Mumbai is one of the most populated cities in India, there are lots of jobs in the same city however, there are multiple opportunities to execute the most profitable business ideas in Mumbai as well.
You might know that Mumbai is producing almost 20% of the total GDP of India which is a very higher figure, and hence there are many opportunities for different jobs and executing various best business ideas in Mumbai 2021.
It doesn’t matter whether you are a resident of Mumbai or not, you have the same opportunities to run the most profitable business in Mumbai as well.
Not only Mumbai, but Pune also has the most potential to generate huge revenue by executing amazing business ideas in Pune as well.
Hence our motto is to explore the best business ideas in Mumbai, we are going to talk about the business to start in Mumbai in this article.
Most Profitable Business Ideas in Mumbai
Mumbai is the financial capital of India and everyone is familiar with this fact as well, and there is the main reason that you have a lot of opportunities to execute the many types of business ideas in Mumbai.
Some business rules are the same everywhere like some businesses need a huge investment, some businesses need the mid-amount of investment and some businesses need a very low amount of capital.
In this article, I am going to educate you about each kind of business that will break the barrier of investment in terms of money, energy, and time as well.
Part Time Business Ideas in Mumbai
If you are living in Mumbai, do you think that you can survive with one income source, and if you have a good salary job in Mumbai, then you might have learned a lesson during the Corona period that jobs are not permanent now?
There must be the source of a second income with you from which you can manage the misc. expenses and save some money for the future and your family security purpose.
In order to fulfill this requirement, we have listed some very good Partime Business Ideas in Mumbai for you here, which will help you a lot to build up a strong passive income source.
1. Garment Reselling Business – Best Part Time Business in Mumbai
Do you know that Mumbai is one of the biggest garment manufacturing and trading hub in India, and Mumbai is distributing a huge quantity of garments all over India?
You do not need to worry about a penny, you are not supposed to invest lakhs of rupees to execute this best part time business idea in Mumbai.
I am talking about the Garment Reselling in Retail and wholesale, where you will be taking orders from the customers and supplying them the goods from the manufacturer or wholesaler.
How to Start Garment Reselling Business in Mumbai
Before I explore the best strategy for this business, let me disclose that I am from Gujarat and I am also running this business and purchasing the garments from Mumbai.
The process to start this business is very simple, which you can start with a very low investment, however investment is not required, but you should have it for the backup purpose.
Find The Suppliers
First, you need to find the wholesalers of garments who are willing to provide the garments according to the required quantity.
The reason for this is that some wholesalers are providing in minimum quantity like minimum 100 pieces, or 500 pieces, etc.
Or else you are supposed to find the retailers who will be able to supply you with a single our little quantity of pieces at profitable rates.
One question should be raised in your mind that from where I can find this kind of supplier, right?
Well, you can search them on social media and Facebook is the best platform for that, you will have to find the groups which members are selling and buying the garments.
For a few days, just monitor them, their rates, varieties, and services, if anyone sounds good, contact them, bring some samples and check the quality.
If you like the quality and rates of that supplier, contact them again and offer a deal whether they are able to supply according to the requirement or not.
Most of the suppliers will get agreed with your proposal, and one more important thing is that do not rely only on one supplier, collect multiple suppliers.
Ask them to send the catalogs on regular basis with each detail of their products along with the original photographs.
Find The Customers – Build The Community
Now the major question is whom you will be selling these garments, right?
Don’t worry you will be getting thousands of customers for these products.
Join the Facebook groups by searching Garments, Shirts, Sarees, and other garments, you will be finding hundreds of groups and join those groups that hold more than 1000 members.
Share the products every day, and share them at least 7 times per day, it will consume a maximum of 1 hour total of the day.
In the starting phase, you will not be getting noticeable inquiries, and there is a rule for each business, you just have to keep working on it until you receive the first inquiry.
Share the products in at least 4 groups per day, do not share too much otherwise, Facebook will block you by considering the spammer.
The second source of Customers is Whatsapp, share the products with details on your WhatsApp status, send them to your groups, and contacts and educate them that you have some very best products and you are offering them at very affordable rates.
Then you are supposed to share them on Instagram posts and stories.
Keep this stuff for just 2 months, you will build a strong community of garment needy people, then make a Whatsapp and telegram group and add all of them in it, and don’t miss giving them the updates regularly.
