Need a Business Idea? Here Are 5 Incredible Small Business Ideas for Startups.

 

 

Coming up with a business idea and starting a business can seem overwhelming and complicated. There are so many things you have to consider from coming up with an excellent idea to registering a company, all the way to business planning, fundraising and much more.

 

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Running a business can have a powerful impact on your life and the lives of those around you. But before you can run a business, you need to start a business. Deciding to start your own business can seem like a daunting prospect if you’ve never done it before. Luckily, plenty of other entrepreneurs have, and you can benefit from the wisdom they gleaned from their successes—and their mistakes.

 

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No matter how ambitious your business goals ultimately are, you can still start a business in your spare time, working around the current commitments in your life. Not everyone has the ability to quit their full-time job and pursue launching something of their own, but that doesn’t mean you can’t get started. Finding a business idea is something you can approach systematically by relying on time-tested approaches that have worked for other entrepreneurs.

 

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Before you start a business, you should be absolutely clear about why you are doing it. That may sound obvious, but there are actually many reasons why someone should choose to turn their back on the security of a job and career for the uncertainty of starting a business. So the clearer you are about what exactly you are trying to achieve, the better chance you have of achieving it.

 

Here are 5 Incredible Small Business Ideas:

 

1.   An Investment Opportunity in Business of Dairy Farming & Dairy Products (Milk, Butter, Ghee, Paneer & Curd)

 

Dairy farming is a type of agriculture that involves the long-term production of milk, which is then processed (either on the farm or at a dairy factory, both of which can be referred to as a dairy) before being sold as a dairy product. Dairy goods, often known as milk products, are foods made from or containing milk from mammals such as cattle, water buffaloes, goats, sheep, and camels. Yogurt, cheese, and butter are examples of dairy products. A dairy, or dairy factory, is a facility that manufactures dairy products.

 

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With the exception of most of East and Southeast Asia and areas of central Africa, dairy products are consumed worldwide. Dairy products, milk, and milk-based foods such as butter, cheese, ice cream, yoghurt, and condensed and dried milk are all examples of dairy products. Milk has been utilised by humans to supply both fresh and storable nutritious foods from the beginning of recorded history. Almost half of the milk produced in some countries is eaten as fresh pasteurised whole, low-fat, or skim milk. The majority of milk, on the other hand, is processed into more stable dairy products that are sold all over the world, such as butter, cheese, dry milks, ice cream, and condensed milk. The term "dairy processing factory" refers to a facility that processes dairy products.

 

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Dairy goods are foods that are made from milk in general. They are abundant in energy. Raw milk for processing is mostly obtained from cows, but goats, sheep, and water buffalo are occasionally used. Milk is primarily made up of water (about 90 percent). The global dairy products market was estimated at USD 481.08 billion in 2019, with a compound annual growth rate (CAGR) of 2.5 percent projected from 2020 to 2027. The key factors for this market's growth include increased dairy product consumption and a shift in customer preference from meat to dairy products for protein enrichment. The simple availability of dairy products as a result of modern retail facilities and cold chain logistics propels market growth even further.

 

2.   Profit-Making Small Business of Adhesive (Fevicol Type - D2, D3, D4)

 

Any substance capable of binding materials together in a functional manner via surface adhesion that resists separation is referred to be adhesive. Cement, mucilage, glue, and paste are all names that are often used interchangeably to describe any organic material that makes an adhesive bond. Inorganic compounds like Portland cement can be called adhesives in the sense that they hold items like bricks and beams together by adhering to their surfaces, but this article will focus on organic adhesives, both natural and manmade. On adhesives, the letter ‘D' stands for durability. These classifications are based on the European standard BS EN 204, which controls the categorization of non-structural wood glues.

 

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Durability grading is divided into three categories. Classifications of Durability:

D2= Interior locations with short-term exposure to running or condensed water and/or high humidity, as long as the wood's moisture content does not exceed 18%. D2 is a substance that is used in furniture and woodworking. Sofa frames are made in-line.

