Indore is the most densely populated city in central India. One of the well-known names in Madhya Pradesh is Indore. Currently, the micro, small and medium scale businesses are flourishing in Tier 2 cities of India and Indore is no exception. Business opportunities in Indore are shooting up high in terms of profit and expansion. If you are looking for reason to set foot in entrepreneurship then here are some of the reasons why Indore is the best you can do in Tier 2 cities:
Indore has many food joints. The food joint business here has gained favor as the people of Indore are obsessed with food. That, I believe, is common in most of the Indian towns, cities and villages. Indore is the city of dinning places and street food. Your finger licking recipe will surely be a hit here.
IT companies are increasing in number and one of the profitable businesses here is IT sector. With the IIT Indore functioning here, research in this field has also enriched over the period of time. Business option here cannot be defined in a few paragraphs. To get a detailed idea of the opportunity in IT sector you must get consulted by business consultants in Indore.
With IIM an IIT, the educational sector has experienced a positive growth. Different students from different part of India are here. Students form an effective buying force. Creating products and services for these students will be profitable. One can go for mess services to students or set up coaching classes.
Retail shopping Market:
People in Indore are huge purchaser of lifestyle products. The malls here are doing well. New brands receive warm response. A lot of international brands have been introduced here. You can look for an opportunity in the retail industry.
Industrial Capital Pithampur:
The industrial capital of Madhya Pradesh is Pithampur. As a result, there are many factories of heavy industrial products here in Pithampur. The distance between Indore and Pithampur is around 30 kms which will takes about an hour if one travels via Indore-Dhar road. You can have an innovative idea here to serve in an ancillary industry.
What is an ancillary industry?
Ancillary industries develop as a result of development of the main industry. The firms in ancillary industries are engaged in supplying parts, small components, and raw materials. One can say it is the supporting industry to the main industry. Pithampur gives a fine opportunity for supply of ancillary products from Indore to Pithampur. The distance is short and easily commutable.
Low cost of Living:
The profits margins are dependent on rent, the labor cost, raw materials and many other small expenses. As these cost increase, your profit goes on narrowing. Indore has low cost of living. Compared to metro cities the market here is good and the cost low. If you are new to business then it is suggested you start off from cities that have lower cost of living rather than places like Delhi, Mumbai and Bangalore.
Devi Ahilyabai Holkar Airport of Indore will help in faster commuting.
In order to find out more business options you may Google up some business consultants in Indore. They will help you understand the market better and help you get through the legal process. A business consultant will also help in fool proofing your plan and laying out an effective business plan.