11 Businesses That You Can Start With 100k

If there has ever been a perfect time to start up a new business or revamp an existing one, then this is it. The past year has seen lots of people, whether experienced ones or complete beginners, successfully become entrepreneurs, and 2021 also will expectedly follow in a similar fashion.

The question remains which business should your investment be made in to ensure the maximum profits.

11 Businesses That You Can Start With 100k in 2021

Here is a list with some great ideas for businesses that you could start with 100k in your pocket!

Also, read Unpopular Secret of Self-Made Millionaires

1. Auto Repair

As long as cars and bikes exist in the world, it is a given that there will be a need for regular maintenance and repair. Whether you open up a specialized auto repair shop that caters to specific, high-end companies and luxury models, or simply a general service garage, there are a few key things that need to be kept in mind. Some of the key things that you should look into are the appropriate location for setting up, possible competitors, competitive pricing for services, skilled workmen, and demand.

2. Electronics

With smartphones, computers, and other gadgets taking over people’s daily life and the world, there is no dearth of demand with regards to electronic services. You could choose between setting up a particular brand’s franchise, a retail outlet for a range of appliances, offer maintenance and servicing of products, or even product setup for new-age, in-demand devices like smart speakers or smart TVs, depending on your skill and suitability.

3. Delivery Services

The pandemic has seen a boost in the requirement of delivery services ranging from restaurant food and goods to basic grocery shopping and parcels. Companies like Zomato, Doordash, and UberEATS have seen massive profits too. It is a no-brainer that investing in and setting up cheap, affordable, and efficient delivery systems is the perfect idea for creating a fledgling startup these days because they are not going out of business anytime soon.

4. Cab and Ride Booking Services

With people taking more and more precautions to keep themselves safe by reducing social contact in public transportation, ride-booking services are the preferred choices over buses, subways, and taxis for traveling these days. Even though the market is highly competitive with huge companies like Uber, Ola, and Lyft offering low costs to customers, investing in such a business is a no-brainer, especially if you can create local demand and also offer pocket-friendly rates, deals, and partnership offers.

5. Food Truck

Food trucks are a great choice for entrepreneurs who are just starting out and have a passion for food or have a prospective business partner who does so. They are a total hit with tourists who want a taste of the local flavor and native residents alike. Make sure that you have the requisite licenses, do your research, offer a unique and diverse menu, choose appropriate locations for setup, and maintain proper hygiene and cleanliness,

6. Digital Marketing Agency

The demand for digital marketing consultants and specialists is on an uphill rise, with content creators, small businesses, legacy brands, and others all looking to expand their reach and visibility to viewers and customers on the internet. Research and select your niches carefully and look for skilled, experienced professionals across a diverse spectrum to be able to provide the best selection of services for potential clients.

7. Job Consultancy

With the market for jobs becoming infinitely more complicated and inaccessible for the average person with every passing day, there is a growing need for job consultancies. Such startups offer a range of services with include but are not limited to offering personalized career counseling, revamping CVs, streamlining work processes, connecting company HRs with job prospects and job seekers, and providing advice for those switching between careers. Since large-scale competition in this business is low, if you can tap into this lucrative market armed with the proper connections and experience, the possibilities are endless.

8. Online Store

Opening up one’s own store may seem like a very daunting idea to most people. But if you are a creator who wants to sell their products, or a niche curator of goods, or even simply want to run an online marketplace, then setting up shop is the way to go. Start out with a rock-solid business plan in place, maintain a well-stocked inventory, set up dedicated and polite communication channels for customers, and expand slowly to maximize profits in the long run.

9. Café or Bakery

If you are a hardcore foodie, or you’ve always dreamt of owning your own little coffee shop around the corner, it is the perfect investment if you can spare the time and effort. Obviously, you need a business plan in place before starting. Research locations and suppliers, the coffee industry itself, brunch menus and invest in a unique, aesthetic décor to create a warm, inviting atmosphere for customers.

10. Gifting Solutions

The gifting industry has been growing in leaps and bounds in recent years, with the global revenue generated being estimated to be around $700 billion. Find a unique selling point for your business and slowly expand over time as your customer base grows. With no shortage of innovative products flooding the market every single day, from personalized gifting to corporate stuff, this is one business that is definitely worth investing in that will guarantee returns pretty quickly if done in the right way.

11. Salon

Trends may come and trends may go, but the beauty salon chains that generate and cater to them will always be in vogue. The initial investment may vary anywhere between $60,000 to $300,000 depending on your location, demographic, and the scale of business, that is, whether you want to set up a place that offers basic services or full-scale, high-end ones. Consistent, quality services and customer satisfaction is the essential key in this business, so buy good equipment, and hire certified beauticians and stylists who know what they’re doing.