Want to know about Business Ideas in Punjab? Well you have landed on the right article
Punjab is ranked as the sixteenth largest economic state and is known to be the most popular and fast-growing
economy among the states of India. Its development has been aided by well-developed infrastructure, transportation, and communication systems.
Reasons to start a business in Punjab:
1.Punjab has the eighth-highest Human Development Index among Indian states, according to a 2018 study.
2.In the financial year 2020-2021, the Gross Domestic Product (GDP) was Rs 5.29 lakh Crore.
3.Punjab has numerous geographical qualities that provide the state with significant economic benefits in the agriculture and tourism industries. It provides the easiest steps for beginning any business.
In this guide, we ranked and reviewed the 25 best business ideas in Punjab, along with our top 3 choices, so that you can pick the best one for you.
Automobile Business
(Best Business Idea)
Overall Rating: 4/5
Food Processing: The primary activity of the state is agriculture so the scope of food processing in Punjab is vast.
Travel and Tourism
(Best Business Idea)
Overall Rating: 3/5
A travel agency could be opened that provides tour facilities, transport facilities, and guidance to the tourists.
Photography Business
(Best Business Idea)
Overall Rating: 5/5
With pre-wedding shoots, baby showers, and pregnancy shoots becoming increasingly popular, a photography business can be transformed into a long-term profitable venture.
25 Business Ideas in Punjab
10 Business Ideas in Punjab in 2022
1. Agro-based Business
Food Processing: The primary activity of the state is agriculture so the scope of food processing in Punjab is vast.
Dairy Products: The small-scale business of dairy products can prove to be significantly productive in Punjab since dishes made from milk or milk products are used on every festive occasion.
Through proper licensing, a dairy business could be one of the best ideas in Punjab.
Flour Production: With wheat being the state's most important crop, long-term investment and the right technology can assist the state's flour production to develop. As a result, diving in can be a very futuristic endeavour.
Live-stock Feed Production: Since live-stock forms an essential asset when it comes to the occupation of agriculture. Hence, wealthy farmers spend a significant amount of money on livestock
feed.
With a minimal investment, one can start a livestock feed manufacturing or retail business in Punjab.
Offer Farm Equipment Lease: One can be benefited from this as well as small farmers who may not always be able to afford new agricultural equipment can get their benefits like tractors, sprayers, threshers on a rental basis, etc.
Open a Seed and Feed Store: Most farmers prefer to buy plant seeds, grafts, animal feed, fertilisers, and pesticides from local businesses, but a new generation of internet-savvy farmers is on the way.
Start an Organic Produce Store: Organic farming can be done on one's own land and sold to regional, national, and international markets.
Investment needed: An investment of Rs 25000-50000 can be used to start.
2. Automobile Business
Automotive Sale: The selling of spare parts for automobiles is one of the important functions of the automobile industry.
It has gained immense importance. Punjab is well suited for this.
Car Washing: Requiring a medium investment, this service is among the new business ideas in Punjab.
The cleanliness of a vehicle is maintained by regular washing so the scope of this business is also vast.
Servicing Centres: Vehicle servicing is an important aspect of routine vehicle maintenance, and consumers are worried about the health and maintenance of their moving assets no matter how much it costs.
Servicing centres can be successful if one has adequate field knowledge and a sound financial plan.
Automobile Repairing Business: Automobile repairing includes repairing by technicians and mechanics. Other services like changing oil, changing spark plugs, removing dents, etc. are also included.
Investment needed: An investment of Rs 15-20 lakh is required.
3. Textiles, Garment Manufacture and Apparel Business
Phulkari is a traditional weaving pattern that incorporates delicate embroidery and embroidery on dupattas and shawls.
In Punjab, around 200,000 women are engaged in the phulkari industry.
A proper marketing strategy and plan could help develop this business idea and help generate more profit.
A few years ago Jasbir Kaur of Thuha village in Patiala district along with her two companions Suresh Rani and Pratibha Rani set an example by being a part of 50 self-help groups (SHGs).
They have earned recognition at national and international forums for propagating the idea of Phulkari.
Investment needed: An investment of Rs 10000-30000 is required.
4. Travel and Tourism
Travel Agent: A travel agency could be opened that provides tour facilities, transport facilities, and guidance to the tourists.
