Best Business Ideas To Start In India With High Returns 2024
Written By: Shruti Agrawal
With the growing enthusiasm of people to pursue their entrepreneurial goals, especially after 2016, when the start-up scheme was launched, since then people who have little savings have also dreamt of becoming entrepreneurs. But, wanting to start a business in India is one thing, finding out the best business idea to start in India with high returns is different.
It's a misconception that a business which gives high returns always needs a big amount of investment. You can start on your own with the small savings you have from your previous 10-6 job, you just need the best business idea to start In India with high returns.
For this, you can go for the most trendy and least risky franchise businesses. Where somebody is there to share your responsibility without putting on some extra burden.
Before delving into the specific best business ideas with high returns, there are certain sectors which generally promise high returns:
- Quick Service Restaurants Franchise.
- Fitness Franchise.
- Cafe Franchise.
- Pre-school Franchise.
- Diagnostic Lab Franchise.
- Automotive services Franchise.
Other franchise sectors which generally give good returns are Health and Beauty Services Franchise, Retail Clothing and Apparel Franchise, Coaching institutes franchises and more.
Top 6 Business Ideas To Consider in India 2024 With High-Returns
Here Are the Top franchise business opportunities in each segment, which are considered the Best Business Ideas with high returns:
Quick Service Restaurants (QSR) Business
The Indian service market is expected to reach USD 77.54 billion in 2024 and grow at a CAGR of 10.03% to reach USD 125.06 billion by 2029. India's QSR franchise market is expected to reach USD 32.22 billion by 2028, growing at a CAGR of 14.2%.
The increasing popularity of fast food restaurants and the rising demand for hygienic and cost-effective food prices are creating significant opportunities in the fast food and quick service restaurant market.
Doner & Gyros is a fast-food restaurant franchise that offers a variety of dishes, including doner kebab, gyros, and other Mediterranean-inspired dishes. The brand was founded in 2012 and made its debut in 2014.
Froozo is a brand that offers a variety of gourmet desserts, including ice creams, thick shakes, freak shakes, mini pancakes, Belgian waffles, and more.
There are currently 32 Froozo outlets in India.
Fitness Business
The total market for fitness in India is valued at around Rs. 4,670 Cr, growing at 17-19% and is estimated to cross Rs. 7,000 crore by the end of 2023. The Health & Fitness franchise market in India is projected to grow by 11.57% (2022-2027) resulting in a market volume of USD 31.97 mn. in 2027.
The fitness industry is booming in India, driven by rising health issues, especially after the COVID-19 pandemic, the increasing awareness about health and wellness, and the growing preference for boutique fitness.
Anytime Fitness is known for its 24-hour, co-ed fitness concept and is the world's fastest-growing fitness franchise, operating in over 5,000 gyms across the globe in more than 40 countries and 7 continents.
The brand entered the Indian market in late 2012 and has since achieved significant growth, with over 100 clubs in the country.
Gold Gym is a globally popular fitness brand that has also made its mark in India. It has a strong legacy dating back to 1965 in California. Gold's Gym India started in the year 2002 in Mumbai and has since expanded its presence across the country.
The brand has more than 150 active clubs in around 25 states in India, and there are more under construction. The franchise model is available for PAN India's expansion.
Cafe Business
The Indian coffee cafe market was estimated at around USD 340.12 million in 2023 and is growing at a significant rate. The cafe culture in India has witnessed a significant surge in recent years, with consumers seeking cosy spaces to relax, work, or socialize.
The Indian market has seen a rise in affordable cafe franchises that cater to the growing demand for socialization and affordable dining options.
Third Wave Coffee is a rapidly growing specialty coffee chain in India, known for its commitment to providing high-quality, ethically sourced 100% Arabica coffee. The brand was founded in 2016. Third Wave Coffee is part of the "Third Wave" movement in coffee marketing, which emphasizes the highest quality and often involves sourcing beans from individual farms and roasting them more lightly to bring out their unique flavours.
The brand is operating 104 coffee franchises across the country.
Founded in 2010, Madras Coffee House is a well-established chain of coffee cafes known for its authentic South Indian filter coffee.
Madras Coffee House has been recognized for its exclusive focus on serving high-quality filter coffee, which has helped it stand out in a market dominated by tea consumption.
