Bangalore, also called Bengaluru, is a city in Karnataka, situated in the southern part of the Indian subcontinent. Termed the Silicon Valley of India, Bangalore is the first choice for established businesses and startups to grow their business. The city attracts much investment from international and national investors and is one of the fastest-growing state capitals in India. Today, we have brought you some of the best businesses you can start in Bangalore.
Key Insights of Bangalore
|Bangalore GDP||$110 billion|
Pros & Cons of Starting a Business in Bangalore
- Growth Prospects: As we mentioned above, Bangalore is one of the most loved locations for investors due to the potential for huge returns. The city contributes more than 48% of Karnataka’s GDP and provides more than 98% of the state’s software exports. Bangalore’s GDP is expected to touch about USD 240 billion in FY 22-23, which is huge, considering it is a city and not even a state.
- Infrastructure: Everything a business may need is already set up in Bangalore. Venture capitalists, incubators, investors, lenders, MNC headquarters, etc., are available within the city. Bangalore is famous for its IT outsourcing services, and most of the international MNCs have settled within the city due to its great working environment.
- Government Schemes: Due to its immaculate importance in growing the economy of Karnataka and India, the state and central government have paid close attention to removing any inhibition that stands in the way of its development.
- Weather: Bangalore has moderate weather throughout the year due to its unique geographical location. The place is perfect for most people as they do not have to face extreme summer or winter like in the other parts of the country. The moderate climate makes the city a pleasant place to build your business.
- Greenery: Casually termed the Garden City of India, Bangalore is lush with green gardens, fountains, and lakes. The city has more than 1,200 developed parks across different locations. Building a new business can be stressful and corporate pressure can affect an entrepreneur’s mental health. These green spaces provide a way for you to cut away from the noise and enjoy a moment of silence.
- Competition: Due to its huge returns, Bangalore has been approached by an increasing number of entrepreneurs and employees, ultimately leading to an uptick in competition. Every industry, from IT & manufacturing to hotels & restaurants, has seen immense competition, making it harder for new startups to survive.
- Traffic: New businesses require regular meetings and interviews. Bangalore is among the world’s top 10 most congested cities, making it harder for people to commute. During the rainy season, the city can get clogged up, and transportation may be hampered partially or completely.
- Expensive: Like any other developed city in India or the world, Bangalore is quite expensive. It can be the cost of starting your business, residence, food, transportation, or anything else. You might have to pay extra bucks to live a decent life in the Indian Silicon Valley.
- Dense Population: Even after being expensive, Bangalore is the preferred location for many people out there who are looking to fulfil their dream. Due to limited space in the city, there is always a space crunch, and new entrees may have to settle for congested apartments or workspaces.
Now that we have discussed the pros and cons of starting a business in Bangalore let us discuss the main thing we are all here for.
List of 20 Best Business Ideas in Bangalore
1. Affiliate Marketing
One of the newer and fastest emerging forms of marketing, affiliate marketing, is a collaboration between a marketer and an online retailer. The marketer gets a commission with every sale that comes in. Affiliate marketing can be one of the easiest and fastest ways to make money in Bangalore. The city is tech-savvy, and most people have a smartphone. That is all you need to become an affiliate marketer. You can start creating content online on any platform of your choice and promote products to your audience.
Bangalore has always been a preferred vacation location for domestic and foreign travellers. People visit the city to taste the nightlife, visit countless parks, enjoy the weather, and many other things. What makes Bangalore tourism even better is that it is connected very closely to places like Ooty and Mysore. Entering the tourism industry in Bangalore may mean you can venture into building a hotel, restaurant, café, tourist agency, etc., to provide travellers with the best experiences possible.
3. Real Estate Brokerage
As we mentioned above, Bangalore can be a tight space for newer residents, and people generally need help finding the right place for themselves. A real estate broker deals in apartments and plots daily. You can start a real estate brokerage and help people find their perfect home or a perfect office and charge hefty commission for your services.
4. Car Rentals
For people who do not like to travel in taxis and cabs, a newer way to travel is developing in India. While this method has existed in foreign countries for a long time, it is still in its beginning stages in our country. Tourists and locals would like to experience a more private travel experience like renting cars. Rental businesses charge an advance deposit and can charge further according to their discretion based on time or distance.
5. Co-working Space
Companies have started allowing employees to work from a common area due to the limited office space. This saves high costs for both the employees and companies. You can find a great area that has yet to be developed completely and build a co-working space where employees from different companies can work peacefully. Co-working spaces provide all the facilities like attendance management, transport, work desk, food, etc.
Business Ideas for Other States:
6. Bicycle Rental
With the increasing disease count in India, people are becoming more health conscious, which is why eco-friendly travel has gained ground. People like to travel on bicycles these days to escape the long traffic jams and keep themselves fit. You can take this new perception to your advantage by providing high-quality electric and non-electric bikes.
7. Paying Guest
Since having an apartment can be a big deal in Bangalore, students and employees alike like to stay in PGs, which offer a roof at a much lesser price. Starting a PG can be a great idea if you have a space available at your disposal. Providing services like a homestay, food, laundry, etc., are some basic activities of building a PG business.
8. Grocery Home Delivery
The time employees and bosses spend at work is crazy. Spending so much time at their offices, people generally want to avoid going out again to buy groceries. You can build a grocery store available online (Whatsapp, Instagram, Website) or through a contact number where you promptly take orders and deliver groceries to people’s houses.
