Consider These Profitable Business Ideas To Start in Hyderabad
The capital of Telangana and de jure capital of Andhra Pradesh, the city of Hyderabad is the largest contributor to India’s GDP. Also known as the “city of pearls”, Hyderabad is the fifth most productive city in India. With a cosmopolitan culture, the city has a congenial and hospitable environment for growth and development of startups as well as established businesses.
Already home to various major industries, Hyderabad offers a profitable opportunity for entrepreneurs wishing to venture into the business world to reach the pinnacle of success. Here are some lucrative business ideas to start in Hyderabad.
Gems & Jewellery
The city of Nizams has a glistening history of gems & jewellery. Famous for its twinkling pearls and its role in the trade of pearls, has given Hyderabad the title of “The City of Pearls.”
The city was also the only global trading centres for a diamond in the 18th century, known as Golconda diamonds. The gems & jewellery industry is forecasted to reach each US$ 100 billion by 2025. Hyderabad is one of the largest exporters of gems and jewellery and the industry is considered to play a vital role in the Indian economy as it contributes a major chunk to the total foreign reserves of the country.
Starting a gems & jewellery business (especially pearls), in Hyderabad has its own perks. Not only will you be able to get quality resources, but also local skilled artisans for designing the jewellery.
IT Service Business
Hyderabad is a city of mix cultures. Along with its ancient & royal history, Hyderabad is emerging as a modern cyber city. The city is a global centre of information technology, for which it is also known as “Cyberabad.”
The city is home to 1300 IT firms and global conglomerates like Microsoft, Google etc. The development of the HITECH City and Genome Valley has made Hyderabad a breeding hub for more and more businesses providing IT services. Thus, starting an IT business in Hyderabad is a lucrative business opportunity.
In Hyderabad's history of enchanting pearls &mouth-watering multi-cuisines, there is significant importance given to Hyderabadi bangles; the city is famous for its lacquered bangles. Hyderabad’s stone studded bangles made of lac and clay and glass bangles of different colours are world-renowned. Starting a bangle manufacturing business here will prove to be highly profitable for any businessman.
Food and Beverage
The food & beverage industry has been thriving for the past few years. It is the safest bet for any entrepreneur who is a newbie to the business world. The people of Hyderabad are born foodies and love to savour every delicacy and given the recent influx of IT employees, a food & beverage business may witness ten-fold growth within a span of few years.
The Food & Beverage industry gives you the freedom of venturing into various business models. You can consider starting a small cafeteria, a breakfast joint, a fruit juice kiosk, etc. Hyderabad is also famous for its nightlife, thus starting a midnight restaurant will also reap you huge profits.
Those who want to start their own business or take up franchisees can join in the FRO 2019, happening in Hyderabad on 9-10 March to learn more about the franchise business, financial advice, and business advice from the experts. Meet the investors personally and participate to change the small world of business. Click here to know more: https://www.franchiseindia.com/fro