An insight into startup ideas with high ROI, and why Laundry comes out victorious.
History of start ups and startup ideas
“Chase the vision, not the money. If the vision is great, the money will end up following you.”
The idea and the concept of startups began in the end of the 1990s when the dot-com boom took over the world. Ever since then, the concept of startups have only been rising and with the help of the internet and advanced technologies, have been touching the peaks of success. Earlier, on the onset of the theory of startups, the idea was just limited to starting and funding businesses in shops and in other physical forms, but now with the emergence of online marketing, the horizon of startups have started expanding and are no longer unorganized. The businesses have been making huge profits using all the resources and each startup has been booming.
With time, the vision and the approach toward business has changed. People started businesses to make a profit out of it, some started as they didn’t have any choice. Now it’s all based on calculated decisions, which is data driven and more informative. The other change is patience. As mentioned earlier, previously businesses were started only thinking about the instant monetary profit that came out of it, but these days, businesses that have been established are based on investing with more capital, because with time, owners have started accepting that the profit margin takes time and in order to make it run long term, you need patience. Investing on social media, marketing, SEO, and other such phenomena take time and give out great returns if one has enough time to provide.
What are the several Startup ideas with high ROI?
You must be wondering what exactly does it mean when we talk about start up ideas with high ROI? ROI, that is the return of investment, is generally defined as a performance measure used to evaluate the efficiency or profitability of an investment or compare the efficiency of a number of different investments. So, when we talk about startup ideas with high ROI, it means businesses that have low investment rates and high rates of profit. It is not just easier setting up such businesses but they are known to be more in demand. Are you someone who has big dreams to set up a business, but do not have enough funds to establish it? Then keep reading to get ideas on businesses that can be set up with a low rate of capital:
Laundry is probably one of the best as a startup idea since as per research, Laundromats generate about $5 billion in combined nationwide gross annual revenue. With an average revenue as high as that, it is next to impossible for a laundry business to go flop. The return time might take a little longer than expected, but you will get your results if you do it right! Even when it comes to one establishing a business in laundry, it is not that big a deal. All you need to do is have a place where you can store all your equipment. Your only investment ill be on the equipments and the shop, given you plan to have one. Otherwise it is quite easy to just begin your laundry company and keep people who can work from you. All you need to do is keep a good track of the work and pay the employees their wages and you are all set with a business that will be giving out very high rates of ROI.
- Starting up a courier company:
With almost 80% of the marketing world processing online, one of the most profitable business ideas is setting up a courier company. The rate of capital invested on opening such a company is very low, and if you are able to set up your company in a place of interest, targeting mostly small businesses, you are most likely to get back your return within a time span of a few months. Another way of going big in this niche, without much struggle is by taking up a franchise with an already existing courier company. For example, say you are a person residing in Ranchi and you wish to set up your organization around that area. You can pay a certain capital to an existing company and start your business with their name in Ranchi. This makes people trust you easily because of the brand name.
- Opening a Gym
Another business that might require a comparatively higher rate of capital but is sure to give out high return on your investment is by opening up a gym. With the pandemic hitting us, people are now tired of sitting back at home and working. Everyone is looking for a mode of exercise and trying to keep themselves fit. Almost the entire youth is now hitting the gyms. If you plan to open up a gym near a college or school area, you are most likely to make a huge amount of profit. An added benefit to opening up a gym would be if you could provide personal training to the people. Personal training requires almost 0 capital to be invested. All you need is good knowledge regarding exercises and diets and some good customer reviews and you are good to go.
- Online Bakery
Opening up an online bakery in today’s times, is considered to be the most effortless service, leaving the marketing process aside, ofcourse. If you are somebody who loves to cook food and is quite famous among your peers for your secret recipe, then opening up this business will be the best option for you. Your investment will at the maximum be having an oven and buying the key ingredients, most of which are already present at home. Online bakeries are mostly famous because of their effortless delivery. Cakes and snacks are an integral part of any celebration and people prefer to have it delivered at their doorstep without having to worry about anything. So, opening up a bakery at a place that is surrounded with a lot of people is a great idea and is most likely to give out high return on investment, given that you truly have good cooking skills!
- Selling Handicrafts
With all the movement that went about supporting small businesses, opening up a startup selling handicrafts is a great idea. The rate of capital that is to be invested for starting the business is so low, that all you will be needing is to invest on the small products that you have to buy, otherwise, some of these are also antiques that you say collect from a shore or an island. But if you are successful in attracting enough audience and marketing your products well enough, you are to get extremely high rates of return on your investment. It is a great startup idea, but one thing that you must always remember before you begin is that you understand the requirements of your audience and what attracts them more and create products accordingly so that you have a higher rate of sales.
- Providing classes for hobbies that you excel in
With the onset of the rising trend of online classes, and the means of work from home, you would be surprised to know how many people are willing to pay and take up an additional course in something that is likely to boost up their skills. You can give out such unique classes, in which you have a profound knowledge and also a certification, because that will help you grow. Your only investment is your knowledge and the internet using which you will be imparting the knowledge and you will earn unexpected returns!
Why is laundry the best as a startup idea?
Now that you have an insight into startup ideas with high ROI, let’s see why Laundry comes out victorious.
With almost all the organizations giving high pressure on their employees to meet up the profit margin that they were lagging behind because of the pandemic, the work pressure has increased for everyone. People have so much work to do at their offices that coming back to their house and carrying out regular chores like washing clothes are mostly being avoided. This is one of the reasons why most people are trying to open up a laundry store. Moreover, with the increase in the use of clothes with good quality fabric, people do not take up the risk of washing them at home. They prefer dry cleaning. As per Tracxn’s report, laundry as a startup idea have increased to cross the 100 unit mark, and more than $6.2 million have already been invested in the industry. The evaluation of an unorganized laundry market that includes maids, servants, mom-and-pop stores, and Dhobis is estimated to be around INR 5000 crores, while the total size of the Indian laundry market is INR 2.2 crores. With such rates of profit, there is no doubt that laundry as a startup idea is one of the best startup ideas in today’s time.
Laundry is one of the most primary household chores and people desire to buy only the best,which is not just sustainable, but will also give out quality services. We at Quickclean aim at giving out the best results, keeping customer satisfaction in our mind. Our products are durable and user friendly allowing us to be of use of a wide spectrum of audience.
One may think that the primary factor behind setting up your own business is funding. But It’s high time that you realize that if you are on the right track and have done good research, you can set up your business with very low rates of capital. But the most important part in running a successful business is being patient enough to wait for results because at the end of the day, you must keep reminding yourself, “Rome was not built in a day!”