Starting your own business is nothing less than an adventure. Hence you need to have a good strategy and knowledge about the business you want to embark on.
If your heart is set on initiating a small business venture in Hyderabad, you have landed in the ideal spot to turn your aspiration into reality.
In This blog we are going to tell you about top business ideas in Hyderabad that you can start with a low budget!
Why Opt for Running a Small Business in Hyderabad?
Hyderabad is the capital city of the southern Indian state of Telangana, India. It is a vibrant metropolis known for its rich history, cultural diversity, and rapid economic growth. The rapid economic growth of Hyderabad has catapulted it into the spotlight as a city brimming with immense potential to emerge as the next business epicenter of the nation.
Drawing entrepreneurs and innovators from all corners of the country, Hyderabad has become a magnet for startups across various industries.
There are various business ideas which can be setup in Hyderabad, which will also be able to successfully yield a good amount of profit and also be useful for the people of the city.
With the increase of the inflow of people from all across the country, the need for various facilities are increasing with every passing day.
Economic Background of Hyderabad
There is an interesting fact, that will not only shock you but you will find it unbelievable, about the economic background of Hyderabad. The city of Hyderabad stands as an excellent start point for your entrepreneurial ambitions. Hyderabad has a staggering GDP of 74 billion USD. And it proudly clinches the fifth position in contributing to the nation’s economic powerhouse. In our humble estimation, this vibrant city offers a fertile ground for establishing and nurturing a profitable business venture.
A Fast-Growing IT Sector
Among the information technology industries that are present in this city are IT-enabled services, the entertainment industry, financial services, business process outsourcing, and other related fields. The city is a part of the global information technology hubs.
Tech Mahindra, Wipro, Tata Consultancy Services, Polaroid, Cognizant, and Infosys are just some of the large domestic information technology companies that have established their operations in the city. Additionally, the city is home to several international companies such as Google, Microsoft, Samsung, IBM, Dell, Oracle, Facebook, and many others.
Taking into consideration the remarkable statistics, we are certain that you are already much too eager to launch your small business in Hyderabad.
Hyderabad is home to a number of international companies such as Google, Microsoft, Samsung, IBM, Dell, Oracle, Facebook, and many others. The city's information technology exports amount to approximately $19.66 billion, placing it in second place in the country.
List of 20 best business ideas in Hyderabad
1. Tech Startups
Hyderabad has earned a nickname for itself- “Cyberbad” given it’s status as a major IT hub. Hence there are ample opportunities for new tech startups focusing on areas such as artificial intelligence, software development, cybersecurity, or data analytics to have their headquarters or branch offices here. Tech Startups are successful in attracting huge young crowd to the city which also has boosted the economy of the city.
2. Healthcare Services
Healthcare is an industry which is required in every part of the world. And given the fact that the city is attracting huge crowds given its potential to prosper in the new start ups and businesses, healthcare is an essential phenomenon. With a growing population and increasing healthcare needs, starting a healthcare clinic, diagnostic center, telemedicine platform, or specialized healthcare service could be lucrative and beneficial.
3. Food Delivery Service
With the rise of the numerous corporate companies and other business companies, cooking food has become a luxury in the fast-paced city of Hyderabad. Try capitalizing on Hyderabad’s love for food by starting a food delivery service offering a wide range of cuisines delivered to customers’ doorsteps. Try make it convenient, and easy for the customer and have a round the clock customer service, to retain your client base for a longer time.
4. E-commerce Store
With the rise in the online platform in every genre of work, which not only gives customers the convenience of choosing from a wide range of options, but also the luxury of receiving the product sitting at their home, you can consider launching an online store selling niche products, locally sourced goods, or handmade items catering to the preferences of Hyderabad’s residents.
5. Tourism and Hospitality
Hyderabad is a city which has a great historical importance and is renowned for its iconic landmarks such as the Charminar, Golconda Fort, and Qutb Shahi Tombs, Hyderabad attracts visitors from across the globe seeking to explore its architectural marvels and delve into its fascinating past. Furthermore, the cuisine of the Hyderabad is something the tourists seek for, while visiting the place. Tap into Hyderabad’s tourism industry by starting a tour guide service, homestay, boutique hotel, or travel agency offering personalized experiences for visitors.
