Profitable Ideas for Starting a Business in Bihar
Bihar is one of the most fertile states of India and is known for its agricultural base and livestock farming in addition to its abundant untapped resources. It is one of the leading producers of pulses, cotton yarn, shoes and electrical goods. Additionally, it exports vegetables and milk and imports rice, cotton, iron, food grain and wheat. The state has also been blessed with the country’s best fishing grounds and a healthy cattle population. Additionally there is no shortage of cheap labour. There are more than 90,000 weavers in Bihar with Gaya being one of the prominent areas having 8000 weavers. Bhagalpur is also famous all over the country for its silk. Traditional handlooms can be found in many districts of Bihar such as Nalanda, Siwan, Bhagalpur, Gaya, Patna and Darbhanga. Bihar has all the merits of being one of the fastest developing states of India. Hence if you are looking for states to start a new business in, Bihar may be the answer. Here are some of the best business ideas in Bihar that you can immediately start:
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1. Wheat Processing
You can start a wheat processing shop or chakki very easily in Bihar. To begin all you need is a storage space and grain processing machine. This is a very low investment business with very high chances of profit. The main investment is needed for buying a grain processing unit, rent money for a place to install your machine and monthly electricity bill. A Wheat processing machine has a long life, so you don’t need to buy it again and again and moreover it requires very low maintenance. The price of a wheat processing machine depends on its capacity (how much quantity it can process in one go). You need to do some research on the internet or contact the dealers before purchasing the right machinery.
2. Car Wash Business
Bihar has a real scarcity of car wash companies even though it has a growing number of vehicles. The most important requirements for starting a car wash business includes getting all the necessary permits and licenses, a plot of land for placing all the equipment, automated car washing equipment and finding skilled staff. These are also the things that would require the most investment with the highest capital going to machinery and equipment. Visit this website to learn more.
3. Renting Agency
Renting services is not a new concept. However, it has grown by leaps and bounds lately due to the internet and countless online platforms. With just a website and some online marketing, you can start your own renting agency. People now prefer renting to buying since it saves a lot of money. You can start your business by renting anything you want starting from furniture, bikes, books car to toys and clothes.
As Bihar is rapidly developing, there is an opportunity to open new modern restaurants. While starting a restaurant business can be expensive, however, due to lack of strict competition you can be sure of good ROI. Depending on your budget you can open any type of restaurant. It could be anything from a café to a pizza house.