Delivery, Payment and Investment
As long as you start receiving the orders from the customers, do not ever delay delivering them, ask them for the 50% advance of total payment, and approach them to pay the rest of 50% while delivery.
Tie up with 3-4 courier logistics who will be making this stuff easy for you, don’t make the delivery by the random courier logistics every time.
The investment to execute this one of the most profitable part time business ideas in Mumbai is tends to zero, but you should have at least Rs. 10,000/-.
The reason behind this is that you will be receiving only a 50% amount from the customer while confirming the order but you will have to pay the full amount to the supplier.
Profit Margin of Garment Reselling Business in Mumbai
Could you imagine the profit margin of this business? I think no, but it’s damn true, however, you will see the real potential of this business when you will start to execute 15-20 deliveries per day.
One more amazing thing of this business is that this business holds the pure profit because there is not any onetime or recurring expense like Electricity bill, Wearhouse space rent, Salary of employees or nothing other else.
If you get any piece in Rs. 550/- from the supplier, you can resell it in 800 very easily and it will be cheaper for the customer than the price of a showroom or local shop.
The delivery charged will be paid by the customer so it will not be considered at your expense.
You can earn at least Rs. 100 profit for each delivery and within 6 months you will be delivering a minimum of 30 pieces per day if you work with consistency and dedication.
As a result, you will be earning at least 3,000/- per day, which figures almost 1,00,000/- per month.
There are many part time businesses in Mumbai that you can start like Vegetable Home Delivery, Supplying the raw materials to the restaurants, Jewelry Reselling.
According to my opinion, Vegetable Home delivery is the best part time business in Mumbai and it’s profitable which is long plastic as well.
Don’t you think that this can be one of the best and most sustainable side business ideas in Mumbai?
Small Business Ideas in Mumbai
Small Business Ideas in Mumbai are the best module because they can be executed by working part time and full time as well, depends on your time management.
It’s not necessarily full-time to execute the small business ideas in Mumbai because you have at least one source from which you can generate the survival cost, which can be a job.
If you are looking for small business ideas in Mumbai, then you are only one step ahead to explore it, because later on in this article, you will be at that spot.
2. Festival Materials and Gift Shop
By looking on a first view, this business sounds like a general and average category business, but let me let you know, every business touch the top of the market after building trust, and brand trust.
If you have a good investment and planning for executing good small business ideas in Mumbai, this one will be a proven gold business for you.
Mumbai is one of the most celebrated festivals in India and there is a huge community of purchasing gifts.
Mumbai has a very big youth crowd and they believe to gift their loved ones, secondly, parents are used to gift to their children often.
The major challenge to execute this small scale business in Mumbai is not only investment, it’s the location.
You should utilize the maximum time to search for a perfect location to execute this one of the scalable small scale business ideas in Mumbai.
The territory of Colleges and big Temples will be proven the best location for this best small scale business in Mumbai.
There is a noticeable profit in business, to grow your business there is one very large source which will make your business more profitable.
You should contact the people who run the business of event managing, they will be providing you the regular orders for your products.
3. Saloon Business
Saloon does not stand for only the barbershop, saloon includes stylish hair cutting, facial, providing the marriage services as well in terms of the best look.
If you are living in Mumbai then you will be familiar with the fact that Mumbai is the hub of Fashion and Style.
You should open a saloon shop with one-time investment only, and there is not any other recurring expense except rent, the salary of employees, and electricity bill.
The population of Mumbai values time rather than money, in this case, many people will approach you to go to their location and give the service.
This is one of the most golden opportunities to make a huge profit, you can provide the service by going yourself or you can send any of your employees by charging extra money for service, and according to my experience and analysis, there is a minimal chance for negotiation from the customer.
Investment and Profit
The investment to execute this best business to start in Mumbai will be a little bit huge, and the return of that will also be huge.
The reason for this is that you will be investing only one time for the equipment and you will be utilizing the same equipment for every customer.
You will be taking the net profit of your work and skills.
4. Tiffin Service for Jobbers
Do You Know?
“Dabbawala Tiffin Service” was started by an individual person and today its annual turn over is around 45 crores, and they deliver 2,00,000 tiffins per day and it was started before 125 years.
It does not mean that you can not start the tiffin services in Mumbai, the aim to describe this fact is to define the potential of this business.
This business can be one of the small business ideas in Mumbai for ladies who are willing to establish a small business with low investment in Mumbai.
