Despite the adverse effects of the pandemic on the overall economy, there are certain segments and businesses which have continued to grow and offer excellent low-cost opportunities for business seekers. Read on to know the best low-cost business opportunities and what is required to get started.
Coronavirus has incited exceptional interruptions across various franchise businesses globally. From suspending flights to restricting the travelling of people and vehicles, it has had a huge impact on the Indian economy since the Great Depression. Probably all the economies around the world are battling to cope up with a situation in the wake of an unprecedented demand shock and a closure of all key economic activities that drive development.
However, some entrepreneurs are leveraging these circumstances as an opportunity to invest and grow the business. In fact, low-cost franchises appear to be a great opportunity. Low-cost franchises have many benefits and a lot of reasons why you should opt for one, as they are affordable, can bring faster profit, don't require a lot of staff, and have low risks and high scalability.
For these low-cost franchises, the pandemic has surely provided a fruitful ground for great development that will become the norm in a post-Covid-19 world. Here's looking at the best low-cost franchises in India:
Online education, tutoring, and web courses have become the need of the hour when schools and educational institutions are not open. The online education sector is noticing sudden attention from people of various backgrounds. People are looking towards options of regular online teaching and learning.
Further, people are scared to send their children and youngsters to places where social distancing can't be followed and henceforth the Edtech franchises are tapping on each conceivable element they can. Edtech segment offers some best low-cost franchises, to begin with. It requires a business mind and a will to achieve your goals. A few of the best low-cost franchises in the Edtech sector are Topper Learning, upGrad, Whitehat jr., and so forth. The initial investment can be from Rs 6-30 lakhs.
With the ongoing situation of covid-19, it's a great opportunity for entrepreneurs to invest in the food supplements franchises. It is one of the best low-cost franchising options available today.
With the Covid-19 scare, people are getting serious to increase their immunity and are looking forward to options to keep them healthy and fit. Hence, food supplements are seeing increasing demand from consumers and could be a good franchise option. There are some best low-cost franchises in the food supplements segment in which one only needs a good knowledge of supplementation and nutrition. Franchises of brands such as BBI, NEULIFE, and Balance Nutrition require an initial investment of Rs 10 to 20 lakhs.
Logistics and Delivery
As the public lockdown was forced across the nation and social distancing became a norm, Logistics and Delivery services became crucial for people’s lives and business continuity. This is one of the few sectors which saw robust growth in these difficult times too. This is the reason people are investing in Logistics and Delivery based franchises and making good profits.
Logistics and delivery firms have also modified their processes to offer zero-contact deliveries and are following covid-19 guidelines. Few of the low-cost franchises in the logistics and delivery sector are DTDC, Delhivery, Inxpress, Ekart Logistics, Tracxpress Distribution Solutions. Their initial investments can be from Rs 2 to 10 lakhs.
Another significant business area which is picking up considerably is pharmacy stores. Indeed, pharma stores in proximity have become a necessity owing to the current pandemic as people are highly concerned about their health. People of every age are taking medicines and immunity boosters to keep up with their health. Hence, pharma stores offer a bright and profit-making franchise opportunity for entrepreneurs.
A few of the low-cost pharma store franchise opportunities include Dava India, Medplus, and Sanjeevni Medicos. The initial investment for these franchises starts from Rs 2-3 lakhs and can go up to Rs 15 to 30 lakhs.
Pathological labs and collection centers have been high demand business prospects with the growing patients and awareness towards preventive health check-up. Moreover, the Covid-19 pandemic has proved to be a great accelerator of the pathological lab business with thousands of patients lining up to get them tested for corona.
Hence, pathological lab franchises present a big opportunity to tap for business seekers. Few of the prominent brands offering franchises for collection centers include Apollo Diagnostics, SRL Diagnostics, and Dr. Lal pathlabs. The initial investment required for collection centers is Rs 3-5 lakhs.
While the economic conditions are improving fast, experts see a far-reaching unemployment scenario for the next few quarters. The low-cost franchises mentioned above present a bright opportunity that caters to the essential commodities and are witnessing high demand. One can easily go for any of the above mentioned low-cost franchise options without any doubt as they will keep on sparkling even in the cloudiest of weather.