Luxury Business Ideas for Entrepreneurs in India
Starting abusiness is always a fun idea, to begin with. While it is something that canlead one to pursue something they are passionate about, a startup can also leadone to financially independent. Now, if you have been looking to build asuccessful startup and find the luxury industry as a good market to ensure,then these luxury business ideas are for you.
These outrightluxurious ideas are the ones that have the potential of getting successful ifyou are equipped with the guts to start turning their dream into reality. Whilehundreds of businesses start with minimum capital, others have a pocket full ofcash but lack the idea to make their business click, so if you have the financeto kick start your startup, then these business ideas may work in your favour:
1. High-End Events Planning Services:India has the latest trend of various VIPs and celebrity-studded events across.Be it the big fat Indian wedding of the celebrity stars Deepika Ranveer,or a corporate summit like Amazon Summit Mumbai, planning these events is aluxury service that you can offer. The men behind the scenes at these eventsusually services which include different individual elements such as eventplanning, professional emcees, ushers, and valet parking all packed in one.
What you requireis to have good contacts with business owners hosting trade shows and specialevents along with the other major service providers that usually cater to thehigh-class events which can help you provide credible services and establishyour name in the industry as you have an excellent shot at gaining repeatclients.
2. Rent Out Luxurious Cars: This serviceis again what one can think of for the high-end events organised acrossdifferent places in the country to allow the celebs and VIPs to travel fromhotel to the event place and vice versa in the luxury cars.
The car rentalservices are common, but you can take it to another level by renting outluxurious cars at affordable prices for those who are either event organisersor the people who've always wanted to ride in a luxurious Lamborghini or aBentley.
The wealthierclients who don't want to use their car while on an outing can still indulgethemselves by using a premium car rental service as well. In this luxurybusiness idea, although the initial capital required is high but the returnsprove to be massive and quick and you can also charge a fixed sum for a car orprovide hourly rentals.
3. Sell Speciality Rugs: Luxury homesthat represent the royalty and class are what people look for and they usuallyend up choosing unique and high-end furniture and other elements for the same.Now, when it comes to class, rugs are something that strikes the mind asthey have an innate beauty that seems to draw in rich people to specialityrug stores.
Since you arealready aware of the high-end clients you will be dealing with, payingattention to the rug quality proves more beneficial. All you have to makesure is to make the ends meet as the affluent clients are looking for thequality rugs and they will be retained as they will keep coming back lookingfor the touch and feel of the rugs in your selection.
One can sourcethese rugs from the Indian craftsmen who have been designing unique and qualityrugs for generations and also strike up a deal with a foreign supplier who willprovide a variety of Indian, Persian, and Oriental rugs and carpets.
This businessidea will involve high initial capital because the suppliers often require bulkorders to build trust along with the required capital that will be needed to beinvested in the duties and taxes payable.
4. Interior Decoration: Starting yourown interior decoration company puts yourself in a position to embellish thehomes of wealthy people who like to have people with their creative flair andartistic abilities add to unique and high-end insight to the homes.
The career is agreat opportunity that can help you do what you love while earning money at thesame time. So if you are passionate, then get certified as most clients arepicky, and they like to work with certified interior decorators. You need tohave resources to source designer furniture and fixtures. Since you will beworking for posh clients, standard fixtures may not do the trick.
5. Luxury Technology for Homes: Itis not news that technology has been transforming everything around us. Indianrich people are looking for equipping their homes with high-end home appliancesto tech controlled homes which are showcasing the seamless integration ofluxury and technology.
The demand fortechnology has seen a paradigm shift from mobile phones and laptops to the homeentertainment and kitchen space inclusive of smart ovens that calculate andcook for you, chromotherapy showers and smart mirrors which track your health.
With so many business ideas out there, you have a plethora of options to start your startup to choose from. This is the opportunity to make the most of your money by trying one of these ideas and starting your journey toward financial freedom.