Want to start a small business of your own? Consider opening a home-based business. Here’s why:
- Low business set-up costs
- Save time and money on office space rentals and commutes
- Finance options available at competitive business loan interest rates
- Flexibility to work at your own time and schedule
Here are some of the most lucrative home-based business ideasyou can try in 2021.
The Indian tax system is like a maze for many individuals and small firms, so they often turn to external services. If you have relevant expertise and experience in the field, you can start a tax consultancy from home to provide financial and accounting assistance to such clients. And charge a fee for offering services like income tax calculation, filing ITRs, etc.
A tax consultancy service typically requires initial investments of anywhere between Rs. 20,000 to Rs 1 lakhs. But if you’re short on funds, you can take advantage of the dropped business loan interest rate and secure a quick loan from a reliable lender.
Additional Read: Best Business Ideas to Look Out For in 2021
Daycare for children
Working parents in metropolitans are always on the lookout for good daycare services. And usually, lean towards home-based facilities due to the home-like environment they provide. So, make sure you furbish a well-endowed daycare space to attract prospective customers.
Besides, a business loan calculatorcan help you estimate the overall investment spend, along with your EMI projections so that you can manage finances accordingly. In any case, you can expect profitable ROIs within a year.
If you live near any college campus or a corporate hub, a meal or “tiffin” service, as commonly called, will be the perfect option for your home-based venture. Based on your speciality, you can either target a niche audience or supply services to a broader segment straight from your home’s kitchen.
Moreover, a business loancan easily cover your start-up’s preliminary expenses, allowing you to focus on delivering fresh meals instead of worrying over expenditure.
The COVID-19 outbreak has accelerated digital adoption across industries. As a result, many businesses are going online. They are joining the e-commerce wave by relying on website designing services to build a robust website and meet their web-based customers’ needs effectively.
Besides, individuals with excellent web designing skills and relevant experience can easily start a website designing business from home. And earn a monthly revenue of Rs. 50,000 or more.
Additional Read: How to Use a Business Loan for Your Home Based Start-Up Company
To sum up
Irrespective of your business idea, starting a business from home will require adequate funding. So, carry out due diligence and research the market for a reliable finance company before you apply for a loan.
At Tata Capital, you can secure customised business finance up to Rs. 75 lakhs to support your home-based venture. Our relaxed business loan eligibility norms ensure you can access the necessary loan amount without any hassles.
And why fret the EMIs? You can accurately calculate your monthly commitments using our business loan EMI calculatoronline. So, why wait? Give wings to your entrepreneurial dream and connect with us today!