Business Ideas In Bihar
Mar 12, 2022
Bihar is located in the eastern part of India and is now called a developing state because most entrepreneurs are looking to establish their businesses in Bihar. The state is famous for high-quality silk, jute industry, sugar industry, etc. Day by day, the state is rapidly growing in businesses like restaurants, malls, hotels, coaching institutes, and many more.
Bihar, thanks to its proximity to Nepal on the North-East provides a unique advantage. It has 52 industrial areas and mega industrial parks. The state is also famous for exports of vegetables, milk, fishing, and cattle husbandry. The state is now brimming with new business ideas.
What are the best business ideas in Bihar?
There are a lot of profitable business ideas in Bihar. We have curated a detail of some of the best business ideas in Bihar.
In Bihar, starting a salon business is a highly profitable business plan. Nowadays, it is one of the hottest trends in the business market. Setting up a salon business in Bihar requires a small amount of investment and requires the main focus on other things like location, expertise, skill, retail operations, etc. There is a high demand for salons in Muzaffarpur, Patna, Gaya, etc. The cost of investment is written below:
- Location (200-300 sq. ft area) – INR 10,000
- Establishment cost – INR 50,000 to 70,000
- Grooming items – INR 50,000
- Expert stylist – INR 15,000
Computer training institute
The other option for a businessman is to open a computer training institute that helps train students in computer technology. Computer institutes are in high demand in Bihar. The students can learn new programming languages and various software’s at computer institutes and then progress from there. At the moment, it is one of the best business ideas in Bihar.
- Location (300-400 sq. ft area) – INR 15,000
- Cost of hardware and software – INR 2,00,000
- Cost of the desk – INR 25,000
The idea of opening a shop of wheat processing machines is another business idea in Bihar business people can consider. This business, known as an atta chakki, requires a grain processing machine that is affordable and easy to install. The chances of failure of this plan are very low. The cost of investment is not that high either.
- Cost of grain processing machine – INR 50,000 to 85,000
- Electricity, rent and maintenance exp – INR 10,000
- Profit – approx. INR 10,000
Restaurants are a profitable business opportunity in Bihar. It can operate successfully outside schools, colleges, offices, tuitions centers, and even in local colonies, etc. It requires a considerable amount of investment but gives high returns in profits. Here is the estimated cost for the same to get you started.
- Cost of furniture and interior – INR 2,00,000
- Cost of kitchen types of equipment – INR 2,00,000
- Raw material cost – INR 50,000 to 70,000
- Labor and electricity bill – INR 50,000
Setting up your own transport business is another great option that you can look at. It is especially good for youngsters who are looking for a job opportunity. It does not require a huge amount of money and can be started with just two or three vehicles. The businessman can transport food, milk, and vegetables and also provide cars as a cab to the general public. The cost of investment can range up to a few lakhs, depending on the number and kind of vehicle.
- Cost of purchase of small trucks – approx. INR 4 to 5 lakhs
- Cost of purchase of cabs – INR 2-3 lakhs (according to vehicle model)
Xerox and printing shop
It is another of the best business ideas in Bihar that you can consider. It is a profitable idea because xerox printing is always in high demand. A businessman can earn lots of money through this business. This business has high demand near the schools, government offices, colleges, and many more. This business can be started after just purchasing a xerox machine, which is easy to install and simple to use.
- Cost of shop rent – INR 15,000
- Cost of xerox machine – INR 1,50,000 to 3,00,000
- Cost of computer system – INR 20,000
Tailoring shop is another business which a business person can start in Bihar. It requires skills to stitch garments. This business needs a small amount of money and a team of just a few people. The vendor can start a business at home without any particular shop and license. Later, after adding the designing portion vendor can mold the company into a boutique shop. The cost of investment is written below:
- Cost of sewing machine – INR 6,000 to 8,000
- Rent for shop – INR 50,000
What are the Small Business Ideas in Bihar?
There are many new business ideas available to set up business in Bihar on a small scale, such as Pani Puri stall, beekeeping, fruit juice corner, tea bag making, food catering, bakery, livestock feed production, papad making, coaching institute, and many more.
There are some points which a business person should keep in mind before starting any type of business at small scale or large scale these are:
- Firstly, prepare a rough plan
- Apply for a unsecured business loan at a time of shortage in finance
- Take grant from all permits and licenses
- Decorate the interior of business place or shop to attract customers
- Must follow the marketing strategies
- Must use social media for marketing purpose
- Take shops of rent for starting a new business.
Starting a business in Bihar takes a good amount of planning. Bihar is famous for a list of large and small-scale businesses such as salons, restaurants, fruit juice corners, food catering, xerox and printing shops, coaching institutes, computer training institutes, and many more. Bihar is a state which is growing with the changing technology. In the coming years, the state will touch the grounds of prosperity, and it will be great to start a business in Bihar.