Coimbatore, the second-largest city in the state of Tamil Nadu after Chennai. After saying the word Coimbatore, the first thing that comes to mind is the fine textiles and educational institutions. It is also a major hub for the manufacturing, education, and healthcare. Coimbatore is among the fastest-growing cities in India. It is called the “Manchester of South India” due to its extensive textile industry.
The city is also a major educational hub. Coimbatore home to seven universities with 78 engineering colleges. The list doesn’t end here. It has also 3 medical colleges, 2 dental, 35 polytechnics, and 150 arts and science colleges. It also has a reputation for entrepreneurship and starting a business venture will be very much profitable.
When it comes to starting a business, Coimbatore proves to be a very good hub for it. It has many potentials to grow a business in the city. After some research in-depth, let us discuss some of the businesses in this city.
Also, people in Coimbatore will welcome you with open arms. They will become your biggest motivation and they will cheer you up every time you are stuck with something. It is a favorable hub for entrepreneurs because of the setup of ITs.
Here comes a few ideas that one can start in Coimbatore:
WHOLESALE TEXTILE BUSINESS
When the city itself is an expert in something, then taking on that thing as a business is a very profitable idea. Textile business is one of the lucrative businesses to start in Coimbatore. It’s up to you to that you start a wholesale, manufacturing, or retail unit of the garments. In every unit, you will definitely get profitable.
To start a wholesale business, you can purchase the material in bulk from any well-known manufacturer at a negotiable rate. With this, you can start your own garment wholesale business. It is known for its textile so purchasing material will not be a problem at all.
Once you set your shop in the market, then you can also make a platform on social media. This will act as an additional income for you. The reasons that one should start this business are because of the demand for textiles. It is a highly lucrative business. You can set up your market offline and online. The last reason to start this business would be it is a product-based business.
TOURS AND TRAVEL AGENCY
Venturing into the tourism industry is always a profitable and lucrative idea. You can sell your holiday packages to exotic international destinations and can also arrange a proper itinerary for the tourists. This will help you in grabbing the attention of potential tourists.
Nature is the main advantage in the city. The city has everything to provide a joyful vacation to all its tourists. A tour and travel agency is a good idea to start. All you need is the skill is to utilize the city’s scenic beauty to turn it into a profitable business.
You can start this business online and will save you the cost of other spaces. The common tourist attraction is, Vydehi falls, Marudhamalai hill temple, Monkey falls, VOC park and zoo, and many more scenic places. Coimbatore is the natural tourist magnet and will be highly profitable to start. This business can be started online to avoid any overhead costs.
Choose the right business identity for the business. Decide upon the type of services you will be providing. Take the help of the internet to explore the business and research well.
A dress shop literally means selling women’s clothing. But now the trends have changed, owners now sell both men’s and women’s clothing. As mentioned above, Coimbatore is a hub for the finest textile production. Starting a dress shop is the best idea in the city.
There was a time when people shop only at the time of certain occasions, but nowadays people shop throughout the year. Fashion changes with time and so does the taste of the customers. Keeping the advantages that the city provides you, this is the best business to commence.
The city is known for its textiles, the products are always in demand, highly profitable business. These are the reasons one should start this business in Coimbatore. This business can easily be started by women entrepreneurs also through their homes.
Women can easily sell sarees and dress materials by renting small spaces. You can also take the space on lease and can easily sell clothes, accessories, and shoes.
Plan your business and what you want to do with the business. Take help of the social media platforms and promote your store and products. Market your store and follow the latest trends. Do market research every time and know about the preferences of the customers.
CREATING AN ONLINE PLATFORM FOR SOCIAL MEDIA INFLUENCERS
Nowadays social media is flooded with influencers and connecting with people is made easy. You can connect with anyone in the world and from any corner. In this business, all you need to develop is a website that will serve as a bridge between companies and social media influencers.
Creating an online platform for influencers having hundreds and thousands of followers is the best business idea you can start in Coimbatore. The demand for social media has increased over time. Keeping this in mind you can generate huge profits out of it. Help different companies to find the right influencers to increase the marketing of their products and services.
The most integral advantage of this business is that you do not have to leave the comfort of your home. By sitting in your room you just have to create a website and connect the companies with the influencers. Create significant portfolios of the influencers with their details that will help the company choose better.
It requires negligible or very little investment, this is the in-trend business. This is an online business, so you will avoid many overhead costs. This business is highly flexible and highly profitable.
REAL ESTATE AGENT
If this business is done correctly and in the best locations, then this business can turn out a huge success for you. It also doesn’t require much initial investment. This is one of the most highly lucrative business ideas to start in the city.
