The commercial capital of India is one of the best places to start a business. It has something for everyone who comes here. So, if you’re planning to start a business, Mumbai is the best place! Without further ado, let’s explore the top 10 best businesses to start in Mumbai.
Business opportunities in Mumbai
The following are the best business ideas you can cultivate in Mumbai.
1. Spa and Salon
People nowadays know the value of looking put-together and well-maintained. Being home to the alluring film fraternity and aspiring actors, a spa business is one of the best business ideas in Mumbai.
If you have a background in this industry, you know the potential this business has in a big city. If there’s any city that prizes glamour and good looks, it’s Mumbai.
2. Event Management
For those who enjoy planning and networking with people, this is the best business to start in Mumbai.
Metropolitan cities cater to varied interests. Whether it’s charity functions, weddings or corporate parties, event managers are required for all. This is especially an interesting business opportunity in Mumbai because of the clientele you will find.
Parties and dos are celebrity favourites and expensive affairs. So, if you take off with this idea, you’ll be bringing in the big bucks in no time.
3. Travel and Tourism
Mumbai has a rich heritage with a modern, commercial atmosphere that is rare to find anywhere else in the country.
With iconic places like the Gateway of India, Taj Hotel, Marine Drive and film city, Bombay welcomes domestic as well as international tourists in bulk each year.
A tourism company is a profitable business to start in Mumbai. You can offer services like sightseeing travel guides and packages so that your customers experience this great city authentically.
4. Investment portfolio manager
Mumbai is home to the Bombay Stock Exchange (BSE). So, naturally, people here are curious about investments and stock trading.
Additionally, financial awareness among Indians is also on the rise, seeing that the amount of dematerialised accounts in India has jumped by 63% in FY22.
People that move to Mumbai for work often lead fast lives and can’t dedicate enough time to managing their money. This makes them turn to professionals who can help them understand and grow their money. So, if you have a background in this sector, becoming a stock broker is one of the best business ideas in Mumbai for you.
5. Fitness Trainer
This is the bestnew business idea in Mumbai for fitness enthusiasts, hands down. Not only does this have low start-up costs, but it can prove to have high returns as well, especially in today’s times. A survey conducted by Intermiles found that 50% of Indians began exercising more regularly during the pandemic. And once you see the results, you don’t quit, do you?
You can run this business physically as well as through the internet. All you need is a laptop and a quiet place from where you can conduct live sessions or shoot videos to upload to your customers.
6. Vlogger
With the internet, what is not possible? Vlogging is a new business idea in Mumbai which is ideal for the social media star in you. All it requires is a camera or a smartphone and a platform to upload your content.
By becoming a vlogger, you can travel around Mumbai, sharing your day through your lens with people around the world curious about this much-talked-about Indian city. Mumbai is a big city with many hidden gems in terms of culture, food and heritage. You can offer a window into all of this by becoming a Vlogger.
7. Catering business
Good food can wash away the grime of a bad day in a matter of seconds, and so if you have the skills to wield this superpower, this could be an exciting business opportunity in Mumbai foryou.
Cooking food and snacks takes time and effort that party hosts are not always able to afford. And so they often hire catering businesses to meet their needs.
We recommend you start small. Take small birthday and kitty party orders. This will give you manageable work and help you develop a perfect menu when you start pitching for bigger projects.
8. Freelance make-up artist
Becoming a make-up artist is one of the best businesses to start in Mumbai. There are terrific demand thanks to the city being the glamour hub of the country. If you have the talent and skills for this job, finding clients is easy enough. With the number of events that take place here, people are always in need of a professional’s magic brush.
If you go ahead with this new business idea in Mumbai, we advise you to advertise your services online through social media platforms to gain customers fast.
9. Online Tutor
If you’re someone who enjoys teaching, becoming an online tutor is a great business opportunity in Mumbai for you. It has low operation costs, is internet dependent and flexible, making it ideal for a city notorious for its distances and traffic jams.
Online tutoring doesn’t have to mean only academic teachings only. If there is a skill you are proficient in, you can offer classes in it. This could be baking, painting, playing a musical instrument or even efficient marketing techniques. The avenues are endless.
Furthermore, you decide the syllabus, duration of the class and the size of classes as well. You can offer personal as well as group classes at your convenience.
10. Homestays
Hosting people at your house is yet another new business idea in Mumbai. People travel for business and pleasure to Mumbai. And not always do they prefer hotels for their short visits.
At such times, authentic Mumbai homes prove to be a god-sent alternative. Not only are they generally more conveniently located and less noisy, but they are also much more cost-effective.
So, if you are someone who is proficient in hosting guests and making them feel comfortable, this is your best business to start in Mumbai.
Wrapping up
Mumbai is also known as the city of dreams. And for a good reason. If dreams can be fulfilled anywhere, it’s in Bombay! People travel from far and wide to make their name here because of the opportunities this city offers. We have shared the best business ideas in Mumbai so that you can kickstart your journey today!
Although starting your own business is a brilliant idea, it can be taxing, especially in financial terms. That is why financial institutions like Tata Capital offer business loans at attractive interest rates. Now, you can invest in the bestbusiness opportunities in Mumbaistress-free. Visit our website to apply for a loan today!
25 September 2024
6 mins read
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