The brand's success has led to it being voted the 'Best Food and Beverage Chain in Chennai' by the city's residents.
Madras Coffee House has over 150 stores worldwide.
Pre-School Business
The Indian preschool market size reached USD 3.8 Billion in 2022 and is expected to reach USD 7.3 Billion by 2028. Consumers in India are increasingly preferring preschool franchises that offer a safe and nurturing environment for their children, with a focus on holistic development and individual attention.
Bachpan was founded in 2004. A preschool has introduced innovative educational tools and technologies such as smart glasses, augmented reality, virtual reality, robotics, and tablet-based learning to enhance the learning experience of young children.
The brand has received several awards and recognitions, including the "Best Playschool of the Year 2018" and "The Preschool Franchisor of the Year". The brand has expanded its presence to over 1200 operating play schools across India, with a nationwide reach and a chain of 1100+ schools providing a unique franchise opportunity.
EuroKids is a leading early childhood education brand in India, offering a unique curriculum inspired by PlayWay and Montessori, blending fun and learning for young children. EuroKids was founded in 2001 in Mumbai. EuroKids has grown to over 21 years of experience and has a presence in 350+ cities across India. The brand has established over 1000 preschools all across the world.
Diagnostic Lab Business
The India Diagnostic Laboratories Market is growing at a CAGR of 10.5% from 2020 to 2025. The market is projected to grow at a CAGR of around 27.5% during 2023-2027.
The increasing awareness of the importance of early disease detection and Consumer prefers diagnostic lab franchises that offer accurate and timely test results, with a focus on patient comfort and convenience are driving the growth of the diagnostic lab market in India.
Rashi Diagnostics is a diagnostic services provider in India that maintains high levels of uncompromising quality and equipment adaptability in conjunction with Johnson & Johnson. The company was incorporated in 2018 and is headquartered in Bangalore.
Rashi Diagnostics offers a range of diagnostic services, including blood tests, imaging, and other medical tests. Presently, the brand has around 10 franchise outlets in India but the brand is looking for expansion across the country.
Dr Lal PathLabs is a leading diagnostic services provider in India, offering a wide range of diagnostic tests and healthcare services. It was founded in 1949 by S. K. Lal. It is based in New Delhi. Dr. Lal PathLabs has several sub-brands, including Swasthfit, Sugarnme, OncoPro and NephroPro.
Dr Lal PathLabs has 200 laboratories and diagnostic centres with approximately 1,500 collection centres.
Automotive Business
The Indian automotive industry is one of the largest markets in Asia. As a whole it is currently valued at more than USD 100 billion, produces 8% of the total exports, and accounts for 2.3% of the country's GDP.
The sector is also benefiting from new tailwinds, such as global supply-chain rebalancing, government incentives to increase exports, and technology disruptions that create white spaces, which will help create opportunities at all levels of the automotive value chain.
Started by Namit Jain in 2015, in Mumbai, the brand offers electric bike rentals for shorter distances and motorbike rentals for longer rides. The brand Provides flexible ownership plans, including rent-to-own, monthly or quarterly bookings, and daily plans.
It operates in the B2C, and B2B space in the Retail, Travel and Hospitality Tech, Auto Tech, Transportation and Logistics Tech market segments.
Cars24 is a leading online platform for buying and selling used cars in India. The platform offers 100% verified second-hand customer cars at the best price, with easy finance and RC transfer.
Cars24 has a significant presence in the used car market in India, with a focus on providing reliable and value-for-money vehicles. Currently, the brand has less than 10 franchise outlets in the country but it is looking for expansion.
So, talking about the Top Business opportunities, here we mentioned just a few of them. If you are interested and don't want to miss the opportunity to own the best business with high returns, then you must contact the FranchiseBAZAR, the best franchise consultancy in India.
Disclaimer: The brands mentioned in this blog are the recommendations provided by the author. FranchiseBAZAR does not claim to work with these brands / represent them / or are associated with them in any manner. Investors and prospective franchisees are to do their own due diligence before investing in any franchise business at their own risk and discretion. FranchiseBAZAR or its Directors disclaim any liability or risks arising out of any transactions that may take place due to the information provided in this blog.
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