Latest business ideas in Mumbai 2023

Mumbai, popularly known as “Sapno ki Nagri” or the city that never sleeps is India’s richest city with the highest GDP and bags its position in the list of the best globally connected cities of the world. It is also known as an Alpha World City and is home to many iconic monuments, structures and institutes that are dreamed by many people across the country. 

Mumbai is also the financial capital of India and has a name for creating many millionaires and entrepreneurs every year. If you want to know about some of the best business ideas in Mumbai, make sure you read this post till the end.

Today I am going to tell you how you can become a millionaire by investing your time and effort in some of the best business ideas that will carry you up the success ladder for sure.

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Business ideas in Mumbai

1. Fitness Academy

The fitness industry is growing rapidly in India. People just don’t want to build their muscles for show off, but they do, now, to maintain a healthy body. More people are joining gyms every year and trying to achieve their dream physique. A fitness center is a good business which can help these people in getting their body toned and lean. 

You could start a fitness center that provides gymming, yoga, meditation, aerobics, zumba, dance etc. 

2. Real Estate

Owning a piece of land in Mumbai is a big deal because the price usually is very high and utterly expensive than any other part of the country. Therefore a person or a company which deals in real estate will be able to fetch huge amounts of money even if he sets a commission rate of 1% in the whole transaction. You can work under a renowned real estate firm for 2-3 years to gain some experience and then start your own real estate business.

3. Restaurant

Restaurant is a business that never goes down unless you have set up the business in an area that will get less footfall in the coming years. These things need to be thought about beforehand, and after everything has been taken care of and thought about, you can start a restaurant business. Your popularity will depend on how much you charge, what things you offer, how good your restaurant looks and most importantly the taste of your food.

Once you get known, there’s no going back, people remember the place and keep coming again and again.

4. Rasoi

People these days order mostly at home at their comfort. If you restaurant presents fine dining and has great looks, then it will always be full of people but otherwise people just order food from any restaurant online. In that case you can start a Rasoi business that will only take online orders or takeaways. 

This business is also helpful for those people who can’t invest heavily in setting up a restaurant. You just need that much space that will be required for 4-5 people to cook food.

5. Modelling Agency

Mumbai is home to many actors and models. Many aspiring Indians from different backgrounds and cities come to Mumbai in search of modeling opportunities and acting careers. A modeling agency could make this dream come true and provide assistance to those people. 

It can contact the brands that need to promote its products using modeling shows or host modeling events, in this way it’ll provide job to many models as well as make its name in the modeling world. 

6. Marketing

Mumbai is home to many businesses and headquarters for some of the biggest companies of India. All these businesses need marketing for their products otherwise the public forgets them. Therefore, they constantly come up with creative ads and out of the box plans to promote their products and services. If you have experience and knowledge in marketing, especially digital marketing which is really popular nowadays, you can help these businesses thrive and reach the skies. Although there are many digital marketers nowadays, if you promise to bring more customers and market the products in a creative way, people will surely call you again and again. In turn you can charge them with fixed charges and commission variable charges. 

7. Dropshipping business

Dropshipping business is not really a physical dukaan wali job or a manufacturing firm, its just a one man job. But it needs investment of around 1-2 lakhs that goes in marketing your products. So what is Dropshipping?  Basically you need to start an online store for a particular product or many products, that’s your choice, then you need to promote those products on google, facebook, instagram, etc. 

People will order these products from you and you’ll get the money for those products, but there’s a catch. You don’t have to manage the orders, you don’t have to ship them, not manage anything except marketing and getting money. 

But how? First you need to find an online wholesaler, talk to them that you’ll bring the customers and keep some profit and that all things will be managed by the wholesaler, from taking the order to deliver them, cancellations, refunds, everything. But how will they receive the order if customers order on your website. 

That will all be managed by tools and plugins which will pass the order information from your website to the wholesaler.

8. Influencers management

Mumbai is not only home to many businesses but to many influencers as well. You’ll find a youtuber or creator in every nook and corner of the city. Things become difficult for these creators when they gain a huge fan following and receive thousands of messages, DMs, emails, promotional requests, and sponsorships daily. 

That’s where you could come to their rescue. You could manage all their messages, sponsors, collab requests and talk to the fans on their behalf. Sometimes there are sponsorship requests that need to be declined or changed, in that case many influencers feel nervous of how it might affect their image if they directly charge more money from brands, in that case you could talk to the brands representing yourself as a part of the team for the creator. 

9. Pet care business

People have dogs, cats, birds, and whatnot. All these pets need special care. Dogs need regular walks and washes, and when people get busy, it becomes difficult for them to manage their pets and their own lives. So they hire a dog care person. Not only does it happen with dogs but with other pets as well. 

You could provide these services to the people and help them. Although people in our country don’t ask much about certifications or papers as long as you are doing your job perfectly well, you should try to get these certificates to get in the dog business or pet business.

