Best Business to Start from Home

April 26, 2010 19 Comments

Question: I am pretty much interested in starting my own business. I have around 5 years of industry experience in the field of HR but am looking at doing something pretty opposite to what I’m doing currently. I have couple of business plans in my mind.

  1. Getting into agriculture (Organic farming or any thing else)
  2. Getting into manufacturing industry (want to start an Auto Disposable syringes factory)

I am from Andhra, request you to help me out in choosing the best option and also the ways in which I can start something (any kind of documentation would help)
Thanks

Answer:

  • I think that you must be having idea about the cost-benefit analysis and selection of the best option among various options. So just analyze above mentioned plans and you can take a better decision.
  • See, don’t confuse your self and think rationally about the opportunities and future prospectus. Always carryout a cost-benefit analysis before choosing any plan. The most important thing is the leverage. You should get the maximum leverage on the capital you are going to invest.
  • You can calculate the leverage with different assumed capacity and profit line. And set a BEP as well. If your plan seems to be dull, see to it that, is it crossing the BEP (Break Even Point?) Break Even Point is the point where you get no profit and no loss.
  • So just take care of above mentioned steps and then take your decisions. If you need any help, you can definitely ask questions. All the best.
    Thank you.

19 Comments »

  • Sridhar said:

    Hi,

    I am Interested in small scale industry in government contract projects, but I have no Idea about what to do,where i have to get these projects.

    Please let us know your views on this.

    Regards,

    Sridhar
    Karnataka,India.

    Reply This Comment

    Scott Wilson Reply:
    April 28th, 2010 at 7:36 pm

    Mr. Shridhar,
    First of all, there are many fields where government gives the contracts and get the work done. So which industry you are interested in? This question matters a lot here. Some of these projects can be
    Printing work,
    Manufacturing of Khadi,
    Rural warehousing,
    Construction projects,
    Social welfare projects,
    Manufacturing of wires,
    Carriers and Movers jobs,
    Labor providing contracts,
    Irrigation projects,
    Advertising agency on government owned sites,
    Statutory audit contracts etc.
    You select your interest area and let me know. I will definitely guide you.
    Thank you.

    Reply This Comment

    Sridhar Reply:
    May 1st, 2010 at 9:47 am

    Mr. Scott Thadeshwar,

    Thank you for above information,

    I have an interest on Construction projects & Rural warehousing because of i knew little things in this field; but not all.

    I request for more information about Construction projects & Rural warehousing & also websites links; where I can see the government tenders notifications of State/national.

    Once again thank you in advance for your valuable information,

    Best Regards,
    Sridhar

    Reply This Comment

    Scott Wilson Reply:
    May 2nd, 2010 at 8:16 am

    Mr. Sridher,
    Rural warehousing is an emerging and very new concept of business. In India, around 60% of the total population is from rural areas. So it is the mass market for big companies to target. There are so many opportunities in rural areas. The only thing is that it is difficult to reach this very vast and scattered market. Because Indian rural villages are very scattered and spread. So even if they start their own distribution channel, it would be difficult to handle everything to gather.
    There are government warehouses which reaches to only Mandi level. There are co-operative ware houses but they are only for their members. So there is a strong demand emerging for some warehousing agency. Government also helps for the same but it defers from state to state so for that you have to visit your state concerned authority. If you want any further assistance, you can surely ask questions. We are always here to guide you.
    Thank you.

    # 27 April 2010 at 9:36 pm
  • shyam said:

    i have a great idea for a new busieness whom to approach
    to start busieness

    Reply This Comment

    Scott Wilson Reply:
    April 30th, 2010 at 9:32 am

    Mr. Shyam,
    Tell me what’s the plan? And approach your self, you wil me more than motivated.
    Thank you.

    Reply This Comment

    # 30 April 2010 at 3:51 am
  • Ajith Philip said:

    Hai,

    I am thinking to start a ladies garment business,a small scale one at first.We are thinking about buying raw material(cotton and shiffon sarees) from Mumbai or Gujarat Market,making some attractive printings in the sarees and altering 50% of the printed stuff into churidars and other garments according to the trend.I am planning to spend something around 15k as an experiment.And if successful,I would like to expand it as a large scale business,with exporting and a distribution channel from manufacturer to the wholesalers and retailers.
    I want to know what all should i need to know before starting the venture.Also,the procedure for registering a company.