Bangalore residents have fast-paced lives. Everyone has a job to do. Couples who become newer parents face the problem of nurturing their kids’ childhood in the best way possible. Due to lack of time, it can get very hard. Daycares provide services for children’s mental and physical development, cognitive development, and keeping children safe. This is a booming business as it has an increasing demand and does not require much investment.
10. Digital Marketing
Every company in 2022 needs to have an online presence. Often, companies do not have time to deflect from their main business, so they outsource their digital marketing requirements. You can create a digital marketing agency and help companies gain a digital footprint through different forms of marketing like content marketing, influencer marketing, content creation, blogging, etc.
11. Event Management
Cities like Bengaluru are a hub for corporate and social events round the clock. These events vary in size, scale, people, requirements, and much more. Entrepreneurs can start working as event managers and assist in organizing corporate events or overnight parties depending on their preference. Your responsibility as an event manager will be to give them access to the entire event. You will oversee everything, including the food, the decor, and keeping the guests happy.
12. Cloud Kitchen
Establishing a cloud kitchen is significantly simpler than opening a restaurant. Cloud kitchens are set up for the purpose of takeaway and deliveries only and no seating space is provided, making them a much more affordable way to reach foodies and create your market. After setting up your cloud kitchen, you can develop an online food catalogue where customers can place orders. These orders can be filled by you preparing them in the kitchen and delivering them to your clients.
13. Cleaning Service
Cleaning services are in high demand right now because they are useful for both households and businesses. Individuals are becoming increasingly invested in their careers or professional lives. They hardly ever have the time to maintain their house. To take care of their homes, people hire professional cleaning services for regular as well as deep cleaning. One can make a big business by providing professional cleaning services in Bangalore.
14. Online Tutoring
Ever since the pandemic, the online education industry has experienced tremendous growth. Starting an online tuition service could prove to be quite advantageous for you as learners have become accustomed to the convenience and comfort of taking lessons online. Choosing a subject that suits your strengths will provide a great return on investment in no time.
15. Become a Social Media Influencer
One of the best ways to make money in 2023, becoming a social media influencer involves focusing on a variety of niches, including self-help, personality development, cooking, gardening, painting, interior design, fashion, entertainment, and much more. You can pick a specific genre and start creating content on the same. Social media influencers earn money in the form of paid partnerships, sponsorships, affiliate marketing, and more.
16. Deliver Home-Cooked Meals
There are many people who work in different sectors in Bangalore. People are forced to eat fast food due to long commutes, inconsistent office hours, and busy schedules. But recently, people have become more aware of the importance of leading healthy lives. The need for home-cooked, nutritious food has increased multiple folds. Home-cooked food preparation and delivery have the potential to be a surefire hit. Make sure the food is clean, of high quality, reasonably priced, and served consistently.
17. Professional Blogging
Professional blogging has developed as an area of opportunity in the digital age, particularly with the introduction of social networking. You may undoubtedly establish yourself as a successful blogger if you have a talent for writing. The major advantage is that the startup cost is modest. You are essentially set to go if you have a website, a computer, and a budget for social media or internet marketing.
18. Offer Market Research
Today’s businesses rely heavily on market research. Today, user insights into products, services, and perceptions are crucial for running a successful venture. Although some businesses prefer to outsource their research to agencies rather than using internal departments, this is not universal. If you decide to launch a freelance research agency, you can bring in a lot of business from top-tier corporate clients. Bangalore is the hub for corporate activity and can provide great returns for your intellectual abilities and efforts.
19. Start an HR Firm
Companies in Bangalore regularly hire and fire people. It becomes a big task to hire people by following an internal process which is why most corporates outsource this process. Starting a recruitment company in Bangalore can be a very profitable and expandable business idea. HR Firms take care of everything ranging from resume screening, background checks, interviews, reviews, and much more.
20. Start a Software Development Firm
It goes without saying that establishing a software development business in India’s IT City has the potential to be a very lucrative venture. The niche aspect of beginning a business in this industry is that it requires deep technical knowledge. Entrepreneurs can easily scale quickly if they can assemble experts in the IT field and provide professional services not only in Bangalore but all over the country.
In addition to this, if you are looking to start a business in your village but don’t know where to start? Have a look at our latest blog, where we have mentioned some of the most profitable village business ideas in India that you can start with very less investment.
Bangalore is a place where dreams turn into reality. We have recommended our top picks for businesses of all budget sizes in Bangalore. Dive deeper into the field that interests you and start creating your successful journey today.
The legal steps of starting a business in Bangalore are
1. Approve your company name
2. Get the director’s identification number
3. Get the DSC (digital signature certificate)
4. Stamp the papers of your business
5. Get the certificate of incorporation
6. Make a seal of your business
7. Get a Permanent account number (PAN)
8. Get a tax account number
9. Register your business with the Office of Inspector and Shops and Establishment Act
10. Register for GST
11. Register for professional tax
12. Register with the Employees’ Provident Fund Organisation
13. Register for medical insurance for your employ
Some of the businesses you can start in Bangalore are affiliate marketing, tourism, real estate brokerage, car rental, co-working space, and digital marketing.
Some of the most profitable businesses in Bangalore are
1. Affiliate Marketing
3. Real Estate Brokerage
4. Car Rentals
5. Co-working Space
6. Bicycle Rental
7. Paying Guest
8. Grocery Home Delivery
There are several businesses that you can start with a five lakhs investment in Bangalore, like franchise stores, incense sticks manufacturing, disposable paper plate and cup manufacturing, water purification units, consulting agency, printing businesses, etc.
Some of the businesses that you can start with ₹1 lakh investment in Bangalore are homemade candles, pickles, incense sticks, handmade chocolates, custom gifts, etc.