Being the plethora of educational institutes and store for numerous spare parts manufacturing units, starting a real estate business there is a very profitable idea. The above-mentioned facts show that many people migrate to the city either in search of quality education or for work. Hence they require a space for a living. So the demand for real estate agents has increased. With such a population growth rate, there comes a need for more residential and commercial spaces.
That is why starting a business of real estate company will offer you a great opportunity and a way to get ahead in Coimbatore. You can even tap into renting along with the sale and purchase of the properties to generate additional revenue out of it. Renting is something the youth of the city is fond of. Commercial properties are often rented at higher prices meaning your commission will be very decent.
If you can use your network tie-ups and connections properly you will surely take this business to heights. It requires a meager initial investment, is a sole proprietorship. The business will generate huge profits in the long run. It is always in demand business.
Coimbatore being a textile city, so handicraft business or embroidery business will give you a great start. Handmade embroidery is an art that is always in demand and fashion in the city. If you are an expert in designing then this business is surely for you.
Starting an embroidery business will be very much simpler because of the availability of raw materials in abundance and skilled workers. You just need to design the garments keeping in mind the latest fashion and trends. One can transform your passion into a profession and earn huge profits.
You would require an embroidery sewing machine. The business also needs expert staff according to the size of your business. Be ready with the arrangement of small tools like threads, spools, needles, spare parts, other things. Register and insure your business. Your loved ones, relatives, and family members can become your potential customers.
You can also create social media pages and websites to promote your products and gain the attention of the market. Create embroidered clothes for all age groups, when people see something unique in the market they definitely purchase it. . Create a close unit, invest in a good embroidery machine.
If you have enough experience in the field of teaching, then this business is best for you. Coimbatore, as we all know is an educational institution, will be a very profitable business to start. In today’s generation coaching center is a necessity for students of all age groups. The reason for this being the different types of competitive exams.
This business requires the teachers to have expertise in different subjects. The city is the hub for higher education. Highly lucrative and always in demand business. The requirements for starting a coaching center are commercial space at the central location where you can attract students. You need adequate lighting, furniture for the seating arrangement, expert faculty. These are the basic requirements.
It can be anything you are great at, English language, Accounts, Business Studies, Mathematics, or any other foreign languages. Parents of the students pay thousands for one subject at big coaching centers but you can provide this service at a lower price and can guarantee them excellent scores of their child. If you love explaining concepts so be its primary classes or college students, you are looking back from opening this business. You can also provide services like home tuitions to the students who can not visit your place due to some reasons, this will gain you extra income.
You can start this firm to help both skilled and unskilled laborers. Those who have just passed out of college and don’t have any experience can be made them recruit to the firm. Your agency will act as a connection between hiring companies and the individual’s desire for jobs. Through this, you can earn great commissions.
The big companies want to recruit talented and skillful people for this purpose, they outsource hiring procedures to another company. By starting your own recruitment firm in Coimbatore, you have the advantage of gaining more because the availability of such firms is a little less. Coimbatore is filled with youngsters because of most of the college being there and especially of engineering. So starting this business will only be advantaging you and this is the best business to start in Coimbatore.
DIRECT SELLING AGENT
DSA is a person who works as a referral agent for a bank or NBFC. The main job of a DSA is to find potential customers for the bank they are representing. They don’t just gather potential leads but also procure the completed loan application from their leads along with required documents, conduct a preliminary check of both the application and the documents, ensure that the documents provided are genuine, upload or submit these documents and the application form and provide their DSA code so the application can be traced back to them.
You can earn additional income by providing your services as DSA, the amount you earn may vary from lead to lead, you can run your business with minimum cost with very little risk, there are flexible working hours, not much education is required, your training is provided by the bank or NBFC.
A direct selling agent or DSA is a person who works as a direct referral agent for a bank, the main role is to find potential customers for the bank or a financial institution they are representing. This business is highly profitable and payout can be varied because it depends on the leads or the customers one can bring for that particular bank.
There is tremendous growth for this business in the market because of the increasing rate of loan taking capacity of the people these days, also with the increasing marketplaces, there is a tremendous increase in the demand for loans among people. You can be a DSA irrespective of your job and can earn additional income, you will also be recognized as a channel partner of the prestigious financial institution.
This can become an ideal opportunity for being an entrepreneur, you can also work part-time in this field, this business does not require any sort of higher education, you do not require any kind of initial deposit for this business, you do not have to worry about the deadlines and time limit.
One has to sell the bank products proactively to new/ prospective customers. They also have to maintain accurate records of all the sales activities, budget achievements and cross-sell referrals. One also has ensured the accuracy of all the bank forms and documents executed by the potential customers. They are also known as Business Correspondents or Loan Officers.
Graphic designing is a business where people create visual content to communicate with the targeted audience, they create ideas to inspire the audience, they develop the overall layout and the designs by using computer software or through their hands.
