Hyderabad is the capital city of the southern state of Telangana. With an area of more than 650 square kilometers, Hyderabad is also the largest city in the state. Popularly known as the ‘City of Nizams,’ the state is known for its rich heritage, dynamic history, and economic importance in Telangana’s economy. Hyderabad is also known as ‘The City of Pearls’ because of its historical reputation as the global center for trading large diamonds, emeralds, and natural pearls. Hyderabad is not only a historical and cultural landmark, but the city also has deep ties with businesses and entrepreneurship. Let us discuss what makes Hyderabad a great place to start a business and which may be the best business for you to start in the city.
List of Top 8 Business Ideas for Hyderabad
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1. Affiliate Marketing
Affiliate marketing is the newest trend in the marketing industry. A form of Digital Marketing, Affiliate marketing involves a partnership in which an affiliate (marketer) is paid a commission for increasing the sales or leads for an online retailer. Affiliates earn a percentage of every sale they make for the retailer. These sales are tracked through special affiliate links and IDs provided to the affiliates. This technique can be done on any internet platform, which includes social media, search engines, forums, video-sharing platforms, podcasts, streaming platforms, and much more. Affiliate marketing is a great business in Hyderabad due to its highly educated population, good standard of living, technology penetration, and the best part, no investment is required to start an affiliate marketing business.
2. Tourism Industry
Hyderabad is a hub for tourists. With culturally and historically important locations like Charminar, Golconda Fort, Chowmahalla Palace, Birla Mandir, Mecca Masjid, and natural locations like Nehru Zoological Park, Kasu Brahmanandha Reddy National Park, Hyderabad is a treat for travelers. Entrepreneurs can venture into different tourism businesses differing based on their budget and risk-taking ability. Some tourism industry businesses include café, restaurants, tour agents, hotels, travel guides, transportation services, etc. Looking to start a business in Bihar but don’t know where to start? Do have a look at our guide featuring most popular business ideas in Bihar.
3. Vehicle Rentals
Since Hyderabad is a relatively developed city and people have higher expenses, the public generally only considers buying a vehicle. This gives vehicle rentals a good scope in the City of Nizams. Residents as well as travelers both like rent two-wheelers as well as four-wheelers to roam around the city for different purposes. You can start with a small investment amount to buy a couple of vehicles and gradually build your way up.
4. Event Management
Hyderabad’s metropolitan region has more than one crore population. Due to the high standard of living and comparatively lesser time on their hands, people often like to delegate the process of organizing events. Event Management business can be a profitable endeavor in Hyderabad since it can provide a high return on investment. All you need is a creative mind and people skills, and you will be on your way. You can organize events like weddings, birthday parties, anniversary celebrations, etc., and manage everything related to the events, like location, catering, accommodation, guests, etc.
Moreover, for those who are looking to start a business in Assam but got fewer funds, we have featured some of the top low investment business ideas in Assam on our latest blog. Do have a look.
5. Street Food
Despite what many people think about it, street food is a very profitable business in Hyderabad and any location across India. Indians are traditionally food lovers. Hyderabad has several mouth-watering native dishes like Hyderabadi Biryani, Keema Samosa, Hyderabadi Khichdi, Irani Chai, and much more. You can certainly open a street food outlet in Hyderabad to provide people with hygienic and tasty indigenous delicacies. You can start this business as a food truck or a small outlet or go all in to create a large restaurant for your business.
Business Ideas for Other State:
This recommendation is for people with a lot of cash to invest in their businesses. Hyderabad is a good place to start a manufacturing business due to good connectivity, a business-friendly climate, and the availability of resources. You can venture into industries like Pharmaceuticals, Textile, Mines, and minerals. You may require a large amount of working capital for this business, so decide accordingly.
As we mentioned above, Hyderabad is a relatively rich city. The city’s GDP stands at $75 billion, making it the sixth richest city in the country. Many international and national brands look for good locations to start their franchise. You can help these companies set up their business in Hyderabad and charge commissions for your services, including day-to-day handling, infrastructure development, customer acquisition, labor management, etc.
8. IT Consulting
If you deeply understand the IT industry, you can start IT consulting easily in Hyderabad. HITEC city is famous for its IT climate. You can use your engineering knowledge to build a successful startup and start providing your services to small companies. Eventually, you could build your business and provide services to bigger national and international firms. IT Consulting includes activities like SAP, Workday, Salesforce, .NET Stack, Database Architect, mobile development, etc.
Furthermore, we have also walked through some of the successful unique business ideas in village on our recent blog. Do give it a read and get ideas for your new venture.
Why Should you Choose Hyderabad to Start a Business?
1. Good Education: Hyderabad has a long history of being recognized as a city that offers top-notch, high-quality education. Some institutions that are known countrywide for providing the best education are Jamia Nizamia, Osmania University, and the University of Hyderabad. These famous universities can offer an excellent infrastructure for education-based technology because Hyderabad is known as a technology center. Several of these schools are already technologically advanced or tolerant.
2. Breeding ground for Startups: Hyderabad offers investors and businesspeople several tempting investment options. The business climate supports small-scale industries, ensuring that the economy is diverse. Some of the biggest international corporations in India are based in Hyderabad. Due to this, Hyderabad is among the top cities in India to launch a business.
3. Good Infrastructure: Being the capital of Telangana, Hyderabad has a thriving manufacturing, IT, and tourism industry. Hyderabad provides business owners with several advantages and incentives. The city is ideally suited for creating startups thanks to its well-maintained roadways, cutting-edge infrastructure, and availability of educated and skilled IT employees.
4. HITEC City: HITEC is another name for the heart of the city. This amazing business-friendly city has been formed keeping in mind the nation’s technological boom and increased IT requirements. Through HITEC City, Hyderabad aims to become a powerhouse of the IT support industry and facilitate technological development in the country.
In addition to this, we would also like you to check our latest blog, where we have mentioned some of the best business ideas in Kerala for ladies that can be started with a low initial investment. Do check it out.
Hyderabad is a great place to live, vacation, or build a business. All you need is an idea, investment, and business passion. Well, we have assured you that you have some of the top ideas to start a business. All that is left for you to start working towards building your company. So, good luck!