[chinku1234]

MY FELLOW EXBIANS
I HAVE BUDGET OF AROUND 4-5 LAKHS AND WANT TO START A NEW BUSINESS
...
PLZZ SUGGEST SOME IDEAS

[chinku1234]

fellow exbians common pllzz suggest something

[IndianGirlLover]

Before starting any business, do a good research about the business and ask the ups and downs about the business from an experienced business man.

You didn't mentioned any of your interest and what you are doing earlier. Be specific so that you will get lots of suggestion and ideas from fellow members.

[Rama999]

For a succcessful business, firstly you need to be aware it can be a hit or a fail. Therefore you shd b financially stable to take the risk.

Next, you should not choose a business based on the $ you have. You should choose a business based on the knowledge and interest you have on the field. You should analyse other things such as competitors, your contacts etc. Only after that, you should arrange for $.

If you have interest and knowledge in a certain field, and you are confident you can do well then go for it. Even if you need a few lakhs extra, just go and get it by other means like borrowing, bank loans etc.

So firstly tell which field you have knowledge and interest in. Based on that exbiians can give the advice.

[chinku1234]

Originally Posted by IndianGirlLover

Before starting any business, do a good research about the business and ask the ups and downs about the business from an experienced business man.

You didn't mentioned any of your interest and what you are doing earlier. Be specific so that you will get lots of suggestion and ideas from fellow members.

my area of interest is to open up small hotels , restaurants or even opening up a travel agency.
well about asking ups and downs they tell that nothing is sure in business..all they do is to demotivate..

[chinku1234]

Originally Posted by Rama999

For a succcessful business, firstly you need to be aware it can be a hit or a fail. Therefore you shd b financially stable to take the risk.

Next, you should not choose a business based on the $ you have. You should choose a business based on the knowledge and interest you have on the field. You should analyse other things such as competitors, your contacts etc. Only after that, you should arrange for $.

If you have interest and knowledge in a certain field, and you are confident you can do well then go for it. Even if you need a few lakhs extra, just go and get it by other means like borrowing, bank loans etc.

So firstly tell which field you have knowledge and interest in. Based on that exbiians can give the advice.

i have done enginnering from NIT Rourkela and have 2 yrs of experince in working in CIL , no earlier experience in business as i m starting new..

[Srivatsan Nadathur]

You can accuse me of demotivating you - but I do not care because I am supposed to render sound advice. Please know that hotel/restaurant/eatery is a labor intensive business and that can spell trouble. In this business, you cannot have proper inventory control. Besides, every night you will be saddled with unsold food items and you may never know what to do with them

If you are willing to come out of this hotel/restaurant/eatery obsession, then we can think of something less risky.

[chinku1234]

Originally Posted by Srivatsan Nadathur

You can accuse me of demotivating you - but I do not care because I am supposed to render sound advice. Please know that hotel/restaurant/eatery is a labor intensive business and that can spell trouble. In this business, you cannot have proper inventory control. Besides, every night you will be saddled with unsold food items and you may never know what to do with them

If you are willing to come out of this hotel/restaurant/eatery obsession, then we can think of something less risky.

well how about opening a travel agency like buying 2 -3 autos and giving them as a rent..???
i wouldnt mind if u suggest ur ideas as i m starting new and anything nice and good will be grabbed by me ..

[Srivatsan Nadathur]

The best way to earn reasonable profit and keep your investment money safe is to seek distributorship of a few well known products for a part of the city you are living in. I am talking of products like HLL, Horlicks,Dettol, Brittania, Parle,ITC Colgate, Eveready Soapsetc.

You can make a modest beginning with one or two products and keep adding as you grow and consolidate. You will be assured of a monthly 5% return on yoir investment and the marketing will be done wholly by the principals.

[Material Boy]

Originally Posted by Srivatsan Nadathur

The best way to earn reasonable profit and keep your investment money safe is to seek distributorship of a few well known products for a part of the city you are living in. I am talking of products like HLL, Horlicks,Dettol, Brittania, Parle,ITC Colgate, Eveready Soapsetc.

You can make a modest beginning with one or two products and keep adding as you grow and consolidate. You will be assured of a monthly 5% return on yoir investment and the marketing will be done wholly by the principals.

Yes,This is safest one.

Another idea that came to my mind is that of an Optical store.It's a lucrative business if tried in metro cities.