D3= Interior locations that are frequently exposed to running or condensed water for an extended period of time. Areas that are exposed to the elements. D3 is used in fine joinery, furniture construction, and veneering, as well as flat panel lamination with plastic laminates.

D4= Interior locations that are frequently exposed to running or condensed water for an extended period of time. Areas that are exposed to the elements. D4 is used in the creation of bespoke furniture. In extreme settings, high-quality joinery, such as windows and doors, is required. Chipboard flooring bonding is one of the applications for timber frames.

 

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From 2016 to 2026, the global wood adhesives market is expected to grow at a CAGR of 3.10 percent, reaching USD 5.24 billion. The expansion of the furniture, woodworking, and construction industries, as well as expanding urban populations, increased remodelling and renovation activities, and the global economy's recovery, are all contributing to the worldwide wood adhesive market's rise.

 

3.   Trending Future Business of Paracetamol (BP/IP/USP Grade)

 

Paracetamol powder, often known as acetaminophen, is a pain reliever and fever reducer. Paracetamol is a fever reducer and pain reliever. The specific mechanism through which works is unknown. Headaches, muscle aches, arthritis, backaches, toothaches, colds, and fevers are all treated with paracetamol. It's usually used to relieve mild to moderate discomfort. Its use to treat fever in children has conflicting data. It's frequently sold in conjunction with other drugs, such as in several cold medicines.

 

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Applications of Paracetamol Powder:

a) Fever: It is widely prescribed to people of all ages who are suffering from a fever. Paracetamol is recommended when a child's temperature climbs above 38.5 degrees Celsius.

b) Discomfort relief: It can also be used to relieve mild to moderate pain.

c) Osteoarthritis: Paracetamol has been shown to reduce arthritic pain in the knees, hands, and hips in several studies.

d)  Lower Back Pain: It is utilised as a first-line treatment for lower back pain.

e) Headache Swiss: Austrian and German headache groups utilise paracetamol with caffeine to treat headaches. In India, paracetamol is also used to alleviate headaches. Paracetamol is also used to treat migraines in some countries.

f) Toothache: Paracetamol has been shown to be beneficial in the treatment of toothache in several studies.

g) Menstrual Period Pain: Paracetamol is usually used for menstrual period pain in combination with Dicyclomine Hydrochloride or Mefenamic Acid.

h) Cold/Flu Pain: Paracetamol is also used to help with Cold/Flu Pain when used with Anti-Cold medicine.

 

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The global active pharmaceutical ingredients market was valued at USD 187.76 billion in 2020, with a compound annual growth rate (CAGR) of 6.6 percent predicted from 2021 to 2028. Advances in active pharmaceutical ingredient (API) manufacture, as well as the increased prevalence of chronic conditions including cardiovascular disease and cancer, are both contributing to the growth. Government regulations that encourage API development, as well as changes in geopolitical situations, are propelling the market forward.

 

4.   Future Business Opportunities for Entrepreneurs in Production Business of Alloy Wheels for 2 Wheelers

 

Alloy wheels are wheels produced from an aluminium or magnesium alloy in the automotive industry. Alloys are metal-and-other-element mixes. They are typically stronger than pure metals, which are typically softer and more ductile. Aluminium and magnesium alloys are often lighter for the same strength, have better heat conduction, and have a better cosmetic appeal than steel wheels. Despite the fact that steel, the most common material used in wheel manufacturing, is an iron-carbon alloy, the name "alloy wheel" is normally reserved for wheels manufactured of nonferrous alloys.

 

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Alloy wheels are also bought for aesthetic reasons, albeit the less expensive alloys are usually not corrosion-resistant. Beautiful bare-metal finishes are possible with alloys, but they must be sealed with paint or wheel coverings. Galvanic corrosion is a problem with alloy wheels, and if proper precautions aren't performed, the tyres can leak air. Furthermore, when alloy wheels are bent, they are more difficult to fix than steel wheels, but because of their higher cost, repairs are usually less expensive than replacement.

