance Consultancy
With so many professional courses and career options available, youngsters often find it difficult to understand what’s best suited for them. Many of them seek professional guidance to understand which industry they should opt for. There is a scope for getting a good flow of work if you choose this business idea in Kolkata. However, you require thorough knowledge about various fields to provide the right guidance and build a good reputation in the market.
- Tuition Center
This is a fairly easy business requiring little investment. You can start by providing tuition in the subject you excel in and eventually build a team of faculties specialising in different subjects. Offering private tuition helps you earn a lucrative income in this city.
- Food Processing Unit
Being one of the largest producers of rice, potatoes, and lychees in the country, Kolkata offers you the opportunity to set up a food processing unit. You can start this business if you have around INR 8 to 10 lakhs to invest. The availability of raw materials in the city makes it easy to operate and build this business.
- Fast-Food Business
This is becoming one of the most lucrative businesses in the current times. It has a good scope in big cities where people prefer eating out more often. However, the business can be demanding as you need to maintain high-quality standards to attract customers. The competition in this field is growing as Kolkata has witnessed a growth in the number of eating joints over the last few years. It requires a minimum investment of INR 5 to 7 lakhs and well-trained staff members.
- Bengali Sweet Shop
While you will find plenty of Bengali sweet shops in Kolkata, investing in this business can still be a good idea. This is because people of Kolkata are known to have a sweet tooth. You can start the business by investing INR 5 to 10 lakhs. If you can innovate and give a delightful twist to their traditional sweets, then you stand a chance to outshine your competitors. Keep the rates competitive and build a brand of your own.
- Textile Business
Textile is another business idea in Kolkata that can be rewarding. This is because of the easy availability of raw materials like jute and cotton. You will also find skilled labour to work for your textile business. You can expect a profit margin of 10-20% in this business. However, setting up this business will require an investment of INR 25 lakhs.
- Mobile Phone Repair Shop
Almost everyone has a mobile phone these days and these small gadgets often require fixing. It has become an essential part of our lives and the issues thus need to be fixed immediately. A mobile phone repair shop can help generate good business. The key is to set up your shop at an appropriate location. Hire certified technicians and offer quick service to get an edge over your competitors.
- Art Pieces or Handicraft Items Shop
People of Kolkata love art and handicraft items. If you are an artist, then it is a good idea to monetise your passion for art. While there are quite a few shops in the city that sell beautiful art pieces, there is still scope for starting a business in this sector. Kalighat paintings are among the most sought-after art pieces in Kolkata. Selling these paintings in addition to creative art pieces can prove to be quite profitable. You can expect a profit margin of 25-30% on each one of your art pieces.
- Content Writing Agency
You can start a content writing agency by hiring freelance writers. This will give you a chance to select talented writers from different parts of the country. You can get your work done from them without investing in an office space. With the requirement for content writing services on the rise, you can bag lucrative projects and earn a good income.
- Daycare Center
With most young couples choosing to work these days, the demand for daycare services has become high in the current times. This makes it yet another excellent business idea in Kolkata. You may start small with just a few kids depending upon the size of the facility you can afford.
- Leather Processing Business
Kolkata has a booming leather industry with a leather park spread across 1100 acres of land where most of the industry operations take place. While there is a lot of competition in this sector, there is still scope to make it big as you can sell your products in various domestic and international markets. You can start with the business by investing INR 5 to 10 lakhs.
- Fish Dealer
The people of Kolkata are fond of fish curry. The combination of rice and fish curry is a staple here. The demand for fresh fish is huge and consistent in the city and its surrounding areas. Thus, becoming a fish dealer can prove to be a good business idea in Kolkata. Not just in the local market, you can even sell your product in other parts of the country and the international market.
- Travel Agency
The travel industry in Kolkata is booming. People travel to Kolkata to witness its rich heritage and old-world charm. Likewise, the inhabitants of Kolkata love exploring new cities around the world. Starting a travel agency in the city can be profitable. With adequate knowledge and skill, you can attract clients and earn a good return in this business. You can start this business with an investment of less than INR 3 lakhs.
- Tea Shop
You can start a tea shop with an initial investment of less than 1 lakh. With many tea lovers in the city, your business is likely to grow as you can expect a good return on investment. The key is to choose a strategic location for your shop. For instance, opening a tea shop near office complexes, hostels, and railway stations can bring good business. Offering different flavours can help attract more customers. You can expect a profit margin of almost 40% in this business.
- Start a Bakery
The baking industry is growing in this part of the country and has the potential to offer substantial returns. The demand for cupcakes, brownies and homemade cakes is on the rise in the city. You can start a home-based bakery with an initial investment of INR 80,000 to 3 lakhs. However, acquiring the skill to bake is crucial to make your business grow.
- Book Store
Kolkata is mainly inhabited by Bengalis who love reading. They cultivate a habit of reading in their children from an early age and this fondness grows as they grow older. Thus, you can never go wrong with starting a bookstore in this city.
- Event Management
If you have good planning and management skills and a creative bent of mind, then event planning can be a good career path for you. The initial investment for this business is around INR 3 lakhs to 5 lakhs and the returns are good. The work for event management companies sees a boom during the Durga Puja season. You can expect a profit margin of up to 30% in this business.
- Car Rental Service
Car rental service is much in demand in urban areas of Kolkata. The competition in this field is relatively low. Thus, you stand a good chance of capturing a substantial market share by offering quality service at competitive rates. The initial investment for starting this business can be between INR 50 lakhs to 2 crores, depending on the type and number of cars you plan to rent.
Conclusion
There are plenty of lucrative business ideas in Kolkata. You can generate good income using any of these ideas if you have the right skills and knowledge about your chosen field. Starting a leather processing business, bakery, textile business, bookstore, and car rental services are among some of the business ideas that can help you earn well in the city. The key is to study and understand the market thoroughly and create an effective business plan. Hiring talented professionals and executing the idea efficiently is equally essential.