There are different types of graphic designers which include, visual identity graphic design, marketing, and advertising graphic design, marketing graphic design, user interface graphic design, publication graphic design, packaging graphic design, motion graphic design, environmental graphic design, art and illustration for graphic design.
You can either work full-time or part-time and earn a good amount of money. Find your first graphic design clients, set your pricing, name your graphic designing business, build a basic website, develop a simple graphic designing plan, communicate with your clients, deliver high-quality projects on time, write and send professional invoices, collect payments from your clients, ask for referrals.
The main role of a tax consultant or a tax advisor is to help people and organizations to pay their taxes. It deals with giving expert advice for the business on how to manage and file their taxes. Tax laws change from time to time and many people or organizations might be unaware of the laws and regulations, so a tax consultancy helps them in understanding those laws.
The services that a tax consultant provides includes, collecting, organizing, and preparing tax documents and returns, evaluating a client’s financial and legal circumstances to determine tax liabilities, assisting clients with tax issues during and after a significant life transition, completing complex tax forms and schedules that most tax preparers are unaware with.
Becoming a tax consultant and opening a tax consultancy firm requires preparation in the form of education, and in some cases certification, registration, and licensing. Tax consultants also help their clients in making wise decisions related to tax issues. Filing tax return should not be your only business, send free newsletters and other updates, prepare and update tax calendar followed by marketing activities, equipped with client management software, share before you sell, give referral incentives, get membership of the local chamber of commerce and other relevant bodies, organize seminars and symposium.
It will always be beneficial if you start your tax consultancy firm because people will definitely take advice from you as you are there to save their time and know that being a tax consultant, they know everything about the government. tax laws and regulations. It is also hassle-free, in a nutshell, a tax consultant will solve all your financial-related queries.
It is a marketing arrangement in which an online retailer pays commission to an external website for generating customers for them and sales generated through their referrals. Set up a website, blog, or some social media profiles and earn money by posting affiliate links to relevant products or services. This one of the best businesses with very negligible investment.
Let us understand how it works, let us suppose that if you have reviewed a new smartphone and posted a video of its on youtube and also provided its Amazon link in the description box, so if anyone within 24 hours purchases that smartphone you will be getting a fixed amount of commission.
The best part of it is that you can generate a full-time income with very low investments. Set up a website, blog, or some social media profiles and earn money by posting affiliate links to relevant products or services.
Find an affiliate program, choose which offers to promote, obtain a unique affiliate link for each other, share those links on your blog, social media platforms, or websites, collect the commission anytime someone uses your links to make a purchase, create great content, drive traffic to your affiliate site, get clicks on your affiliate links, convert clicks to sales. You can earn income through marketing another’s person products and services by putting in your knowledge and skills.
This business is very trending right now and it includes using online marketing strategies to promote the products and services offered by the company or your business. The digital market puts you in those online channels where your customer can see you because your target audience is available on the social media platforms, make sure you create content that makes them engaged, consistent.
Digital marketing helps in creating awareness for the sale of the products, it will also help you in getting new customers with the help of your earlier customers, one should be well aware of all the internet tactics and strategies because there may occur changes in the trends.
Develop the skills required in online marketing, build landing pages, design ads, properly implementing tracking, be a contractor before becoming a founder, develop the right business model with the correct mindset and attitude towards the business, define your niche to have the customers a better understanding of what you are offering, decide how you want to expand and grow, make the decision wisely and choose everything effectively.
CAREER DEVELOPMENT CENTER
The ultimate aim of the career development center is to provide the right direction for students. These centers prepare students in all types of fields starting right from communication to teaching them managerial skills. Coimbatore has seen an increase in its IT and BPO companies.
Due to this reason, the requirement of skilled and competitive employees has been burgeoned. Before landing into their dream companies you will train enrolled students to polish their skills. Make these students identify potential career options. The available faculty will make the students understand the available options in the market.
You should also tell these potential employees the demanding business. Let them compare all the available options for a career. Assessment, exploration, preparation, implementation, and decision making are the keys.
PROVIDING SERVICES OF LOGISTICS
This is one of the highly demanding businesses right now. The reason behind this is an increase in the e-commerce business. Companies like Amazon, Flipkart, myntra, are outsourcing logistics employees for delivering their orders.
Get your finances in order, obtain the proper licenses and insurance from a reliable source. Create a business plan. You can start a business transporting goods and orders. Starting your logistics firm is another best option. Choosing a perfect location for your business is another important aspect.
Web development is the building and maintenance of websites, you have to work from behind to make a website look great, you need to work fast and perform well to make a website look great. Website development is the way to make people aware of the services or the company’s brands and make them understand the relevance of the products.
