Top 9 Innovative Business Ideas In India
Written By: Shruti Agrawal
In the last decade, people have shifted their focus from their 9-5 jobs towards entrepreneurship. Innovation has become the driving force behind entrepreneurial success. The pursuit of novel ideas and creative solutions has given rise to a myriad of opportunities, shaping the future of industries across the nation.
This compilation explores the "Top 9 Innovative Business Ideas in India”.
Best Innovative Business Ideas To Consider in India 2024
#1. Cleaning and Laundry Franchise Business
The commercial cleaning business in India is driven by factors such as the increasing demand for professional cleaning services, the rise of new commercial setups, and the growing focus on hygiene and safety. The industry is expected to grow at a rate of 30% per year, with a market size of INR 2,000 crore.
According to recent reports, the laundry and dry cleaning industry in India is expected to witness exponential growth in the next 5-10 years, with the market expected to grow to USD 15 billion by 2025.
The brand was established in 2001 in Atlanta and India it is headquartered in Mumbai. It offers a range of cleaning services and operates as a facility management company, specializing in housekeeping and disinfecting services.
An app-based laundry and dry cleaning service provider, founded by Dilip Param in 2018. The company offers services, including steam ironing, starching, stain removal, laundry and dry-cleaning.
#2. Cloud Kitchen Franchise Business
The cloud kitchen industry in India is expected to grow at a CAGR of 25% from 2020 to 2025, reaching a market size of USD 1.05 billion by 2025.
The market is anticipated to thrive in the next five years considering a shift in lifestyle and eating habits, easier and secured payment pathways, delectable food presented in luxurious cutlery and celebrations with family and friends, and quick prompt delivery through food aggregators.
99 Rotiwala offers a variety of food items, including North Indian, Chinese, Kebab, Biryani, and Beverages. The brand is known for its fusion of traditional and modern culinary styles, providing customers with a unique dining experience.
The brand is known for its digitally powered platform that delivers quality food from a network of hyperlocal cloud kitchens. Kouzina owns and operates multiple delivery-led food brands that are powered by technology, including North Indian, Chinese, Continental, and Desserts
#3. Health And Wellness Franchise Business
The health and wellness industry in India is reaching a market size of USD 1,299.84 billion by 2024 and is expected to grow at a rate of 5.55% during 2023-2028.
The concept of wellness has evolved to encompass not just fitness and nutrition but also overall physical and mental health. The industry is expected to continue to grow as a result of growing recognition of the value of health and wellness, with a focus on personalized health and wellness products and services.
Thyrocare is an Indian multinational chain of diagnostic and preventive care laboratories, headquartered in Navi Mumbai. The company operates with a Central Processing Laboratory (CPL) in Mumbai for esoteric tests and Regional Processing Laboratories in major metro cities of India.
Founded in 2016 by Dr Anuneet Sabharwal, the Happy Tree is a rehabilitation centre franchise that offers treatment for individuals struggling with addiction and mental health issues.
#4. E-Learning Franchise Business
The e-learning market in India is experiencing significant growth, with a market size of USD 6.4 billion in 2022, projected to surge to USD 12.77 billion in 2028. The COVID-19 pandemic has accelerated the adoption of e-learning in India, highlighting the importance and effectiveness of online learning. The government has recognized the importance of e-learning in improving access to education and has included a focus on e-learning and digital infrastructure in the National Education Policy 2020.
The flexibility and convenience of e-learning make it an attractive option for working professionals and individuals looking to upskill or reskill.
Numerique Academy's offerings include live digital training programs, with a focus on areas such as blogging, personal branding, video creation, and funnel marketing.
An edtech company that offers online courses and degree programs in collaboration with universities and industry experts in various fields, including data science, management, software engineering, digital marketing, and entrepreneurship. The company was founded in 2015 by Ronnie Screwvala and Mayank Kumar and is headquartered in Mumbai.
