Want to start a business under ₹20 lakh but don’t have any clear ideas? Many aspiring entrepreneurs face the exact same difficulty of finding a business concept that combines minimal investment with the promise of high profits. Fortunately, there are plenty of business opportunities that fit within the ₹20 lakh budget and can generate substantial returns. Let’s take a closer look at these ideas and how a business loan can help you execute them effectively.
Food service
The food services sector in India is expected to reach ₹7.8 lakh crore by FY28. This figure highlights the high demand for food-related businesses. Whether it’s a mobile food truck, a small cafe, or a speciality cuisine restaurant, these ventures can be launched for under ₹20 lakh and be highly profitable.
On-demand cleaning service
In today’s fast-paced world, many people prefer outsourcing cleaning tasks to professionals. Hence, starting an on-demand cleaning service could be a profitable business idea. You will need a small team, basic cleaning equipment, an online presence for easy bookings, and reliable service to grow your client base. Use a quick business loan to hire skilled staff and invest in high-quality, eco-friendly cleaning products.
Pet grooming and pet care services
Did you know India is home to over 31 million pet dogs and 2.44 million pet cats? As pet ownership rises, so does the demand for quality pet care services. These services offer solutions like haircuts, nail trimming, bathing, and ear cleaning. Moreover, services such as pet daycare, walking, and boarding are also in high demand. With proper training, the right equipment, good trainers, and a focus on customer trust, this business can be highly profitable and scalable.
Eco-friendly disposables
With increasing government regulations on single-use plastics and rising consumer awareness about sustainability, the demand for eco-friendly disposables is growing quickly. Some common items include plates, cups, and packaging materials. These products are ideal for catering services, restaurants, cafes, and events where single-use items are necessary, but an eco-conscious solution is preferred.
Laundry and dry-cleaning services
Laundry and dry-cleaning services are highly valued in urban areas, where busy lifestyles leave little time for chores. This business can be set up with a relatively low investment and doesn’t require any special skills. All you need is space to set up washing machines and dryers, and you can hire staff to handle the operational aspects.
How can a business loan help you with your business idea?
Wondering how to get a ₹20 lakh loan without any bank visits and tedious paperwork? The IndusInd Bank Quick Business Loan can help. You get the flexibility to borrow any sum between ₹2 and ₹20 lakh to manage crucial expenses such as inventory, equipment, and marketing. With an affordable interest rate, you can launch your business without the pressure of strict repayment terms.
Look at the USPs of this borrowing option:
Quick access to capital: With a 100% digital approach, you can apply for this business loan online and complete the remaining formalities from any location. The funds can be disbursed in as little as 20 minutes, depending on your credit history and other financial parameters.
No collateral requirement: You do not have to pledge any security or asset to obtain financing. This is especially beneficial for new entrepreneurs who may not have significant assets to pledge.
Disbursal in existing account: Many banks ask borrowers to open a new current account for loan disbursement. However, with IndusInd Bank, you can skip this step, as the total loan amount is directly credited to your existing account.
GST benefit: For loans up to ₹5 lakh, there is no GST requirement.
Apply online today and get an instant loan of ₹20 lakh without any hassle!
Key takeaways
As you can see, these are a few of the best business ideas in India under ₹20 lakh, ranging from food services and on-demand catering to pet care, eco-friendly disposables, and laundry services. To succeed, choose a business idea that aligns with your skills, market demand, and long-term vision. Most importantly, consider the financial backing of a business loan for a successful launch and growth.
