"The Solar Entrepreneur" - It is an Ambitious programme launched by Loom Solar Pvt. Ltd. to make Entrepreneurs in each district across India. The company aims to generate a monthly business of 25 Lacs a month with an investment of 3- 5 lacs and provides multi layer support which includes 1) Opening office - Master Franchisee show room, 2) Appointing of 3-4 Sales Person 3) Easy finance to Channel and Consumer 4) Local advertising through Bus/ Auto 5) Special Focus to kW Sales from Commercial and Industrial Customer.
Business Opportunities in India
India is the 5th economic countries in the world after the USA, China, Japan & Germany as per GDP report by Worldometers. Currently, India has approx. 50 industries as per Indian Brand Equity Foundation (IBEF), such as Agriculture, Automobiles, Banking, Ecommerce, Education & Training, FMCG, Healthcare, and more. India will be in the top 3 countries in the world in the next 10 years. So, we can expect, here are a lot of business opportunities. Let's understand how can start a business today.
Business Plan by Investment Wise
We have categorized business opportunities as per Investment & Profit. So, we can plan a business an investment-wise:
a. Small investment (Investment of Less than 1 lakh)
If you have small investment, like less than 1 lakh, you can start a small business, such as Ration, Vegetable, Dry Cleaning, Saloon, etc.
b. Large investment (Investment of more than 1 lakh)
If you have a big investment, like more than 1 lakh, you can start micro-level manufacturing plant of Fish Farming, Pottery Form, Footwear Factory, Disposal Daily Usages Products, etc.
Business Plan by Business Type
When you plan to start a business, you must have to think about which type of business you have to start, so here are two types of business, such as:
1. Product Based
You can become a dealer and distributor of any product company. Product Based Company makes Distributor and Dealers, such as Havells, Voltas, Luminous, Loom Solar, LG, Sony, Exide, Syska, Philips, Bajaj, Apple, Lenovo, etc.
2. Service Based
You can get a franchise or agency of any service-based company. Service-Based Company gives Franchising. It is also known as Agency, such as HP Gas Agency, Bharat Petroleum Agency, CBSE Franchising, Mother Dairy Franchising, Patanjali Franchising, Coco cola, Pepsi, etc.
Business Opportunities in Solar, India
Solar Industry is one of the growing industry in India and most of power-consuming gadgets will run by the help of solar power, such as home, office, hospital, school, factories, railway, airport, electric vehicles, agriculture water pump, street lights, etc. So, we can plan how can start a business in solar? Here are three startup points, you can start, such as:
1. Who is Distributor?
Distributor is a person who will manage dealers in a particular area. He has financially strong, technical sound, strong distribution networks in his area. You can find more information about eligibility criteria of distributor registration from here: https://www.loomsolar.com/products/distributor-registration
2. Who is Dealer?
Dealer is a sub-part of Distributor. He generally interacts will end customers, such as home & business owners. He has small shops where he can keep some of the sample products for demonstrations. You can find more information about eligibility criteria of dealer registration from here: https://www.loomsolar.com/products/distributor-registration
Business Oppurtinies Video
Which is the best distributorship to start in India?
There are many ways to start distribution ship in India, There is a certain basic rule of this business as given below:
1. Financial Strong: You can start with even Rs. 1 lacs but you should have enough to sustain the business during a difficult time and if a business grows then high buying capacity to fulfil the requirement of the market.
2. Competitive Price: You should have a better buying power, it means you buy at a low price and sell at a high price. In this business, there will be many distributors who would be selling a similar product so you can only sell your product to your retailers/dealer if you have better pricing.
3. Warehouse: You would need a warehouse with 4 to 5 staff, where you would store your material for 30 to 45 days to sell in the market.
4. Relationship: This business works with the relationship only as you would sell the product to limited no of dealers so building a good relationship will be key to the growth of your business.
Always reach to your partner through online/offline medium so they can recall you if any product demands available.
5. Product/Service: You always tie-up with those brands/products on which you have confidence and good for society and also growing this product in the market.
Avoid selling those products which are highly competitive or market matured or negligible demand in the market.
How do I get distributorship for famous brand?
Getting a famous brand is difficult but if you make a consistent effort you can be associated with many famous brands. A famous brand has certain criteria that you must fulfil. It is given below:
1. High Investment – You should have at least Rs. 1-2 crores for investment for a longer time.
2. Large warehouse – You must have a large warehouse to keep the stock of 1-2 crores.
3. Credibility – Large brand always validates your credentials in the market and also how many dealers network you have.
4. Target – You get the target of 15 to 20 crores yearly, and you must fulfil this target to sustain your business with famous brand else they shift your distribution ship to other partners.
5. Low Margin- Famous brand has big challenges of low margin, they never offer a margin more than 2%. They focus more on top-line (gross revenue)
Where do I start for a distributorship?
There are many small/large organization who always look forward to new distributors to expand their business in many regions. Each company has certain criteria to become distribution ship. You must fulfil those criteria first.
Therefore, it is necessary to build your credential and also your financial strength to be part of the distributor for any organizations. You can start your journey as given below:
1. Unemployed Person: If you are a student / non-working/unemployed then you must start small. You just become a dealer of any brands and do the transactions first. It means first sell some of the product to end consumer and get the learning and also build your financials. Once you get successful here, then you can look forward to becoming a distributor for any known brand going forward.
