Oct 26, 2020Business Loan
People who have business ideas also have the vision to see the reward. Risk and reward go hand in hand. However, one common foundation of all business ideas is to decide what to promote or market and how. With a diverse country like ours, one can find potential in unending products and services. One needs to identify a good idea for business, and also the ways to offer it correctly. One needs to do constant research, develop strategies, price the product well, find the right audience, maintain quality standards, profitability, etc. But the epicentre will always be the product or service that is chosen.
One such area is wholesale business with abysmal potential. Wholesale Business ideas are one of the most profitable options available in India. This is a setup where the goods reach consumers from a chain of suppliers. This creates business opportunities for wholesalers. Manufacturers sell the products to wholesalers at a slightly lower rate. Wholesalers, in turn, sell the same products to retailers at a higher price. The opportunity to make the money in between makes wholesale business ideas worth it.
We have listed the 10 best wholesale business ideas to start:
Textile tops the list of wholesale business ideas. It’s not only a lucrative business segment, but it also offers versatility. There is a wide range of products available like thread, fabric yarns, home furnishing, readymade garments, footwear, accessories, etc. This variety creates a huge opportunity for profits. One needs to have knowledge of the textile industry before starting.
India is a country that largely depends on agriculture and hence agriculture can be one of the best wholesale businesses to start. Selling equipment used in agriculture can be highly profitable. Also, users are always keen on using the latest technology that is being used in agriculture. The range is from fertilizers to pesticides to organic seeds to heavy built machinery like tractors.
Jewellery business is a capital intensive business. The market is a niche for jewellers but it attracts loyal and dedicated customers. Clients will keep coming back if they like the designs and quality.
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Furniture is a must in all households. Metros have numerous flats and private houses coming up. This rise promotes furniture business, which can give wonderful returns too.
Organic food is receiving unprecedented interest as everyone wants to maintain a healthy lifestyle. Organic products are sold offline as well as online. Manufacturers are looking for distributors to reach every town to sell their products. Targeting the wholesale market of organic food can give local and international opportunities.
Ayurveda is a preferred option by many as it offers chemical-free products. One believes that Ayurveda products are harmless, making this business fruitful. There are a variety of Ayurveda products that are sold as wholesale with correct pricing and discounts.
Wholesale business of stationary can be profitable as the demand does not drop. Educational institutions and corporate constantly need them. It is not a high capital investment. This business can also offer innovative products. The return on this business is huge if one has the right connections with the correct retailers.
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This is one of the biggest markets in recent times and is expected to grow bigger. Consumers are looking for unique and interesting toys. Importing toys abroad is also a wholesale idea that one can pursue and expect good returns. Moreover, the Indian government is also promoting this industry and has been providing ample benefits which you could take advantage of.
Some of the kitchen essentials are going through innovation, which rises demand. This includes basic utensils like frying pans, cookers, dishes, etc.
Food is a large market in India with limitless opportunities. People carry snacks while commuting and store all types of snacks at home. Our country is full of snack corners, which are the highlight of the localities. Wholesaling snacks from far-off places, packaging them and ensuring that they reach every nook and cranny falls under distribution business.
We have seen the best wholesale business ideas above. Business loans at attractive rates allow people to achieve their business dreams. The past few years have experienced tremendous growth in personal loans. Business loan interest rates at Fullerton India and fees are customized to suit clients’ profiles and needs. Before applying, please ensure that you go through our Business loan eligibility criteria for a better understanding.
Fullerton India welcomes self-employed individuals, proprietors, private limited companies, and partnership firms, individuals in current business for at least three years with a total of five years of business experience. MSME loans also are a rising segment. To be eligible for a business loan at Fullerton India, applicants should be a minimum of 22 years of age and a maximum of 65 years of age at the time of maturity of the loan. Fullerton India understands that borrowing for business is a stepping stone to the achievement of big dreams.