October 19, 2021
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15 Business Ideas to Start in a Residential Area

Are you looking for a Business Idea? Do you want to set up your own business this year? You are reading the right article. Here you will find 15 Business Ideas which you can start in a commercial area of your town.

We see a lot of business ventures around us. People are doing something to meet their bread and butter requirements. There are a lot of things which you can start even with a nominal investment. We will discuss these profitable business ideas one by one.

Keep in mind, these ideas are not for getting rich overnight. But you can earn a good income for your livings. There are chances of growth in these businesses with the passage of time. If you will give proper time and attention to your business, it will definitely pay you off in the future.

1. Mini Mart

Running a mini-mart or a grocery shop in a residential area’s commercial market is a very powerful business idea. Every household has to purchase bread, butter, eggs, soaps, shampoos, cleaning items and many other things on a daily basis.

You can avail of the opportunity by opening your Mini Mart in the area. Select a good location in the market for your shop. Arrange things on shelves by their category. Provide good service to your customers. You can also offer free home delivery of groceries for households to boost your sales. For providing delivery services, you just need to hire a rider and a bike. But it will result in increased sales and high profits.

2. Pharmacy or a Medical Store

We are human being and we get ill due to changing weather or any other reason. We have to visit doctors or any medical facility to ensure our health. Doctors prescribe medicine for patients. You can start a pharmacy or a medical store to address the patients’ medical needs.

Pharmacy Picture

But this business is not for everyone. To start a pharmacy or a medical store, you have to be a Pharmacist. Or you can start by hiring Pharmacists and trained staff. Check the other legal requirements for starting a pharmacy. This business requires a considerable amount of capital but it is a profitable business as well.

3. Laundry and Dry Cleaners

All people don’t prefer to do laundry by themselves, especially for their expensive and new clothes. Here it comes the idea to start laundry and dry cleaning services in a residential area. Students living in hostels are also your target market. You can start this business by opening a shop in commercial area of town. People will approach you for washing, dry cleaning and ironing their clothes.

Laundry and Dry Cleaners

Provide a pickup service for their clothes from home. Process them on your washing and ironing area and deliver them at their doorstep. This service has good profit margins.

4. Barber Shop

If you are a barber by profession, you can set up your own barbershop. But if you are not a barber, it doesn’t mean you can not jump into this business. Yes, you can still start this business by hiring a professional barber.

Barber

Set up a beautiful shop with all the equipment. Hire a team of two or three professional barbers on a commission basis. Or you can rent out this setup for a certain amount on a monthly basis. This idea can turn into passive income for you.

5. Mobile Phone Accessories

The number of mobile phone users is increasing day by day. You can notice that almost everyone has a mobile phone nowadays. So these users of mobile phones need some accessories for their use. They may need a charger, data cable, earphones, back covers, glass protectors or batteries. You can also sell new mobile phones, sim cards, mobile top-up, mobile phone repairing service and many other items related to mobile phones.

Due to an increase in mobile phone users, opportunities are also high in this business idea. There is a handsome profit margin in the accessories of mobile phones. You can purchase these accessories from wholesalers at a good price to increase your profit margins.

6. Baby Diapers Shop

Opening a dedicated Baby Diapers Shop in your area is a good business idea in which you can start with a nominal investment. This is a four seasons business. The demand for diapers never goes down. Have you ever noticed the number of children under the age of 3 in your area? These kids are your prospective customers.

Parents are much conscious about the health of their kids and they take care of the hygiene to prevent them from illness. That’s why they prefer to use diapers. You can avail of the opportunity. Provide your customers with good quality diapers at competitive prices. If you offer a home delivery service, it will be a plus for your business.

7. Electric Store

An Electric Store Business Idea always appeals to me. There is good potential in this business. If you have a little knowledge of electrical items, this business can earn good profits for you. We all are the users of electricity in our houses, shops, and offices. So, we all need the services of an electric store anyway.

You can market your electric store business to the contractors of houses. They need electric wires, switches, electric boards and other accessories that are being used during the electrification of a building.

An Electric Store also fulfills the daily needs of households and offices, whether they need an extension wire for their computer or a light bulb for their room. They will visit local electric store to fulfill their need. There are many other accessories that an electric store sells. We will discuss this business idea later in detail.

8. Hardware Store

As name shows, such type of store deals in hardware items. This is a very powerful business idea. If we take a look at our daily life, we often need many things for many purposes which we purchase from a hardware store. For example, we have shifted into a new house and we have to fix our furniture there. We need hooks to hang our clothes. We may require a hammer to fix something at home.