2. Employee/starting a new business: If you are already working in a company or you have small shops and want to make it big, you want to earn more money. In such cases, you must learn the basics of distribution ship business. If you have enough knowledge about the product, brand and if you have enough money to invest in it, you can start it anytime.
3. Dealer/Distributors: If you are already a dealer or distributor of any company and looking forward to becoming distributorship. First, you meet the company representatives and understand the terms and conditions of business. Once you understand it and also about the products and how a company will service the market. You can sign the agreement to open the business.
How do I become a dealer of any product?
Becoming a dealer of any company is easy, here you buy the product from the distributor and sells to end consumer and also you get enough margin from 10 to 15% depending on market demand. Here you can start a business from a very small amount of rs. 25,000/- and sell it from your small retail shop. Once you build your credibility in the market, you also get the product on a credit basis from 30 to 45 days. Selling product is difficult so you should have a plan how would you sell the product to your consumer. You must-have a marketing strategy to generate leads and build your customer base.
What is the biggest business opportunity currently in India?
There are much growing business is coming up in India and you must be hearing in various news like Electric Vehicle, Lithium-ion battery and Solar Business etc. Sales of these products will be very less in today’s times but this product may become a mass product in 10 years time. So if you invest your time and money in these sectors, you can growth multiple time with the growth of the industry.
What are some new business startup ideas for the small city?
There are many businesses which are getting popular in a small city. You must look around your city and find what is the biggest challenge of your city and start finding the solutions like transport, health, online shopping, educations etc. and you can build your business around it. You can open an online shop and deliver the product at home. You can do a tie-up with the popular brand and sell their product in your city. Starting a business in a small city totally depends on your conviction, once you believe in it. Just do it and during the process, you will have much more learning and you can implement those failure/learning in your business to grow for the next level.
What are the best franchise opportunities in India?
Franchise business is a successful business, we have seen many successful stories of the same. You must have seen Domino/Pizza hut kinds of shop, these are all franchise business. In Franchise business, a Popular brand does a tie-up with a local company to expand its base in those markets. Food Company, an Apparel company, FMCG company or any large brand keep some of the stores as company-owned stores and the majority of the shops they own it through the franchise business model. Here, Brand do promotions of the products in the shop or in the market and franchise owner invest money in building a retail shop and managing the shops.
What are the best profitable business opportunities in Chapra, Bihar?
Chapra is a small city in Bihar. Here you can do kind of brand tie-up with popular food, apparel, FMCG or automobile brand and sell it in your city. Other than this you can open the farming business and sell agriculture kinds of products.
What business opportunity opens for Indians in the lockdown?
Lockdown has given many setbacks for small enterprises due to financial enterprises but it has also given many opportunities to start new kinds of business as consumer behaviour has shifted this year. Majority of the people are living at home and also working from home only. So online food delivery, online shopping and digital payments trend grew in the year 2020. So it has given many opportunities to start a business like becoming food delivery partner, sell products online on Amazon or open health products kinds of business. Some of the people opened manufacturing business and selling directly to the consumer online.
Which is the right platform to find opportunities in 2020?
There are many opportunities available in India and it can be easily found on youtube/google/linked in. These are the best platform where you can learn a lot about how to find new opportunity besides, you can walk around the market in your city and find the opportunity. You will search for many kinds of product and you will notice that some of the products are not available in your city so you can find those products and sell to your market. In today’s times, there are many products which are only available in online but no available in offline so you can find those product for your markets.
How can I start an F&B franchise in India?
There are many popular brands in this category like Haldiram, Domino, Macdonalds, Pizzahut, Burgerking, Pepsi etc. But you need to heavily invest to get a franchise of such large brands so you have low budget then you can approach to small size brands which product is reliable and mass acceptances.
What is the cost of opening a franchise in India?What is the most profitable franchisee in India?
Opening a franchise business is capital intensive, at least you should have 15-20 lacs to open any kinds of franchise business as you build a retail shop with your cost and also you have to keep the inventory besides, you have to manage the stores also with limited staff. So you must be financially strong to run your store successfully. Food business franchise and apparel business are more popular and profitable business in India.
How much do you earn by your Franchise business?
Its totally depends on your product and brand that you are associated with. Also the turnover of your business. If your turnover is less then 10cr then average earning is 3 to 4 % whereas if turnover is more then 10cr you get approx. 2% margin.
What is the most profitable franchise opportunity in India now within 5 lakhs of investment?
For franchise business 5 lacs is a very small investment but still, you can look for a growing market which has future after 3 to 4 years like an electric vehicle, solar business etc.
How and why do you franchise your business?
For any popular brand, franchise is the best way to increase their market presence with low investment. In franchise business, Brand don’t invest in building retail store, its totally done by franchise owner. Brand owner only provide brand marketing materials, sales support and branded products. Here, franchise owner manager the store and its goal to achieve the sales target assigned by the company.
Brand increase their presence in many market in short time with low investment and low risk. Its win-win business model for Brand owner and franchise owner.