 

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The demand for light weight wheels with the same strength as steel wheels, as well as good thermal stability and ductility, is driving the growth of the automotive alloy wheel market. Automotive alloy wheels are made of magnesium or aluminium alloys, or a combination of the two. Automotive alloy wheels are light-weight wheels that help a car's steering and speed. Automotive alloy wheels reduce heat dissipation from brakes and lessen the danger of brake failure under harsh driving conditions since aluminium or magnesium alloy is a good conductor of heat. Automotive alloy wheels have complicated geometry and must meet a variety of design requirements, including weight, style, performance, and manufacturability.

 

5.   Explore New Business Opportunities in Manufacturing of Fiberglass Wool Ceiling Tiles

 

A non-woven fibreglass or glass wool mesh core is totally encased with either a square or triangular edge in Fiberglass Ceiling Tiles. Fiberglass or glass wool is made from silica sand, which is a recyclable and environmentally benign green material. This is also one of the best insulation materials available, in terms of both thermal and acoustic insulation. It is a non-combustible substance even when in close and extended contact with fire.

 

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It does not emit noxious fumes or smoke, which are two of the most dangerous health and life risks associated with a burn. Because they are light weight and easy to install, fibre ceiling tiles are ideal for ceilings in offices, industrial and commercial buildings, and other sites. Fiberglass acoustic ceiling tiles are light and easy to install, and they provide great sound absorption. Mineral Fiber Ceiling Tiles are highly insulating both thermally and acoustically.

 

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In 2020, the worldwide ceiling tile market is expected to be worth USD 5.93 billion. From 2021 to 2028, it is predicted to increase at a compound annual growth rate (CAGR) of 8.8%. Growth in the commercial construction industry is likely to fuel the market, with new office complexes, institutional buildings, healthcare facilities, and malls being built all over the world. With expanding need for acoustic and thermal insulation, rising disposable income in developing nations, and changing consumer preferences for house and office building aesthetics, the market is likely to grow. Over the projection period, the use of sustainable and creative building solutions incorporating the use of eco-friendly materials for ceilings, floors, and walls is predicted to boost market dynamics.

 

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ABOUT NPCS

 

NIIR PROJECT CONSULTANCY SERVICES (NPCS) is a reliable name in the industrial world for offering integrated technical consultancy services. NPCS is manned by engineers, planners, specialists, financial experts, economic analysts and design specialists with extensive experience in the related industries.

Our various services are: Detailed Project Report,  Business Plan for Manufacturing Plant, Start-up Ideas, Business Ideas for Entrepreneurs, Start up Business Opportunities, entrepreneurship projects, Successful Business Plan, Industry Trends, Market Research, Manufacturing Process, Machinery, Raw Materials, project report, Cost and Revenue, Pre-feasibility study for Profitable Manufacturing Business, Project Identification, Project Feasibility and Market Study, Identification of Profitable Industrial Project Opportunities, Business Opportunities, Investment Opportunities for Most Profitable Business in India, Manufacturing Business Ideas, Preparation of Project Profile, Pre-Investment and Pre-Feasibility Study, Market Research Study, Preparation of Techno-Economic Feasibility Report, Identification and Section of Plant, Process, Equipment, General Guidance, Startup Help, Technical and Commercial Counseling for setting up new industrial project and Most Profitable Small Scale Business.

NPCS also publishes varies process technology, technical, reference, self employment and startup books, directory, business and industry database, bankable detailed project report, market research report on various industries, small scale industry and profit making business. Besides being used by manufacturers, industrialists and entrepreneurs, our publications are also used by professionals including project engineers, information services bureau, consultants and project consultancy firms as one of the input in their research.

Our Detailed Project report aims at providing all the critical data required by any entrepreneur vying to venture into Project. While expanding a current business or while venturing into new business, entrepreneurs are often faced with the dilemma of zeroing in on a suitable product/line.