6. Education and Training
Education and training students in some particular specialization is a requirement all across the globe. Even though there are already numerous educational institutions in Hyderabad, there is still a high demand for educational services such as tutoring, exam preparation, vocational training, or online learning platforms.
7. Renewable Energy Solution
With the rise of the demand for energy, it is no secret that the pressure of the limited sources of energy is increasing, which will lead to deletion of the latter. Hence without finding any other alternative, we are required to address the growing focus on sustainability by offering renewable energy solutions such as solar panel installation, energy-efficient products, or consulting services for eco-friendly practices. And as people understand the need for the same, they are interested to invest in renewable energy solutions, as not only they will be in a budget for a long term, but they will be helping the environment as well.
8. Fitness Centers
Fitness has become an essential and integral part of the Gen-Z. They are ready to invest in fitness centers to ensure a good physique and health. Open a fitness center, yoga studio, or wellness center offering gym memberships, group classes, personal training, and holistic health services. Try opening them in the area where the offices mainly are, to attract more members, as it will save their time of traveling. And also provide extra facilities like, dietician, personal trainer, sauna, etc.
9. Event Planning and Management
As nowadays almost everyone wants a ready-made solution for everything, and event planning and management have managed to be one of the top businesses in the country. A one-stop solution for Organizing weddings, corporate events, exhibitions, or cultural festivals by starting an event planning and Management Company, can be an extremely beneficial idea for business.
10. Mobile App Development
You can also look into a startup which will develop mobile apps for businesses, organizations, or individuals looking to capitalize on the growing trend of mobile technology. As mobile is a tool used and available to everyone, mobile app development is a need now.
11. Real Estate Development
Invest in real estate development projects such as residential complexes, commercial spaces, or mixed-use developments in Hyderabad’s expanding urban areas. As the cost of land never decreases, hence it is a good place to invest your money for easy and high returns.
Furthermore, the Real Estate Development business is an umbrella under which you can have various other small businesses like the manufacturing and supply of raw materials like bricks and cement, then interior decoration, gardening tools and plants supplier etc.
You can also set up a real estate brokerage business in the city. With the increase in the population in the metropolitan city, the need for real estate is always increasing and so is the requirement for a broker, who will help them get a property without breaking much sweat.
12. Fashion Boutique
You can also start a fashion boutique selling trendy clothing, accessories, or traditional Indian wear to cater to Hyderabad’s fashion-conscious population. You can collect various types of clothing from all across the country and make them easily available under one roof for your customers. You can also have an online page and a home-delivery system, PAN India. This way you will be able to have both offline and online clients, giving you the benefit and financial returns, amounting to profit.
13. Digital Marketing Agency
Especially during this post-COVID era, the digital marketing industry has taken the entire advertisement business by storm. Almost every business has an online presence. It might be as big as having an entire website for themselves, to just having a single page on Instagram. And everyone desires to have a huge social media or online presence. You can offer digital marketing services such as social media management, search engine optimization, content marketing, and online advertising to businesses in Hyderabad.
14. Home Healthcare Services
Providing home healthcare services such as nursing care, physiotherapy, elderly care, or post-operative care to meet the needs of Hyderabad’s aging population, can be a very beneficial business idea. With the rise of the population rate in the city of Hyderabad, and given the increasing number of Hospitals and nursing homes, the demand for home healthcare services is increasing at a shocking rate. Investing in this business will yield a good amount of profit.
Furthermore, you can also set up a business that will supply medical instruments like patient beds, and wheelchairs on rent to the patients, as most of the time, affording the entire setup might not be possible for them.
15. Restaurant or Cafe
You can invest and open a restaurant, café, or food truck serving a variety of cuisines, fusion dishes, or healthy meal options to cater to Hyderabad’s diverse palate.
Let’s not forget that cuisines like Hyderabadi biryani, mirch ka salan, haleem, etc are something Hyderabad is famous for worldwide. Hence serving such delicacies can be a profitable business altogether.