You will not have to find the customers here and there, the employees of huge multiple companies will be your permanent customers.
You know that Mumbai is a fast city, and the expense of outside food like hotels and restaurants is too costly in comparison to the income of the middle-class person.
They are always looking for homemade foods by the tiffin service and this is a very nice opportunity for you.
If you are a lady, and willing to manage this business in a proper way then this is the most scalable best business to start in Mumbai.
Investment and Profit For Tiffin Service in Mumbai
If you are thinking that you will be requiring a huge investment for executing this one of the profitable small business ideas in Mumbai for ladies, then let me share the truth that you will have to serve only 5-10 people initially.
The expense for the 10 people can be manageable for any middle-class person, you will need just some vegetables, oil, and other ingredients.
The profit margin ratio of this best business in Mumbai is around 30%.
5. Event Management Business
This is the business to start in Mumbai which requires the skills and team to execute because this business requires new and creative ideas.
Hence the population of Mumbai has a lot of money, but they do not have time, they can not invest the time prefer to money and that’s why they only invest the time into those matters which can not be executed by money.
By taking the advantage of this situation, you can build a great business idea of event management.
You will have to take the order of arrangement of events like birthday party, marriage, receptions, farewell parties, Baby showers, etc…
There is a lot of money in this business with low investment, and you will just have to use your skills and creativity along with your team.
One challenge of this great business in Mumbai is that you must have the team to accomplish the order properly.
Investment and Return
The investment of this business is not too high and not too low, you should have around 30k-50k to purchase the event materials, which you will be recovering from the clients.
You will have to pay your team their salary which is not fixed, you can set the various salary amount per event.
Profit Marting of this profitable business is too high, for example, if you charge a client for one event management Rs. 25,000 then the materials will be used of Rs. 7,000 around, and you will be paying around Rs 10,000/- to your team and your net profit will be around 8000/-.
The time taken to accomplish one order depends on the nature of the event.
6. Interior Desiginig Business
This is one of the sustainable small business ideas in Mumbai for ladies, as the ladies have great skills and knowledge of Interior Designing.
Actually, it doesn’t matter whether if you are male or female, you can finely execute this one of the best small scale business ideas in Mumbai if you have proper knowledge of interior designing.
Your client will be the new home purchased people and newly established offices, you can do the online marketing to spread your business by doing a little bit of investment as well.
According to my assumption, you can not imagine the investment and return of this best business start in Mumbai.
Your investment will be about zero, in only some cases you will have to purchases some items if the client is not ready to provide you, and you can recover that money in the final billing with profit as well.
An average of an intermediate interior decorator is charging around 10,000/- for one home decoration where the investment is zero.
If you have only 5 orders to decorate the home per month, your monthly income can reach up to Rs. 50,000/-
Don’t you think that this is one of the best Business ideas in Mumbai 2021?
Side Business Ideas in Mumbai
Doing a side business in Mumbai is full of wise decisions because as I mentioned earlier, that to switch to the business from the job without having a strong backup will harm your financial arrangement.
If you are a middle-class person who is not having a strong backup then you should start a side business on a small scale, let it grow, and then when it seems that you are earning equals to the job salary, then you should switch.
There are many Small Business Ideas in Mumbai that you can execute with slow speed and then you can execute on a big scale.
One is I already have mentioned above Garments Reselling Business.
The second one is Social Media Marketing Business, which I am going to explain to you further.
7. Social Media Marketing
Social Media Marketing is one of the fastest-growing business ideas in Mumbai and it’s a very good opportunity for the upcoming future time.
You can do the social media marketing yourself else you can tie up with any company that wants to grow its business through social media marketing.
For that, you should have the knowledge of how to use Facebook, Instagram, and LinkedIn for social media marketing, how to run ads on those platforms and how to get the traffic.
In social media marketing, you are supposed to drive the traffic from the social media platforms to the companies website for their branding or sales purposes.
If you have your own small buisness, then this is one of the best business ideas in Mumbai that will make you rich very soon.
You can promote your skills also on social media marketing and get the customers for your existing business as well.
Conclusion on The Best Business Ideas in Mumbai
You should not wait further after coming to have the proper information and fundamentals of the business and deciding which business will boost your income.
Running a business is not a big deal in comparison to starting the business, analyze, decide, make a plan, and then after do not waste the time to execute one of the best business ideas in Mumbai.