    Reply This Comment

    Scott Wilson Reply:
    May 3rd, 2010 at 11:11 pm

    Mr. Ajith,
    That is a brilliant idea man. The entire plan you have mentioned is perfect.
    I would like to suggest you that, first get the information of the market size, market preference, customer trends etc.
    Before carrying out any new venture first do cost-benefit analysis. That will provide you the numerical facts and you can take your decisions accordingly.
    If you need any more guidance, you can ask your questions.
    Thank you.

    Reply This Comment

    # 30 April 2010 at 10:41 am
  • chetan said:

    Hi,

    i want to start fast food cafe.
    but i m confuse to select place and procedure to start.

    Thanks
    Chetan
    Mumbai

    Reply This Comment

    Scott Wilson Reply:
    May 4th, 2010 at 8:47 pm

    Mr. Chetan,
    Nothing to get confused. Select such a place where there is mass public available. The area should be very frequently visited by people. It doesn’t matter weather there is any compitition or not.
    You just offer such things which are not available easily or which are new to public. You need to decorate your place to attract the public to tour restaurant.
    Just take care of these things and ask questions of you have.
    Thank you.

    Reply This Comment

    # 4 May 2010 at 10:54 am
  • chetan said:

    please advice if any other samall business. which require less funds.3

    Thanks

    Reply This Comment

    Scott Wilson Reply:
    May 4th, 2010 at 8:50 pm

    Mr. Chetan you just follow this link and read the comments posted over there.
    http://www.professionz.com/in/jobs-in-india/how-to-start-a-small-business.html
    You will get enough information.
    Thank you.

    Reply This Comment

    # 4 May 2010 at 10:56 am
  • chetan said:

    hi sir,

    I want to start the data Entry work agency but i am not able to find the proper sources from where i can get the Data entry work. to set up the data entry work agency business.

    Thanks

    Chetan

    Reply This Comment

    Scott Wilson Reply:
    May 8th, 2010 at 1:00 am

    Mr. Chetan,
    I understood your problem and it is not only your prblem, many others are facing the ame thing. You need to have some contacts with big data firms or overseas parties. If you have experience from any data firm as a worker, you may get better idea about this.
    Thank you.

    Reply This Comment

    # 5 May 2010 at 11:26 am
  • girish said:

    Hi Scott,

    I am BE graduate having 1+ years of experience in PLC.
    I want to start A small scale business of designing greeting cards and brochure. My budget is 60,000 please help me with some odea how to proceed from wher i will get orders.

    Reply This Comment

    Scott Wilson Reply:
    May 12th, 2010 at 7:51 am

    Mr. Girish,
    This is a very good idea and innovative as well. If you don’t know, let me tell you that this is one of the best businesses to start from home. One Indian designer got the contract of the brochures and invitation card’s priinting for U.S president’s first speech at white house. This deal was done online and you can do the same.
    You can place your own website on the web and get customers. Rs. 60000 is a decent amount to invest and it is more than enough for online business.
    Thank you.

    Reply This Comment

    # 12 May 2010 at 5:51 am
  • prakash kharola said:

    i am 21 years old boy. i live in dehradun currently i am living in japan. my father has 2 indain restarunt here but the sale of the month is very less.
    i have done 12th and 2 years diploma of computer in india .
    now i am thining to do something business in india
    so can anyone suggest to me.

    Reply This Comment

    Scott Wilson Reply:
    May 25th, 2010 at 8:31 pm

    Mr. Prakash,
    There is a special column for small business in this website. here is the link
    http://www.professionz.com/in/jobs-in-india/how-to-start-a-small-business.html
    You will get many ideas from here.
    Thank you.

    Reply This Comment

    # 24 May 2010 at 9:23 pm
  • S N said:

    I am pursuing an MBA (Finance), currently I am not working what should I do? Can you list down some best business to start in 2010? I am really interested in starting my own business.

    Reply This Comment

    # 18 August 2010 at 11:37 am

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