 


And before diversifying/venturing into any product, wish to study the following aspects of the identified product:


• Good Present/Future Demand
• Export-Import Market Potential
• Raw Material & Manpower Availability
• Project Costs and Payback Period


We at NPCS, through our reliable expertise in the project consultancy and market research field, Provides exhaustive information about the project, which satisfies all the above mentioned requirements and has high growth potential in the markets. And through our report we aim to help you make sound and informed business decision.

 

The report contains all the data which will help an entrepreneur find answers to questions like:

• Why I should invest in this project?
• What will drive the growth of the product?
• What are the costs involved?
• What will be the market potential?


The report first focuses on enhancing the basic knowledge of the entrepreneur about the main product, by elucidating details like product definition, its uses and applications, industry segmentation as well as an overall overview of the industry sector in India. The report then helps an entrepreneur identify the target customer group of its product. It further helps in making sound investment decision by listing and then elaborating on factors that will contribute to the growth of product consumption in India and also talks about the foreign trade of the product along with the list of top importing and top exporting countries. Report includes graphical representation and forecasts of key data discussed in the above mentioned segment. It further explicates the growth potential of the product.

The report includes other market data like key players in the Industry segment along with their contact information and recent developments. It includes crucial information like raw material requirements, list of machinery and manufacturing process for the plant. Core project financials like plant capacity, costs involved in setting up of project, working capital requirements, projected revenue and profit are further listed in the report.


Reasons for buying the report:

• This report helps you to identify a profitable project for investing or diversifying into by throwing light to crucial areas like industry size, demand of the product and reasons for investing in the product.

• This report provides vital information on the product like its definition, characteristics and segmentation.

• This report helps you market and place the product correctly by identifying the target customer group of the product.

• This report helps you understand the viability of the project by disclosing details like raw materials required, manufacturing process, project costs and snapshot of other project financials.

• The report provides forecasts of key parameters which helps to anticipate the industry performance and make sound business decision.

 

Our Approach:


• Our research reports broadly cover Indian markets, present analysis, outlook and forecast.

• The market forecasts are developed on the basis of secondary research and are cross-validated through interactions with the industry players. 

• We use reliable sources of information and databases.  And information from such sources is processed by us and included in the report.

 

Our Market Survey cum Detailed Techno Economic Feasibility Report Contains following information:

 

 

Ø  Introduction

·         Project Introduction

·         Project Objective and Strategy

·         Concise History of the Product

·         Properties

·         BIS (Bureau of Indian Standards) Provision & Specification

·         Uses & Applications

 

Ø  Market Study and Assessment

·         Current Indian Market Scenario

·         Present Market Demand and Supply

·         Estimated Future Market Demand and Forecast

·         Statistics of Import & Export

·         Names & Addresses of Existing Units (Present Players)

·         Market Opportunity

 

Ø  Raw Material

·         List of Raw Materials

·         Properties of Raw Materials

·         Prescribed Quality of Raw Materials

·         List of Suppliers and Manufacturers

 

Ø  Personnel (Manpower) Requirements

·         Requirement of Staff & Labor (Skilled and Unskilled) Managerial, Technical, Office Staff and Marketing Personnel

 

Ø  Plant and Machinery

·         List of Plant & Machinery

·         Miscellaneous Items

·         Appliances & Equipments

·         Laboratory Equipments & Accessories

·         Electrification

·         Electric Load & Water

·         Maintenance Cost

·         Sources of Plant & Machinery (Suppliers and Manufacturers)

 

Ø  Manufacturing Process and Formulations

·         Detailed Process of Manufacture with Formulation

·         Packaging Required

·         Process Flow Sheet Diagram

 

Ø  Infrastructure and Utilities

·         Project Location

·         Requirement of Land Area

·         Rates of the Land

·         Built Up Area

·         Construction Schedule

·         Plant Layout and Requirement of Utilities

 

Project at a Glance

Along with financial details as under:

 

  •     Assumptions for Profitability workings

  •    Plant Economics

  •    Production Schedule

  •    Land & Building

            Factory Land & Building

            Site Development Expenses

  •    Plant & Machinery

             Indigenous Machineries

            Other Machineries (Miscellaneous, Laboratory etc.)

