Maharashtra is a state in the peninsular region of India. The state, standing in the third position in terms of area, occupies a major portion of the Deccan plateau. The most famous city in the state and probably in all of India, Mumbai, forms a major part of the GDP of Maharashtra. Apart from Mumbai, Maharashtra also has cities like Pune, Nagpur, Nashik, Aurangabad, etc., which have their own significance. Maharashtra is known for contributing to India’s socio-economical, cultural, and historical heritage. Today, we will talk about the best business you can start out with in Maharashtra and create your own success story. So, let’s begin!
List of Top 8 Business Ideas in Maharashtra
On this page:
1. Affiliate Marketing
Not limited to Maharashtra, affiliate marketing is one of the best businesses in 2022 that you can start from the ease of your home. Affiliate marketing involves an arrangement in which an affiliate gets paid for promoting an online retailer’s products online. Every sale through the affiliate’s link brings in a certain proportion as commission. This is one of the top businesses to start in Maharashtra due to its flexible nature, unlimited earning potential, and no minimum qualification requirement.
Maharashtra is a hub for tourists, both Indian and foreign. In 2021, Maharashtra had the highest number of domestic visitors (~1.5 million) and foreign travelers (~1.2 million). Maharashtra has some of the most loved locations for tourists, which include a collection of historical caves like Ajanta, Ellora, and Elephanta and architectural marvels like Gateway of India, along with peaceful locations like Marine Drive, Lonar Lake, etc. You can get into the tourism industry by any means – hotels, café, restaurants, tour guides, tour agents, travel services, etc.
3. Textile Business
Maharashtra is a large producer of textiles. The state contributes to more than 10% of the total textile output in the country, with 212 million kg of yarn produced yearly. Ichalkaranji, Bhiwandi, and Malegaon are the textile hubs for Maharashtra. If you are someone with the needed resources and knowledge regarding extracting, producing, and processing yarn, then textiles can be a profitable business for you.
Moreover if you are looking to start a business while leaving at village then don’t miss out our blog where we have listed down some of the best small village business ideas in India, Do have a look.
People with a decent experience in farming can do a fruitful business out of organic farming. Due to its innate nutritional qualities, organic farming is being preferred by an increasing number of consumers. Maharashtra produces many cash and food crops, including rice, jowar, bajra, wheat, tur, mung, urad, gram, and other pulses. The oilseed is one of the major productions in the state. Maharashtra’s nutrition-rich black soil also allows groundnut, sunflower, and soybean growth.
Business Ideas for Other States:
People with a certain area of land under their control can start a storage business for textiles and crops. Most of these crops are not used immediately and are kept in storage houses at a commission. Providing hygienic conditions and immediate availability can help you build a fruitful business. You can either do storage business through cold storage or simple godowns.
6. Recruitment Firm
Different MNCs have set up their corporate offices in Maharashtra. These companies look for the latest talent in the market through recruitment firms. Basic activities for these firms include background checks, screening processes, interviews etc. You can build a successful recruitment firm by developing a strong network and connection within the state and, eventually, can even expand into more states.
7. Real Estate Agent
Maharashtra is a diverse state. Individuals from all over the country live in different locations across the state. Real estate agents can earn heavy commissions by selling and renting out properties to their clients in metropolitans like Mumbai and developing cities like Nashik and Pune. Earning brokerage on every sale/rent can make a very profitable business if you have the right clients and connections.
8. E-Waste Recycling
Maharashtra is the largest producer of e-waste among Indian states. The state produces more than 3.9 lakh tonnes (19%) of e-waste, of which only about 48,000 tonnes are recycled. Since Maharashtra is a major investment, industrial and tourist hub, central and state governments are hell bound to keep the state cleaner. If you have certain technical knowledge about recycling, you can set up an e-waste recycling plant in collaboration with the government and earn subsidies and financial support to start your business.
Furthermore, we have also covered a list of online business ideas in Kerala in our recent blog. Do give it a read and get ideas for your new startup.
Why you should Start a Business in Maharashtra?
1. Wide Range of Opportunities: You can think of any business and industry in the world, and it would be an option in Maharashtra. Industries like agriculture, entertainment, manufacturing, import-export, IT etc., contribute highly to the status of the state.
2. Investor’s Interest: Since places like Pune and Mumbai are situated in Maharashtra; it attracts a lot of interest from investors. Apart from BSE & NSE, which are situated in Mumbai, investing also takes place in innovative technology, startups, public infrastructure and much more.
3. Diversity: Maharashtra is a state of diverse culture. People from all over the country and even the world have come to the state to start a better life for themselves. Due to its huge diversity and population of more than 11 crore people, Maharashtra is a host to various businesses. Any traditional or unconventional business can find its roots in Maharashtra.
4. Well Connected: Maharashtra is one of the best-connected states in India. The state has 18 National HIgwhays running across the state. Maharashtra is well connected through air and water with one of the best airports – Chhatrapati Shivaji Airport, in Mumbai, and two major ports. Any business can be benefitted easily from this great network of transportation.
5. Talent Pool: Maharashtra has a large number of skills as well as unskilled workers. It does not matter industry you are entering; you will find the appropriate workers for your startup without spending much money on recruitment costs.
In addition to this we would also recommend you to check one of our top blog featuring part-time business ideas in Kolkata. Do check it out.
Maharashtra provides ample opportunities for entrepreneurs to grow. The state has all the infrastructure needed for startups. What’s left for you is to do your research and start working towards your dream today!