| 3 minutes read

3 minutes read

Top 10 Most Profitable Industries To Start A Business Right Now

| Published on January 20, 2020

Each individual as a part of the millennial generation dreams of being a part of the start-up race, to be the next Ritesh Agarwal or the next Vijay Shekhar Sharma. Yet, we all take a step back due to the fear of failure, resentment against losses and stiff market competition. Then again, in a highly populated country like India, there are ample opportunities to dive into, especially for industries that have average growth rates of 150%.

Interested? Here are the top 10 industries awaiting your presence:

1) Transportation – Keep moving

This mostly covers the rise of the electric vehicle industry where there are options of venturing into the car charging stations business as well. Driverless cars and rural markets can also prove to be a profitable investment if exploited wisely.

2) Construction – Build tall

You can be a manager or construction agent where you can get to tap into the construction business of the real estate market. It does take time to generate revenue but is worth the investment.

3) Finance – Money speaks

Financial technology that merges basic finance with innovative technology along with crypto trading are available as career options. You can have your own company partner with existing financial institutions, providing them with the latest tech.

4) Hospitality – Plate it right

Be a part of the hospitality industry by having your own chain of cafes or restaurants, something that can never go wrong. People always enjoy a good meal, especially with the rise in the working populations that order-in rather than cooking.

5) Retail – Sell well

Join the offline and online retail market where you could venture into the e-commerce business and sell personalized items. Customers enjoy having something unique at budget prices.

6) Media – Stream smart

Considering the vast success faced by gaming platforms and OTT platforms, being a content developer or provider can not only allow you to explore your creative side but also enable your stories to the world.

7) Health – Be safe

Every human prioritizes health over everything else and hence pushes the development of innovative cures. Fields like Biotechnology and health data management for efficient analysis and disease detection are open to new players, generating good returns. With an expected market size of 132 billion dollars in 2023, it promises considerable growth.

8) Technology – The way forward

Big data, AI and Machine learning have already taken the world by a storm but lack effective and knowledgeable companies to expand the industry. Moreover, with so much more to do, the industry demands help.

9) Real estate – Use the land

Being a property dealer and an online agent can win your brokerage prices and allow you to make good contacts. Infact, the real estate will never stop growing, especially with the rise in rural and urban stay planning.

10) Energy – Fueling fast

With the recent crude oil crisis and India’s constant demand for fuel, being a dealer or manufacturer in this industry could allow large profit margins. Moreover, it holds vast prospects for trade as well.

Don’t wait around anymore, start a business in these segments and be a part of the rich club!

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