  •    Other Fixed Assets

            Furniture & Fixtures

            Pre-operative and Preliminary Expenses

            Technical Knowhow

            Provision of Contingencies

  •   Working Capital Requirement Per Month

             Raw Material

            Packing Material

            Lab & ETP Chemical Cost

           Consumable Store

  •   Overheads Required Per Month And Per Annum

         Utilities & Overheads (Power, Water and Fuel Expenses etc.)

             Royalty and Other Charges

            Selling and Distribution Expenses

  •    Salary and Wages

  •    Turnover Per Annum

  •   Share Capital

            Equity Capital

            Preference Share Capital

 

  •    Annexure 1:: Cost of Project and Means of Finance

  •    Annexure 2::  Profitability and Net Cash Accruals

                Revenue/Income/Realisation

                Expenses/Cost of Products/Services/Items

                Gross Profit

                Financial Charges     

                Total Cost of Sales

                Net Profit After Taxes

                Net Cash Accruals

  •   Annexure 3 :: Assessment of Working Capital requirements

                Current Assets

                Gross Working. Capital

                Current Liabilities

                Net Working Capital

                Working Note for Calculation of Work-in-process

  •    Annexure 4 :: Sources and Disposition of Funds

  •    Annexure 5 :: Projected Balance Sheets

                ROI (Average of Fixed Assets)

                RONW (Average of Share Capital)

                ROI (Average of Total Assets)

  •    Annexure 6 :: Profitability ratios

                D.S.C.R

                Earnings Per Share (EPS)

               

             Debt Equity Ratio

        Annexure 7   :: Break-Even Analysis

                Variable Cost & Expenses

                Semi-Var./Semi-Fixed Exp.

                Profit Volume Ratio (PVR)

                Fixed Expenses / Cost 

                B.E.P

  •   Annexure 8 to 11:: Sensitivity Analysis-Price/Volume

            Resultant N.P.B.T

            Resultant D.S.C.R

   Resultant PV Ratio

   Resultant DER

  Resultant ROI

          Resultant BEP

  •    Annexure 12 :: Shareholding Pattern and Stake Status

        Equity Capital

        Preference Share Capital

  •   Annexure 13 :: Quantitative Details-Output/Sales/Stocks

        Determined Capacity P.A of Products/Services

        Achievable Efficiency/Yield % of Products/Services/Items 

        Net Usable Load/Capacity of Products/Services/Items   

       Expected Sales/ Revenue/ Income of Products/ Services/ Items   

  •    Annexure 14 :: Product wise domestic Sales Realisation

  •    Annexure 15 :: Total Raw Material Cost

  •    Annexure 16 :: Raw Material Cost per unit

  •    Annexure 17 :: Total Lab & ETP Chemical Cost

  •    Annexure 18  :: Consumables, Store etc.,

  •    Annexure 19  :: Packing Material Cost

  •    Annexure 20  :: Packing Material Cost Per Unit

  •    Annexure 21 :: Employees Expenses

  •    Annexure 22 :: Fuel Expenses

  •    Annexure 23 :: Power/Electricity Expenses

  •    Annexure 24 :: Royalty & Other Charges

  •    Annexure 25 :: Repairs & Maintenance Exp.

  •    Annexure 26 :: Other Mfg. Expenses

  •    Annexure 27 :: Administration Expenses

  •    Annexure 28 :: Selling Expenses

  •    Annexure 29 :: Depreciation Charges – as per Books (Total)

  •   Annexure 30   :: Depreciation Charges – as per Books (P & M)

  •   Annexure 31   :: Depreciation Charges - As per IT Act WDV (Total)

  •   Annexure 32   :: Depreciation Charges - As per IT Act WDV (P & M)

  •   Annexure 33   :: Interest and Repayment - Term Loans

  •   Annexure 34   :: Tax on Profits

  •   Annexure 35   ::Projected Pay-Back Period And IRR