You can also list yourself online on the leading food delivery apps like Swiggy and Zomato to increase the base of your customers. You can increase the reach of yours by investing in a good geographical positioning of the Restaurant or Café, hygiene and other facilities.
16. Interior Design Firm
You can also invest in starting an interior design firm offering services for residential, commercial, or hospitality projects in Hyderabad’s booming real estate market. It is a business which can go hand in hand with the real estate business of the City of Hyderabad.
17. Language Training Institute
Teach foreign languages such as English, French, Spanish, or Mandarin to students, professionals, or travelers looking to enhance their language skills.
This business idea can be beneficial for various job seekers who are searching for jobs outside India, and the training acquired from your institution can be of great help to them.
18. Pet Care Services
In a busy city like Hyderabad, providing pet grooming, boarding, training, or veterinary services to meet the needs of Hyderabad’s pet owners can be a useful and advantageous business idea. Since most of the people in the city are working or busy with some kind of engagement, it becomes extremely difficult for them to look after their pets and give them high quality of grooming and other services required. Hence, starting up this business can be a blessing for the pet parents.
You can also set up a store along with the care centre, where all the necessities like nail clipper, leash, pet foods are available. This way you will be able to make profit in both the business with only one setup.
19. Software Consulting Firm
You can offer software consulting services such as IT infrastructure management, software development, or system integration to businesses in Hyderabad’s technology sector. Since a huge number of people with specialization in the software and IT department are coming to Hyderabad, you will also get a good number of qualified workers.
20. Transportation Solutions
Develop transportation solutions such as ride-sharing apps, electric vehicle rentals, or logistics services to address Hyderabad’s growing urban mobility needs. You can also try transportation solutions like battery-driven bi-cycles, or normal bi-cycles. This will save them from traffic as well and will help them maintain their physic, and most importantly your business idea will be a useful and helpful one for a huge number of people who arrive late most days because they are stuck in the heavy traffic of the city. It will be a cheap alternative to the highly-priced rides.
It is highly advisable that before starting any business, it is extremely important and essential to conduct thorough market research in whichever genre of industry you are keen on investing in and building the business.
Conclusion
It is highly advisable that before starting any business, it is extremely important and essential to conduct thorough market research in whichever genre of industry you are keen on investing in and building the business.
You are also required to assess the competition, and the market in such a way that you are easily able to calculate and have a strategy to establish your business. Furthermore, before you invest, you must identify your target audience’s needs and preferences. Pay close attention to what your target audience will be required to convert the audience into potential clients. Additionally, consider factors such as location, budget, legal requirements, and scalability to ensure the success and sustainability of your venture in Hyderabad. Every business set-up must be done after taking into account the target audience and where they are located.
Moreover, with the rise of digitalization across the globe, you will have to invest in a good social media presence. These include buying a domain, designing your webpage, and having a marketing team. The webpage must have all the required information about your business and high-quality content. Let’s not forget that it is the webpage that acts like a visiting card in the online world.
FAQs
- Step 1: Pick a business niche
- Step 2: Do extensive research about the niche
- Step 3: Get your business centric training
- Step 4: Write up a Project Strategy file and report
- Step 5: Gather Funding for your business
- Step 6: Select an ideal location for you set up
- Step 7: Register your business
- Step 8: Open a bank account in the name of the company
- Step 9: Hire Skilled Staff
- Step 10: Do marketing
The following are low budget businesses you can set up in Hyderabad:
- Event Management
- Blogging
- Interior Designing
- Home Healthcare Services
- Digital Marketing Agency
There are no exact criteria to determine the most successful small businesses in Hyderabad. However, given the economic returns and profits, one can ascertain the most successful small businesses in Hyderabad. They are:
- Staring up a Restaurant or Café
- Pet Caring Services
- Transportation
- Digital Marketing Solutions
- Digital Marketing Agency
Hyderabad presents a compelling destination for starting a business due to its robust economy, particularly in sectors like technology, its strategic location facilitating access to markets, a skilled workforce, government support for entrepreneurship, and a high quality of life at a relatively lower cost. Additionally, its rich cultural diversity fosters innovation and creativity, making it an ideal choice for aspiring entrepreneurs looking to establish and grow their ventures in a dynamic and supportive environment.