Web designers are part artists and part tech geeks. This business can be done from anywhere you have internet access. You need a home office that is quiet and free from distractions, Hardware, including a computer, quality monitor, scanner, printer, and digital camera, Software for graphics, photos, and video, which may be free or cost hundreds of dollars. A high-speed Internet connection and perhaps server space for site hosting and testing, a menu of the services you’ll provide, and what you’ll charge for them.
A contract that outlines all the policies on how you work. A business plan, outlining your services, target market, and financial goals. A marketing plan that includes your target market and how you plan to reach it.
A website of your own that not only represents your skills but offers a place to showcase your portfolio of work online. Marketing materials, such as business cards and brochures. A strong network to access for possible referrals.
If you do not want to start your own business and also don’t want to do 9 to 5 jobs, you can always do freelancing in any field you are an expert in. One can offer freelance writing services, you can become an online business coach, manage social media accounts of the company, design website themes.
You can start your own freelance services or business by creating a website, this will help you in getting jobs from the companies wanted to hire you. As the economy of the nation is also presenting challenges to business owners and entrepreneurs, they are shifting to freelancing.
Some of the freelancing business ideas include stock photography, content writing, start a blog, social media marketing, youtube video creation, graphic designing, web development, business consulting, grant writing, Google advertising services, uber driver, and many more because the list is never-ending.
This business will be very profitable because of the availability of students and graduates in the city of Coimbatore.
Event planning/ management is the process of arranging parties, marriages, meetings, and ceremonies. An event manager is solely responsible for managing everything for the event. He is the ultimate planner, and key to everything like choosing a location, hiring caterers, entertainment, and arranging other vendors.
This business has huge potential and growth rate in Coimbatore. Apart from the working population, many residential people also live in the city so an event planning business is the best choice to start in Coimbatore. For an event planning business, you need to have a degree or experience in the field, license, necessary equipment, inventory, place in the market.
Some skilled and creative workers, funds to invest in the business. Gain event planning skills and experience to make the business successful, determine your event planning market/forte, make a business plan. Designate which business entity fits best for your firm, obtain business insurance, develop your network of suppliers and staffing resources, define your event.
Planning services, establish an event planning fee structure, secure funding for your business, focus on business development and marketing for your event planning business. Use the help of social media platforms to promote your business to get huge orders from potential customers, also use a PR company when possible.
Clearly define your scope of work, mission, goals, for the event business, search your market well. Spend some time learning tax laws and business filling in your area/locality. The event management business will turn out to be one of the most successful business ideas in Coimbatore.
INTERNET MARKETING AGENCY
Many companies are investing in increasing their online presence which can prove to be a very good business opportunity in Coimbatore. You can connect with the local businesses and can make them explain and understand the importance of a strong online presence and that could play beneficial in your favor.
This business can be listed on social media platforms to engage the audience. You can also create a website for the same. You should know digital marketing and hire different people like content writers, web designers, marketers, etc.
Most of the owners of the older shops do not even know how to socialize themselves, they are still practicing on brick and mortar concept. So with the help of an internet marketing agency you can help such owners and can earn good money. Since there is no possibility of social media slowing down you can always include new things on your list and work upon them.
It is an immensely profitable venture as social media never goes out of demand. Know your market, research well, be ready with the business plan to do things accordingly.
Starting a blog seems to be a great option if you know of any of the languages and to share your knowledge with others through writing. You can earn great by blogging from your home with nominal investment. It is one of the easiest, legitimate ways to earn money online. For starting a career in a blog or for writing a blog you should keep in mind a few things which are: subject of the blog, choosing a platform for blogging, how will you host your blog, purchase your word press hosting. If you love writing and love telling stories, share your experiences with the world and earn some money. So keep these little things in mind and you can have a great future ahead.
The main reason why bloggers are making money today because of the good content they post regularly. People start writing blogs sharing their viewpoints, opinions, teaching others what they know, selling and promoting their products. Consider the opportunities to monetize, pick an audience to serve, choose a blogging platform, lay the groundwork for distribution, plan out your publishing strategy.
Hope the list provided above will give you some ideas. Whatever business you choose it is important to keep in mind its advantages and disadvantages as the old saying suggests coin has two sides, so like that business also has two sides one positive and one negative and one should be ready for all the challenges and experiences they are going to have once they start a business.
Also, you should always have a positive attitude towards everything as it will help you in building your business more successfully. Let it be Coimbatore or any other city the most important aspect is your interest and how much effort you are willing to put into it.
Once you decide to give your 100 percent there is no stopping you. Always remember if one day you haven’t earned any profit it is not necessary that you have failed in your business, just keep trying, and then you will be astonished to see the results. Just knowing your locality and area and what is lacking in the area will benefit you in establishing your business. It does not matter if you have any prior experience in business your hard work will definitely pays you off !!