The start-up ecosystem is blooming in India. Several young entrepreneurs have emerged for the last decade, establishing businesses in various sectors. However, certain business areas remain less explored. One such highly profitable sector with huge potential is the Transport and Logistics Industry. Though the initial investment in certain cases is quite high, but the industry ensures long term and consistent returns. The logistics market in India is forecasted to grow at a CAGR of 10.5% between 2019 and 2025.
A proper- well linked transportation system is utmost important for the development of any industry, specially the manufacturing, construction and warehousing industries. Without uninterrupted transport facilities, they are bound to be delays in movement of both raw materials and finished goods which leads to huge losses to the business. Not only for business, a robust transport system is essential for commuters to travel on a day to day basis.
Here are some start-up ideas for entrepreneurs looking to establish business in the transport and logistics industry –
Packers and Movers Service:
An all weather-viable business, providing packers and mover services never goes out of business. It is always in demand in every area, from village to cities to inter-state and inter-country moving services are required for people relocating. Despite a huge competition, with the increasing demand establishing business is comparatively easier in the field. Once you get the marketing right and create a trusted brand, you can dominate your designated region. This is a service that will always be in demand and doesn’t require too much initial time or money.
Bicycle Rental Service-
As the people are increasingly becoming health conscious and aware about the rapid environmental degradation, many are turning back to basics. They prefer using bicycles for short distances. Therefore, renting out bicycles is a thriving business, especially in dense urban areas and tourist hotspots. Ideally the business will be a success if located somewhere near a hotel or resort so you can cater to the steady stream of tourists looking to sightsee. Alternatively, set up a bike rental subscription service near busy offices in metropolitan areas will be highly profitable.
Livestock Transport Service-
Transporting live stock including cows, sheep, goats etc., is another year long in-demand business. Various poultry, dairy and other animal centres need their livestock to be carried from one place to another. There is no license requirement to start the business While it’s the owner’s responsibility to get the livestock ready for transport, it’s your responsibility to make sure they get to their destination safely.
Delivery Services-
With increased online shopping, delivery services are increasingly becoming important. It has become an auxiliary to the e-commerce industry. In this operation, a store doesn’t keep the products it sells in stock. Instead, when a store sells a product, it purchases the item from a third party and has it shipped directly to the customer.
Logistics Services-
A company dealing with detailed logistic services is a sure-shot profitable venture. It has a moderate seed capital requirement. Logistics is generally the detailed organisation and implementation of a complex operation. The primary focus area is providing the right item in the right quantity at the right time at the right place for the right price in the right condition to the right customer.
With the increased demand of transport for carrying goods and people from place to another, setting up business in the transport and logistics industry is a long-term and viable plan. As the country moves towards more and more development and becomes business-centric, transport and logistics industry becomes an indispensable requirement.