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Top 6 Businesses To Start If I Have 1000 Sq Ft Area At Prime Location

Top 6 Businesses To Start If I Have 1000 Sq Ft Area At Prime Location

By Startup Authority

Businesses today are primarily working on their prime location and also some marketing strategies as well. If you have a great location in mind which has got at least a 1000 sq ft area and is located in a prime location then you can utilize the place by starting a trendy business. In the business world, any business is a trendy business and if you want to start your business from scratch then you must start today.

Here in this article, we will look at some of the low competition business ideas that you could start if you have 1000 sq ft space at a prime location. There are many franchises that you can wish to take but the investment would be huge depending on the goodwill and brand of the company that you wish to take. Here are some top 6 simple business ideas that you can start. 

Education Centre 

One of the never-ending businesses is the education business. The education business is also one of the never-out-of-fashion businesses that you can start today if you have got a prime location ready. You can take franchisees from school students to companies working in Engineering, medicine, or management.

The minimum investment would be around INR 2 lacs to INR 5 lacs with a minimum space required of 1000 sq ft. You can turn it into a private coaching center by hiring professional teachers to teach students and being in a prime location will give your business the most advantage. 

Retail Business

Another trendy business is the retail business. There are a lot of brands in the market that sell their goods to people through networking or chain system. You could be one of them and be the prime retailer of many reputed brands. Today the retail sector is meeting all the needs from food to drink and to everyday needs. During the pandemic period, it was the retailers who had conducted very good business where most large companies had to shut down due to the spread of the coronavirus. 

You can also look to open franchises like in the FMCG sector, a supermarket for the common people to purchase daily items, and a consumer electronics and appliances store. A franchise could be a costly option but if you wish to open one then you can do so considering the fact that it will be in a prime location thus bringing a good number of customers to your store every day. 

IT Services 

The service industry is yet one of the most demanding and one of the most booming industries in the world. A country like India, which is a developing nation needs IT service companies and you could start one today. You can take franchises for IT services and set up your business in the area where you intend to open. You can offer services in Advertisement and media, logistics services, IT services, consultancy services, financial services, and many more. 

It Services business

Expect an investment of at least INR 5 lacs to INR 10 lacs in this type of business but in the long run, it would be a profitable business and you will be earning a good amount of revenue each year. If you do not have much idea about IT services then you must do a proper research on this field. 

Warehousing & Inventory Management For E-Commerce

The e-commerce warehouse management company will provide a supply of e-commerce stores. Instead of setting up an e-commerce store, one could go for its distribution channel, purchasing a fleet of trucks and warehouses for the storage of goods. The company will be doing it all for them. 

Now, with the increase in demand for online shopping, you can offer your place for warehousing and inventory management purposes. You can tie up with the company or brand that you wish to tie up with and become their warehousing partner. It is a business opportunity with minimal investment and with a huge profit margin. 

Mobile Recharge, DTH Recharge, Online Transfer Shop

Another business idea that you can easily start is setting up a shop for online mobile recharges, payment of bills, online money transfers, online ticket bookings, hotel bookings, flight bookings, and many more. Along with this, you could also set up a travel agency which will occupy the remaining space after setting up the primary shop.

Being located in a prime location will give your business an added benefit because there are a lot of people who want these kinds of services immediately and you can do that and charge a commission in exchange for your services. 

Now, most people would think that the profit margin is low for such kind of business but it is a good business idea to start immediately with a minimum investment amount. Not every business enjoys success overnight as it takes time for customers to build their trust in your business. 

Rental Taxi Service Company 

Your prime location and a 1000 sq ft space are enough to open a rental taxi service company. It is one of the most demanding and profitable business ideas you can start today. Many online cab companies offer franchisees to run taxis in the market and you can be one of them. Do proper research on this field and get to know about the market properly. 

Even though the investment could be a whopping amount but in the end it will all be worth it. A Taxi Rental service company would be one of the best business ideas to start today. If you are not an expert then you can seek advice and counseling so that you know about this type of business.