This would smooth the tour of the visitors and make their journey and travel simplified.
Tour Guide: With minimal investment, required qualifications, and detailed knowledge of places one can become a tour guide and provide the necessary services required.
Homestay Services: Often it is seen that staying at a new location without planning or prior booking causes trouble for the visitors.
Homestay Services is the ideal business concept in Punjab because the state's tourism industry is booming.
People nowadays prefer to stay with family and have a more comfortable and home-like experience during their vacations, therefore this may be a lucrative business opportunity.
With an online business, one may have the accommodation rented on various sites such as Airbnb, where one will get a lot of inquiries and consumers.
Investment needed: An investment of Rs 80000-8000000 is required.
5. Open a Dhaba
Dhaba and lassi are inextricably linked with Punjab.
There's something special about a Dhaba's atmosphere that one won't find anywhere else. The food, of course, is to die for.
How to start the business:
Opening a Dhaba could be a successful business in Punjab if some aspects are taken care of like the taste, quality, and price of the food served.
Preferring a Dhaba on highways can be considered a viable option as people travelling like to have good and healthy food to enable a smooth journey.
Investment needed: An investment of Rs 5-25 lakh is required.
6. Beverage Production unit
If someone is looking for business ideas in Punjab, he should try starting a beverage production plant.
It is one of the best low-cost business opportunities in Punjab.
How to start the business:
A beverage production unit could be a very good business if it targets the sports athletes more apart from targeting the generic audience.
A large variety of drinks are preferred by them and by promoting the brand and providing the customers with quality products at a reasonable price this business could be successful in Punjab.
Investment needed: An investment of Rs 30 lakhs-1 crore is required
7. Start a Drop-shipping Business
In order to omit the need for a company to retain inventory on hand, a phenomenon called drop-shipping is now being promoted, which is an order fulfilment process.
The store sells the item and then sends the sales order to a third-party
vendor, who then ships the product to the customer.
How to start a business: For a newcomer in the world of an online company, accomplishing everything at once could seem like an unduly difficult chore.
Purchasing products and storing them, maintaining inventory, shipping, renting space for business, and managing the generic operations of a business might all be a bit much for some people.
Investment needed: An investment of Rs 30000-50000 is required.
8. Event Mаnаgement
Event management has been there at all times but now it has gained proper recognition due to the difficulties and challenges involved.
How to start the business: Examples of events are marriages, functions, ceremonies, seminars, etc.
These involve a lot of technicalities like good planning skills, determining one's event planning market, taking care of internal departments involved like lights, sounds, décor, etc.
Punjab is famous for having weddings that need a lot of planning to do. So this could be a good business opportunity and an online portal for such a business can do wonders if planned properly.
Investment needed: An investment of Rs 1-3 lakhs /month (running cost) is required.
9. Security Service Agency
Punjab is developed industrially and commercially which makes the security service business highly potential in the state.
Security services are not limited to finite options. Security Services, Technical Services, Event Management Services, Fire Fighting Services, Training for Security officers, etc. are some of the services that can be provided in such an agency.
How to start the business: Starting a business venture in this field or even providing recruits to already existing agencies can be a successful business.
This could increase employability in Punjab and that would also convince youth to do more for their state.
Investment needed: An investment of Rs 1.5-3 lakh is required.
10. Vocational Training Institutes
Individuals are prepared for jobs through vocational education. It has a sufficient number of job opportunities.
It also aids in the expansion of one's horizons. People are already struggling in finding jobs or finding the right jobs for their profiles.
A vocational training institute can help them find their place in the job world and would also help them acquire skills that are important to have.
How to start the business:
A vocational training institute business idea can be a big hit in Punjab as students are unaware of the numerous job opportunities available that they can easily get.
Investment needed: An investment of Rs 1-5 lakhs is required.
11. Photography Business
With pre-wedding shoots, baby showers, and pregnancy shoots becoming increasingly popular, a photography business can be transformed into a long-term profitable venture.
How to start the business: One will, however, need to devote some time to learning how to take and edit photographs and movies.
There are a plethora of free online resources from which one can study and improve one’s talents.
If one can't afford a camera and other equipment, he can either work with a photographer to obtain expertise while saving money for the equipment or rent the equipment.
