Do you want to start a business in Tripura with low-investment? Here in this post, we have explored in detail major investment opportunities for domestic and foreign investors and also business opportunities that can be started with a low budget.
Tripura is a comparatively small state in the northeastern part of India. However, the state offers profitable investment opportunities both in small and large scale in abundance.
Tripura is predominantly an agrarian economy. Rice is the main agricultural crop. The state happens to be the second-largest producer of rubber in India. Horticulture is another sector one can explore in the state of Tripura. Major fruit pineapple, oranges, jackfruit, and litchi. Jute, cotton, tea, cashew nut, ginger, turmeric, chilly, potato, and tapioca are also grown.
If you want to start a business in Tripura with low investment, you can consider the below mentioned small business ideas:
Top 10 Small Business Ideas in Tripura
#1. Car Wash
Most of the people in Tripura use the road for everyday travel. So, the population density of cars is very high in Tripura. Therefore, opening a car wash business is a lucrative opportunity here in the automotive industry.
Generally, you can initiate the car wash business in two ways. One is opening a car wash center and another is the mobile car wash business. Starting a mobile car wash business doesn’t require any commercial space for operation. So, it is a low-cost option for opening a car wash business.
#2. Computer Training Institute
The literacy rate in Tripura is very high. In the current digital era, computer education is a basic need for every individual. Also, specialized courses have huge job potential. Some of the popular job oriented courses are animation, digital marketing, web designing, graphic designing, etc.
Numerous organized companies are offering franchise opportunities for new entrepreneurs today. If you are a beginner, you can consider starting the business as a franchise partner of an established brand.
#3. Diagnostic Center
If you want to start a business in the healthcare industry, you can open a diagnostic center in Tripura. Not only the city areas but small towns and rural areas are also the perfect place for this business.
Opening a diagnostic center requires startup investment in securing the space and procuring the testing equipment. Also, you need manpower support. If you don’t have any prior experience in this sector, you can start this business as a franchise. Some of the most renowned names are Dr. Lal Path Labs, Thyrocare, Mankind, Dr. Reddys, etc.
#4. Kids Store
If you want to start kids or baby-related business, then you can open a kids store in the city areas of the state Tripura. Broadly, the industry has several major segments. These are kidswear, baby care products, books & stationary, toys & games, furniture, etc.
Also, you can open a niche kids’ store focusing on a single or a few segments. As an example, you can open a toy store or kidswear store, etc. If the inventory procurement is a challenge you face here, you can consider starting as a franchise.
#5. Mobile Store
Most of the major Indian telecommunication companies are present in Tripura including Airtel, Aircel, Vodafone, Reliance, Jio, Idea, and BSNL. So, the smartphone has a great market here. Currently, the smartphone is one of the most selling products in the electronics segment. Also, the top companies are launching new models with new features frequently.
In this scenario, starting an exclusive mobile franchise store is a lucrative opportunity for entrepreneurs. Also, the business requires a small retail space and small startup investment. Find here Top 5 Mobile Phone Franchise Business Opportunities in India.
#6. Momo Business
Starting a momo business is a wonderful option for entrepreneurs who want to start a low-cost food business. Currently, there are four options available in the momo retailing industry. These are momo delivery, momo QSR (Quick Service Restaurant), momo kiosk and momo in the vending machine.
Momo has a strong presence in the North Indian states including Tripura. Commercially, you can consider both the options like roadside stall and restaurant.
#7. Motorcycle Dealership
Bike or motorcycle is a very popular means of conveyance in Tripura. Most of the working population depends on the motorcycle for their regular travel. Hence, it has a good demand in Tripura. Also, opening a motorcycle dealership business is an easy business to start. However, the business needs a commercial space for operation and startup investment.
Most of the brands offer dealership opportunities for new entrepreneurs. You may follow the newspaper for advertisement or you can directly apply from the relevant websites. Some of the most popular brands are Royal Enfield, Hero Moto Corp, Yamaha, Bajaj Auto, etc.
#8. PCD Pharma Franchise Business
PCD stands for Propaganda cum Distribution. It is also popular as the franchise marketing concept. Generally, small pharma companies come under this segment. The business requires small startup investment along with networking skills. Also, you need to have a little bit of experience in the industry.
A lot of pharmaceutical company offers PCD pharma franchise opportunities in the state Tripura. Before finalizing one, you must carefully go through the terms & conditions they impose.
#9. Saree Business
Saree is one of the most popular ethnic wear in India. The women wear saree on occasions, celebrations, and festivals. So, they buy saree on almost every occasions throughout the year. Also, saree provides a good retail margin. Understanding the specific requirement and inventory management are the most important aspects of the small saree business.
You can start a saree business in three simple ways. One is a saree retail shop, the second is wholesaling and the third is online saree shop.
#10. Travel Business
Tripura has several places of tourist importance like Agartala, Unakoti, Pilak, Udaipur, Neermahal, Tripurasundari Temple, Ujjayanta Palace, Jampui Hill, Bhavaneswari Temple, Sepahijala, Kamalasagar, Deotamura, and Dumboor Lake. Moreover, there are the Buddhist monasteries in Agartala, Pecharthal, Kanchanpur, Manu Bakul, Pilak, and Boxnagar.
Places attract numerous tourists every year. So, you can start a travel business there with a small retail space and a low budget. For online ticketing, packaged tour, and hotel booking, you can apply for the franchise from renowned companies like MakeMyTrip, Yatra, etc.
We hope, this list of best small business ideas in Tripura will help you in making an informed decision towards starting your own business.