Luxury Business Ideas for Entrepreneurs in India
Luxury Business Ideas for Entrepreneurs in India
Starting a business is always a fun idea, to begin with. While it is something that can lead one to pursue something they are passionate about, a startup can also lead one to financially independent. Now, if you have been looking to build a successful startup and find the luxury industry as a good market to ensure, then these luxury business ideas are for you.
These outright luxurious ideas are the ones that have the potential of getting successful if you are equipped with the guts to start turning their dream into reality. While hundreds of businesses start with minimum capital, others have a pocket full of cash but lack the idea to make their business click, so if you have the finance to 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 a luxury service that you can offer. The men behind the scenes at these events usually services which include different individual elements such as event planning, professional emcees, ushers, and valet parking all packed in one.
What you require is to have good contacts with business owners hosting trade shows and special events along with the other major service providers that usually cater to the high-class events which can help you provide credible services and establish your name in the industry as you have an excellent shot at gaining repeat clients.
2. Rent Out Luxurious Cars: This service is again what one can think of for the high-end events organised across different places in the country to allow the celebs and VIPs to travel from hotel to the event place and vice versa in the luxury cars.
The car rental services are common, but you can take it to another level by renting out luxurious cars at affordable prices for those who are either event organisers or the people who’ve always wanted to ride in a luxurious Lamborghini or a Bentley.
The wealthier clients who don’t want to use their car while on an outing can still indulge themselves by using a premium car rental service as well. In this luxury business idea, although the initial capital required is high but the returns prove to be massive and quick and you can also charge a fixed sum for a car or provide hourly rentals.
3. Sell Speciality Rugs: Luxury homes that represent the royalty and class are what people look for and they usually end 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 as they have an innate beauty that seems to draw in rich people to speciality rug stores.
Since you are already aware of the high-end clients you will be dealing with, paying attention to the rug quality proves more beneficial. All you have to make sure is to make the ends meet as the affluent clients are looking for the quality rugs and they will be retained as they will keep coming back looking for the touch and feel of the rugs in your selection.
One can source these rugs from the Indian craftsmen who have been designing unique and quality rugs for generations and also strike up a deal with a foreign supplier who will provide a variety of Indian, Persian, and Oriental rugs and carpets.
This business idea will involve high initial capital because the suppliers often require bulk orders to build trust along with the required capital that will be needed to be invested in the duties and taxes payable.
4. Interior Decoration: Starting your own interior decoration company puts yourself in a position to embellish the homes of wealthy people who like to have people with their creative flair and artistic abilities add to unique and high-end insight to the homes.
The career is a great opportunity that can help you do what you love while earning money at the same time. So if you are passionate, then get certified as most clients are picky, and they like to work with certified interior decorators. You need to have resources to source designer furniture and fixtures. Since you will be working for posh clients, standard fixtures may not do the trick.
5. Luxury Technology for Homes: It is not news that technology has been transforming everything around us. Indian rich people are looking for equipping their homes with high-end home appliances to tech controlled homes which are showcasing the seamless integration of luxury and technology.
The demand for technology has seen a paradigm shift from mobile phones and laptops to the home entertainment and kitchen space inclusive of smart ovens that calculate and cook 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.