Investment needed: An investment of Rs 3-15 lakhs is required.
12. Aluminium foil business
Aluminium foil is a product that is used in almost every household to wrap food items in order to keep them warm.
One such example is its daily usage in lunchboxes given to children. Nowadays, everyone uses aluminium foil, and it is a product that isn't particularly branded.
How to start the business: One can either create one’s own aluminium foil or sell it to retailers, or one can become a retailer and sell it directly to customers.
This business has a high-profit margin, and one can make a lot of money if you do it right.
Investment needed: An investment of Rs 18-20 lakhs is required.
13. Bakery Business
In Punjab, the food business is almost free of recession. Hence, starting a bakery could be a good option.
Apart from standard baked items such as cakes, pastries, and cookies, gourmet baking recipes such as vegan cookies, gluten-free cakes, keto cakes, and cookies can also be sold.
How to start the business: In Punjab, there are enough health-conscious foodies to keep a bakery business afloat.
For expatriate Punjabis, an internet bakery would be the most convenient way to send tasty treats back home.
Investment needed: An investment of Rs 5-15 lakhs is required.
14. Offer Catering Services
Customers' bulk order needs can be met by starting a catering service for private and professional parties.
Invest in a cook-and-serve system, and then launch the catering service via an online store.
How to start the business: One can either take care of the food preparation part of the business himself or employ a chef and servers, which would let one focus on marketing and management.
Another option is to start a cloud kitchen, where food may be prepared at home and then delivered to clients' doorsteps by taking orders over the phone, using a mobile app, or online.
Investment needed: Approximate investment of Rs 20 lakhs is required.
15. Open a Gym
The culture of working out and staying fit has changed massively and people are intended to stay fit and maintain a healthy body.
How to start the business: Opening a gym where they can do rigorous workouts is a good business idea.
If one is not sure about starting a gym but has the cash, he might purchase a franchisee of a well-known brand such as cult fit and work on his idea of opening a gym.
Maintaining good equipment and providing necessary space in the gym can be treated as important while starting this venture.
Investment needed: An initial investment of Rs 5-50 lakhs is required.
16. Open a Full-Service Sports Store
Punjab is a major producer and trader of sporting goods. As a result, it may no longer be a novel business concept. But a need can be created to run a business.
How to start the business: It can be given a modern twist by opening a full-service sporting goods store.
Customers can come in to look at sporting products and speak with your knowledgeable staff about which equipment is ideal for them and which is not.
One can even offer sports equipment, apparel, accessories, and athleisure to the general public by putting the entire sports store online.
Investment needed: An initial investment of Rs 2-5 lakhs is required.
17. Start a Thrift Store
The people of Punjab are fond of fashion; therefore this may be a rich opportunity.
One can open a thrift store where he can offer unique items or knock-offs of well-known brands so that everyone can look amazing while staying current with quick fashion trends.
How to start the business: For this business, one can employ the drop-shipping model and make use of online markets and e-Commerce platforms to get started.
The advantage of opening a thrift store is that people will come looking for novelty, and varieties at a cheaper price.
Investment needed: An initial investment of Rs 20,000-2 lakhs is required.
18. Sell Home Decor Products
The vibe atmosphere one lives in influences his thought process a lot.
Everyone enjoys decorating their homes, but gone are the days when individuals could just buy anything they wanted and put it all together in their homes.
How to start the business: People nowadays want to build their house interiors around a theme and then add decor items to complement them.
One may turn it into a profitable business by purchasing high-quality decorative materials and selling them to interior designers or working directly with consumers.
Investment needed: An initial investment of Rs 25 lakhs is required.
19. Sell Beauty & Wellness Products
One can design and launch his brand of personal care goods if he has a large enough customer base. Females can be the primarily targeted customers.
How to start the business: If a person enjoys makeup and personal care, he can start a business in this field.
All he has to do is find the greatest beauty and wellness items from wholesale vendors and sell them through an internet store.
To give value to clients, offer product usage recommendations or items with
distinctive characteristics such as ayurvedic, paraben-free, cruelty-free, organic, no-plastic packaging, and so on.
Investment needed: An initial investment of Rs 1-2 lakhs is required.