The list of items that we purchase from a hardware store is very long. We can not cover all the items in one article. Hence, this is a very lucrative business idea and the chances of failure are very low.

9. Sweets and Bakers

Sweets and Bakers Business Idea comes with an attractive profit margin. We notice sweets and bakers shop almost in every commercial area of the city. Because this business is the need of every resident of the area. People come to a bakery for purchasing cookies, cakes, pastries, and sweets for their occasions.

Especially in Pakistan and India, there is a tradition to gift cakes or sweets to relatives, friends, and family. Whenever we visit them at their homes, we bring some sweets or a cake with us as a gift. So, the demand for such items is high on weekends, celebrations or any other cultural events.

10. Stationery and Books Shop

I personally like the Business Idea to run a Stationery and Books Shop. There is a variety of items that a stationery shop offers to its customers. You can sell academic course books for school-going children, college students and youngsters who are graduating from a university.

Stationery and Books Shop

The literacy rate is increasing around the globe. People have a keen interest to educate their children. Approach schools and colleges and get into an MOU and supply them required stationery and academic course books. Become a vendor for offices, banks and other financial institutions and supply them printing papers and other stationery materials.

11. Optical and Wrist Watches Shop

There are many people around us who wear glasses due to any reason. They may be facing the problem of weak eyesight. Even people use sunglasses to protect their eyes from sunlight. The majority of senior citizens wear glasses. Bike riders use glasses to protect their eyes from dust and air.

Hence, we can consider jumping into this business idea. We need a technician to prepare eyeglasses according to the axis number prescribed by an eye specialist to the patients. There is a variety of sunglasses in the market which people wear with their outfits as a fashion trend as well. Set up a showroom for glasses and provide a variety of frames with quality.

The second product which we can offer with glasses is a wristwatch. We can also have a dedicated portion for wristwatches, table clocks, and wall clocks. Wearing a wristwatch is a fashion now. People used to wear watches as a fashion gadget more than using it to watch time. There are mobile phones in our pockets which we use to watch date and time. But still, wristwatches are not out of style.

Wall clocks are a mandatory gadget to hang on the drawing room’s wall. We all hang wall clocks in all rooms of a house. This is a good business idea to start.

12. Plumber and Electrician

If you are a skilled person and don’t hesitate to work on your own, you can offer your services in a residential area. Plumbers and Electricians make good money on a daily basis. You can open your own shop in the market or you can attach yourself with electric stores and hardware and sanitary stores.

Provide quality services and charge for your services. Market your contact number among residents of the area by distributing your visiting cards. Soon you will be able to bear the expenses for your bread and butter.

13. School Uniform and Tailoring

Tailoring

Research about the number of schools and colleges in your area. Do your homework, contact these schools and make a feasibility for this business idea. You can address a large number of school and college-going students. Your business will be a peak at the time of the commencement of new classes every year and after the summer holidays.

You can also offer tailoring services for clothes for men and women. Stitch dress shirts, pants, and other dresses and charge for your service. This is a four-season business idea. Because clothes are a basic necessity of all human beings. We need clothes by hook or crook.

14. Milk Shop

Opening a Milk Shop in a residential area can be a lucrative business idea. Milk is an important part of or daily meal. Especially for kids, we purchase milk and butter daily. Hire a rider and provide free home delivery of fresh milk in your area. You will get good business in a short time. Maintain good quality and win the trust of your customers. This business will pay you off.

15. Crockery and Plastic Ware Store

In this list of Business Ideas, we have focused on those businesses which address almost all households and we all need these ventures in our daily routine by anyway. Crockery and Plastic Ware Shop is one of those Business Ideas. There are a lot of things in our kitchen which we purchase from such shops.

Are you planning to start a Crockery and Plastic Ware Store? First of all, get complete information about the industry. There are so many options and brands in the market to start with. Select wisely and know your competitors. There is a large number of products in kitchenware, glassware and plastic ware. Hence, it is not as easy as you think. The good news is that you can earn a good profit margin out of this Business Idea.

Things to Consider

Before starting any business, there are a few points that everyone has to consider. Study your industry thoroughly, take your time to research about all aspects. Write a business plan. Paperwork is much important before jumping into any business. Note down all your resources and have an eye on your competitors. Business demands hard work to be successful especially at the starting phase.

Above mentioned all Business Ideas are completely workable and many people around us are already doing these businesses. They are earning good profits but it takes time to reach break-even. You can not succeed overnight. It requires a lot of patience. I will keep researching and writing about Business Ideas for you. Because this is something I am passionate about.

Hasan

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