#5. Pet Care Franchise Business
The pet care market in India has recorded a yearly increase of 22% since 2020, and it is expected to continue to grow at a rapid pace, with the pet care market value estimated to reach INR 74,000 crores and even USD 1 billion by 2026.
Rapid urbanization, nuclear family set-ups, and pet humanization have been instrumental factors in the boom of pet ownership in India, further contributing to the growth of the pet care industry.
It's a pet boutique themed on a Thai spa. The brand provides unique and exclusive pet facilities, including mobile grooming, day and night care facilities, and a range of organic products imported from various countries.
A Scandinavian pet food brand that offers super-premium, 100% natural pet food products using human-grade ingredients to ensure the best results for pets and supplements that meet each pet's nutritional needs.
#6. Logistics Franchise Business
The logistics sector is already growing steadily at a rate of 10-12% YoY, contributing 14.4% to India's GDP and employment. The Indian logistics market grew from USD 190 billion in 2019 to USD 435.43 billion in 2023 and is set to touch USD 650.52 billion in the next five years.
The rise of the logistics industry is driven by factors like increased production capacity, rising domestic and a favourable global demand outlook.
An Indian logistics and supply chain company based in Gurugram, founded in 2011. The brand provides a range of logistics services, including express parcel, warehousing, cross-border, fulfilment, and eCommerce solutions.
Speeder Shipping Services Pvt Ltd Franchise
It is a fast-growing logistics startup in India, offering end-to-end logistics services. The company has developed an app that offers various logistics services, including cargo, truck booking, instant local trucks, hyperlocal deliveries, and international shipping, all in one platform.
#7. Consultancy Franchise Business
The Indian consulting market is projected to reach USD 24 billion by 2025, up from USD 7.8 billion in 2020.
The consultancy business in India is driven by factors such as the country's growing economy, the rise of startups and entrepreneurship, and the need for businesses to navigate the challenges of the COVID-19 pandemic.
With a history dating back to 1998, FranchiseBAZAR has established itself as a prominent franchise business investment advisory and new business ideas marketplace in India.
RecruitingHub Franchise
The company was founded by Madhan V and Durga Rajasekaran. is an online recruitment agency marketplace that connects employers and recruiters to the job seekers to fill vacancies in India.
#8. Financial Service Franchise Business
The Fintech Market Opportunity is estimated to be $2.1 trillion by 2030, with Indian fintechs being the second most-funded startup sector in India in 2022. The financial services industry is on the cusp of substantial change, with new technologies and rising consumer expectations reshaping the structure of the industry.
Started in 1987, Motilal Oswal offers online stock trading platforms and is known for its research-based advice and investment services. It has a diverse range of offerings, including broking, distribution, investment banking, institutional equities, and private equity investments.
myPaisaa is India's first 100% digital chit fund firm, licensed by the Government of India. The company offers bank-level security for an account and has enterprise-grade security measures in place to ensure that every detail, including personal and investment details, is kept secure.
#9. Travel Franchise Business
According to the World Travel and Tourism Council (WTTC), the industry's contribution to the GDP is projected to reach about INR 16.5 trillion in 2023, underlining its vital role in the nation's economic resurgence.
The Indian travel market is expected to touch the USD 125 billion mark by FY '27, with rapid growth in international travel and the Indian airline travel industry projected to more than double by 2027.
So, the future of the travel business in India is marked by a blend of growth, innovation, and delightful experiences.
Founded in 2008 and headquartered in New Delhi. The brand offers a wide range of travel services, including flight bookings, hotel reservations, holiday packages, and more.
In conclusion, the success of these innovative business ideas will not only contribute to economic prosperity but also shape the narrative of India's entrepreneurial journey on the global stage. Encouraging a culture of innovation, supporting startups, and fostering collaboration between industries and the government will be crucial in sustaining this momentum and unlocking the full potential of innovative business endeavours in India.
To learn about more innovative business ideas, visit FranchiseBAZAR.
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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