Aspiring to start your own business is a very good idea, but zeroing in on the best idea is a very tough task to do. In addition, managing finances and time for the business makes it even more tougher.
Planning to start your business is the first step towards starting a business. If you have made your mind, you are already half way ahead of others. Now is you are confused regarding How and What to do, leave that to us.
In this article, we will provide you a list of 10 such unique business ideas, that are very profitable and require very little logistics, manpower and investment. Once, you get on the path, you can upscale, as all of them are scalable.
Here are the examples of business ideas that you can start now and reap huge benefits in 2023.
Best Business Ideas In 2023
If you are looking for a business and startup idea that you can work on in 2023, then you can explore the ideas listed below:
- Domain Buying And Selling
- Art Collection And NFT Business
- Pet Services Business
- T Shirt Printing Business
- Online Coaching And Consulting Business
- Drop Shipping
- Organic Farming
- Affliate Marketing
- Travel Consulting
- Event Photography
- Cloud Kitchen Business
- Scrap Collection Business
- Gifting Services
Let’s discuss them in detail now.
1. Domain Buying And Selling Business
This is one of the best low investment and high profit businesses that you can start in 2023.
You must be knowing what a “Domain name” means. It is a website name, and name is what gives an identity. Just imagine buying a domain name for 3$ to 10$ and then selling the same for 100000$ in a matter of just few months. It might seem surprising, but people are doing it and earning in lakhs.
To start this business, you will have to keep your eyes and ears wide open to stay updated about the future events. As soon as any mega event or mega business is unveiled, people start making blogs about that. If you book all the related “domain names” in advance, the companies will offer you lakhs of dollars in lieu of your domain names.
Example: Recently Facebook revealed that it is going to rebrand itself as meta, and with that metaverse became a new talk of town. Imagine you had bought the metaverse related domain names in advance, you could have sold them for any price you wanted.
Research well and read news on daily basis. After that, you can buy any such domains that you consider have scope in future, from any domain registrar like Godaddy, Hostinger or Dynadot etc. A domain name will at the most cost you 10$ subject to its availability.
Once you have purchased some domains, you can list all of them for sale on GoDaddy website and it is free. Alternately, you can start your own website where you can sell your domain names.
2. Art Collection and NFT Business
This is another highly profitable business that you can start in 2023.
Collecting art in its various forms is fun and at the same time a potent business. You will have to collect art based upon the likes, preferences and utility, and form an art collection. This collection will appreciate in its value with every passing day.
In art collection business, you will have to focus on the quality and value of art, and the same time explore new places to get a diverse art collection.
You might now ask, what will I do with my art collection, even if I manage to get some rarest items. You can directly list them on sale on various art collection websites. Alternately, you can convert them into digital art and put them on sale as Non Fungible Tokens (NFTs). Believe me, NFT buying and selling is a new trend and people sell their NFTs for millions of dollars.
3. Pet Service Business
Another business idea, that is going to be very profitable in 2023 is a pet related business.
As more and more people are adopting pets and becoming pet sensitive, it automatically translates into various kinds of business oppurtunities in it. The pet industry is worth billions of dollars and the possibilities are exploding, therefore, one can easily reap benefits from this industry.
If you love having pets, or have any knowledge about the health and management of pets, then this business idea is for you.
You can provide a variety of pet related services like “Pet Sitting Service“, “Pet Training Service“, “Customised Pet Products“, “Pet Consultancy“, “Pet Grooming“, “Pet Walking” etc to the pet owners. Once you get to understand all nuances about these services, you can easily convert it into a full fledged business.
In addition, you can also start a pet blog and youtube channel to be a successful “Pet Influencer“. You can earn money from there also by way of advertisements, affliate marketing etc.
4. Designed And Printed Objects
This is among the very small investment and high profit business ideas in 2023.
Who does not love to wear customised and well printed t shirts, have mobile covers with photograph of your hero etc, and sending customised gifts to our friends and relatives? All of us do.
To start this business, you will have to buy a sublimation printer, which is not so costly.In addition, you need to buy good quality t-shirts, mobile covers, hoodies and bags.
This business has not lot of competition yet, and it is therefore the best time to jump into it.
5. Online Tutoring And Consulting Business
This is a billion dollar industry and if you have a knack of teaching or consulting, you can make huge benefits from it. Who does not want his children to be well educated and well consulted?
But before you jump into it, you need to ask yourself if you are passionate about education and consultation? And if you love working with students? Being an online tutor and consultant will grant you huge flexibility (both in terms of working hours and rate of your service), a diverse pool of people to interact with, a meaningful way of making a positive impact in society, and a chance to guide others to success, besides a good income.
While you are working as an online tutor and consultant, always make sure that you seek feedback from your clients. It will help you in becoming a better version of yourself.
Once you become successful, hire a team of like-minded people and turn yourself into a full fledged educational services company. Work harder to meet the new challenges and you will always witness an upward growth.
6. Drop Shipping Business
Will you believe me, if i tell you that people have become millionaires just by selling such products that were never in their stock. This is the power of Drop Shipping.
Drop Shipping is a business, where you build an inventory of items and list them fro sale, without actually having them in stock. Whenever any person orders an item from your inventory, you order that product from a third party and have that directly delivered to your customer.
This is a very lucrative business. But, before you jump into it, you will have to do some research. Find any such products that are in great demand and have less competition. Once you find such products, list them on sale on your website and start a targeted ad campaign on YouTube and other social media platforms.