10. Room and accommodation

We all know how many people come to Mumbai every year in search of better life, better opportunities, to achieve their modeling or acting careers. But where do these people go?

Mumbai is expensive so getting a high class room or 5 star hotel on the first is not at all possible. So these people find rooms in slums, which lack even basic facilities. So you could set up a low budget room business that supports all the basic facilities and needs not much maintenance. That provides security and privacy to the people and is clean and hygienic. 

Check these room ideas that need low maintenance and provide a home like environment to people. 

11. Organic Foods

You might have seen this business idea in every other website. That’s because it really is the future, people buy like crazy when they hear that the food is organic. Unfortunately this has become the problem of our country that we don’t get healthy or unadulterated food normally. Fortunately you could provide people with organic food grown without pesticides and harmful chemical fertilizers.

If you grow in large quantities, you may be able to sell them at lower prices than others which will become your strongest point. However if you are living in Mumbai city, you might not find big farm lands. But there’s no problem that cant be solved with the latest technology. You could try a hand on rooftop farming and vertical farming provided you have enough money.

12. Franchise

Every major brand looks to expand its business in different cities, states and nations. You could get a franchise by contacting a brand and setting up in Mumbai, the plus point for setting up a franchise is that you don’t need to call customers, they come on their own because the brand has its reputation and fame.

There are different types of brands that you can contact for setting a franchise in different industries like food industry, clothing industry, tech industry, luxury items, hardware, vehicles, etc.  

13. Thrift store

A thrift store is where you can get second hand clothes at low prices, not only clothes but many things. Thrift stores don’t provide low quality material or clothing that is ragged or torn pieces, therefore they are a great place to get good and cheap clothing. 

Thrift stores are popular in western countries but have yet to make their mark in India. Mumbai as we know, is an expensive city, everyone wants to look good but not everyone can afford high budget clothing, that’s where you could come to the rescue. But as I said, this thing is not very popular in India, therefore it could be started as a side business. 

14. Teach communication and personality development

This is one thing that not much people offer and could be turned into a great business. Mumbai is the head of the corporate world plus millions of people try to get into government jobs every year. One thing that everyone has to go through is interviews and personality checks. Well English can be learnt in institutes but no one teaches how to behave, how to talk, corporate manners and ethics, what not to talk about, how to present yourself, how to give presentations etc. 

If you properly promote your business, this could be turned into a great business and you can expand your business in other Indian cities as well like Delhi, Bangalore, Kanpur, Chandigarh, Kolkata, where people come from far away to get training for competitive exams.

15. Acting classes

Well if so many people come to Mumbai to get a career in acting why not teach them professional acting to help them get into films and tv shows. You can provide a certified acting course with the help of trainers and set up a great Acting academy. Not only acting, you can teach dancing, singing, cinematography, and other things required in creating a film.

16. Creator academy

This is a new business idea. There are thousands of creators and youtubers in Mumbai who want to get popular and famous but don’t have enough resources with them. You could provide these creators with a place or material required for shooting videos, clothing, green screens, video edits, training them in video editing, blogging, renting gaming equipment etc. This is a mix of teaching, renting and providing marketing services. It is up to you how you setup this business, but this could become a great deal.

17. Parking space

It’s a struggle driving on the road in Mumbai when all the cars are parked outside on the roadside. Also these cars get drowned in the floods in the rainy season. A possible solution for this problem is that you could provide multi level parking to the people in the city and charge a monthly fee from them. 

18. Event management business

Mumbai is a lively place with a dynamic lifestyle. There’s something happening every now and then, people throw parties for birthdays, promotions, retirement, corporate parties etc. event management is a great business that could help people throw parties and cater to the guests with fine food, dining, seating, and ambience. 

A good event manager could even convert a damp into a hotel if he has the creative vision and a supportive team.

19. Provide labor

Not only for event management, labor is needed for a lot of things, from moving your place to renovating your house. For loading and unloading goods, to business workers, labor is needed everywhere. And skilled labor is even more appreciated. You could provide labor to people on just a phone call and make a great business. You could give training to these workers and keep the money earned through labor on commission. You don’t even need a physical space for this business if you are managing everything on phone calls.  

20. Grocery at home

With a busier lifestyle, people don’t get much time for grocery shopping where they have to stop at grocery marts or mandis and then buy groceries. So many businesses have erupted now in big cities that provide grocery service at home and can be called online at any time. But this option is still not feasible for the masses who find it hard to use online apps or find it expensive to order through online services. 

So you can start a grocery delivery business and provide an edge to your business by charging less money and giving quality services. You may not need to put huge sums of money for this business model because if you start even locally, you’ll get popular eventually and then expand your business gradually.

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Conclusion

I hope that you have gathered great insight about Business ideas in mumbai, small business ideas in mumbai from my blog.

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Today we learnt-

• New business ideas in mumbai
• Best business ideas in mumbai
• Part time business ideas in mumbai,

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Thanxx.

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