Looking for Low-Cost, High-Profit Business Ideas in the Mechanical Field? Let's Discuss!

I am seeking advice regarding a suitable business that I can start in the mechanical field with low investments and high profit.

Mr. Narendra,

You have not indicated your background and experience. The mechanical field, again, is very wide. Which division of Mechanical Engineering are you strong in?

The conventional wisdom says high risk, high gain. Another one says either be the first or the best in your business.

V. Raghunathan

If low investment and high profit were really possible, then, well, everyone would be in that business. Perhaps you mean high margins. A low investment, high-margin business would come only in the service sector, which would be restrictive in terms of the volume of work you can do. If you want higher volume, then you need a large working capital too.

Considerations for Starting a Business

Business is not something that can be done just like that. You need to decide what you would like to do and then see if it's profitable and what the market size is. I don't think anyone who does not know you personally can give a worthwhile answer to that.

Added to the above is, of course, the fact that you are talking in an HR forum where knowledge in that respect is bound to be low.

Regards

Dear Mr. Saswata Banerjee,

I would like to start a business with an initial investment of 5 lakhs and I am seeking information on the types of businesses that are feasible within this budget or with an investment of up to 10 lakhs. If you have any relevant information, please share it with me.

Thank you,
Narendra

This is the wrong way to approach business. There are many options within the price range, but factors such as demand in a particular place, your skills, and interests will drive it. I don't think a vague question like that will have an answer that you can get in this forum.

Steps to Determine Business Feasibility

I would suggest that first, you figure out what you are actually capable of doing in business. Then, work out whether it is feasible with the amount of capital you have. After that, you should look at the demand and supply and other applicable parameters.

Resources for Business Planning

Generally, the Small Industries Department of the government, central government schemes for employment, and other departments that promote self-help will have a list of industries and some basic data which you can review.

Regards