If you have researched well, chances are that you might start getting orders right from the first week. In case, you don’t make sales even after an ad campaign, then you need to switch your products.
Remember that the global dropshipping business is expected to exceed $557 billion by 2025, therefore, it is the best time for you to jump into this business.
7. Organic Farming
Organic farming means cultivating plants and rearing livestock in a completely natural way, without use of any synthetic materials in the process. It is gaining momentum, as people have started becoming health conscious, and as they have started learning about the harmful effects of various chemicals and other unnatural inputs used in agriculture.
Organic farming is going to be a very lucrative business in 2023 and in coming years, because of two reasons; one that there is a huge demand for organic agri products and, second, that this concept is still in its nascent stage and hence free from tough competition.
There is a plus point to organic farming, that government and various inter-governmental institutions are providing the necessary financial and logistic help to people aspiring to start organic farming.
Before starting your organic farming, you will have to do the basic research regarding the suitable crops, the soil type of your area, means by which chemical usage would be removed, the cost-benefit ratio of using organic inputs etc. In addition, you will require to seek assistance from an agri-expert and other enterpreneurs involved in organic farming.
Remember, that success does not come in few days. You might fail in your first endeavour, but consistency and learning from your failures, are the key to success.
8. Affiliate Marketing
Affiliate Marketing is a business model in which company pays a part of their revenue to the individuals through whom the sale of its product occurs. More the number of sales that occur through you, more is the amount of revenue you will get.
This business model is as old as the web itself, and its potential is never going to wane. The positives about this Affiliate Marketing are that it is a zero-investment business with huge revenue, and that it has no risk associated with it.
The only issue is that you will have to invest a good amount of your time in generating good traffic sources, like a youtube channel, a blog or an instagram account with good following.
Before jumping into this business, research well about such niches where there is a huge potential for affiliate marketing. In addition, make sure that you promote only such products that you personally use or would have no problem in using, as affiliate marketing is purely based on trust.
9. Travel Consulting
Tourism is perhaps the largest industry in the world right now. It employs millions of people in one or the other way.
Travel consulting business can be very thrilling as it gives you an oppurtunity to meet people from different cultures and countries, but at the same time, it can be very challenging, as you have to meet the customer expectations, make staying arrangements for your customers and arrange hassle free transport for them.
This business has huge income potential, is simple to do and you will love engaging yourself in it. The negative point is that it is immensely affected by Recession and Lock downs, and you will require a good amount of manpower.
To start this business, simply make a website and run an ad campaign to get an easy access to your customers.
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10. Event Photography
Who does not love clicking and posting beautiful photographs of important events on social media. The trend has increased, more so with the advent of social media platforms especially Instagram.
If you can afford to invest some money in getting a DSLR camera, lighting, props and a Gimbal, and learn some good photography and photo editing skills, then this business is for you.
The positives of this business idea is that you will love doing it. In addition, it is very profitable, simple to start and can be started with a training of just one month.
The negatives are that you will might have a hard time in satisfying your customers, and spend good time indoors to do color correction and manipulation of photos.
You can extend this business to other fields also, like pet photography, family photography, commercial photography etc.
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11. Cloud Kitchen Business
Cloud Kitchen or a Ghost Kitchen is a shared kitchen between multiple restaurants. They are in high demand because of the reasons given below;
- there is a very high demand for online food.
- Restaurants cannot open their own kitchens every where.
- cloud kitchen helps the restaurants in easy expansion.
- cloud kitchens help restaurants cut costs, and earn good profits.
So, if you have some space available in your town or city, you can turn that into a cloud kitchen, and then rent it out to the restaurant owners, who want to expand their business in your area.
Cloud kitchen concept is a win win situation. It helps the restaurants in cutting their costs and in easy expansion, and at the same time helps you in earning decent monthly income.
Another way to earn through cloud kitchen concept is that you will run the kitchen yourself. To do so, you should partner with online food delivery platforms like Swiggy and Zomato, and hire some chefs, and you are good to go.
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12. Scrap Collection Business
Scrap refers to the goods made of metal or other materials that cannot be recycled, and scrap collection is a very low investment but profitable business idea.
| Scrap Business (Why) | Scrap Business (Why Not) |
|---|---|
| It is a low investment and profitable business | Scrap business requires a huge space |
| It helps in keeping the environment clean | You should have some basic knowledge regarding segregation of various materials |
| Scrap business has very less competition. | Dealing with scrap may sometimes be injurious for health. |
Scrap business in India is not yet organized, but is still a million dollar industry. So, if you have a desire to start a less risky business, then this business is definitely for you.
13. Gifting Services
Gifting industry is a billion dollar industry, and there are just few big players, who have captured a portion of this industry. The rest of the business is waiting for you.
If you have a bit of creativity in you, and are enthusiastic to start an online business, then this low investment business idea is very suitable for you.
You should jump into gifting services business because;
- you will love doing it, as it is a fun to do.
- it requires very low investment.
- it is very profitable in nature.
- gifting business can be started any where.
- this business will help you in connecting with other businesses.
To run this business, you will require;
- packaging and decorating skills.
- a website.
- an Instagram page.
Once, you have set up your business, run an ad campaign to get the first customers. If you manage to satisfy them, you will never look back in this business.
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These were some best low investment business ideas for 2023. You can start them now and they will be highly profitable by the end of 2023. Remember, that winners don’t quit and quitters don’t win. Further, having a dream is the first step towards its realisation, but you will have to be resilient, dedicated and committed towards achieving your goal.