20. Wedding Planners
Most families prefer to employ a wedding planner rather than handle everything themselves.
Despite being a successful business opportunity, planning a wedding may be a cumbersome task due to the wide range of arrangements that must be made, including food, décor, attendees, music, invitations, venues, and event photography.
How to start the business: If one wants to be a wedding planner, it's best to start with low-cost weddings and work one’s way up to typical huge fat weddings after gaining some expertise. This is one of Punjab's top business ideas.
Investment needed: An initial cost of Rs 5-15 lakhs is required for wedding plan business.
21. Food and Beverage Distributor
Packaged food and drinks have surely taken over due to various reasons like paucity of time, extra-human efforts etc.
Punjab also offers significant food and beverage distributorship opportunities due to the abundance of retail establishments, hotels, restaurants as well as Dhabas along highways.
How to start the business: One can either start one's own distribution network or operate as a wholesaler for a specific company.
This could be a good business as stores are occupied with packaged stuff and the new generation is more inclined towards buying these.
Investment needed: A minimum investment of Rs 5-6 lakhs is required.
22. Open Warehouses & Cold Storages
If one does not want to invest in machinery or industrial space but has extra room, storage may be the best option.
How to start the business: With the volume of agricultural output produced in Punjab, farmers and other enterprises require specifically built storage facilities to keep the products safe and fresh.
One can construct a major storage facility, a full-service warehouse, or a specialised section with a cold-storage option, on his site.
Investment needed: Then, via the internet, lease or rent it out to private and institutional consumers. A minimum investment of Rs 30-40 lakhs is required.
23. Pet Sitting and Grooming Services
How to start the business: One can open a pet sitting and grooming service in his backyard to take his passion for animals to the next level.
Despite being niche markets, the people of Punjab adore their dogs and are willing to spend to provide them with the best care.
Investment needed: No particular investment is needed as such all they need is some basic grooming equipment, a place to keep their pets, and professional experience working with animals of all kinds.
24. Home Tutors/Coaching
Students are currently on the hunt for guides and mentors who can assist them in their academic endeavours.
How to start the business: Children even after studying in good schools and colleges require coaching and tuition to clear their basics.
So this business can be very profitable if one gains a word of mouth or does proper marketing for this business.
Investment needed: One may start this business with very little money by just posting a sign outside one’s house or networking with one’s relatives and friends.
This is one of Punjab's low-cost business opportunities that can be capitalised on.
Prerequisites to start a business in Punjab
Some of the prerequisites to start a business in Punjab are as follows:
- Recognize the state's economic development and the demands of its residents.
- Recognize the kind of company one wishes to start.
- Understand the state's government rules, regulations, and laws.
- Recognize the state's tax policies.
- Examine one’s company's licence requirements.
- Examine the financial help that will be necessary, as well as its availability.
- Get a thorough understanding of the numerous registrations and legal procedures that will be required to establish the firm.
- Create an effective marketing and pricing plan.
- Prepare a detailed plan for one’s land and equipment purchases.
- Depending on the size of one’s company, one must build a robust crew.
- Checking the company’s name availability.
- Must be acquainted with labour laws.
Conclusion
Punjab has a lot of potential for both big and small businesses because of its geographical location and environmental attributes.
Before beginning any business venture in the state, it is critical to thoroughly research the industry and its requirements.
Develop a thorough awareness of archaeological monuments, their historical significance, well-developed transportation and communication networks, and adequate infrastructure.
One must learn about the state's rich history and culture so he can conceive of any firm that can make use of these aspects while also benefiting the economy and society, resulting in increased profits and earnings.
I hope you liked our article on Business Ideas in Punjab, if you have any comments or suggestions do share them in the comments below.
frequently asked question
Q1. What are the businesses in Punjab?
There are a lot of businesses that can run in Punjab. Punjab has a lot of lands and untapped capital lying to be used. Some of the industries that can be explored are event management, Dhaba business, gym, agriculture, etc.
Q2. What are the most successful small businesses?
Tutoring services, personal training, and fitness instructors, sports instructors are some profitable small businesses. These can be considered while starting a business.
Q3. Which business can I start with 50,000?
Tiffin or food delivery services, food trucks, tutoring, wedding planners, and photography are some businesses that can be started with an initial capital of 50,000.
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