Eleven Booming Business Ideas In Kerala
Know the 11 booming business ideas in Kerala that can help you kickstart your entrepreneurial journey in this southern Indian state. Read to grow your business Now!
Kerala is one of the most popular destinations in India and the world, and not just for tourism, but also many other big and small businesses. Blessed with rich nature and natural resources along with a thriving tourism industry, Kerala provides excellent opportunities for profitable business.
There are also additional market benefits of opening a small or big business in Kerala. The high literacy rate ensures a continued supply of trained and semi-skilled labour. Moreover, Kerala is easily accessible as it is well connected by four international airports, rail network and many ports.
Here are 11 profitable business ideas for Kerala.
1. Tourism IndustryKerala has been chosen as one of the top 50 lifetime destinations. The tourism industry provides around 13% of Kerala GDP. In 2021, Kerala received over 75 lakh travelers. Currently, over 1 million people are employed in the tourism industry. Depending on your interest, you can start a business in any part of the tourism industry. You can start a travel agency, run a hotel, an Ayurveda retreat, open a restaurant, or be a trained photographer and videographer for hire.
2. Online Saree ShopThe elegant white and gold border saree of Kerala has become popular all over the world. You can start an online business and sell this gorgeous Kasavu saree across the country. Apart from the business potential, you will be promoting the rich tradition and culture of the state.
3. Incense SticksIf you are looking for a low-investment business, agarbatti production is a good option. All the raw materials needed for producing agarbatti like charcoal, sawdust and bamboo sticks are available in the state. The incense sticks are commonly used in massage and beauty parlours. It is also used for religious purposes in temples and homes.
4. SpicesThere is an abundance of quality spices in Kerala. Spices from Kerala such as pepper, cardamom, turmeric, ginger, clove, cinnamon is popular all over the world. Spices are used in almost every household and are also highly-valued for their medicinal properties. There is a huge market for Kerala spices abroad. Recently, spice tourism is hugely popular. Arrangements are made for visitors to visit spice plantation and some even provide accommodation.
5. Tea and Coffee IndustryThe tea and coffee industry present several opportunities from which one can earn a profitable income. Tea and coffee plantations are found all over the state. You can start a cafe business or start an online business selling the products from these plantations.
6. Banana Chips BusinessBanana chips is a popular snack all over the country. There is a huge market for it. You can start your own small scale banana chips industry or get in touch with one and sell it online.
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7. Ayurvedic ProductsThe ayurvedic products of Kerala are one of the finest in the country. Hence, it presents a huge potential for small-scale business. The products are made from authentic recipes found in the region and recipes from ancient Ayurvedic texts. Today, there is a growing interest in the ayurvedic products and aroma oil leading to Kerala becoming a highly sought-after ayurvedic destination.
8. Coconut-Based BusinessThere are numerous uses of coconut. The best part about starting a coconut-based business is that the initial investment is low. There are several options available. You can start at home by making food and snack items based on coconut for example jaggery, stuffed pancake, pudding, chips, sweets, pudding, spicy mixtures and roasted cashew. These products can be sold at offline or online stores.
9. Handmade Chocolate BusinessThe chocolates made locally in Kerala are a huge hit among the tourists. Also, if you are in the business of making handcrafted chocolates, you can make an additional income by arranging visits to places that produce chocolate and see in person the entire process of how a chocolate is made.
10. Handicraft ItemsThe local artisans of Kerala produce some of the finest items of clothing and jewellery. Some of these handicraft items are made of wood, bell metal, coconut shell, screw pine, straw, natural fibers and paper mache. If setting up your own business is expensive, you can also get in touch with local artisans and sell online.
11. Transport AgencyWith the number of tourists visiting the state starting a transportation business is another profitable option. There are many ways you can enter this market. You can provide cab services through Ola and Uber or start a luxury bus rental service. Also, you can provide rental taxi or bike service.
These are just a few tips to give you an idea on how to start your own business venture in Kerala. However, there are other options you can also take on. The most viable option would be the one where your passion and interest lies.
In case you plan to start a business in Kerala or already own one, IIFL Finance provides both personal and business loans as fast as possible and with minimal documentation.
IIFL Finance personal loans start from as low as Rs 5,000 and can be availed for up to three-and-a-half years. The company, one of India’s leading NBFCs, also provides unsecured business loans without collateral of up to Rs 30 lakh and secured business loans, which require a collateral, for as high as Rs 10 crore for a tenure of as long as 10 years.
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