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!
Key Insights of Maharashtra
On this page:
- Key Insights of Maharashtra
- List of Top 21 Business Ideas in Maharashtra
- 1. Affiliate Marketing
- 2. Tourism
- 3. Textile Business
- 4. Agriculture
- 5. Storage
- 6. Recruitment Firm
- 7. Real Estate Agent
- 8. E-Waste Recycling
- 9. Online marketplace for local products
- 10. Event planning and management services
- 11. Mobile App Development Company
- 12. E-commerce Store for Handmade and Artisanal Products
- 13. Restaurant or Cafe
- 14. Co-working Space or Shared Office Space
- 15. Digital Marketing Agency
- 16. Personalised Gift Shop
- 17. Healthcare Consulting Services
- 18. Organic Farming and Produce Delivery
- 19. Fitness and Wellness Centre
- 20. Online Tutoring Platform
- 21. Home Cleaning and Maintenance Services
- Why you should Start a Business in Maharashtra?
|State Rank||3rd in India|
|Maharashtra GDP||US$440 billion|
List of Top 21 Business Ideas in Maharashtra
1. Affiliate Marketing
Not limited to Maharashtra, affiliate marketing is one of the best online business in India for 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 travellers (~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 a village then don’t miss out on 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. 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.
9. Online marketplace for local products
With the rise of e-commerce, there’s a growing demand for online platforms that showcase and sell locally-made products. You could create an online marketplace that connects customers with small businesses and artisans in Maharashtra, promoting the state’s unique culture and crafts.
10. Event planning and management services
Maharashtra is known for its vibrant festivals, weddings, and other celebrations. If you have experience in event planning, you could start a business specialising in organising and managing these events.
11. Mobile App Development Company
As more people use smartphones and tablets, the demand for mobile app development services is increasing. Maharashtra has a thriving tech industry, and you could start a mobile app development company that caters to businesses and consumers.
12. E-commerce Store for Handmade and Artisanal Products
Maharashtra has many skilled artisans who create beautiful and unique products. You could make an e-commerce store specialising in selling these handmade items to customers nationwide or internationally.
13. Restaurant or Cafe
Maharashtra has a diverse and flavorful cuisine that’s popular worldwide. You could start a restaurant or cafe that specialises in serving authentic regional dishes, offering a unique dining experience for customers.
The demand for flexible workspaces is now increasing more than ever as freelancers and small businesses are looking for a collaborative and supportive environment to work in. You can start co-working or shared office space with comfortable workstations, high-speed internet, and state-of-the-art technology. This can be a lucrative business opportunity.
15. Digital Marketing Agency
Starting a digital marketing agency in Maharashtra is another good business opportunity. You can help businesses boost their online presence and connect with their target audience more efficiently. As the demand for digital marketing services is ever-increasing, this might be the right time for you to jump in!
16. Personalised Gift Shop
In today’s time when online shopping has become an essential part of our lives, gifting has become a little impersonal. You can start a personalized gift shop where you can offer customized gifts which cater to different occasions and tastes. From custom-made jewellery to personalized photo albums, your gift shop can be a go-to place for anyone looking to give something unique and special.
17. Healthcare Consulting Services
Maharashtra’s booming healthcare industry creates a perfect opportunity for you to start a business in this industry. You can start a consulting business that can help healthcare organizations to enhance their operations and elevate the quality of patient care.
18. Organic Farming and Produce Delivery
People are now prioritizing healthy and sustainable choices more than ever and it has significantly increased the demand for organic farming. You can start a business in this industry and provide customers with the freshest and most delicious produce directly to their doorstep. By directly cultivating the highest quality fruits and vegetables, you can offer top-notch products to your customers.
19. Fitness and Wellness Centre
Starting a fitness and wellness centre in Maharashtra is a profitable business idea as people have now become more aware of the crucial role that physical and mental health plays in their overall well-being.
You can offer yoga, meditation and fitness classes at your centre and make it a go-to place for people to boost their health and wellness game.
20. Online Tutoring Platform
With a large population of students in Maharashtra comes the excellent opportunity to start an online tutoring platform. By doing this, you can connect students with experienced and qualified tutors in different subjects, making it easier for them to excel in their studies. And create a fulfilling business venture for yourself.
21. Home Cleaning and Maintenance Services
Finding the time and energy to keep up with household chores can be difficult in our fast-paced lives. You can start a house cleaning and maintenance business. By doing so, you can give consumers a convenient and dependable cleaning solution.
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 skilled as well as unskilled workers. It does not matter the 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 check one of our top blogs 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!
Some of the major industries in Maharashtra are Pharmaceuticals, petrochemicals, heavy chemicals, electronics, automobiles, engineering, food processing, and plastics.
Some of the best cities in Maharashtra for business are Mumbai, Pune, Nashik, Nagpur, Navi Mumbai, and Aurangabad.
The textile business is the most profitable business in Maharashtra.
Some of the best businesses to start in Maharashtra include Affiliate Marketing, Tourism, Textiles, agriculture, Storage and Recruitment firms.